Analysis of the development of bearings in the past five years is expected to reach 222 billion in 2015 sales

Bearings are a key industry in urgent need of development. It is also mentioned that by 2015, the sales of the bearing industry will reach 222 billion yuan. The average annual growth rate of the industry will be between 12% and 15%. What is the current state of development of the national bearing industry?

First of all, from the perspective of production scale, China's bearing industry has ranked third in the world, and the amount is relatively large, but there is still room for development in the high-end segment. I think the bearing industry is the most important one in the mechanical infrastructure industry. Sub-sectors, it can be said that the mechanical basic parts are very important, so I think that during the "12th Five-Year Plan", the development of bearings is mainly based on high-end import substitution, mainly in the following categories, like the high-end CNC The machine tool bearings, as well as the electric spindle, the third is the basic bearings of high-power wind turbines, the fourth is the bearing of the heavy transport aircraft, the fifth is the heavy-duty helicopter bearings, I think these five kinds of bearings are relatively speaking The future development space will be very large. The related listed companies may be Axis Research, Tianma and Wazhou. Among them, Axis Research and Tianma have wind power and some of the machine tool spindle bearings in this area. The high-end bearing it has involved, but the tile shaft is currently on the B shares, if the return to the A-shares should also be said to become everyone's attention. One of a listed company.

The performance in the announcement stated that the net profit attributable to the shareholders of the listed company in 2011 was a year-on-year increase of 30%, and the company’s ROE has been declining in recent years. How do you think of the company’s possible future benefits from planning? This year's performance has increased by 30% year-on-year. It should be said that the industry is still relatively good, because this year, whether it is the host or the three-base industry, the demand is not particularly strong, but also affects the level of gross profit margin. As far as the company itself is concerned, the company In the space special bearing this piece has a monopoly, like domestic rockets, satellites, spacecraft bearing market share is basically 100% market share, and the company's other high-end products like precision group bearings, ceramic bearings this is also With leading technology in the country, the company is the only domestic manufacturer in China that can compete with foreign well-known manufacturers in terms of bearing core technology.

I think the future if he said that he is benefiting from the plan or what I just said. The first is a special subsidy; the second is the support of scientific research funds; the third is the preferential taxation. Others are like the construction of some public platforms and R&D platforms, so companies will also play a role in signing or setting standards.

Jinxi Axle announced that the third quarterly report company’s operating income in the third quarter was 4.78 yuan, a year-on-year increase of 52.03%, and net profit attributable to owners of the parent company was 5.67 million yuan, an increase of 64.39% year-on-year. The operating income of the first three quarters was realized. It was RMB1.555 billion, an increase of 31.94% over the same period of last year. The net profit was 50.18 million yuan, a year-on-year increase of 125.26%. What do you think of the performance of the company's three quarterly report?

Jinxi Axle this company does not strictly belong to the three-base industry, but most of the main business is the axle business, it can be considered that the parts and the three-base industry are more relevant, and his three quarterly news reporter just mentioned him. The performance is very good, but I think the main reason is still two reasons.

The first is that the base figure of last year was relatively low, because last year's demand including the subsidiary company he acquired did not contribute to the performance. Both factors caused the performance of the previous year to be not very good, so the small base this year reflects the possibility of a year-on-year increase. This is the first reason.

The second is that his truck business this year has grown very fast this year. The relatively strong absorption of trucks this year was mainly due to the huge increase in the National Railways tender for the Ministry of Railways and the bidding for independent vehicle companies. The company also seized this opportunity. Therefore, the growth of performance is relatively fast. We expect there will be a relatively stable growth in the demand for trucks in the future, but the company is still in a state of technological transformation in other traditional businesses, especially Baotou (North Zhangdao) which also led to this year. A major business of the company, the gross profit rate of the axle business is only about 4.5%.

Recalling that at the peak of 2008, the gross profit margin of the company's axle business was 22%, which is very large compared with the current 4.5%. However, in the future, the axle business will be operated after the completion of the technological transformation of the company's headquarters and Baotou North Road. There will be room for recovery, so I am optimistic about the future development of the company next year.