Machine tools are the foundation of a country’s equipment manufacturing and are known as the mother of manufacturing. Its technical level represents the comprehensive competitiveness of a country. High-end machine tools are a country’s strategic resource. Nowadays, high-end cnc machine tools have been the focus of investment by the National Manufacturing Industry Transformation and Upgrade Fund. The continuous upgrading of the market demand structure has also forced machine tool companies to accelerate the pace of transformation and upgrading and get rid of the “big but not strong” of China’s machine tool industry.

Manufacturing Industry: 2021 May Be The Starting Point Of An Update Cycle

In the second half of last month, the National Manufacturing Fund planned to increase the capital of Shenzhen Genesis, a subsidiary of Genesis Holdings, with a monetary capital of 500 million yuan. It will hold 8.73% of its shares and become the third largest shareholder of Shenzhen Genesis. The key word of the National Manufacturing Fund’s capital increase in Shenzhen Genesis is “machine tools”, which means that it has incorporated basic manufacturing equipment represented by machine tools into its investment horizon. From the perspective of its usual “investment in large projects” and “industrial chain layout”, the National Manufacturing Fund is expected to promote coordinated investment in the upstream and downstream of the machine tool industry chain, thereby driving the capital market to pay attention to the field of machine tools, attracting continuous inflows of social capital, and promoting machine tools The industry accelerates development.

In the past ten years, the domestic machine tool industry has continued to be in a downward cycle. Since the epidemic has improved, the industry has shown an accelerated recovery trend. As the downstream manufacturing industry continues to recover, the machine tool industry is expected to enter an upward cycle. According to the data of the Prospective Industry Research Institute, the current domestic machine tool inventory is about 8 million, and more than 60% of the traditional machine tools with a service age of more than 10 years, that is, more than 4.5 million machine tools are in the scrapping stage, which means that there is a huge domestic machine tool replacement. Demand, according to estimates, 2021 may be the starting point of a round of renewal cycle.

Leading private machine tool companies are expected to benefit fully. As the leading private machine tool companies, Haitian Precision and Guosheng Zhike have also fully proved this point in their performance:

01. Haitian Precision: Rapid Revenue Growth And Profitability Steadily Improved

On October 29, 2020, the company released its three-quarter report. In the first three quarters, it achieved operating income of 1.106 billion yuan, a year-on-year increase of 34.54%, and a net profit of 90 million yuan attributable to the parent, a year-on-year increase of 73.68%.

Haitian Precision’s product positioning is high-end CNC machine tools with high added value. It has made breakthroughs in the field of CNC gantry machining centers and has continuously improved its product structure. It is a leading domestic research and development and production company for CNC machine tools. It is expected to benefit from the domestic substitution of high-end machine tools in the future. .

02. Guosheng Zhike: The Third-Quarter Performance Exceeded Expectations And The Net Interest Rate Increased Significantly

In the first three quarters of 2020, revenue was 504 million yuan, a year-on-year increase of 1.53%, and net profit attributable to the parent was 81 million yuan, a year-on-year increase of 33.40%. Among them, revenue in the third quarter was 176 million yuan, a year-on-year increase of 9.78%. Parent net profit was 28 million yuan, a year-on-year increase of 42.30%, exceeding market expectations.

The revenue of CNC machine tools continued to grow, the net profit margin increased significantly, and the cost control was significant. The industry boom continues, and the recovery in the automotive sector is expected to boost the industry’s continued upward trend. Automobiles and molds are the main downstream application areas of its machine tool products, which are expected to fully benefit from the recovery of the automotive industry.

03.Heidemann Officially Listed

Heideman was officially listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange in September last year. The company issued a total of 13.5 million shares at an issue price of 33.13 yuan per share, with a total fund-raising of about 447 million yuan, which is mainly used for the construction of high-end CNC machine tool R&D centers, the expansion of high-end CNC machine tools, and supplementary liquidity projects.

In addition, according to Heideman’s disclosure, from January 1 to December 8, 2020, a total of about 23.14 million yuan was received from government subsidies, of which the government subsidies related to income totaled about 6.41 million yuan, and government subsidies related to assets The total amount is about 16.73 million yuan.

The Machine Tool Industry Has Entered Period Of Rapid Growth

In recent years, China’s CNC machine tool industry has seen obvious structural imbalances, the effective demand for low-end CNC machine tools in the market is insufficient, and there has been overcapacity in this field. With the increasing demand for high-end CNC machine tools, the supply side has been unable to meet the demand, and the supply of high-end CNC machine tools is insufficient.

With the transformation of China’s economy and the upgrading of industrial structure, the demand for high-end CNC machine tools in China will continue to expand in the future. At present, China is in a critical period of accelerating industrial transformation and upgrading. Under the dual power of domestic demand and the upgrading of intelligent equipment technology, China’s high-end CNC machine tools will enter a period of rapid growth.

From the perspective of industrial clusters, China has gradually formed a relatively complete overall layout. Among them, the Yangtze River Delta region focuses on the differentiated development of “specialization, specialization”, and local enterprises have long focused on and deeply cultivated a certain link in the industrial chain or a certain type of product; the Guangdong-Hong Kong-Macao Greater Bay Area focuses on the coordinated development of the entire industrial chain, with high market sensitivity , Close to user needs, and gradually become an industrial cluster of special machine tools, numerical control systems, and functional components in the 3C field. The capital of small and medium-sized machine tools”.

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