On February 22, the Sinolink Securities Co.Ltd(600109) 2022 Investment Strategy Summit with the theme of “Shouzheng innovation Nuggets transformation” was held in Shanghai. The strategy meeting brought together hundreds of listed companies and dozens of well-known experts from various industries. Through more than 10 special meetings, it made a prospect of global monetary policy changes and capital markets in 2022.
Sinolink Securities Co.Ltd(600109) believes that 2022 may be the “ebb” year of the global epidemic, the haze will be swept away and the “dawn” will be greeted, and China’s economy may quickly return to a reasonable growth range of 5% – 5.5% under the “new steady state”.
It is worth mentioning that this strategy meeting is Su Chen, director of the Sinolink Securities Co.Ltd(600109) Research Institute, who took office shortly after taking office. For the future development plan of the Institute, Su Chen said in an exclusive interview with Shanghai Securities News at the strategy meeting that Sinolink Securities Co.Ltd(600109) Institute will carry out top-down 3.0 reform from the group company level, constantly strengthen market influence and pricing power, and “reproduce the glory of that year”.
the stock market is not pessimistic
In his speech, ran Yun, chairman of Sinolink Securities Co.Ltd(600109) said that the blueprint for energy transformation, manufacturing upgrading and the rise of innovative drugs is gradually unfolding, and all links of consumption are expected to improve marginally. The macro picture of 2022 is very promising.
In the “special session on aggregate” held that morning, Sinolink Securities Co.Ltd(600109) chief economist Zhao Wei used “born in the sun” to describe the macroeconomic situation in 2022. In Zhao Wei’s opinion, “born to the sun” has three meanings:
first , the economic state of the special period for more than two consecutive years may pass;
Second, there is no need to be too pessimistic in the process of returning to the “new steady state” when China’s “policy bottom” is consolidated and the “economic bottom” is imminent;
third , steady growth is not “following the old road”, and “high-quality development” is the long-term direction.
Zhao Wei believes that the improvement of demand after the epidemic and the acceleration of policy normalization are the two core backgrounds affecting asset pricing. The changes in inflation and liquidity will still have a phased impact on the global market for at least 1-2 quarters. The shortening of portfolio duration and the rebalancing of high and undervalued values will be the mainstream response of the market.
In addition, Zhao Wei also stressed that at the stage of the transformation from “broad currency” to “broad credit”, the negative factors of China’s interest rate bonds will gradually appear, but the stock market is not pessimistic under the background that the “kinetic energy switching” is still accelerating.
In terms of strategy, Ai Feng ushered in the spring transition from {600109 to} strategy, said Ai Feng, a senior analyst. First, the core market factors affecting US stocks may gradually shift from policy and event shocks to performance driven; Secondly, China’s wide credit environment continues to be verified, as well as the landing of uncertain performance. These factors are expected to drive A-Shares upward in the medium term and out of the independent market.
AI Xiongfeng also said that in the face of the relative low level of current market sentiment, investors can be more optimistic, and the market rhythm may show an n-shaped upward trend; In terms of market style, there is a downward profit cycle, high growth is scarce, and growth stocks are relatively dominant.
Su Chen talks about the future construction of Sinolink Securities Co.Ltd(600109) Research Institute
As one of the seller’s research institutes with the longest history in China, Sinolink Securities Co.Ltd(600109) Research Institute has won various awards for many times from 2008 to 2012, which has been highly praised by the industry. After the transformation into high-quality products, Suchen’s new appointment once again makes the industry look forward to the future of Sinolink Securities Co.Ltd(600109) Research Institute.
Su Chen said in an exclusive interview with Shanghai Securities News that Sinolink Securities Co.Ltd(600109) Research Institute will carry out top-down 3.0 reform from the group company level. On the basis of doing a good job in research, it will continue to increase industry coverage, expand team members and strengthen market influence.
at the level of research business, Su Chen said that Sinolink Securities Co.Ltd(600109) Research Institute will focus on a number of businesses: first, connect the upstream and downstream of the industrial chain in an all-round way, verify each other, and develop joint reporting products between different industries; Second, deeply excavate the underlying data, empower various industries through professional data teams, strengthen the integration of various industries and data teams, and draw distinctive report conclusions; Third, cooperate with investment banking and other businesses to create characteristic brands such as “specialized, special and new” and small and medium-sized market capitalization.
For the construction of research talents, Su Chen said that he would use the perfect training system to strengthen the training of emerging analysts and constantly expand the team size. “In a year or so, we will expand the team of researchers to more than 160 and the scale of the comprehensive team to more than 300.”
In addition, Su Chen also mentioned that Sinolink Securities Co.Ltd(600109) Institute has undertaken relatively few large-scale strategy meetings in the process of boutique, and will gradually strengthen the holding of large-scale strategy meetings, industry special reports and exchange meetings of Listed Companies in the later stage; At the same time, with the continuous precipitation of the research team, the exposure of research products will also be strengthened.
Looking ahead, Su Chen said that he would continue to build the market influence and pricing power of Sinolink Securities Co.Ltd(600109) Research Institute, and strive to improve the market influence through external selection and other means. “With the strong support of the company from top to bottom, we hope Sinolink Securities Co.Ltd(600109) Research Institute can return to the top three in the industry and reproduce the glory of that year.”
