Electronic devices determine the development level of the inverter industry

Under the background of rapid economic development in the past few years, China has become the world's largest power electronics market. In the future, this development trend will continue unabated. The government is promoting the infrastructure, power grid renovation, new energy industry development and electric vehicles and other projects, which will bring more room for the development of power electronics.

Similarly, power electronic devices also determine the level of development of the entire inverter industry. The inverter products, which are energy-saving tools, are optimized through the use of more advanced power electronics, which also helps users to maximize energy-saving technologies in practical applications. Power device IGBTs and electrolytic capacitors are the two main power electronic devices that are mainly used in inverters. From the perspective of the cost structure of inverters, the sum of the two costs accounts for nearly 40% of the cost of low- and medium-voltage inverters, and in high-voltage inverters. The proportion of power electronic components such as IGBTs is even higher, reaching 50%.

Since it is an important part of the inverter's product composition, inverter manufacturers are very cautious about the purchase and selection of power electronic components. In today's ever-changing power electronics technology, inverter manufacturers can keep up with the pace of power electronic devices and improve the application level of power electronics technology. Since the media hopes to serve as a bridge, it will cooperate with many excellent power electronics manufacturers at home and abroad to jointly build China. The new platform of the inverter industrial chain -- the display platform of the power electronics integrated solution, focuses on the power electronic devices used in inverters, including power supplies, resistors, electrolytic capacitors, and IGBTs. By this way of cooperation, the company will jointly disseminate advanced power electronic technologies at home and abroad, enhance the corporate brand image, and provide convenient product selection and procurement services for many inverter manufacturers.

According to the latest data, China's Manufacturing Purchasing Managers Index (PMI) was 50.3% in July, a slight increase of 0.2% from the previous month. For construction machinery companies, the business tax is subject to levy of value-added tax (referred to as “Camp”). The increase in urban infrastructure construction and the blowout of railway plans in the second half of the year will be the three most interesting recent news.

Railway construction or will accelerate the resumption of construction machinery

The impact of railway construction on the construction machinery industry is obvious. Although the rumors of accelerating the construction of the railway have continued, it was only after the State Council executive meeting was convened on July 24 that the plan to restart the railway construction in a large scale was settled. The meeting studied and deployed the reform of the railway investment and financing system and further accelerated the construction of railways in the central and western regions. According to the planning of the State Council, the investment in railway fixed assets will be increased from 650 billion yuan this year at the beginning of the year to 690 billion yuan. In the next two years, the total investment will be 1.4 trillion yuan. At the same time, new projects started in 2013 were adjusted from 37 to 47.

The executive meeting of the State Council also explicitly pointed out that it is necessary to “raise funds for construction through multiple channels, use central financial funds as the guide, attract social capital, set up railway development funds, and innovate the varieties and methods of railway bond issuance. To local and social capitals. The ownership and operation rights of the intercity railways, municipal (suburban) railways, resource development railways, etc. shall be opened." Sources said that the railway investment and financing system reform plan will be reported to the State Council by the end of September and is expected to be introduced by the end of this year.

Urban Infrastructure Assistance: One of the Important Factors in Promoting the Development of Construction Machinery

Infrastructure construction has always been one of the most important factors driving the development of the construction machinery market. In 2008, the State Council’s 4 trillion economic stimulus package almost made a qualitative change in the Chinese construction machinery market. The vast majority of projects are transport infrastructure. As the main investment direction. It is almost certain that the Chinese construction machinery market will usher in a new period of rapid development. After experiencing the pain of “four trillion”, the construction machinery industry will usher in more rational development.

Premier Li Keqiang of the State Council presided over the executive meeting of the State Council on July 31 to study how to promote the government to purchase public services from the social forces and deploy and strengthen urban infrastructure construction. The meeting identified the following key tasks: First, strengthen the construction and transformation of municipal underground pipe networks. Improve water supply facilities in cities and towns and improve urban flood prevention capabilities. The second is to strengthen the construction of sewage and domestic garbage treatment and recycling facilities. At the end of the “Twelfth Five-year Plan”, the harmless treatment rate of urban sewage and domestic garbage reached 85% and 90%, respectively. The third is to strengthen the transformation of old gas and heating pipe networks. By 2015, it will complete the task of reconstructing the old pipe network for centralized heating of 80,000 kilometers of town gas and nearly 100,000 kilometers of northern heating areas. The fourth is to strengthen the construction of large-capacity public transportation systems such as subways and light rails, and enhance the connectivity, accessibility, and convenience of urban road networks. Accelerate the construction of walking and bicycle "greenways" in city-wide cities. Do a good job in urban bridge safety testing and reinforcement and transformation to ensure traffic safety. Fifth, strengthen the construction of urban distribution networks and promote the intelligentization of power grids. Sixth, we must strengthen the ecological environment, increase the ability of urban green spaces to store floods, drain water, and supplement groundwater.

Gain reform: increase the separation of main and auxiliary construction machinery enterprises

From August 1st onwards, the business tax reform pilot “Vesting Point” of China’s tax system reform will be officially promoted to the whole country, and the scope of pilot reform for the transportation industry and some modern service industries will expand from the current 12 provinces and cities to the whole country. This marks the gradual deepening of the reform of the reform of the camp and the realization of "double expansion" of the region and the industry, and further intensifies the reform.

The main role of the CBRC is to avoid double taxation and reduce the burden on enterprises. This reform will have a profound impact on economic development. Although it seems that the main beneficiaries of the CBV are the tertiary industry, it will promote scientific development. The promotion of economic restructuring and changes in the mode of economic development will also have major strategic significance.

In order to reduce operating costs, many construction machinery companies have to bundle their operations in logistics, information, and other auxiliary businesses while doing a good job of the main business. This has increased the operating pressure of the company. For the construction machinery industry, the increase in operation will bring about a huge "spillover effect." After the reform, the original auxiliary businesses of construction machinery companies can set up separate companies for logistics and informatization, not only to continue to serve the main industry, but also to After the self-financing of the auxiliary industry, it will likely generate greater vitality. “Zhan GaiZengZeng” promotes the development of service industry, especially modern service industry, accelerates the separation of main and auxiliary construction machinery enterprises, changes the “Olive type” corporate structure of existing construction machinery enterprises into “dumbbell type”, and opens up the value of the secondary and tertiary industries. The tax offset chain promotes the professional division of labor in construction machinery companies, enlarges and strengthens R&D and marketing, and moves the industrial level from the low end to the high end.

For construction machinery companies, the addition of the business reforms has brought about direct impacts such as corporate restructuring, and the signals released by the new round of comprehensive reforms seem to be more noticeable.

Recently, Oshkosh Corporation released the financial report for the third quarter of fiscal year 2013 (the fiscal year 2013 began in October of last year). The report shows that Oshkosh Group's profit almost doubled, thanks in large part to its high-altitude operation – global Leading aerial platform manufacturer Jerger's business growth.

According to the third quarter financial report, Jirga is Oshkosh Group's best-selling business unit in the quarter, with sales increased by 15.6% compared to the same period of last year, reaching US$ 941.5 million. Its operating income soared 75.1% year-on-year to US$154.5 million, and its operating margin improved from 10.8% in the same period last year to 16.4%. The company’s sales growth has been attributed to the growth in demand resulting from the replacement of old and new products in the North American market, as well as the earlier announced measures to increase product prices and improve after-sales services.

The financial report also showed that with the promotion of good sales performance of Jirga, this quarter's Oshkosh Group's net profit increased from $77.1 million in the same period last year to $148.4 million, and earnings per share rose from $0.84 to $1.67.

Charles Szews, Chief Executive Officer of Jesse’s parent company Oshkosh Group, said: “We performed very well during the quarter. In particular, our MOVE strategy has contributed to our sales. Our progress during the quarter has made us more With confidence, we believe that we can achieve our earnings target for FY2015.” Oshkosh Group's MOVE strategy is a global strategy that is based on the objectives of market recovery and growth, optimized cost and capital structure, value innovation, and expansion of emerging markets.

About JLG

The United States JLG (JLG) Co., Ltd. is a subsidiary of the Oshkosh Group, a listed company in New York, and the world's largest manufacturer of aerial work platforms. It mainly produces different types of arm-type aerial work platforms, boom-type aerial work platforms, scissor aerial work platforms, forklifts and other products. It has production bases in Europe, the United States and China, and operates in four continents.