Earnings improved auto parts
| Time：2014.05.03 Come：Yuhuan Qifeng Machinery Co., LTD View： |
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The difference is that the second half of last year in the energy market and car purchase tax preferential policies to stimulate sales growth next exit and large-than-expected rebound quickly, while some companies after two quarters of this year lowered earnings expectations may exist, in addition, the policy has been oriented differentiation of different industry segments become more apparent.
1, passenger car: market timing is more important than stock selection, the subject of high-quality companies. June-August to benefit from Japanese to resume production, compared with the base is not high, narrow passenger car sales growth data is good, while high-quality corporate reporting the results of high uncertainty situation: the existence of high-quality passenger car business opportunities for off-season game. The risk is that demand has not improved, increasing competition.
2, medium and large passenger: From the industry point of view attributes, medium and large passenger periodic weak relative to other sub-sectors, the cost impact is relatively small, steady demand for support factors that can breed as a defensive attention.
3, heavy truck: This year, the heavy truck industry is facing greater pressure, but sales improved year on year and sequential phased likely to buy, we estimate about a possible point in time in September. Further implementation of the "Road Safety Protection Regulations," the industry needs to bring much good tight track.
4, core components: Considering the automotive industry's largest merger and reorganization may occur in the core automotive components, and then consider whether Automobile Group, long-term concern Wanliyang, Weifu.
Judging from the current level of profitability level of the economy, the current growth rate of decline in the automotive sector, unable to pass on rising costs of the case; from fluctuations in growth, profit and inventory cycles to determine the fluctuation, the |
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