After a period of adjustment of the industrial machine, the current valuation of the sector has been at a historically low level.
industrial machine index rose for three consecutive days after the festival
In 2021, the industrial machine was named at the Party committee meeting of SASAC to strengthen the tackling of key core technologies, and successfully ranked among the top stream of a shares, becoming one of the hottest concepts in the second half of last year. After the Spring Festival holiday in the year of the tiger, the industrial machine concept index rose for three consecutive days.
Industrial machine tools refer to machines that manufacture machines and machinery in a broad sense and machine tools in a narrow sense. As a strategic industry, the industrial machine is at the front end of the whole manufacturing industry chain and carries the foundation of the whole manufacturing industry. At present, China is in the stage of industrial structure adjustment and upgrading. The advanced manufacturing industry has gradually replaced the traditional manufacturing industry. The CNC machine tool industry, especially the high-end CNC machine tool industry, has ushered in accelerated development.
In terms of policy, according to the 14th five year plan, China will further promote the optimization and upgrading of the manufacturing industry, cultivate advanced manufacturing clusters, and promote the innovative development of high-end CNC machine tools and other industries. The draft of the “14th five year plan” for Intelligent Manufacturing Development released in April 2021 also supports the development of industrial machines.
With the accelerated transformation of China’s manufacturing industry and the rapid rise of emerging industries such as precision molds, aerospace, rail transit and biomedicine, because its production and manufacturing process is highly dependent on intelligent manufacturing equipment such as CNC machine tools, it will become a new growth point of CNC machine tool industry. The agency predicts that the market scale of China’s CNC machine tools will exceed 500 billion yuan by 2026.
After a period of adjustment of the industrial machine, the current valuation of the sector has been at a historically low level, with prominent configuration value. According to the statistics of securities times · databao, as of February 8, 2022, the latest valuation of industrial machine tools was 39.52 times, the lowest point in nearly half a year. Among the concept stocks, the latest rolling P / E ratio of 21 shares is lower than this value, and Tianma Bearing Group Co.Ltd(002122) , Huaming Power Equipment Co.Ltd(002270) , Shandong Weida Machinery Co.Ltd(002026) is the lowest, all less than 20 times.
Industrial machine concept index
1237 industrial stocks expected to double
According to the statistics of data treasure, up to now, there are 32 industrial machine concept stocks in the A-share market, which predict the annual performance of 2021. In terms of the upper limit of forecast growth, the net profit of 20 shares increased by more than 50%, of which 11 shares are expected to double. Wuxi Shangji Automation Co.Ltd(603185) was firmly at the top of the list, with a net profit increase of 239%, and the net profit increase of other performance doubled stocks fell in the range of 100% – 175%.
From the perspective of comprehensive institutional attention, among the 11 performance doubled stocks, Han’S Laser Technology Industry Group Co.Ltd(002008) , Oke Precision Cutting Tools Co.Ltd(688308) , Kede Numerical Control Co.Ltd(688305) won the top three, with 15, 13 and 9 institutions participating in the company’s rating respectively. Oke Precision Cutting Tools Co.Ltd(688308) is the enterprise with the largest output of sawtooth blades in China; The company’s main products CNC cutting tools are the key components of industrial machine tools. Driven by the strong demand in the downstream market, the company’s CNC tool production capacity has increased greatly. It is expected that the net profit attributable to the parent company will increase by 100.1% – 114.06% year-on-year in 2021.
Kede Numerical Control Co.Ltd(688305) it is estimated that the net profit attributable to the parent company will reach 65.2 million yuan to 75.2 million yuan in 2021, with a year-on-year increase of 85% – 113%, mainly due to the core technological innovation meeting the rapidly growing demand in aerospace, automobile, shipbuilding, energy and other fields. The company actively expanded the downstream market, the order volume continued to increase, the production capacity increased steadily, and promoted the rapid growth of sales revenue.
Citic Securities Company Limited(600030) said that the company is one of the few machine tool enterprises in China that master the core technology of five axis linkage CNC machine tools, CNC systems and functional components. High end CNC machine tools are used in many important fields such as aerospace and military industry. They are highly dependent on imports, and there is an urgent demand for domestic substitution. In the medium term, the company is expected to fully benefit from the strong domestic substitution demand of Aerospace Military customers, and enter the broad civil market to open up growth space.
Judging from the difference between the latest price and the target price unanimously predicted by the institutions, the five performance doubled stocks have considerable room for rise, Shanghai Weihong Electronic Technology Co.Ltd(300508) ranks first, with 189.4% room for rise; The rising space of Oke Precision Cutting Tools Co.Ltd(688308) , Han’S Laser Technology Industry Group Co.Ltd(002008) , Kede Numerical Control Co.Ltd(688305) , Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) also exceeded 40%. Among the stocks with high performance, Wuhan Raycus Fiber Laser Technologies Co.Ltd(300747) and Dongguan Yiheda Automation Co.Ltd(301029) have more than 50% room for rise.
