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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GFD212A Mainboard of the I/O module
PPE091A101 Servo drive driver
XDD501A101 Hydraulic servo sub-module
PDD500A101 DCS/ distributed control system
GDC806A0101 Motor soft starter
PDD205A1121 Controller module
UNS0119A-P,V101 Isolation amplifier module
UDD406A Control system I/O module
GDD360C Control module
GVC736CE101 Control module
UFC911B110 Analog input module
UCD240A101 Analog input module
AM811F Distributed transfer module
EI803F ABB DCS control card
EI802F ABB Programmable controller
AM801F ABB Digital output unit
SD802F ABB Controller module
UFC760BE1142 ABB 3BHE004573R1142 Interface matching of inverter conversion device
PPC902CE101 ABB Bus control module
CI857K01 3BSE018144R1 ABB CPU Processor
UFC718AE101 HIEE300936R0101 ABB Communication module
EI813F ABB functional module
FI830F ABB DCS/Distributed Control System
1TGE120021R0110 ABB Drive module
751010R0815 ABB 32 point I/O module
LT8978bV1 HIEE320639R0001 ABB PLC control system
SA9923A-E HIEE450964R0001 ABB Control system module
3BHE014135R0011 UAD149/UAD149A00-0-11 Positioning control module
5SGY35L4510 Ethernet communication card
5SGY3545L0020 Power transformer
UNITROL 6000 Excitation system
UNITROL 1020 Central Processing Unit ABB
UNITROL 1010 ABB PLC/programmable control system
HVC-02B 3HNA024966-001 Central control module
3HNA023093-001 ABB Card module
3ASC25H203 ABB Main control panel
SLMG99 ABB hermomagnetic release
PP836 ABB Automatic controller
DSDX452 ABB Motion controller module
3HNA023093-001 ABB Wiring adapter
IOR810 ABB Analog input/output module
PFSK152 3BSE018877R2 Card module ABB
GDD471A001 Processor module
3HAC025562-001/06 Controller module
3BHE027632R0101 abb Waveform generator equipment
UCD208A101 ABB Multi function I/O device
UFC911B108 ABB Multifunctional data acquisition card
3BHE024747R0101 ABB communication module
UAD154A extension module
GCD207B101 Controller master unit
UDD406A abb System spare parts
XDD501A101 abb Frequency converter drive unit
PDD205A1121 System board card
PDD500A101 abb Control module card key
GVC736CE101 ABB Universal frequency converter
UNS0119A-P V101 abb Input control panel
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