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《Electrical Business》:China testing machine downstream industry is the trend of strong demand for industry consolidation

Number of visits: Date:2011-10-09

Instrumentation industry is industrial machinery equipment in "Pearl", has an important position and role in the national economy and social development. The various sub-sectors in terms of instrumentation, middle and low labor-intensive products will be lower than the industry average growth rate, thermal power, metallurgy and other industries affected by the slowdown in demand for macro-control, but public works, energy saving, environmental protection, recycling economy to demand for automated testing and control equipment generally grow. Currently, under the impetus of strong demand in the downstream industry, the domestic instrumentation industry showed rapid growth, which led directly to industry consolidation prelude slowly opened.

Times Technology (000611) as the most complete varieties of domestic production of portable testing instruments and the largest testing machine manufacturer, recently passed the 3100 private placement shares, raising 182,280 yuan, the company will invest in funds raised for tester R & D projects. With the era of science and technology will raise the smooth implementation of the investment projects while showing a new face, share to the rapid development of the industry boom feast.
   Strong demand in the downstream industry
The rapid growth of the national economy increasingly high demand for automation, instrumentation industry development thus forming a strong impetus; same time, the rise of new industries also boost the rapid development of instrumentation industry. 2006, instrumentation industry realized a total profit of 19.9 billion yuan, compared to 2001 compound annual growth rate of 34%. It is particularly worth mentioning is that from the beginning of 2004, the growth rate of the industry's total profits began to exceed revenue growth, the main factor is to strengthen the scientific and technological development to improve the product mix, while the level of management and economies of scale resulting in production efficiency. The industry believes that good quality instrumentation industry growth trend will continue, the industry expects 2007 profit growth of around 20-25%.

The era of science and technology from 1984 began to intervene in the field of portable intelligent testing instruments, is already the largest in this area, and most all varieties, technologically advanced enterprises, its instrumentation has an absolute advantage in the domestic market, focusing on market share of over 80% . Instrumentation era of technology enjoys a high reputation in the international market, the products have been exported to Southeast Asia, Africa, Europe, America and other dozens of countries and regions, including the United States generic user, Rolls Royce, Volkswagen, Daewoo and other multinational companies . Combination of domestic and international markets considered, the next 3-5 years, the growth rate of the test instrument era of technology around 20-30%. Also, because the company has a number of patents and proprietary technology, significant lead in technology, the market generally believes gross margins of these products can be maintained in the longer term such a high level of around 50%.

From the age of technology in which the test machine industry overall situation: in 2006 industry-wide domestic testing machine sales of about 2.5 billion yuan, sales revenue, gross profit, new product output value and export value in 2001 were 15.6 times , 10.7-fold, 133-fold and 5.5-fold. In recent years, the rapid growth of railways, highways and other industries, greatly boosting the demand for industrial testing machine. Various types of measurement mechanism is a major user of various types of testing machine, rapid vocational education is directly stimulating the demand for the testing machine. At present, China's production of various materials manufacturers and laboratory studies of all 120,000 or more, while the number of test machine has only US-twentieth. Expected to 2010, China's total demand for all kinds of testing machines more than 50 billion yuan, an average annual growth rate of around 20%.

Era of technology previously acquired Jinan Test Group is the test machine industry's leading enterprises, leading products universal testing machine, friction and wear testing machine, spring testing machine, impact testing machine, constant stress cement pressure testing machine output up 1400- 1500, 2006 amounted to 85 million yuan of sales revenue in the domestic like product in the first place. The company's technology and production advantages, has six "only": only won the national silver medal test machine, the only state-level enterprise technical centers, the only test machine production line, the only postdoctoral, the only anti-static automation circuit board production lines, only used in line with European standards of technology to produce lead-free reflow equipment testing machine to measure the controller.

Industry consolidation is the trend
A new industry pattern to experience a recession, turbulence, and the rise of the competition will form a plurality of stages, after surviving firms compete shuffle (with technical innovation, or have the brand and channel advantages) will dominate the industry and market. And a new pattern, once formed, will be stable for a longer period of history.  
  2003, the era of technology acquisition Jinan Test Group, enabling the combination of high technology and manufacturing giant. The era of science and technology in the control system, optical and electrical integration, micro-processing technology advantages, digital technology that can quickly make up for Jinan Test Group disadvantaged; while Jinan Test strong manufacturing capability also makes product updates faster, additional products value increased product value chain extension, which complement each other really produced a "11> 2" effect.

In fact, the "high-tech manufacturing capability" is the positioning era of technology, in its testing machine manufacturing series links the accumulated wealth of technical experience and superb production technology is a wealth era of technology, other companies in the same industry can not be copied.

Moves era of technology is able to grasp the way to go independent intellectual property rights and product replacement for. The era of science and technology will all put into a private placement to raise funds Jinan Test industrial park project to make all kinds of testing machines and related products production capacity increased to 4300 units. After the project is put into production, the company is testing machine production line modernization and further enhanced greatly improve production efficiency, productivity and reasonable expansion, product structure has been optimized, research and development to further improve enterprise technology advantages and scale advantages to further consolidate and expand, continuous innovation capability has been strengthened.  
From the age of technology in which the instrumentation industry, the industry has seen the pattern forming. After completion, the annual sales income of 398 million yuan, the normal annual after-tax profit of 25.24 million yuan, up 13.76 percent of all investment margins, profits reached 36.66%. In the era of technology 216 million of the total share capital, will directly enhance the earnings per share of 0.12 yuan, and the company 2006 annual results for 0.12 yuan. In theory, even without considering the growth of the company's main business, according to their earnings forecasts project that the private placement project is expected to significantly increase the performance of the company in 2006 based on.

"Rapid and healthy development, build first-class enterprises" is the overall development goals era of technology. We have reason to believe, Jinan Test until after the completion of the industrial park, the blueprint for the "World Testing Machine carrier" will be presented before the world.

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