In April, the survey data of private equity institutions was released. The machinery and equipment industry ranked third in market popularity with 582 surveys and 61 stocks explored.
Under the multiple logics of manufacturing recovery, domestic substitution, stable growth, and energy innovation, the institution focuses on the five golden subdivisions of industrial automation, high-end engineering machinery, intelligent equipment, core robot parts, and energy storage equipment. Here, we will sort out the high-quality core listed companies on the track one by one.
1. Industrial Automation
Track Logic: Manufacturing transformation and upgrading, factory intelligent transformation, domestic substitution accelerated, demand for industrial control, servo, and frequency converters continues to pick up. It is the core track of high-end manufacturing and the key layout direction of the organization.
High-quality enterprises:
- Inovance Technology: The absolute leader in domestic industrial automation, covering servo, inverter, PLC, industrial control system, the layout of the entire industrial control industry chain, domestic substitution of core beneficiary targets, stable performance and strong growth.
- Eston: a leader in local industrial control + motion control, with years of experience in servo systems and automation equipment, a benchmark for private industrial control, and extremely flexible in import substitution.
- Xinjie Electric: high-quality targets for small PLC and industrial control automation. It is deeply engaged in the intelligent transformation of small and medium-sized manufacturing plants and has outstanding cost performance in segmented tracks.
2. High-end construction machinery
Track logic: Infrastructure growth is stable, overseas exports are booming, and the equipment update cycle is coming. Construction machinery has escaped the trough of the cycle, high-end and overseas sales have become new increments, and there is ample room for repairing low valuations.
High-quality enterprises:
- Sany Heavy Industry: a global leader in construction machinery, with the largest domestic market share of excavators and cranes, high-end + overseas globalization, and an absolute benchmark in the industry.
- XCMG Machinery: A leader in high-end hoisting machinery and engineering equipment, a core target of major power equipment, overseas export business continues to increase, and valuations are at historically low levels.
- Zoomlion: The dual main lines of construction machinery + agricultural machinery, aerial work equipment and cranes have outstanding advantages, and diversification opens up room for growth.
3. Intelligent equipment
Track logic: The new energy, semiconductor, lithium battery, and photovoltaic industry chains are expanding, the demand for precision intelligent manufacturing equipment is exploding, the domestic substitution of high-end equipment is accelerating, and growth is certain.
High-quality enterprises:
- Han’s Laser: a leader in high-end intelligent equipment, with full coverage of laser processing and precision manufacturing equipment, spanning new energy, semiconductors, and consumer electronics.
- Top Group: a leader in high-end precision intelligent manufacturing equipment + automotive intelligent equipment, tied to leading car companies, and its intelligent manufacturing business continues to grow rapidly.
- Yinghe Technology: A leader in intelligent lithium battery production equipment and a core supplier of complete line equipment for power batteries, it has deeply benefited from the recovery of the energy storage + lithium battery industry.
4. Core components of robots
Track logic: The humanoid robot industry is accelerating. Reducers, servo motors, controllers, and sensors are the “heart” of robots. There is huge room for domestic substitution, and the track growth ceiling is extremely high.
High-quality enterprises:
- Green Harmonic: The absolute leader in domestic harmonic reducers, the benchmark for core robot components, and the core benefit target for humanoid robots.
- Double-ring transmission: The leader in RV reducers, deeply engaged in precision transmission parts, benefiting from both industrial robots and humanoid robots.
- Jiangsu Leili: A high-quality enterprise in servo motors and precision transmission components, a core target of core robot parts, and the organization focuses on research.
5. Energy storage equipment
Track logic: the construction of new power systems, the explosion of wind and solar energy storage installations, the surge in peak demand for power grids, energy storage equipment has entered a high boom cycle, and the strongest growth segment is in mechanical equipment.
High-quality companies sorted out:
- Sungrow: the global leader in energy storage converters + energy storage systems, the leader in the entire energy storage equipment industry chain, and orders at home and abroad continue to be full.
- Costar: a high-quality leader in energy storage batteries, energy storage cabinets, and UPS equipment, with an in-depth layout of optical and storage integration, and its performance continues to grow rapidly.
- Shenghong Co., Ltd.: A leader in industrial and commercial energy storage and power quality equipment, a highly flexible target in the segmented energy storage track, benefiting from the explosion of distributed energy storage.
This private equity investment is heavily investigating the machinery and equipment sector, and is optimistic about the four major logics of cyclical recovery + domestic substitution + high-end manufacturing upgrades + new energy growth.
Industrial automation looks at a stable bottoming, high-end construction machinery looks at low-level cyclical recovery, smart equipment looks at the track for high growth, robot parts and components look at the long-term theme elasticity, and energy storage equipment looks at the boom. The five major segments cover all layout needs of solid, low-level, and high-elasticity, and are the main line of both offense and defense in the current volatile market.
Risk warning: This article only publicly summarizes the research directions of institutions and high-quality listed companies in the industry. It does not constitute any investment advice on buying, selling, adding positions, or holding positions. The stock market is subject to risks such as market fluctuations, industry prosperity less than expected, policy changes, performance decline, etc. Please maintain rational and independent judgment when investing. Be cautious when investing in the market with risks.
Interaction: Among the five major machinery and equipment segments, which market outlook are you more optimistic about?
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