As a strategic industry, machine tools face unprecedented opportunities for development. We expect that the average growth rate of the machine tool industry will be over 15% in the next five years, and the growth rate of CNC machine tools will reach 30%.
Equipment manufacturing industry faces revitalization opportunities In 999, the bombing of the Chinese Embassy in Yugoslavia and the 2001 South China Sea collision incident and the "Cox Report" and "Control High-Tech Machine Tool Export Act" during the period made domestic policy makers aware of machine tools. The importance of industry as a strategic industry must be clearly defined in the formulation of the "Eleventh Five-Year" development plan. The proportion of major equipment and high-tech industries required for national economic and national defense construction is manufactured and integrated in the country. There should be a substantial increase during the period of the first five. For example, the domestic market share of domestic CNC machine tools has reached 60%, and the gap between high-end products and international advanced level has narrowed to less than five years.
In addition, the "Special Plan for the Development of CNC Machine Tool Industry" has been drafted and is awaiting approval by the State Council. According to this "Planning", in the next five years, the machine tool industry will create 20 CNC machine tool industrialization bases and 10 basic functional parts industrial bases for them. Base enterprises will enjoy national policies and financial support. The "Planning" clarifies that the new products developed by the CNC machine tool industrialization base enterprises and the high-end CNC machine tool products implement the VAT return policy. For enterprises that have implemented consumption-type value-added tax in the transformation of the old industrial base in Northeast China, they will also receive double tax benefits.
Some reports show that although China's manufacturing industry has entered the fourth place in the world, the added value of high-tech industries accounts for only 8% of the manufacturing industry, far lower than 40% of developed countries. Among them, 70% of CNC machine tools rely on imports. To achieve this transformation, the revitalization of the equipment manufacturing industry and the transformation of traditional manufacturing industries are the top priorities. The development of equipment manufacturing industry and the transformation of traditional manufacturing industry will inevitably bring about the great development of machine tools, especially CNC machine tools.
The growth rate of CNC machine tools will reach 30%. We believe that under the condition that the growth rate of fixed assets investment will maintain about 20%, the growth rate of machine tool consumption will not be too slow, and the calculation of specific growth rate should examine the growth of downstream industries. . The downstream users of China's machine tool industry generally believe that the automotive industry accounts for 45% to 50%, machinery accounts for 20% to 25%, and the military industry accounts for 15% to 20%. Other industries account for the remaining share. We comprehensively analyze the situation of downstream industries and roughly judge that the growth rate of machine tool consumption in the next few years will not be lower than 15%.
However, from the perspective of consumption growth, we believe that the growth rate of CNC machine tools in the next five years will be much higher than the growth rate of the machine tool industry, reaching about 30%.
From the perspective of the output of CNC machine tools and the growth rate of CNC machine tool consumption, the growth rate in the past five years is much higher than the industry average. In terms of output, the average annual growth rate is 38.6%. From the perspective of consumption, the average annual growth rate is 38.8%.
However, from the data of 2004, the numerical control rate of CNC machine tools in China is 13.3%, which is much lower than that of Japan in the same period of 75.5%, and Germany and the United States are 60%. At the same time, the numerical control rate of machine tool output is 41%, which is much lower than 88% in Japan, 89% in Korea, and 75% in Germany and the United States. This means that the development of CNC machine tools in China is very large.
During the “Eleventh Five-Year Plan†period, the machine tool industry plans to increase the domestic market share of domestic CNC machine tools to 60%. According to the 2004 data, the market share of CNC machine tools is only 28.5%, and it will reach 60% market share by 2010. If calculated according to the annual growth rate of machine tool consumption by 12% (conservative estimate), the amount of machine tool consumption in 2010 is 18.3 billion US dollars; according to the 70% consumption numerical control rate, the consumption of CNC machine tools is 12.8 billion US dollars, and the domestic production of CNC machine tools reaches 60%. The target will require $7.68 billion. This means that the output value of CNC machine tools has reached US$7.68 billion from US$1.64 billion in six years, with an average annual growth rate of 29.4%.
Shenyang Machine Tool and Qinchuan have obvious development advantages At present, there are 4 listed companies in the machine tool industry in Shanghai and Shenzhen. They are Shenyang Machine Tool, Qinchuan Development, Jiaoda Technology and Qinghai Huading. From the perspective of product structure, sales scale and profitability, the advantages of Shenyang Machine Tool and Qinchuan Development are obvious. Among them, Shenyang Machine Tool has the strongest product representative, while Qinchuan Development has strong profitability.
Shenyang machine tools in the low-end, mid-range and some high-end CNC machine tools, the company's products have a strong cost-effective advantage. Some medium and high-end CNC machine tools have entered the core manufacturing fields of national key industries in batches, achieving partial replacement of imports. At the same time, in order to comply with market demand, the proportion of CNC products is increasing.
Through independent innovation, the company's high-end products are undergoing a strategic transformation from “introduction and absorption†to “independent originalityâ€. The company has become one of the few suppliers in China that can provide flexible production lines for the manufacture of key automotive parts. The technical level has always maintained the leading position in the same industry.
Qinchuan Development Company's machinery products include precision gear grinding machines, cylindrical grinding machines, plastic machinery, steering pumps, special gear boxes and other products. With the company's technical strength and barriers to entry, the company's mechanical products gross margin is maintained at around 30% (including grinding More than 40% of gear machines and more than 20% of external grinding machines are higher than the average level of general machinery and machine tool manufacturing.
The company's technical level is in a leading position in the domestic machine tool industry. R&D investment accounts for more than 6% of annual sales revenue, and the output value of new products exceeds 65%. The VTM180 gantry type milling and boring compound machining center was introduced in 2004, which realizes the combination of turning, milling and grinding different functions (types of work). At present, only a few countries have mastered this manufacturing technology, which is a fighter aircraft, a strategic missile, and a gas turbine. Key equipment for the manufacture of some key components.
Jiaoda's technology machine tool business has strong competitiveness, and its leading product trampoline (including horizontal boring machine, floor boring machine, horizontal machining center, coordinate boring machine) ranks second in China, and its technical level ranks first, and the company's boring machine products The large-scale numerical control ratio has reached 50%, ranking first in China. The product level of Qinghai Huading Company has always been at the leading position in China. The XH7910 vertical horizontal conversion five-face machining center developed has filled the domestic gap. The company also invested 13 million yuan to acquire Qinghai Gear Factory and set up a gearbox branch. It uses its high-precision machining equipment and heat treatment equipment to produce high-quality gearbox products. It has become the main manufacturer of domestic Komatsu series bulldozers. Package product. The company also established Guangzhou Hongli CNC Equipment Co., Ltd. with Guangzhou Machine Tool Plant, and its overall performance has reached the international advanced level.
Equipment manufacturing industry faces revitalization opportunities In 999, the bombing of the Chinese Embassy in Yugoslavia and the 2001 South China Sea collision incident and the "Cox Report" and "Control High-Tech Machine Tool Export Act" during the period made domestic policy makers aware of machine tools. The importance of industry as a strategic industry must be clearly defined in the formulation of the "Eleventh Five-Year" development plan. The proportion of major equipment and high-tech industries required for national economic and national defense construction is manufactured and integrated in the country. There should be a substantial increase during the period of the first five. For example, the domestic market share of domestic CNC machine tools has reached 60%, and the gap between high-end products and international advanced level has narrowed to less than five years.
In addition, the "Special Plan for the Development of CNC Machine Tool Industry" has been drafted and is awaiting approval by the State Council. According to this "Planning", in the next five years, the machine tool industry will create 20 CNC machine tool industrialization bases and 10 basic functional parts industrial bases for them. Base enterprises will enjoy national policies and financial support. The "Planning" clarifies that the new products developed by the CNC machine tool industrialization base enterprises and the high-end CNC machine tool products implement the VAT return policy. For enterprises that have implemented consumption-type value-added tax in the transformation of the old industrial base in Northeast China, they will also receive double tax benefits.
Some reports show that although China's manufacturing industry has entered the fourth place in the world, the added value of high-tech industries accounts for only 8% of the manufacturing industry, far lower than 40% of developed countries. Among them, 70% of CNC machine tools rely on imports. To achieve this transformation, the revitalization of the equipment manufacturing industry and the transformation of traditional manufacturing industries are the top priorities. The development of equipment manufacturing industry and the transformation of traditional manufacturing industry will inevitably bring about the great development of machine tools, especially CNC machine tools.
The growth rate of CNC machine tools will reach 30%. We believe that under the condition that the growth rate of fixed assets investment will maintain about 20%, the growth rate of machine tool consumption will not be too slow, and the calculation of specific growth rate should examine the growth of downstream industries. . The downstream users of China's machine tool industry generally believe that the automotive industry accounts for 45% to 50%, machinery accounts for 20% to 25%, and the military industry accounts for 15% to 20%. Other industries account for the remaining share. We comprehensively analyze the situation of downstream industries and roughly judge that the growth rate of machine tool consumption in the next few years will not be lower than 15%.
However, from the perspective of consumption growth, we believe that the growth rate of CNC machine tools in the next five years will be much higher than the growth rate of the machine tool industry, reaching about 30%.
From the perspective of the output of CNC machine tools and the growth rate of CNC machine tool consumption, the growth rate in the past five years is much higher than the industry average. In terms of output, the average annual growth rate is 38.6%. From the perspective of consumption, the average annual growth rate is 38.8%.
However, from the data of 2004, the numerical control rate of CNC machine tools in China is 13.3%, which is much lower than that of Japan in the same period of 75.5%, and Germany and the United States are 60%. At the same time, the numerical control rate of machine tool output is 41%, which is much lower than 88% in Japan, 89% in Korea, and 75% in Germany and the United States. This means that the development of CNC machine tools in China is very large.
During the “Eleventh Five-Year Plan†period, the machine tool industry plans to increase the domestic market share of domestic CNC machine tools to 60%. According to the 2004 data, the market share of CNC machine tools is only 28.5%, and it will reach 60% market share by 2010. If calculated according to the annual growth rate of machine tool consumption by 12% (conservative estimate), the amount of machine tool consumption in 2010 is 18.3 billion US dollars; according to the 70% consumption numerical control rate, the consumption of CNC machine tools is 12.8 billion US dollars, and the domestic production of CNC machine tools reaches 60%. The target will require $7.68 billion. This means that the output value of CNC machine tools has reached US$7.68 billion from US$1.64 billion in six years, with an average annual growth rate of 29.4%.
Shenyang Machine Tool and Qinchuan have obvious development advantages At present, there are 4 listed companies in the machine tool industry in Shanghai and Shenzhen. They are Shenyang Machine Tool, Qinchuan Development, Jiaoda Technology and Qinghai Huading. From the perspective of product structure, sales scale and profitability, the advantages of Shenyang Machine Tool and Qinchuan Development are obvious. Among them, Shenyang Machine Tool has the strongest product representative, while Qinchuan Development has strong profitability.
Shenyang machine tools in the low-end, mid-range and some high-end CNC machine tools, the company's products have a strong cost-effective advantage. Some medium and high-end CNC machine tools have entered the core manufacturing fields of national key industries in batches, achieving partial replacement of imports. At the same time, in order to comply with market demand, the proportion of CNC products is increasing.
Through independent innovation, the company's high-end products are undergoing a strategic transformation from “introduction and absorption†to “independent originalityâ€. The company has become one of the few suppliers in China that can provide flexible production lines for the manufacture of key automotive parts. The technical level has always maintained the leading position in the same industry.
Qinchuan Development Company's machinery products include precision gear grinding machines, cylindrical grinding machines, plastic machinery, steering pumps, special gear boxes and other products. With the company's technical strength and barriers to entry, the company's mechanical products gross margin is maintained at around 30% (including grinding More than 40% of gear machines and more than 20% of external grinding machines are higher than the average level of general machinery and machine tool manufacturing.
The company's technical level is in a leading position in the domestic machine tool industry. R&D investment accounts for more than 6% of annual sales revenue, and the output value of new products exceeds 65%. The VTM180 gantry type milling and boring compound machining center was introduced in 2004, which realizes the combination of turning, milling and grinding different functions (types of work). At present, only a few countries have mastered this manufacturing technology, which is a fighter aircraft, a strategic missile, and a gas turbine. Key equipment for the manufacture of some key components.
Jiaoda's technology machine tool business has strong competitiveness, and its leading product trampoline (including horizontal boring machine, floor boring machine, horizontal machining center, coordinate boring machine) ranks second in China, and its technical level ranks first, and the company's boring machine products The large-scale numerical control ratio has reached 50%, ranking first in China. The product level of Qinghai Huading Company has always been at the leading position in China. The XH7910 vertical horizontal conversion five-face machining center developed has filled the domestic gap. The company also invested 13 million yuan to acquire Qinghai Gear Factory and set up a gearbox branch. It uses its high-precision machining equipment and heat treatment equipment to produce high-quality gearbox products. It has become the main manufacturer of domestic Komatsu series bulldozers. Package product. The company also established Guangzhou Hongli CNC Equipment Co., Ltd. with Guangzhou Machine Tool Plant, and its overall performance has reached the international advanced level.
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