Today (March 22), after the low opening of A-Shares in the morning, the shock consolidation showed a pattern of strong Shanghai and deep weakness. In the afternoon, the three major stock indexes once soared and turned red, and then fell rapidly. On the disk, in terms of industry, real estate, mining, precious metals, automotive services, oil, decoration and building materials, banking and other sectors led the increase; Chemical pharmaceuticals, medical devices, motors, wine making, semiconductors and other sectors led the decline. In terms of theme stocks, the cultivation of diamonds, lease and sale rights, digital currency, cross-border payment and gold concept led the rise; Covid-19 drugs, covid-19 detection, precision medicine, online tourism and other decline.
real estate stocks lifted the limit tide institutions: “steady growth” will run through the whole year
On the morning of March 22, real estate stocks rose again, and 15 stocks including Shenzhen Sdg Service Co.Ltd(300917) , Yango Group Co.Ltd(000671) , China Fortune Land Development Co.Ltd(600340) and so on rose. The whole sector index ranks first in the industry. In terms of news, recently, Country Garden real estate group, Seazen Holdings Co.Ltd(601155) , Xuhui group and other real estate companies successively issued announcements on directors, supervisors and senior managers purchasing the company’s bonds in the secondary market.
Central China Securities Co.Ltd(601375) Research Report Analysis said that the epidemic in March may lead to weak consumption, more need to increase investment to stabilize the economy, and the purchase restriction policy in some cities will be relaxed, which is conducive to infrastructure and real estate.
Huachuang Securities said that the six ministries and commissions jointly expressed their determination to maintain stability and steady growth. Based on the positive expectations of policies and the improvement of forward-looking data at the micro level, they continued to give priority to recommending the infrastructure chain and pay attention to the expectation of the improvement of the fundamentals of the real estate chain.
China Galaxy Securities Co.Ltd(601881) Securities believes that at the current time point, the main line of “steady growth” will run through the whole year. At present, the meaning of supporting the market is obvious from both the central and local levels. Under the background of increasing downward pressure on fundamentals, March may enters the period of intensive adjustment of local policies, and the policy strength and space of “steady growth” are worth looking forward to. Under the main line of “stable growth”, the market interpretation path is gradually clear, and there is still room for central state-owned enterprises to rise. At the same time, the market is gradually transitioning from central state-owned enterprise housing to private enterprise housing and property management companies. From the medium-term perspective, pay attention to the verification results of two supply side reforms: 1. The market situation of the second round of local auction; 2. The above two points are directly related to the medium and long-term profit restoration logic of high-quality real estate enterprises and the change of industry pattern.
home furnishing sector is active Guangdong Piano Customized Furniture Co.Ltd(002853) , Guangzhou Seagull Kitchen And Bath Products Co.Ltd(002084) and other daily limits Hhc Changzhou Corp(301061) and other higher
The home furnishing sector had an active intraday trend on the 22nd. As of press time, Guangdong Topstrong Living Innovation And Integration Co.Ltd(300749) , Zhejiang Youpon Integrated Ceiling Co.Ltd(002718) , Guangdong Piano Customized Furniture Co.Ltd(002853) , Guangzhou Seagull Kitchen And Bath Products Co.Ltd(002084) and other trading limits, Hhc Changzhou Corp(301061) , Guangzhou Shangpin Home Collection Co.Ltd(300616) , Jiangshan Oupai Door Industry Co.Ltd(603208) , Xlinmen Furniture Co.Ltd(603008) and other gains were ahead.
Some analysts pointed out that recently, the financial commission of the State Council and relevant departments have successively released positive signals, which will play an important supporting role in stabilizing the expectations of the real estate market and promoting the steady and healthy development of the market. In the context of steady growth, the prosperity of the real estate industry is expected to pick up. At the same time, China’s smart home industry is booming. Recently, a number of home enterprises have successively released the “whole home customization” strategy and landing policies, which is expected to boost market confidence and drive the valuation repair of the home industry.
China Galaxy Securities Co.Ltd(601881) Securities said that under the background of steady growth, real estate Support Policies occur frequently, reasonable housing demand will be guaranteed, and the prosperity of the real estate industry is expected to pick up. At the same time, in 2022, 315 activities, household enterprises enter the whole era and release heavy packages, which is expected to achieve brilliant achievements, boost market confidence and drive the repair of industry valuation. It is suggested to pay attention to Oppein Home Group Inc(603833) , Suofeiya Home Collection Co.Ltd(002572) , Zbom Home Collection Co.Ltd(603801) , Jason Furniture (Hangzhou) Co.Ltd(603816) and Minhua holdings, which have core competitiveness, continuous development of channels and categories, rapid growth of performance and increasing market share.
coal sector fluctuated higher Beijing Haohua Energy Resource Co.Ltd(601101) limit Shanxi Coking Coal Energy Group Co.Ltd(000983) limit and so on
The coal sector fluctuated higher on the 22nd. As of press time, Beijing Haohua Energy Resource Co.Ltd(601101) limit Shanxi Coking Coal Energy Group Co.Ltd(000983) , Jinneng Holding Shanxi Coal Industry Co.Ltd(601001) , China Coal Energy Company Limited(601898) , Yankuang energy, Shanxi Lanhua Sci-Tech Venture Co.Ltd(600123) , etc. Basically, there were many constraints on China’s coal supply side in the first quarter. At the same time, due to the impact of overseas coal prices, the number of imported coal fell significantly, which promoted the tension between China’s coal supply and demand. According to the data of the national development and Reform Commission, the daily coal production in March gradually returned to more than 12 million tons, close to the highest level of last year. On March 14, the national development and Reform Commission held a meeting to promote the “four increases and one control” to ensure coal supply. Comprehensive measures will be taken to release 300 million tons of coal production capacity. It is expected that the supply will increase steadily in the short term. Recently, the national development and Reform Commission held a meeting to strengthen the management of the price and quantity of the coal long-term association, and take multiple measures to stabilize the coal and power market and ensure the safety of energy supply. Under the overall tight supply and demand situation of the power coal market, the coal prices in the market outside the medium long-term association are rising, and the willingness of the coal enterprises to sign the long-term association is insufficient. Under the condition that China’s coal gives priority to the supply of coal for power plants, the coal in the market is relatively tight, pushing up the price of power coal.
Huajin Securities said that the release rate of thermal coal supply in recent months was slow, and the price continued to rise. Under the background of steady growth, the demand side drives the coking coal price to rebound continuously. Supply and demand continue to mismatch and inventory continues to go. Affected by the high overseas coal prices, there was a certain contraction in imports from January to February. Considering the factors such as high overseas coal price and low inventory, thermal coal may be supported in the off-season. Coking coal pays attention to marginal changes at the demand side. The price rise is higher than expected. Pay attention to the market of the first quarter report. Coal prices have risen more than expected recently, with strong industry certainty. With the release of performance in 2021, the dynamic valuation level is still low. In the future, we will focus on the target that the first quarterly report exceeds the expectation.
Open source Securities believes that the current coal sector has high allocation value and is optimistic about the market of the sector.
Objects benefiting from steady performance and high dividend: Yankuang energy, China Shenhua Energy Company Limited(601088) , Shaanxi Coal Industry Company Limited(601225) , Pingdingshan Tianan Coal Mining Co.Ltd(601666) ; Objects expected to benefit from growth: Shanxi Coking Coal Energy Group Co.Ltd(000983) , Jinneng Holding Shanxi Coal Industry Co.Ltd(601001) , Guizhou Panjiang Refined Coal Co.Ltd(600395) , Huaibei Mining Holdings Co.Ltd(600985) Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) transformation beneficiaries: Power Investment energy, Gansu Jingyuan Coal Industry And Electricity Power Co.Ltd(000552) , Shan Xi Hua Yang Group New Energy Co.Ltd(600348) , Shanxi Coal International Energy Group Co.Ltd(600546) , Jinneng Science&Technology Co.Ltd(603113) , China Xuyang group (H shares); Object of benefit from debt restructuring: Wintime Energy Co.Ltd(600157) .
release of the implementation plan for the development of new energy storage in the 14th five year plan trillion market investment opportunities opened
On March 21, the national development and Reform Commission and the National Energy Administration jointly issued the implementation plan for the development of new energy storage in the 14th five year plan. The implementation plan pointed out the development goal of new energy storage. By 2025, the 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. The performance of electrochemical energy storage technology was further improved and the system cost was reduced by more than 30%. By 2030, new energy storage will be fully market-oriented. The implementation plan is the overall plan to promote the large-scale, industrialized and market-oriented development of new energy storage in the 14th five year plan, further clarify the development objectives and refine the key tasks, improve the operability of the implementation of the plan, and clarify the six key tasks during the 14th five year plan.
China International Capital Corporation Limited(601995) believes that the goal of carbon neutralization drives far-reaching changes in the energy market, and the wind power market ushers in a growth stage driven by both policy and economy. With the direct application of renewable energy and the deepening of terminal electrification, the volatility and intermittency of renewable energy require more energy storage to stabilize the power system; With the gradual marketization of power trading, the user side load and distributed generation equipment highlight the economy of user side energy storage; The power system will need more energy storage and other flexible resources to meet the needs of low-carbon, reliable, efficient and economic development of energy. The rapid growth of energy storage market may bring a new trillion market investment opportunity.
Kaiyuan Securities pointed out that new energy storage is clean energy and the pillar of social progress. Policies drive the rapid development of energy storage industry outside China. From the perspective of development stage: China’s energy storage is a development stage from 0-1, and the power grid / generation side has a certain room for improvement at the level of business model. The energy storage industry chain is becoming more and more mature. It is suggested to consider from the perspectives of value, performance growth, proportion of energy storage revenue, industry barriers and concentration: (1) from the perspective of value, the cost of batteries and energy storage converters accounts for a relatively high proportion, and Sungrow Power Supply Co.Ltd(300274) and other companies benefit; (2) From the perspective of performance growth, pay attention to overseas home storage in the short term, pay attention to electric energy storage in the medium and long term, and open the quadratic curve of energy storage growth;
(3) in terms of the proportion of energy storage revenue, companies with high proportion of energy storage revenue and good flexibility include Guangzhou Great Power Energy&Technology Co.Ltd(300438) , Pylon Technologies Co.Ltd(688063) , Ningbo Deye Technology Co.Ltd(605117) , and histron in the field of system integration; (4) From the perspective of industry barriers, energy storage batteries have high requirements for cycle life. At present, leading lithium iron phosphate batteries such as Contemporary Amperex Technology Co.Limited(300750) and others have cost-effective advantages; (5) From the perspective of industry concentration, the energy storage battery industry is highly concentrated, and enterprises such as Contemporary Amperex Technology Co.Limited(300750) , Byd Company Limited(002594) , Eve Energy Co.Ltd(300014) , etc. have significant scale advantages.
Shanghai will vigorously develop hydrogen energy industry organization believes that hydrogen production end and hydrogen consumption end are expected to benefit
The Party group meeting and executive meeting of Shanghai municipal government held on March 21 agreed in principle with the medium and long term plan for the development of Shanghai’s hydrogen energy industry (20222035), and pointed out that the development of hydrogen energy industry is not only an important means for Shanghai to accelerate the realization of the “double carbon” goal, but also an important choice to seize a new green and low-carbon track and cultivate and expand new kinetic energy.
Recently, a number of major hydrogen energy projects such as Tianjin, Guangdong and the State Power Investment Corporation have started one after another, and the industrial development has the potential to accelerate. China hydrogen energy alliance predicts that the output value of China’s hydrogen energy industry will reach 1 trillion yuan from 2020 to 2025 and 5 trillion yuan from 2026 to 2035. Since last year, at the national level, policies related to hydrogen energy and fuel cells have been continuously strengthened to promote the promotion and application of hydrogen energy and fuel cells.
Founder Securities Co.Ltd(601901) pointed out that hydrogen energy is a kind of secondary energy with wide sources, clean and carbon free, flexible and efficient, and rich application scenarios. It is an ideal interconnection medium to promote the clean and efficient utilization of traditional fossil energy and support the large-scale development of renewable energy. It is the best choice to realize large-scale and deep decarbonization in transportation, industry, construction and other fields. The hydrogen energy industry chain is long, and the rapid development of hydrogen energy industry is expected to drive the local economic development. National policies mainly provide policy support from the aspects of strategic planning, scientific and technological research and development, industry management and fiscal and tax incentives. The key support directions are renewable energy non hydrogen energy technology, industrialization of key parts of fuel cell and vehicle demonstration application. In terms of technical feasibility, hydrogen energy has made a breakthrough in the feasibility study no matter at the production end, storage, non transportation end or application end. In terms of economic feasibility, hydrogen energy is expected to significantly reduce its cost in the future with the development of technology and market scale. In the long run, it is expected to become an important part of the fuel cell market with the advantages of low fuel speed and environmental protection.
Citic Securities Company Limited(600030) suggests that at the hydrogen production end, the technical route of hydrogen production from renewable energy is highly deterministic and the outbreak is approaching. It is suggested to pay attention to the investment opportunities brought by: Sungrow Power Supply Co.Ltd(300274) , Ningxia Baofeng Energy Group Co.Ltd(600989) , Shanxi Meijin Energy Co.Ltd(000723) , Longi Green Energy Technology Co.Ltd(601012) and other companies and electrolytic cells; In the hydrogen end low-carbon metallurgy scenario, in the long run, it is recommended to focus on Baoshan Iron & Steel Co.Ltd(600019) , which has a relatively high market share and is distributed with green steel; It is suggested to focus on Beijing Sinohytec Co.Ltd(688339) , Shanxi Meijin Energy Co.Ltd(000723) , Shenzhen Center Power Tech.Co.Ltd(002733) , Dongyue Group; The large amount of hydrogen fuel cell will lead to the change of upstream metal platinum demand, which will bring investment opportunities.
wind power photovoltaic grid connected data increased more than expected during the 14th Five Year Plan period, the wind and solar installation center is expected to rise further (with shares)
The National Energy Administration recently released the statistical data of the national power industry from January to February, and the installed capacity of Fengguang was much higher than expected. Among them, the wind power industry added 5.73gw of grid connection in the first two months, an increase of 60%; The photovoltaic industry was connected to the grid for 10.86gw in the first two months, with an increase of 234%.
Citic Securities Company Limited(600030) believes that the 2022 government work report points out that it is necessary to orderly promote the work of carbon peak and carbon neutralization, promote the transformation of low-carbon energy, and promote the planning and construction of large-scale wind power bases and their supporting regulatory power sources. Under the tone of steady growth, the “double carbon” goal not only defines the stable infrastructure investment, but also lays a foundation for the energy revolution and energy transformation.
In terms of photovoltaic, overseas rush to install drives demand, and the operating rate of the industrial chain continues to rise. With the launch of the Fengguang base project, the global installed capacity is expected to exceed expectations in 2022. High quality companies in photovoltaic silicon materials, adhesive films, modules, inverters and equipment are mainly recommended; In terms of wind power, the bidding of wind power continues to exceed expectations, reflecting the continuous improvement of the industry prosperity. Land wind is expected to rebound significantly in 2022. We are optimistic about the restoration of wind power landscape and the export opportunities of wind turbines in overseas markets.
During the “14th five year” period during the “14th five year” period, the central hub for scenery and scenery is expected to go up further. Proposals in the field of photovoltaic are expected to focus on the silicon that benefits from the ever tight supply and demand landscape. During the “14th five year” period during the “14th five five” period. During the “14th five year” period, the central hub for the scenery and scenery during the “14th five five year” period, the central hub for the scenery and scenery is expected to be expected to go up further. Proposals in the photovoltaic field are expected to focus on the silicon’s leading 60043438. 60043434343438 \ \, Ningbo Deye Technology Co.Ltd(605117) etc., rubber film link faucet Hangzhou First Applied Material Co.Ltd(603806) , High quality supplier of carbon / carbon heat field Kbc Corporation Ltd(688598) , battery laser equipment faucet Wuhan Dr Laser Technology Corp.Ltd(300776) , component series welding machine faucet 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) and others that benefit from the upgrading of wind power technology.
