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the national development and Reform Commission stated that it would carry out infrastructure investment moderately ahead of schedule, and the collective outbreak of infrastructure sectors such as construction and building materials
Construction, building materials, construction machinery and other infrastructure sectors collectively rose on the 7th. As of press time, in the construction sector, Hualan Group Co.Ltd(301027) , Henan Provincial Communications Planning & Design Institute Co.Ltd(300732) “20cm” limit, Chongqing Construction Engineering Group Co.Ltd(600939) , China Haisum Engineering Co.Ltd(002116) , Hongrun Construction Group Co.Ltd(002062) , Shandong Hi-Speed Road&Bridge Co.Ltd(000498) , Huitong group, Anhui Transport Consulting & Design Institute Co.Ltd(603357) , Guizhou Transportation Planning Survey&Design Academe Co.Ltd(603458) , Zhongyan Technology Co.Ltd(003001) and other more than 10 shares rose limit; In the building materials sector, Beijing Hanjian Heshan Pipeline Co.Ltd(603616) , Changjiang materials, Yunnan Bowin Technology Industry Co.Ltd(600883) and other trading limits, Gansu Shangfeng Cement Co.Ltd(000672) , Huaxin Cement Co.Ltd(600801) , Silvery Dragon Prestressed Materials Co.Ltd Tianjin(603969) and other outstanding performances; In terms of construction machinery sector, Chongqing Mas Sci.& Tech.Co.Ltd(300275) , Shaanxi Construction Machinery Co.Ltd(600984) , Moon Environment Technology Co.Ltd(000811) and other sectors rose ahead.
In terms of news, the relevant person in charge of the national development and Reform Commission recently said that there were many uncertain factors in the first quarter of this year. We should appropriately move the policy starting point forward, make early arrangements, start early and achieve early results, and meet various challenges with a stable economic operation situation. We will promptly introduce a series of policies and measures to implement the strategy of expanding domestic demand. Timely study and put forward targeted measures to revitalize industrial operation. Carry out infrastructure investment moderately ahead of schedule and strive to form more physical workload in the first quarter.
Anxin Securities pointed out that at present, the fundamentals of the construction industry are improving as a whole, especially the rapid growth of orders from central infrastructure enterprises and local infrastructure leaders, which will help improve performance. In the future, it will take the lead in benefiting from the release of infrastructure demand under the goal of stable growth. At the same time, it will actively layout new businesses, improve comprehensive strength and boost valuation, In 2022, the construction industry is expected to usher in the dual development opportunities of policy driven and “construction +”. At present, the construction industry is still in the undervalued range and the investment value is prominent.
At the same time, the construction industry actively embraces the “new economy” and actively layout Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) around “construction +”. BIPV, energy storage and carbon sequestration have become the key areas of the layout of listed companies. Some companies Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) have achieved initial results and are expected to continue to make efforts in the future, so as to improve the valuation level of companies and industries. Industry leaders and regional leaders will continue to cultivate traditional businesses, expand the whole industrial chain and extend upstream and downstream around traditional businesses, and fully benefit from the improvement of industry concentration. The release of future performance is sustainable. The construction industry has both “white horse” with good performance and extremely low valuation and “dark horse” with “construction +” layout and standing at the market outlet. The overall trend of the industry is good, with fundamental support and policy catalysis, and “construction +” can improve the valuation space. It is an industry with “advance, attack and retreat” and is optimistic about the overall trend of the construction industry in 2022.
the oil sector rose strongly Sino Geophysical Co.Ltd(300191) and the international oil price rose to a seven-year high
Boosted by the continuous rise of international oil prices, the oil sector rose strongly on the 7th. As of press time, Sino Geophysical Co.Ltd(300191) led, Zhongman Petroleum And Natural Gas Group Corp.Ltd(603619) , Xinjiang Beiken Energy Engineering Co.Ltd(002828) , Geo-Jade Petroleum Corporation(600759) , China Oilfield Services Limited(601808) and other limit increases, China Petroleum Engineering Corporation(600339) , Tong Petrotech Corp(300164) , Petrochina Company Limited(601857) and other increases were ahead.
On the news side, Brent crude oil futures rose more than 4% in the past week, reaching a maximum of $93.7 / barrel, a seven-year high. WTI crude oil futures rose more than 5%, rising for the seventh consecutive week.
Minsheng Securities said that the crude oil price may continue to fluctuate upward in 2022 and remain at a medium high throughout the year. Therefore, it is suggested to focus on the upstream crude oil exploitation industry whose profitability benefits from the rise of crude oil and the oil service industry which benefits from the increase of capital expenditure under high oil prices, and Petrochina Company Limited(601857) , China Petroleum & Chemical Corporation(600028) and Zhongman Petroleum And Natural Gas Group Corp.Ltd(603619) with new crude oil exploitation and sales business.
Everbright Securities Company Limited(601788) also pointed out that it is expected that the overall pattern of crude oil supply and demand will be good in the future. China will continue to enhance China’s energy production guarantee capacity and accelerate the development and application of advanced exploitation technologies for oil and gas and other resources. Therefore, it continues to be optimistic about the prosperity of the oil and gas sector. It is suggested to pay attention to the following subscripts: first, the upstream sector, PetroChina, Sinopec, CNOOC, Enn Natural Gas Co.Ltd(600803) ; Second, oil service sector, China Oilfield Services Limited(601808) , Offshore Oil Engineering Co.Ltd(600583) , Cnooc Energy Technology & Services Limited(600968) , Sinopec Oilfield Service Corporation(600871) , Bomesc Offshore Engineering Company Limited(603727) ; Third, large private refining and chemical sector, Hengli Petrochemical Co.Ltd(600346) , Rongsheng Petro Chemical Co.Ltd(002493) , Jiangsu Eastern Shenghong Co.Ltd(000301) , Hengyi Petrochemical Co.Ltd(000703) , Tongkun Group Co.Ltd(601233) ; Fourth, light hydrocarbon cracking sector, satellite chemistry and Oriental Energy Co.Ltd(002221) ; Fifth, coal to olefins, Ningxia Baofeng Energy Group Co.Ltd(600989) ; The sixth and third largest chemical white horse, Wanhua Chemical Group Co.Ltd(600309) , Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) and Jiangsu Yangnong Chemical Co.Ltd(600486) .
the three departments issued guidance on promoting the high-quality development of the iron and steel industry, and the iron and steel sector may be concerned
The Ministry of industry and information technology and other three departments issued the guiding opinions on promoting the high-quality development of the iron and steel industry. The guidance points out that by 2025, the iron and steel industry will basically form a high-quality development pattern with reasonable layout and structure, stable resource supply, advanced technology and equipment, prominent quality brand, high intelligence level, strong global competitiveness, green, low-carbon and sustainable development. The ability to innovate has been significantly enhanced. The R & D investment intensity of the industry will strive to reach 1.5%, and breakthroughs have been made in advanced processes and technologies such as hydrogen metallurgy, low-carbon metallurgy, clean steel smelting, thin strip casting and rolling, endless rolling and so on. The numerical control rate of key processes reaches about 80%, the digitization rate of production equipment reaches 55%, and more than 30 intelligent factories are built.
The guidance points out that it is strictly prohibited to increase steel production capacity. We will resolutely curb the blind construction of steel smelting projects, strictly implement the laws, regulations and policies on capacity replacement, project filing, environmental impact assessment, pollutant discharge permit and energy assessment, and shall not increase steel production capacity in the name of machining, casting and ferroalloy. Strictly implement laws and regulations on environmental protection, energy consumption, quality, safety and technology, promote backward production capacity in accordance with laws and regulations by using comprehensive standards, and strictly prevent the resurgence of “ground bar steel” and the resumption of dissolved excess production capacity. Study and implement differentiated control policies based on carbon emission, pollutant emission, total energy consumption and capacity utilization. We will improve the long-term mechanism for preventing overcapacity and strengthen the investigation and punishment of violations.
China Merchants Securities Co.Ltd(600999) believes that China’s total demand will decline rapidly in the second half of 2021, with a steep slope; After the mitigation of coal shortage and power rationing and other issues, a number of policies to boost demand have been issued, and China’s total demand is expected to rise rapidly; It coincides with winter, and the policy cannot fully exert its force. The prosperity of the construction season after the Spring Festival is expected to exceed market expectations. At present, the profit per ton of steel is in a high position. Considering that the growth rate of total demand in 2022 is expected to rise quarter by quarter, the profit per ton of steel in 2022 is expected to run at a high level and exceed market expectations.
There is good price elasticity in the iron and steel industry. It is suggested to pay attention to Baoshan Iron & Steel Co.Ltd(600019) , Beijing Shougang Co.Ltd(000959) , Nanjing Iron & Steel Co.Ltd(600282) , etc.
rare earth sector rose China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) daily limit China Minmetals Rare Earth Co.Ltd(000831) and other big rises
The rare earth sector had an active intraday trend on the 7th. As of press time, China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) rose by the limit, China Minmetals Rare Earth Co.Ltd(000831) , Jiangsu Huahong Technology Co.Ltd(002645) , Dongguan Eontec Co.Ltd(300328) , Rising Nonferrous Metals Share Co.Ltd(600259) , Aluminum Corporation Of China Limited(601600) , Inner Mongolia Baotou Steel Union Co.Ltd(600010) , Shenghe Resources Holding Co.Ltd(600392) and so on. In terms of news, recently, the Ministry of industry and information technology and the Ministry of natural resources issued the first batch of total control indicators of rare earth in 2022. The total control indicators of the first batch of rare earth mining, smelting and separation in 2022 were 100800 tons and 97200 tons respectively. Among them, the indicators of light rare earth mining, medium and heavy rare earth mining, smelting and separation of China rare earth group are 29100 tons, 7806 tons and 34680 tons respectively; The light rare earth mining and smelting separation indexes of China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) are 60210 tons and 53780 tons respectively; The mining, smelting and separation indexes of medium and heavy rare earths of Guangdong rare earth industry group are 1620 tons and 6362 tons respectively; The medium heavy rare earth mining index and smelting separation index of Xiamen Tungsten Co.Ltd(600549) are 2064 tons and 2378 tons respectively.
Galaxy Securities pointed out that the first batch of rare earth mining, smelting and separation indicators in 2022 increased by 20% compared with the first batch in 2021, of which the light rare earth mining indicators increased by 23% and the medium and heavy rare earth mining indicators remained unchanged. The increment of light rare earth mining is mainly China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) , and the mining index of China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) is 36.4% higher than that of last year; The light rare earth mining index of the newly established China rare earth group is 29100 tons, an increase of 2.5% over the sum of the first batch of light rare earth mining indexes of China Minmetals Rare Earth Co.Ltd(000831) , China rare earth and South China rare earth in 2021. The supply concentration of medium and heavy rare earths in the first batch of indicators this year has increased significantly. In 2022, the newly established China rare earth group’s first batch of light rare earths and medium and heavy rare earth mining indicators accounted for 33% and 68% of the total respectively, China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) this time’s light rare earth mining indicators accounted for 67% of the total, and Guangdong rare earth industry group and Xiamen Tungsten Co.Ltd(600549) this time’s medium and heavy rare earth mining indicators accounted for 14% and 18% of the total respectively.
Northeast Securities Co.Ltd(000686) said that in the long run, the valuation system of rare earth sector may face reconstruction under industrial reform. At present, rare earths can be compared with lithium in 2015-2016 and cobalt in 2018. The upstream material properties of new energy are gradually strengthened, and it is expected to reproduce the logic of high demand for lithium and cobalt in history in the future. At the same time, the characteristics of strict policy control and high concentration of industry make the supply end of rare earths even better than lithium and cobalt, and the ability to cross the cycle in the future may be stronger. The valuation system of rare earth sector is facing reconstruction. In the medium term, the supply will exceed the demand in the next three years, and the prosperity of the industry is expected to continue to improve. The downstream electric vehicle track has a long slope and thick snow. At the same time, wind power, air conditioning and other fields are also blooming at many points, which will fully open the demand space for rare earth. The supply elasticity outside China is weak. It is expected that the tension between supply and demand of rare earth praseodymium and neodymium will continue in the next three years, and the prosperity of the industry is expected to continue to improve. At the current time point, rare earth has changed from the resource product with the worst pattern to the resource product with the best pattern. The whole industry is ushering in an epic turning point. The valuation system is expected to be reconstructed. With the upward movement of the rare earth price center, leading enterprises are expected to continue to make high profits. We should grasp the opportunity of revaluation of the value of rare earth core assets with pricing power. Related subjects: China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) , China Minmetals Rare Earth Co.Ltd(000831) , Inner Mongolia Baotou Steel Union Co.Ltd(600010) , Shenghe Resources Holding Co.Ltd(600392) , Xiamen Tungsten Co.Ltd(600549) , etc.
the total box office of new films in the Spring Festival broke 6 billion, and the film market may be further restored in 2022 (with shares)
According to the data of cat’s eye professional edition, at 19:47 on February 6, 2022, the total box office of 2022 Spring Festival new films (including point screening) exceeded 6 billion. Citic Securities Company Limited(600030) pointed out that with the improvement of epidemic control and the improvement of industrialized production capacity of the film industry, the film market is expected to further recover in 2022 on the basis of 2021.
China International Capital Corporation Limited(601995) believes that it is necessary to maintain the box office forecast of the whole year and pay attention to the performance of key films and the fixed pace of imported films. Looking forward to the follow-up film list in 2022, domestic films such as Wen Ruyan, cloister Pavilion and imported films such as tragedy on the Nile have been put on file, mysterious sea has been confirmed to be introduced, and Hollywood film reserves are rich. With the weakening of the impact of the epidemic, the schedule effect will be weakened, and the film supply and box office distribution will be more uniform throughout the year. If the high-quality content continues to be supplied, the viewing demand will still be resilient. Maintain the box office forecast of 53.7 billion yuan excluding service fees under the neutral situation in 2022, with a year-on-year growth rate of 25.3% and a decrease of 9.6% compared with 2019.
Everbright Securities Company Limited(601788) pointed out that in the short term, epidemic prevention and control has become a key variable affecting the recovery of the film and television industry; In the medium and long term, the “14th five year” China Film Co.Ltd(600977) development plan “has anchored the goal of building a cultural power by 2035, and the long-term trend of the film and television industry will not change. Recommend high-quality content production companies and leading cinemas. The box office performance of 2022 Spring Festival is lower than expected. With the improvement of the epidemic in the future, it is expected to boost residents’ demand for film viewing. Focus on the two logics of “high-quality content + improvement of head shadow investment concentration”. Recommend reading group, focus on China Film Co.Ltd(600977) , Beijing Enlight Media Co.Ltd(300251) , cat’s eye entertainment, Wanda Film Holding Co.Ltd(002739) .
Hualong 1 Argentina project signed a contract, and the nuclear power equipment ushered in 100 billion market space (with shares)
China’s independent third-generation nuclear power “hualong-1” sent another good news on February 1: Argentine nuclear power company officially signed the design, procurement and construction contract of artucha No. 3 nuclear power plant project in Argentina with CNNC, China Zhongyuan and China Zhongyuan Argentina branch of CNNC. This is an important milestone in China Arab nuclear energy cooperation.
Minsheng Securities pointed out that under the background of “carbon neutrality”, nuclear power will become an important part of base load energy in the future with its advantages of high energy efficiency, low pollution, environmental friendliness, large single unit capacity and stable power generation. According to the annual development and Prospect of China’s nuclear energy (2020) released by China Nuclear Energy Industry Association, China’s installed capacity of nuclear power in operation will reach 70 million KW and 30 million KW under construction by 2025, while the total installed capacity of nuclear power in operation and under construction will reach 200 million KW by 2035. According to the installed capacity of 1 million kw of each nuclear power unit, the construction of nuclear power is expected to be promoted by 10 units per year. Based on the construction cost of 11000-18000 yuan per kilowatt of nuclear power plant, the average annual nuclear power market space from 2022 to 2025 is about 127.9-209.3 billion yuan, of which the equipment market space is about 64-104.7 billion yuan / year.
Nuclear island (CI) and nuclear island (BOP) mainly include three parts. Nuclear island is the core of the whole nuclear power plant, and it also accounts for the highest cost in the investment and construction of nuclear power plant, and undertakes the main part of thermonuclear reaction. The function of the conventional island is to convert the heat energy of the nuclear steam supply system into mechanical energy in the steam turbine and drive the engine to generate electricity. It is composed of pipeline system, condenser, steam turbine, generator, steam water separation reheater, etc. At present, the comprehensive localization rate of major second-generation improved nuclear power unit projects, such as Hongyanhe, Fuqing, Fangchenggang and other conventional islands, has reached more than 85%.
The demand for spent fuel reprocessing equipment may exceed expectations. Spent fuel is high-level radioactive nuclear waste. At present, China’s spent fuel reprocessing technology is not mature enough. According to the data of toubao Research Institute, the annual output of spent fuel per 1 million kw of nuclear power equipment capacity is about 21 tons. In 2020, China’s output of spent fuel is 1071.6 tons, while the spent fuel reprocessing capacity is only 50 tons. Considering the high cost and long cycle of the construction of spent fuel reprocessing plant, it will be difficult to meet the demand for spent fuel treatment in the short term.
Minsheng Securities believes that it is recommended to pay attention to Jiangsu Shentong Valve Co.Ltd(002438) , Anhui Yingliu Electromechanical Co.Ltd(603308) , Harbin Electric Corporation Jiamusi Electric Machine Co.Ltd(000922) , Sinoseal Holding Co.Ltd(300470) , Zhejiang Jiuli Hi-Tech Metals Co.Ltd(002318) for nuclear island and conventional island equipment; It is suggested to pay attention to Jiangsu Shentong Valve Co.Ltd(002438) , Tongyu Heavy Industy Co.Ltd(300185) , Lanzhou Ls Heavy Equipment Co.Ltd(603169) in the field of spent fuel reprocessing equipment.
