Market review: this week, Shenwan machinery and equipment sector rose 0.55%, down 0.28pct compared with the change of Shanghai and Shenzhen 300 index, and the rise and fall range is listed in the 24th of Shenwan’s 31 primary industries. The first three stocks in the mechanical equipment sector rose this week were Tangshan Jidong Equipment And Engineering Co.Ltd(000856) , Haimo Technologies Group Corp(300084) , Guizhou Wire Rope Co.Ltd(600992) , up 52.90%, 27.77% and 24.79% respectively. In terms of valuation, as of February 11, the pettm of Shenwan mechanical equipment sector was 22.12 times. The pettm of general equipment, special equipment, rail transit equipment, construction machinery and automation equipment are 21.47 times, 29.91 times, 16.46 times, 13.85 times and 42.31 times respectively.
Zhou viewpoint of mechanical equipment industry:
Industrial control automation: the state has continuously issued policies and plans to support the field of intelligent manufacturing, superimposing factors such as the deepening of population aging and the increase of labor costs, and the utilization rate of each sub field of intelligent manufacturing has gradually increased. With the continuous development of intelligent manufacturing field, the transformation of manufacturing industry into automatic production is an inevitable trend, which will promote the development of various subdivided fields and stimulate demand. Suggested attention: Shenzhen Inovance Technology Co.Ltd(300124) (300124).
Construction machinery: in January 2022, the sales volume of excavators continued to slow down year-on-year, and the export sales volume was at a high growth level. The operating hours of excavators decreased by 35.00% year-on-year, at a low level in January of previous years. It is suggested to pay attention to: 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.
