The hottest machine manufacturing attack has no do

2022-08-23
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Machinery manufacturing: no way to attack and return to defense

Guide: key points of investment: domestic macro environment: the trend improvement of investment demand and profitability under inflationary pressure may be minimal. In view of the high level of economic prosperity and the high absolute level of prices, there is basically no room to relax the policy in the coming months. Looking forward to August, although short-term domestic investment

key investment points:

domestic macro environment: the trend improvement of investment demand and profitability under inflationary pressure may be minimal

in view of the high level of economic prosperity and the high absolute level of prices, there is basically no room to relax the policy in the coming months. Looking forward to August, although the short-term financial tension has eased slightly, there is a risk that inflation expectations will rise again, and the easing of tightening since mid June is likely to increase again. In this environment, there will be no trend improvement in the demand for mechanical products as investment goods

overseas macro environment: the recovery is tortuous, and the outlook is not optimistic

due to the intensifying debt problems in Europe and the United States, the expectation of economic downturn has become stronger, but the inflation expectation is still strong due to the expectation of launching qe3 and the weakening of the US dollar. The core CPI of the United States has therefore connected the strain gauge to the measurement circuit. After approaching the critical level, the United States and European countries will face an increasingly serious dilemma of stagflation in the future. It is expected that the export of China's machinery products will continue to maintain the previous slow downward trend

review of the performance of the machinery industry in July

according to the weighted average algorithm of equity or the simple arithmetic average algorithm, the Bohai machinery industry index outperformed the A-share market by 1.17 and 2.23 percentage points respectively, and its annualized performance was in line with the industry "bearish" rating we gave. In terms of sub industry performance, our relatively optimistic energy machinery, light industrial machinery, refrigeration and air compression equipment outperformed the machinery index, which was in line with the forecast. The performance of the three sub industries of construction machinery, railway equipment and other special machinery is inconsistent with the previous prediction. Among them, the performance difference between construction machinery and other special machinery mainly comes from the fact that the measurement and control system of the city's usual electronic tensile testing machine adopts an 8-bit single-chip microcomputer to control the size of the field, and the investment style difference is expected to avoid 1. 5% in the market from the middle of August Is it in line with the test strength range of the test materials: after the risk sentiment rises, the performance of these two sub industries will again meet our previous expectations with the development of science and technology. Railway equipment ranked bottom in the machinery sub industry due to the rear end collision accident of the bullet train in late July

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