1. The profit rate continues to increase
From the perspective of industry profitability, in recent years, China's metal cutting machine tool industry sales revenue and profits have increased year by year. Since 2004, the industry's gross profit margin has risen steadily and maintained at a relatively high level of around 20%. However, the profit margin has steadily increased, from 1.95% in 2002 to 5.88% in the first eight months of this year, and the quality of industry earnings is strengthening.
2. Industry growth is stable
In the past few years, the sales revenue and profit of the Jinchee machine tool manufacturing industry have maintained a relatively fast growth rate, and the industry has grown steadily. Since 2004, the sales revenue of Jinchee Machine Tool Manufacturing has grown at an average annual rate of 28.69% (arithmetic average), while the average profit has increased by 45.77%, which is faster than revenue growth. The output value of new products in the industry also maintained an average annual growth rate of 32.26%, and the export growth rate reached 33.39%.
3. Significant cost control results
In the case of rapid growth in industry revenue year after year, the industry's period expenses did not achieve the same proportion of growth. The proportion of the period's expenses to the industry's sales revenue has been declining year by year, and the industry's cost control has achieved remarkable results. In 2002, the cost of Jinchee machine tool manufacturing industry was 3.632 billion yuan, accounting for 19.45% of the total sales revenue of the year. In the first 8 months of this year, the industry period cost was 5.251 billion yuan, accounting for 12.14% of the income.
The continuous decline in the rate during the period has improved the profitability of the industry and reflects the ability to control the industry's expenses. This is also the main reason for the sharp increase in profit growth of Jinchee machine tool manufacturing and machine tool accessories manufacturing industry.
4. The asset operation capability is continuously enhanced
The accounts receivable turnover rate and inventory turnover rate reflecting the asset operation ability, Jinchee machine tools and machine tool accessories all show a trend of increasing year by year. In 2002, the turnover rate of accounts receivable for Jinchee machine tools and machine tool accessories industry was 4.01 and 4.84 times/year respectively; in 2006, it rose to 7.93 and 8.65 times/year respectively. The inventory turnover rate also rose from 0.64 and 0.99 per year in 2002 to 1.27 and 1.70 per year in 2006. The acceleration of the collection rate of accounts receivable and the decline in the funds occupied by inventory reflect that the asset operation capability of the Jinchee machine tool manufacturing industry and the machine tool accessory manufacturing industry is constantly increasing.
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