[core combination] 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) , 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) , 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 [focused on a focus stock pool] { Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) , {300724 { Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) { Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) { Shenzhen S.C New Energy Technology Corporation(300724) Shenzhen S.C New Energy Technology Corporation(300724) Shenzhen S.C New Energy Technology Corporation(300724) Shenzhen S.C New Energy Technology Corporation(300724) { Shenzhen S.C New Energy Technology Corporation(300724) { China National Electric Apparatus Research Institute Co.Ltd(688128) , China National Electric Apparatus Research Institute Co.Ltd(688128) China National Electric Apparatus Research Institute Co.Ltd(688128) China National Electric Apparatus Research Institute Co.Ltd(688128) China National Electric Apparatus Research Institute Co.Ltd(688128) Wuhan Jingce Electronic Group Co.Ltd(300567) , {6885688599 {{6885858599} {{{686868858} {00010001000157} {} {{00016009884}, {6009884}} {6007660076337}, Guangzhou Kdt Machinery Co.Ltd(002833) Beijing Tianyishangjia New Material Corp.Ltd(688033) 、 Hunan Kaimeite Gases Co.Ltd(002549) 、 Guangdong Huate Gas Co.Ltd(688268) 、 Vt Industrial Technology Co.Ltd(300707)
[last week’s report] [ Dongguan Yiheda Automation Co.Ltd(301029) ] depth: FA automation parts leader and one-stop supply platform to improve market share. [ Shanghai Sk Automation Technology Co.Ltd(688155) ] equity incentive was approved by the general meeting of shareholders; Five factors drive the acceleration of performance. [ Shanghai Sk Automation Technology Co.Ltd(688155) ] acquisition of Ningde Dongheng machinery, new energy vehicle equipment and products, two wheel drive. [ Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) ] silicon carbide won 230000 major orders and broke through; Semiconductor processing equipment received orders. [ Robotechnik Intelligent Technology Co.Ltd(300757) ] acquire the world’s leading optoelectronic and semiconductor automation equipment manufacturers. [ Robotechnik Intelligent Technology Co.Ltd(300757) ] the performance in 2021 turned loss into profit; The acquisition of ficontec is expected to write a new chapter. [ Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) ] intends to acquire Shenzhen Roadrover Technology Co.Ltd(002813) controlling interests; Help to give play to business synergy. [ Jade Bird Fire Co.Ltd(002960) ] Anhui fire safety industrial park was built with 1.3 billion yuan to form four production capacity bases. [industrial gas] pay attention to the price rise of rare gas and the domestic substitution of electronic special gas. [ Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) ] China Innovation Airlines plans to invest 40 billion yuan to expand the production of lithium batteries in Guangdong, and the company is expected to continue to benefit.
[ Vt Industrial Technology Co.Ltd(300707) ] it is planned to build new production capacity in Shanghai, and the production of stamping parts of new energy vehicles will be greatly expanded.
[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. Rail transit equipment industry chain: Crrc Corporation Limited(601766) . 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) construction machinery: in January, the sales volume of excavators was 15607, a year-on-year decrease of 20.4%; Among them, 8282 units were sold in the Chinese market, a year-on-year decrease of 48.3%; The export sales volume was 7325 units, with a year-on-year increase of 105%, and the average sales volume increased by 3% month on month compared with Q4 of 2021, exceeding market expectations. In January, the financial data achieved a good start, with new RMB loans increasing by 11% year-on-year, and the stock of social finance scale increasing by 10.5% year-on-year, all exceeding market expectations. With the commencement of major projects, the marginal improvement of construction machinery is expected, and the decline in Q2 is expected to narrow. The sales volume of excavators will be about 310000 in 2022, a year-on-year decrease of about 10%. 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) .
(2) 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 that Zhejiang Windey Co.Ltd(300772) , Riyue Heavy Industry Co.Ltd(603218) , and is optimistic about Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) , Ningbo Orient Wires & Cables Co.Ltd(603606) , Haili wind power, Ming Yang Smart Energy Group Limited(601615) , Ficont Industry (Beijing) Co.Ltd(605305) , Asian Star Anchor Chain Co.Ltd.Jiangsu(601890) .
[semiconductor equipment] in 2021, the global semiconductor revenue increased by 25.1%, and the prosperity of semiconductor equipment and localization were 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%. The price of silicon operated steadily as a whole. 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 and detection] 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 December, 250cc + large displacement two wheeled vehicles increased by 296% year-on-year. 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. Recommended Hunan Kaimeite Gases Co.Ltd(002549) , optimistic about Hangzhou Oxygen Plant Group Co.Ltd(002430) , Guangdong Huate Gas Co.Ltd(688268) , Suzhou Jinhong Gas Co.Ltd(688106) .
Risk tips: 1) infrastructure and real estate investment is lower than expected; 2) Covid-19 epidemic spread beyond the expected risk.
