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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OS9-GNI-C20L | Alcatel-Lucent | Network interface module
NAIO-03F | ABB | Simulate I/O scaling
MVI56-BAS | prosoft | Communication module
INNPM12 | ABB | Network Processor Module
INNIS21 | ABB | Secondary module of the network interface
IMMFP12 | ABB | Processor Module
IEPAS01 | ABB | AC System Power Supply
EHDB520 | ABB | Electromagnetic contactor
EHDB280 | ABB | Electromagnetic contactor
EH370-30-22 | ABB | Electromagnetic contactor
DSQC664 | ABB | DSQC 664 3HAC030923-001 Driving system
DSQC661 | ABB | DSQC 661 3HAC026253-001 Power module
DSQC651 | ABB| DSQC 651 I/O module
DSQC 604 | ABB | DSQC604 Power supply
3HAB8101-19 DSQC545A | ABB| DSQC 545A Module drives the system
DSQC 539 | ABB | DSQC539 Robot parts
DSMB-01C | ABB| Power supply panel
DSDX452 | ABB| Input/output module
DS3820PS3A | GE| Gas turbine clamp
DS3810MM | GE | card
DPW03 | ABB| DPW 03 Power module
DAI04 | ABB | DAI 04 Analog Input Module
CP450 T | ABB| Control Panel
3BSE020520R1| ABB | Communication Unit
BRC300 | ABB | P-HC-BRC-30000000 controller
BRC400 | ABB| P-HC-BRC-40000000 controller
IC695CPU315-BB | GE |Fanuc PACSystems RX3i processor
VRDM564/50LHA | BERGER LAHR| servomotor Spot of stock
ACS800-01-0003 | ABB | Frequency converter original
AC800F | ABB| AC 800Fcontroller Spot of stock
XO08R2 1SBP260109R1001 | ABB | Relay output expansion module
COM0011 2RAA005844A0007J | ABB| module Spot of stock
2500-C300 | CTI | Simatic® 505 control system Original
AIM0006 2RCA021397A0001P | ABB| AI/BI module Spot of stock
2500-C200 | CTI | Simatic® 505 control system Original
086371-502 | ABB| module Spot of stock
2500-C100 | CTI | Simatic® 505 control system Original
ECS3 086329-503 | ABB| Controller module Spot of stock
GJR5251300R0171 | ABB| 07 KT 93 Advant Controller 31 Spot of stock
2500-RBC 901E-2500-RBC | CTI | Remote host controller Original
GJR5251600R0202 | ABB | Analog input/output module Original
07KT93 GJR5251300R0171 | ABB| 07 KT 93 Advant Controller 31 Spot of stock
07AI91 GJR5251600R0202 | ABB | Analog input/output module Original
07AC91D | ABB| 07AC91-AD Analog input/output unit Spot of stock
3PS465.9 | B&R| Interface module Spot of stock
5SHY3545L0009 3BHB013085R0001| ABB | 5SHY 3545L0009 IGCT module Original
3IF060.6 | B&R| Interface module Spot of stock
3HAC044168-001 | ABB | Robot spare parts Original
3HAC031977-001/04 | ABB| Robot system Spot of stock
3HAC029818-001 DSQC663 | ABB | DSQC 663 drive unit Original
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