Affected by the macro economy, the economic indicators of sub-sectors of electrical equipment such as lighting, batteries, and industrial boilers have all declined in different degrees in the first half of this year, and their prospects are not satisfactory.
Lighting: The smooth operation of the hidden concerns Recently, the Ministry of Industry and Information Technology announced the statistics of the lighting industry in the first half of 2012. In the first half of the year, China's lighting industry accumulated sales output value increased by 16.25% year-on-year, accumulated production and sales ratio decreased by 1.36% year-on-year, and cumulative export delivery value increased by 6.47% year-on-year. The growth rate showed an upward trend, and the economic operation situation was relatively stable. Although the official data shows that the operation is stable. However, the performance of semi-annual reports of several listed companies in the lighting industry has declined.
In the first half of the year, Snowlight (002076) had a net profit of RMB 5,229,800~588.35 million attributable to the shareholders of the listed company, which was a decrease of 10%~20% from RMB 6,537,300 in the same period of last year.
NVC Lighting (02222) was not very satisfactory in the first half of the year and has recently issued a profit warning. Its economic indicators have dropped significantly compared to the same period of last year, mainly due to the increase in product costs, consumer demand and sales.
In addition, the LED industry is no longer arrogant. Although the first half of the policy "intensive", but 70% of the LED listed company's revenue and net profit fell.
Among them, Guopu Electric (002045) in the first half revenue and net profit fell to 14% and 87%. The Huachan Optoelectronics (300323) semi-annual report, which was only launched in June of this year, showed that revenue and net profit fell by 18% and 40%, respectively, which is a typical example of performance change. In addition, although Sanan Optoelectronics (600703) nearly doubled its revenue growth, its net profit grew by less than 2%.
According to Zhang Ming, chairman of the company's upstream company, Xinli Lighting, “In the first half of the year, Europe, the United States, and Japan have all set up patent barriers for China to protect domestic companies.†Zhang Xiaofei, director of the LED Industry Research Institute of Gaogong, believes: “On the one hand, exports are sluggish. On the other hand, the industry is still in a state of overcapacity, and product prices do not rise and fall, resulting in unsatisfactory revenue and net profit for listed companies."
In addition, for the first half of the company to get listed and some companies fail. Zhang Ming believes: "The scale of LED financing should be matched with the size of the company and should not be blindly expanded."
Batteries: Decline in export delivery values ​​Recently, the Ministry of Industry and Information Technology, Consumer Products Industry Division released data showing that in the first half of 2012, China's battery industry accumulated industrial output value increased by 18.5% year-on-year, cumulative production and sales rate was 96.72%, cumulative export delivery value fell by 3.57% over the same period last year . The output value maintained a steady increase, but the export delivery value continued to show a downward trend, and the decline rate increased significantly.
In the first half of this year, cumulative production of lead-acid batteries has increased by 26.5% year-on-year, cumulative production of alkaline batteries has decreased by 9.6% year-on-year, cumulative production of lithium-ion batteries has decreased by 12.3% year-on-year, and cumulative production of primary batteries has dropped by 6.6% year-on-year.
Although the overall performance of the battery industry declined, the performance of several leading listed companies grew steadily. Desai Battery (000049) recently announced the semi-annual report. During the reporting period, the company achieved total operating revenue of 1.232 billion yuan, an increase of 49.52%; the net profit attributable to the shareholders of the listed company was 47,969,600 yuan, an increase of 19.92% over the previous year; basic earnings per share 0.3506 yuan. The company's lead-acid battery production is still growing at a relatively rapid rate. Although the output of lithium-ion batteries and alkaline batteries has decreased, the decline has been significantly reduced, and the reduction in the number of alkaline batteries has been reduced by 9.5 percentage points.
Leading-storage battery leading companies Camel and Fengfan have also released their 2012 semi-annual reports in succession. The net profit of the two listed companies increased rapidly in the first half of the year. According to the data, the net profit of Camel Co., Ltd. (601311) and Fengfan Co., Ltd. (600482) for the first half of the year were RMB 19,201,300 and RMB 4,208,100, respectively, which was a year-on-year increase of 24% and 34.72% respectively. During the reporting period, camel shares achieved operating revenue of 1,784.43 million yuan, an increase of 13.56% year-on-year; Fengfan shares achieved operating revenue of 2,300,005,100 yuan, an increase of 3.49%.
Since last year, the storage battery industry has started environmental protection storms, shutting down a large number of production capacity in the short term, and companies with environmental protection, cost, and scale advantages have expanded production capacity to fill supply-adjusted supply. After the lead-acid battery production threshold is set on July 1, its leading companies will also benefit.
Welding equipment: Demand reduction Recently, according to the “2012-2016 China Electric Welder Market In-depth Survey and Investment Decision-Making Report†released by China Business Intelligence Network, data show that: in the first half of 2012, the country’s welding machine output reached 1,942,800 units, a year-on-year increase. 8.38%. In June, China produced 374,000 sets of welding machines, an increase of 4.16% year-on-year.
The reporter learned from the reports of various listed companies that the net profit attributable to the shareholders of the listed company in the first half of 2012 was a profit of 5,290,200 to 5,847,200 yuan.
Ruiling Co., Ltd. (300514) recently announced its 2012 semi-annual report that during the reporting period net profit attributable to owners of the parent company was 45.8232 million yuan, a decrease of 8.68% from the same period last year; operating income was 378 million yuan, an increase of 7.82 from a year earlier. %; basic earnings per share was 0.21 yuan, a decrease of 4.55% from the same period last year.
Atlantic (600,558) announced the 2012 semi-annual report on August 20 that the net profit attributable to the owners of the parent company during the reporting period was 16.5882 million yuan, a decrease of 30.17% compared with the same period last year; operating income was 1.23 billion yuan, a decrease from the same period last year 4.07%; basic earnings per share was 0.12 yuan, a decrease of 30.23% over the same period last year.
According to the semi-annual report of Ruiling, in the first half of this year, the country’s steel production reached 357.197 million tons, an increase of 1.8% year-on-year, and the growth rate dropped significantly. In the increasingly harsh external environment, the demand of downstream customers in the welding equipment industry has also been greatly affected. The decline in demand for construction machinery and shipbuilding industries is particularly serious. Therefore, the overall performance of the welding industry is unavoidably affected. The process of replacing the conventional welding and cutting equipment with inverter welding and cutting equipment is still in progress. Although its performance is better than traditional welding and cutting equipment, it has become an indisputable fact that the sales volume of a large number of enterprises in the industry has declined. The market demand for automated and semi-automated welding equipment also faces downward pressure in the event of economic downturn.
According to the analysis of Atlantic, the manufacturing industries, such as infrastructure construction, shipbuilding, high-speed railways, mining machinery, and major equipment, which have a large demand for welding materials, have further contracted. The competition in the welding material industry has intensified, and the profits of most companies in the industry have fallen sharply or even suffered losses. . In addition, due to rising costs of raw materials and labor costs such as titanium series, the operating pressure of the company has continuously increased and the gross profit rate of product units has temporarily declined.
According to industry analysts, the average sales price of the welding industry has been on a downward trend, and the average profit of the industry is getting thinner and thinner. The core competitiveness and scale advantages of enterprises have enabled small enterprises with no independent research and development capabilities to have smaller and smaller living spaces, and the number of enterprises will gradually decrease.
Small and medium-sized electric motors: According to the statistics of the China Small Electrical Machinery Branch of the China Electrical Equipment Industry Association, compared with last year, the motor exports in the first half of 2012 were generally more sluggish. The European debt crisis has caused a considerable impact on China's motor industry. The overall unfavorable situation in the export situation may continue into next year.
From the analysis of the trend of motor products, in April, China's motor products had a significant increase, a growth of 25 percentage points, and in May there was a larger drop, the chain fell by 50 percentage points. From the perspective of June, the sales volume of motor products increased by another 32% from the previous month, and the performance in July was also relatively optimistic. The market share also increased relatively, with an increase of 41.4 percentage points from the previous quarter.
From the semi-annual results of the motor listed companies, it can be seen that the industry has experienced a downward trend. Dayang Motor (002249) recently released a semi-annual performance report showing that operating profit margin in the first half of the year was only 7.13%, a decrease of 5 percentage points from last year, and there was no significant change in non-operating income and expenses. Therefore, the decline in operating profitability resulted in total corporate profits. The year-on-year decrease of 32.86%. For the traditional fan load products, the Y5S(L) series and Y6S(L) series are mainly sold for the domestic market, accounting for about 40% of revenue. Since the beginning of last year, there have been different degrees of decline, and Y5S and Y6S have decreased year-on-year. 8.59% and 15.19%.
The net profit attributable to shareholders of listed companies in the first half of Jiangte Motor (002176) increased by 20% to 50% compared with the same period of last year. Affected by the macro economy, sales of motor products have been affected. Affected by the increase of rainwater in the first half of the year, the company’s mining products were affected. Due to the above reasons, the company's overall operating performance did not reach expectations.
Inverter: the most difficult year in the business Recently, Hekang Inverter (300048) released the 2012 semi-annual report. In the first half of 2012, the company realized operating income of 29,999,800 yuan, an increase of 30.05%; operating profit of 45,724,300 yuan, a year-on-year decrease of 14.73 %; The net profit attributable to shareholders of listed companies was RMB 56598.86 million, an increase of 11.27% over the same period of last year. The company achieved 0.17 yuan per share in the first half of the year.
According to company analysis, revenue growth is in line with expectations, mainly from the general high-voltage frequency conversion business. The high-voltage frequency converters are mainly in the stock market and are related to the operating rate of enterprises. The economic impact of the economic deterioration on the high-voltage frequency converter industry is slower than that of the medium- and low-voltage frequency converter industry. The company expects that the revenue growth in the second half of the year is not optimistic.
Recently, Jiuzhou Electric (300040) released its 2012 semi-annual report, showing that the company's operating income was 188 million yuan, a year-on-year decrease of 21.76%, of which high-voltage inverter system operating income was 68.05 million yuan, a year-on-year decrease of 1.75%. The company and Rockwell company signed an asset sale agreement, the sale of the target for the Jiuzhou Electric and high voltage inverter business related assets, the total amount reached 530 million yuan.
It is estimated that the company's high-voltage inverter system has achieved a net profit of about 10 million yuan per year in recent years.
Ying Wei Teng (002 334) semi-annual report shows that the company's total operating income of 333 million yuan, an increase of 11.63% over the same period last year; attributable to shareholders of listed companies net profit of 41.475 million yuan, a year-on-year drop of 27.23%; basic earnings per share of 0.19 yuan.
Relevant persons believe that the macroeconomic downturn and the overall overcapacity have led to a decline in the growth rate of fixed asset investment in the manufacturing industry, which has affected the development of the industrial control industry. In the first half of the year, the inverter business experienced the first decline in recent years, reflecting the current slump in the low-voltage inverter industry as a whole. This year will be a difficult year for all companies in the industrial control industry. Judging from the current development status of the industry, it is expected that the third quarter may still be similar to the first half of the year, and it may be difficult for the fourth quarter to pick up significantly.
Power Tools: Disparity with Foreign Countries Recently, China Business Intelligence Network released power tool data for the first half of 2012, and the output of electric tools across the country reached 120 million units. From a general point of view, there is still a big gap between China's power tool product technology level and foreign counterparts, mainly because of poor product appearance, monotonous appearance, low unit weight output, and incompatibility with electromagnetic compatibility.
In the domestic electric tool market, domestic sales of electric tools have accounted for 90% of total sales, while various imported brands only account for 10% of the market. China has become a global power tool production base. The domestic electric tool market is more discerning about the quality and brand of electric tools. Therefore, electric tools are developing with good quality and good brands.
One of the few domestic listed companies, Ruiqi Co., Ltd. (300216), one of the few listed companies, realized a net profit of RMB27,479,900, a decrease of 23.81% year-on-year. The company stated that the future high-end products will be the key development direction.
Industrial Boilers: Sales Volume Continues to Decrease According to the monitoring data of China Business Intelligence Network, in the first half of 2012, the output of industrial boilers nationwide reached 194,000 tons of evaporation, an increase of 2.71% year-on-year. In June, China produced 47,700 tons of industrial boilers, an increase of 4.53% year-on-year.
According to an industry boiler company, the market is not as good as before, and the market sales in the second half of the year may continue to decrease. According to the semiannual report of Hangzhou Boiler (002534), the company achieved an operating income of RMB 5,349,509,600, an increase of 234.11% year-on-year, an operating profit of RMB 236,233,800, an increase of 13.47% year-on-year, and a net profit attributable to the parent company of RMB 165,109,600, a year-on-year increase of 14.93%. .
According to industry insiders, due to the external economic environment of the country, the investment rate of waste incineration projects has slowed down, and companies have been delaying the execution of orders for waste incinerators, causing revenue to decline.
Lighting: The smooth operation of the hidden concerns Recently, the Ministry of Industry and Information Technology announced the statistics of the lighting industry in the first half of 2012. In the first half of the year, China's lighting industry accumulated sales output value increased by 16.25% year-on-year, accumulated production and sales ratio decreased by 1.36% year-on-year, and cumulative export delivery value increased by 6.47% year-on-year. The growth rate showed an upward trend, and the economic operation situation was relatively stable. Although the official data shows that the operation is stable. However, the performance of semi-annual reports of several listed companies in the lighting industry has declined.
In the first half of the year, Snowlight (002076) had a net profit of RMB 5,229,800~588.35 million attributable to the shareholders of the listed company, which was a decrease of 10%~20% from RMB 6,537,300 in the same period of last year.
NVC Lighting (02222) was not very satisfactory in the first half of the year and has recently issued a profit warning. Its economic indicators have dropped significantly compared to the same period of last year, mainly due to the increase in product costs, consumer demand and sales.
In addition, the LED industry is no longer arrogant. Although the first half of the policy "intensive", but 70% of the LED listed company's revenue and net profit fell.
Among them, Guopu Electric (002045) in the first half revenue and net profit fell to 14% and 87%. The Huachan Optoelectronics (300323) semi-annual report, which was only launched in June of this year, showed that revenue and net profit fell by 18% and 40%, respectively, which is a typical example of performance change. In addition, although Sanan Optoelectronics (600703) nearly doubled its revenue growth, its net profit grew by less than 2%.
According to Zhang Ming, chairman of the company's upstream company, Xinli Lighting, “In the first half of the year, Europe, the United States, and Japan have all set up patent barriers for China to protect domestic companies.†Zhang Xiaofei, director of the LED Industry Research Institute of Gaogong, believes: “On the one hand, exports are sluggish. On the other hand, the industry is still in a state of overcapacity, and product prices do not rise and fall, resulting in unsatisfactory revenue and net profit for listed companies."
In addition, for the first half of the company to get listed and some companies fail. Zhang Ming believes: "The scale of LED financing should be matched with the size of the company and should not be blindly expanded."
Batteries: Decline in export delivery values ​​Recently, the Ministry of Industry and Information Technology, Consumer Products Industry Division released data showing that in the first half of 2012, China's battery industry accumulated industrial output value increased by 18.5% year-on-year, cumulative production and sales rate was 96.72%, cumulative export delivery value fell by 3.57% over the same period last year . The output value maintained a steady increase, but the export delivery value continued to show a downward trend, and the decline rate increased significantly.
In the first half of this year, cumulative production of lead-acid batteries has increased by 26.5% year-on-year, cumulative production of alkaline batteries has decreased by 9.6% year-on-year, cumulative production of lithium-ion batteries has decreased by 12.3% year-on-year, and cumulative production of primary batteries has dropped by 6.6% year-on-year.
Although the overall performance of the battery industry declined, the performance of several leading listed companies grew steadily. Desai Battery (000049) recently announced the semi-annual report. During the reporting period, the company achieved total operating revenue of 1.232 billion yuan, an increase of 49.52%; the net profit attributable to the shareholders of the listed company was 47,969,600 yuan, an increase of 19.92% over the previous year; basic earnings per share 0.3506 yuan. The company's lead-acid battery production is still growing at a relatively rapid rate. Although the output of lithium-ion batteries and alkaline batteries has decreased, the decline has been significantly reduced, and the reduction in the number of alkaline batteries has been reduced by 9.5 percentage points.
Leading-storage battery leading companies Camel and Fengfan have also released their 2012 semi-annual reports in succession. The net profit of the two listed companies increased rapidly in the first half of the year. According to the data, the net profit of Camel Co., Ltd. (601311) and Fengfan Co., Ltd. (600482) for the first half of the year were RMB 19,201,300 and RMB 4,208,100, respectively, which was a year-on-year increase of 24% and 34.72% respectively. During the reporting period, camel shares achieved operating revenue of 1,784.43 million yuan, an increase of 13.56% year-on-year; Fengfan shares achieved operating revenue of 2,300,005,100 yuan, an increase of 3.49%.
Since last year, the storage battery industry has started environmental protection storms, shutting down a large number of production capacity in the short term, and companies with environmental protection, cost, and scale advantages have expanded production capacity to fill supply-adjusted supply. After the lead-acid battery production threshold is set on July 1, its leading companies will also benefit.
Welding equipment: Demand reduction Recently, according to the “2012-2016 China Electric Welder Market In-depth Survey and Investment Decision-Making Report†released by China Business Intelligence Network, data show that: in the first half of 2012, the country’s welding machine output reached 1,942,800 units, a year-on-year increase. 8.38%. In June, China produced 374,000 sets of welding machines, an increase of 4.16% year-on-year.
The reporter learned from the reports of various listed companies that the net profit attributable to the shareholders of the listed company in the first half of 2012 was a profit of 5,290,200 to 5,847,200 yuan.
Ruiling Co., Ltd. (300514) recently announced its 2012 semi-annual report that during the reporting period net profit attributable to owners of the parent company was 45.8232 million yuan, a decrease of 8.68% from the same period last year; operating income was 378 million yuan, an increase of 7.82 from a year earlier. %; basic earnings per share was 0.21 yuan, a decrease of 4.55% from the same period last year.
Atlantic (600,558) announced the 2012 semi-annual report on August 20 that the net profit attributable to the owners of the parent company during the reporting period was 16.5882 million yuan, a decrease of 30.17% compared with the same period last year; operating income was 1.23 billion yuan, a decrease from the same period last year 4.07%; basic earnings per share was 0.12 yuan, a decrease of 30.23% over the same period last year.
According to the semi-annual report of Ruiling, in the first half of this year, the country’s steel production reached 357.197 million tons, an increase of 1.8% year-on-year, and the growth rate dropped significantly. In the increasingly harsh external environment, the demand of downstream customers in the welding equipment industry has also been greatly affected. The decline in demand for construction machinery and shipbuilding industries is particularly serious. Therefore, the overall performance of the welding industry is unavoidably affected. The process of replacing the conventional welding and cutting equipment with inverter welding and cutting equipment is still in progress. Although its performance is better than traditional welding and cutting equipment, it has become an indisputable fact that the sales volume of a large number of enterprises in the industry has declined. The market demand for automated and semi-automated welding equipment also faces downward pressure in the event of economic downturn.
According to the analysis of Atlantic, the manufacturing industries, such as infrastructure construction, shipbuilding, high-speed railways, mining machinery, and major equipment, which have a large demand for welding materials, have further contracted. The competition in the welding material industry has intensified, and the profits of most companies in the industry have fallen sharply or even suffered losses. . In addition, due to rising costs of raw materials and labor costs such as titanium series, the operating pressure of the company has continuously increased and the gross profit rate of product units has temporarily declined.
According to industry analysts, the average sales price of the welding industry has been on a downward trend, and the average profit of the industry is getting thinner and thinner. The core competitiveness and scale advantages of enterprises have enabled small enterprises with no independent research and development capabilities to have smaller and smaller living spaces, and the number of enterprises will gradually decrease.
Small and medium-sized electric motors: According to the statistics of the China Small Electrical Machinery Branch of the China Electrical Equipment Industry Association, compared with last year, the motor exports in the first half of 2012 were generally more sluggish. The European debt crisis has caused a considerable impact on China's motor industry. The overall unfavorable situation in the export situation may continue into next year.
From the analysis of the trend of motor products, in April, China's motor products had a significant increase, a growth of 25 percentage points, and in May there was a larger drop, the chain fell by 50 percentage points. From the perspective of June, the sales volume of motor products increased by another 32% from the previous month, and the performance in July was also relatively optimistic. The market share also increased relatively, with an increase of 41.4 percentage points from the previous quarter.
From the semi-annual results of the motor listed companies, it can be seen that the industry has experienced a downward trend. Dayang Motor (002249) recently released a semi-annual performance report showing that operating profit margin in the first half of the year was only 7.13%, a decrease of 5 percentage points from last year, and there was no significant change in non-operating income and expenses. Therefore, the decline in operating profitability resulted in total corporate profits. The year-on-year decrease of 32.86%. For the traditional fan load products, the Y5S(L) series and Y6S(L) series are mainly sold for the domestic market, accounting for about 40% of revenue. Since the beginning of last year, there have been different degrees of decline, and Y5S and Y6S have decreased year-on-year. 8.59% and 15.19%.
The net profit attributable to shareholders of listed companies in the first half of Jiangte Motor (002176) increased by 20% to 50% compared with the same period of last year. Affected by the macro economy, sales of motor products have been affected. Affected by the increase of rainwater in the first half of the year, the company’s mining products were affected. Due to the above reasons, the company's overall operating performance did not reach expectations.
Inverter: the most difficult year in the business Recently, Hekang Inverter (300048) released the 2012 semi-annual report. In the first half of 2012, the company realized operating income of 29,999,800 yuan, an increase of 30.05%; operating profit of 45,724,300 yuan, a year-on-year decrease of 14.73 %; The net profit attributable to shareholders of listed companies was RMB 56598.86 million, an increase of 11.27% over the same period of last year. The company achieved 0.17 yuan per share in the first half of the year.
According to company analysis, revenue growth is in line with expectations, mainly from the general high-voltage frequency conversion business. The high-voltage frequency converters are mainly in the stock market and are related to the operating rate of enterprises. The economic impact of the economic deterioration on the high-voltage frequency converter industry is slower than that of the medium- and low-voltage frequency converter industry. The company expects that the revenue growth in the second half of the year is not optimistic.
Recently, Jiuzhou Electric (300040) released its 2012 semi-annual report, showing that the company's operating income was 188 million yuan, a year-on-year decrease of 21.76%, of which high-voltage inverter system operating income was 68.05 million yuan, a year-on-year decrease of 1.75%. The company and Rockwell company signed an asset sale agreement, the sale of the target for the Jiuzhou Electric and high voltage inverter business related assets, the total amount reached 530 million yuan.
It is estimated that the company's high-voltage inverter system has achieved a net profit of about 10 million yuan per year in recent years.
Ying Wei Teng (002 334) semi-annual report shows that the company's total operating income of 333 million yuan, an increase of 11.63% over the same period last year; attributable to shareholders of listed companies net profit of 41.475 million yuan, a year-on-year drop of 27.23%; basic earnings per share of 0.19 yuan.
Relevant persons believe that the macroeconomic downturn and the overall overcapacity have led to a decline in the growth rate of fixed asset investment in the manufacturing industry, which has affected the development of the industrial control industry. In the first half of the year, the inverter business experienced the first decline in recent years, reflecting the current slump in the low-voltage inverter industry as a whole. This year will be a difficult year for all companies in the industrial control industry. Judging from the current development status of the industry, it is expected that the third quarter may still be similar to the first half of the year, and it may be difficult for the fourth quarter to pick up significantly.
Power Tools: Disparity with Foreign Countries Recently, China Business Intelligence Network released power tool data for the first half of 2012, and the output of electric tools across the country reached 120 million units. From a general point of view, there is still a big gap between China's power tool product technology level and foreign counterparts, mainly because of poor product appearance, monotonous appearance, low unit weight output, and incompatibility with electromagnetic compatibility.
In the domestic electric tool market, domestic sales of electric tools have accounted for 90% of total sales, while various imported brands only account for 10% of the market. China has become a global power tool production base. The domestic electric tool market is more discerning about the quality and brand of electric tools. Therefore, electric tools are developing with good quality and good brands.
One of the few domestic listed companies, Ruiqi Co., Ltd. (300216), one of the few listed companies, realized a net profit of RMB27,479,900, a decrease of 23.81% year-on-year. The company stated that the future high-end products will be the key development direction.
Industrial Boilers: Sales Volume Continues to Decrease According to the monitoring data of China Business Intelligence Network, in the first half of 2012, the output of industrial boilers nationwide reached 194,000 tons of evaporation, an increase of 2.71% year-on-year. In June, China produced 47,700 tons of industrial boilers, an increase of 4.53% year-on-year.
According to an industry boiler company, the market is not as good as before, and the market sales in the second half of the year may continue to decrease. According to the semiannual report of Hangzhou Boiler (002534), the company achieved an operating income of RMB 5,349,509,600, an increase of 234.11% year-on-year, an operating profit of RMB 236,233,800, an increase of 13.47% year-on-year, and a net profit attributable to the parent company of RMB 165,109,600, a year-on-year increase of 14.93%. .
According to industry insiders, due to the external economic environment of the country, the investment rate of waste incineration projects has slowed down, and companies have been delaying the execution of orders for waste incinerators, causing revenue to decline.
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