[core combination] Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Zhejiang Hangke Technology Incorporated Company(688006) , Guangdong Lyric Robot Automation Co.Ltd(688499) , Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) , Robotechnik Intelligent Technology Co.Ltd(300757) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Wuxi Autowell Technology Co.Ltd(688516) , Suzhou Maxwell Technologies Co.Ltd(300751) , Yingkou Jinchen Machinery Co.Ltd(603396) , Wuxi Shangji Automation Co.Ltd(603185) , Shenzhen S.C New Energy Technology Corporation(300724) , Zhejiang Windey Co.Ltd(300772) , Riyue Heavy Industry Co.Ltd(603218) , Sany Heavy Industry Co.Ltd(600031) , Jiangsu Hengli Hydraulic Co.Ltd(601100) , Xcmg Construction Machinery Co.Ltd(000425) , Hangzhou Oxygen Plant Group Co.Ltd(002430) , Yantai Jereh Oilfield Services Group Co.Ltd(002353) , Centre Testing International Group Co.Ltd(300012) , Zhejiang Shuanghuan Driveline Co.Ltd(002472) , Zhejiang Cfmoto Power Co.Ltd(603129) , Jade Bird Fire Co.Ltd(002960) , Ningbo Lehui International Engineering Equipment Co.Ltd(603076) , China Railway Hi-Tech Industry Corporation Limited(600528) , Zhejiang Huatie Emergency Equipment Science & Technology Co.Ltd(603300)
A key stock pool is a [focused stock pool] { Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) , Shanghai Sk Automation Technology Co.Ltd(688155) China National Electric Apparatus Research Institute Co.Ltd(688128) Naura Technology Group Co.Ltd(002371) {68002371} {6881371} {6881371 {6881371} Shanghai Friendess Electronic Technology Corporation Limited(688188) Shanghai Friendess Electronic Technology Corporation Limited(688188) {688188 Advanced Micro-Fabrication Equipment Inc.China(688012) Harbin Xinguang Optic-Electronics Technology Co.Ltd(688011) {} {68811} Shanghai Friendess Electronic Technology Corporation Limited(688188) {688018018018018018012} Wuhan Jingce Electronic Group Co.Ltd(300567) , {68858599 { Shanghai Friendess Electronic Technology Corporation Limited(688188) , {002002967 Guangzhou Grg Metrology&Test Co.Ltd(002967) {{{ Hangcha Group Co.Ltd(603298) Hangcha Group Co.Ltd(603298) {{{6006006006007676761}, {600600767676002833}, Beijing Tianyishangjia New Material Corp.Ltd(688033) Hunan Kaimeite Gases Co.Ltd(002549) 、 Guangdong Huate Gas Co.Ltd(688268) 、 Suzhou Jinhong Gas Co.Ltd(688106) 、 Vt Industrial Technology Co.Ltd(300707)
[last week's report] [ Shanghai Sk Automation Technology Co.Ltd(688155) ] depth: new energy vehicle model group / pack equipment leader, five factors drive performance acceleration [ Wuxi Lead Intelligent Equipment Co.Ltd(300450) ] performance slightly exceeds expectations, and the profitability of lithium battery equipment leader is expected to continue to improve. [ Guangdong Lyric Robot Automation Co.Ltd(688499) ] performance meets expectations; Relay consumption, power lithium battery equipment will increase significantly. [ Zhejiang Hangke Technology Incorporated Company(688006) ] won the bid for Eve Energy Co.Ltd(300014) lithium battery equipment of nearly 500 million; The performance will be greatly accelerated this year and next year. Leader Harmonious Drive Systems Co.Ltd(688017) ] the performance slightly exceeded the expectation, and the net profit deducted in 2021 increased by 206-249%. [ Xcmg Construction Machinery Co.Ltd(000425) ] performance meets expectations; Dividends from the mixed tax reform will continue to be released, and the net interest rate is expected to increase 2pc in 2021. [ Centre Testing International Group Co.Ltd(300012) ] performance meets expectations; It is expected that medicine, building materials and rail transit will increase in large quantities in 2022.
[core view] under the expectation of "steady growth", it is suggested to pay attention to: 1. Construction machinery industry chain: Sany Heavy Industry Co.Ltd(600031) , Jiangsu Hengli Hydraulic Co.Ltd(601100) , Xcmg Construction Machinery Co.Ltd(000425) , Zhejiang Dingli Machinery Co.Ltd(603338) , Hangcha Group Co.Ltd(603298) , Anhui Heli Co.Ltd(600761) , Shaanxi Construction Machinery Co.Ltd(600984) , China Railway Hi-Tech Industry Corporation Limited(600528) , Zhejiang Huatie Emergency Equipment Science & Technology Co.Ltd(603300) . 2. Equipment delivery chain: {6016}. 3. Oil service industry chain: Yantai Jereh Oilfield Services Group Co.Ltd(002353) , Sinoseal Holding Co.Ltd(300470) . 4. Real estate industry chain: Canny Elevator Co.Ltd(002367) , Guangzhou Kdt Machinery Co.Ltd(002833) .
(1) wind power equipment: China's offshore wind power bidding has been accelerated recently. We expect that the amount of offshore wind power bidding will exceed 15gw in 2022, with a year-on-year increase of more than 21 times. After the early adjustment of wind power equipment sector, the valuation of major companies in 2022 has entered the range of 20-30 times. It is recommended to pay attention to Ningbo Orient Wires & Cables Co.Ltd(603606) , Haili wind power and Ming Yang Smart Energy Group Limited(601615) ; Onshore wind power is recommended to be Zhejiang Windey Co.Ltd(300772) , Riyue Heavy Industry Co.Ltd(603218) , and it is recommended to pay attention to Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) .
(2) photovoltaic equipment: Risen Energy Co.Ltd(300118) plans to raise 5 billion yuan to expand the production capacity of 5GW heterojunction cells and pay attention to the industrialization process of photovoltaic heterojunction.
(3) construction machinery: in 2021, the sales volume of forklift truck was 1099400, with a year-on-year increase of 37%, and the sales volume reached a new record. In 2021, the annual sales volume of excavators was 343000 units, with a year-on-year increase of 5%; We expect that the sales volume of excavators will be about 310000 in 2022, a year-on-year decrease of about 10%.
[construction machinery] the central government emphasized steady growth, recently issued special bonds in advance, and started major projects everywhere. Recommended Sany Heavy Industry Co.Ltd(600031) , Jiangsu Hengli Hydraulic Co.Ltd(601100) , Zhejiang Dingli Machinery Co.Ltd(603338) , Hangcha Group Co.Ltd(603298) , Xcmg Construction Machinery Co.Ltd(000425) ; Watch Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) , Shaanxi Construction Machinery Co.Ltd(600984) , Anhui Heli Co.Ltd(600761) , Zhejiang Huatie Emergency Equipment Science & Technology Co.Ltd(603300) .
[semiconductor equipment] major semiconductor enterprises in the world have increased capital expenditure, and the prosperity of semiconductor equipment has been improved and localization has been promoted. Recommend Robotechnik Intelligent Technology Co.Ltd(300757) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , and be optimistic about Naura Technology Group Co.Ltd(002371) , Advanced Micro-Fabrication Equipment Inc.China(688012) , Wuhan Jingce Electronic Group Co.Ltd(300567) , Hangzhou Chang Chuan Technology Co.Ltd(300604) , Pnc Process Systems Co.Ltd(603690) , Beijing Huafeng Test & Control Technology Co.Ltd(688200) .
[lithium battery equipment] the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in 2021 was 3.51 million, 1.6 times year-on-year. Among them, 530000 vehicles were sold in December, with a penetration rate of 19%; The passenger Association predicts that the sales volume of new energy vehicles will be 6 million in 2022, with a penetration rate of 22%. Recommend lithium battery equipment faucets Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Shanghai Sk Automation Technology Co.Ltd(688155) , Zhejiang Hangke Technology Incorporated Company(688006) , Guangdong Lyric Robot Automation Co.Ltd(688499) , Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) , Shenzhen United Winners Laser Co.Ltd(688518) , Vt Industrial Technology Co.Ltd(300707) , and look forward to Suzhou Slac Precision Equipment Co.Ltd(300382) , Ningbo Zhenyu Technology Co.Ltd(300953) , Jdm Jingda Machine(Ningbo)Co.Ltd(603088) .
[photovoltaic / wind power equipment] China's recent offshore wind power bidding has significantly accelerated. It is expected that the offshore wind power bidding will exceed 15gw in 2022, with a year-on-year increase of more than 21 times. The valuation of major wind power companies in 2022 has entered the range of 20-30 times. It is recommended to pay attention to Ningbo Orient Wires & Cables Co.Ltd(603606) , Haili wind power and Ming Yang Smart Energy Group Limited(601615) ; Onshore wind power is recommended to be Zhejiang Windey Co.Ltd(300772) , Riyue Heavy Industry Co.Ltd(603218) , and it is recommended to pay attention to Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) . In 2021, China added 53gw of photovoltaic installed capacity, with a year-on-year increase of 10%. Risen Energy Co.Ltd(300118) it is proposed to raise 5 billion yuan to expand the capacity of 5GW heterojunction battery and pay attention to the progress of heterojunction project. Photovoltaic equipment continues to recommend Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Suzhou Maxwell Technologies Co.Ltd(300751) , Yingkou Jinchen Machinery Co.Ltd(603396) , Wuxi Shangji Automation Co.Ltd(603185) , Shenzhen S.C New Energy Technology Corporation(300724) , etc.
[oil and gas equipment] ice oil distribution exceeds US $90 / barrel, a new high in 6-7 years. It is recommended to Yantai Jereh Oilfield Services Group Co.Ltd(002353) , Sinoseal Holding Co.Ltd(300470) and optimistic about China Oilfield Services Limited(601808) .
[inspection] recommended Centre Testing International Group Co.Ltd(300012) ; Continue to be optimistic about Guangzhou Grg Metrology&Test Co.Ltd(002967) , Shenzhen Anche Technologies Co.Ltd(300572) , China Building Material Test & Certification Group Co.Ltd(603060) , Suzhou Sushi Testing Group Co.Ltd(300416) .
[consumption upgrading / overseas export] it is expected that the cost end of the export industrial chain will be marginally improved. In November, the year-on-year growth rate of large displacement two wheeled vehicles was 96%.
Highlight Zhejiang Cfmoto Power Co.Ltd(603129) , Ningbo Lehui International Engineering Equipment Co.Ltd(603076) , Zhejiang Jiecang Linear Motion Technology Co.Ltd(603583) , Zhejiang Dingli Machinery Co.Ltd(603338) , Hangzhou Great Star Industrial Co.Ltd(002444) , Hangzhou Youngsun Intelligent Equipment Co.Ltd(603901) , Guangdong Jinma Entertainment Corporation Limited(300756) .
[industrial gas] it is estimated that China's market space is nearly 200 billion yuan, which is expected to cultivate large market value companies, and the market value of overseas comparable companies is 600-100 billion; We are optimistic about the domestic substitution of electronic special gas. {00268}, 00268430 Zhejiang Yilida Ventilator Co.Ltd(002686) recommended.
Risk tips: 1) infrastructure and real estate investment is lower than expected; 2) Covid-19 epidemic spread beyond the expected risk.
