Industry stock market performance: the Shen Wan machinery and equipment industry index (2018.05.07-2018.05.11) rose 1.58% this week, up 2.60% in the Shanghai and Shenzhen 300 index and 1.02 percentage points in the running market. In all two sub industries of Shin Wan machinery and equipment industry, the subsidiary industry of the stock price increase is other general machinery (3%), internal combustion engine (2.7%), printing and packaging machinery (2.4%), and the subindustry of the stock price falls is the agricultural machinery (-2.2%). As of May 11th, the overall market earnings ratio of Shin Wan machinery industry is 37, and Shanghai and Shenzhen 300 overall P / E ratio is 13. In the main machinery sub industries, the price earnings ratio of railway equipment, construction machinery and building equipment is relatively low, and the price earnings ratio of agricultural machinery, heavy machinery, metallurgical mining and chemical equipment and other industries is higher.
(1) mining machinery industry data fast report in April 2018: 25 mainframe manufacturing enterprises, which were included in statistics in 1-4 months of 2018, sold all kinds of mining machinery products in 86622 sets, up 57.9%. In April 2018, a total of 26561 mining machinery products were sold, representing an increase of 84.5% over the same period. (2) the new digital manufacturing base of the new robot reducer of Qinchuan group: in May 11th, the construction ceremony of the digital workshop of the robot reducer of Qinchuan machine tool group was held in Baoji jiangtan Industrial Park. The total investment of the digital production workshop for the robot reducer of Qinchuan group is 1 billion yuan, with an area of 28000 square meters. It is mainly composed of the constant temperature precision processing workshop, the constant temperature precision assembly workshop and the auxiliary facilities. After completion, it will effectively improve the productivity of the Qinchuan Industrial robot reducer and reach 180 thousand sets of manufacturing capacity.
Company dynamics: (1) the signing of orders by cli mechatronics and joint electronics; Huayuan holdings established a wholly-owned subsidiary. (2) the non public issuance of Shenyang machine tools was approved by the SFC; the Mitutoyo intelligently obtained the approval of the shares to purchase assets and raised the supporting funds; (3) the shareholders of Cost, San base shares, Hengrun shares, Qianshan drug machine and Huijin stock share of the shares to reduce their shares;
Last week, the main research report: the trend of profit improvement continues, and the sustained growth sector is worth watching.
Investment recommendations: industry boom degree differentiation, some industries continue to boom high, it is recommended to pay attention to sustained growth of the prosperity plate. (1) after 3 years of valuation and digestion, some industrial robots have greatly improved their technological strength and scale, and recommended the electrical, mechanical and electrical industries. (2) semiconductor equipment, as a national heavy device, has been supported by many policies. It is suggested that we should pay attention to domestic semiconductor equipment companies such as Huachang, Chang Chuan technology and pure technology. (3) the lithium power industry continues to boom, focusing on lithium power equipment and lithium logistics automation enterprises, recommending the leading intelligence, today's international and win win technology. (4) the oil price is stable at $70 / barrel, and actively pays attention to the oil and gas industry chain investment opportunities at the stage of profitable repair. We will continue to recommend Dazu laser, pioneer intelligence, precision measurement electronics, Ashton, new Austrian stock, Connie Electromechanical, Hengli hydraulic company and so on.
Risk hints: if the macroeconomic fluctuations, the growth of national fixed asset investment growth decline, mechanical plate performance will be significantly affected; if the upstream raw materials including steel, aluminum and other prices rise substantially, the increase in the cost of the middle reaches of the enterprise, the direct impact on the overall gross profit rate of the industry; if the oil price falls, the global oil enterprise capital expenditure If the industrial robots and laser equipment are in the stage of import substitution, if the investment in R & D in the domestic enterprises is insufficient and the market is slow, the related enterprises can not reach the expected risk. Due to the impact of Sino US trade war, some machinery enterprise products are listed on the sanctions list to affect the company's export business in recent years. If the future trade war is upgraded, it will have a great impact on the whole manufacturing industry.
