A-Share Listed High and Low Voltage Equipment Companies - Profiles and Financial Data
Electrical equipment includes generator, transformers, circuits and circuit breakers in the electrical system. They can be classified into high-voltage equipment and low-voltage equipment. High-voltage equipment is 1000v or above while low-voltage equipment is 1000v below.
Steel and non-ferrous metal are major materials in the electrical equipment manufacturing industry. In recent years, material costs have been reduced given lower material prices. However, the industry is still faced with increasing labor costs, land costs and other operational costs.
In 2015, completed investment in power generation projects were CNY 364.6 billion, down by 1.91% YOY. The investment in the development of hydro-power, thermal power and nuclear power were CNY 96 billion, CNY 95.2 billion and CNY 56.9 billion, down by 22.95%, 2.46% and 6.57% YOY, respectively. Newly installed capacity was 103.5 million kw, increasing by 10.11% YOY. During the same period, completed investment in power grid was CNY 411.8 billion, a YOY increase of 5.75%, forming a strong support for the demand for major power transmission and transformation products.
In 2015, the power generation efficiency fell slightly and the growth of the demand for power slowed down. Total consumption of power was 5.55 trillion kwh, up by 0.5% YOY. The utilization of power generation facilities declined due to slowed growth of power demand. Accumulated average utilization time of facilities at plants of 6,000 kw and above was 3,969 hours, down by 349 hours YOY. Weaker demand for power will affect the demand for electrical equipment.
According to CRI analysis, China's high voltage equipment and low voltage equipment industry will keep growing in the next few years. In the time of energy scarcity, the development of power generation is prioritized. If supply is sufficient, industries closer to the user end will develop faster and achieve greater added value.
In this report, CRI analyzes 17 high voltage equipment and low voltage equipment manufacturers listed in A-share market 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
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