Index
On Tuesday, March 8, 2022, as of the closing, the Shanghai Composite Index fell 2.35% to 329353 points, the Shenzhen composite index fell 2.62%, the gem index fell 1.80%, and the turnover of the two markets reached 1109.9 billion.
Comments
Today, all sectors showed a general decline, mainly due to the continued tension in Russia and Ukraine, leading to the continuous rise of commodity prices and the escalation of short-term market panic. However, in the long run, China’s economy has a good foundation and conditions to operate within a reasonable range and has a certain degree of independence. After the panic, we are still optimistic about the investment main line of “stable growth”. The two sessions are being held, and the construction of digital economy and new energy in new infrastructure has become a hot topic. At the same time, local governments are successively promoting the planning and implementation of a number of key new infrastructure projects. For example, Inner Mongolia issued opinions on promoting the high-quality development of wind power photovoltaic new energy industry in the whole region, which pointed out that the access standards should be strict; Shandong Provincial Energy Bureau announced that in 2022, the installed capacity of new and renewable energy power generation will reach more than 70 million KW, and the investment in energy infrastructure will be more than 240 billion yuan; Hainan Yangpu will build a 10 billion offshore wind power industrial park; The project of “full coverage of 220 kV power grid in counties” in Guizhou has been fully started, etc. Judging from the current speed of approval and implementation of various new infrastructure projects, the new infrastructure has begun to make efforts and gradually shows a trend of flowering in many places. Even if the disturbance factors of the external environment exist, the new infrastructure sector is expected to go out of a unique market.
Industry dynamics
On the morning of March 6, three state-owned enterprises, China Dongfang Electric Corporation Limited(600875) Group Co., Ltd., China Datang Hainan Energy Development Co., Ltd. and China Power Construction Group Shandong Electric Power Construction Third Engineering Co., Ltd., signed the cooperation agreement on Hainan Yangpu Offshore Wind Power Industrial Park in Yangpu, relying on the capital, technology, manufacturing and sales chain advantages of the three state-owned enterprises in the field of energy, Jointly lay out the whole industrial chain of offshore wind power and build a 10 billion offshore wind power manufacturing industrial cluster base in Yangpu. At the same time, relying on the policy of Hainan free trade port and the advantages of Yangpu Port Area, as well as the strategic opportunity of the integrated development of Danzhou and Yangpu, the three parties will jointly build an export-oriented high-end manufacturing industry cluster and increase the export trade volume of Yangpu Port with the development idea of “based on Danyang, serving Hainan, radiating Southeast Asia and facing the world”. (Hainan Daily)
Company dynamics
Guangdong No.2 Hydropower Engineering Company Ltd(002060) ( Guangdong No.2 Hydropower Engineering Company Ltd(002060) ): Announcement on the suspension of planning major asset restructuring: Guangdong No.2 Hydropower Engineering Company Ltd(002060) is planning to issue shares to purchase 100% equity of Guangdong Construction Engineering Group Co., Ltd. held by Guangdong Construction Engineering Group Holding Co., Ltd. and raise supporting funds through non-public offering of shares. At present, the main business of China Construction Engineering Group is construction engineering, construction related industries (construction scientific research, technical services, equipment and materials and construction services), water conservancy management and hydropower generation. (iFinD)
Risk warning: the macro policy is not as expected; Raw material prices rose more than expected.
