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Neway PK CNNC, who is the "king of valve manufacturing"?

 Last Update: 2021-10-01
 Source: Internet
 Author: User

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【Star Enterprise of Chemical Machinery and Equipment Network ] Major listed companies in the industry: Neway (603699), China Nuclear Technology (000777), Weilong Stock (002871), Jiangsu Shentong (002438), South Valve (833678), Huvalve Holdings (835141) , Zhejiang Linuo (300838)

Star Enterprise of Chemical Machinery Equipment NetworkMajor listed companies in the chemical machinery and equipment industry:

The core data of this article: Neway shares and China Nuclear Technology's valve output, production and sales rate, etc.

The core data of this article:

1.
Neway VS China Nuclear Technology: Corporate Development History

Valve manufacturing is an important part of China's manufacturing industry and has important applications in the fields of electric power, petrochemical, water treatment, and metallurgy
.
At present, my country's listed valve manufacturing companies in Neway and China Nuclear Technology are relatively large.
The development history of the two companies is as follows:

In terms of establishment time, CNNC was established earlier.
Its predecessor, Suzhou Valve Factory, was first established in 1952, while Neway’s predecessor, Suzhou Neway Machinery, was established in 1998
.

　　2.
Layout and operation status of valve manufacturing business

　　——Valve output: China National Nuclear Technology is catching up

　　Judging from the valve output of the two companies, in recent years, China Nuclear Technology's valve output has continued to increase, while Neway shares are subject to a series of factors such as the market, and the output has fluctuated
.
As of 2020, the output gap between China National Nuclear Technology and Neway is the lowest in the past five years, and China National Nuclear Technology’s output is 92.
55% of Neway’s output
.

　　——Production-sales ratio: China Nuclear Suval and Neway are not much different

　　From the perspective of production and sales rate, since most companies in the valve industry use the method of sales and production for each year's work arrangements, the production and sales rates of the two companies are not much different, both hovering around 100%
.
In the five years from 2016 to 2020, the average production and sales ratios of China Nuclear Technology and Neway are 98.
10% and 96.
96%, respectively
.

　　——Gross profit margin: Neway shares have better profitability

　　From the perspective of corporate profitability, Neway's profitability has a certain degree of advantage over China National Nuclear Technology
.
Judging from the gross profit margin of the past five years, the gross profit margin of the two companies has maintained a trend of first rising and then falling, but the gross profit margin of Neway shares is higher than that of China Nuclear Technology by 14.
11 percentage points on average
.

　　——Product structure and application fields

　　From the perspective of both product types and downstream application industries, the main product types of CNNC and Neway are relatively similar.
Globe valve ,Common types of valves such as check valves are the main ones
.
From the perspective of downstream application industries, there is a large gap between the downstream application industries of the two companies
.
The downstream of CNNC is mostly nuclear engineering, public engineering and other fields, while Neway shares focus on oil and gas, chemical and other fields
.

Shut-off valveCheck valve

　　3.
Comparison of valve manufacturing performance: Neway shares lead in operating income

　　From the perspective of valve manufacturing operations, Neway's operating income has been higher than that of China Nuclear Su Valve in recent years, and the growth rate is also significantly higher
.
In 2020, Neway’s operating income was 3.
426 billion yuan, compared with CNNC’s operating income of only 1.
143 billion yuan, which is 33.
36% of Neway’s
.

　　4.
Forward-looking view: Neway and China National Nuclear Technology Co.
, Ltd.
encourage my country's valve manufacturing industry

　　Although China Nuclear Technology has a large gap in operating income from Neway, considering the large differences in the downstream target industries of the two parties, the two parties do not constitute direct product competition, but have achieved the top domestic level in different valve manufacturing fields
.
Therefore, Qianzhan believes that Neway and China Nuclear Technology have their own advantages in the valve manufacturing industry
.

　　For more industry-related data, please refer to the "China Valve Manufacturing Industry Market Outlook and Investment Strategic Planning Analysis Report" by the Qianzhan Industry Research Institute.
At the same time, the Qianzhan Industry Research Institute also provides industrial big data, industrial research, industrial chain consulting, industrial map, industrial planning, Solutions such as park planning, industrial investment promotion, IPO fundraising feasibility study, and prospectus writing
.

　　Original title: dry goods! Comparison of Chinese valve manufacturing industry enterprises in 2021: Neway shares PK China Nuclear Technology, who is the "king of valve manufacturing"?

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