Index
On Monday, February 21, 2022, as of the closing, the turnover of Shanghai and Shenzhen stock markets reached 900.4 billion yuan, the Shanghai stock index closed flat, the Shenzhen Component Index rose slightly by 0.09%, the gem index fell 0.79%, and the concept of “counting East and counting West” led the rise all day.
Comments
On February 17, since the news of the full launch of “counting East and counting West” came out, the market hot spots on the 18th and 21st trading days mainly focused on this sector. Relevant concept stocks rose sharply in a row, and some stocks rose by 40% in two days. Under such a market trend, we should consider two points: 1. The sharp rise of “counting East and counting West” is expected to boost market sentiment, Attract more wait-and-see funds and increase liquidity; 2. If the short-term rise is too strong, the medium and long-term investment logic may evolve into short-term speculation. Excessive pursuit of investors will lead to race track congestion, which will inevitably lead to the possibility of continuous downward adjustment of share price. Therefore, in the long run, choosing industries and companies with guaranteed profit growth for medium and long-term investment will reduce the problems caused by short-term fluctuations.
In the previous report, we pointed out that “the new infrastructure represented by new energy and digital economy has huge space, will usher in historic opportunities, and the growth rate of future performance can be expected”. The news of “counting East and counting West” undoubtedly increased the certainty of this judgment. However, too strong certainty means that the market has no buying opportunities and possible divergence risks in the later stage. At this stage, we can focus on the new energy infrastructure combined with “counting from the east to the west”. The reasons are as follows: first, the average valuation level of new energy infrastructure enterprises is still low; 2、 A large number of data centers will be added in the western region to absorb green energy nearby, which will increase the demand for green energy, and the relevant sectors of new energy infrastructure are expected to benefit. Related subjects: Sichuan Chuantou Energy Co.Ltd(600674) , Tongwei Co.Ltd(600438) , Cecep Solar Energy Co.Ltd(000591) , etc.
Industry dynamics
\u3000\u30001. The national development and Reform Commission and other departments jointly issued documents and agreed to start the construction of National Computing hub nodes in Beijing, Tianjin and Hebei, the Yangtze River Delta, Guangdong, Hong Kong and Macao Bay area, Chengdu and Chongqing, Inner Mongolia, Guizhou, Gansu and Ningxia, and planned 10 national data center clusters. According to the layout of the national integrated big data center system, the eight national computing hub nodes will serve as the backbone connection points of China’s computing network, develop data center clusters, carry out the collaborative construction between data centers and networks, cloud computing and big data, and serve as the strategic fulcrum of the national “Eastern digital Western computing” project to promote the orderly transfer of computing resources to the West, Promote the solution of the imbalance between supply and demand of computing power in the East and the West. （ Xinhuanetco.Ltd(603888) ）
Company dynamics
Yimikang Tech.Group.Co.Ltd(300249) (300249): on February 21, 2022, the company issued an announcement of abnormal fluctuations in stock trading. The deviation of the closing price increase of the company for two consecutive trading days on February 18 and February 21, 2022 exceeded 30%. According to the relevant provisions of the special provisions on GEM Trading of Shenzhen Stock Exchange, it belongs to abnormal fluctuations in stock trading. （iFinD）
Risk warning: the macro policy is not as expected; The price rise of raw materials exceeded expectations; Financial expenditure is lower than expected.
