Recently, the Sinolink Securities Co.Ltd(600109) 2022 Investment Strategy Summit with the theme of “Shouzheng innovation Nuggets transformation” opened in Shanghai. Su Chen, director of Sinolink Securities Co.Ltd(600109) Research Institute, said in an interview with the reporter of China Securities Journal that in the future, he will continue to practice the 3.0 reform of the Institute, double the recruitment of analysts in a year, and increase the total number of researchers to more than 300; We will continue to make efforts to open up the industrial chain in an all-round way, develop the advantages of underlying data, and strengthen cooperation with corporate investment banks and PE.
In order to better match the characteristics of the research industry and the development needs of the company, Sinolink Securities Co.Ltd(600109) Research Institute is currently carrying out 3.0 reform – the research institute has been transformed into the cost center of the company. In addition to continuing to strengthen and deepen the service to external customers, within Sinolink Securities Co.Ltd(600109) , “research is driven” is one of the explanations of Guojin’s strategy and a manifestation of the importance attached to research business.
practice Institute 3.0 reform
Su Chen said that Sinolink Securities Co.Ltd(600109) Research Institute has a long history and is one of the earliest research institutes in the market. It has precipitated a group of excellent early analysts and laid a solid foundation for the Research Institute. In the past few years, the Sinolink Securities Co.Ltd(600109) Research Institute has been guided by pure Commission distribution. Now the reform of institute 3.0 is a top-down reform from the company level.
“On the basis of solid research, we will gradually strengthen the market influence and continuously expand the team members. At present, the allocation of total research has been relatively strong since Zhao Wei, the chief economist, joined. The industry research covers almost the whole industry. In the future, you will see that many analysts will be in place one after another.” According to Su Chen, Sinolink Securities Co.Ltd(600109) Research Institute now has 890 researchers and plans to expand to more than 160 in about a year. With the sales team and comprehensive team, the total number of researchers of the Institute is planned to grow from more than 200 to more than 300.
At the same time, Sinolink Securities Co.Ltd(600109) Research Institute also released the salary incentive management system for researchers who match the era of institute 3.0 and the strategic objectives of Guojin; It changes the traditional pure short-term evaluation and establishes a comprehensive performance evaluation mechanism combining short-term and medium-term.
start to research business from three aspects
According to the introduction of Sinolink Securities Co.Ltd(600109) , the goal of this research business 3.0 transformation emphasizes that researchers should return to the source of research and become researchers with “pricing ability”. The Institute has made adjustments in terms of salary, organizational structure of research team and rank promotion. At the same time, it has carried out all-round reforms in terms of talent training and platform empowerment.
Looking forward to the future, Su Chen said that he would start from three aspects for the development planning of the Institute. First, the industrial chain will be opened up in an all-round way and verified with each other. Subsequently, many industries will jointly release reports and products and jointly do relevant activities and meetings.
Second, develop the underlying data advantages, Sinolink Securities Co.Ltd(600109) a professional data team can empower research in various industries.
Third, we cooperated with the company’s investment bank and PE. The investment bank business of Sinolink Securities Co.Ltd(600109) has very strong advantages, recommended many excellent private enterprises, and created a characteristic brand serving small and medium-sized market value enterprises in specialized and new fields. Therefore, the cooperation between the Research Institute and investment banks and the tracking of investment bank sponsorship projects will be closer and closer.
now is a good opportunity to invest in the new energy sector
Su Chen has officially joined the Sinolink Securities Co.Ltd(600109) institute since the beginning of this year and served as the director of the Institute. At the same time, he also has his own unique views on the new energy industry.
Su Chen pointed out in an interview that now is a good opportunity for investment in the new energy sector. From the perspective of research, we should grasp the main contradiction according to the prosperity. If more and more factors are included, we will make a lot of wrong judgments. We can put aside some liquidity, macro factors and other issues. Equity investment is reasonable whether it is buying, holding or adding positions.
From the perspective of industry development, Su Chen believes that China’s development of new energy started relatively early. The new energy industry is essentially a manufacturing industry, so new energy should now be a business card of China’s manufacturing industry, including photovoltaic, wind power, electric vehicles, batteries and materials. China has stepped out of the world-class leading companies in various sub sectors, and China is in the forefront of the world in the whole category of big new energy.
“The new energy industry is a typical cyclical growth sector. In the process of development, the key indicator is prosperity, which is a comprehensive indicator, including the orders of new energy vehicles and the production and sales of downstream terminal vehicles.” Su Chen pointed out that to judge the industry like judging the water temperature, the new energy sector will fluctuate every year, so the callback of leading companies is divided into two categories. First, the boom began to cool from a very high “temperature”, and the data began to decline month on month, which indicates that the sector of the previous wave of investment may encounter major adjustments, and it is necessary to judge the time point when the outlook will rise again in the next round. Second, when the prosperity is still maintained at a high level, due to the problem of market style, market adjustment, reduced risk appetite and sector rotation, the new energy sector has fallen, and there may be more opportunities to increase positions.
