On February 22, boosted by the issuance of heavy policy documents on the pension industry, Everjoy Health Group Co.Ltd(002162) , Shanghai Yimin Commercial Group Co.Ltd(600824) , Cosmos Group Co.Ltd(002133) , Shanghai Yanhua Smartech Group Co.Ltd(002178) and other pension concept stocks rose by the limit, while Guangdong Transtek Medical Electronics Co.Ltd(300562) , Yihua Healthcare Co.Ltd(000150) , Hengfeng Information Technology Co.Ltd(300605) and other stocks rose against the trend. Many institutions expect that the market scale of the pension industry will reach about 100 billion yuan in 2022. At present, many A-share listed companies have made in-depth layout. The market generally believes that the silver economic outlet is accelerating to open, and investment opportunities in multiple segments such as pension real estate, digital pension, pension medical care, education and entertainment for the elderly appear.
the pension industry has received heavy policy support
The State Council recently issued the national plan for the development of the cause of the elderly and the elderly care service system during the 14th Five Year Plan period, which puts forward the development objectives during the 14th Five Year Plan period, that is, the supply of elderly care services is expanding, the elderly health support system is more perfect, and defines nine main indicators, such as the total number of elderly care beds and the proportion of nursing beds in elderly care institutions. This is another heavy policy document related to the elderly care industry since the release of the opinions of the CPC Central Committee and the State Council on strengthening the elderly work in the new era on November 24 last year.
In recent years, China’s pension industry has maintained steady growth. Since 2018, China’s pension industry consulting data has continued to expand. The agency predicts that the market scale of the pension industry will reach 10.25 trillion yuan in 2022. CCID consultant also said that under the influence of factors such as the improvement of policies, the acceleration of population aging and the change of consumption concept of elderly groups, it is expected that the overall scale of China’s health and elderly care industry will reach 9.81 trillion yuan in 2022.
According to the reporter’s preliminary statistics, at present, dozens of A-share listed companies have set foot in the pension industry, many of which have carried out in-depth layout. These companies choose their familiar fields to cut in, and pension real estate, medical care integration and smart pension have become the main fields of the layout of these companies.
Real estate enterprises and insurance enterprises have become the main participants in the elderly care community. Insurance companies such as Ping An Insurance (Group) Company Of China Ltd(601318) , China Life Insurance Company Limited(601628) , China Pacific Insurance (Group) Co.Ltd(601601) have been involved, and relevant projects have been implemented quickly. According to the survey data of Taikang health investment, as of November 2021, insurance institutions have arranged the pension industry in 34 cities across the country, with a total of more than 130000 beds. The proportion of life insurance companies in China has reached 47%. Real estate enterprises mainly participate in pension real estate through the heavy asset operation mode of self built communities. Some real estate enterprises cooperate with the government to “build public and private” or use existing properties to provide the light asset operation mode of pension institutions. Many companies, such as Yihua Healthcare Co.Ltd(000150) , Everjoy Health Group Co.Ltd(002162) , Dima Holdings Co.Ltd(600565) , have laid out the layout of elderly care institutions, including nursing homes and apartments for the elderly.
Some listed companies focus on digital pension and intelligent pension. B-Soft Co.Ltd(300451) recently said that the company has promoted the layout of the smart elderly care market nationwide and continued to promote the R & D and implementation of elderly care cloud products; Hengfeng Information Technology Co.Ltd(300605) has said on the investor interaction platform that the company has developed the Internet plus cloud computing technology, which is closely linked with the health management needs, daily life needs, community services and government supervision and management. Ylz Information Technology Co.Ltd(300096) based on data link and integrating blockchain + and AI + technologies, bring digital technology and service solutions to personal health industry. Wonders Information Co.Ltd(300168) , Dhc Software Co.Ltd(002065) , Beijing Egova Co.Ltd(300075) and other companies also choose to cooperate with local governments to promote Internet plus pension.
institutions are optimistic about investment opportunities in subdivided tracks
At present, investment opportunities in several segments of the elderly care industry are promising, and the market focus is mainly on three directions: the first is the elderly care real estate and elderly care institution industry, the second is the elderly care medical care industry such as medical devices, nursing facilities and intelligent elderly care, and the third is the elderly education and entertainment industry such as online education and travel sports with social attributes.
In terms of pension real estate, Western Securities Co.Ltd(002673) said that at present, China still focuses on home-based pension. It is expected that the pension service system based on home-based pension, relying on community services and supplemented by institutional pension will be the main direction of pension in China in the future. Ping An Securities also believes that the development space of the pension real estate industry is worth looking forward to. It is expected that enterprises with strong capital strength, high operation service level and coordinated development of various pension business models are expected to stand out.
In addition, Zhang Yi, CEO and chief analyst of AI media consulting, said that the current rapid development of new infrastructure and the deep integration of technology and people’s livelihood services have ushered in the digital development opportunity of the elderly care industry. In the future, intelligent elderly care solutions based on the Internet of things, artificial intelligence and big data will become an important trend of industrial development.
In terms of medical care for the elderly, Tianfeng Securities Co.Ltd(601162) believes that, on the one hand, the aging population is superimposed with the improvement of payment ability and rehabilitation awareness, and the demand for rehabilitation is increasing; On the other hand, the state has successively launched policies to accelerate the development of the industry. The agency believes that the rehabilitation industry is still at an early stage of development, and relevant service and equipment providers have investment opportunities.
Looking forward to the development of education and entertainment industry for the elderly, Western Securities Co.Ltd(002673) Zhang Jingjing, chief Macro Analyst, said that with the increasing Internet penetration of the new generation of elderly groups, there may be a large development space for online elderly education platforms in the future. At the same time, tourism and sports for the elderly may usher in high growth. In addition. Various types of social places are specially designed for the elderly, which has great development space, such as the gym for the elderly. Online social networking also has certain development prospects, including various elderly interest discussion groups, elderly dating websites, etc.
