In the second half of the year, the investment strategy of the machinery industry will focus on four themes: the industries that focus on the improvement of the industrial prosperity; the listed companies that are concerned about the continued improvement of international competitiveness; the import substitution trends of domestic equipment; and the revaluation of high-quality companies. Most of the sub-sectors of machinery are in the growth phase of the industry life cycle. Under the general trend of the transfer of manufacturing industries from the world to China, the prosperity of the machine tool industry, shipbuilding industry, forklift industry and international competitiveness will continue to increase. The level of valuation of companies that are likely to increase in terms of growth and industry concentration will also increase.
In 2005, China’s acceptance of new ship orders increased from 13% in 2002 to 18% in the world and increased to 26% in the first quarter of this year. There is a clear trend for the transfer of world shipbuilding manufacturing to China. The rise in ship prices and host prices can completely absorb the impact of rising costs on gross profit margin. We forecast that the profitability of shipbuilding enterprises will reach a cyclical high point from 2006 to 2007. Concerned about the investment opportunities brought about by the CSSC Group's assets integration of its listed companies.
The development of machine tool industry is the foundation for the revitalization of equipment manufacturing industry. Large-scale precision high-speed CNC equipment is the key development industry for equipment manufacturing during the “Eleventh Five-Year Plan†period in China. By the end of the “Eleventh Five-Year Planâ€, domestic CNC machine tools accounted for the proportion of domestic demand market. The current 30% increase to more than 50%, China is the world's largest consumer of machine tools, the import substitution effect of domestic CNC machine tools will appear year after year.
The first two years of the “Eleventh Five-Year Plan†period are the peak period for the construction of key national projects, and the demand for construction machinery will maintain steady growth. In the second half of the year, due to factors such as seasonal factors and macro-control, the sales growth of construction machinery will slow down. The increase in steel prices will stabilize the high-profit growth rate in the first quarter. It is expected that the income and profits of the construction machinery industry will maintain a steady growth from 2006 to 2008, with an annual growth rate of about 18%. The boom of port machinery and container machinery will continue and the investment rating of the industry is recommended.
In 2005, China’s acceptance of new ship orders increased from 13% in 2002 to 18% in the world and increased to 26% in the first quarter of this year. There is a clear trend for the transfer of world shipbuilding manufacturing to China. The rise in ship prices and host prices can completely absorb the impact of rising costs on gross profit margin. We forecast that the profitability of shipbuilding enterprises will reach a cyclical high point from 2006 to 2007. Concerned about the investment opportunities brought about by the CSSC Group's assets integration of its listed companies.
The development of machine tool industry is the foundation for the revitalization of equipment manufacturing industry. Large-scale precision high-speed CNC equipment is the key development industry for equipment manufacturing during the “Eleventh Five-Year Plan†period in China. By the end of the “Eleventh Five-Year Planâ€, domestic CNC machine tools accounted for the proportion of domestic demand market. The current 30% increase to more than 50%, China is the world's largest consumer of machine tools, the import substitution effect of domestic CNC machine tools will appear year after year.
The first two years of the “Eleventh Five-Year Plan†period are the peak period for the construction of key national projects, and the demand for construction machinery will maintain steady growth. In the second half of the year, due to factors such as seasonal factors and macro-control, the sales growth of construction machinery will slow down. The increase in steel prices will stabilize the high-profit growth rate in the first quarter. It is expected that the income and profits of the construction machinery industry will maintain a steady growth from 2006 to 2008, with an annual growth rate of about 18%. The boom of port machinery and container machinery will continue and the investment rating of the industry is recommended.
Metal forging is the process in which metals are formed and shaped using compressive forces. The forces are delivered using hammering, pressing, or rolling. There are a number of forging processes – cold forging, warm forging, and hot forging – which are classified by the temperature of the metal being worked with. Overall, the forging process results in a strong and durable product that is well-suited to heavy duty applications where toughness, strength, and resistance to damage are essential.
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