Description
hardware flow control. It is an ideal choice in the field of industrial automation.
The growth rate of the industry”s overall net profit attributable to parent companies continues to decline, and the phenomenon of increasing industry revenue without
increasing profits is obvious. In 2018, the industry as a whole achieved a net profit attributable to the parent company of 3.250 billion yuan, with a year-on-year growth
rate of -26.42%. Although the overall revenue growth rate was positive in 2018, in the context of the fierce price war in the industry, increasing revenue
does not increase profits. The phenomenon is very significant. In 2019Q1-3, the industry as a whole achieved net profit attributable to the parent company of 1.888
billion yuan, a year-on-year growth rate of -43.63%, and the growth rate of net profit attributable to the parent company continued to decline. Judging from the net profit
attributable to the
parent company of the industry in a single quarter, dragged down by the poor performance of New Star, the net profit attributable to the parent company of the industry
in the single quarter of 2018 Q4 suffered a loss of 98 million yuan. The net profit performance of the industry attributable to the parent company has continued to be
sluggish since 2019. . It is expected that the decline in the industry”s net profit attributable to the parent company for the whole year will narrow compared with the first three quarters, and the
overall profitability will hit a historical bottom.
The industry”s overall gross profit margin and net profit margin have continued to decline since 2017, and changes in gross profit margin and net profit margin in a
single quarter are negatively correlated or related to the pace of corporate expense control. In 2019Q1-3, the overall gross profit margin of the industry was 28.68%,
and the net profit margin was 5.54%. It has continued to decline since reaching a historical high in 2017,
and the decline curve has gradually flattened. It is expected that the overall gross profit margin decline is expected to stabilize in 2020, and the net profit margin may be
Ushering in upward repair. Judging from the changes in the industry”s overall gross profit margin and net profit margin in a single quarter, the two show a certain negative
correlation. This may be due to the company”s reduction in gross profit margin due to fierce price wars or falling sales volume caused by the industry downturn. It is related to its
own period expenses
. On the contrary, when the gross profit margin rebounds, the company”s period expenses will increase to a certain extent.
The industry”s overall operating cash flow has significant seasonal characteristics, and most sales collections are concentrated in Q4, which leads to an improvement
in overall cash flow. In 2019Q1-3, the industry”s overall operating net cash flow was 580 million yuan, accounting for 1.52% of operating income. There is a big gap between
this value and the whole year in previous years. Through the analysis of single-quarter data, it is found that the industry generally has negative operating net cash flow in the
first quarter, and there will be a substantial inflow of operating net cash
flow in the fourth quarter, thus driving the overall industry. Cash flow improved. China Merchants Bank Research Institute believes that this is mainly related to the industry”s
payment methods. Most companies in the industry will advance capital investment after receiving orders at the beginning of the year, resulting in greater cash flow outflow. As
the project settlement is gradually accepted and completed at the end of the year, payment collections are concentrated in the year. Tail release.
5. A drop in short-term prosperity will not change the long-term growth trend
In 2018, global industrial robot sales reached 422,000 units, a year-on-year increase of 11.05%. IFR predicts that the sales growth rate in 2019 will reach -0.24%. In
2018, the total sales of industrial robots in my country was approximately 154,000 units, accounting for 36.49% of global sales. It is still the largest industrial robot market in the world.
In 2018, the sales of industrial robots in my country reached US$5.4 billion, an increase of 21% over 2017. The decrease in sales volume but the increase in sales
indicate that the average value of each industrial robot used in my country is increasing, and the products are gradually moving from low-end to mid-to-high-end. . From the
perspective of industrial robot density, Singapore reached 831 units/ten thousand people in 2018, the highest in the world, followed by South Korea
(774 units) and Germany (338 units). my country”s industrial robot density was 140 units/ten thousand people, higher than the world”s Average for each region (99 units).
Compared with Singapore, South Korea, Germany and other developed countries in manufacturing automation, my country”s industrial robot sales still have a lot of
room for improvement, and the long-term growth trend of the industry is clear. Through the overall third quarter report data of listed companies, we found that the overall industry
revenue in 2019Q1-3 declined slightly year-on-year, and the negative growth in single-quarter revenue narrowed significantly; the growth rate of the industry’s net profit attributable to
parent companies continued to decline, and the industry’s increase in revenue did not increase profits. The industry as a whole Operating
cash flow has significant seasonal characteristics, and most
sales collections are concentrated in Q4, which leads to an improvement in overall cash flow. Based on the previous macro data, it is believed that the fundamentals
of the industry have hit the bottom, and the industry has structural differentiation characteristics. Looking forward to 2020, the negative impact of declining automobile sales on the
demand for industrial robots will gradually weaken. The 3C field may contribute to the main increase in demand for industrial robots, and an industry turning point may be coming.
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5SHX1445H0001 Servo driver
5SHX1060H0003 Driving circuit
5SHX06F6004
5KCP39PG motor
5AP1130.156C-000 touch screen
4PP220.0571-R5 touch screen
4P3040 Touch screen
3HNA025019-001
3HNA015149-001 Electric machine
3HAC040658-001Electric machine
3HAC026272-001 module
3HAC025917-001 Digital input/output module
3HAC025562-00106 Capacitance unit
3HAC025562-001 Capacitance unit
3HAC025466-001 fan
3HAC025338-006 Servo drive unit
3HAC17484-8108 Rotating ac motor
3HAC17326-102 Motor M26 Type B
3HAC16831-1 LITHIUM 34X102X63
3BHE039203R0101-GVC736CE101
3BHB003688R0101
3BE101 Digital input/output module
3BDH000741R1 Temperature input
3AUA0000040000 Drive maintenance tool
3ASC25H204 Power module
3AFE61320946P0001 Central processing
2RCA007120D2RCA007128A0001C relay
2RCA006836A0001E Feeder protection
2RCA006835A0002E2RCA021946B Output adapter module
2RAA005904A0001 Operating interface
2N3A8204-B transistor
2MLL-EFMTB-CC Ethernet
2DS100.60-1 Automated production line
2CP200.60-1 Industrial PC
2CCS862001R0105 High performance circuit breaker
1X00797H01L Power module.
1X00781H01L Decentralized control system
1X00416H01 Power module
1VCF752000 Feeder terminal
1TGE120028R0010 System interface
1TGE120021R0010 Configuration switch
1TGE120011R1001 Driving power supply
1SVR040000R1700 Universal signal converter
1SVR011718R2500
1SNA684252R0200 Ethernet converter
1SAR700012R0005 Pluggable interface relay
Analog input/output module 1SAP250100R0001
Terminal unit 1SAJ924007R0001
1MRS050729 Ethernet gateway
1C31124G01 module
1C31116G04 Voltage band temperature sensor
0-60028-2 Driver interface module
0-60023-5 Ac power module
0-60007-2 Drive power module
0-57510 Variable speed driver
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