In early trading today, A-Shares opened higher and walked higher, and the transaction between the two cities was slightly enlarged.
On the disk, the market activity increased significantly, and most sectors rose. The industrial machine, infrastructure, rare earth permanent magnet, yuancosmic and other sectors led the rise, while aviation, pork, oil, cultivation diamond and other sectors made a slight correction. The net outflow of funds from Beishang was 61.37 million yuan.
infrastructure sector led the rise
The sharp rise of infrastructure sector has become an important factor for the strength of the market today. In early trading, Hangzhou Landscape Architecture Design Institute Co.Ltd(300649) 20% limit, which is the second consecutive limit, and the share price hit a new high in nearly two and a half years.
More than 10 stocks such as Shenzhen L&A Design Holding Limited(300949) , Hanjia Design Group Co.Ltd(300746) , Zhejiang Southeast Space Frame Co.Ltd(002135) , Shanghai Trendzone Holdings Group Co.Ltd(603030) rose by the limit or more than 10%. Leading stocks Zhejiang Construction Investment Group Co.Ltd(002761) have risen for 8 consecutive days after the Spring Festival, of which 7 days closed the limit, with a cumulative rise of 103.58%, becoming the first stock to double in the year of the tiger; Zhengping Road & Bridge Construction Co.Ltd(603843) has also been trading for five consecutive days recently, and Chengbang Eco-Environment Co.Ltd(603316) has been trading for three consecutive days.
In terms of news, the executive meeting of the State Council recently stressed that we should speed up the construction of new infrastructure and expand effective investment. In fact, under the background of moderately advanced infrastructure investment, in mid December 2021, the Ministry of Finance issued 1.46 trillion yuan of new special bonds in 2022 to all localities in advance. After the Spring Festival holiday, the centralized commencement ceremony of provincial key construction projects has been held in Hubei Province, Fujian Province, Shaanxi Province and other places. “Infrastructure construction” has also become a hot word in the recent news broadcast.
Statistics show that in January 2022, the scale of local bonds issued by various regions was 698.9 billion yuan, an increase of 336.564 billion yuan over the same period last year, almost doubling. In terms of purpose, the special debt for urban and rural, municipal and industrial park infrastructure accounts for 42.2%; Transportation infrastructure construction accounts for 18.3%, and nearly 60% is directly invested in infrastructure construction.
Although the construction of infrastructure projects after the festival is in full swing, and relevant stocks have also increased significantly, from the perspective of the whole infrastructure sector, its valuation is at the lower middle level of history in terms of P / E ratio and P / B ratio. Up to now, the P / E ratio of the infrastructure engineering index is less than 10 times, and the P / B ratio fluctuates only about 1 times, both at historical lows. The overall dividend yield of the infrastructure sector is about 2.01%, much higher than the average level of a shares.
Citic Securities Company Limited(600030) said that it is expected that the issuance of new special bonds in the first quarter will be more than 1 trillion. After considering the balance of special bonds last year and the constraints of urban investment and financing, it is expected that the growth rate of infrastructure investment in the first half of this year will be more than 5%, and it is expected to reach 10% in an optimistic situation. The infrastructure industry chain may usher in extreme changes in the basic area. At present, the overall sector is undervalued and low allocation.
digital currency is good frequently
beware of concept hype
Since the beginning of this year, digital currencies have been favorable frequently, relevant concept stocks have remained active, and the sector index has soared by more than 12% after the festival. The fourth issue of Qiushi magazine published today pointed out that we should speed up legislation in key areas, strengthen legislation in important areas such as national security, and speed up legislation in areas such as the digital economy. The digital currency sector became active again, Hengbao Co.Ltd(002104) , Shenzhen Guohua Network Security Technology Co.Ltd(000004) trading limit opened, and Shenzhen Emperor Technology Company Limited(300546) , Sumavision Technologies Co.Ltd(300079) and other sectors rose strongly.
With the rise of central bank digital currency, China’s digital RMB has become the most widely used digital currency in the world. According to the data of the central bank, by the end of 2021, there were more than 8.0851 million digital RMB pilot scenarios, six times the number of scenarios six months ago. China’s digital RMB has opened 261 million personal wallets, with a transaction amount of 87.565 billion yuan.
Huaan Securities Co.Ltd(600909) it is estimated that the upgrading of digital RMB software and hardware industry will bring 140 billion market space, including 5.1 billion bank core system transformation, 33.9 billion digital RMB Hard Wallet, 50.7 billion ATM upgrading, 32.3 billion smart counter card issuing machine upgrading and 19.2 billion merchant POS equipment upgrading. The market space is broad.
Although digital currency has great potential and broad prospects, investors should note that digital currency is still in the exploratory stage for listed companies, the economic benefits generated are extremely limited, and the future is full of uncertainty. For example, Shenzhen Emperor Technology Company Limited(300546) recently elaborated on its digital currency business in response to the letter of concern of Shenzhen Stock Exchange. Since 2021, the contract amount of such business of the company is only 225000 yuan. The digital RMB business did not have a significant impact on the company’s operating performance.
But Shenzhen Emperor Technology Company Limited(300546) the share price has doubled this year. While the share price rose sharply, Gao Jing, the actual controller of the company, continuously reduced its holdings and cashed out more than 35 million yuan on February 8 and 9. According to the previously announced reduction plan, Gao Jing will continue to reduce its holdings.
Beijing Advanced Digital Technology Co.Ltd(300541) this year, the highest share price has also nearly doubled, but recently, the investor interaction platform also said that the company’s business involving legal digital currency is small and will not have a significant impact on the company’s revenue and profit in the short term. Companies such as Newcapec Electronics Co.Ltd(300248) have made similar remarks.
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