1. The aerospace industry, energy-saving and environmental protection equipment, and cold chain equipment are booming

The boom of construction machinery is down, but the small cycle is up; the mid-cycle boom in shipbuilding is down; the boom in coal machinery continues; the boom in aerospace and defense is going up; the boom in railway equipment will go down and down; the boom in nuclear power equipment will go down; the boom in agricultural machinery, water conservancy equipment, energy conservation and environmental protection will go up; The cold chain equipment industry is booming.

  2. Portfolio: Join Ruiqi shares this week

　　Large market value (Zoomlion, Sany, China Heavy Industry, Aerospace Information, Tiandi Technology, CIMC)

　　Medium market value (Hangyang, Dunan Environment, Shanghai Mechanical and Electrical, China Satellite, Shenyang Machine Tool)

　　 Small market value (Ankai Bus, Leo, Robot, Zhanghuaji, Ruiqi, AVIC)

　　 We believe that Ruiqi shares professional-grade electric tools import substitution and industry integration space is large; 2011-2012 performance is 0.55 yuan, 0.75 yuan, 1.0 yuan, and the reasonable value range is 18-22 yuan.

　　3. This week focuses on the themes of aerospace, military, new energy, and water

Continue to be optimistic about the aerospace and military industry: We believe that defense products are facing accelerated technological upgrades and key components have entered the forced autonomy stage. We continue to be optimistic about the accelerated growth and asset restructuring opportunities faced by listed military industry companies, and recommend key companies in the engine, satellite and information fields .

　　 Focus on: China Satellite and Aerospace Information, AVIC, AVIC Optoelectronics, China Heavy Industries, etc.

　　 New energy bus and key components: Ankai bus.

　　 Water conservancy equipment: Thematic investment opportunities: Leo shares, Dayu save water.

　　 We believe that Leo's valuation this year is less than 30 times, which is the lowest in the water conservancy equipment sector. In the future, with additional issuance meetings, industry chain integration, specific planning and formulation of orders, performance will increase significantly.

　　 Construction machinery: The impact of possible purchase restrictions in second- and third-tier cities on real estate investment needs to be observed. The decline in railway investment growth due to the impact of railway operation events will reduce the demand for construction machinery.

　　 4. Last week's survey and report

　　Last week survey: We surveyed Ruiqi shares last week. Mechanical hardware

　　Report: In-depth report on the bearing industry, comments on the approval of the Hong Kong stock issuance of Sany Heavy Industry, comments on the interim report of Ankai Bus, comments on the interim report of Lanke Hi-tech, and comments on the interim report of Hangyang.

　　 5. Comments on stock price changes

　　1. The weekly gains of Aerospace Information, Ruiqi, and Lanke High-tech were 6.8%, 11.2%, and 13.69% respectively, which far outperformed the broader market index over the same period. We think there is still room for the current share price.

　　2. The stocks with good performance in the interim report significantly outperformed the industry indexes, such as Dalian Cold and Qinchuan Development. We continue to track and believe that there is still room for the stock price.

　　 6. Earnings forecast and rating adjustment

　　 Increased the profit forecast of Zhongding on August 28

　　7. Plan to investigate and roadshow next week:

　　Shanghai Electromechanical August 31

　　 8. The latest attention and reminder:

　　Focus on the energy and chemical equipment sector: Longhua Heat Transfer (300263) will be listed soon

　　能源化工设备板块目前已经具备张化机(煤化工设备)、蓝科高新(石化设备)、富瑞特装(天然气设备)等代表性企业，以及杭氧股份、陕鼓动力等空分设备、压缩机设备企业。近期又将有一家煤化工、石油化工冷却器生产企业隆华传热(300263)即将上市。我们认为，能源化工行业未来发展前景看好，相关装备企业(尤其是拥有“节能”、“节水”产品的企业)面临较大发展机遇。