Recommend rehabilitation medical equipment, lithium battery equipment, semiconductor equipment, panel equipment, photovoltaic equipment, etc.: Xiangyumedicalco.Ltd(688626) (688626), Wuxi Lead Intelligent Equipment Co.Ltd(300450) (300450), Suzhou Maxwell Technologies Co.Ltd(300751) (300751), Wuxi Autowell Technology Co.Ltd(688516) (688516), Shenzhen S.C New Energy Technology Corporation(300724) (300724), Hangzhou Honghua Digital Technology Stock Company Ltd(688789) (688789), Opt Machine Vision Tech Co.Ltd(688686) (688686), Shanghai Friendess Electronic Technology Corporation Limited(688188) (688188), Zhejiang Hangke Technology Incorporated Company(688006) (688006) Guangdong Lyric Robot Automation Co.Ltd(688499) (688499), China National Electric Apparatus Research Institute Co.Ltd(688128) (688128), Shenzhen Xinyichang Technology Co.Ltd(688383) (688383), Hunan Baili Engineering Sci & Tech Co.Ltd(603959) (603959), Wuhan Dr Laser Technology Corp.Ltd(300776) (300776), Shenzhen United Winners Laser Co.Ltd(688518) (688518), Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) (688559), etc.
Key industry trends: the honeycomb production capacity is planned to reach 600gwh in 25 years, and the global power battery installed capacity increased by 70% in October. 1) On December 8, Yang Hongxin, chairman and CEO of beehive energy, said at the second battery day of beehive energy that the capacity under construction of beehive energy is 297gwh. It is planned to realize 600gwh battery capacity in 2025, corresponding to 450gwh effective output. Among them, passenger car customers will support the digestion of 340gwh capacity, and the rest are energy storage 37gwh, non high-speed vehicles 40gwh and 37gwh commercial vehicles. At present, honeycomb energy has received nearly 400gwh passenger car orders in 2025. At present, the capacity expansion planning of various battery manufacturers is huge, which is good for midstream equipment manufacturers. 2) Sneresearch data show that in October, the installed capacity of global power batteries was about 26.2gwh, an increase of 70% year-on-year. In the top 10 list of global power battery installed capacity in October, there are still 6 battery manufacturers in China. Among them, Contemporary Amperex Technology Co.Limited(300750) takes the lead, and honeycomb energy and Eve Energy Co.Ltd(300014) replace Lishen and vision power on the list.
Key recommendation: Wuxi Autowell Technology Co.Ltd(688516) – Huasheng phase II 2gwhjt high precision series welding machine is provided throughout the line. 1) On December 9, Wuxi Autowell Technology Co.Ltd(688516) signed a strategic cooperation agreement with Huasheng to jointly promote the process development and mass production of hjt component end. Huasheng phase II 2gw heterojunction module project will also select Wuxi Autowell Technology Co.Ltd(688516) series welding machine for the whole line. 2) Large size has become the mainstream of the industry, driving the renewal of series welding machine and other component equipment. In the first half of 2021, several PV module manufacturers arranged large-size modules, accounting for 50% of the overall expanded production capacity. It is expected that the M10 / M12 production capacity will be released on a large scale in 2023. The large size of silicon wafer will require the corresponding component equipment to be compatible with more sizes. Therefore, key equipment such as series welding machine needs to be longer and wider, and the original equipment will be upgraded. 3) The technical barriers of multi main grid and half / three pieces are low, and the demand for series welding machine increases. 4) As a leading enterprise of series welding machine, the company has a market share of about 70% in China. In addition to providing hjt high-precision series welding machine to Huasheng, the company has recently won the bid for the assembly equipment of RMB 145 million for Jingke Jianshan new project. The winning equipment is the company’s latest multi main grid series welding machine and non-destructive dicing machine. In the future, this batch of equipment will undertake the assembly production of Jingke tigerneon TOPCON battery fine welding wire.
Investment suggestions: 1) recommend the leader of rehabilitation medical equipment Xiangyumedicalco.Ltd(688626) . 2) Lithium battery detection has become a new growth point of machine vision, focusing on the layout of enterprises in the whole industry Opt Machine Vision Tech Co.Ltd(688686) . 3) There is a large downstream space for lithium battery equipment, and the equipment company has strong certainty. It is recommended to Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Guangdong Lyric Robot Automation Co.Ltd(688499) , Zhejiang Hangke Technology Incorporated Company(688006) , China National Electric Apparatus Research Institute Co.Ltd(688128) , Shenzhen United Winners Laser Co.Ltd(688518) , Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) . 4) Focus on high-quality panel equipment enterprises Suzhou Hyc Technology Co.Ltd(688001) , Shenzhen Xinyichang Technology Co.Ltd(688383) . 5) The laser cutting control system faucet Shanghai Friendess Electronic Technology Corporation Limited(688188) is recommended. 6) Hit is expected to become the next generation of mainstream battery technology, and Suzhou Maxwell Technologies Co.Ltd(300751) is recommended. 7) Other concerns: Beijing Huafeng Test & Control Technology Co.Ltd(688200) , Leader Harmonious Drive Systems Co.Ltd(688017) , Zhejiang Supcon Technology Co.Ltd(688777) , Wuhan Dr Laser Technology Corp.Ltd(300776) , etc. (Note: Xiangyumedicalco.Ltd(688626) , Shanghai Friendess Electronic Technology Corporation Limited(688188) , Zhejiang Supcon Technology Co.Ltd(688777) are jointly covered by Huaxi machinery, traditional Chinese medicine, small disk and computer teams respectively).
Risk tip: the fluctuation of economic growth increases; The order acquisition of relevant enterprises is less than expected.
