Sichuan composite index fell 2.68% and Chongqing composite index fell 3.78% this week.
As of February 25, 2022, the PE of Sichuan sector is 36.73 times, and the overall valuation level has decreased; The PE of Chongqing sector is 17.50 times, and the overall valuation level has decreased. By industry, the top three sectors in Sichuan and Chongqing this week were light manufacturing (+ 1.15%), medicine and Biology (- 0.58%) and communication (- 1.31%). From the perspective of listed companies, the top three gainers are Pku Healthcare Corp.Ltd(000788) (+ 34.78%), Dr.Peng Telecom&Media Group Co.Ltd(600804) (+ 14.33%), North Chemical Industries Co.Ltd(002246) (+ 13.11%); The top three declines were Tianyu Eco-Environment Co.Ltd(603717) (- 24.26%), Chengdu B-Ray Media Co.Ltd(600880) (- 16.32%) and Changhong energy (- 15.12%). The 42 listed companies we focus on in Sichuan and Chongqing fell by an average of 4.68%, and the top three were: Chengdu Jafaantai Education Technology Co.Ltd(300559) (+ 7.88%), Tongwei Co.Ltd(600438) (+ 6.62%), Maccura Biotechnology Co.Ltd(300463) (+ 1.65%); The top three declines were: Sichuan Guoguang Agrochemical Co.Ltd(002749) (- 13.72%), Shenghe Resources Holding Co.Ltd(600392) (- 10.75%), Sichuan Teway Food Group Co.Ltd(603317) (- 10.73%).
Sichuan Province officially issued the energy development plan of the 14th five year plan, and the water, wind, photovoltaic and energy storage industries ushered in a new era of development.
The Sichuan provincial government has officially issued the “14th five year plan” for energy development in Sichuan Province, proposing that by 2025, the comprehensive energy production capacity will be about 2.5% 5.7 billion tons of standard coal, and the total installed capacity of power in the province is 1.5 billion tons About 500 million kilowatts. Among them, the installed capacity of hydropower is 1.5% The installed capacity of thermal power is about 23 million kW (including coal power, gas power and biomass power generation), and the installed capacity of wind power and photovoltaic power generation reaches 10 million KW and 12 million KW respectively. Sichuan is rich in clean energy resources. With the continuous promotion of low-carbon transformation of Chengdu Chongqing dual city economic circle, it will drive the continuous implementation of water, wind, photovoltaic and energy storage related infrastructure projects in Sichuan, and benefit the further development of related industries in Sichuan and Chongqing.
Wuliangye Yibin Co.Ltd(000858) performance grew steadily, and the annual performance of high-end Sichuan liquor brands was highly deterministic.
Wuliangye Yibin Co.Ltd(000858) released the performance forecast for 2021. It is estimated that the company will achieve an operating revenue of about 66.2 billion yuan, an increase of about 15% year-on-year, and a net profit attributable to shareholders of listed companies of about 23.35 billion yuan, an increase of about 17% year-on-year. The performance of the company maintained steady growth throughout the year, the wholesale price of core products was stable, and the market position of 1000 yuan high-end price band was further consolidated. Looking forward to 2022, from the channel feedback, the sales of puwu in the peak season of the Spring Festival are good, the price remains high, and the performance of the company in the first quarter is highly deterministic. At the same time, the company continued to consolidate its distribution channels, made greater efforts to expand group purchase channels and online sales, and continuously optimized its marketing structure. With the gradual release of subsequent high-end production capacity, the company’s performance growth has strong certainty. The consumption of Sichuan and Chongqing is stable and good. With the gradual development of Shuangcheng economic circle, a large number of major projects will continue to fall. This will help to keep the economic activities in Sichuan and Chongqing areas active and promote Baijiu consumption. It is estimated that the annual performance of Sichuan liquor is strong and it is suggested that Wuliangye Yibin Co.Ltd(000858) , Luzhou Laojiao Co.Ltd(000568) and so on.
Risk tip: macroeconomic growth is lower than expected, covid-19 epidemic continues to be at risk, and consumption recovery is lower than expected.
