Today (February 11), the Shanghai and Shenzhen stock markets showed a shock adjustment pattern as a whole. The three major A-share indexes opened low in the morning, and then the differentiation pattern of Shanghai strong and deep weak was obvious. There were occasional signs of upward attack in the Shanghai index, while the gem index showed a pulse downward. With the sharp decline of high-end stocks, the three major stock indexes ended down, and the overall trend was weak. From the disk point of view, the carnival of large financial and resource stocks, the take-off of digital currency, real estate development and other sectors, and the local profit-making effect still exists.
In this regard, Soochow Securities Co.Ltd(601555) previously mentioned that the gem index was dragged down by the continuous sharp decline in the direction of Contemporary Amperex Technology Co.Limited(300750) and medicine, and there was no stabilization signal on the technical side. It is still recommended to watch carefully in the short term. In terms of operation, it is suggested to light the index and focus on individual stocks, cautiously pursue the rise, try to avoid crowded hot tracks, and focus on the recovery line and digital economy in the short term.
At the same time, Huajin Securities pointed out that in the first half of the year, defensive varieties were preferred, such as undervalued bancassurance, construction and mandatory consumption. At the same time, in the context of PPI downturn, the boom of the midstream industry is gradually picking up, and auto parts and mechanical equipment are expected to benefit. In the second half of the year, it returned to growth and added endogenous booming industries with high performance certainty, such as new energy, big technology and national defense industry. In terms of concept, it is recommended to focus on the reform of central enterprises and post epidemic recovery.
sector:
I. digital currency
China Merchants Securities Co.Ltd(600999) mentioned that after the promotion of the Winter Olympic Games, the digital RMB will be further familiar to the market, and its industrial chain enterprises and traditional banking industry will benefit from it. On the one hand, digital RMB hardware equipment manufacturers will benefit from the market opportunities brought by digital RMB Hard Wallet, while software developers will benefit from the business growth brought by the upgrading of banking systems outside China. On the other hand, the cross-border application of digital RMB will benefit the traditional banking business through “spillover effect”, with retail payment, foreign currency exchange and cross-border remittance bearing the brunt.
Guosheng Securities pointed out that it is optimistic about the opportunities that digital RMB may bring to relevant institutions by reconstructing China’s electronic payment industry chain. Suggestions: 1. Bank acquiring service providers: card transfer, Lakala Payment Co.Ltd(300773) , Newland Digital Technology Co.Ltd(000997) ; 2. Financial IT / banking service providers: Shenzhen Forms Syntron Information Co.Ltd(300468) , Northking Information Technology Co.Ltd(002987) ; 3. Digital RMB related operating institutions: Industrial And Commercial Bank Of China Limited(601398) , Agricultural Bank Of China Limited(601288) , Bank Of China Limited(601988) , China Construction Bank Corporation(601939) , Bank Of Communications Co.Ltd(601328) , Postal Savings Bank Of China Co.Ltd(601658) , China Merchants Bank Co.Ltd(600036) , Alibaba, Tencent, etc; 4. Security chip company: Unigroup Guoxin Microelectronics Co.Ltd(002049) , Huada electronics, etc; 5. Card dealer: Hengbao Co.Ltd(002104) , Chutian Dragon Co.Ltd(003040) , Wuhan Tianyu Information Industry Co.Ltd(300205) etc.
II. real estate development
Wanlian Securities said that the policy continued to improve, the fundamentals remained at the bottom, and the beneficiary real estate enterprises gradually radiated from high credit real estate enterprises to private real estate enterprises: at present, the industry fundamentals are still at the bottom stage. The sales data of the top 100 real estate enterprises in January showed that the overall sales performance of the industry is still poor, and the medium and long-term loan data of residents in January was significantly lower than that in the same period last year, It also further confirms that the current demand side of the real estate industry is still weak, and the policies are still in continuous improvement. We are optimistic about the high credit real estate enterprises with stable financial performance and the property management sector. The continuous superposition of favorable policies will radiate from high credit real estate enterprises to private real estate enterprises.
From the perspective of individual stocks, Guosen Securities Co.Ltd(002736) believes that real estate enterprises that are financially sound and focus on the first and second tier will stand out, and recommends Poly Developments And Holdings Group Co.Ltd(600048) , Gemdale Corporation(600383) . First of all, stable real estate enterprises are favored by financial institutions because they can still maintain a healthy financial situation under extreme pressure. On the one hand, they have low financing cost and are able to participate in the construction of affordable rental housing with long return cycle. On the other hand, they have financial strength to obtain cost-effective plots in the current indifferent land market and repair the long-term profit statement. Secondly, the supply of affordable rental housing focuses on large cities with net population inflow. Therefore, there are relatively more projects of real estate enterprises with more first and second tier layout, which makes it easier to obtain the preference of development loan resources.
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