Brief Analysis of Domestic Instrumentation Leading Enterprises in 2016

Reading: Although China's economy is down, but compared to the global, "China's speed" is still global attention, imported equipment companies regard it as a fertile soil, domestic equipment companies as the engine. The so-called time-honored heroes, the rapid development of the Chinese market in recent years has greatly stimulated the rise of domestic equipment companies, especially domestic listed instrument companies, under the dual role of capital operation and policy dividends, creating a market value of over 10 billion Domestic instrument manufacturers "is no longer a dream." According to the total market capitalization of various domestic listed companies on September 13, 2016, instrument information network editors have produced the “Top 10 Market Value of Domestic Listed Instrument Companies”.

In summary, it can be seen that except for the slight decline in the value of Xuedilong, the market value of the other nine companies has increased significantly. It is particularly worth mentioning that Concentration Technology has increased its market value by more than 3 billion yuan in addition to its market value of over 10 billion within half a year, and thus it has consistently ranked first in this ranking. In addition, Bohui Innovation also has an increase of over RMB 2 billion in market value within half a year, which surpasses the top three positions of Polytechnic Branch.

Policy dividend continues to release environmental protection stocks

In the past four or five years, environmental pollution incidents such as the atmosphere, soil, and water continued to occur. The government paid great attention to the environmental protection industry. With the introduction of policies such as "10 Atmospheres, 10 Water Rules, and 10 Soil Measures," environmental monitoring and testing The phenomenon of blowout in the instrument market is “ready to come out”, and related instrument companies have generally received high attention from the capital market. Environmental protection stocks such as Concentration Technology, Science and Engineering Central Branch, Xianhe Environmental Protection, and Tianrui Instruments have been warming up.

Continuing M&A integration attracts a greater amount of capital involvement

M&A integration is the only way for a company to grow and grow. With the help of capital, listed companies such as Concentration Technology, Xuedilong, Tianrui Instrument, Bohui Innovation, and Xianhe Environmental Protection successively implemented multiple mergers and acquisitions transactions in the past two years. The target of acquisition is toward internationalization. Even after the acquisition of Shanghai Xinyi by Haineng Instrument, which was listed on the New Third Board, in July this year, it was in a big way to implement indirect shareholding in the German GC-IMS manufacturer GAS. A series of mergers and acquisitions integration, while stimulating the rising market value of domestic equipment companies, is also more conducive to attracting more capital inflows.

The layout of industrial chain in full swing has become a means of operation

At present, due to the economic downturn in China, traditional industries such as petrochemicals, coal, and steel are in a downturn. In order to seek new profitability and profit growth, more and more domestic instrument companies are implementing industrial layout or cross-border development.

For example, Concentration Technologies has continuously acquired Shenzhen Dongshen Electronics, Beijing Xindili, and Three Gorges Environmental Protection, and strategically completed the water treatment project and other business layouts; while Xianhe Environmental acquired the United States Sunset in 2015, accelerating the internationalization of the environmental protection industry; It is also the acquisition of two major international brands—KORE, a mass spectrometer manufacturer in the United Kingdom, and ORTHODYNE, a detector and chromatographer in Belgium, which have strengthened the position of the industrial process analysis market.

Affected by the downturn in the coal industry, Kaiyuan Instruments has acquired two major education brand companies across borders after a suspension of nearly four months, breaking the "ceiling" of performance growth. Coincidentally, Tianrui Instruments acquired environmental protection with its 135 million acquisitions in 2015, freed itself from the identity of a single instrument and equipment supplier, and quickly cut into environmental governance. In the same year, Tianrui Instrument acquired 12.8% of China Kangshangde, laying the foundation for the company's products entering the field of medical testing.


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