The hottest robot stirred up the concept of capita

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Robots stir up the capital market, and the concept of hot speculation cannot hide the dilemma of low gross profit

robots stir up the capital market, and A-share related concept stocks once soared. While the appearance is bright, the robot industry has high-end technology, high-end talents and high investment, but the return is low value-added. It also has to face the reality that the core parts are controlled by others and the relevant listed companies are mostly located in the low-end market

Qu Daokui, President of Xinsong Robot Automation Co., Ltd. and deputy director of the robot National Engineering Center, pointed out that to develop the robot industry, China must first have large and competitive enterprises

Yang Yang, managing director of Changsha Changtai robot and vice chairman of the international robot and intelligent equipment industry alliance, also pointed out that the robot industry will carry out national top-level design, concentrate resources to build several internationally competitive companies, and drive the development of the entire industry

robot concept stocks are hot

the daily economy notes that with the decline of robot prices, the rapid rise of labor wages, and the rapid growth of robot demand, robot concepts are hot in the capital market

in the A-share market, the price of robot leader robots rose from 11.5 yuan (calculated according to the former resumption of rights) on December 22, 2012 to 41.71 yuan on December 22, 2014, a cumulative increase of 262%

the hot speculation of robot concept stocks has attracted the rush of capital from all walks of life, making the acquisition of robot related assets of A-share listed companies more and more popular

according to incomplete statistics, since 2014, more than 30 listed companies in the two cities have involved in mergers and acquisitions or invested in robot and intelligent automation projects, almost all of which are private listed companies as the main force. It is worth noting that more than 80% of the mergers and acquisitions are not mainly engaged in robots, with obvious cross-border intentions

due to the acquisition of 20% equity of Jiateng robot, the share price of Dongfang Seiko has increased by 165% since 2014; The share price of Sanfeng intelligent robot has risen 90% since April 2014. Linzhou Heavy Machinery Co., Ltd. increased by more than 70% in just three months after it announced that it was involved in the robot business. After xinshida's acquisition, the company's share price rose by 7 limits in a row

Qu Daokui told: the reality faced by China's robot industry is that there are few high-end robots, the proportion of low-end robots is large, and the industry is small, scattered and chaotic due to repeated construction. The final result is "three high and one low", that is, high-end technology, high-end talents and high investment, and the return is low added value

Changjiang Securities Research Report shows that although industrial robots have developed rapidly, there is a large gap compared with developed countries. The three core components of domestic robots also rely on foreign investment for a long time. At present, China's own brand industrial robots are mainly middle and low-end three-axis and four axis robots, and the high-end six joint axis robots account for less than 6%. Multi joint robots in other countries have accounted for 62% of the national industrial robot sales

according to the data, about 62 domestic listed companies are involved in intelligent machines, of which 40 are involved in the robot industry, including 20 manufacturers of industrial robots, service robots and 10 system integrators. In the core parts field, only three companies do speed reducers, three companies do control systems, and four companies do servo systems

Changjiang Securities Research Report shows that most domestic ontology enterprises are still on the edge of profit and loss line with government subsidies. However, the profitability of the system integration field is relatively considerable, and the gross profit rate can reach about 30% on average. In addition, parts enterprises can achieve self-sufficiency in core components, which can improve the overall profitability of enterprises

it is noted that upstream core components and downstream system integrators have good profitability, with an average gross profit margin of about 30%, and there are only 18 listed companies involved in these two fields. As for the ontology manufacturers in the middle reaches, the gross profit margin is only 10% - 20%, and there are more listed companies, reaching about 20, indicating that more A-share listed companies are located in the low-end manufacturing field of robot with low added value, and less in the high-end core field with high added value

integrate resources with the help of the capital market

despite the above problems in the industry, people in the industry are full of confidence in the future of robots

the robot industry is actually just starting, and there is a lot of room for development in the future. With the development of intelligence, we will really enter the era of robots. It is still in the machine age, and has not entered the human age, so this era is very long. Qu Daokui said

talking about the future application fields of robots, Qu Daokui believes that there may be a potential large market for robots in the 3C and 3D industries. 3C field is a labor-intensive industry in China, so there is a lot of room for robots to replace in the future

he believes that robots also have a promising future in the 3D industry, namely dirty, danger and dark. In the dirty, messy, dangerous and boring fields, the foreign industrial chain has disappeared, and low-end manufacturing has been transferred to China. China's labor-intensive industries typically focus on 3D. This field now needs robots to replace it, because the environment is too bad, it is easy to have life-threatening and occupational diseases. More importantly, jobs in harsh environments face difficulties in recruitment. If the technical problems of robots in these fields can be solved and the economic ability of enterprises can be borne, robots can be widely used in these fields

the upgrading of China's manufacturing industry puts forward higher requirements for the research of new manufacturing processes, forcing related enterprises to carry out technological upgrading or industry resource integration. Domestic enterprises should not only reduce the cost of robots, but also improve the competitiveness of local robots and carry out import substitution. It is an inevitable requirement to make a breakthrough in the field of upstream core components

controller, servo motor and reducer are known as the three core parts of robot. Listed companies have inherent advantages in the integration of core parts resources. It is learned that at present, the listed companies involved in the controller include Huazhong CNC, zhongweixing under xinshida, and Gu hi tech with 35% equity participation of Cixing, which have achieved the independent production of the controller. The robot controller products of domestic enterprises have been relatively mature, and are the key components with the smallest gap between robot products and foreign products

the synergy in the robot field formed by xinshida's acquisition of zhongweixing through the capital market can be used as a classic case. The production capacity of the motion control system of zhongweixing involving robots is 660 sets per year. In terms of core technology, zhongweixing's motion controller can currently support 32 axis motion control (foreign technologies with more than 6 axes are embargoed to China). After the acquisition of zhongweixing, the company completed the complete industrial chain layout of upstream control and drive integration + midstream robot ontology

in terms of reducer, Qinchuan machine tool integrates the RV Reducer production line of the major shareholder in the capital market, with an annual output of 180000 sets planned. The 250aii reducer of the company has passed the appraisal and acceptance of the National 863 project. Qinchuan machine tool will start from the key part joint reducer, and gradually intervene in servo machines, drivers and robot machines. Qinchuan machine tool engineer told that the RV Reducer of the company is currently in the stage of small batch production due to the incomplete series of products, and a series of reducers of different specifications will be developed successively, because the market needs different types of reducers

there is a certain gap between domestic servo systems and Japanese products in terms of function, performance and technology, but this gap is narrowing. Related listed companies include Huichuan technology, Huazhong CNC, xinshida, etc

the low-end product program assumes that it has not exited the experimental state and prompts that the competition has become white hot at the end of the experiment.

Yang Yang told the daily economy that at the central economic work conference, the state will do top-level design for the robot industry, and will concentrate resources on building several leading robot enterprises, all of which will fully meet the mechanical standards of pipe testing and lead the development of downstream related industries

Yang Yang revealed that Changsha Changtai robot company is a company under the central enterprise China Light Industry Group. Changtai robot wants to make use of the capital market to become bigger and stronger. At present, it is undergoing share reform and preparing for IPO. If the IPO is unsuccessful, it is not ruled out to buy a shell in the A-share market

Lin Zuoming, chairman of AVIC, said that AVIC has relatively perfect aviation technology and industrial system, and has comparative advantages in radio and television, monitoring, control, driving, information processing and new material robot intelligent technology. At the same time, there is also demand within the group. AVIC has vigorously cultivated the robot industry as a strategic emerging industry, and has made an early layout in high-end robots

Lin Zuoming said that AVIC will accelerate the industrialization of aviation scientific and technological achievements into robots and intelligent equipment, and promote the application of robots in services, families and other fields. When robots enter thousands of households like household appliances and cars, a huge consumer market will inevitably be formed

Qu Daokui said that at present, the competition for low-end products such as traditional robots has reached white hot, and the technical threshold and added value are relatively low. However, the new generation of robots is a blue ocean market, and Xinsong should completely avoid low-end fields such as traditional robots. In recent years, Xinsong robot has paid attention to medium and high-end technologies and products, and its products are distributed in many fields, such as industrial robots, special robots, clean robots and so on

however, compared with foreign enterprises, there is still a significant distance between the share of Xinsong robot in the domestic market. According to statistics, more than half of the domestic robot market, which is the first in China to promote the rapid transformation and upgrading of the automotive industry and promote the comprehensive revitalization of independent brands, is occupied by foreign enterprises dominated by four families, while the current market share of Xinsong robot is 4.4%

a securities analyst also mentioned that there is differentiated competition between Xinsong and the four families. The four families are mainly in the automotive field, with fixed partners. The market has been almost divided, and it is difficult for other enterprises to enter in this area. But in other industries and fields, they haven't entered much at present, because they think it's too small

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