Machinery industry view: (1) automotive electronics: Sales of new energy vehicles will increase greatly, with favorable policies and automotive electronics will benefit in depth. In the 1-5 month of 2018, the sales and sales of new energy vehicles increased by 122.9/141.6% compared to the same period last year. Among them, the production and sales of pure electric vehicles increased by 105.1/124.7% compared to the same period last year. In June 12, 2018, the new energy vehicle subsidy was formally implemented. Driven by the trend of light weight, miniaturization, intellectualization and electrification, the automotive electronics industry has seen a rapid growth. With the increasing demand for new energy vehicles, its dependence on automotive electronics is growing. It is suggested that the key focus on Ke Lai mechatronics and British beating. (2) semiconductor equipment: silicon wafer momentum is fierce, vehicle NOR flash memory is booming, good semiconductor equipment. The silicon wafer industry is rising, and the global wafer says the wafer capacity is full in 2020. Customers begin to negotiate for 2021-2025 years, and the price will not be lower than 2020 prices, and semiconductor equipment is expected to benefit deeply. The automotive market has led to a high NOR flash memory and the Chinese market has become a hot spot. Automobile has gradually become the main application of NOR Flash, and is expected to become the focus of our manufacturers. It is suggested that the northern Huachang and Chang Chuan science and technology should be focused on. (3) lithium equipment: domestic and foreign manufacturers actively layout, lithium devices benefit. The mainstream forklift main plant is actively introducing lithium batteries, and the new expansion of power battery manufacturers is coming soon. LG chemical, Samsung SDI and other overseas power battery giant enterprises accelerate the distribution of China's new energy vehicles without subsidies; domestic battery manufacturers should improve the battery energy density, prolong battery life, improve product safety performance, and actively deal with the opportunities and challenges brought by the overseas giants. It is suggested that we should focus on pilot intelligence, win win technology, and Ke Heng shares. (4) construction machinery: continuous recovery of demand and optimization of market structure. In the 1-5 month of 2018, the sales volume of construction machinery was high, the market share of domestic brands reached 53.7%, and the market structure was continuously optimized. At present, ZOOMLION is actively participating in the construction of Xiong an new area. The huge infrastructure construction in the future will have a huge driving effect on the construction machinery industry. It is recommended to focus on Sany and Xugong machinery. (5) oil service: high price of oil and clear historical burden, and the acceleration of the performance of oil service companies. Last week, US commercial crude oil inventories fell more than market expectations, indicating stronger demand. In addition, the market is worried that US sanctions against Iran will reduce global crude oil supply. International oil prices have risen continuously. In the first quarter of 2018, in addition to the service of Anton oil field (undisclosed), the impairment loss of the assets of Jerry, China man oil, Hui Bo and Tong Yuan oil sea original project all realized a certain turn, accompanied by the high price of oil prices, the increase of capital expenditure of oil companies, the improvement of the profit of the oil company, the historical baggage after the clearing. The performance flexibility of the company will be accelerated. It is suggested to pay attention to the shares of Jerry and Tong Yuan oil.
Last week's market review: machinery and equipment sector index rose 2.28%
Last week (2018.6.25-2018.6.29), the machinery and equipment industry index rose 2.28%, won the Shanghai and Shenzhen 300 index 4.86 percentage points, won the CSI 500 index 1.36 percentage points, run the gem index 1.92 percentage points, overall performance in 28 industries in sixth. 5 of the 13 biggest rising sectors were computer (6.71%), defense and military (4.46%), communications (3.01%), textile and clothing (2.91%), and electronics (2.55%); the other 15 sectors fell, and the biggest declines were real estate (-6.54%), steel (-6.36%), bank (-4.94%), and construction. Materials (-4.13%), food and beverage (-3.37%).
Risk analysis: 1, domestic investment in fixed assets is not expected, resulting in lower investment in the middle reaches of the middle reaches of machinery and equipment, making the mechanical plate order and performance growth rate less than expected. 2, the policy of landing in key areas is lower than expected, resulting in slower growth in downstream industries and insufficient investment in machinery and equipment in the middle reaches.
