工程机械行业2015年中期年报分析

The mid year report analysis of construction machinery industry in 2015

1首现全行业账面亏损 2015年工程机械行业的整体盈利能力继续恶化，全部16家上市公司中期收入实现959亿元，同比下滑29%；净利润-5.76亿元，同比下滑117%。收入和净利润均呈现加速下滑态势。“四万亿哭泣曲线”利润曲线右侧因利润转负而向下突破坐标轴。虽然行业整体早就开始进入隐形亏损状态，但是上市公司全行业的账面亏损却是自2001年以来首次出现，而实际的亏损程度比账面还要严重很多（图1、图2）。

The overall profitability of construction machinery industry continued to deteriorate in 2015, all 16 listing corporation interim revenue achieved 95.9 billion yuan, down 29%; net profit of-0.576 billion yuan, down 117%. Both revenue and net profit declined. Although the industry as a whole has begun to enter the invisible loss of state, but the whole industry's book loss is the first time since 2001. And the actual level of loss was more serious than the book, showing that the intensity of the industry adjustment is rare in history.