Index
On Thursday, February 24, 2022, the Shanghai stock index opened low in the morning and fluctuated in a narrow range. In the afternoon, the volume fell sharply, and the intraday fell by more than 2%; The Shenzhen Component Index and the gem index both fell sharply in the afternoon, once falling more than 3%, and the decline of the three major stock indexes narrowed in the late trading. As of the closing, the Shanghai Composite Index fell 1.70% to 3429.96 points, the Shenzhen composite index fell 2.20%, the gem index fell 2.11%, and the turnover between the two cities reached 1362.7 billion. In terms of sectors, oil and gas exploitation, precious metals, gas and military industry rose against the market, and the infrastructure sector weakened across the board.
Comments
At noon today, the situation in Ukraine and Russia suddenly deteriorated. In the afternoon, the market immediately dived, and the risk aversion Plate Strengthened in an all-round way. The recent situation in Ukraine and Russia and the Fed’s interest rate hike have always been disturbing factors to interfere with the market. The market has experienced too many repeated losses. The expectation of raising interest rates on one boot is not much different from the landing today. It can be said that the fermentation of unknown factors has been completed, and the risks in the later market become limited. In the long run, if the conflict between Ukraine and Russia does not expand, the impact on China’s economy will be relatively limited. As the market panic fades, the market decline is expected to slow down or even stop rising.
Today’s news of sudden changes in the situation between Ukraine and Russia is a rare touchstone for the market. Good companies do not need to worry about short-term fluctuations. Traditional infrastructure and related stocks in the upstream and downstream industries have suffered a big decline today. The reason is that the wave of traditional infrastructure construction has been rising before. Many companies have been rubbing up with policies and hot news. The stock price has been bubbled, and there has been a downward trend in recent trading days. We have repeatedly pointed out in the recent Sichuan finance research: core data tracking of infrastructure industry chain that we believe that this round of rise of stable growth concept stocks represented by traditional infrastructure is not driven by the industrial development trend, but a comprehensive result of undervaluation, loose macro policies and passive capital selection, This is not the core to judge whether the company has configuration value.
Industry dynamics
1. On February 22, Zhanhe District, Pingdingshan City signed a strategic cooperation agreement with Pinggao group, Henan Longyuan New Energy Development Co., Ltd. and Pingdingshan Huachen Power Group Co., Ltd. According to the agreement, Zhanhe District agreed that the participating enterprises should carry out new energy development and investment, development and construction of regional smart energy system within the jurisdiction, make overall planning for the proposed development area of Zhanhe District, and rely on their own advantageous resources to mainly carry out clean energy development, energy-saving transformation of public buildings, energy trusteeship of hospitals and schools, and smart charging and replacement. (Zhanhe government network)
2. Recently, AVIC lithium battery project of Chengdu new energy plant undertaken by China Construction Second Engineering Bureau has been fully started. The project is located in the economic development zone (Longquanyi District) of Chengdu, Sichuan Province, with a total construction area of 124000 square meters. The construction content mainly includes production supporting houses, activity centers, etc. As a key project in Sichuan Province in 2022, after the completion of the project, it will fill the gap in the high-end manufacturing industry of new energy vehicle power batteries in Chengdu, promote Chengdu to establish and improve the power battery industry ecological chain and build a new energy industry system. ( China State Construction Engineering Corporation Limited(601668) official website)
Company dynamics
Within 18 months after the announcement of the shareholders of Sichuan Securities Investment Group Co., Ltd. (hereinafter referred to as “Sichuan Securities Exchange”) on increasing their holdings of shares (hereinafter referred to as “Sichuan Securities Exchange”) through the trading of shares of Sichuan Securities Investment Group Co., Ltd. (hereinafter referred to as “Sichuan Securities Exchange”) in 2021: 671}, The cumulative shareholding increase ratio shall not be less than 0.5% of the total share capital of the company. On January 18, 2022, Sichuan Investment Group extended the performance period of this shareholding increase plan for 12 months (i.e. the extended period is from January 18, 2022 to January 17, 2023)
Risk warning: the macro policy is not as expected; The price rise of raw materials exceeded expectations; Financial expenditure is lower than expected.
