Today (March 1), the three major A-share indexes walked out of the small V-shaped trend. The Shanghai and Shenzhen stock markets opened high in the morning and fluctuated. There was a decline in the session. It stabilized and rebounded again in the afternoon, and rose slightly in the end. From the disk, “white horse consumption” returns, “drinking and eating meat” market reappears, new and old infrastructure sectors jointly attack, and local profit-making effects still exist.
In this regard, Ping An Securities said that the A-share market is still dominated by shocks, but structural opportunities are expected to increase, and the overall performance will be better than that in February. After March, with the release of economic data, the policy statements of the two sessions and the performance of listed companies, the uncertainty of the market will gradually decrease and the bottom of the market will be closer and closer.
At the same time, structurally, the agency further put forward suggestions, focusing on the energy and chemical sector that benefits from the expected catalysis of rising energy prices, and the policy direction represented by information + green energy new infrastructure.
sector:
I. infrastructure
Minsheng Securities said that “stability” is the main theme of 2022. As an important means to ensure China’s steady economic growth, the investment growth rate of the infrastructure industry is expected to stabilize and recover. Among them, municipal construction, petrochemical and natural gas pipelines, engineering facilities and power demand will help usher in the explosion of pipe demand. With the mild production restriction of steel mills, the steel price has dropped significantly compared with the peak, and the profits of pipe enterprises are expected to be further thickened.
In terms of investment suggestions, infrastructure construction helps the demand for pipes, and the production restriction of steel mills tends to be moderate, which leads to the downward movement of costs and thickens the profits of pipe mills. The objects of benefit include: Tianjin You Fa Steel Pipe Group Stock Co.Ltd(601686) (increased output, favorable demand of water conservancy policy and lower cost), Zhejiang Kingland Pipeline And Technologies Co.Ltd(002443) (explosion of oil and gas pipeline demand, higher gross profit margin and lower cost), Xinxing Ductile Iron Pipes Co.Ltd(000778) (higher gross profit margin, favorable demand of water conservancy policy and lower cost).
In addition, The Pacific Securities Co.Ltd(601099) securities mentioned that under the influence of global uncertainties, the recovery trend of infrastructure investment is highly deterministic, leading enterprises in subdivided industries are abundant in orders and have strong risk resistance. Investment opportunities for earthquake mitigation and isolation under high-quality development: long-term efforts have been made in disaster prevention and mitigation, legislation has been passed, and 20-30 times of space can be expected. Relevant targets such as Quakesafe Technologies Co.Ltd(300767) , Zhejiang Tiantie Industry Co.Ltd(300587) “transportation power” and rail transit sector have long-term benefits: there is a broad demand for the construction of “Urban Agglomeration” on the track, and relevant targets such as Zhejiang Tiantie Industry Co.Ltd(300587) , China Railway Group Limited(601390) , China Railway Construction Corporation Limited(601186) ; Under the expectation of the improvement of China’s infrastructure investment margin in the second half of the year, it is suggested to pay attention to the opportunities related to the industrial chain: pay attention to the undervalued targets China State Construction Engineering Corporation Limited(601668) , China Railway Construction Corporation Limited(601186) , China Railway Group Limited(601390) ; Leading infrastructure enterprises with steady main business and mineral resources: Metallurgical Corporation Of China Ltd(601618) , China Railway Group Limited(601390) ; Under the background of dual control of energy consumption, high-quality targets in green power, BIPV and other related fields: Sinosteel Engineering & Technology Co.Ltd(000928) , Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) , Sinoma International Engineering Co.Ltd(600970) .
II. Calculation from the east to the West
Xiangcai securities mentioned that in 2020, the scale of China’s digital economy was US $5.4 trillion, ranking second in the world, with a growth rate of 9.6%, ranking first in the world. At present, the scale of China’s data center has reached 5 million standard racks, and the computing power has reached 130 eflops According to the prediction of the high technology department of the national development and Reform Commission, with the comprehensive and continuous penetration of digital technology into all economic and social fields, it will still grow rapidly at a rate of more than 20% every year. In 2020, the market scale of China’s Internet Data Center (IDC) has reached 223.8 billion yuan, a year-on-year increase of 43.3%.
With the continuous breakthroughs in modern information technologies such as the Internet, big data, artificial intelligence and cloud computing, the digital economy is advancing in an all-round way in China. As the core productivity of the digital economy, computing power will be the new focus of the next global strategic competition. The positioning of the data center has changed, from information service and Internet to infrastructure for the whole society, and gradually towards openness. In order to effectively support the digital transformation in various fields and provide new momentum for high-quality economic and social development. Through the East-West layout of computing facilities, it can drive the effective transfer of relevant industries and inject new impetus into the transformation and development of the western region. “Counting from the east to the west” is not only a landing project for the development of digital economy, but also an important item of new infrastructure. It will become an important starting point for steady economic growth.
Zheshang Securities Co.Ltd(601878) said that the project of “counting from east to west” requires to promote the echelon layout of the data center from east to west. The eastern hub is mainly located at the nodes with large service users and strong application demand; The western hub is committed to building a national non real-time computing power guarantee base. “Counting from the east to the west” project generally focuses on the layout of large and super large data centers to relatively rich areas such as renewable energy. In urban areas, development space is reserved for edge data centers with low delay requirements.
The agency further analyzed that “counting from the east to the west” will directly drive the whole industrial chain of the data center, in which we mainly focus on the following links and opportunities of related targets. Temperature control system: Shenzhen Envicool Technology Co.Ltd(002837) , Guangdong Shenling Environmental Systems Co.Ltd(301018) , Nanjing Canatal Data-Centre Environmental Tech Co.Ltd(603912) , Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) etc; Power system: Shenzhen Kstar Science & Technology Co.Ltd(002518) , Kehua Data Co.Ltd(002335) etc; IDC operators: Shanghai Athub Co.Ltd(603881) , Kehua Data Co.Ltd(002335) , Guangdong Aofei Data Technology Co.Ltd(300738) , Shanghai Baosight Software Co.Ltd(600845) , Ucloud Technology Co.Ltd(688158) , Business-Intelligence Of Oriental Nations Corporation Ltd(300166) , China Mobile, China Telecom Corporation Limited(601728) , China United Network Communications Limited(600050) , etc; Cloud network integration: telecom operators, Unisplendour Corporation Limited(000938) , Ucloud Technology Co.Ltd(688158) , Sangfor Technologies Inc(300454) , Qingcloud Technologies Corp(688316) , etc; It equipment / light module / light module: it equipment / light module / light module:: 0 Shenzhen Zhenye(Group)Co.Ltd(000006) 3 \\\\\\\\\\\\\\\\\\\\\\ / module of it device / light module:: ofit device / light module / light module: 0000 Shenzhen Zhenye(Group)Co.Ltd(000006) 3\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ etc; Autonomous Control and safety: Beijing Vastdata Technology Co.Ltd(603138) , Dawning Information Industry Co.Ltd(603019) , Hangzhou Dptech Technologies Co.Ltd(300768) , Zte Corporation(000063) , Unisplendour Corporation Limited(000938) etc.
one drawing summary:
