Analysis on the performance of mechanical equipmen

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Analysis on the performance of the mechanical equipment industry in the first half of 2013

in the first half of 2013, the mechanical equipment industry said that it was slightly stronger than the overall market performance. From the performance of listed mechanical equipment companies, in the first quarter of this year, nearly 10% of the listed Japanese Fixture Companies' revenue fell by more than 30% year-on-year, and nearly 33% of the listed companies' revenue fell by 0%-30%. Analysts believe that although the overall decline in investment has brought great constraints to the machinery manufacturing sector, the performance differentiation will be more obvious due to attribute differences within the segments, Machinery manufacturing enterprises of energy conservation and environmental protection may have a better performance in the second half of the year

according to the pre disclosure of the interim report, the performance of the 161 listed companies currently disclosed tends to be positive, including metallurgical mining and chemical industry, instruments and meters, environmental protection equipment, building equipment, local special machinery, electrical automatic control equipment, motors, power transmission and transformation equipment and other sub industries. In the pre disclosure, the performance tends to be negative. The industries mainly include construction machinery, heavy machinery, textile and clothing equipment, machine tools and mechanical basic parts. From the specific performance forecast, nearly 29% of the listed companies' profits fell by more than 30% year-on-year, and nearly 20% of the listed companies' profits fell by 0%-30% year-on-year. The overall performance of the industry is not optimistic

it is also the judgment of the overall macroeconomic situation that restricts the overall performance of the machinery manufacturing industry in the normal temperature state. Analysts believe that the growth rate of fixed asset investment in 2013 will be lower than that in 2012, and the cumulative year-on-year growth rate may be about 19% to 20%. According to historical experience, it is estimated that the growth rate of fixed asset investment in the machinery industry in 2013 may be about 18%-19%, which will continue to narrow compared with 2012, and the proportion in the growth rate of manufacturing investment may decline to about 23%-25%. From the specific representation of previous sectors, it is expected that there will be no systematic investment opportunities for radical general machinery and radical special machinery in the second half of 2013. It is worth noting that there is a problem of high valuation in the current local high growth machinery and equipment segment industry. We should wait for the stock price correction before choosing an opportunity to intervene

looking into the future, the new driving force of economic development may be determined in the new urbanization strategy, which will also have a great impact on China's industrial development in the medium and long term, which will be the key point of the investment strategy in the second half of the year. However, the elimination of excess capacity in radical industries will be inevitable, and the policy will not be soft at present. Future investment opportunities lie in industrial transformation, and many stocks have been continuously responded

analysts believe that the direction of the transformation of the machinery industry depends on whether the dial pointer refers to zero in the new urbanization, energy structure adjustment, industrial automation and environmental protection. This will promote the development of 6 industries, including railway (Metro) oil service and equipment, agricultural machinery, industrial automation, environmental protection and new coal chemical related equipment. Certain principles should be followed when considering the future investment direction and investment strategy. In the selection of specific targets, the following four aspects should be considered: first, market first mover, limited enterprises with various qualifications; Second, enterprises with certain technology storage or leading technology through various channels; Third, enterprises that have sufficient self owned funds, do not blindly rely on financial subsidies to obtain working capital and can obtain positive income; Fourth, enterprises with reasonable and forward-looking industrial layout

in addition, BASF exhibited a variety of product solutions and environmental protection equipment in the fine molecule industry that deserves attention. Among the environmental protection equipment, in the second half of the year, the waste power generation related equipment in the field of solid waste disposal and the corresponding demand equipment in desulfurization transformation are more promising. In terms of the actual market scale of waste incineration equipment, it is estimated that the market capacity of waste incineration equipment during the 12th Five Year Plan period will be about 61.4 billion yuan and 92.1 billion yuan. In the field of denitration equipment, the thermal power denitration equipment industry has a large market capacity in the next three years. A total of 529million kW of thermal power denitration equipment needs to be newly built and reconstructed, and the market capacity is about 68.59 billion yuan. It is aggressively estimated that the compound growth rate of the industry in the next three years will be about 40%, much higher than the growth rate of the thermal power industry. All these will open a rich imagination space for enterprises of environmental protection equipment. As the sub industries of machinery and equipment are closely related to urbanization and residents' consumption, the development of these sub industries is expected to exceed the overall level of the industry

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