Description
hardware flow control. It is an ideal choice in the field of industrial automation.
After experiencing a sharp decline in December 2017, industrial capacity utilization began to show signs of stabilizing. According to empirical data, the industrial
capacity utilization rate is slightly ahead of the profit performance of industrial enterprises. At the same time, the profitability of industrial enterprises is probably
1-2 quarters ahead of the capital expenditure of industrial enterprises. Therefore, the utilization rate of industrial capacity is an important leading indicator that needs
to be paid attention to. It is important to a certain extent. To a certain extent, it indicates the future profit and capital expenditure trends of industrial enterprises.
In 2019Q3, the industrial capacity utilization rate reached 76.4%, which was the same as in 2019Q2. The gradual stabilization of the industrial capacity utilization
rate indicates that the profitability of industrial enterprises is expected to stabilize in the future, and industrial enterprises may usher in a new round of capital expenditure cycle in 2020.
Fixed asset investment in the manufacturing industry continues to bottom out, and the growth rate of fixed asset investment in the 3C field in the downstream
applications of industrial robots continues to pick up. In November 2019, manufacturing fixed asset investment increased by 2.5% year-on-year, and the growth
rate dropped 0.1 percentage points from the previous value. Manufacturing investment growth is still sluggish. Judging from the growth rate
of fixed asset investment in the three major fields of automobiles, 3C, and electrical machinery, which account for the highest proportion of downstream
applications of industrial robots, the cumulative year-on-year growth rates of investment in the automobile and electrical machinery manufacturing industries in
November were -0.4% and -6.8%. Both are in the bottoming
stage; the cumulative year-on-year growth rate of 3C manufacturing investment was 13.8%, an increase of 0.2 percentage points from the previous value,
and the 3C investment growth rate is on a continuous upward path.
The cumulative year-on-year decline in automobile sales has gradually narrowed, and the cumulative year-on-year decline in smartphone shipments has
stabilized. From January to November 2019, the cumulative sales of automobiles in my country were 23.11 million units, with a cumulative year-on-year growth
rate of -9.10%. The decline narrowed 0.6 percentage points compared with the previous ten months. The cumulative year-on-year decline in automobile sales has
narrowed for 6 consecutive months. It is expected that The cumulative year-on-year growth rate for the whole year was
around -8.0%. From January to November 2019, my country”s cumulative shipments of smartphones were 343 million units, with a cumulative year-on-year
growth rate of -3.8%. The decline in smartphone shipments has stabilized, with a significant improvement compared with the same period last year.
It is expected that cumulative shipments throughout the year will be year-on-year. The growth rate is around -3.5%. We believe that the negative growth in automobile
sales may continue to narrow next year, and the cumulative year-on-year growth rate of smartphone shipments is expected to turn positive. There is strong certainty
that the incremental automation demand in these two
downstream application areas of industrial robots will improve.
A few days ago, Yaskawa Electric President Hiroshi Ogasawara pointed out in an interview with Japanese media that China”s population has reached about
1.4 billion, and domestic demand will definitely grow no matter how the Sino-US trade friction develops. If investment recovers, it will be a short-term benefit to related
companies in corresponding fields.
Perspective of listed companies: The industry has hit the bottom, and the structural characteristics are significant
According to the China Merchants Bank Research Institute, 30 listed industrial robot companies were used as samples to calculate the overall
operating income, net profit attributable to parent companies, gross profit margin, net profit margin and operating net cash flow and other indicators
for the first three quarters of 2019, and found that the overall industry profitability The level has entered a downward channel since Q4 2018, and is
currently in the accelerating bottoming stage, which is cross-confirmed with macro data tracking. At the same time, its research found that for companies
with large customers in different downstream sub-fields
within the industry, their profit levels are significantly differentiated.
In 2019Q1-3, the overall industry revenue declined slightly year-on-year, and the negative growth in single-quarter revenue narrowed
significantly. The industry”s overall operating income reached a historical high of 54.298 billion yuan in 2018, but the operating income growth
rate fell from 33.53% in 2017 to 17.57%; in 2019 Q1-3, the industry”s overall operating income was 38.080 billion yuan, year-on-year It fell slightly
by 0.71%. On a quarterly basis, the single-quarter operating income growth center showed a downward trend, but the single-quarter operating income growth rate in 2019Q3
showed signs of narrowing year-on-year decline. Based on the return of industrial robot production in the past two months and the narrowing
of year-on-year declines in sales of automobiles and smartphones in downstream applications, China Merchants Bank Research Institute infers
that the annual industry revenue growth rate may reach single-digit growth.
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FSCA-01 RS-485 Adapter module
701PGNKF Intelligent power module
1606-XLB240E Power module
IC693BEM330 FIP remote I/O scanner
F3YD64-1P YOKOGAWA Transistor output module
F3YD32-1P YOKOGAWA Transistor output module
F3YP12-0V YOKOGAWA Transistor output module
1734-CTM Input/output common terminal module
20P41AD330RA0NNN Three-phase AC driver
1769-SDN DeviceNet Communication module
2080-LC50-24AWB Programmable Logic controller
2080-LC50-24QBB Compact controller
20F1ANC205JN0NNNNN Adjustable frequency AC driver
25A-D043N114 PowerFlex 523 Series compact low voltage driver
22C-D038A103 AC Powerflex 400 drive
BCU-12 Control unit BCU12
FEN-31 68978955 HTL encoder interface
1769-OF4 Analog output module
MPS022 13100-203 Power module
1784-PKTX/A Network interface card
1FK2104-5AF11-1MA0 servo motor
3G3MX2-A4040-ZV1 multifunctional mini frequency converter
2711-K6C5 PanelView Standard Operator Terminal
1769-IF16C Compact I/O mode
Drive ACS880-01-109A-3 ABB
5069-L320ERS2 compact GuardLogix controller
1783-US16T Ethernet unmanaged switch
1783-BMS10CGL Managed Ethernet switch
2198-D020-ERS3 Kinetix 5700 two-axis servo drive
5069-OBV8S Security output module
AL81G ACQUISITIONLOGIC single-channel Analog input board
05701-A-0281 Single channel control card 05701-A-0281
CG6565/64-2L/8TE NMS Media processing board
D0C-16C SAMSUNG Digital Output and counting board
05701-B-0376 HONEYWELL control card module
05701-A-0303 HONEYWELL control card module
1756-OW16I ControlLogix discrete output module
1756-IRT8I ControlLogix Analog input module
1756-EN2TP Allen-Bradley Communication module
1756-OF8H Allen-Bradley analog output module
1756-IF16H Allen-Bradley analog input module
REF615 HBFDACADABC1BNN21G feeder protection and measurement and control device
Pxi-2510 NI PXI signals are inserted into the switch module
AKM34H-ANC2R-00 KOLLMORGEN brushless servo motor
AKM230-ANCNR-00 KOLLMORGEN servo motor
AKM32H-ANC2R-00 KOLLMORGEN servo motor
MPL-B680H-MJ74AA low inertia servo motor
3500/15-02-02-00 Power module
1794-IB32 Flex I/O DC input module
CX5130-0125 Embedded computer processor
MHD115C-035-PG0-AA MHD synchronous motor
PCIe-6734 NI Multifunctional I/ O device
140ERT85410 Multifunctional input module
SPM-D2-101010B/YB 8440-2167 Synchronizer
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