Machine parts factory is better than wind power industry chain differentiation
While state support is still one of the new energy industry, wind power industry, industrial chain have emerged since the end of this year’s division. This reporter recently learned from the industry, due to the cost of raw materials and parts supply bottlenecks, wind power machine makers have squeezed much bargaining power greatly diminished. At the same time, the benefits of wind power components factory much better results. As for some wind power equipment makers are facing new entrants to survive greater pressures.
KGI pointed out that from the first half earnings, the current Blower Factory product margins are generally squeezed, squeezing forces from the raw material cost pressures and spare parts supply bottlenecks, so Blower Factory bargaining power greatly diminished. Which, 1.5MW Dongfang Electric fan only margin appearing to be picking megawatt machine, which is mainly due to economies of scale and spare parts is also localization. Goldwind 1.5MW fan in the first half without a scale of production, gross profit margin is far from satisfactory.
“Compared to the hard work machine factory management, parts plant operational efficiency significantly better. as key components of wind power in the first half - bearing factory, gear box factory, leaf plants have more than 50%, respectively, 25-30% and 25-30% of the high gross margins. “analyst Wang Zhilin said.
departure from the usual industrial inertia, with the wind farm project bargaining power of enterprises, followed by machine factory, and finally parts factory. In Wang Zhilin view, the bargaining power of the parts occurred this year beyond the machine parts plant phenomena and the needs of the production bottlenecks and pseudo.
“We believe that, the whole plant eventually will regain bargaining power. In addition to a number of new entrants, parts manufacturers, the machine factory has big to get bigger trend. Therefore, apart from a few key components such as spindle bearings, the machine factory the bargaining power eventually will overtake parts factory, but this time point except for the speed-related upstream and downstream parts plant expansion, the steel, iron, copper and other price trend is also cause for concern. currently only trend down copper, steel and pig iron is still high-ranking, we believe that machine factory cost pressures will continue until the first half of 2009. “Wang Zhilin said.
electrical equipment industry, CITIC Securities chief analyst Liu Lei believes that the domestic supply situation in parts of wind power will go to 09-10 years for “partial” improvement. By then, leaves, generators, etc. increase in the number of suppliers and capacity release, will make fans part of the spare parts supply and demand relations have improved, in some parts and even an oversupply situation. The bearings, gear box manufacturers are in the next two years, a relatively large capacity expansion, incremental expansion will give priority to the domestic large enterprises leading machine, which some manufacturers will give priority to enjoy the wind power industry chain, the fruits of development .
the other hand, this year, China Blower Factory Hengqiang strong trend is also becoming increasingly clear that Huarui wind power, Dongfang Electric and Gold Wind Science and Technology three-horse race for new entrants to survive have a greater pressure on the industry. Wang Zhilin pointed out that the industry because of new entrants into the main power initially, but with no group and no economies of scale in purchasing supplies and is also relatively weak, while the small and medium sized wind farm investors, subject to the current round of macro-control implications, wind investment projects often appear was forced to delay the case, coupled with the existence of private enterprises in itself a lack of financing channels of the dilemma, all of them facing greater pressure to operate. “We believe that new entrants will be required to take the difference in the industry a chance to break the siege of the road.”
In Liu Lei view, the real sector in the future to survive the process of concentration towards the inevitable growth is to have full awareness of risk, the size of pre-emptive advantage and the ability of independent innovation and leading firms in the final win of the local enterprises will not be more than 5, only remain in the conceptual or early stage the vast majority of the many latecomers will be eliminated by the market.
机械配件厂是比风力发电产业链分化
虽然国家的支持仍是新能源产业，风力发电产业，产业链的一个自今年的分裂的结束出现了。这是记者日前从业界获悉，由于原材料和零部件供应瓶颈，风力发电设备制造商的成本有挤压很大的谈判能力大大削弱。同时，风力发电元件厂的效益更好的结果。至于一些风力发电设备制造商正面临着新进入者的生存更大的压力。
凯基证券指出，从上半年的收益，目前风机厂产品利润率一般挤压，从原材料成本压力及备件供应瓶颈挤压力量，风机厂议价能力大为减弱。其中，1.5MW风机仅东方电气利润将出现复苏兆瓦机，主要是由于规模经济和备件也是本地化。金风1.5MW上半年无风扇的生产规模，毛利率远远不能令人满意。
相比机械厂辛勤工作的管理，零部件厂运营效率显着改善“作为风力发电的关键组成部分，在上半年。 -轴承厂，齿轮箱厂，叶植物50％以上，分别为25-30 ％和25-30％的高毛利率。“分析师汪之临说。
由一般的工业惯性出发，与风电场项目由机械厂其次企业，并在最后配件厂的议价能力。在汪之遴认为，部分议价能力，今年发生超出了机械部件厂现象和生产瓶颈和伪的需要。
“我们相信，全厂最终将重新议价能力。除了新进入者数量，零件制造商，机器厂大者恒大的趋势。因此，除了少数关键部件如主轴轴承，该机械厂的议价能力，最终将取代配件厂，但除了速度相关的上游和下游部分工厂扩张，钢，铁，铜等价格走势的时间点，这也令人担忧。目前仅下降趋势铜，钢和生铁仍是高级别，我们认为，机械厂的成本压力将持续到2009年上半年。“汪之辚说。
电气设备行业，中信证券首席分析师刘累认为，在风力发电零部件国内供应形势将继续为“部分”改善09-10岁。届时，树叶，发电机，供应商的数量和能力等释放的增加，将使球迷的备件供应和需求关系的组成部分已得到改善，在一些地区，甚至供过于求的情况。轴承，齿轮箱制造商在未来两年内，在相当大容量的扩大，逐步扩展将优先考虑国内领先的机器，一些制造商将优先享受风力发电产业链的大型企业，发展的成果。
另一方面，今年中国风机厂恒强强烈的趋势也日益明显，华锐风电，东方电气和金风科技三马为新加入的比赛有一个生存的行业更大的压力。汪之秘指出，进入电力行业，主要是因为新进入者开始，但由于没有组和物资采购的规模不经济，也相对薄弱，而中小型风电场投资者，受此轮对宏观调控的影响，风投资往往出现的是被迫推迟的话，与自身存在的民营企业的融资渠道缺乏的困境，他们都面临着更大的压力，再加上经营项目。 “我们相信新进入者将需要采取不同的行业有机会打破封锁的道路。”
在刘酹认为，在未来真正的行业生存的必然增长对浓缩过程是有风险的充分认识，学前教育规模先发制人的优势和自主创新能力和领导企业在最后赢得当地的企业不会超过5个，只停留在概念上或早期的许多后进的绝大部分将被市场淘汰。08.9.28
Tags: factory, parts, power, wind