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The development of standard is expected to speed up, and the concept of digital currency continues to be active Hengbao Co.Ltd(002104) 6 connected board
The concept of digital currency strengthened again on the 11th. As of press time, Hengbao Co.Ltd(002104) rose by the limit, Beijing Advanced Digital Technology Co.Ltd(300541) , Shenzhen Forms Syntron Information Co.Ltd(300468) and so on. It is worth noting that Hengbao Co.Ltd(002104) has been trading for six consecutive trading days. In terms of news, recently, 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, proposing to “steadily promote the development of legal digital currency standards”.
The plan proposes to explore the establishment and improvement of legal digital currency infrastructure standards by comprehensively considering secure and trusted infrastructure, issuance system and storage system, registration center, payment transaction communication module, terminal application, etc. Research and formulate the information security standards of legal digital currency to ensure the storability, unforgeability, non repeatable transaction and non repudiation in the circulation process. Study and formulate legal digital currency business and application standards, and determine the standardized processes of issuance, circulation and withdrawal. Research and formulate statutory digital monetary standard, help to improve the legal digital money technology security and advanced nature. Research and formulate the basic data element standard of legal digital currency to improve the standardization of data. Study and formulate technical standards for legal digital currency terminals, and promote the improvement of terminal acceptance environment. Research and formulate legal digital currency evaluation and detection standards, and standardize the detection indicators of relevant systems and products.
The promulgation of the 14th five year plan for the development of financial standardization puts forward new requirements for the development of digital RMB standards. Anxin Securities believes that standard setting is an important link in industrial development. A unified digital RMB infrastructure, issuance and circulation return process and terminal acceptance environment will become the preconditions for the large-scale promotion of digital RMB. The unification of standards will lay a solid foundation for the deepening of digital RMB application scenarios and the expansion of application fields in the future.
The agency said that the digital RMB industry chain mainly includes five types of enterprises. It is suggested to pay attention to the investment opportunities of relevant listed companies: 1) financial machinery enterprises: Grg Banking Equipment Co.Ltd(002152) , Newland Digital Technology Co.Ltd(000997) , Xgd Inc(300130) , Shanghai Guao Electronic Technology Co.Ltd(300551) ; 2) Bank IT enterprises: Digital China Information Service Company Ltd(000555) , Shenzhen Sunline Tech Co.Ltd(300348) , Yusys Technologies Co.Ltd(300674) , Client Service International Inc(300663) , Northking Information Technology Co.Ltd(002987) ; 3) Payment institution: Lakala Payment Co.Ltd(300773) ; 4) Encryption algorithm enterprise: Beijing Certificate Authority Co.Ltd(300579) , Koal Software Co.Ltd(603232) , Beijing Infosec Technologies Co.Ltd(688201) ; 5) Application scenario: Enterprise: Zhejiang Zhengyuan Zhihui Technology Co.Ltd(300645) , Newcapec Electronics Co.Ltd(300248) .
the supervision of pre-sale funds is now improved, and the signal real estate sector has strongly pulled up Tahoe Group Co.Ltd(000732) and other daily limits
The real estate sector rose strongly on the 11th. As of press time, Tahoe Group Co.Ltd(000732) , Shenzhen New Nanshan Holding (Group) Co.Ltd(002314) , Rongan Property Co.Ltd(000517) , Tianjin Tianbao Infrastructure Co.Ltd(000965) , Metro Land Corporation Ltd(600683) , triumph City, China Wuyi Co.Ltd(000797) and other limits rose, while Jinke service, Shenzhen Sdg Service Co.Ltd(300917) and others followed. On the news side, according to the 21st Century Business Herald, relevant departments recently issued relevant opinions on the supervision of urban commercial housing pre-sale funds. It is understood that the biggest difference between this document and the relevant provisions in the measures for the administration of pre-sale of urban commercial housing issued in 1994 is that the provisions on pre-sale funds are clearly unified across the country, which is conducive to standardizing the use of pre-sale funds and consolidating the regulatory responsibilities of relevant local departments.
Since last year, the real estate industry has welcomed good news one after another. In December last year, the central bank and the China Banking and Insurance Regulatory Commission issued the notice on doing a good job in M & a financial services for risk disposal projects of key real estate enterprises, encouraging banks to carry out M & a loan business in a stable and orderly manner, and focusing on supporting high-quality real estate enterprises to merge and acquire high-quality projects of large real estate enterprises in danger and difficulties.
On February 8, the central bank and the China Banking and Insurance Regulatory Commission jointly issued the notice on excluding the loans related to affordable rental housing from the concentration management of real estate loans, which made it clear that the loans related to affordable rental housing projects were not included in the concentration management of real estate loans, and encouraged banking financial institutions to follow the principles of legal compliance, controllable risk and commercial sustainability, Increase support for the development of affordable rental housing.
Guosen Securities Co.Ltd(002736) believes that it is clear that the loans related to indemnificatory rental housing projects are not included in the real estate loan concentration management, which has been paved when the initial real estate loan concentration management policy was launched. The introduction of this official document will convey the attitude to a certain extent, strengthen confidence, and ensure the issuance of housing loans may be more positive. In addition, if the identification standard of indemnificatory rental housing refers to the provision that the allocation of construction in Shanghai is no less than 15%, it will be marginally beneficial to the real estate enterprises developing relevant commercial housing projects.
Capital Securities said that at present, the valuation center of the real estate industry has been repaired. At this stage, the rebound logic of the sector is still mainly based on the expectation of policy relaxation. Under the background of stable growth, the release of policies will be strengthened step by step. It does not rule out non hot cities to break the shackles of excessive regulation in the past. The subsequent industry fundamentals are expected to usher in recovery with the gradual improvement of policies. In the future, with the reconstruction of the industry pattern and development mode, the operation and management efficiency and credit acquisition ability of real estate enterprises will be the key factors in the medium and long term. The accelerated clearing within the industry means the emergence of opportunities to improve the concentration. Under the improvement expectation, real estate stocks have always had the characteristics of significant excess returns. It is recommended that China Vanke Co.Ltd(000002) , Poly Real estate, Gemdale Corporation(600383) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) , and China overseas development.
Beijing Winter Olympic Games invested 312 fuel cell vehicles to develop or speed up the industrial chain
Beijing Youth Daily reported that at the special press conference on the construction of “two districts” in Beijing held on February 10, Liu Yutong, director of 2022 Beijing Information Center, introduced that 312 fuel cell vehicles were put into operation and carried out large-scale demonstration operation at the Winter Olympic Games. He introduced that Beijing adheres to the basic principle of “electricity is electricity, hydrogen is hydrogen”, and electricity for passenger cars and hydrogen for commercial vehicles, and vigorously promotes the development of fuel cell vehicle industry. The Beijing Tianjin Hebei fuel cell vehicle demonstration city cluster led by Beijing has been included in the first batch of national demonstration city clusters. It is planned to promote and apply more than 800 fuel cell vehicles by the end of this year.
Guolian Securities Co.Ltd(601456) pointed out that hydrogen fuel cell will become the core incremental application of hydrogen energy in the field of transportation by virtue of its energy advantages such as high energy efficiency and zero emission. Under the background of “2060 carbon neutralization”, hydrogen fuel cell vehicles will help transportation achieve deep decarbonization, and will take the lead in the application of commercial vehicles, especially heavy trucks, to achieve differentiated scene layout with pure electric vehicles. At present, the localization degree of fuel cell system has increased from about 30% in 2017 to 60% – 70%. Core components such as electric stack, membrane electrode, air compressor and hydrogen circulation pump can be produced independently. Core materials such as gas diffusion layer, catalytic layer and proton exchange membrane are also accelerating research and development, and are generally in the stage of sample delivery test and verification, We expect that the hydrogen fuel cell industry chain is expected to fully realize domestic supply in the next 2-3 years.
The agency believes that in combination with the cost reduction path of hydrogen energy heavy truck, the investment framework should be established at different development stages: 1) 2020-2025 (initial stage). At this stage, the technology of supporting infrastructure and hydrogen fuel cell vehicles is not mature, and the cost of vehicle purchase and hydrogenation is still high. Policy support has become the main driving force for the development of hydrogen energy vehicles at this stage, and focuses on the development of medium and heavy trucks. The market space is expected to reach 10 billion. Fuel cell stack and system suppliers close to the demand of terminal hydrogen energy heavy trucks at this stage will take the lead in benefiting, Therefore, focus on suppliers with fuel cell system integration capability and vehicle customer base, such as Beijing Sinohytec Co.Ltd(688339) , reshaping shares, etc.
2) 2025-2030 (acceleration period). With the increasing popularity of infrastructure and the decline of technological innovation Zhejiang Nhu Company Ltd(002001) cost, the industry has entered an accelerated development period. By 2030, the annual sales scale is expected to reach 100000 vehicles and the market space is expected to reach 100 billion. At this stage, the upstream and downstream of the industrial chain will usher in the first large-scale volume, and the scale growth of stacks, core parts and materials will benefit from this stage, From the perspective of unit value, it is suggested to first pay attention to the air compressor hydrogen cycle ( Fujian Snowman Co.Ltd(002639) , Shanghai Hanbell Precise Machinery Co.Ltd(002158) , Kingston, shijiatoubo, etc.) and hydrogen storage bottle ( Sinoma Science & Technology Co.Ltd(002080) , CIMC Enrico, Guofu hydrogen energy, etc.), and then pay attention to the upstream core material catalyst ( Sino-Platinum Metals Co.Ltd(600459) , Jiping new energy, etc.) and proton exchange membrane (Dongyue Group).
eight departments: promote the safe echelon application of waste power batteries in the fields of power backup, charging and replacement (with shares)
Eight departments including the Ministry of industry and information technology issued the implementation plan for accelerating the comprehensive utilization of industrial resources. The scheme proposes to improve the management system and strengthen the whole life cycle traceability management of power batteries of new energy vehicles. Promote cooperation between upstream and downstream of the industrial chain to jointly build recycling channels and build a cross regional recycling system. Promote the safe echelon application of waste power batteries in the fields of power backup, charging and replacement. Build a number of echelon and recycling demonstration projects in key areas such as Beijing Tianjin Hebei, the Yangtze River Delta, Guangdong, Hong Kong and Macao Bay area. Cultivate a number of echelon and recycling backbone enterprises, and strengthen the R & D and promotion of technologies such as nondestructive testing of power batteries, automatic disassembly and efficient extraction of valuable metals.
Caixin Securities believes that with the continuous improvement of the penetration rate of new energy vehicles and the increasing importance of electrochemical energy storage power stations in the power grid, the new installed capacity of lithium-ion batteries is expanding year by year, and the tide of decommissioning is coming. It is generally believed that the recycling of waste batteries can be divided into two steps: echelon utilization and disassembly and regeneration. We calculate according to the battery life of 5-6 years, that is, most of the batteries retired in 2030 will be produced around 2025. We assume that 60% of the used batteries will be used in echelon and 40% of the used batteries will be disassembled and regenerated in 2030. At the same time, we assume that the average unit price of batteries in 2025 is 0.55 yuan / wh and the residual value rate of used batteries in 2030 is 20%, It is estimated that the global battery echelon utilization market space will exceed 100 billion in 2030. If the price of recycled metal salts (lithium carbonate, nickel sulfate / cobalt / manganese) is measured by the steady state of supply and demand, and considering the recovery rate of 90%, the global market space for battery recovery and regeneration will also reach 100 billion yuan in 2030.
The agency pointed out that the regulatory policies on power battery recycling have been issued one after another, the requirements for recycling enterprises are being supplemented and improved, and the relevant responsibilities of enterprises in all links of the industrial chain are gradually clarified. At the same time, the formulation of power battery recycling standards will be accelerated, and the battery recycling standards in relevant subdivided fields will be gradually expanded in the future, so as to further promote the standardized development of the industry. The power battery recycling market is about to expand. It is suggested to pay attention to the layout of Miracle Automation Engineering Co.Ltd(002009) , Gem Co.Ltd(002340) , Zhejiang Huayou Cobalt Co.Ltd(603799) and so on.
rare earth market price index is rising, and industry leaders are expected to fully benefit
According to the monitoring of business agency, the price index of China’s rare earth market is rising, and the price trend of China’s metal neodymium, neodymium oxide, praseodymium oxide, metal praseodymium, praseodymium neodymium alloy and praseodymium neodymium oxide is rising sharply. As of the 10th, the price of neodymium oxide in rare earths in China was 1.13 million yuan / ton; The price of neodymium is 1355000 yuan / ton; The price of praseodymium oxide is 970000 yuan / ton; The price of praseodymium neodymium oxide is 1.01 million yuan / ton; The price of praseodymium neodymium alloy is 1235000 yuan / ton; The price of metal praseodymium is 1.3 million yuan / ton, and the trend of China’s rare earth market continues to rise.
With the sustainable development of new energy vehicles, wind power and variable frequency air conditioning in the downstream of rare earth, the demand continues. In addition, China’s rare earth supply is still tight and the inventory continues to decline. Recently, the on-site transaction market is good, but the on-site supply is still tight and the demand outside China continues to rise, Chen Ling, an analyst at business society, expects that the price trend of rare earth market may continue to rise in the later stage.
Sinolink Securities Co.Ltd(600109) believes that according to the calculation that the first batch of indicators accounted for half of the whole year in 21 years, China’s overall rare earth mining index is expected to be more than 200000 tons in 22 years, with a year-on-year increase of about 20%, which is in line with the market’s expectation of an annual increase of 20% in supply. It is estimated that the global supply shortage of praseodymium and neodymium oxide will be 12000 tons and 19000 tons respectively in 22-23 years. The rapid development of global new energy vehicles, wind power and other fields has driven the demand for NdFeB permanent magnet to increase. It is expected that the demand for praseodymium and neodymium oxide will maintain a growth rate of more than 20% in 22-23 years. China’s supply is controlled by indicators, while the construction cycle of overseas new projects is long, and it is difficult to increase in the short term of 2-3 years. Therefore, the industry is expected to maintain a tight balance in 22 years. Stimulated by the release of the first mining indicators during the year, it is expected that the subsequent prices are easy to rise but difficult to fall.
In recent years, rare earth has benefited from the continuous growth of the demand for permanent magnet materials in the fields of new energy vehicles, wind power and variable frequency air conditioning. The superposition supply side is limited by the capacity index, the supply and demand structure is expected to be continuously optimized, and the industry leaders are expected to fully benefit. Sinolink Securities Co.Ltd(600109) it is suggested to pay attention to the relevant targets of the upstream mineral resources of rare earth, which are 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) in turn; At the same time, it is suggested to pay attention to the magnetic material stocks Ningbo Yunsheng Co.Ltd(600366) , Jl Mag Rare-Earth Co.Ltd(300748) , Beijing Zhong Ke San Huan High-Tech Co.Ltd(000970) , Earth-Panda Advanced Magnetic Material Co.Ltd(688077) benefiting from the industrial chain.
multiple departments issued guidance and accelerated solid waste treatment benefited related stocks
With the rapid development of industry, China’s sewage discharge has increased. At the same time, China’s urban sewage treatment rate has continuously improved. The national urban sewage treatment rate has increased from 91.9% in 2015 to 97.53% in 2020. With the support of relevant policies, the demand for sewage resource utilization, black and smelly water treatment, sponge city construction, rural water and other fields is growing rapidly, Drive the continuous expansion of the overall market capacity of the industry.
Statistics show that there are 48 sewage concept shares in a shares. In terms of performance, the performance of eight sewage treatment concept stocks is expected to increase in advance, Beijing Water Business Doctor Co.Ltd(300055) , Tianjin Motimo Membrane Technology Co.Ltd(300334) , Henan Qingshuiyuan Technology Co.Ltd(300437) , Xingyuan Environment Technology Co.Ltd(300266) is expected to more than double the net profit attributable to the parent company in 2021. It is estimated that the net profit in 2020 will be about RMB 2.65 million, compared with the net profit of RMB 3.34 million in the same period in 2020. The company has completed the completion acceptance of many projects under construction, such as Guogongzhuang project and Dongjiao sewage treatment plant project, and the overall gross profit of the company has increased compared with the same period of last year.
In addition, the data show that there are 26 solid waste treatment concept shares in a shares. In terms of market performance, some solid waste treatment concept stocks have performed well since the beginning of the year, Kingland Technology Co.Ltd(000711) , Road Environment Technology Co.Ltd(688156) , Wangneng Environment Co.Ltd(002034) and other stocks have increased by more than 15%, of which Kingland Technology Co.Ltd(000711) has increased by 73.91%.
The valuation of solid waste treatment concept stocks is generally low, and the latest rolling P / E ratio of 9 concept stocks is less than 20 times, including Shenwu Energy Saving Co.Ltd(000820) , Chongqing Sanfeng Environment Group Corp.Ltd(601827) , Wangneng Environment Co.Ltd(002034) . Chongqing Sanfeng Environment Group Corp.Ltd(601827) the performance forecast shows that the net profit attributable to the parent company is expected to reach 1.204 billion yuan to 1.299 billion yuan in 2021, with a year-on-year increase of 67.02% to 80.19%. The performance forecast is mainly due to the inclusion of multiple waste incineration power plant projects under the company and some equity participation projects of the company into the list of renewable energy power generation subsidy projects.
