Index
On Tuesday, March 15, 2022, as of the closing, the three major indexes fell across the board. The Shanghai index fell 4.95% to 306397 points, the Shenzhen Component Index fell 4.36%, the gem index fell 2.55%, and the turnover of the two markets reached 1124.3 billion. The industry sector fell across the board, led by coal, real estate and steel, while the decline of power equipment and new energy was relatively small.
Comments
Global risk aversion continued to heat up, and foreign capital continued to flow out of China’s stock market, triggering negative feedback from domestic capital and weakening liquidity, leading to continuous declines in A-Shares and Hong Kong shares. This year, the national GDP growth target is set at 5.5%, which is the upper limit expected by the market. According to the government work report, the clear path to achieve steady growth includes new and old infrastructure, digital economy, double carbon related industries, etc. from the flow direction of local government special bonds, new and old infrastructure accounts for a large proportion, and a large number of projects have been planned and under construction in various places, including key water conservancy projects Comprehensive three-dimensional transportation network, underground comprehensive pipe gallery construction, wind power and photovoltaic new energy infrastructure, etc. these sectors have relatively uncertain performance. The US Federal Reserve is too pessimistic about the long-term interest rate hike and the new interest rate hike in the Ukrainian capital market, but the long-term interest rate hike in the Ukrainian capital market is becoming more and more pessimistic.
Industry dynamics
On March 15, 2022, the national development and Reform Commission issued the implementation plan of the 14th five year plan for the development of urban agglomerations in the middle reaches of the Yangtze River. The plan proposes that by 2025, substantial progress will be made in the coordinated development of urban agglomerations in the middle reaches of the Yangtze River, the proportion of the total economy in the country will be further increased, and the ability to support the development of the Yangtze River economic belt, the rise of the central region and even the country’s high-quality development will be significantly enhanced. The integrated development pattern has basically taken shape, the radiation and driving role of provincial capital cities has been further brought into play, substantial breakthroughs have been made in the co urbanization of Wuhan, Changzhutan and other metropolitan areas, positive progress has been made in the cultivation of Nanchang metropolitan area, the development of large, medium and small cities and small towns has been more coordinated, and the urbanization rate of permanent residents has reached 67%; The level of infrastructure connectivity has been greatly improved, the comprehensive three-dimensional transportation network has been further improved, the total mileage of Railways has reached 14000 kilometers, the two-hour access between major cities in the urban agglomeration has been basically realized, the level of new infrastructure has been significantly improved, and the energy guarantee capacity has been further enhanced; Advanced manufacturing clusters with national competitiveness have been basically formed, the industrial division of labor has been more reasonable, the cooperation efficiency has been greatly improved, the regional collaborative innovation system has been preliminarily completed, and the R & D investment of the whole society has increased by more than 7% annually. (National Development and Reform Commission website)
Company dynamics
Titan Wind Energy (Suzhou) Co.Ltd(002531) ( Titan Wind Energy (Suzhou) Co.Ltd(002531) ): on the evening of March 15, it was announced that the company signed the strategic cooperation agreement with Zhejiang Windey Co.Ltd(300772) and Zhejiang Windey Co.Ltd(300772) became the enterprise entering the park for the phase III wind power host project of Puyang Tianshun wind power equipment manufacturing industrial park Zhejiang Windey Co.Ltd(300772) plans to invest in the construction of a wind turbine host equipment manufacturing production line with an annual capacity of no less than 1 million KW, so as to build a whole industrial chain structure integrating wind turbine R & D, production, sales and operation and maintenance, and radiate the markets of Henan, Shandong and Hebei. （iFinD）
Risk warning: the macro policy is not as expected; Raw material prices rose more than expected.
