\u3000\u3 China Vanke Co.Ltd(000002) 747 Estun Automation Co.Ltd(002747) )
The company is a Siasun Robot&Automation Co.Ltd(300024) leading enterprise in domestic industry, with a shipment of more than 10000 units in 2021. The company has always been a leading enterprise in the Siasun Robot&Automation Co.Ltd(300024) industry of domestic industry. According to the data released by the company, the company's industrial Siasun Robot&Automation Co.Ltd(300024) shipment exceeded 10000 units in 2021, of which the shipment of six axis Siasun Robot&Automation Co.Ltd(300024) accounted for more than 80%, which ushered in a breakthrough compared with the annual shipment of less than 6000 units in 2020. This year, the company still takes rapid expansion as its main goal, and it is expected that Siasun Robot&Automation Co.Ltd(300024) shipments will continue to maintain high growth. In terms of production capacity, Estun Automation Co.Ltd(002747) Siasun Robot&Automation Co.Ltd(300024) Intelligent Industrial Park Phase II project is under intensive construction. It is planned to complete the capital construction by the end of 2022 and start the production capacity climbing in 2023, and finally realize the production capacity of 50000 units.
Industrial Siasun Robot&Automation Co.Ltd(300024) downstream has strong demand and broad space in the future. According to the latest IFR data, China's Siasun Robot&Automation Co.Ltd(300024) use density has reached 2.46 million units / person in 2020, an increase of more than 5 times compared with 49 Units / person in 2015, but there is still a big gap compared with 932 units / person in South Korea. According to the Siasun Robot&Automation Co.Ltd(300024) data of senior engineer , the Siasun Robot&Automation Co.Ltd(300024) sales volume of Chinese industry reached 248000 units in 2021, with a year-on-year increase of 46%. At this stage, the demand of industrial Siasun Robot&Automation Co.Ltd(300024) in automobile, 3C electronics, new energy industry and general industry is growing rapidly. If it is compared with South Korea, the demand of Chinese industrial Siasun Robot&Automation Co.Ltd(300024) still has three times space and is expected to reach the sales level of one million units.
CLOOS continues to consolidate and enhance its competitive advantage. With the completion of CLOOS integration, the company's welding Siasun Robot&Automation Co.Ltd(300024) has entered many leading enterprises of construction machinery. At the same time, the company has been building the whole industry chain of "core components + body + Siasun Robot&Automation Co.Ltd(300024) integrated application". Through the integration of resources outside China, the company has made breakthroughs in the business development of some leading enterprises in lithium battery, 3C, photovoltaic, semiconductor and other industries. With strong competitive advantages, the company is expected to enter the international head array in 2025.
Profit forecast and investment suggestions: it is estimated that the operating revenue of the company from 2021 to 2023 will be 3.328 billion yuan, 4.776 billion yuan and 6.209 billion yuan respectively, and the net profit attributable to the parent company will be 152 million yuan, 293 million yuan and 458 million yuan respectively, corresponding to EPS of 0.18 yuan, 0.34 yuan and 0.53 yuan respectively, maintaining the "buy" rating.
Risk tip: industry competition intensifies and downstream demand is less than expected
