Last week, the mechanical equipment index fell 2.50%, the Shanghai and Shenzhen 300 index rose 1.11%, and the gem index fell 2.72%. Machinery and equipment ranked 18th in the rise and fall of all 28 industries.
This week’s view
Semiconductor equipment: Advanced Micro-Fabrication Equipment Inc.China(688012) 21 new orders increased by 90% year-on-year. ASML’s new EUV lithography machine aims at more advanced technology and higher production capacity. According to the performance forecast disclosed by Advanced Micro-Fabrication Equipment Inc.China(688012) , the operating revenue is expected to be 3.108 billion yuan in 2021, with a year-on-year increase of 36.73%; The net profit attributable to the parent company in the same period is expected to be 950-1.03 billion yuan, with a year-on-year increase of 93.01% – 109.26%; The amount of newly signed orders was 4.13 billion yuan, an increase of about 90.5% year-on-year. In 2021, the revenue of etching equipment was 2.004 billion yuan, with a year-on-year increase of about 55.44% and a gross profit margin of 44.4%; In 2021, MOCVD equipment revenue was 503 million yuan, with a year-on-year increase of about 1.5%, and the gross profit margin reached 33.1%, which was significantly higher than 18.7% in 2020. According to ASML’s recent performance presentation, its new generation EUV lithography twinscanexe: 5200 has received Intel’s first order, with a higher numerical aperture of 0.55 and higher production efficiency. At the same time, it is developing a new generation EUV equipped with high NA technology, which can produce 1nm chips and is expected to be put into operation in 2025. Semiconductor equipment manufacturers continue to benefit from the active expansion of global wafer factories. At the same time, with the evolution of advanced process nodes, higher requirements are put forward for equipment performance, sustainability and production efficiency. Local semiconductor equipment manufacturers with international standards are expected to meet a larger performance window. Shengmei Shanghai, Wuhan Jingce Electronic Group Co.Ltd(300567) , Advanced Micro-Fabrication Equipment Inc.China(688012) , Naura Technology Group Co.Ltd(002371) , Kingsemi Co.Ltd(688037) , Beijing Huafeng Test & Control Technology Co.Ltd(688200) , Shanghai Wanye Enterprises Co.Ltd(600641) , Hangzhou Chang Chuan Technology Co.Ltd(300604) are recommended. It is recommended to pay attention to Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Thinkon Semiconductor Jinzhou Corp(688233) , Gallen electronics, National Silicon Industry Group Co.Ltd(688126) , Shanghai Anlogic Infotech Co.Ltd(688107) .
Wind power equipment: Shanghai announced the competitive allocation scheme of 300000 kW offshore wind power project, and the trend of large-scale offshore wind turbine is obvious. On January 11, the Shanghai Municipal Development and Reform Commission announced the notice on the competitive allocation work plan of Jinshan offshore wind farm phase I project, with a development scale of about 300000 kW. According to the notice, the allocation proportion of energy storage shall not be less than 20% and the duration shall be more than 4 hours. In addition, the construction period requirements are also emphasized, and it must be promised that the project will be completed and connected to the grid by the end of 2023. According to Fengmang energy, recently, the Three Gorges Yangjiang Qingzhou five, six and seven offshore wind power projects totaled 3gw, and the bidding for 300MW wind turbine units and auxiliary equipment of zheneng Taizhou No. 1 offshore wind farm project all required a single unit capacity of more than 7mw, marking the full entry of offshore wind turbines into the megawatt era. Since 2021, the bidding volume of wind power has been significantly higher than that in the same period of 2020. According to Xinjiang Goldwind Science And Technology Co.Ltd(002202) , 41.9gw of bidding volume was added in China’s wind power open bidding market in the first three quarters of 2021, a year-on-year increase of 115.1%. In 2022, wind power bidding continued to be released. In January, only Datang Group started bidding for 5GW wind turbine frame, and the annual bidding volume is worth looking forward to. The wind power industry is in the stage of rapid development. At present, the land wind has achieved parity, the large-scale sea wind continues to reduce costs and parity is imminent, and the leaders in all links will continue to benefit. Jiangyin Hengrun Heavy Industries Co.Ltd(603985) is recommended. It is recommended to pay attention to Haili wind power and Ningbo Orient Wires & Cables Co.Ltd(603606) .
Photovoltaic equipment: in 2021, 53gw of photovoltaic equipment was added, and the cumulative installed capacity exceeded 300gw. A new steel sector printing technology was launched, and a breakthrough was made in reducing the cost of silver paste. According to the statistics of the national energy administration, China’s newly added photovoltaic power generation grid connected installed capacity in 2021 was about 53 million KW, ranking first in the world for nine consecutive years. By the end of 2021, the installed capacity of grid connected photovoltaic power generation had reached 306gw, ranking first in the world for seven consecutive years. Recently, Suzhou Maxwell Technologies Co.Ltd(300751) launched an innovative technology about Cecep Solar Energy Co.Ltd(000591) battery screen printing – full opening Cecep Solar Energy Co.Ltd(000591) battery steel sector printing technology, which plays a vital role in reducing silver paste consumption. Because the grid line printing area is a full opening structure and the printing height is uniform, under the condition of manufacturing batteries with the same efficiency, the silver paste heterojunction can be saved by about 20%. With its advantages in yield, cost and efficiency, it has attracted great attention from various battery manufacturers. Up to now, the capacity planning of China’s hjt project has exceeded 130gw. It is suggested to pay attention to the core equipment manufacturers with leading layout and dominant technology on hjt. Recommend Suzhou Maxwell Technologies Co.Ltd(300751) and pay attention to Wuxi Autowell Technology Co.Ltd(688516) .
Lithium battery equipment: LG new energy is about to be launched, and Korean ski has entered the period of capacity expansion. According to the big data of starting point lithium, LG energy solution has begun to accept investors’ subscription. It plans to log on to the Korean stock exchange on January 27 and start trading. It plans to raise up to US $10.8 billion (about RMB 68.8 billion). The funds raised this time will be mainly used to expand the company’s existing production facilities and repay debts. On January 17, South Korean power battery leader ski held the commencement ceremony of 30GW power battery project in Yancheng Economic Development Zone. After reaching a settlement with LG new energy, ski quickly started to expand production and gradually expand globally. According to ski’s latest planning, it is expected to reach 85gwh in 2023, 220gwh in 2025 and more than 500gwh in 2030. At the same time, according to our incomplete statistics, the production capacity of China’s mainstream manufacturers is expected to exceed 1twh by 2025, of which the planned production capacity of catl exceeds 700gwh, Byd Company Limited(002594) exceeds 180gwh, and the planned production capacity of honeycomb energy reaches 600gw. Under the accelerated production expansion layout of battery manufacturers, the lithium battery equipment industry will fully benefit. Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Zhejiang Hangke Technology Incorporated Company(688006) , Shanghai Sk Automation Technology Co.Ltd(688155) are recommended.
Recommended combination
Key recommended combinations: shengmei Shanghai, Wuhan Jingce Electronic Group Co.Ltd(300567) , Advanced Micro-Fabrication Equipment Inc.China(688012) , Naura Technology Group Co.Ltd(002371) , Kingsemi Co.Ltd(688037) , Beijing Huafeng Test & Control Technology Co.Ltd(688200) , Shanghai Wanye Enterprises Co.Ltd(600641) , Hangzhou Chang Chuan Technology Co.Ltd(300604) , Jiangyin Hengrun Heavy Industries Co.Ltd(603985) , Suzhou Maxwell Technologies Co.Ltd(300751) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Zhejiang Hangke Technology Incorporated Company(688006) , Shanghai Sk Automation Technology Co.Ltd(688155) , Kunshan Dongwei Technology Co.Ltd(688700) , Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) , Sany Heavy Industry Co.Ltd(600031) , Jiangsu Hengli Hydraulic Co.Ltd(601100) ;
Recommended targets: Zhejiang Dingli Machinery Co.Ltd(603338) , Shaanxi Construction Machinery Co.Ltd(600984) , Guangxi Liugong Machinery Co.Ltd(000528) , Haili wind power, Ningbo Orient Wires & Cables Co.Ltd(603606) , Wuxi Autowell Technology Co.Ltd(688516)
Risk tips
Risk warning: the impact of the epidemic exceeds expectations; The localization of semiconductor equipment has slowed down and price competition has intensified.
