Today (December 24), A-Shares opened high and went low. In the morning, the stock index showed a pulse downward and maintained a weak pattern in the afternoon. On the disk, in the industry, traditional Chinese medicine led the rise, while commercial department stores, chemical pharmaceuticals, food and beverage, tourism hotels and so on rebounded slightly; Energy metals, power supply equipment, wind power equipment, complete vehicles and shipbuilding led the decline. In terms of subject stocks, the concept of traditional Chinese medicine, NFT concept and community group purchase led the rise, while solid-state batteries, lithium extraction from salt lakes, titanium dioxide, fluorine chemical industry and rare earth permanent magnet led the decline.
the retail sector rose Doctorglasses Chain Co.Ltd(300622) and exceeded the daily limit of 1 6 % Sanjiang Shopping Club Co.Ltd(601116) and so on
The retail sector rose intraday on the 24th. As of press time, Doctorglasses Chain Co.Ltd(300622) rose by more than 16%, Xinjiang Youhao(Group)Co.Ltd(600778) , Sanjiang Shopping Club Co.Ltd(601116) limit, Nanning Department Store Co.Ltd(600712) , Jiajiayue Group Co.Ltd(603708) , Chengdu Hongqi Chain Co.Ltd(002697) and other gains were higher.
For the retail sector, Shanghai Securities pointed out that in 2021, the epidemic situation was disturbed frequently, the operation of offline supermarket department stores continued to be under pressure, and the prosperity of gold jewelry and professional chains was high; Affected by antitrust regulation and the fading of flow dividends, the e-commerce industry has differentiated its leading performance and slowed down its marginal growth. In the short term, with the weakening of the impact of the epidemic, consumer confidence is expected to recover, and retail sales may be at an inflection point; In the long run, the trend of common prosperity and consumption upgrading has not changed, and the online trend of physical goods has not decreased. We look forward to the driving effect of new retail formats on the recovery.
Looking forward to 2022, retail may continue to present a differentiated market, look for structural highlights and look forward to bottom recovery. The agency suggested paying attention to the industry leaders whose fundamentals are expected to achieve steady growth after the epidemic weakened next year: on the one hand, the gold and jewelry sector has continued the recovery trend and high momentum since the beginning of the year, and the industry leaders will benefit from the rapid growth of the wedding market brought by the consumption recovery in the short term in the future, Benefiting from the leading brand dividends brought by the improvement of industry concentration under the background of common prosperity + the rise of the tide of Nations for a long time, we pay attention to Chow Tai Seng Jewellery Company Limited(002867) to achieve further scale expansion through the provincial generation model and Lao Feng Xiang Co.Ltd(600612) and Chow Tai Fook to actively layout the sinking market.
On the other hand, the offline traditional retail sector is struggling to recover, looking for high prosperity areas with business toughness. The regional convenience store leader Chengdu Hongqi Chain Co.Ltd(002697) operates steadily with marginal improvement in fundamentals. It may provide a more convenient, convenient and convenient shopping experience through encryption of exhibition stores and business model expansion to resist the impact of new formats. The new model of warehouse member stores is in the ascendant, overseas brands are adding weight to the Chinese market, and Chinese brands are entering one after another. Yonghui and Jiajiayue Group Co.Ltd(603708) will accelerate the layout by transforming the existing stores, and the new business form may enter a stage of rapid development; The high luxury retail market bucked the trend, and the epidemic promoted the return of high-end consumption. With the upgrading of consumption and the increase of residents’ disposable income, the track has great potential for future development.
the trend of food and beverage sector was active Juewei Food Co.Ltd(603517) the daily limit Chacha Food Company Limited(002557) and so on rose
The food and beverage sector had an active intraday trend on the 24th. As of press time, Juewei Food Co.Ltd(603517) rose by the limit, Chacha Food Company Limited(002557) , Suzhou Weizhixiang Food Co.Ltd(605089) , Qingdao Richen Food Co.Ltd(603755) , Shanghai Laiyifen Co.Ltd(603777) , Namchow Food Group( Shanghai) Co.Ltd(605339) , Shandong Bailong Chuangyuan Bio-Tech Co.Ltd(605016) and so on.
Caixin Securities pointed out that at present, the price rise is actively transmitted, and the marginal relaxation of macro policy is conducive to the recovery of demand. The bottom of mass products has passed, and all sub industries will return to the profit upward channel next year. In the process of reshuffle of the industry, the leaders actively respond to consolidate their advantages and are expected to take the lead in confirming the improvement of fundamentals. The intensive announcement of price increase at the end of the year has promoted the first round of rise in the mass products sector. From historical experience, the rise at this stage belongs to the performance repair, which is expected to drive the valuation repair. Later, it will enter the verification stage of performance improvement. With the confirmation of the upward fundamentals of the industry and the company, the board will rise more sharply and for a longer time, At present, the quality targets of mass food are still offensive, and it is expected to meet the demand in 2022.
For the leisure food industry, looking forward to next year, after two years of contrarian store taking, the operation of single store end next year is still very important, which is expected to focus on the performance results of accelerating the opening of stores in the past two years. Some enterprises mainly facing the business supermarket channel actively adjust in the face of the channel reform. It is suggested to pay attention to the performance reversal brought by the channel reform. At the same time, the head brands of individual subdivided categories have raised prices this year, and it is suggested to pay attention to the scissors difference between the price increase and the price increase of raw materials.
In the condiment industry, looking forward to 2022, if the prices of raw materials and energy fall, condiment enterprises can obtain greater profit elasticity. Quick frozen food: the trend of catering chain is obvious, and the demand for quick-frozen semi-finished products at the catering end will be increasingly strong in the future. With the rapid development of the prefabricated vegetable industry, it can not only serve consumers, but also reduce costs and increase efficiency for businesses. With the continuous rise of labor and rental costs, the demand for frozen baking products accelerates, and there is room for channel sinking and category extension.
multiple positive and supportive traditional Chinese medicine plate continued to rise Tianjin Chase Sun Pharmaceutical Co.Ltd(300026) and other five shares rose by the limit
On December 24, the traditional Chinese medicine sector continued to rise. As of press time, Tianjin Chase Sun Pharmaceutical Co.Ltd(300026) , Jinghua Pharmaceutical Group Co.Ltd(002349) , Guangxi Wuzhou Zhongheng Group Co.Ltd(600252) , Kunming Longjin Pharmaceutical Co.Ltd(002750) and other five stocks rose, and Xiangxue Pharmaceutical Co.Ltd(300147) , Shanghai Kaibao Pharmaceutical Co.Ltd(300039) , Zhejiang Xinguang Pharmaceutical Co.Ltd(300519) followed. In terms of news, recently, according to the work deployment of the Hubei provincial Party committee and the provincial government and the work arrangement of the National Medical Insurance Bureau, Hubei Province took the lead in forming an inter provincial alliance with 18 provinces (cities, autonomous regions and Xinjiang production and Construction Corps) such as Hebei, Shanxi and Inner Mongolia to hold a centralized procurement information disclosure conference in Han and jointly carry out centralized procurement of Chinese patent medicines. Through on-site competition, 97 enterprises and 111 products were selected, and the average price of selected drugs decreased by 42.27% and the maximum decreased by 82.63%.
Citic Securities Company Limited(600030) believes that since January 2019, due to the unexpected impact of industrial policies and terminal sales data, the traditional Chinese medicine sector has been significantly lower than the pharmaceutical index and other sub sectors, and the current valuation is at the bottom of history. At the end of the year, when high valuation sectors such as CXO in the pharmaceutical sector continued to callback, the value of the traditional Chinese medicine sector was highlighted as a haven for undervaluation. In the short-term TCM sector, the logic of drug price rise will continue to benefit from policy promotion, innovation and R & D and consumption upgrading in the medium and long term.
Open source Securities said that the traditional Chinese medicine industry is supported by policies and has the ability to determine performance growth and valuation cost performance. In terms of policy, traditional Chinese medicine, as a kind of drugs with Chinese characteristics, has been supported by national policies. In terms of performance, in 2021, many brand OTC enterprises of traditional Chinese medicine formulated equity incentive plans and set higher assessment objectives, resulting in great certainty of performance growth. In terms of valuation, based on the annualized profit in the first three quarters of 2021, the PE of traditional Chinese medicine sector is 27 times, which is lower than 30 times of the overall pharmaceutical and biological industry. Therefore, it has the valuation cost performance in the pharmaceutical and biological sub industry, and the traditional Chinese Medicine sector is mainly recommended.
Huawei folding screen mobile phone P50 pocket was officially released. It is expected that the market scale will grow explosively (with shares)
On the afternoon of December 23, Huawei held its winter flagship new product launch and officially released its first vertical folding mobile phone Huawei P50 pocket. It is reported that the Huawei P50 pocket adopts the up-down folding design, combined with the new generation of water drop hinge and multi-dimensional linkage lifting technology, which can realize seamless folding. It is equipped with a 6.9-inch large screen and Hongmeng operating system. It has three colors: Crystal Diamond White, obsidian black and gilt gold, and supports 40W Hua as super fast charging. P50 pocket can realize innovative interactive experience through the external screen, and can realize the operation of main functions such as notification, schedule, music, weather and payment without expansion.
Mobile phone manufacturers have entered the market, and a hundred flowers bloom in the folding screen mobile phone market. China International Capital Corporation Limited(601995) pointed out that in the past, limited by the technical level, folding screen mobile phones performed poorly in basic performance such as creases and weight, so consumers did not fully feel the experience upgrading brought by folding screen mobile phones. The upgrade of folding screen mobile phones is not only the large screen, but also the efficiency upgrade brought by different modes such as large screen, split screen and hover, which solves the problems that ordinary single screen mobile phones cannot solve, such as film viewing, reading experience and dual screen operation, and will become a key innovation to break the bottleneck of mobile phone iteration. Folding screen mobile phones bring consumers not only screen enlargement, but also efficiency upgrading and experience optimization. They are optimistic about the driving effect of breakthrough innovation brought by folding screen mobile phones on consumers’ purchase enthusiasm.
Southwest Securities Co.Ltd(600369) believes that the hinge structure of folding screen mobile phone has a great impact on the closure degree, crease effect and body thickness. In order to improve the user experience, the hinge has become an important direction for the upgrading of folding screen mobile phone manufacturers. With the large volume of folding screen mobile phones and the upgrading of U-shaped hinge structure to water drop hinge structure, the price of MIM process hinge structure and the consumption of single machine will increase significantly in the future. In addition, MIM manufacturers are expected to further participate in the hinge assembly of domestic android brand folding screen mobile phones, so as to further improve their stand-alone value and overall market space. It is estimated that by 2023, the hinge market scale of folding screen mobile phones is expected to reach more than 6 billion yuan, and the market scale of MIM structural parts is expected to reach 2 billion yuan. With the continuous improvement of the penetration rate of folding screen mobile phones, the hinge market space will be huge in the future. Pay attention to the investment opportunities of hinge supply chain, focusing on Jiangsu Gian Technology Co.Ltd(300709) , Nbtm New Materials Group Co.Ltd(600114) .
three main investment lines (with shares) suggested by the release agency of the “14th five year plan” railway scientific and technological innovation plan
According to the news on the website of the State Railway Administration on December 23, the State Railway Administration recently issued the “14th five year plan” for railway scientific and technological innovation, which defines the guiding ideology, basic principles, development objectives and key tasks of China’s railway scientific and technological innovation during the 14th five year plan period. The plan is the first five-year development plan on scientific and technological innovation in China’s railway field. It is of great significance to promote the self-reliance of Railway Science and technology, promote the high-quality development of railway, and support the construction of a powerful country in science and technology and transportation.
The plan specifies that by 2025, the railway’s innovation ability and scientific and technological strength will be further improved, the technical equipment will be more advanced and applicable, the engineering construction technology will continue to be in the lead, the technical level of transportation services will be significantly enhanced, the intelligent railway technology will make a comprehensive breakthrough, the safety assurance technology will be significantly improved, the green and low-carbon technology will be widely used, the innovation system will be more perfect, and the overall technical level will be in the lead in the world, It also puts forward seven main objectives, and looks forward to the long-term objectives of 2035.
Zheshang Securities Co.Ltd(601878) pointed out that from the perspective of the national railway market, the main value of the industrial chain is distributed in the whole vehicle, signal and control system and post market. About 88 vehicles need to be purchased per 100 km; The cost of the signal system in the new line is 10 million yuan per kilometer, while the reconstruction of the existing line is 16 million yuan per kilometer; The actual classification system of maintenance market is 9 million yuan / train for three-level maintenance, 18 million yuan / train for four-level maintenance and 36 million yuan / train for five-level maintenance. From the perspective of urban rail market, the main value of industrial chain is also mainly distributed in vehicle, signal and control system and post market. About 6 vehicles need to be purchased per kilometer; The cost of the signal system in the new line is 10 million yuan per kilometer, while the reconstruction of the existing line is 16 million yuan per kilometer; Operation and maintenance costs 25 million yuan per train.
The agency suggests three main investment lines: 1) undervalued vehicle leaders and core parts; 2) The first batch of high-speed railways began to enter the maintenance stage, and the companies with earlier layout in the post market; 3) Companies with large long-term incremental space for urban rail and high proportion of Urban Rail business. It is recommended to pay attention to the underestimated vehicle equipment leaders Crrc Corporation Limited(601766) , China Railway Hi-Tech Industry Corporation Limited(600528) ; Core parts manufacturers China Railway Signal & Communication Corporation Limited(688009) and Guangdong Huatie Tongda High-Speed Railway Equipment Corporation(000976) ; Benefit from Beijing Tianyishangjia New Material Corp.Ltd(688033) and China High-Speed Railway Technology Co.Ltd(000008) in the post high-speed rail market; Urban Rail business accounts for relatively high Traffic Control Technology Co.Ltd(688015) and Shanghai Huaming Intelligent Terminal Equipment Co.Ltd(300462) .
the Ministry of agriculture and rural areas emphasizes the in-depth implementation of the action to revitalize the seed industry and speed up the replenishment of the short board (attached shares) of agricultural machinery and equipment
According to the news on December 23, the Party group of the Ministry of agriculture and rural areas held a (expanded) learning exchange meeting of the theoretical learning center group of the Party group of the ministry from December 21 to 22. The meeting stressed the need to vigorously develop soybean oil, select excellent varieties, tap the area potential, promote new models such as corn and soybean strip compound planting, explore the compatible development path of corn and soybean, and continue to develop the winter fallow field in South China to expand the planting of rape. Focus on improving the comprehensive agricultural production capacity, complete the task of building 100 million mu of high-standard farmland next year with quality and quantity, strengthen the quality improvement and use control of cultivated land, deeply implement the action to revitalize the seed industry, speed up the replenishment of the shortcomings of agricultural machinery and equipment, and explore the establishment of a reasonable income guarantee mechanism for grain farmers.
Citic Securities Company Limited(600030) stressed that the central economic work conference pointed out that the rice bowl of the Chinese people should be firmly in their own hands at any time when the action to revitalize the seed industry is deeply implemented. The seed industry has entered a strong policy support cycle, which has been reconfirmed, and the strength and sustainability of the policy have been gradually improved. Benefiting from the continuous release of policy dividends, the seed industry sector will meet the period of strategic opportunities, and high-quality seed enterprises will receive policy support and resource preference. Superimposed on the reversal of industry prosperity and the industrialization of biological breeding, the seed industry will meet the expansion of market scale and the optimization of competition pattern, and the leading seed enterprises are expected to enter the rapid growth channel. Continue to focus on the seed industry, and recommend Beijing Dabeinong Technology Group Co.Ltd(002385) with biological breeding R & D advantages and Shandong Denghai Seeds Co.Ltd(002041) as the leader of hybrid maize seed industry with high-quality germplasm resources and variety resources.
In terms of the agricultural machinery industry, China Securities Co.Ltd(601066) pointed out that firstly, from the perspective of the total amount of subsidies, the amount of subsidies for the purchase of agricultural machinery in China from January to October 2020 reached 19.726 billion yuan, more than 18 billion yuan in 2019, which is the first rebound since 2017, indicating that China has increased its support for the agricultural machinery industry. Secondly, according to China No. 1 central document issued in February 21, 2021, China will increase the subsidy for agricultural machinery purchase in 14th Five-Year, and the total amount of future subsidies will still rise. The key directions of subsidies are green high-end agricultural machinery and agricultural machinery in Hilly and mountainous areas. This kind of agricultural machinery has high technical barriers and large R & D investment. Only leading enterprises have the technical and financial strength to carry out R & D and production. In the future, the subsidy resources will be further concentrated to the head enterprises, which will benefit the development of the head enterprises. Focus on Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) and pay attention to First Tractor Company Limited(601038) .
