Industrial automation
China is in the process of industrial transformation. The shortage of labor force, the rise of labor price and the diversification of demand must be solved by “machines replacing people”. Low quality, low price and low-end industrial automation brands can no longer meet the quality demand of China’s manufacturing industry and are gradually eliminated by the market. Domestic brand leaders rely on localization advantages, service advantages and engineer dividends to accelerate the narrowing of the market share gap, and the industry concentration is expected to further move closer to advantageous enterprises. It is suggested to focus on Shenzhen Inovance Technology Co.Ltd(300124) , Wuxi Xinje Electric Co.Ltd(603416) , Estun Automation Co.Ltd(002747) , China Leadshine Technology Co.Ltd(002979) , Kede Numerical Control Co.Ltd(688305) , Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) , Zhejiang Supcon Technology Co.Ltd(688777) , Dongguan Yiheda Automation Co.Ltd(301029) , Opt Machine Vision Tech Co.Ltd(688686) .
Photovoltaic equipment
With the implementation of photovoltaic policies and the promotion of photovoltaic projects in various countries, the overseas market space continues to open, and the export volume of China’s photovoltaic products is expected to rise, further releasing China’s photovoltaic capacity. The technology iteration of photovoltaic industry is very rapid. Each technology iteration can make the products obtain higher efficiency and lower production cost. It is suggested to focus on Shenzhen S.C New Energy Technology Corporation(300724) , Suzhou Maxwell Technologies Co.Ltd(300751) , Yingkou Jinchen Machinery Co.Ltd(603396) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , etc.
Inspection and testing section:
China has become the fastest growing and most potential market in the world. China’s inspection and testing industry is in the stage of rapid development. Under the policy dividend of “simplifying administration and delegating power” and “releasing management and service”, the number of third-party private inspection and testing institutions continues to increase; On the other hand, large enterprises can use the capital market to finance at a lower cost, which has significant advantages in comprehensive expansion and promoting industry integration, and promote the improvement of industry concentration. It is suggested to focus on Guangzhou Grg Metrology&Test Co.Ltd(002967) , Centre Testing International Group Co.Ltd(300012) , Pony Testing International Group Co.Ltd(300887) , Suzhou Sushi Testing Group Co.Ltd(300416) , Jiangsu Liance Electromechanical Technology Co.Ltd(688113) .
Intelligent logistics sector
The industrial processes involved in intelligent logistics need to use information transmission and transmission. Due to space constraints, it is suitable to use wireless transmission mode. The construction and application of 5g will provide high-speed and high-quality information channels. Earth shaking changes will occur in both the development of intelligent logistics products and the friendliness of subsequent products. It is suggested to focus on Bluesword Intelligent Technology Co.Ltd(688557) , Eurocrane (China) Co.Ltd(603966) , Nanjing Inform Storage Equipment (Group) Co.Ltd(603066) , etc.
Semiconductor equipment
Chinese mainland, China’s largest semiconductor equipment demand area, is heavily dependent on imports, which not only affects China’s semiconductor industry, but also poses a major threat to the security of China’s information industry. The localization of semiconductor manufacturing is bound to drive the localization of equipment. The import substitution trend of domestic equipment is obvious and the substitution space is huge. The next decade is the era of electric and intelligent vehicles. Electric and intelligent vehicles need considerable sensors, while intelligent cockpit, vehicle vehicle communication, vehicle road coordination, electronic technology instead of mechanical technology will significantly stimulate the demand for semiconductors. It is suggested to focus on Advanced Micro-Fabrication Equipment Inc.China(688012) , Naura Technology Group Co.Ltd(002371) , shengmei Shanghai, Hangzhou Chang Chuan Technology Co.Ltd(300604) , Wuhan Jingce Electronic Group Co.Ltd(300567) , etc.
Industry rating and investment strategy
The manufacturing industry remains volatile, China’s medium and long-term intelligent manufacturing upgrading trend, and the high-end equipment industry will have a broad market space. It is suggested to focus on industrial automation (general servo / PLC, industrial Siasun Robot&Automation Co.Ltd(300024) , high-end machine tools, machine vision, FA parts, etc.), semiconductor equipment, etc; On the other hand, driven by “double carbon”, new energy related industries such as lithium, photovoltaic, wind power, nuclear power and “low-carbon” driven high-efficiency fluid machinery, intelligent logistics, testing and inspection also benefit for a long time, giving the machinery industry an “overweight” rating.
Risk statement
The manufacturing industry has declined, and the scale and progress of infrastructure investment are lower than expected; The spread of the global epidemic will lead to slow economic recovery; Increased competition in the industrial automation industry has led to a decline in profitability; The landing of new technologies of photovoltaic enterprises is lower than expected; Recommend the risk that the company’s performance does not meet expectations, etc.
