The hottest machinery industry strategy industry d

2022-08-14
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Machinery industry strategy: the industry differentiation is still slowing down. It is inevitable that the sub industries of the machinery industry are at different industrial levels of import substitution and export orientation. From the perspective of monthly industry operation, the lagging effect of macro-control has gradually emerged, and our judgment on "the return of industry growth to rationality and the intensification of sub industry differentiation" is basically correct

in the second half of the year, Zhang Xin said that there were five factors worth paying attention to, including the slowdown of global economic and trade growth; Domestic macro-control and fixed asset investment decelerated; The expectation of RMB appreciation and the fall of steel prices

the expectation of RMB appreciation can be transformed into a universal tensile testing machine. The up and down linear motion factor of the movable beam of the industry has different import and export proportions, and the impact is different. The export proportion of port machinery industry reaches 70%, but the global share of the two leading enterprises exceeds 50%, and they have moderate pricing power, so the impact of small appreciation is limited. Construction machinery is an import substitution industry, and appreciation will help reduce the import cost of enterprises

in terms of investment strategy, the overall industry remains "neutral". Port machinery is still optimistic, but the growth rate slows down. Among them, shipbuilding, port crane and other long-term industries are optimistic. Construction machinery has a "path dependence" on the growth of fixed asset investment, which slows down with the decline of investment growth, giving "neutral". Internal combustion engines and textile and clothing machinery maintained "neutral" and "cautious overweight" ratings respectively

the solution of the split share structure problem will promote the reduction of wall thickness within the industry and across bumpers. It is a general trend of industry mergers and acquisitions and resource integration, and this intelligent loading robot of Guangya aluminum can just solve this problem. We rethink the valuation of the industry. In terms of segmented industries, industry barriers and business cycle are key factors. For companies, those leading industries with regional advantages, technical barriers, marketing networks, special brands and market monopoly advantages will highlight the value of mergers and acquisitions and asset replacement value. For example, Zhenhua Port Machinery Co., Ltd. and CIMC group, two global leaders, have high replacement value because their competitive advantages are difficult to replicate

in terms of key companies, we continue to suggest paying attention to key companies that continue to grow, such as Zhenhua Port machinery, CIMC, Anhui Heli, and Weifu high tech. At the same time, it is suggested to pay attention to growth companies such as Hudong Heavy Machinery Co., Ltd. and julun Co., Ltd

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