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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8800-1001 WOODWARD digital speed switch
REF611 HCBACB2AA1XE feeder protection and measurement and control device
MPL-B430P-HJ74AA servo motor
1756-PB72 A-B ControlLogix Power Supply
1734-AENTR I/O Dual Ethernet communication module
1769-L24ER-QB1B CompactLogix Encapsulates the controller
TZIDC-V18345-1010521001 Electropneumatic positioner
A5E31250567 ABB rectifier power module
AAI143-S50 YOKOGAWA analog input module
3500/50M-01-00 tachometer module
DCF803-0050 Excitation board Power board
350033-SIL2-01-CN 16-channel relay module
350025-SIL2-01-01-CN Enhanced Keyphasor module
V18311H-112110100 signal converter
M700-04400150A 7.5KW 3PH driver
DST1404P servo drive
SP2403 400 volt AC panel mounting driver
6ES7331-7NF10-0AB0 Indicates the analog input module
2094-BM02-S Integrated shaft module A-B
MAX-4/11/03/128/99/1/1/00 servo drive ELAU
FPBA-01 PROFIBUS DP adapter module
TREXLHPKLWS3S Trex device communicator
1444-DYN04-01RA Intelligent I/O module
ZCU-12 ABB demonstration unit
9200-06-05-10-00 Speed sensor
F3CU04-0S Yokogawa temperature control and PID module
NFAI143-H50 Yokogawa analog input module
NFBU200-S05 Yokogawa Analog input module
SAI143-S53 Yokogawa analog input module
IC694PWR331 GE power module
1326AB-B730E-M2L AC servo motor A-B
SPASI23 ABB analog input module
SGDH-15DE Yaskawa servo amplifier
PM564-TP-ETH ABB logical controller
1756-PB75 ControlLogix Power module
IC694ACC310 empty slot filling module DCS analog
IC695ALG708 Analog output module
IC695CPE305 RX3i PACSystems CPU
IC695ALG616 Indicates the analog input module
IC695PBM300 Main PROFIBUS module
IC695ACC400 RX3i Series Power Pack
IC695PSD140 Power module GE
IC695CBL001 GE cable
IC694TBB132 GE expansion box terminal panel
IC695LRE001 GE Serial bus transmitter module
IC755CSS12CDB GE 12.36-inch QuickPanel operation screen
CIMR-AB4A0038FBA YASKAWA Inverter
CC-TAID11 HONEYWELL differential analog input IOTA
5069-L380ERM CompactLogix controller
TB840A 3BSE037760R1 Modulebus
SA811F SA801F AC800F Power module ABB
531X307LTBAJG1 LAN terminal board 531X series
TY720 YOKOGAWA Digital Multimeter
CA500 YOKOGAWA high performance multifunctional calibrator
WT310 YOKOGAWA Digital Power meter
VT-VSPD-1-2X/V0/0-0-1 digital amplifier REXROTH
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