I. interpretation of the meeting: the policy has bottomed out
Today’s special meeting of the financial committee of the State Council means that the end of the policy is gradually becoming clearer. Looking forward to the follow-up, we can further actively track the signal of economic stabilization.
Around the “three low” and “double long”. We propose to shift from the “three high” allocation idea from 2019 to 2020 to the “three low” allocation idea in 2022. For the “three lows”, there are two clues: steady growth and new growth, of which steady growth is the main and new growth is the supplement. First, large market value leaders are preferred in the steady growth chain, covering real estate chain, travel chain and state-owned enterprise reform; Second, explore small and beautiful in the new growth chain, covering domestic alternatives, new energy +, national defense, etc.
II. Stock selection strategy: three low swings and two long swings
1. Stable growth chain
Bank: Industrial Bank Co.Ltd(601166) , Ping An Bank Co.Ltd(000001) , Bank Of Nanjing Co.Ltd(601009)
Chemical Engineering: Zhejiang Nhu Company Ltd(002001) , Tangshan Sanyou Chemical Industries Co.Ltd(600409) , Sichuan Em Technology Co.Ltd(601208)
New materials: Xinxing Ductile Iron Pipes Co.Ltd(000778) , Tianjin You Fa Steel Pipe Group Stock Co.Ltd(601686) , Zhengyuan Geomatics Group Co.Ltd(688509)
Transportation service: Guangzhou Baiyun International Airport Company Limited(600004) , Shanghai International Airport Co.Ltd(600009) , Air China Limited(601111)
Delivery buildings: China Energy Engineering Corporation Limited(601868) , Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) , Yunda Holding Co.Ltd(002120) , Yto Express Group Co.Ltd(600233)
Real estate: Poly Developments And Holdings Group Co.Ltd(600048) , China Resources Land, poly property
Medicine: Nanjing King-Friend Biochemical Pharmaceutical Co.Ltd(603707) , Apeloa Pharmaceutical Co.Ltd(000739) , Tofflon Science And Technology Group Co.Ltd(300171)
Large consumption: Jason Furniture (Hangzhou) Co.Ltd(603816) , Beijing Oriental Yuhong Waterproof Technology Co.Ltd(002271) , Haier Smart Home Co.Ltd(600690)
Light industry: Jason Furniture (Hangzhou) Co.Ltd(603816) , Oppein Home Group Inc(603833) , Shanghai M&G Stationery Inc(603899)
Agriculture: Hunan New Wellful Co.Ltd(600975) , Pulike Biological Engineering Inc(603566) , China Animal Husbandry Industry Co.Ltd(600195)
2. New growth chain
Big technology: Tencent, USA corps, Kwai Fu, Naura Technology Group Co.Ltd(002371) , Shenzhen H&T Intelligent Control Co.Ltd(002402)
Electronic: Konfoong Materials International Co.Ltd(300666) , Thinkon Semiconductor Jinzhou Corp(688233) , 3Peak Incorporated(688536)
Internet: Tencent, US corps, Kwai Fu
Media: Focus Media Information Technology Co.Ltd(002027) , Wanda Film Holding Co.Ltd(002739) , Guangzhou Wahlap Technology Corporation Limited(301011)
Communication: China Mobile, Wenzhou Yihua Connector Co.Ltd(002897) , Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499)
Computer: Yonyou Network Technology Co.Ltd(600588) , Sangfor Technologies Inc(300454) , Iflytek Co.Ltd(002230)
Automobile: Ningbo Tuopu Group Co.Ltd(601689) , Jiangsu Xinquan Automotive Trim Co.Ltd(603179) , Bethel Automotive Safety Systems Co.Ltd(603596)
New retail: Beijing United Information Technology Co.Ltd(603613) , Fubo group, Weimeng group
Yimei: Imeik Technology Development Co.Ltd(300896) , Bloomage Biotechnology Corporation Limited(688363) , Yonghe medical
Risk tip: global inflation continues to exceed expectations; The Fed raised interest rates more than expected; Corporate profits were lower than expected.
