Recommend rehabilitation medical equipment, lithium battery equipment, semiconductor equipment, panel equipment, photovoltaic equipment, knives, etc.: Xiangyumedicalco.Ltd(688626) (688626), Wuxi Lead Intelligent Equipment Co.Ltd(300450) (300450), Suzhou Maxwell Technologies Co.Ltd(300751) (300751), Wuxi Autowell Technology Co.Ltd(688516) (688516), Shenzhen S.C New Energy Technology Corporation(300724) (300724), Opt Machine Vision Tech Co.Ltd(688686) (688686), Shanghai Friendess Electronic Technology Corporation Limited(688188) (688188), Zhejiang Hangke Technology Incorporated Company(688006) (688006), Guangdong Lyric Robot Automation Co.Ltd(688499) (688499), China National Electric Apparatus Research Institute Co.Ltd(688128) (688128), Shenzhen Xinyichang Technology Co.Ltd(688383) (688383) Hunan Baili Engineering Sci & Tech Co.Ltd(603959) (603959), Wuhan Dr Laser Technology Corp.Ltd(300776) (300776), Shenzhen United Winners Laser Co.Ltd(688518) (688518), Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) (688559), China Tungsten And Hightech Materials Co.Ltd(000657) (000657), Oke Precision Cutting Tools Co.Ltd(688308) (688308), Zhuzhou Huarui Precision Cutting Tools.Co.Ltd(688059) (688059), Shareate Tools Ltd(688257) (688257), etc.
Key industry trends: Contemporary Amperex Technology Co.Limited(300750) lithium battery capacity continued to expand, and PMI margin improved in December. 1) Contemporary Amperex Technology Co.Limited(300750) announced that the board of directors of the company reviewed and approved the proposal on investing in the construction of phase 7-10 project of Yibin manufacturing base of power battery, and planned to invest in the construction of phase 7-10 project of Yibin manufacturing base of power battery through the wholly-owned subsidiary Sichuan Times New Energy Technology Co., Ltd., which will be completed within 20 months. It is estimated that the production capacity will be about 400gwh by the end of 2022. 2) In December 2021, China’s manufacturing PMI continued to rise to 50.3%, with a month on month increase of 0.2 percentage points. The manufacturing boom level rebounded for two consecutive months. It is recommended to continue to pay attention to the pro cyclical high-end manufacturing sectors such as Siasun Robot&Automation Co.Ltd(300024) , industrial control and cutting tools.
Key recommendation: continue to recommend Zhuhai Bojay Electronics Co.Ltd(002975) . 1) The business covers RF, acoustic, electrical, optical, visual inspection equipment and assembly equipment, and has a strong competitive advantage in the subdivided fields. With the improvement of 3C industry, the company is expected to meet the rapid development. 2) The R & D expense rate is maintained at about 10%, which helps the continuous change of products. 3) At the same time, we have high-quality customer resources, accumulated profound process understanding and experience in long-term cooperation, and have strong core competitiveness. 4) In 2020, the company participated in Dingtai Xinyuan and cooperated with the company’s business layout in the semiconductor field. In 2021, the company issued convertible bonds to expand production and overweight the semiconductor field, which is expected to increase the company’s valuation. 5) The company develops visual inspection equipment with visual technology as the core. Odway has entered the fifth to sixth year of product incubation, and the performance of its six-sided inspection equipment has reached the leading level. In addition, the company has successfully developed AOI glass appearance inspection equipment for defect detection of cover glass of consumer electronics products. It is expected that the company’s visual inspection business will usher in rapid development.
Investment suggestions: 1) recommend the leader of rehabilitation medical equipment Xiangyumedicalco.Ltd(688626) . 2) Lithium battery detection has become a new growth point of machine vision, focusing on the layout of enterprises in the whole industry Opt Machine Vision Tech Co.Ltd(688686) . 3) There is a large downstream space for lithium battery equipment, and the equipment company has strong certainty. It is recommended to Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Guangdong Lyric Robot Automation Co.Ltd(688499) , Zhejiang Hangke Technology Incorporated Company(688006) , China National Electric Apparatus Research Institute Co.Ltd(688128) , Shenzhen United Winners Laser Co.Ltd(688518) , Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) . 4) Focus on high-quality panel equipment enterprises Suzhou Hyc Technology Co.Ltd(688001) , Shenzhen Xinyichang Technology Co.Ltd(688383) . 5) The laser cutting control system faucet Shanghai Friendess Electronic Technology Corporation Limited(688188) is recommended. 6) Hit is expected to become the next generation of mainstream battery chip technology, and Suzhou Maxwell Technologies Co.Ltd(300751) , Wuhan Dr Laser Technology Corp.Ltd(300776) are recommended. 7) Other concerns: Beijing Huafeng Test & Control Technology Co.Ltd(688200) , Leader Harmonious Drive Systems Co.Ltd(688017) , Zhejiang Supcon Technology Co.Ltd(688777) , etc. (Note: Xiangyumedicalco.Ltd(688626) , Shanghai Friendess Electronic Technology Corporation Limited(688188) , Zhejiang Supcon Technology Co.Ltd(688777) are jointly covered by Huaxi machinery and medicine, small and medium-sized disk and computer teams respectively).
Risk tip: the fluctuation of economic growth increases; The order acquisition of relevant enterprises is less than expected.
