Exports in the first quarter increased by 28.7%. Four major industries ushered in investment in new machines.

The General Administration of Customs recently released the import and export situation of China's foreign trade in the first quarter of this year. According to customs statistics, from January to March, China’s total import and export value was 617.85 billion US dollars, an increase of 44.1% over the same period last year. Of this total, exports were US$316.17 billion, up 28.7%; imports were US$301.68 billion, up 64.6%; trade surplus was US$14.49 billion, down 76.7%.

The "Securities Daily" Market Research Center conducted a statistical analysis of the March 2010 National Export Key Commodity Value Table provided by the General Administration of Customs, and found that the industries with the largest year-on-year increase in export value were machinery, textiles, clothing, home appliances, and steel. . To this end, we have carefully interpreted the investment opportunities of the above four types of industries based on a large number of research reports and data to readers.

Textile and garment exports and performance exceeded expectations
Export data: In the first quarter of 2010, China's textile and apparel exports totaled 39.246 billion US dollars, an increase of 15.20%. Among them, the cumulative export of textiles was 15.207 billion US dollars, and the cumulative export of clothing was 24.039 billion US dollars, with growth rates of 26.54% and 9.03% respectively. The export value continued to increase and exceeded the same period of 2008. The year-on-year growth rate of textiles and apparel exports in March was 6.68% and -19.86%, respectively. Although the growth rate of export data in March was significantly lower than the cumulative growth rate in the previous February.

Industry Status: From the second half of 2008, in the nine months since the impact of the financial crisis, the growth rate of textile and apparel exports has become “cross-over”, that is, the decline in textile export growth rate has been greater than the export of garments since October 2008. The growth rate is decreasing. Since September 2009, the decline in the growth rate of fabric exports has begun to be less than the decline in the growth rate of garment exports, which indicates that the foreign textile industry is gradually beginning to slowly bottom out.

After the financial crisis, the demand for high-end clothing was shrinking rapidly, which caused the decline in textile growth rate to be greater than the decline in clothing. At present, the growth rate of textile exports is faster than the growth rate of clothing. This situation has lasted for 6 months, and the textile exports in 2010 reached 15.207 billion US dollars, exceeding the level of the same period in 2008, and the same period in 2008 was 14.614 billion US dollars. Excluding the impact of factors such as product prices, textile exports have returned to 2008 levels. This shows that with the international demand, especially in Europe and the United States, the global textile industry's operating rate has further rebounded, and the global textile industry's prosperity has continued to rise.

Market participants believe that with the increase in raw material prices in the second half of 2009, the company's raw material inventory is basically exhausted, and higher raw material costs will prompt manufacturers to further increase prices and transfer raw material cost pressure. In the future, the price of domestic textile and apparel exports will further increase. In the case of rising volume and price, the export value of domestic textile and apparel will continue to grow. It is not excluded that if the economic recovery in Europe and the United States exceeds expectations, the annual growth of textile and apparel exports is likely to exceed market expectations of 10%.

Machinery and equipment investment drives industry revitalization
Export data: According to customs statistics, in the first quarter of this year, China's exports of mechanical and electrical products reached US$189.08 billion, an increase of 31.5%, which was 2.8 percentage points higher than China's total export growth rate during the same period, accounting for 59.8% of China's total export value during the same period. Among them, the export of electrical and electronic products was 75.89 billion US dollars, up 34.5%; the export of mechanical equipment was 64.71 billion US dollars, up 28.8%. In addition, imported electromechanical products reached US$137.76 billion, an increase of 49.8%.

Industry Status: In response to the once-in-a-century financial crisis, China launched a 4 trillion investment plan at the end of 2008. According to the project cycle, the first quarter of 2009 was the project approval and implementation fund stage, and the second quarter entered the pre-level land leveling relocation. In the third quarter and the fourth quarter, projects have entered the start-up period. In 2009, the sales of construction machinery industry also started from the second quarter, and began to enter high-speed growth in the third quarter, which basically coincided with the progress period of the project of 4 trillion investment projects. Since the third quarter is the rainy season in the southern region, the fourth quarter is the severe winter in the northern region, which will inevitably affect the normal progress of some projects. Therefore, a large number of 4 trillion investment projects will enter the construction phase in the first half of this year. Coupled with the continuation of the construction scale of the newly started projects last year, it will inevitably drive the construction machinery industry to maintain a strong sales trend. In addition, the continued recovery of the domestic economy has also led to rapid recovery of downstream demand such as coal, which has expanded the imagination of the industry's continued high growth.

At the same time, regional economic revitalization and key projects are important support for industry demand. Although the growth rate of fixed asset investment in the country will not have a high growth rate of more than 30% last year, the promotion of urbanization in the central and western regions, including the revitalization plan of Haixi Construction, Guangxi Region, and Minjiang Economic Region, plus the state, A number of key projects in the province and the city that have started and are about to start construction, the market is not expected to require real estate investment and industrial investment in 2010, China's fixed asset investment will complete more than 20% growth level, therefore, regional economy and key projects It will be an important support for industry demand in 2010. Although it will face structural adjustment and credit tightening pressure in the second half of the year, regional economic revitalization and key project construction are expected to support the industry to maintain a certain level of growth. It is expected that the industry growth rate will be about 20% in 2010.

Steel prices rose, exports surged, plate opportunities were better than long products
Export data: In the first quarter of this year, China's steel billet and rough forgings exported US$6 million, up 258.2% year-on-year, ranking the top in terms of export growth year-on-year. Steel exports were US$672.529 million, up 13.7% year-on-year.

Industry status: After the holiday, the social stock of steel products gradually declined. With the gradual transfer of downstream demand after the holiday, the social inventories of steel products have shown a downward turning point, which has been declining for four consecutive weeks, but its absolute quantity is still at a relatively high level, which has made the steel price continue to rise. Obstacles.

Steel prices continued to rise, and sheet prices were stronger than long products. Domestic steel prices have maintained a rising trend for several weeks, and the price increase of domestic sheet products is higher than the price increase of long products.

The price of upstream raw materials rose, and downstream demand rose steadily. The price of iron ore has risen madly, the new construction area of ​​housing continues to increase, and infrastructure construction has driven demand for steel. In the first quarter, the growth rate of automobile production and sales exceeded 70%. The effect of household appliances policy has become more prominent. Steel exports will continue to rebound in the first half of the year.

The output will reach new heights and the elimination of backward production capacity should be accelerated. In February, the average daily output of crude steel in China has reached 1.798 million tons, a record high, equivalent to 647 million tons of annual crude steel output. The situation of overcapacity is still severe. Recently, the Ministry of Industry and Information Technology once again proposed to increase the elimination of backward production capacity, and through the market reversal mechanism, to guide steel enterprises to eliminate backward production capacity according to law.

Outlook for the first quarter of 2010: Steel and steel companies' earnings in January and February decreased compared with the fourth quarter average, mainly due to the decline in winter production and sales prices. After the steel mills continued to raise the ex-factory price in March and April, Orient Securities expects its earnings to rebound in the second quarter.
The internal and external sales situation of home appliances is good.
Export data: In the first quarter of this year, the export of electrical and electronic products was 75.89 billion US dollars, an increase of 34.5%. In the March 2010 National Export Key Commodity Value Table provided by the General Administration of Customs website, it also showed that the export value of color TV increased by 48.2% year-on-year.

Industry Status: The latest research report of Galaxy Securities shows that the LCD TV industry is the fastest growing sub-sector in the home appliance industry. Since 2006, the industry has maintained a double-digit high-speed growth. In 2009, domestic LCD TV sales reached 24.30 million units, and the sales growth rate reached 87.16%. In January 2010, the sales growth rate was as high as 88.02%, showing rapid growth. At the same time, we are seeing a steady increase in exports. With the continuation of consumption upgrades, the country's implementation of the consumption strategy, the driving force for the growth of the LCD TV industry still exists, and the LCD TV industry will maintain a relatively fast growth rate in the next three years.

The washing machine industry is growing faster. In 2009, domestic sales reached 26.598 million units, an increase of 11.78% year-on-year. In the first two months of 2010, domestic sales increased by 20.19% and 21.35% respectively, and exports increased by 48.82% and 48.16% respectively. The domestic sales and export situation is good. The industry will continue to grow in 2010. From the current industry growth, the driving force still exists.

The air-conditioning industry maintained steady growth. After the situation that the air-conditioning season was not prosperous in 2009, the sales of the air-conditioning industry in 2010 were higher in the first two months, especially the domestic sales growth rate reached 89.41% and 16.65% respectively; the export also showed a rapid rebound, in January and February. Exports were 3.25 million units and 3.12 million units respectively, a significant increase from the same period in 2009. The air-conditioning industry is expected to continue to maintain double-digit growth in 2010.

Outlook for the first quarter of 2010: CICC said that the first quarter operating income of home appliance companies continued to grow at a high rate in the second half of last year, but the year-on-year growth rate was slightly lower than the fourth in 2009. There is no obvious differentiation in each sub-sector, with an average growth rate of about 40%.
 

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High-power LED Lamp Beads are a kind of LED Lamp Beads. Compared with low-power LED lamp beads, high-power LED lamp beads have higher power, brighter brightness and higher price. Low-power LED lamp beads have a rated current of 20mA, and those with a rated current higher than 20mA can basically be counted as high-power. The general power numbers are: 0.25w, 0.5w, 1w, 3w, 5w, 8w, 10w and so on. The main brightness unit is lm (lumens), and the low-power brightness unit is generally mcd (millicandela, 1cd=1000mcd), which is the luminous intensity I. High-power lamp beads generally refer to imitated lumen lamp beads, just like the shape of a picture. SMD's are higher than 20MA. It is not called high power.

1cd=1 lm/sr (lumens/three-dimensional radian)=1 candlelight. It is explained as: the luminous flux emitted by the light source within the solid angle dΩ in the specified direction or the luminous flux dΦ transmitted by the obtained light source, the quotient of the two is the luminous intensity I (unit is candela, cd). The outer cover can be made of PC tube, which can withstand high temperature up to 135 degrees. PC tube made of LED cover, the internal temperature can reach 135 degrees, and the external temperature can resist -45 degrees without cracking
As an emerging green, environmentally friendly, energy-saving light source, it is widely used in car lights, flashlights, lamps and other places. The reason why LED high-power is called this is mainly for low-power LEDs. I have summarized three classification standards: The first one is that according to the power size can be divided into 0.5W, 1W, 3W, 5W, 10W... 100W varies, depending on the total power of the molded product after packaging.
The second type can be divided into different packaging processes: large-size epoxy resin packaging, piranha-like epoxy resin packaging, aluminum substrate (MCPCB) packaging, TO packaging, power SMD packaging, MCPCB integrated packaging, etc.
The third type can be divided into low-light-attenuation high-power products and non-low-light-attenuation high-power products according to its different degrees of light attenuation.
Of course, since there are many parameters of high-power LEDs, there will be different classification standards according to different parameters, so I will not repeat them here.
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