This paper mainly introduces the general situation of the intelligence of Zhuo Lang, the leader of textile machinery in the world, and makes an in-depth analysis and calculation of the development of textile machinery industry and the core growth point of Zhuo Lang in the future. Zhuolang is an European textile machinery group with a history of one hundred years, leading the world in textile machinery revenue, with international top textile machinery brands such as Celaifu, Qingze and so on. In recent years, Zhuo Lang has fully distributed the Asian markets such as Xinjiang, India and Central Asia. Xinjiang, India and Central Asia are the main cotton producing areas in the world, but the cotton yarn output is far lower than that of cotton. With the promotion of the "Belt and Road Initiative" strategy, the global spinning industry will be transferred to Xinjiang and its surrounding areas in the future. it is expected to drive an equipment investment of 50 billion yuan. Zhuo Lang, as the first top textile machinery brand in the region, will fully enjoy the industrial transfer dividend.

Zhuo Lang intelligent backdoor Xinjiang urban construction, the global textile machinery giant A shares stand out. By buying the original assets of urban construction in Xinjiang and injecting 10 billion yuan into high-quality textile machinery assets, global textile machinery giant Zhuo Lang Intelligent achieved A-share listing. Zhuo Lang's bet performance in 17-19 years was 5.83 million yuan 7.66 hectares respectively, with an annual compound growth rate of 30 percent. The controlling shareholder of the company is Jiangsu Jinyi Group, and Pan Xueping, the real controller, has many years of experience in the textile machinery industry.

Century-old European brand, leading the global spinning technology. Zhuolang has top spinning, twisting, embroidery and special sub-brands, such as Zilaifu, Qingze and Fokman, whose products basically cover the whole industrial chain of the spinning industry.

Spinning industry transfer, the world "from west to east", the domestic "from east to west". The spinning industry originated in Europe, and then gradually transferred to China, India and other eastern countries with the development of European economy. At present, the per capita GDP of many coastal provinces in China is more than 10,000 US dollars, and the spinning industry is transferring from the developed areas in the east to Xinjiang and neighboring Central Asia. The five Central Asian countries, including Uzbekistan, are major natural cotton producers, accounting for more than 6% of global cotton production, while cotton yarn production accounts for less than 1%. In the next three years, the five countries in Central Asia alone will have a demand for textile machinery and equipment of more than 20 billion yuan.

In Xinjiang under the deep layout of "Belt and Road Initiative", the textile machinery giant ushered in the second spring. Zhuolang Xinjiang will be put into production in 2018 with an annual production capacity of 2 million spindles. Xinjiang has a planned production capacity of 1800 million spindles by 2020, but according to the current cotton yarn production, the actual effective production capacity is only 7 million spindles. We predict that with the continuous implementation of the policy, there will be more than 10 million spindles of equipment demand in Xinjiang in the next three years. Drive 20 billion yuan of equipment investment.

Performance forecast and investment advice. We predict that Zhuo Lang's 18-year net profit is 619 million yuan, corresponding to 23 times 18PE. As a global representative of high-end textile machinery, we fully benefit from industrial transfer and are highly recommended.

Risk hint: exchange rate fluctuation risk, spinning capacity transfer progress is lower than expected.