Led by the strong performance of digital currency and telecom sectors, the three indexes rebounded collectively on February 9. According to the data of China Securities Journal and China Securities Taurus, as of the close, the Shanghai index rose 0.79% to 3479.95 points; The Shenzhen Composite Index rose 1.55% to 13531.31 points; The gem index rose 1.30% to 2883.60. A total of 3500 stocks rose in the two cities throughout the day.
the “new infrastructure” track burned
Since 2022, infrastructure investment has become a trump card in the A-share market. Following the “outbreak” of construction, building materials and construction machinery in the key sectors of “old infrastructure” on February 7, several infrastructure stocks rose again on February 8.
On February 9, the price limit tide spread to the “new infrastructure” sector. The 20cm price limit of several stocks of digital currency, the firepower of the telecom sector, and the price limit of China Mobile reached a new high since its listing.
In terms of the telecommunications sector, the communication service index rose 4.08%. Among individual stocks, Zhong Fu Tong Group Co.Ltd(300560) rose 12.02%, China Mobile, Guomai Technologies Inc(002093) 10% limit, Jilin Jlu Communication Design Institute Co.Ltd(300597) , Eastone Century Technology Co.Ltd(300310) , Gci Science & Technology Co.Ltd(002544) followed.
According to the data of China Securities Journal and China Securities Taurus, the digital currency index rose by 8.77%. Among individual stocks, Wuhan Tianyu Information Industry Co.Ltd(300205) , Shenzhen Emperor Technology Company Limited(300546) , Chase Science Co.Ltd(300941) , Synthesis Electronic Technology Co.Ltd(300479) all rose by 20cm. Among them, Shenzhen Emperor Technology Company Limited(300546) has raised the 20cm limit for two consecutive days, with a cumulative increase of about 44%.
From the perspective of traditional infrastructure and transportation policies, 1235g {457} will be the main areas of infrastructure and transportation, and 1235g {457} will be the areas related to digital infrastructure. For example, Beijing plans to add 6000 5g base stations in 2022; Henan plans to add 40000 5g base stations in 2022.
“The strongest signal revealed by the local two sessions in 2022 may be that investment should be made.” Tao Chuan, an analyst at Soochow Securities Co.Ltd(601555) , said in a research report on January 24. He analyzed that the expansion of infrastructure investment is “on the line”. In terms of market performance, the stock market has taken the lead. There has been a relatively obvious adjustment in the stock market since the beginning of 2022, but the infrastructure related index has performed steadily. Since November 2021, the infrastructure engineering index has continued to outperform the market.
Many research institutions mentioned in the research report before the spring festival that infrastructure will be a super track in 2022, including new infrastructure sectors such as digital currency and 5g.
Why is the new infrastructure sector popular?
When infrastructure investment is almost clear, many analysts believe that the traditional infrastructure investment return ratio is difficult to increase significantly, and the new infrastructure investment is more flexible from the perspective of investment.
“On the one hand, with strong policy support and high participation of private capital, new infrastructure is less sensitive to the bottleneck of government funds than traditional infrastructure; on the other hand, the growth attribute of new infrastructure is higher, and its performance relative to the market has shown a certain negative correlation with traditional infrastructure.” Tao Chuan said.
Haitong Securities Company Limited(600837) analysts Liang Zhonghua and Li Jun believe that considering the implementation of the carbon peak scheme and the analysis of major engineering projects in the 14th five year plan, infrastructure is expected to be more inclined to the field of new infrastructure in the future, and the growth rate of generalized new infrastructure investment may be about 20% in 2022. “Traditional infrastructure has long bid farewell to the era of high growth. In 2022, the growth rate of traditional infrastructure may be relatively low, and the flexibility of new infrastructure may be greater.”
which sectors need to be excavated?
The performance of digital economy and telecom sectors is amazing today. In terms of policies, on January 6, 2021, the national development and Reform Commission publicly issued the “14th five year plan for promoting national government informatization”, which mentioned that “the security of the national e-government network will reach a new level by 2025”, and the policy level will once again increase the support for the information and innovation industry.
On January 12, the State Council issued the “14th five year plan” for the development of digital economy. “The plan further defines the determination to promote the development of digital economy, especially industrial digitization.” Huaxi Securities Co.Ltd(002926) the research points out that many main tracks in the computer field are expected to become the focus of policy support, among which the first is energy it / Internet. Because it is at the intersection of industrial policy and downstream demand, and at the starting point of the outbreak of the five-year dimension, it is the industrial engine of the great development of it in the 14th five year plan.
