Summary (core view):
Manufacturing transformation + domestic substitution dual logic drive, intelligent manufacturing is forging ahead. The domestic substitution rate of Intelligent Manufacturing in China is still low. In recent years, frequent policies have helped the development of intelligent manufacturing industry. Under this background, the added value of high-tech industry has been increasing. As of October 2021, the industrial Siasun Robot&Automation Co.Ltd(300024) output has increased by 51.9%. In 2022, the pressure of price rise of raw materials such as steel and aluminum is expected to be relieved. Benefiting from the improvement of cost, the profitability of intelligent manufacturing industry will be further repaired, and the market performance is expected.
Laser processing has precision characteristics, which can better meet the needs of manufacturing upgrading. With the improvement of the level and precision of China's manufacturing industry, and affected by national energy conservation and emission reduction, rising labor costs and other factors, the demand for business transformation of traditional industries is becoming increasingly urgent. New technologies and equipment are needed to improve production efficiency and quality. Laser technology and corresponding equipment will be more favored.
The disappearance of demographic dividend gives birth to the demand for machine replacement, and policy can accelerate the speed of machine replacement. The proportion of China's labor force population in the total population has decreased year by year. The continuous contraction of the supply of school-age labor force has led to the gradual disappearance of the demographic dividend, the cost of manufacturing labor force has increased year by year, and machine replacement has become an inevitable trend. On December 28, 2021, the Ministry of industry and information technology and other fifteen departments jointly issued the "14th five year plan" Siasun Robot&Automation Co.Ltd(300024) industrial development plan, pointing out that during the 14th Five Year Plan period, a number of Siasun Robot&Automation Co.Ltd(300024) core technologies and high-end products will be promoted to make breakthroughs. Under the background of policy empowerment, Siasun Robot&Automation Co.Ltd(300024) accelerated development can be expected.
Suggestions: Wuhan Raycus Fiber Laser Technologies Co.Ltd(300747) , Han'S Laser Technology Industry Group Co.Ltd(002008) , Leader Harmonious Drive Systems Co.Ltd(688017) , Shenzhen Inovance Technology Co.Ltd(300124) , Estun Automation Co.Ltd(002747)
Risk tips: technical risk, Sino US trade friction risk, adverse risk of epidemic control, risk of macroeconomic fluctuation, risk of further rise in the price of raw materials such as steel.
