Core combination [core combination] of the core combination of the core combination of ‘s Wuxi Lead Intelligent Equipment Co.Ltd(300450) 012 , Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) , Hangzhou Honghua Digital Technology Stock Company Ltd(688789) , Hunan Kaimeite Gases Co.Ltd(002549) / Yingkou Jinchen Machinery Co.Ltd(603396) / Robotechnik Intelligent Technology Co.Ltd(300757)
[Key stock pool] Jade Bird Fire Co.Ltd(002960) , Shanghai Sk Automation Technology Co.Ltd(688155) , Beijing Tianyishangjia New Material Corp.Ltd(688033) , Zhejiang Windey Co.Ltd(300772) , Riyue Heavy Industry Co.Ltd(603218) , Jiangsu Hengli Hydraulic Co.Ltd(601100) , Zhejiang Shuanghuan Driveline Co.Ltd(002472) , Ningbo Lehui International Engineering Equipment Co.Ltd(603076) , Guangdong Lyric Robot Automation Co.Ltd(688499) , Zhejiang Hangke Technology Incorporated Company(688006) , Ficont Industry (Beijing) Co.Ltd(605305) , Shenzhen S.C New Energy Technology Corporation(300724) , Hangzhou Great Star Industrial Co.Ltd(002444) , China National Electric Apparatus Research Institute Co.Ltd(688128) , Naura Technology Group Co.Ltd(002371) , Advanced Micro-Fabrication Equipment Inc.China(688012) , Wuhan Jingce Electronic Group Co.Ltd(300567) , Trina Solar Co.Ltd(688599) , Zhejiang Cfmoto Power Co.Ltd(603129) , Zhejiang Dingli Machinery Co.Ltd(603338) , Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) , Shaanxi Construction Machinery Co.Ltd(600984) , Zhejiang Jiecang Linear Motion Technology Co.Ltd(603583) , Jiangsu Guomao Reducer Co.Ltd(603915) , China Railway Hi-Tech Industry Corporation Limited(600528) The Zhejiang Huatie Emergency Equipment Science & Technology Co.Ltd(603300) Shanghai Friendess Electronic Technology Corporation Limited(688188) , Guangzhou Grg Metrology&Test Co.Ltd(002967) , Hangcha Group Co.Ltd(603298) , Canny Elevator Co.Ltd(002367) , Jack Sewing Machine Co.Ltd(603337) , Guangzhou Kdt Machinery Co.Ltd(002833) , Guangdong Huate Gas Co.Ltd(688268) , Vt Industrial Technology Co.Ltd(300707)
[last week’s report] [ North Industries Group Red Arrow Co.Ltd(000519) ] depth: cultivate diamond + industrial diamond, and the dual drive of military and civilian products, the leader of intelligent ammunition of Ordnance Group. [ Zhejiang Cfmoto Power Co.Ltd(603129) ] expected rise in tariff exemption; The company’s export of large displacement two wheeled vehicles is expected to become a new growth point. [ Hangzhou Great Star Industrial Co.Ltd(002444) ] US tariff exemption involves company products; Great flexibility in future performance. [ Zhejiang Hangke Technology Incorporated Company(688006) ] equity incentive shows confidence, and the performance is expected to accelerate this year and next year. [ Shenzhen Hymson Laser Intelligent Equipments Co.Ltd(688559) ] won Eve Energy Co.Ltd(300014) 430 million orders, and the new orders signed throughout the year are expected to continue to grow at a high rate. [ Ningbo Lehui International Engineering Equipment Co.Ltd(603076) ] build 30 km fresh beer factories in Changsha and Shenyang, and accelerate the “100 cities and 100 factories” strategy.
[core view] we are optimistic about new energy equipment, semiconductor equipment, industrial gas, diamond cultivation and silicon carbide
[photovoltaic / wind power equipment] this week, Longji raised the price of silicon wafer again by about 2%, and the demand for photovoltaic is upward Jolywood (Suzhou) Sunwatt Co.Ltd(300393) it is planned to expand 100000 tons of silicon material and adopt silane fluidized bed method to add new players to the granular silicon industry Jiangsu Zhongli Group Co.Ltd(002309) , Runyang plans to build 5GW heterojunction batteries respectively, and the industrialization of heterojunction batteries is expected to accelerate. The photovoltaic equipment continues to recommend Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Suzhou Maxwell Technologies Co.Ltd(300751) , Wuxi Autowell Technology Co.Ltd(688516) , Wuxi Shangji Automation Co.Ltd(603185) , Yingkou Jinchen Machinery Co.Ltd(603396) , Shenzhen S.C New Energy Technology Corporation(300724) , etc.
From January to February 2022, wind power was connected to the grid by 5.73gw (+ 60%), with a year-on-year increase of 2.17gw. According to preliminary statistics, at least 22 provinces have announced the specific installed capacity. During the “14th five year plan” period, the total scale of wind power and photovoltaic power exceeds 600gw. Assuming that wind power and photovoltaic power account for 50% respectively, the cumulative installed capacity of wind power will increase by 300gw during the 14th Five Year Plan period and about 48gw in 2021. It is expected that there will still be an average annual installed capacity of more than 60GW in the next four years. The valuation of major wind power companies in 2022 has entered the range of 20-30 times. It is recommended that Zhejiang Windey Co.Ltd(300772) , Riyue Heavy Industry Co.Ltd(603218) , Ficont Industry (Beijing) Co.Ltd(605305) , Asian Star Anchor Chain Co.Ltd.Jiangsu(601890) , and is optimistic about Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) , Ningbo Orient Wires & Cables Co.Ltd(603606) , Haili wind power, Ming Yang Smart Energy Group Limited(601615) , etc.
[lithium battery equipment] China Automobile Association released that the sales volume of new energy vehicles from January to February was 765000, a year-on-year increase of 155%; Among them, 334000 vehicles were sold in February, with a year-on-year increase of 184%, exceeding market expectations. The retail penetration rate of new energy vehicles in China is 21.8%, 13 percentage points higher than the penetration rate of 8.1% in the same period in 2021. The passenger Association predicts that the sales volume of new energy vehicles will be 6 million in 2022, with a penetration rate of 22%. We are optimistic about the equipment opportunities brought by new technologies such as 4680 large cylindrical lithium battery, lamination machine, chemical capacity division and power exchange. To recommend a lithium powered device leader Wuxi Lead Intelligent Equipment Co.Ltd(300450) \ , Jdm Jingda Machine(Ningbo)Co.Ltd(603088) etc.
[semiconductor equipment] semi estimates that in 2022, the total equipment expenditure of global front-end wafer factories will increase by 18% year-on-year to US $107 billion, a record high; Hebei Tongguang released the IPO guidance and filing report, and plans to build 2000 SiC growth furnace bases and Shanghai Pudong Development Bank Co.Ltd(600000) SiC substrate processing bases with a total investment of 4 billion yuan Sanan Optoelectronics Co.Ltd(600703) and ideal automobile set up a joint venture to lay out the automotive SiC chip and module market. Recommend Robotechnik Intelligent Technology Co.Ltd(300757) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Naura Technology Group Co.Ltd(002371) ; Be optimistic about Advanced Micro-Fabrication Equipment Inc.China(688012) , Wuhan Jingce Electronic Group Co.Ltd(300567) , Hangzhou Chang Chuan Technology Co.Ltd(300604) , Pnc Process Systems Co.Ltd(603690) , Beijing Huafeng Test & Control Technology Co.Ltd(688200) , etc.
[industrial gas] affected by the conflict between Russia and Ukraine, the price of rare gas has accelerated in the short term. The prices of krypton, xenon and neon continued to rise this week, reaching 46000 yuan / m3, 445000 yuan / m3 and 12500 yuan / m3 respectively. It is estimated that China’s industrial gas market space is nearly 200 billion yuan, which is expected to cultivate large market value companies, and the market value of overseas comparable companies is Tsinghua Tongfang Co.Ltd(600100) billion; We are optimistic about the domestic substitution of electronic special gas. The short-term price fluctuation caused by the conflict between Russia and Ukraine will benefit China industrial gas company. Recommend Hunan Kaimeite Gases Co.Ltd(002549) , and look forward to Hangzhou Oxygen Plant Group Co.Ltd(002430) , Guangdong Huate Gas Co.Ltd(688268) , Suzhou Jinhong Gas Co.Ltd(688106) .
[cultivating diamonds] the prosperity of cultivating diamonds is upward. Recommend North Industries Group Red Arrow Co.Ltd(000519) , and look forward to Henan Liliang Diamond Co.Ltd(301071) , Henan Huanghe Whirlwind Co.Ltd(600172) , Sinomach Precision Industry Co.Ltd(002046) , Sf Diamond Co.Ltd(300179) , etc.
[construction machinery] affected by the epidemic situation, CME estimates that the sales volume of excavators (including exports) will be about 40000 in March 2022, with a year-on-year growth rate of about – 49%, and a decrease of about 36 PCT month on month. With the commencement of major projects, the decline in Q2 is expected to narrow. The sales volume of excavators will be about 310000 in 2022, a year-on-year decrease of about 10%. Recommend Sany Heavy Industry Co.Ltd(600031) , Jiangsu Hengli Hydraulic Co.Ltd(601100) , Zhejiang Dingli Machinery Co.Ltd(603338) , Hangcha Group Co.Ltd(603298) , Xcmg Construction Machinery Co.Ltd(000425) ; Watch Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) , Shaanxi Construction Machinery Co.Ltd(600984) , Anhui Heli Co.Ltd(600761) , Zhejiang Huatie Emergency Equipment Science & Technology Co.Ltd(603300) .
[oil and gas equipment] ice oil distribution exceeds US $110 / barrel, reaching an 8-year high. It is recommended to Yantai Jereh Oilfield Services Group Co.Ltd(002353) , Sinoseal Holding Co.Ltd(300470) , and is optimistic about China Oilfield Services Limited(601808) , etc.
[inspection and testing] recommended Centre Testing International Group Co.Ltd(300012) ; Continue to be optimistic about Guangzhou Grg Metrology&Test Co.Ltd(002967) , Shenzhen Anche Technologies Co.Ltd(300572) , China Building Material Test & Certification Group Co.Ltd(603060) , Suzhou Sushi Testing Group Co.Ltd(300416) .
[consumption upgrading / overseas export] it is expected that the cost end of the export industrial chain will be marginally improved. In February, the industry’s large displacement two wheeled vehicles were + 37% year-on-year, and the company’s 250cc + two wheeled vehicles were + 348% year-on-year. Highlight Zhejiang Cfmoto Power Co.Ltd(603129) , Ningbo Lehui International Engineering Equipment Co.Ltd(603076) , Zhejiang Jiecang Linear Motion Technology Co.Ltd(603583) , Zhejiang Dingli Machinery Co.Ltd(603338) , Hangzhou Great Star Industrial Co.Ltd(002444) , Hangzhou Youngsun Intelligent Equipment Co.Ltd(603901) , Guangdong Jinma Entertainment Corporation Limited(300756) .
[fire electronics] the State Council issued the notice on the national emergency system planning for the 14th five year plan, emphasizing that the key points of the 14th five year plan include emerging business forms such as electric vehicles, electric bicycles and electrochemical energy storage facilities, and urging catering and other industries to strive to install gas leakage alarm devices. Recommend Jade Bird Fire Co.Ltd(002960) ; Watch Guoanda Co.Ltd(300902) .
[digital printing] Xiyin plans to invest 15 billion yuan to build the “Xiyin Bay district supply chain headquarters” in Guangzhou, which is expected to accelerate the rapid increase of China’s digital printing penetration. Recommend Hangzhou Honghua Digital Technology Stock Company Ltd(688789) , Guangdong Dongfang Precision Science & Technology Co.Ltd(002611) .
Risk tips: 1) infrastructure and real estate investment is lower than expected; 2) Covid-19 epidemic spread beyond the expected risk.
