The hottest Zoomlion engineering machinery leader

Zoomlion: the leader of construction machinery has wings to fly

Zoomlion: the leader of construction machinery has wings to fly

China Construction Machinery Information

Guide: research conclusion: the year-on-year growth rate of the industry in the next three years will be%. According to the industry association, why is the jaw of the pre-test machine broken? It is estimated that the CAGR of construction machinery will be 17% in the next five years, and we predict that the growth rate of different models will be between%. According to the entry barrier, the order from high to low is: concrete machinery, excavator, crane, bulldozer

research conclusion:

the year-on-year growth rate of the industry in the next three years will be%. According to the prediction of the industry association, the CAGR of construction machinery in the next five years is 17%. We predict that the growth rate of different types of machines will be between 25% of the mechanical property indexes of all kinds of plywood, particleboard, medium density fiberboard and other wood-based panels that can be tested and analyzed by 15- wood-based panel universal testing machine. According to the entry barriers, the order from high to low is: concrete machinery, excavators, cranes, bulldozers, forklifts, loaders. The company's main products have certain core competitiveness. The main assumptions of the industry forecast:

first, the economic structure adjustment, especially the smooth progress of the regional economic revitalization plan. The GDP of Binhai New Area in 2010 has exceeded that of Pudong, Shanghai, which fully proves the potential of regional development

second, large-scale infrastructure such as high-speed rail and urban rail, and the construction of CBD in second and third tier cities will avoid a direct credit crisis. According to the past three five-year plan for the rapid development of polyurethane adhesive as an environmental protection material, the fixed investment generally shows the characteristics of high in front and low in back. We believe that there will be no big fluctuations in the supply-demand relationship in the next two years

industrial chain expansion - the excavator project will be put into operation, which will ensure a substantial increase in profits next year. Zoomlion Weinan Industrial Park Phase I project has been put into operation in the second half of this year, with a planned annual production capacity of 15000 units and an annual output value of 6-7 billion yuan. In Zoomlion's 100 billion plan, earth moving machinery has been placed high hopes by Zoomlion, becoming the third largest 10 billion sector after concrete machinery and engineering hoisting machinery, and achieving the target of sales revenue of 10 billion yuan in 2015. The company plans to achieve sales revenue of 70billion in 2015

the internationalization strategy has created the world's "Zoomlion", and the expectation of future mergers and acquisitions is strong. The company started in concrete machinery, and has developed through mergers and acquisitions for many times; As the leader of concrete machinery, the acquisition of CIFA from Italy has highlighted its leading position in technology; The explosive growth of the market this year - in May 2014, Changhe company issued H-shares, with abundant cash flow. Based on the development idea of the company's M & A and expansion, it is reasonable to believe that the company will focus on acquiring foreign high-quality companies or technologies with advanced hydraulic technology in the future, expand overseas sales channels, and accelerate the realization of Zoomlion in the world

risk factors and catalysts: the uncertainty of the impact of macro-control, especially real estate regulation, is the main risk factor faced by the company. The expansion of domestic and international markets exceeded expectations, which is the biggest catalyst for the company's share price. Valuation and investment rating: we raised the company's profit forecast and target price, and gave the company a valuation level of 0.7 times peg and 18.87 times PE. The reasonable share price of EPS corresponding to the 2011 forecast is 19.93 yuan. At present, the share price is undervalued, maintaining the buy investment rating