Machinery industry: manufactur下裡ing business climate rebounded sign科靜ificantly

Date:2021-04-06 Click:308

Key investment points:

Last week's market

Last week, the CSI 300 rose 3.74 perce報讀nt, Shenwan machinery and equipm玩靜ent sector rose 2.37 percent, los慢術ing 1.38 percentage points to 店技the market, in Shenwan all the fi花土rst-level industries in the 17th p件我lace, 18 sub-sectors 11 up and 理音down, including performance Th術河e top 5 sub-sectors were constructio區下n machinery, metal products III, oth離市er specialized machinery, prin要路ting and packaging machinery, texti地工le and garment equipment, up 4.的資71%, 4.19%, 3.90%, 3.29% and 2.68%, re鐘師spectively. In terms of valuation, as o著學f the latest close, Shenwan Machinery and Equipment Sector Price-earnings ratio (TTM, overal行上l method, excluding negative values) wa請短s 29.09 times, compared with the動舊 valuation premium ratio of the樂都 CSI 300 at 97%.

In terms of individual stocks, titan 廠報shares (28.92%), Maiwei shares (23.07%)花議, Shandong Weida (20.68%), Jinto shar對那es (18.87%), Rongjie shares (18.6歌現3%), the largest decline The prev媽國ious ones were Huning Shares (-鐵理29.74%), Fida Environmental Pro小請tection (-16.86%), C Tongye (-16.如北41%), Today Venture Group (-15.湖化79%), Hongyu Shares (-12.63%).

Industry news

1) The PMI in March was 51.9%, 這鐵and the business climate of the請體 manufacturing sector rebounded si車照gnificantly.

2) The ratio of research and devel票廠opment expenses plus deduction for man弟來ufacturing enterprises has been incre又討ased from 75% to 100%.

Company news

1) China Sinochem Group Co., Ltd.嗎能 and China Chemical Group Co., Ltd. 愛人were approved for reorganization.

2) Guorui Technology was grant的暗ed a 22.5% stake in Zhejiang Beiyi呢風 and signed an equity transfer ag舞拿reement.

3) Nanfeng shares received 57.17 milli我是on yuan of Zhejiang BJ project 西影bid notice.

This week's industry strategy an能內d individual stock recommendations

In terms of construction machiner書科y, although the growth trend of sa高討les of major construction machinery i們飛n the first two months of the year 錢得is related to the lower base caused by城新 the impact of the outbreak in the爸不 same period last year, but com那劇pared with the same period in 2黑相019, excavator sales increased訊亮 by 57% YoY, forklift sales inc區國reased by 44% YoY, confirming that the妹吃 industry is still in high bus就嗎iness climate, the future with th作計e global epidemic gradually allevia輛紅ted after the popularity of vaccines明你, excavator export data is expect男務ed to maintain a steady recove街湖ry trend, the overall sales of excava司報tors is expected to achieve about 10% g玩可rowth in 2021. In this expectation事舊, it is recommended to focus on the c見員onstruction machinery leader S靜但any Heavy Industries (600031), construc短她tion machinery (600984), and the cor雜白e component manufacturer Hangli 金城Hydraulics (601100).

In terms of industrial robots, Chi習和na's manufacturing PMI was 51.9見睡% in March, the 13th consecuti關志ve month above the line. Benef鄉草iting from the improvement of t時窗he overall environment of downstream ma姐知nufacturing industry, China's cumulative production of industrial robots in the first two months of 2021 was 454,000 units, up 117.6% YoY. 金吃At present, China is in the manufa離和cturing capacity from low-end to hi件志gh-end transformation of an important s都上tage, with China's demographic 街兵dividend gradually fade and industrial robot prices continue to explore, the price difference be會愛tween the two has been significantly 車花reduced, machine replacement wi水物ll become an important trend of the fu紙通ture manufacturing transformation, in市新 the process it is recommended t子商o pay attention to the domestic dece些她lerator leader green harmonics (688媽錯017), system integration field 秒嗎leader Tusta (300607).

Previous: Zhongshan factory waste machi雜事nery recycling where there is - 討可Xinhua News Next: Multiple benefits pulled the mac日窗hinery industry up more than expected

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Last week, the CSI 300 rose 3.74 pe們科rcent, Shenwan machinery and eq聽畫uipment sector rose 2.37 percent, 喝在losing 1.38 percentage points to the睡雪 market, in Shenwan all the fir來都st-level industries in the 17th plac身音e, 18 sub-sectors 11 up and do的大wn, including performance The top 5算了 sub-sectors were construction machiner員哥y, metal products III, other speci數作alized machinery, printing and pack地南aging machinery, textile and garme什要nt equipment, up 4.71%, 4.19%, 3.9嗎很0%, 3.29% and 2.68%, respectively.窗雜 In terms of valuation, as of th做外e latest close, shenwan machinery快物 and equipment sector price-earnings能器 ratio (TTM, overall method, e女高xcluding negative values) was 29.09 t做鄉imes, compared with the valuat文些ion premium ratio of the CSI 300 of 97%白熱. In terms of individual stoc學票ks, titan shares (28.92%), Maiwei sh街習ares (23.07%), Shandong Weida (20.68鄉短%), Jinto shares (18.87%), Rongji亮場e shares (18.63%), the largest decline身算 The previous ones were Huning Sh明男ares (-29.74%), Fida Environmental 對東Protection (-16.86%), C Tongye (-16呢錢.41%), Today Venture Group (-15.79%)花什, Hongyu Shares (-12.63%).

Machinery industry: manufacturing business climate rebounded significantly

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