In 2009, all the sub-sectors of the machinery industry achieved positive growth in profits. The most flexible construction machinery became a profitable pioneer. The profit growth rate in January-November was as high as 62%, which was better than expected. The railway equipment industry also grew steadily. It is expected to meet in 2010. In the golden period of the machinery industry, the machinery industry is in a better period of increasing demand and raw material prices, and the profitability of enterprises will rebound rapidly. The data supports our previous judgments and continues to focus on the construction machinery and railway equipment industries.

　　From January to November, the performance of the machinery industry improved overall, and all sub-sectors achieved positive profit growth, including metal processing machinery and ships and floating devices that were still negative growth for the first eight months. The accumulative profit growth rate of the machinery industry accelerated. The cumulative profit of general equipment increased by 16.3% year-on-year, and the accumulated profit of special equipment increased by 23.9% year-on-year, which was 9 percentage points and 12 percentage points higher than that of January-August.

        Among the three sub-sectors of the machinery industry, the profits of the construction machinery and railway equipment industry rebounded the fastest. From January to November, the cumulative profit of construction machinery surged by 61.8%, which was nearly 40% higher than that of January-August. The revenue from September to November increased by 10%, and the profit increased by 36%, which was the highest among the sub-sectors. Profit elasticity of the construction machinery industry. The railway equipment industry has steadily rebounded. From September to November, revenue and profit increased by 17% and 14% respectively. From January to November, revenue and profit growth rate reached 33%.

　　The vertical and horizontal comparison shows that the management efficiency of the construction machinery industry has improved significantly. The construction machinery industry is the sub-sector with the highest profit rate and strong profitability in the machinery industry. Vertically comparing historical data, the gross profit rate of construction machinery is now at the historical average level, and the sales profit rate has returned to a historically high level. In the market competition, the innovation capability, management level and efficiency of the construction machinery industry are gradually improved.

　　The revenue and profit of the railway equipment industry increased steadily, and management efficiency continued to improve. From January to November, the revenue and profit growth rate of the railway equipment industry reached 33%. Due to the increase in raw material prices, the gross profit margin decreased by 4.7 percentage points. Due to the improvement of product structure, it is expected that the future profit level will exceed the expectation.

　　Pay due attention to the sub-sectors of the economic recovery back-end. In addition to the unexpected construction machinery and growth-determined railway equipment, the performance of the metal processing machinery and shipbuilding industry, which was hit hardest by the financial crisis, also improved initially, and the profit growth turned from the negative to the positive. Compared with other sub-sectors, the crane industry with a flat performance is the only three-level sub-sector with a decline in profit.