Core combination of machinery industry and key industries / sectors
Core portfolio: Sany Heavy Industry Co.Ltd(600031) , Jiangsu Hengli Hydraulic Co.Ltd(601100) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Suzhou Maxwell Technologies Co.Ltd(300751) , Wuhan Dr Laser Technology Corp.Ltd(300776) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Zhuzhou Crrc Times Electric Co.Ltd(688187) , Iray Technology Company Limited(688301) , Zhejiang Cfmoto Power Co.Ltd(603129) , Suzhou Sushi Testing Group Co.Ltd(300416) , Wuhan Raycus Fiber Laser Technologies Co.Ltd(300747) , Zhejiang Jiecang Linear Motion Technology Co.Ltd(603583) , Centre Testing International Group Co.Ltd(300012)
Key combinations: Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) , Zhejiang Hangke Technology Incorporated Company(688006) , Shanghai Friendess Electronic Technology Corporation Limited(688188) , Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) , Guangdong Lyric Robot Automation Co.Ltd(688499) , Fujian Nebula Electronics.Ltd(300648) , Sinoseal Holding Co.Ltd(300470) , Yantai Jereh Oilfield Services Group Co.Ltd(002353) , Guangzhou Kdt Machinery Co.Ltd(002833) , Beijing Huafeng Test & Control Technology Co.Ltd(688200) , Shanghai Kelai Mechatronics Engineering Co.Ltd(603960) , Guangdong Yizumi Precision Machinery Co.Ltd(300415) , Oke Precision Cutting Tools Co.Ltd(688308) , Zhuzhou Huarui Precision Cutting Tools.Co.Ltd(688059)
Suggested attention: Shenzhen United Winners Laser Co.Ltd(688518) , Qingdao Hiron Commercial Cold Chain Co.Ltd(603187)
Special topic of this week: how to view that new renewable energy and raw material energy are no longer included in the total energy consumption control?
According to the central economic work conference, the new statement is that the new renewable energy and raw material energy will not be included in the total energy consumption control. We believe that this is mainly because the State encourages the transformation from "double control" of energy consumption to "double control" of total carbon emission and intensity as soon as possible.
The photovoltaic industry has benefited relatively from this change in the assessment mechanism. Due to the processing of polysilicon materials upstream of photovoltaic, it has the property of high energy consumption (the energy consumption per kilogram of polysilicon in the 20th year was 11.5kg standard coal, which was close to the high-energy consumption industries listed by the national development and Reform Commission, such as coal to ethylene glycol). This year, polysilicon was frequently affected by power restriction and production restriction, which exacerbated the pressure on the silicon supply end and the sharp rise in the upstream price of photovoltaic to a certain extent. The sharp rise in the upstream price led to the obvious weakening of the power to expand the production of battery chips and other links, and the three and four In the quarter, the industry's sentiment of expanding production dropped to the freezing point. We believe that the expansion of the battery segment is relatively restrained this year. Therefore, the battery devices with significant pressure on the stock price in the early stage are expected to usher in repair opportunities, including Suzhou Maxwell Technologies Co.Ltd(300751) , Wuhan Dr Laser Technology Corp.Ltd(300776) , Wuxi Autowell Technology Co.Ltd(688516) , Yingkou Jinchen Machinery Co.Ltd(603396) , etc.
In addition, the energy consumption of new raw materials is not included in the total energy consumption control. The meaning of raw material energy consumption is: raw material energy consumption refers to the energy consumption used as raw materials, that is, fossil energy is not used as fuel, but as raw materials for the production of products. After the double carbon policy this year, taking the newly signed contract amount of China National Chemical Engineering Co.Ltd(601117) coal chemical industry and petrochemical industry as an example, the number of newly signed projects in the half year decreased significantly compared with the same period last year, and the industry demand was suppressed to a certain extent. After the change of the assessment mechanism, the demand is expected to pick up at the bottom. Related equipment targets: Yantai Jereh Oilfield Services Group Co.Ltd(002353) , Sinoseal Holding Co.Ltd(300470) , Warom Technology Incorporated Company(603855) , etc.
Special equipment:
1) Lithium battery equipment: lithium battery equipment is one of the most promising special equipment tracks. The future catalyst of the industry is clear. Lgipo began to inquire from overseas institutions + Contemporary Amperex Technology Co.Limited(300750) fixed increase + Yiwei expansion of production, etc. all constitute the catalyst for next year. It is suggested to pay attention to: Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Shenzhen United Winners Laser Co.Ltd(688518) , Zhejiang Hangke Technology Incorporated Company(688006) , Anhui Wanyi Science And Technology Co.Ltd(688600) , Shenzhen Jpt Opto-Electronics Co.Ltd(688025) .
2) Medium and large displacement motorcycles: China's two wheeled motorcycles have gradually changed from small displacement to large displacement. From the sales data, from January to September this year, the cumulative sales volume of 250cc + displacement motorcycles in China was 235000, a year-on-year increase of + 59%; Among them, the cumulative sales volume of 250-400cc displacement motorcycles was 164000, a year-on-year increase of + 76%; The cumulative sales volume of 400-750cc displacement motorcycles was 72000, a year-on-year increase of + 31%. The larger the displacement of motorcycles, the higher the overall price. Therefore, the ceiling of the industry also increases gradually with the increase of motorcycle displacement. Continue to recommend: Zhejiang Cfmoto Power Co.Ltd(603129) .
Construction machinery: in October, the sales volume of excavators was - 30.6% year-on-year, and the overseas market continued to grow rapidly: 18964 sets of various excavation machinery products were sold in October, a year-on-year decrease of 30.6%. Among them, 12608 units were sold in the Chinese market, a year-on-year decrease of 47.2%; The export sales volume was 6356 units, a year-on-year increase of 84.8%. Investment suggestion: focus on the leader α， Focus on: Sany Heavy Industry Co.Ltd(600031) , Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) , Jiangsu Hengli Hydraulic Co.Ltd(601100) .
Risk tip: macroeconomic downturn or major policy changes, infrastructure and real estate investment fell sharply; Sino US trade frictions affect China's investment sentiment; The epidemic situation of pneumonia abroad affects the supply of imported raw materials and the demand of export market. The calculation is subjective and only for reference.
