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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5SHY6545L0001 AC10272001R0101 5SXE10-0181 ABB IGCT module
5SHY5055L0002 3BHE019719R0101 GVC736BE101 ABB IGCT module
5SHY5045L0020 5SXE10-0181 AC10272001R0101 ABB IGCT module
PDD200A101 3BHE019633R0101 ABB Processor module
XXD129A01 3BHE012436R0001 PEC800-BP ABB Programmable control card
PCD231B101 3BHE025541R0101 ABB Static excitation system
PCD230A 3BHE022291R0101 ABB Static excitation system
NU8976A99 HIER466665R0099 HIEE320693R0001 ABB Analog Input Module
NTCF22 ABB Termination Unit
NF93A-2 HESG440280R2 HESG323662R1 ABB control system
MC91 HESG440588R4 HESG112714B ABB Output module
LXN1604-6 3BHL000986P7000 ABB DIN rail power supply
LT8978b V1 HIEE320639R0001 ABB power-supply module
LDGRB-01 3BSE013177R1 ABB I/O Module
KVC758A124 3BHE021951R1024 ABB module
KUC755AE105 3BHB005243R0105 ABB Drive control unit
KUC720AE01 3BHB003431R0001 ABB Power supply drive board
IT94-3 HESG440310R2 HESG112699B ABB Controller module
IOR810 P-HB-IOR-80010000 ABB S800 I/O Gateway Module
INIIT13 ABB Communication_Module
IMMFP03 ABB Multifunction Processor Module
ICST08A9 FPR3335901R001 ABB Analog Remote Unit 24 VDC 200mA
CSA463AE HIEE400103R0001 ABB Programmable communication unit
HIEE300698R0001 KUC321AE ABB The inverter
GDD471A001 2UBA002322R0001 ABB Board
GDB021BE05 HIEE300766R0005 ABB Board
FM9925a-E HIEE451116R0001 ABB Board
SPAD346C3 ABB Stabilized Differential Relay
IOR810 P-HB-IOR-80010000 ABB S800 I/O Gateway Module
INIIT13 ABB Communication_Module
IMMFP03 ABB Multifunction Processor Module
ICST08A9 FPR3335901R001 ABB Analog Remote Unit 24 VDC 200mA
CSA463AE HIEE400103R0001 ABB Programmable communication unit
HIEE300698R0001 KUC321AE ABB The inverter
GDD471A001 2UBA002322R0001 ABB Board
GDB021BE05 HIEE300766R0005 ABB Board
FM9925a-E HIEE451116R0001 ABB Board
SPAD346C3 ABB Stabilized Differential Relay
SD821 3BSC610037R1 ABB Power Supply Device
SC510 3BSE003832R1 ABB Submodule Carrier without CPU
SC560 3BSE008105R1 ABB Submodule Carrier incl
SC520M 3BSE016237R1 ABB Submodule Carrier incl
SA9923a-E HIEE450964R0001 ABB power-supply module
REF542PLUS ABB Relay protection device
PP836 3BSE042237R1 ABB Operator Panel
PP875 3BSE092977R1 ABB Operator Panel
PP865 3BSE042236R1 ABB Operator Panel
PP836A 3BSE042237R2 ABB Operator Panel
PM891K02 3BSE053242R1 ABB Processor Unit
PM891K01 3BSE053241R1 ABB Processor Unit
AC800M 3BSE053240R1 PM891 ABB Processor Unit
PM866K01 3BSE050198R1 ABB Processor Unit
PM866A-2 3BSE081230R1 ABB control module
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