Bearing industry profits shrink by 40%

According to the statistics of the China Bearing Industry Association, in the first half of this year, the total profits of 63 bearing companies decreased compared with the same period of last year, accounting for 60% of the total number of companies. There were 3 corporate profits that were the same as last year, and only 38 companies had increased their total profits.

According to statistics, from January to June this year, China's bearing industry realized a total profit of 1.45 billion yuan, a decrease of 41.87% from the same period of last year, and the amount of bearing stocks also increased from 4.70 billion yuan in the same period last year to 5.23 billion yuan, an increase of 11.30%.

The monthly production report of the major manufacturing enterprises in the bearing industry shows that in the first half of this year, 104 enterprises participating in the statistics of the bearing industry in China produced a total of 2.11 billion bearings, a year-on-year increase of 4.76%; sales volume was 1.95 billion sets, a year-on-year decrease of 2.89%.

Although output has increased, output value has declined. In the first half of the year, the total industrial output value was 28.31 billion yuan, a year-on-year decrease of 6.97%, and the industrial sales value was 28.17 billion yuan, a year-on-year decrease of 6.60%.

In terms of imports and exports, from January to June this year, China exported a total of 2.239 billion sets of bearings, a decrease of 2.4% from the same period of last year, and earned foreign exchange of 2.205 billion U.S. dollars, an increase of 7.6% over the same period of last year. Accumulatively, 957 million sets of imported bearings were used, with a total of 1.731 billion U.S. dollars, which was a decrease of 5.8% and 16.82% respectively from the same period of last year. Compared with the previous month, the surplus of import and export trade continued to increase, with a surplus of 474 million U.S. dollars.

From the perspective of export product composition, cylindrical roller bearings still maintained a significant year-on-year growth, but with the increase of 150.33% last month, the growth rate continued to decline, with an increase of 141.7%; and self-aligning bearings only increased by 6.7%. The rate of other bearings also fell in different magnitudes.

The amount of foreign exchange has slightly changed compared with the previous month. Thrust ball bearings have changed year-on-year in the previous months, and the amount of foreign exchange earned in June increased by 11.1% year-on-year. In addition to a slight decrease in spherical roller bearings, the others have shown an increase over the same period of last year.

The relevant experts of the association pointed out that the bearing outlet structure changes require attention. However, from the point of view of the entire export product, the growth rate of export volume and foreign exchange earnings has continued to decline compared with the previous month.

From the point of view of the composition of imported bearings, the year-on-year ratio of deep groove ball bearings has changed slightly with a slight increase. Other products are basically the same as last month, and only angular contact ball bearings, thrust ball bearings, cylindrical roller bearings and tapered roller bearings Import volume increased slightly. With respect to foreign exchange, apart from the fact that the number of thrust ball bearings is increasing both in terms of volume and use of foreign exchange, the import volume of tapered roller bearings, angular contact bearings and cylindrical roller bearings has increased despite the increase in the use of foreign exchange. As a whole, the volume of imports and the use of foreign exchange have both declined.