Infrastructure investment has been significantly accelerated. From January to February, infrastructure investment increased by 8.1% year-on-year, 7.7 percentage points faster than that in 2021. Among them, the investment in water conservancy management industry increased by 22.5%, accelerating by 21.2 percentage points; The investment in information transmission industry increased by 15.2%, accelerating by 4.6 percentage points; The investment in road transportation industry increased by 8.2%, and decreased by 1.2% in 2021. From January to February, the investment in the production and supply of electricity, heat, gas and water increased by 11.7% year-on-year, 10.6 percentage points faster than that in 2021. Among them, the investment in gas production and supply industry increased by 28.7%, and the investment in power and heat production and supply industry increased by 11.7%.
With the improvement of the follow-up epidemic and the resumption of work and recovery, it is expected that China’s role in stabilizing growth and investment will continue to appear. From January to February, the number of new projects invested increased by 1.1 times year-on-year, and the total planned investment of new projects increased by 62.8%; State budget funds increased by 33.9%, and self raised funds increased by 13.2%.
Investment suggestion: in the context of the uncertain global situation, the overall valuation of the upstream and downstream of the infrastructure industry chain is low, with abundant orders, high relative security and strong risk resistance. Therefore, it is recommended to continue to pay attention.
Investment opportunities for earthquake mitigation and isolation under high-quality development: long-term efforts have been made in disaster prevention and mitigation, legislation has been passed, and 20-30 times of space can be expected. Relevant targets such as Quakesafe Technologies Co.Ltd(300767) , Zhejiang Tiantie Industry Co.Ltd(300587) “transportation power” and rail transit sector have long-term benefits: there is a broad demand for the construction of “Urban Agglomeration” on the track, and relevant targets such as Zhejiang Tiantie Industry Co.Ltd(300587) , China Railway Group Limited(601390) , China Railway Construction Corporation Limited(601186) ; Under the expectation of the improvement of China’s infrastructure investment margin in the second half of the year, it is suggested to pay attention to the opportunities related to the industrial chain: pay attention to the undervalued targets China State Construction Engineering Corporation Limited(601668) , China Railway Construction Corporation Limited(601186) , China Railway Group Limited(601390) ; Leading infrastructure enterprises with steady main business and mineral resources: Metallurgical Corporation Of China Ltd(601618) , China Railway Group Limited(601390) ; Under the background of dual control of energy consumption, high-quality targets in green power, BIPV and other related fields: Sinosteel Engineering & Technology Co.Ltd(000928) , Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) , Sinoma International Engineering Co.Ltd(600970) .
