The Ministry of Communications issued the "14th five year plan" for highway maintenance. It is expected that China's financial expenditure on highway maintenance will increase to more than 100 billion yuan by 2026.
Ministry of transport issues the 14th five year plan for highway maintenance
On April 26, the Ministry of transport issued the outline for the development of highway maintenance management in the 14th five year plan , which requires efforts to promote the digitization of facilities, specialization of maintenance, modernization of management, efficient operation and high-quality service, comprehensively improve the level of highway maintenance management and promote the sustainable and healthy development of highway transportation.
According to the requirements of the outline, by 2025, the excellent road rate of Expressway technical condition (MQI) will be maintained at more than 90%, and the excellent road rate of ordinary national roads will reach more than 85%; The coverage of Expressway video monitoring facilities in the East, middle and West reaches 100%, 90% and 80% respectively, and the access rate and online rate are not less than 95%; The coverage rate of video facilities at important nodes of ordinary national and provincial trunk lines shall reach 100%, and the access rate and online rate shall not be less than 95%. The success rate of expressway network toll transaction and the timely upload rate of transaction data reached 99.9%.
The outline proposes to promote the digitization of facilities, promote the collection of basic data, and build a data system with unified standards, comprehensive information, integration and sharing; Improve the digital level of maintenance management and lead the transformation and upgrading of highway maintenance management with digitization; Promote the digitization of road network operation management and improve the ability of road network operation monitoring management and service through digitization.
Expressway enters the intensive maintenance period, and the maintenance market continues to grow
Data show that China's expressway has reached 161000 kilometers, becoming the world's largest expressway network. The total mileage of national roads reached 5.198 million kilometers, and the mileage of class II and above roads reached 702000 kilometers. With the increase of highway mileage, the investment in highway maintenance is increasing.
The peak of highway construction in China is concentrated in the first decade of the 21st century. After the peak of highway construction, the pressure of highway maintenance is increasing day by day. According to the medium and large-scale overhaul period of 5 to 10 years, the new roads completed and opened to traffic in the past 10 years will enter the intensive maintenance period, and large and medium-sized modifications need to be carried out intensively. According to the national highway network planning 20132030 issued by the Ministry of communications, 97% of China's national, provincial, county and township roads will be upgraded, and the market scale of highway maintenance equipment + service is 200 billion.
From the perspective of public financial expenditure on highway maintenance, China's highway maintenance financial expenditure fluctuated and increased from 2015 to 2020, and the maintenance financial expenditure continued to rise from 2018 to 2020, which is directly related to China's highway mileage and load. In 2020, the final accounts of public financial expenditure for highway maintenance in China was 88.583 billion yuan, an increase of 6.34% year-on-year in 2019.
According to the outline of the national comprehensive three-dimensional transportation network planning, China will build a national highway network, ordinary national highway network and other highways in the future, with a total of about 460000 kilometers, and the basic mileage of highway maintenance will still increase. According to the growth rate of highway maintenance financial expenditure, the prospective industry research institute predicts that China's highway maintenance financial expenditure will increase to more than 100 billion yuan by 2026
highway maintenance stocks fell during the year
Among a shares, there are few concept shares of highway maintenance. Roadmaint Co.Ltd(603860) is mainly engaged in highway maintenance. The company is the only enterprise in China that can provide a complete set of technologies and services for scientific decision-making of highway maintenance. By the end of 2021, the company has provided network level and project level maintenance decision-making consulting services for more than 400 maintenance projects in nearly 30 provinces.
Dagang Holding Group Co.Ltd(300103) is a high-tech enterprise engaged in highway maintenance. Its main products include asphalt deep-processing equipment, special vehicles and equipment for road construction and maintenance. At the same time, the company vigorously carries out the general contracting and construction business of highway projects outside China.
Anshan Senyuan Road & Bridge Co.Ltd(300210) is mainly engaged in the manufacturing of high-end equipment for highway maintenance. Its main products include asphalt pavement regeneration equipment, mixing equipment, snow removal equipment (emergency rescue equipment) and municipal sanitation equipment.
In addition, , Shandong Hi-Speed Road&Bridge Co.Ltd(000498) , Jiangsu Baoli International Investment Co.Ltd(300135) , Xinjiang Beixin Road & Bridge Group Co.Ltd(002307) and other companies also have some businesses related to highway maintenance. From the perspective of rise and fall, Shandong Hi-Speed Road&Bridge Co.Ltd(000498) , Xinjiang Beixin Road & Bridge Group Co.Ltd(002307) , Henan Provincial Communications Planning & Design Institute Co.Ltd(300732) and other stocks rose during the year, while other stocks fell to varying degrees.
