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The so-called "durian man", like durian, looks smelly and sharp on the surface, but in fact it is white and fragrant inside.
Why put machinery and durian man together? Mainly because the small partners have more misunderstandings about the machinery industry. Myth 1: Machinery is the post-cycle of real estate. Myth 2: Machinery is a cyclical industry with limited growth. Myth 3: the price increase of raw materials will greatly reduce the profit of the industry. Myth 4: The future growth rate of machinery industry is difficult to maintain. The following is to eliminate the misunderstandings of the machinery industry for the friends.
When it comes to machinery, you may think of excavators, bulldozers and so on. The full name of mechanical industry is actually mechanical equipment, which is a middle-reaches industry connecting the preceding with the following; It can be said that all downstream industries are inseparable from processing and manufacturing, which requires the use of machinery and equipment. From manufacturing mobile phone chips to batteries for new energy vehicles, to manufacturing buildings and high-speed rail, machinery is indispensable.
However, it is a misunderstanding that small partners tend to closely link machinery with the real estate industry. Take the CSI Subdivision Machinery and Equipment Index (0008 12. CSI), for example, there are many sub-sectors. Traditional industries and emerging industries are basically semi-open, and emerging industries with growth, such as lithium battery equipment and photovoltaic equipment, occupy the main weight.
Data source: wind, as of 20212/26, compiled by Guo Sheng Machinery Team.
Risk warning: Affected by the price fluctuation of constituent stocks and the adjustment of index constituent stocks, the industry proportion will fluctuate.
There is also a misunderstanding among general small partners, that is, the traditional machinery industry is a cyclical industry with limited growth. Take the construction machinery with large weight as an example, in fact, it has shown a strong growth attribute in recent years, mainly in the trend of continuous improvement and acceleration of market share concentration. Even in 2020, due to the global COVID-19 epidemic, the demand for overseas construction machinery market has shrunk dramatically, but the internationalization of domestic construction machinery enterprises has made positive progress, achieving substantial growth against the market, achieving rapid growth in Southeast Asia, Sany USA, Sany Europe and Africa, and the export growth rate has greatly exceeded expectations.
Why do machines look like durians? If we put aside the superficial misunderstanding, we can see that the recent industry performance and index performance are very bright. Empty talk is not evidence, but performance is evidence. Look at the latest quarterly report, and the net profit of the machinery and equipment index (0008 12) is subdivided by CSI. In the first quarterly report, CSI increased by 78.8% and 76.7% respectively compared with last year and the year before. Traditional industrial machinery and emerging industrial machinery are working together, and the industry is booming.