The cumulative growth rate of industry Siasun Robot&Automation Co.Ltd(300024) in the first four months was negative, and the cycle since 2020 has come to an end
According to wind data, the industrial Siasun Robot&Automation Co.Ltd(300024) industry produced 32535 units per month in April 2022, a year-on-year decrease of 8.40%, which is also the negative growth of single month in more than two years after reversing the negative growth of single month in October 2019. In the first four months of 2022, the cumulative output was 125439 units, a year-on-year decrease of 1.40%.
After the cumulative growth rate reached a new high in early 2021, the growth rate of China's industrial Siasun Robot&Automation Co.Ltd(300024) industry continued to decline month by month. By April 2022, the year-on-year cumulative growth rate fell to a negative value, indicating that the new cycle of industrial Siasun Robot&Automation Co.Ltd(300024) industry since 2020 has come to an end.
The epidemic affected the growth rate of fixed asset investment in manufacturing industry, which led to the decline of industrial Siasun Robot&Automation Co.Ltd(300024) industry
In 2020, the completed investment in fixed assets increased by 2.9%; After the year-on-year growth of 34.10% in February 2021, the completed investment in fixed assets in 2021 decreased month by month, and the final annual growth rate was 4.9%. In the context of steady growth, the growth rate in the first two months of 2022 was 12.20%. However, affected by the Chinese epidemic, the growth rate of fixed asset investment fell to 9.30% and 6.80% respectively in March and April, dragging down the growth of industrial Siasun Robot&Automation Co.Ltd(300024) industry.
According to the classification of fixed asset investment, the growth rate of fixed asset investment in manufacturing industry in the first two months was 20.90%, but it fell to 15.60% in March and further fell to 12.20% in April. Although it continued to be higher than the overall growth rate of fixed asset investment, the decline was more significant. The fixed asset investment in automobile and communication electronic equipment, which is closely related to the industry Siasun Robot&Automation Co.Ltd(300024) also declined: the fixed asset investment in automobile manufacturing industry increased by - 3.70% in 2021, 11.3% year-on-year in the first two months of 2022, and further increased to 12.40% in March, but fell back to 10.40% in April; The growth rate of computer, communication and other electronic equipment manufacturing industry in the first two months of 2022 was 35.10%, which was also higher than 22.30% in 2021. However, the cumulative growth rate in the first three months fell to 27.80% and 22.10% in April.
The steady growth policy will promote the rise of infrastructure investment and contribute to the stability of the industrial Siasun Robot&Automation Co.Ltd(300024) industry
China's Siasun Robot&Automation Co.Ltd(300024) industry experienced a round of rapid growth from 2016 to 2017 driven by the upgrading of manufacturing industry; However, from 2018 to 2019, due to the rising downward pressure of the overall economy, the industry entered a trough. A new cycle will be launched in 2020, with an annual growth rate of 44.90% in 2021. Previously, affected by factors such as the post issuance of special bonds in 2021 and the pre issuance of special bonds in 2022, China's fixed asset investment rebounded once, driving the stabilization of the industrial Siasun Robot&Automation Co.Ltd(300024) industry; However, since March and April, the epidemic situation in China has been repeated, which once again affected the growth rate of the industry. It is expected that after the epidemic is controlled, China's fixed asset investment will rebound rapidly, which will contribute to the stability of the industrial Siasun Robot&Automation Co.Ltd(300024) industry. However, the annual growth rate in 2022 will be difficult to reproduce the glory of 21 years.
Investment advice
Industry Siasun Robot&Automation Co.Ltd(300024) is an important focus to promote the upgrading and digitization of China's manufacturing industry and one of the core tasks for China's development of digital economy. In the context of China's steady growth in 2022, fixed asset investment has become an important force to ensure the steady growth of GDP, which will benefit the industrial Siasun Robot&Automation Co.Ltd(300024) industry related to manufacturing investment. However, the industrial Siasun Robot&Automation Co.Ltd(300024) industry as a whole has shown negative growth. Even if China's infrastructure investment after the epidemic control is strong, the annual growth rate of industrial 30 Guangzhou Echom Sci.&Tech.Co.Ltd(002420) 22 is expected to be at a low level. Maintain the "overweight" rating of the industry.
Risk tips
If the effect of epidemic control in China is not ideal, it will affect the recovery of fixed asset investment.
