Key investment points:
Market review: last week, Shenwan machinery and equipment sector decreased by 6.01%, down 1.50pct compared with the change of Shanghai and Shenzhen 300 index, and the rise and fall range is listed in the 25th of Shenwan’s 31 primary industries. The top three stocks in the mechanical equipment sector rose last week were visualisation technology, Dajin Heavy Industry Co.Ltd(002487) , Jiangyin Hengrun Heavy Industries Co.Ltd(603985) , up 24.33%, 23.80% and 17.90% respectively. In terms of valuation, as of January 28, the pettm of Shenwan mechanical equipment sector was 22.09 times. The pettm of general equipment, special equipment, rail transit equipment, construction machinery and automation equipment are 21.70 times, 29.47 times, 15.81 times, 13.87 times and 43.03 times respectively.
Zhou viewpoint of mechanical equipment industry:
Industrial control automation: with the support of national policies and planning, the utilization rate of machine vision industry in the subdivided field of intelligent manufacturing has increased due to the deepening of population aging and the increase of labor cost. Compared with human eyes, machine vision has obvious advantages. With the continuous development of intelligent manufacturing, the transformation of manufacturing industry to automatic production is an inevitable trend. The machine vision industry will benefit and drive the demand for machine vision products. It is recommended to pay attention to Opt Machine Vision Tech Co.Ltd(688686) (688686) and Jutze Intelligent Technology Co.Ltd(300802) (300802).
During the Spring Festival holiday, the demand for mechanical construction projects is expected to be reduced, and the number of mechanical construction projects will be reduced in 2022. After March, the sales volume of construction machinery is expected to show an upward trend. It is suggested to pay attention to: Sany Heavy Industry Co.Ltd(600031) (600031), Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) (000157), Xcmg Construction Machinery Co.Ltd(000425) (000425), etc.
Risk tips: policy changes; Macroeconomic fluctuations affect the demand for downstream products; Intensified industry competition, etc.
