Research On The Growth Evaluation Of Industrial Robot Listed Companies

With the introduction of ‘Industry 4.0' and ‘Made in China 2025',China's manufacturing industry is developing towards automation,integration,intelligence and greening.With the advantages of reducing labor costs and improving production efficiency,industrial robots are the first choice for high-end equipment manufacturing and enterprises to realize technology upgrading.At present,industrial robot is an important symbol to measure a country's industrial competitiveness and technological innovation ability,and has become an important entry point for a new round of global industrial revolution and scientific and technological revolution.Under the trend of vigorous development of this industry,this paper evaluates the growth of listed industrial robot companies from the perspective of value chain.This paper uses the value chain analysis method to analyze the distribution of 52A-share industrial robot listed companies in the upper,middle and lower reaches of China,and outlines ‘smile curve' based on profitability,describes the profit distribution pattern of the industry,and provides investment guidance for investors looking for investment opportunities.Based on the establishment of the growth evaluation index system,this paper further evaluates the growth of listed industrial robot companies through factor analysis method,and ranks the total chain and sub-chain enterprises of the value chain,so as to find out the leading enterprises of the total chain and each sub-chain,and provide references for investors to identify the enterprise value.According to the results of factor analysis method,representative case companies-ESTUN,TOPSTAR and ABB,a leading international enterprise,were selected to carry out a comparative study of multiple cases,to illustrate the gap between China's industrial robot industry and foreign advanced level,and to forecast the future development of China's industrial robot.Based on the above research logic,this paper draws the following conclusions.First,China's industrial robot industry value chain has been preliminarily formed.The industrial value chain based on sales profitability presents the characteristics of ‘smile curve',and high technical barriers create high added value for upstream and downstream products.Secondly,general industrial robots in our country listed company growth performance,profitability and debt paying ability is the key factors affecting the industry,the growth of the industry chain ability by the middle and lower reaches,upstream decreasing,while the value chain chain of leading enterprises-XINJIE,QUICK and SECOTE,at the same time score based on the growth of industrial value chain has the characteristics the ‘rainbow curve'.Thirdly,for domestic and foreign representative enterprises with the whole industrial chain of technology and products,there are significant differences in growth.Based on the industry may have a certain innovation on selection and research perspectives,help the government departments,investors,corporate management comprehensive insight into the growth of industrial robots in China listed companies present situation and existing problems,and provide policy support for the sustainable development,capital supply and management has reference value.