Since China's industrial automation industry started late, high-end products currently rely on imports. Foreign companies, such as Siemens, ABB, Yaskawa and Fanuc, occupy the majority of China's market, while Chinese enterprises are also gaining shares.
At present, major players in China’s industrial automation market are software and hardware manufacturers, system integrators and product distributors. Mid to high-end markets of software and hardware products are almost monopolized by famous foreign brands and the situation will continue in the near future. In terms of system integration, multinationals occupy the high-end manufacturing industry.
In the industrial automation market, there is still a gap between supply and demand. What clients need is a complete electric control system which can match their manufacturing techniques, but what suppliers provide is various standardized components. Electric control systems vary greatly across different industries. Even in the same industry, they can also vary greatly due to clients' different techniques. The gap between supply and demand also creates space to grow for the industrial automation industry.
Industrial automation is an integrated term which refers to information processing and process control. It enables equipment or production processes to measure and operate to reach set targets without human interference. With the diminishing demographic dividend, China's manufacturing industry will gradually apply advanced technologies, such as human-computer interaction and intelligent machines, to the entire industrial production process. Automation will be achieved with improved productivity under the automation control system.
Industrial robot is a typical example of automation equipment. With recognized efficiency and accuracy of robots, the benefits of industrial robots and the substitutability of physical laborers are increasingly manifesting themselves. The turning point of the economic substitution for industrial robots has emerged and growth has skyrocketed in recent years. It is expected that by 2030, key areas in China's manufacturing will become fully intelligent and key positions will be taken by robots.
Made in China 2025, published by the Chinese government in 2015, clearly stated that the development of industrial automation, including the industrial robot industry, is encouraged. Given increasing manufacturing labor costs versus decreasing prices, improving performance and extended application of industrial robots, the industrial robot industry and the entire industrial control and automation industry will keep growing at a high speed. The size of China's industrial control and automation industry exceeded CNY 150 billion in 2016. It is estimated that CAGR from 2017 to 2021 will be over 10%.
This report analyzes 14 industrial control and automation companies listed in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1) financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
- Earnings per Share
- Book Value per Share (BPS)
- Sales per Share (SPS)
- Net Cash Flow per Share from Operations
- Net Cash Flow per Share (CNY)
- Return on Net Worth
- Net Profit Margin on Total Assets
- Return on Invested Capital (ROIC) (%)
- Gross Profit Margin on Sales (%)
- Net Profit Margin on Sales (%)
- EBIT Margin (%)
- EBITDA Margin (%)
- Debt to Asset Ratio (%)
- Total Asset Turnover (times)
- Cash/Operating Income Received from Sales of Goods or Services
- YOY Growth Rate of Operating Revenue (%)
- YOY Growth Rate of Operating Profit (%)
- YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)
(2) Summary of Income Statement
- Gross Revenue (CNY, million)
- Total Operating Costs (CNY, million)
- Revenue (CNY, million)
- Operating Profit (CNY, million)
- Total Profit (CNY, million)
- Net Profit (CNY, million)
- Net Profit Attributable to Shareholders of Parent Company (CNY, million)
- Non-recurring Items (CNY, million)
- Net Profit Deducting Non-recurring Items (CNY, million)
- R&D Costs (CNY, million)
- Earnings Before Interest and Tax (EBIT) (Based on iFind) (CNY, million)
- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Based on iFind) (CNY, million)
(3) Summary of Balance Sheet
- Liquid Asset (CNY, million)
- Fixed Asset (CNY, million)
- Long-term Equity Investment
- Total Assets (CNY, million)
- Liquid Liability (CNY, million)
- Non-current Liability (CNY, million)
- Total Liability (CNY, million)
- Capital Reserve (CNY, million)
- Surplus Reserve (CNY, million)
- Undistributed Profit (CNY, million)
- Shareholders' Equity (CNY, million)
- Equity Attributable to Shareholders of Parent Company (CNY, million)
(4) Summary of Cash Flow Statement
- Cash Received from Sales of Goods and Services (CNY, million)
- Cash Flow from Operations (CNY, million)
- Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
- Cash Paid for Investments (CNY, million)
- Cash Flow from Investments (CNY, million)
- Cash Received from Investors (CNY, million)
- Cash Received from Borrowings (CNY, million)
- Cash Flow from Financing (CNY, million)
- Net Increase of Cash and Cash Equivalents (CNY, million)
- Cash and Cash Equivalents, End of Period (CNY, million)
- Depreciation and Amortization (CNY, million)
Companies in the report:
1 Ningbo Techmation CO., LTD. (603015.SH)
2 Beijing Dahao Technology Corp., Ltd (603025.SH)
3 Wuxi Xinje Electric Co., Ltd. (603416.SH)
4 Montnets Rongxin Technology Group Co., Ltd. (002123.SZ)
5 Guangzhou Zhiguang Electric Co., Ltd. (002169.SZ)
6 Shanghai Hi-Tech Control System Co., Ltd.
7 Shenzhen Invt Electric Co., Ltd. (002334.SZ)
8 Shanghai STEP Electric Corporation (002527.SZ)
9 Harbin Jiuzhou Electrical Co., Ltd. (300040.SZ)
10 Hiconics Eco-energy Technology Co., Ltd. (300048.SZ)
11 Shenzhen Inovance Technology Co., Ltd. (300124.SZ)
12 Suzhou Industrial Park Heshun Electric Co., Ltd. (300141.SZ)
13 Qingdao Hengshun Zhongsheng Group Co., Ltd. (300208.SZ)
14 Shenzhen V&T Technologies Co., Ltd. (300484.SZ)
15 Changshu Ruite Electric Co., Ltd. (300600.SZ)
1 Ningbo Techmation CO., LTD. (603015.SH)
2 Beijing Dahao Technology Corp., Ltd (603025.SH)
3 Wuxi Xinje Electric Co., Ltd. (603416.SH)
4 Montnets Rongxin Technology Group Co., Ltd. (002123.SZ)
5 Guangzhou Zhiguang Electric Co., Ltd. (002169.SZ)
6 Shanghai Hi-Tech Control System Co., Ltd.
7 Shenzhen Invt Electric Co., Ltd. (002334.SZ)
8 Shanghai STEP Electric Corporation (002527.SZ)
9 Harbin Jiuzhou Electrical Co., Ltd. (300040.SZ)
10 Hiconics Eco-energy Technology Co., Ltd. (300048.SZ)
11 Shenzhen Inovance Technology Co., Ltd. (300124.SZ)
12 Suzhou Industrial Park Heshun Electric Co., Ltd. (300141.SZ)
13 Qingdao Hengshun Zhongsheng Group Co., Ltd. (300208.SZ)
14 Shenzhen V&T Technologies Co., Ltd. (300484.SZ)
15 Changshu Ruite Electric Co., Ltd. (300600.SZ)
