Index
On Wednesday, February 16, 2022, as of the closing, the turnover of Shanghai and Shenzhen stock markets reached 807 billion yuan. The Shanghai index rose 0.57%, the Shenzhen Component Index rose 0.23% and the gem index rose 0.07%. The infrastructure sector, which represents steady growth, lifted the limit tide, among which the engineering consulting sector of Shenwan secondary industry, rose 5.02%.
Comments
At present, when there is no incremental capital entering the market, it is still a stage of stock game. It is difficult to maintain the simultaneous rise of growth stocks and value stocks for a long time. The growth stocks that rebounded sharply yesterday fell today, and the value stocks represented by infrastructure ushered in a sharp rise. Growth stocks will not rise directly in the short term. It still needs time and funds to digest differences and gradually build a bottom. Due to some disturbing factors interfering with the market in foreign countries, market funds tend to operate in the short term and rotate in various sectors. Today, funds are pouring into infrastructure stocks, which is still caused by the strong policy of stable growth and the improvement of the short-term certainty of infrastructure sectors. With the news of the easing of the situation on the Russian Ukrainian border in the afternoon, the market sentiment will gradually stabilize, and the market style may switch again after a period of time.
The view that we are optimistic about the infrastructure sector in the short term remains unchanged. We need to pay attention to the sector rotation between new and old infrastructure. Recently, the infrastructure sector has stepped out of the upward trend and become one of the rare main lines in the market. However, most of this market is centered on the traditional infrastructure and upstream and downstream, while the performance of the new infrastructure is relatively inferior. However, one thing we can not ignore is that it is disadvantageous to vigorously promote the traditional infrastructure to achieve the goal of “double carbon”, Therefore, the new infrastructure of clean energy may be a long-term opportunity this year. Next, we should pay attention to the release of policies in this regard.
Industry dynamics
\u3000\u30001. Premier Li Keqiang chaired the executive meeting of the State Council on February 14. The meeting stressed that we should promote the strengthening of manufacturing chains and the reconstruction of industrial infrastructure, accelerate the construction of new infrastructure and the transformation of energy-saving and carbon reduction technologies in key areas, and expand effective investment. (Xinhua News Agency)
Company dynamics
Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) (601669): the company issued an announcement on the cumulative new loans in 2022. As of January 31, 2022, the cumulative new loans of the company in 2022 totaled 60754051400 yuan, accounting for 27.13% of the audited consolidated net assets (223909338400 yuan) at the end of 2020, More than 20% of the audited consolidated net assets of the company at the end of 2020. (Securities Daily)
Risk warning: the macro policy is not as expected; The price rise of raw materials exceeded expectations; The implementation of the project is not as expected.
