The hottest machinery manufacturing focuses on str

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Machinery manufacturing: focus on structural opportunities

the gap between supply and demand of natural gas has expanded, and the drilling and completion equipment is facing a high boom. It is judged that China will continue to face the situation of natural gas supply in short supply before 2022. In 2018, the annual consumption is expected to exceed 280billion cubic meters, but 263.5 billion cubic meters of natural gas has been available, with a supply gap of nearly 100 million cubic meters. In the medium term, natural gas will account for about 10% of primary energy consumption in 2020, corresponding to 380billion cubic meters, while domestic gas production will only reach 200billion cubic meters in 2020. The external dependence of natural gas will rapidly climb from 38.5% in 2017 to 47.4% in 2020. There is great pressure on independent supply of natural gas

it is imperative to increase reserves and production of shale gas, and the demand for drilling and completion equipment is high. In 2017, the domestic natural gas was nearly 150billion cubic meters, and by 2020, the domestic natural gas will reach 200billion cubic meters, which means an annual increase of 50billion cubic meters. According to the plans of PetroChina and Sinopec, we are willing to share our expertise in the field of non-metallic materials, of which nearly 100 million cubic meters are contributed by unconventional natural gas such as shale gas, and the other part is contributed by conventional natural gas. In order to achieve the production target of 30billion cubic meters of shale gas, if the pressure is found to be insufficient, domestic fracturing trucks need to be added in, and drilling and completion equipment should meet the high boom

in 2019, power lithium batteries will usher in a second capacity cycle, Europe and the United States will prosper, LG Chemical and catl will build factories in Europe on a large scale, and domestic lithium battery equipment will go to sea with excellent competitiveness. By the first half of 2018, the European market had sold 195000 vehicles, 42% year-on-year, and 122000 vehicles, 37% year-on-year. International auto giants have established electrification as the group's strategy, of which, 10000 vehicles are planned to be sold by 2025, accounting for% of the total sales, and 150gwh capacity will be required at that time. LG Chemical, catl and other enterprises have announced their plans to build factories in Europe. Chinese lithium battery equipment will enter the European market with high cost performance and delivery and after-sales capacity

overseas lithium battery giants are about to re-enter the Chinese market. In July, 2018, LG officially signed a contract with the government of Nanjing Jiangning Binjiang Development Zone. LG will invest $2billion in the Binjiang Development Zone to build a power battery project. It will achieve full production in 2023, with an annual output of 32gwh of power battery. In addition, Samsung SDI has restarted the phase II project of the power battery production base in Xi'an, with a total investment of about 10.5 billion yuan

China's semiconductor technology breakthrough is the general trend, and the domestic substitution space is broad. The policy supports the special superimposed funds of testers to help judge the general trend of China's semiconductor equipment technology breakthrough. Among them, the equipment related to silicon wafer manufacturing and packaging testing is expected to take the lead in localization, and the etching link of wafer manufacturing is also expected to break through. However, according to icinsights' prediction, the capital expenditure of Chinese semiconductor companies accounted for only 10.6% of the world in 2018. We judge that benefiting from the transfer of the semiconductor industry, China's semiconductor investment will grow against the trend in 2019

risk tip: the prosperity of the industry is lower than expected, and the related targets are lower than expected

(: hn888)

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