Current investment tips:
This report is the seventh in a series of five major topics. It collects the main ideas and recommended targets of the in-depth reports related to the five major topics of the Institute from November 16 to December 31, with a total of more than 80. During this period, the new era of common prosperity Shenwan Hongyuan Group Co.Ltd(000166) 2022 investment strategy in China was held from December 22 to 24, focusing on the investment strategies of various fields and industries in 2022.
Special topic of asset allocation: Phoenix Nirvana, and the structural market made a comeback in the second half of the year. The macro team judges that the US will raise interest rates at least three times in 2022, starting as early as March. According to the interpretation report of the central working conference, China’s pressure has shifted from the epidemic situation and external environment to China’s supply and demand. The tiger change of a big country in 2022 is mainly reflected in the optimization of domestic demand structure and efficient policy care. The strategy team’s “bath fire · rebirth” Yunju professional investors read more than 37000 times. According to the report, A-Shares were under pressure in the first half of the year, and the structural market made a comeback in the second half of the year. Industry comparative investment strategy report “economic downturn, reverse looking for increment”
Optimistic about the military industry, the new generation of Internet technology meta universe related industrial chain (TMT), beauty care and new energy industry chain sink, and pay attention to the combination of green + new infrastructure + digital (distribution network intelligence). “Real gold is not afraid of fire – 2022 global asset allocation strategy report” reminds us that we will welcome a year when the volatility of traditional assets may be enlarged. There are still opportunities for Chinese bonds in the first half of the year, and there is still room for US bonds to rise in the first half of the year, but the narrowing of US bond term spread is more certain. In 2022, the marginal cost performance of US stock allocation fell. Alternative assets focus on bulk and REITs. From the experience of the United States, common prosperity should first increase and then talk about distribution. Focus on the “gold” asset consumption and “Platinum” asset technology in the era of “incremental” allocation. Mild β， Attacking α—— The investment strategy of Hong Kong stock market in 2022 is optimistic about the trend of Hong Kong stock market in 2022 with valuation repair as the main driving force β Market, and then take over the profit α quotation. In addition, focus on ESG series research of strategic team. The bond team looks forward to 2022 and draws a non mainstream view different from the current one. 2022 is expected to be fiscal easing + Monetary Stabilization (with emphasis on credit easing). It is expected that the policy focus will be on the pressure of stagflation, which is only a matter of amplitude. The 10-year Treasury bond is expected to have greater upward risk in 2022. In addition to the above reports, the metalworking report “quantitative active logic: a comprehensive introduction to roic-wacc investment analysis framework” has been read by nearly 6500 professional investors in Yunju.
Carbon neutralization topic: double carbon brings new opportunities for power, oil service equipment and new energy operators. The environmental protection team’s report “how to value new energy operators – Discussion on the valuation system of power industry under the background of carbon neutralization” has been read by more than 5000 professional investors in Yunju. The report summarizes that carbon neutralization has a triple multiplier impact on the overall profits of the power sector. The overseas new energy industry investment report draws lessons from developed countries and is optimistic about the target of rising gas prices, leading enterprises in the photovoltaic industry chain and clean energy operators. Affected by the dual carbon policy, the development of traditional power supply has slowed down, and the supply and demand of the 14th five year plan is tight or has just begun. We look forward to policy correction in the future. Energy transformation promotes the reform of power system, and the whole industrial chain ushers in new opportunities for technological innovation and industrial upgrading. Be optimistic about green power operators and focus on relevant targets with comprehensive energy service development capacity. In addition, the oil service equipment industry has ushered in new reforms due to carbon neutrality.
Intelligent topic: light macro, heavy micro, find increment. The report “metauniverse: global giants enter the game and the next generation Internet starts” has been read by more than 10000 professional investors in Yunju. The report analyzes the current layout of manufacturers in three directions in metauniverse. Four main investment lines in the electronics industry in 2022: first, the apple industry chain, including AR / VR glasses, thin and weight reducing wearable devices, etc; Second, mini LED; Third, the localization of semiconductor equipment; Fourth, smart cars continued to enjoy a high boom. The investment strategy of the computer industry in 2022 focuses on finding increment. Optimistic about security and digital opportunities in Hong Kong stock technology. In the strategy report “data siege”, compared with the United States and Europe, China began to seek the path of digital trading, which is an attempt to find a balance between data abuse and data development.
Consumption and general health: weak β Look for strong α。 In 2022, the consumer sector is recommended to pass the strong α Attribute offset industry β The pressure. In terms of medicine, it is suggested to pay attention to the internationalization of the midstream – Preparation / device / innovative drug companies and the high prosperity of the upstream – characteristic API / characteristic excipients / pharmaceutical equipment consumables / CXO / scientific research service companies and other sections.
Special topic on safety: focus on investment opportunities in Aeroengine industry chain. The market of military industry is high and the boom remains unchanged. In the panoramic analysis of the aviation development industry chain: a powerful power, the rising sun, we are firmly optimistic about the investment opportunities of the aviation engine industry chain, focusing on the leading enterprises in all links of the aviation development industry chain. The second series report of semiconductor equipment industry indicates that the sealing and testing industry is booming, capital expenditure is increasing, and semiconductor equipment will be expanded in a new round. In addition, Alibaba cloud’s log4shell vulnerability revisits network security. It vulnerabilities are inevitable, and the key lies in security capacity-building. Network security is still the long-term growth direction.
