Nickel-based Laser Cladding Powder is a type of powder material used in laser cladding processes. Laser cladding is a technique that involves using a high-energy laser beam to melt and fuse a powdered material onto a substrate, creating a protective or functional coating. Ni Based Powder,Inconel 718 Powder,Nickel Base Powder,Inconel 625 Powder Luoyang Golden Egret Geotools Co., Ltd , https://www.xtclasercladding.com
The 12th Five-Year Plan for China Construction Machinery Industry will be launched in late December 2010. According to the plan, by 2015, the sales revenue of China's construction machinery industry will reach 900 billion yuan. In 2010, the sales revenue of construction machinery industry will reach 400 billion yuan.
During the 12th Five-Year Plan period, the scale of investment in fixed assets across the society is expected to be around 20%. National construction projects such as railways, highways, transportation, energy, urbanization construction and real estate, and primary industry investment, and local construction projects are still the main investment directions. Therefore, the construction machinery industry will maintain steady growth with the second half of 2010 as the base, and it is expected that the average annual growth rate will be more than 2 digits.
With the further fact that during the 12th Five-Year Plan period, the adjustment of industrial structure and growth mode, the rapid development of strategic emerging industries, the development of the western region, the revitalization of Northeast China, the rise of central China, and the construction of Xinjiang, will surely create good conditions for the construction machinery industry. Macroeconomic environment. At the same time, the demand for major products of construction machinery in the international market will reach US$200 billion in 2015, and exports of construction machinery products in China will reach about US$20 billion, becoming a major exporter.
At present, the new round of technological revolution is in the start-up period, and several important fields are brewing new breakthroughs. The development of new technologies and new industries will change the comparative advantages and competition relations of various countries. Under this background, the international industrial division of labor and trade pattern will emerge. In-depth adjustments. Most of China's construction machinery industry is at the low end of the international division of labor and will face severe challenges.
List of beneficiary shares
Sany Heavy Industry
The company's excavator business was officially incorporated into a listed company in 2009. According to the statistics of China Construction Machinery Information Network, the company's sales of excavators reached 1,170 in January-February 2010, and its market share increased to 7.0%. In January-February, the sales growth of the company reached 94% in the context of a 55% increase in sales volume across the industry. In recent months, the company’s market share has exceeded that of foreign brands such as Caterpillar and Hyundai Capital, proving that the company’s products are highly competitive. force. The group company made a commitment to the profitability of the excavator business. If the earnings of the excavator business in 2009-2011 were lower than 380 million, 450 million and 500 million yuan respectively, the group company would compensate for the insufficient part, thereby protecting all shareholders. Interests.
Zoomlion
According to statistics from China Construction Machinery Information Network, Zoomlion’s auto crane business sold 908 units in January-February 2010, an increase of over 150% year-on-year, with a market share of 23%. It is estimated that the company's concrete machinery sales in January-February (excluding CIFA) increased by more than 100% year-on-year. The company's construction cranes achieved sales revenue of 370 million yuan in the first week of March in the first three weeks, including sales of more than 100 million yuan on March 5. We believe the company's orders in the next 3 months will be very full.
Liugong
According to statistics from China Construction Machinery Information Network, Liugong's sales volume of loaders for January-February 2010 was 5,188 units, an increase of 84% year-on-year, while sales across the industry rose by 65% ​​year-on-year. In the January-February period, the company's excavator business performed generally. The sales volume of the company rose by 40% year-on-year to 469 units in the context of a 56% increase in sales volume across the industry. The company's 2009 net profit rose sharply by 155% year-on-year to RMB 866 million, which was mainly attributable to the significant drop in steel costs. The main raw material for Liugong's production is steel. The company's gross profit margin is highly sensitive to steel prices. Due to the significant decrease in steel prices, the company's gross profit margin in the fourth quarter of 2009 was 21.6%, which was higher than the 21.0% in the third quarter of 2009 and the 14.1% in the fourth quarter of 2008.
Xugong Technology
Xuzhou Heavy Machinery has always been the largest domestic construction crane manufacturer. According to statistics from China Construction Machinery Information Network, the company sold 2,055 truck cranes in January-February 2010, an increase of more than 100% year-on-year, accounting for 52% of the market. Benefiting from the large amount of infrastructure investment in the country's future high-speed railway construction, domestic demand for construction cranes will have strong support. It is expected that Xugong’s auto crane business will achieve a 25-30% revenue growth in 2010. The loader business of the company recovered well. In January-February 2010, the sales volume of loaders was 1,623, a year-on-year increase of 76%.
Shanhe Intelligence
As a major manufacturer of small excavators in China, the company’s current sales of small diggers have temporarily exceeded Yuchai’s shares. In January-February 2010, sales volume increased by 71% year-on-year, with a market share of 3.4%. Domestic excavator's main exports are concentrated in small excavator products. Due to the recovery of foreign markets, exports of small excavators have shown signs of stabilization in recent months. We expect the small excavator business will improve somewhat in the coming months, and the company's other products such as rotary drilling rigs and static pile drivers continue to grow rapidly. In addition, the company is expanding into large and medium-sized excavators.
Shantui shares
Shantui still maintains its leading position in the bulldozer industry in China, and its position in the industry continues to be consolidated. According to statistics from China Construction Machinery Information Network, the company's market share has reached 60.5% in January-February 2010. Driven by a large number of domestic infrastructure projects, Shantou's bulldozer sales increased by 49% year-on-year in January-February. The company's joint venture Komatsu Yamashita’s sales of excavator products also rose slightly, but its market share still ranks second in the domestic industry.
Anhui Heli
As China's macro economy stabilized and domestic demand continued to increase, the domestic forklift market rebounded in the fourth quarter of 2009. From the 2009 annual report, we can see that the company achieved a net profit of RMB 70.75 million in the fourth quarter of 2009, which is a year-on-year increase of 10 times and a month-on-month increase of 103%. Benefited from the apparent recovery of the domestic forklift market, the company’s product mix has improved and its gross profit margin has continued to increase. The company's gross profit margin in the fourth quarter of 2009 was 20.7%, which was higher than the 17.1% in the third quarter, 15.3% in the second quarter, and 11.1% in the first quarter.
As China's macro economy stabilizes, the demand for forklifts in the domestic market will rebound sharply in 2010. At the same time, the global forklift market will also see a warming trend. It is estimated that the company’s export sales in 2010 will increase by more than 50% year-on-year. We believe that the company's 2010 performance will re-enter the rising channel.
XGMA shares: transformation brings opportunities, performance growth
In the first half of the year, the company realized operating income of 4.969 billion yuan, an increase of 101.83% year-on-year; net profit of 405.35 million yuan, a year-on-year increase of 682.08%; and a realized earnings per share of 0.58 yuan, in line with expectations. The gross profit margin of the company increased significantly, from 14.47% at the end of 2009 to 20.11% in mid-2010, which is the best level in recent years. The increase in gross profit margin was mainly due to the lower gross profit margin of the company's loaders in the previous period and the company’s products. With structural adjustments, declining raw material costs, and improved capacity utilization, the company's gross profit margin has returned to normal levels. We expect that the company's gross profit margin will continue to maintain a relatively high level in the future. In 2010, the company's sales target for excavators was more than 2,000 units. From January to July, the sales volume of the company was 1,773 units. The annual sales volume will far exceed the target. With the scale effect of the release of company's production capacity and the increase in the proportion of self-produced parts and components, we expect the company's excavator gross margin to increase to more than 20%.
The rapid growth of the excavator's revenue will improve the company's income structure and enhance the company's competitiveness, becoming a bright spot for the company's future performance. Hiring professional managers to manage old state-owned enterprises is a breakthrough in the company's system, which reflects the change in the company's management and management thinking and brings new vitality to the company. At the same time, through the integration of resources in 2009, the company's operating and management efficiency has been improved. It has also highlighted its core business and saved costs, which is conducive to improving the company's profitability and enhancing its competitiveness. It is expected that the company's 10-12 EPS will be 0.99 yuan, 1.23 yuan and 1.49 yuan respectively. At present, the company's product sales are growing rapidly. Considering the current market valuation and the company's future growth, we believe that the company's 2010 reasonable valuation is 15-20 times. PE, corresponding to the company's target price of 14.85 yuan in the next 6 months, maintains the company's "buy" rating.
Nickel-based laser cladding powders typically consist of nickel as the main component, along with other alloying elements such as chromium, molybdenum, and tungsten. These alloying elements help to improve the mechanical properties, corrosion resistance, and wear resistance of the resulting coating.
Nickel-based laser cladding powders are commonly used in various industries, including aerospace, automotive, and oil and gas. They are often chosen for their excellent corrosion resistance, high-temperature strength, and ability to withstand harsh environments.
The laser cladding process using nickel-based powders can be used to repair damaged or worn-out parts, enhance the surface properties of components, or create new parts with specific properties. The laser beam melts the powder material, which is then rapidly solidified to form a dense and metallurgically bonded coating.
Overall, nickel-based laser cladding powders offer a versatile and effective solution for improving the performance and lifespan of components in various industries.