Index
On Monday, February 14, the three major indexes weakened. As of the closing, the Shanghai index fell 0.98%, the Shenzhen composite index fell 0.77% and the gem index fell 0.52%. What performed better today were the pharmaceutical stocks related to covid-19 treatment and the tourism, hotel and other sectors related to the recovery of the epidemic. The coal, banking, infrastructure and other sectors that rose well last week saw a correction today.
Comments
At present, the market is in the stage of shock and bottom grinding, and the sector rotation is fast. Today, most of the rising stocks are some hot theme stocks and oversold rebound stocks. It is difficult to grasp the later trend of these sectors, and those with high relative certainty are still recommended to pay attention to the infrastructure sector of the stable growth chain. There is a slight adjustment in the infrastructure sector today. The reasons for the adjustment are as follows: first, some time ago, under the expectation of steady growth and tightening overseas liquidity, funds were transferred from overvalued growth stocks to undervalued value stocks. During this period, the rise of value stocks and the decline of growth stocks are not small, and there is the possibility of market funds switching again. 2、 The recent trend of the infrastructure sector is good, reaching a certain increase. In the case of closing the negative line on the latest trading day, the funds here have differences on the later trend, and the profit taking is cashed out here.
Although the infrastructure sector belongs to the sector with low performance growth rate, this year’s market macro variables play a decisive role, that is, steady growth occupies the dominant position at this stage. Under this background, the future performance growth rate of the infrastructure sector is expected to increase, and the stock price is in a reasonable range. Therefore, it is recommended to continue to pay attention to the infrastructure sector.
Industry dynamics
On February 10, the national development and Reform Commission and the National Energy Administration issued the opinions on improving the institutional mechanisms and policies and measures for green and low-carbon energy transformation, proposing to strengthen the top-level design of the new power system, promote the clean power source and the electrification of terminal energy consumption, and formulate the development strategy and overall plan of the new power system to meet the needs of the development of new energy power, Encourage all kinds of enterprises and other entities to actively participate in the construction of new power system. (National Development and Reform Commission website)
Company dynamics
China Energy Engineering Corporation Limited(601868) (601868): it was announced on February 9, 2022 that recently, China Gezhouba Group Co., Ltd., China Gezhouba Group Three Gorges Construction Engineering Co., Ltd., China Gezhouba Group Construction Engineering Co., Ltd., China Gezhouba Group survey and Design Co., Ltd China Energy Construction Group Guangdong Electric Power Design and Research Institute Co., Ltd. (the above five companies are collectively referred to as “Party B”) and Baoding state control group Co., Ltd. (hereinafter referred to as “Baoding state control”) signed the cooperation contract for Baoding urban renewal – urban village reconstruction project in Jingxiu District and Lianchi district (hereinafter referred to as “Baoding project contract”). After the contract comes into effect, Party B will jointly invest with Baoding state control to establish a project company, which is responsible for all the work contents of investment, financing, construction, operation and maintenance of the project. ( Hithink Royalflush Information Network Co.Ltd(300033) Finance)
Risk warning: the macro policy is less than the expected risk; Risks of raw material price rise exceeding expectations, etc.
