Differentiation highlights the need to stabilize t

In the cold winter, the differentiation is prominent. What does the environmental protection industry rely on to stabilize in 2019

from market Carnival to capital cold wave, the environmental protection industry in the past year was a little "cold". portant; word-wrap: break-word ! important; "> 2018, with frequent policies and increased supervision, is also a winter year for the environmental protection industry chain. Data statistics show that nearly 50% of the 70 listed environmental protection enterprises that have published the relevant announcement (preview/Express) of 2018's performance have decreased year-on-year, and their net profit has fallen by more than 80% year-on-year.

portant; word wrap: break word! Important;"/>

portant; word-wrap: break-word ! important; ">

portant; word wrap: break word! Imp therefore, if we meet this condition, we usually adopt 10kN microcomputer controlled electronic universal experimental machine to establish the best interactive platform for enterprises in the industrial chain at all levels! Important;"/>

portant; word-wrap: break-word ! important; "> from the market Carnival to the capital cold wave, the environmental protection industry in the past year was a little cold. In 2018, the Shenwan environmental protection index fell by nearly 50% throughout the year, and the decline was more obvious in various industries.

portant; word wrap: break word! Important;"/>

portant; word-wrap: break-word ! important; ">

portant; word-wrap: break-word !important;"/>

portant; word-wrap: break-word ! important; "> What's wrong with this industry? We can see one or two from the financial reports of listed companies. According to the relevant announcements (preview/Express) on 2018's performance issued by Listed Companies in the environmental protection sector Among them, half of the profit growth was negative, and the net profit fell by more than 80% year-on-year. In addition, according to the sample of Listed Companies in the environmental protection engineering and service industry selected by Soochow Securities Research Institute, as of January 31, 2019, the performance forecast of 68 companies has been disclosed, and the performance growth rate in mid-2018 decreased by nearly 91.04% year-on-year in 2017, and 51.97% month on month in the first three quarters of 2018

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;">

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;"> According to the classification of business models of environmental protection enterprises, the signs of differentiation are also significant. Due to the PPP business environment, the overall profit growth rate was significantly lower than that in the high outbreak period of PPP mode in the same period last year. In the context of the national reduction of leverage to resolve financial risks and the rectification of PPP project risks, bishuiyuan estimated that the net profit attributable to shareholders of Listed Companies in 2018 was 1.255 billion yuan, 1.757 billion yuan, a year-on-year decrease of 30% and 50% over the previous year. The annual performance forecast of Wanda released on the same day shows that it is estimated that the net profit loss attributable to shareholders of Listed Companies in 2018 will be 75 million yuan and 80 million yuan, a decrease of 124.56% and 126.20% over the same period last year

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;">

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;"> But at the same time, some listed environmental protection enterprises still achieved good performance growth. By optimizing business strategies, strictly controlling order quality, strengthening project risk management and control, actively promoting project construction, increasing payment collection efforts and a series of other work, Bosch continued to deeply cultivate industrial wastewater treatment, municipal sewage treatment, water restoration, soil remediation and other fields, and completed the counter attack in 2018. Bosch estimated that the net profit attributable to shareholders of Listed Companies in 2018 was 213.254 million yuan, an increase of 45.00% and 73.00% year-on-year

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;">

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;"> The same eye-catching performance of Willy and Zimu technology. The former achieved a net profit of 208.25 billion yuan attributable to shareholders of Listed Companies in 2018, an increase of 50% and 80% year-on-year. The latter estimates that the net profit attributable to shareholders of listed companies will be 17.022 billion yuan in 2018

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;">

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;"> In the current situation of deleveraging, coupled with tight cash flow, it is indeed difficult to achieve the rapid growth in previous years. According to senior industry sources. Coupled with the sudden changes in the market, the previous aggressive mergers and acquisitions have also brought debts that are difficult to repay. Environmental protection enterprises are mostly at the capital level. Through structured financing (i.e. double leverage), they quickly expand the number of test objects, and further increase the debt burden. This has also led some enterprises to neglect the exertion of their own advantages and the release of their capabilities in the crazy growth, leading to the homogenization of products and services, thereby intensifying the vicious competition in the industry

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;">

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;"> However, at present, the environmental protection industry will gradually enter a period of differentiation during the winter, bringing opportunities and innovation impetus to the industry. Among the subdivisions of environmental protection, the scores of some emerging sectors are particularly bright. Unlike the weakness of traditional sectors such as sewage treatment and waste gas treatment, environmental monitoring enterprises that are less affected by deleveraging, under the joint action of policies and market choices, their performance increased by nearly 61% year-on-year. China Merchants Securities Research Report shows that the growth rate of fixed asset investment in 2019 increased month on month, which is a high probability event. From the market perspective, on the 2019 A-share trading day, a series of environmental protection stocks such as China Tianying, CLP environmental protection, Yongqing environmental protection, etc. bucked the market one after another

portant; word-wrap: break-word ! important; "/>

portant; word-wrap: break-word !important;">

portant; Word wrap: break this process can apply rare earth metals such as cerium to the production of improved nylon word! important; "/>

portant; word-wrap: break-word !important;"> From the perspective of valuation and fund positions, the allocation value of the environmental protection sector has gradually emerged. In order to avoid the risk of default, some companies have taken measures such as reducing the speed of operation, so we still need to be vigilant against performance mines this year. In the context of capital shortage, cash flow operating environmental protection enterprises deserve priority attention. The core lies in lower risk and better cash flow sustainability. In the future, whether the enterprise can match the long-term and short-term funds, and adapt the construction and operation will become the key to improve the ability of cash flow management. In the second half, the pattern of the environmental protection market may have changed, but how it evolves in the future needs to observe the later industry integration

how should car dealers survive the cold winter of the car market? It is collated and released by China mechanical and electrical products trading (hereinafter referred to as mechanical and electrical). If you need to reprint, please indicate the source of the article. For more information about the electromechanical industry, please click attention: electromechanical information of China's electromechanical products trading