The Zhitong Finance App learned that in 2024, new quality productivity and new industrialization will become high-frequency hot topics in policy and industry. This year's government work report proposes vigorously promoting the construction of a modern industrial system and speeding up the development of new quality productivity. Give full play to the leading role of innovation, promote industrial innovation through scientific and technological innovation, accelerate new industrialization, increase total factor productivity, continuously shape new momentum and advantages for development, and promote a new leap forward in social productivity. This year's government work report “sets out industrial priorities” to accelerate the development of new quality productivity and promote the development of new industrialization.
Yesterday (April 16), three departments including the State Financial Supervisory Administration once again issued the “Notice on Deepening Financial Services in the Manufacturing Industry to Help Promote New Industrialization”. The “Notice” consists of 17 measures, which clarify the general requirements for financial services in the manufacturing industry. Focusing on key tasks of financial support for the construction of a manufacturing power and promoting a new type of industrialization, the “Notice” puts forward work requirements for improving financial services in the manufacturing industry in terms of optimizing financial supply, improving service systems, and strengthening risk prevention and control.
According to reports, new industrialization has the following three characteristics: high-end, traditional industrialization includes many low-value-added products, while the goal of new industrialization is to achieve high-end product quality, intensive production processes, maximize production efficiency, and promote industrial upgrading and product innovation; new technological elements such as intelligence, the Internet of Things, big data, and artificial intelligence have profoundly changed industrial forms, production methods, and organizational forms of industrial enterprises, and promoted the transformation of traditional industries to intelligent manufacturing; greening. Traditional industrialization generally has “production efficiency” as the primary goal, while the new industrialization emphasizes improving production efficiency while improving production efficiency , pay more attention to ecological environment protection and protection of workers' rights and interests, focus on sustainable social development, and create long-term dynamic value.
According to data from the Ministry of Industry and Information Technology, in 2022, China's high-tech manufacturing and equipment manufacturing industries accounted for 15.5% and 31.8% of the added value of industries above scale, respectively, and 65 manufacturing enterprises were included in the list of the world's top 500 enterprises. A total of 12,000 national-level specialized and innovative “little giant” enterprises and 103,000 provincial-level specialized and innovative enterprises have been cultivated. China has a huge market, a complete industrial system and complete supporting capabilities. Firmly promoting new industrialization, it will continuously enhance new momentum for industrial development.
Zheshang Securities pointed out that there is an inseparable relationship between new industrialization and new quality productivity. Both are mainly technology-based productivity, breaking away from traditional industries to achieve high-quality development and integrate digital industrialization. Shen Wan Hongyuan said that the new type of industrialization is the direction of implementation of new quality productivity, focusing on the direction of industrial software. New quality productivity represents the direction of evolution of advanced productivity. It is an advanced productivity quality spawned by revolutionary technological breakthroughs, innovative allocation of production factors, and deep industrial transformation and upgrading. In particular, the widespread application of non-physical production tools such as the industrial Internet and industrial software has greatly enriched the forms of expression of production tools, and promoted the transformation of manufacturing processes from large-scale production to large-scale customization.
In terms of investment opportunities, Cinda Securities suggests continuing to focus on new quality productivity and policy-driven main lines, focusing on promoting new industrialization, with energy saving and carbon reduction, ultra-low emissions, safe production, digital transformation, and intelligent upgrading as important directions, focusing on key industries such as steel, non-ferrous, petrochemical, chemical, building materials, electricity, machinery, aviation, shipping, textile, electronics, etc.: 1) The machine tool industry has opportunities for upgrading; 2) The 2024 Central Committee paper proposes “vigorously implementing agricultural machinery equipment shortfall repair actions to improve agricultural machinery procurement and application policies. There is a large demand for replacement in China's agricultural machinery industry; 3) There is demand for replacement of domestic construction machinery; 4) in terms of new productivity, focus on machine replacement and robot industry chain opportunities under the trend of domestic substitution; 5) Other industries are booming, and there may be alpha stocks.
Related concept stocks:
Digital software:
China Software International (00354): In 2023, the company achieved revenue of 17.117 billion yuan. The company signed a comprehensive strategic cooperation agreement with Shenzhen Smart City Technology Development Group Co., Ltd. to help Shenzhen build a digital economy highland with added value for trillion-level core industries driven by innovation and digital empowerment.
Machine tools:
Tsugami Machine Tool China (01651): The company is mainly engaged in the manufacture and sale of CNC high-precision machine tools. The company mainly supplies a series of TSUGAMI brand CNC high-precision machine tools to manufacturers in various industries such as IT and electronic products, automobiles, medical equipment, pneumatic components manufacturing, and construction machinery. The company's CNC high-precision machine tools can be roughly divided into five major product categories, namely precision automatic lathes, precision turret lathes, precision machining centers, precision grinders, and precision wire rolling machines. The company sells its products in domestic and international markets.
Agricultural machinery:
First Tractor Co., Ltd. (00038): The company's main business is R&D, manufacturing and sales of agricultural machinery, power machinery and parts products.
Bots:
Sany International (00631): Sany Robotics Technology Co., Ltd., a subsidiary of the company, came into being in the context of Sany Group's comprehensive promotion of the digital transformation of intelligent manufacturing. The company is mainly engaged in the development and manufacture of intelligent industrial robots, integrated application equipment for industrial automation and robots, driverless technology, and software and hardware for their related applications; manufacturing industrial robots, special robots, etc.