Index tracking
[Shanghai and Shenzhen composite index] Shanghai Composite Index rose 0.79% to close at 3479.65 points; The Shenzhen Component Index rose 1.55% to close at 13531.31 points; The gem index rose 1.30% to close at 2883.60.
[up and down] industries: 26 industries. Among them, communication, computer and food and beverage sectors led the increase, with an increase of 3.85%, 3.21% and 3.19% respectively. Banking, building materials, real estate and other sectors led the decline, with declines of – 0.41%, – 0.14% and – 0.13%.
Comments
The communications sector led the gains. It is mainly driven by China Mobile. Specifically, on the one hand, the communication sector has continued to decline since July 2020. At present, the overall valuation of the sector is relatively low and has certain valuation advantages; On the other hand, the 14th five year plan for the development of digital economy clearly emphasizes that by 2025, China’s digital economy will move towards a period of comprehensive expansion, and the added value of the core industries of digital economy will account for 10% of GDP. As the foundation of digital economy, the construction of information infrastructure will support the overall profits of the industry. In terms of individual stocks, China Mobile, Guomai Technologies Inc(002093) , Wuhan Tianyu Information Industry Co.Ltd(300205) and other stocks rose by the limit.
Food and beverage sector is the biggest growth factor, mainly Baijiu sector led. In terms of performance, the overall performance of the industry has increased steadily, and the valuation is in a relatively reasonable range; Market situation, Baijiu sales during the Spring Festival as a whole is stable. From a fundamental point of view, the channel operates well, Maotai’s wholesale price remains high, and the overall level of inventory is benign. Overall, we still suggest paying attention to high-end liquor with high performance certainty. In terms of individual stocks, Anhui Kouzi Distillery Co.Ltd(603589) limit, Anhui Yingjia Distillery Co.Ltd(603198) , Anhui Gujing Distillery Company Limited(000596) rose 9.34% and 7.51% respectively.
In terms of concept sector, the digital currency sector strengthened. Yesterday, the people’s Bank of China, the State Administration of market supervision, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission issued the “14th five year plan” for the development of financial standardization, which pointed out that we should steadily promote the development of legal digital currency standards. Comprehensively consider the security and credibility infrastructure, issuance system and storage system, registration center, payment transaction communication module, terminal application, etc., and explore the establishment and improvement of legal digital currency infrastructure standards. Under the catalysis of the news, the sector strengthened. In terms of individual stocks, Wuhan Tianyu Information Industry Co.Ltd(300205) , Shenzhen Emperor Technology Company Limited(300546) , Chase Science Co.Ltd(300941) and other stocks rose by the limit.
Outlook
Today, the three major indexes rose in an all-round way, led by the computer and communication sectors related to the digital economy, with a net inflow of 484 million yuan in northward capital. Overall, the tone of “steady growth” throughout the year is clear. Fiscal and monetary policies are expected to keep macro liquidity relatively loose, and overseas risk disturbance is expected to slow down. At the configuration level, it is currently in the disclosure period of the annual report, which should be arranged from the perspective of “performance improvement”. It is suggested to pay attention to the nonferrous metals industry with high expectation rate of annual report disclosure, as well as the direction of power industry chain, infrastructure, digital economy and so on.
Risk warning: the profit of the enterprise is less than expected; Increased volatility in overseas markets; Systemic risk
