Investment in accelerating the improving of the industry

Author: Author    NewsSource: Site author    Hits:     Updated: 10/14/2009

In the fourth quarter, accelerated uplink boom industry with super engineering machinery and performance of heavy machinery varieties, including: XCMG, trinity, vanda and liugong (17.31 0.87%), and 0.15, push, and dragon mountain, 26.03 (net environment, too, 1.17%), according to the factory, 31.90 (0.05 - and - before closing 0.16% up), east force transmission (nc), and 15.54 treatment. Investment points:

Mechanical industry boom is expected to accelerate thaw. Macro economic policies, the government continued reverting to the exit, but we expected increase in fixed asset investment prospects and corresponding credit is still optimistic. From the investment, investment in the fourth quarter will accelerate: (1) the new projects to maintain high growth, predict the future investment increment is considerable; (2) real estate investment in the fourth quarter, or accelerated uplink, (3) government investment still bigger counters. From the perspective of government credit tightening credit project, project is for folk, glass house should not throw stones at significant re-warmer premise, to tighten credit. In short, the entity economy credit.
Engineering machinery boom in the fourth quarter will accelerate upward. For engineering machinery, we are optimistic for the future trend of half a year to the fourth quarter, new start again, the real estate industry is to promote sales will exceed expectations. In addition, export demand and mining, but despite a thaw is still in the bottom area, based on the macroscopic research conclusion, completed at the end before reverting to promote exports significant or mechanical engineering, business further upward market is expected to exceed 10% performance or above, valuation levels will rise to 25 times dynamic PE.

Heavy machinery needs improvement, warmed. (1) the main steel and low downstream of the coal industry in economy, has been used during the second agent under the background of the downstream industry, higher-loaded warmed toward recovery trend gradually. (2) enterprise level, product structure and order and smooth industry optimization.
Railway transportation equipment, profitability declines gradually to order or into malaises. Due to the railway construction, including the emu, accelerating gradually in order to enter locomotive products such as large-scale delivery time, income growth accelerated upward. But the product margin may face greater uncertainty, mor to suppress the product price may increase the degree of existence, may offset localization rate ascension brings positive results.

Machine needs not surged, accelerated upgrade crisis. (1) production sales rose by narrow, and inventory rate shows machine industry has been out of the bottom, but the downstream investment growth dropped, we think that the industry compared to a long time to demand surged. (2) for domestic large heavy stimulus of CNC milling machine, CNC yield increasing demand of ascension than both accelerated upgrade, crisis. (3) machine has yet to import and export, relatively, the reason with imported CNC machine for domestic demand by ordinary machine for small, exports fell cost-effective.