Key investment points:
Market review last week
Last week, Shanghai and Shenzhen light industry won the manufacturing industry (- 1.04pc vs 300t%); The top five weekly gains of individual stocks were: packaging and printing – Shenzhen Prince New Materials Co.Ltd(002735) (13.24%), Guangdong Tengen Industrial Group Co.Ltd(003003) (12.65%), Xi’An Global Printing Co.Ltd(002799) (10.63%), Huangshan Novel Co.Ltd(002014) (7.80%) and Zhuhai Zhongfu Enterprise Co.Ltd(000659) (6.61%); Household products – Jialian Technology (13.54%), Qumei Home Furnishings Group Co.Ltd(603818) (12.83%), Everjoy Health Group Co.Ltd(002162) (12.07%), Nanjing Olo Home Furnishing Co.Ltd(603326) (9.69%) and Keeson Technology Corporation Limited(603610) (5.76%); Papermaking – Mcc Meili Cloud Computing Industry Investment Co.Ltd(000815) (61.21%), Xianhe Co.Ltd(603733) (5.07%), Hangzhou Huawang New Material Technology Co.Ltd(605377) (5.06%), Quzhou Wuzhou Special Paper Co.Ltd(605007) (4.28%) and Shandong Sun Paper Co.Ltd(002078) (4.05%); Entertainment supplies – St Qunxing (3.81%), mubang high tech (3.44%), Zhejiang Natural Outdoor Goods Inc(605080) (1.71%), Cre8 Direct (Ningbo) Co.Ltd(300703) (0.71%) and Impulse (Qingdao) Healthtechco.Ltd(002899) (- 0.72%).
This week’s view
Household goods: in the middle of last week, mortgage interest rates in many places loosened, and the mainstream mortgage interest rates in 87 key cities decreased month on month. On the other hand, the Ministry of housing and urban rural development said that it is expected to raise 2.4 million affordable rental housing units (942000 units in 21 years), 100000 new public rental housing units and 1.2 million shantytowns throughout the year. In the context of “housing without speculation”, this year may present a regional real estate deregulation policy according to local conditions, or give priority to the loosening of second and third tier cities, and the probability of “xiaoyangchun” of structural real estate will continue to increase. It plays a positive role in improving the demand of home market.
Packaging and printing: on February 22, the four ministries and commissions jointly issued the special work plan for cleaning up and rectifying the sale of e-cigarettes to minors and severely cracking down on crimes involving e-cigarettes. The process of compliance development of e-cigarette industry is approaching, and the special action promotes the development in the direction of standardization and standardization. In the short term, the special action may cause some pressure on the valuation, but the overall environment has warmed up, and the callback allocation opportunities deserve attention.
Papermaking: affected by the escalation of the “Russia Ukraine conflict” and pushing up energy prices, the international pulp price rose, which led to the strengthening of China’s pulp futures price, which was close to 6800 yuan / ton. At the same time, in March, the peak demand season for cultural paper is gradually approaching. Under the cost pressure, the paper mill will be driven to raise the price, and the price rise letter is expected to be strong, which is expected to improve the Q1 month on month profitability of paper enterprises.
Recommended combinations: Oppein Home Group Inc(603833) ( Oppein Home Group Inc(603833) ), Jason Furniture (Hangzhou) Co.Ltd(603816) ( Jason Furniture (Hangzhou) Co.Ltd(603816) ), Shenzhen Jinjia Group Co.Ltd(002191) ( Shenzhen Jinjia Group Co.Ltd(002191) ), Shanghai M&G Stationery Inc(603899) ( Shanghai M&G Stationery Inc(603899) ).
This week’s event reminder
Guangdong Songfa Ceramics Co.Ltd(603268) : convening of the general meeting of shareholders Shanghai Baosteel Packaging Co.Ltd(601968) : lifting the ban
Mengtian home: general meeting held Shandong Yuma Sun-Shading Technology Corp.Ltd(300993) : general meeting held
Risk tips
Macroeconomic fluctuations; Rising raw material costs; New production capacity cannot be digested in time; Loss of key customers.
