Plate Market: last week (2022.2.282022.3.4), the mechanical equipment industry index fell 2.18%, ranking 25th among the 31 Shenwan industries. Last week and since the beginning of the year, the secondary sub industries of Shenwan of mechanical equipment have declined. Last week (2022.2.282022.3.4), the rise and fall of construction machinery, automation equipment, general equipment, special equipment and rail transit equipment II were – 4.30%, – 3.03%, – 1.82%, – 0.74% and – 0.40% respectively. Year to date (as of March 4, 2022), the rise and fall of construction machinery, automation equipment, general equipment, special equipment and rail transit equipment II are – 14.04%, – 12.23%, – 12.14%, – 7.48% and – 3.95% respectively. The current (2022.3.4) pe (TTM) valuation of mechanical equipment sector is 24. Distinguish the secondary sub industries of mechanical equipment Shenwan, and the PE (TTM) valuation of automation equipment is relatively high, which is 45.65; The PE (TTM) valuation of construction machinery is relatively low, which is 11.76.
Stock market: Deshi shares, Jiangsu Seagull Cooling Tower Co.Ltd(603269) , Zhejiang Zhongjian Technology Co.Ltd(002779) , Fujian Snowman Co.Ltd(002639) and Sufa Technology Industry Co.Ltd.Cnnc(000777) , ranked among the top five gainers last week (2022.2.282022.3.4); The top five declines were Amsky Technology Co.Ltd(300521) , Shenzhen Changhong Technology Co.Ltd(300151) , Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) , Shenzhen Xinyichang Technology Co.Ltd(688383) and Qingdao Hiron Commercial Cold Chain Co.Ltd(603187) .
Industry trends: on March 5, the fifth session of the 13th National People’s Congress opened at the Great Hall of the people in Beijing. The premier of the State Council delivered a government work report to the Congress on behalf of the State Council, referring to steady growth, carbon peak carbon neutralization, scientific and technological innovation and other contents, which are closely connected with infrastructure, new energy, intelligent manufacturing and other machinery related fields.
Shanghai Stock Exchange issued the action plan for carbon peak and carbon neutralization during the 14th Five Year Plan period; The Ministry of industry and information technology will launch the pilot city of comprehensive electrification of vehicles in the public sector, and the construction of charging and replacing infrastructure will be accelerated; Inner Mongolia issued the 14th five year plan for hydrogen energy development.
Company dynamics: last week, many companies released 2021 annual performance express, including Suzhou Harmontronics Automation Technology Co.Ltd(688022) , Guangdong Lyric Robot Automation Co.Ltd(688499) , Jee Technology Co.Ltd(688162) , Shanghai Sk Automation Technology Co.Ltd(688155) and Henan Thinker Automatic Equipment Co.Ltd(603508) . In addition, Xi’An Shaangu Power Co.Ltd(601369) subsidiary invested in air separation project and coke technology upgrading project, supporting coke oven gas comprehensive utilization project The Shenzhen Anche Technologies Co.Ltd(300572) consortium signed the EPC contract for the first phase of the charging infrastructure construction project of RMB 210 million.
Industry data: in February, the purchasing manager index (PMI) of manufacturing industry was 50.2%, up 0.1pct from the previous month, continuing to be higher than the critical point, and the prosperity level of manufacturing industry increased slightly; The production index was 50.4%, down 0.5pct from the previous month, higher than the critical point, indicating that the expansion of manufacturing production activities has slowed down; The new order index was 50.7%, up 1.4pct from the previous month, returning to the expansion range, indicating that the prosperity of manufacturing market demand picked up.
Investment suggestions: (1) “double carbon” and new energy main line: accelerate the market-oriented layout of the new energy storage industry chain, recommend the turbine machinery faucet Xi’An Shaangu Power Co.Ltd(601369) , and pay attention to the energy storage and fire fighting Jade Bird Fire Co.Ltd(002960) ; Recommendations for industrial gases Xi’An Shaangu Power Co.Ltd(601369) and Hangzhou Oxygen Plant Group Co.Ltd(002430) ; Recommended for lithium battery equipment Wuxi Lead Intelligent Equipment Co.Ltd(300450) .
(2) main line of steady growth: stimulated by the main tone of steady growth policy, the expectation of accelerating the stabilization and recovery of infrastructure investment is strengthened. We are optimistic about construction machinery related companies, recommend Jiangsu Hengli Hydraulic Co.Ltd(601100) , and pay attention to Yantai Eddie Precision Machinery Co.Ltd(603638) .
(3) in addition, geopolitics has pushed up oil prices, and the fracturing equipment leader recommended in the oil and gas equipment and oil service industry chain Yantai Jereh Oilfield Services Group Co.Ltd(002353) ; Electric and intelligent vehicles are the future trend. Pay attention to the leader of new energy vehicle equipment production line Dalian Haosen Equipment Manufacturing Co.Ltd(688529) .
Risk analysis: the risk of macroeconomic fluctuations; The risk of infrastructure investment falling short of expectations; The risk of international trade friction; The risk of intensified market competition.
