Nearly 80% of the more than 360 national specialized and new “little giant” enterprises on the new third board and the Beijing stock exchange belong to the equipment intelligent manufacturing, TMT and new materials industries. Among the fast-growing segments, such as photovoltaic, lithium battery, cloud computing, optical communication and semiconductors, the new third board and the Beijing stock exchange have many potential companies. With the development of the industry, they can grow in the future.
these segments have drama
Huatai Securities Co.Ltd(601688) Huang Leping, head of TMT research group and chief analyst of technology and electronics, believes that the performance growth space of specialized Texin company mainly depends on three dimensions: first, industrial space. If the enterprise life cycle is divided into four stages: introduction period, growth period, maturity period and recession period, the market penetration is between 10% and 70%, which belongs to the “growth period”. The subdivided fields at this stage include photovoltaic, lithium battery, cloud computing and optical communication, wind power, Siasun Robot&Automation Co.Ltd(300024) , CXO (pharmaceutical research outsourcing) and semiconductor. Second, the degree of localization. Among the top ten emerging industries, the average localization rate in semiconductor, Siasun Robot&Automation Co.Ltd(300024) , intelligent automobile and other fields is less than 50%, which needs to be improved. Third, there is room to improve the industry concentration. He believes that when the market share of the top three companies is in the range of 30% to 70%, the market share of the industry leaders is expected to increase rapidly.
Therefore, if the subdivision track of enterprises on the new third board and the Beijing stock exchange is in the growth stage, and the company ranks among the top five in the industry, there will be great potential for future performance growth. Industry insiders believe that based on the above three-dimensional analysis, a considerable number of companies such as beiteri, Liancheng CNC, Jilin Carbon Valley, jingsai technology and Chuangyuan instrument can expect high growth in the future.
intelligent equipment manufacturing accounts for 40%
According to the relevant research report of Anxin securities, there are 151 equipment intelligent manufacturing companies in the Beijing stock exchange and the new third board specialized special new “little giant” companies, accounting for 40%. They are distributed in the fields of industry, transportation and battery, and mainly in the industrial field. Zhu Haibin, the research director of the new third board of Anxin securities, designed screening indicators for potential companies from four perspectives: volume, scale, profitability, growth capacity and cash flow. For example, the net profit attributable to the parent company in 2020 is more than 30 million yuan, and the three-year compound growth rate is more than 26%; In 2020, the gross profit margin is greater than 30% and the net profit margin is greater than 10%. There are five companies that meet the above four conditions: Wuxin tunnel equipment, Zhongke Meiling, Zhonghuan, Haishan seal and Xuchang intelligent.
Zhongke Meiling is a joint venture between Sichuan Changhong Meiling Co.Ltd(000521) and the Institute of physical and chemical technology of the Chinese Academy of Sciences, mainly engaged in the R & D, production and sales of low-temperature refrigeration equipment and products. In 2020, the company’s operating revenue and net profit were 373 million yuan and 46.0421 million yuan respectively, with a year-on-year increase of 67.18% and 178.75%. The performance growth stems from the market recognition of the new generation of medical refrigerator products. As the first manufacturer of medical ultra-low temperature refrigerated storage boxes in China, the company’s ultra-low temperature refrigeration core refrigeration technology “cryogenic mixed refrigerant throttling refrigeration technology and its application” won the second prize of national technical invention.
Smart grid is the future development direction of power grid, and the industry will enter a period of rapid growth. Xuchang intelligent is mainly engaged in the R & D, design, assembly, sales and service of intelligent power distribution products and systems. At present, Xuchang intelligent is developing a new generation of distribution network automation system, regional (Park) energy integrated monitoring system, distribution network primary and secondary integration products, and optical storage and charging integration system.
TMT grew rapidly
According to the relevant research report of Anxin securities, there are 95 TMT companies specializing in special new “little giants” on the new third board, mainly distributed in three industries: electronic hardware, computer related and communication equipment. Their compound growth rates of revenue in the last three years are 16.4%, 22.0% and 15.2% respectively. In terms of revenue, there are three companies with a revenue of more than 500 million yuan in 2020, namely huaxida, Honghui Guangtong and Fujida; In terms of profit, there are 12 companies whose net profit attributable to the parent company will reach more than 50 million yuan in 2020, of which the highest is thermal image technology, reaching 81.87 million yuan.
By the end of last year, among the communication equipment companies, Honghui Guangtong had the most invention patents, with 39. Its main business involved two sub industries of optical communication materials and optical devices, and had high-quality customers in Huawei, Changfei and other industries. The number of invention patents owned by Guoji technology and Sinan navigation followed, with 15 invention patents. Sinan navigation is currently in the listing guidance period. The company has won the national science and Technology Progress Award for many times. It is one of the few satellite navigation enterprises in China to realize the industrialized application of Beidou. In addition, in the field of communication equipment, CEC micro pass waveguide technology is in a leading position in China. The main reason for the great increase in the performance of thermal imaging technology is that the company has developed an intelligent thermal imager for temperature screening.
Among the major segments of electronic equipment, specialized Texin company in the semiconductor industry has the highest compound growth rate in recent three years, reaching 30.8%. By the end of last year, Haineng technology and Zhongxun Sifang had disclosed the largest number of invention patents, with 21 patents, followed by fortek, Helong optimization and Gaohua shares, with 19, 18 and 17 invention patents respectively. The main products of Haineng technology are analytical instruments and overall solutions, and the downstream application fields are food, medicine, life science, agriculture, chemical industry, environmental protection, etc; The main products of Zhongxun Sifang are SAW devices, microwave components and modules, which are mainly used in the fields of communication, consumer electronics, satellite navigation, aerospace and military industry.
there are a number of “small and beautiful” enterprises in the field of new materials
At present, 67% of the specialized new “little giant” companies in the field of new materials are still in the basic layer of the new third board. To some extent, this shows that there are still a large number of “small and beautiful” companies waiting for investors to explore.
Zhu Haibin scored according to a total of 10 indicators: R & D expense rate, revenue in 2020, net profit in 2020, compound growth rate of revenue / net profit in recent three years, revenue and year-on-year growth in the first half of this year, net profit and year-on-year growth in the first half of this year, and net operating cash flow / operating income. Finally, the score was from high to low, Sort the “little giant” companies specialized in the field of new materials. Gurun technology, wood chain network, Ningxin new material, kungong technology, Baichuan technology, Zhongjiao regeneration and Yuanxiang new material rank first.
Gurun technology’s main medium and high-end photoinitiators are key materials in the light curing industry. As a new energy-saving and environment-friendly material, UV curing materials are closely related to new technology. Products can not only replace traditional coatings, inks and adhesives, but also be widely used in emerging fields such as 3D printing, electronic information, medical health and so on.
Ningxin new material is an enterprise specializing in the production of high-purity graphite. It is one of the largest enterprises in China’s special graphite industry and has high popularity and influence in the industry. The company is applying for listing on the gem. The downstream industries of the company are mainly lithium battery, photovoltaic, machinery, electronics, rail transit, national defense and military, aerospace, nuclear industry and other industries. With the rapid development of the industry, the company has completed the first phase of the project with an annual output of 18000 tons of special graphite and 6000 tons of lithium-ion battery cathode materials. At present, the second phase of the project has been started.
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(Shanghai Securities News)
