Peripheral stock markets soared across the board, and today (March 10) A shares also ushered in a major counterattack. The Shanghai and Shenzhen stock markets opened high across the board. The Shanghai index opened back above 3300 points. The Shenzhen Composite Index and the gem index also showed strong performance, and then maintained a high level, with a panoramic view of the rebound pattern.
From the disk point of view, the general rising market has finally arrived, and the “rising voice” and “drinking and taking medicine” market in the industry and concept sector have made a comeback. As for the assisted reproduction sector, as of press time, Tianjin Tianyao Pharmaceutical Co.Ltd(600488) , Changjiangrunfa Health Industry Co.Ltd(002435) and hot biology, saituo biology, Suzhou Medicalsystem Technology Co.Ltd(603990) , Huapont Life Sciences Co.Ltd(002004) , etc. had increased by the limit. It is worth noting that Changjiangrunfa Health Industry Co.Ltd(002435) has been trading for five consecutive trading days. In addition, in the lithium battery sector, Sundy Land Investment Co.Ltd(600077) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Do-Fluoride New Materials Co.Ltd(002407) , Zhejiang Yongtai Technology Co .Ltd(002326) , etc. staged a rising tide.
At present, under the background of scattered A-share hotspots and intensified sector rotation, possible investment opportunities are hidden. Select some institutional research reports. Let’s see what themes are available for reference.
[Topic 1] lithium battery
Everbright Securities Company Limited(601788) said that in the current environment, battery enterprises are making positive progress towards downstream favorable prices. However, the price of raw materials rises rapidly and is mostly adjusted monthly. The pricing mode and voice of battery enterprises towards downstream will directly affect the timeliness of price transmission. We believe that leading companies can better absorb the pressure of upstream price rise in combination with low-cost long order inventory, technological progress and scale effect. At the same time, the advantageous bargaining power to the downstream will timely transmit the pressure of raw material price rise. Leading enterprises also smoothed price fluctuations through industrial chain layout and inventory, and further highlighted supply chain control and cost advantages. Recommended: Contemporary Amperex Technology Co.Limited(300750) , Eve Energy Co.Ltd(300014) .
From the perspective of supply and demand of the industrial chain, the supply of negative pole graphitization, diaphragm, copper foil and iron phosphate in the middle reaches of lithium battery in 2022 is relatively tight, and the lithium battery industry chain maintains a high momentum. Attention: beiteri, Shanghai Putailai New Energy Technology Co.Ltd(603659) , Ningbo Shanshan Co.Ltd(600884) , Guangdong Jiayuan Technology Co.Ltd(688388) , Yunnan Energy New Material Co.Ltd(002812) , Shenzhen Senior Technology Material Co.Ltd(300568) .
The agency further analyzed that under the background of the continuous high price of lithium ore, the economy of lithium battery recovery is prominent. Lithium battery recycling helps to make up for the supply gap of upstream resources, especially lithium resources. Lithium battery recycling has broad market space and development prospects. Attention: Bangpu cycle ( Contemporary Amperex Technology Co.Limited(300750) ), Miracle Automation Engineering Co.Ltd(002009) , Guangdong Fangyuan Environment Co.Ltd(688148) , Guangdong Guanghua Sci-Tech Co.Ltd(002741) , Cngr Advanced Material Co.Ltd(300919) , Gem Co.Ltd(002340) , Wangneng Environment Co.Ltd(002034) , Zhefu Holding Group Co.Ltd(002266) , etc.
As for the lithium battery industry, Huaan Securities Co.Ltd(600909) pointed out three main lines: first, release of production capacity, relief of cost pressure and recovery of gross profit. Battery plants: Contemporary Amperex Technology Co.Limited(300750) , Eve Energy Co.Ltd(300014) , Gotion High-Tech Co.Ltd(002074) , Farasis Energy (Gan Zhou) Co.Ltd(688567) etc; 2. Lithium resource companies with high lithium price supported by supply and demand and expected to realize excess profits: Keda Industrial Group Co.Ltd(600499) , Youngy Co.Ltd(002192) , Chengxin Lithium Group Co.Ltd(002240) , Tianqi Lithium Corporation(002466) , etc; Three mid stream material link companies that have clear patterns, clear advantages, and a clear, dominant, and still tight supply and demand: the mid stream material link companies that have a clear pattern, clear advantage, and obvious middle stream material link companies that have a clear pattern, clear advantage, and clear middle stream material link companies: the ‘ Hongda Xingye Co.Ltd(002002) Yunnan Energy New Material Co.Ltd(002812) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Zhejiang Huayou Cobalt Co.Ltd(603799) , etc.
[Topic 2] assisted reproduction
China Galaxy Securities Co.Ltd(601881) Securities pointed out that in 2018, about 568000 patients in China received assisted reproductive services, accounting for only 1.2% of 47.8 million infertile couples in the same year. At present, China has the same infertility rate as developed countries, but there is still a big gap in the proportion of people receiving assisted reproductive services. Statistics show that the penetration rate of assisted reproduction in China in 2018 was only 7.0%, much lower than 30.2% in the United States in the same period. In the future, with the deepening of people’s understanding of assisted reproductive technology, the increase of per capita disposable income and the liberalization of policies to encourage fertility, the penetration rate of assisted reproductive technology in China is expected to continue to increase.
The agency further believes that the penetration rate of assisted reproduction in China is expected to increase in the future with the introduction of the three child policy and other fertility related policies, the rise of infertility rate and the increase of China’s per capita disposable income. It is suggested to pay attention to Jinxin reproductive, a high-quality private assisted reproductive institution with technical barriers and license barriers, its acquisition progress and the performance flexibility of the gradual recovery of American business. In addition, we can pay attention to Beikang medical, a leading PGT clinical solution provider in China.
Ping An Securities said that the entry of assisted reproductive projects into medical insurance will accelerate the development of the industry, and the downstream medical service enterprises will take the lead in benefiting. China’s assisted reproductive drug market is still dominated by imports. If the drug market is intensively purchased in the future, it is expected to promote the reconstruction of the market competition pattern and bring opportunities to domestic pharmaceutical enterprises. It is suggested to pay attention to: Jinxin reproduction, Beikang medical treatment, Changchun High And New Technology Industries (Group) Inc(000661) , Livzon Pharmaceutical Group Inc(000513) .
Kaiyuan securities mentioned that assisted reproduction is included in medical insurance. Firstly, it is conducive to the improvement of IVF service penetration rate, and the fertility policy will be more active under the national policy environment of encouraging three births. However, considering the high proportion of first-line and non local patients and the pilot promotion of direct settlement of outpatient expenses in different places in China, it is expected that the IVF service penetration rate will not increase rapidly in a short time, but will gradually rise; Secondly, in terms of supply, the industry threshold is still very high, high-quality IVF licenses are scarce, medical insurance qualification puts forward higher requirements for IVF institutions, and the competitive advantage of leading institutions will be more prominent; Finally, in terms of profitability, the overall difference between this pricing and the previous pricing is small, and has little impact on VIP and other high-end special needs services. Therefore, the profitability of IVF institutions is expected to be maintained.
[Theme 3] wine making
China Galaxy Securities Co.Ltd(601881) Securities pointed out that for Baijiu industry, short-term efforts should be made in the long term, and the trend of structural upgrading will not be changed. Around the Spring Festival, the epidemic control and control were relatively relaxed compared with 2021, and the terminal consumption scenarios were restored. The liquor industry’s overall sales performance was stable and the channel refunds were good, but the regional differentiation characteristics (mainly caused by the epidemic in some areas) were repeated, and the performance of the Baijiu liquor was relatively better. From 2 to March, the Baijiu industry will enter the “shrinkage stage”. But the good performance of the Spring Festival has laid a good foundation for the first quarter. We think that Baijiu 22Q1 can start a good start.
For the beer industry, high-end + price increase effect is realized, and attention is paid to systematic opportunities in peak seasons. On the whole, the logic of high-end industry continues to be deduced. It is expected that with the recovery of catering demand and the decline of raw material prices (the high glass price fell in January), the price increase effect of the industry is expected to be realized in the peak season of 21q2, and the report performance will release high elasticity.
Financial letter Securities said that the current position of the Baijiu sector can be more positive. At present, the biggest difficulty faced by the industry is that the macroeconomic downturn affects the consumption capacity, while at the industry level, the price and inventory of famous wines are healthy, and the industry order is improving. Looking forward to the future, (1) the impact of the epidemic is gradually passivated, epidemic prevention policies are more flexible, and the scope of limited consumption scenarios will be further reduced; (2) With the steady growth policy, macroeconomic stabilization and recovery is a relatively certain trend. At present, the fundamentals of the industry are mainly stable, and it is expected to strengthen again with the recovery of macro viewing attitude in the future. However, due to the uncertainty of the recovery speed of consumption capacity, the weak demand period may continue for some time. This stage especially tests the channel price and inventory control ability of wine enterprises, and the winery needs to balance the volume and price.
[Topic 4] electric power
Yingda Securities said that the implementation plan for the development of new energy storage in the 14th five year plan attaches great importance to promoting the technological development and large-scale application of the new energy storage industry, emphasizes clarifying the transmission mechanism of energy storage price, accelerating the large-scale development of energy storage on the power supply side, power grid side and user side, and supporting the construction of a new power system. By 2025, new energy storage will enter the stage of large-scale development from the initial stage of commercialization and have the conditions for large-scale commercial application. By 2030, new energy storage will be fully market-oriented, basically meeting the needs of building a new power system, and comprehensively supporting the realization of the goal of carbon peak in the energy field as scheduled. With the cost reduction driven by technological progress and the continuous improvement of price mechanism and market mechanism, the types of new energy storage will be enriched, and the industry will usher in a period of rapid development.
Chuancai securities mentioned that with the deepening of the “double carbon” policy, the proportion of photovoltaic wind power and other new energy power generation in the energy structure continues to increase, but the intermittence and instability of new energy power generation pose a challenge to the consumption capacity of the power grid. The development of new energy storage will effectively improve the grid connection and consumption capacity of new energy, promote the construction of new power system, and provide guarantee for the vigorous development of new energy.
Citic Securities Company Limited(600030) pointed out that under the goal of carbon neutrality, the wind and solar installation center is expected to further rise during the 14th Five Year Plan period. In the photovoltaic field, it is suggested to focus on the silicon leaders Tongwei Co.Ltd(600438) , Xinjiang Daqo New Energy Co.Ltd(688303) , new and special energy, Tbea Co.Ltd(600089) , and the integrated leaders Longi Green Energy Technology Co.Ltd(601012) , Ja Solar Technology Co.Ltd(002459) , which benefit from the continuous tight supply and demand pattern, Ginlong Technologies Co.Ltd(300763) , Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) , Ningbo Deye Technology Co.Ltd(605117) etc. of inverter link, faucet of adhesive film link Hangzhou First Applied Material Co.Ltd(603806) , high-quality supplier of carbon / carbon heat field Kbc Corporation Ltd(688598) , faucet of battery laser equipment Wuhan Dr Laser Technology Corp.Ltd(300776) , faucet of component series welding machine Wuxi Autowell Technology Co.Ltd(688516) ; In the field of wind power, it is suggested to focus on Xinjiang Goldwind Science And Technology Co.Ltd(002202) , Ming Yang Smart Energy Group Limited(601615) , Riyue Heavy Industry Co.Ltd(603218) , Ningbo Orient Wires & Cables Co.Ltd(603606) , etc., which benefit from the upgrading of wind power technology; In the field of energy storage, Dongfang Electric Corporation Limited(600875) , Sungrow Power Supply Co.Ltd(300274) , Suwen Electric Energy Technology Co.Ltd(300982) and Xj Electric Co.Ltd(000400) in the field of pumped storage are recommended.
