Market review:
Rise and fall of mechanical equipment this week: Shenwan mechanical equipment industry fell 2.18% this week, 0.49 percentage points lower than Shanghai and Shenzhen 300 index, ranking 25th among Shenwan 31 industries; Shenwan machinery and equipment sector has fallen by 1.78% so far this month, outperforming the Shanghai and Shenzhen 300 index by 0.08 percentage points and ranking 21st among Shenwan 31 industries; Shenwan machinery and equipment sector has decreased by 10.85% year to date, 1.86 percentage points lower than the Shanghai and Shenzhen 300 index, ranking 22nd among Shenwan 31 industries.
The secondary sector of mechanical equipment rose or fell this week: as of March 4, among the five secondary sectors of Shenwan mechanical equipment industry, the rail transit equipment sector had the smallest decline of 0.40% from the performance of this week. Other sectors showed as follows: the special equipment sector fell 0.74%, the general equipment sector fell 1.82%, the automation equipment sector fell 3.03%, and the construction machinery sector fell 4.30%.
Rise and fall of mechanical equipment stocks: as of March 4, the top three stocks in the mechanical equipment sector this week were Deshi shares, Jiangsu Seagull Cooling Tower Co.Ltd(603269) , Zhejiang Zhongjian Technology Co.Ltd(002779) , with an increase of 40.86%, 32.14% and 24.18% respectively. The first three stocks in the mechanical equipment sector fell this week were Amsky Technology Co.Ltd(300521) , Shenzhen Changhong Technology Co.Ltd(300151) , Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) , down 14.64%, 13.97% and 13.79% respectively.
Valuation of mechanical equipment this week: as of March 4, the PE TTM of Shenwan mechanical equipment sector was 22.28 times. PE TTM of general equipment, special equipment, rail transit equipment, construction machinery and automation equipment are 22.02 times, 31.17 times, 15.96 times, 12.88 times and 42.55 times respectively.
Zhou viewpoint of mechanical equipment industry:
Construction machinery: the government work conference proposed to actively expand effective investment and moderately advance infrastructure investment, which is expected to support the recovery of the prosperity of the downstream infrastructure industry. The implementation and commencement of old urban communities, two new and one heavy projects, the issuance of superimposed special bonds will accelerate, and the demand for construction machinery and equipment will increase. It is suggested to pay attention to the leaders in the construction machinery industry: Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) ( Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) ), Xcmg Construction Machinery Co.Ltd(000425) ( Xcmg Construction Machinery Co.Ltd(000425) ), Guangxi Liugong Machinery Co.Ltd(000528) ( Guangxi Liugong Machinery Co.Ltd(000528) ).
Risk warning: policy change risk; Risk of weakening overseas demand; The issuance of special bonds is less than the expected risk, etc.
