Market review:
Rise and fall of mechanical equipment this week: Shenwan mechanical equipment industry fell by 2.50% this week, 1.56 percentage points lower than Shanghai and Shenzhen 300 index, ranking 20th among Shenwan 31 industries; Shenwan machinery and equipment sector has fallen 8.97% so far this month, 2.08 percentage points lower than the Shanghai and Shenzhen 300 index, ranking 23rd among Shenwan 31 industries; Shenwan machinery and equipment sector has decreased by 17.37% year to date, 3.72 percentage points lower than the Shanghai and Shenzhen 300 index, ranking 24th among Shenwan 31 industries.
The secondary sector of mechanical equipment rose or fell this week: as of March 18, among the five secondary sectors of Shenwan mechanical equipment industry, the construction machinery sector had the smallest decline of 1.61% from the performance of this week. The performance of other sectors was as follows: the general equipment sector fell 2.14%, the special equipment sector fell 2.32%, the rail transit equipment sector fell 3.36%, and the automation equipment sector fell 3.68%.
Rise and fall of individual mechanical equipment stocks: as of March 18, the top three stocks in the mechanical equipment sector this week were Hangzhou Everfine Photo-E-Info Co.Ltd(300306) , Anshan Heavy Duty Mining Machinery Co.Ltd(002667) , Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) , up 67.89%, 25.71% and 20.54% respectively. The first three stocks in the mechanical equipment sector fell this week were Wenyi Trinity Technology Co.Ltd(600520) , Silvery Dragon Prestressed Materials Co.Ltd Tianjin(603969) , and Juguang technology, down 17.91%, 17.55% and 14.97% respectively.
Valuation of mechanical equipment this week: as of March 18, the pettm of Shenwan mechanical equipment sector was 20.69 times. The pettm of general equipment, special equipment, rail transit equipment, construction machinery and automation equipment are 20.45 times, 29.57 times, 14.85 times, 11.83 times and 38.13 times respectively.
Zhou viewpoint of mechanical equipment industry:
Automation equipment: from January to February 2022, the industrial Siasun Robot&Automation Co.Ltd(300024) cumulative output is still growing at a high speed. With the support of national policies and planning, the improvement of technology and core competitiveness of enterprises in the industry and high cost performance factors, the demand for Chinese enterprises’ products outside China is expected to continue to increase. It is expected that the industrial Siasun Robot&Automation Co.Ltd(300024) output will maintain a high growth rate in the future. (0027Ē002.
Construction machinery: in February 2022, the sales volume of most construction machinery and equipment maintained a year-on-year negative growth, and the export sales volume maintained a high growth. In terms of subdivided fields, the sales volume of forklift trucks outside China increased significantly year-on-year; The sales volume of high-tech machinery in China is growing rapidly and the export sales volume is growing negatively. It is expected to maintain this sales trend for the time being. In the future, with the increase of the number of projects in downstream industries, it is expected to drive the demand for construction machinery. It is suggested to pay attention to: Anhui Heli Co.Ltd(600761) ( Anhui Heli Co.Ltd(600761) ), Hangcha Group Co.Ltd(603298) ( Hangcha Group Co.Ltd(603298) ), Zhejiang Dingli Machinery Co.Ltd(603338) ( Zhejiang Dingli Machinery Co.Ltd(603338) ).
Risk warning: macroeconomic downturn risk; Risk of weakening demand in downstream industries; Infrastructure / real estate investment is less than expected risk.
