Index
On Wednesday, March 23, 2022, as of the closing, the Shanghai Composite Index rose 0.34% to 327103 points, the Shenzhen Component Index rose 0.73%, the gem index rose 1.03%, and the turnover between the two markets reached 942.8 billion. The net capital sold to the North today was 94.4 billion yuan.
Comments
Due to the loosening of real estate regulation policies, the real estate sector strengthened again. In terms of policy, the financial stability and Development Commission of the State Council held a special meeting to discuss the response plans for real estate enterprises to effectively prevent and resolve risks. In addition, many provinces and cities issued industry favorable policies from both supply and demand, such as canceling the sales restriction policy, reducing the down payment ratio, lowering the mortgage interest rate, etc. In terms of industry fundamentals, many industry indicators such as business activity index, new order index and employee index of the construction industry have increased over the previous month, and there are signs of recovery in the industry fundamentals.
The wind power industry rose sharply today and performed strongly. Yesterday, the national development and Reform Commission and the National Energy Administration issued the “14th five year plan” for a modern energy system. In terms of vigorously developing non fossil energy, the plan points out that we should accelerate the development of wind power and Cecep Solar Energy Co.Ltd(000591) power generation. Accelerate the construction of large-scale wind power photovoltaic base projects focusing on deserts, Gobi and desert areas. Encourage the construction of offshore wind power bases and actively develop Cecep Solar Energy Co.Ltd(000591) thermal power generation. The introduction of the plan has further clarified the certainty of the future market space of new energy fields such as wind power, photovoltaic and energy storage. The performance growth and prosperity of these tracks are expected to last for a long time, so as to realize the improvement of valuation and performance.
Industry dynamics
1. Harbin has become the first provincial capital city to cancel the real estate sales restriction policy. On March 23, the official website of Harbin Municipal People’s government announced that, with the consent of the municipal government, the notice on Further Strengthening the regulation of the real estate market has completed its phased regulation mission and is to be abolished. (Harbin People’s Government Network)
2. On March 21, the Guangdong Provincial Development and Reform Commission issued a notice on the plan of key construction projects in Guangdong Province in 2022. In 2022, a total of 1570 provincial key projects were arranged, with a total investment of 7.67 trillion yuan, an annual planned investment of 900 billion yuan, 1152 provincial key pre construction preparatory projects for preliminary work, and an estimated total investment of 5.88 trillion yuan. Including a large number of infrastructure construction projects such as highway engineering, comprehensive transportation hub, data center, 5g base station, wind power project, nuclear power project and industrial park. (website of Guangdong Provincial Development and Reform Commission)
Company dynamics
China Three Gorges Renewables (Group) Co.Ltd(600905) ( China Three Gorges Renewables (Group) Co.Ltd(600905) ): Announcement on resignation of directors and general manager of the company. The board of directors of China Three Gorges new energy (Group) Co., Ltd. received a written resignation report from Mr. Zhao Guoqing, the director and general manager of the company, on March 18, 2022. Due to job changes, Mr. Zhao Guoqing resigned as a director and general manager of the first board of directors and a member of the strategic committee under the board of directors.
Risk warning: the implementation of the policy is less than expected; The price rise of raw materials exceeded expectations; The epidemic situation repeatedly exceeded expectations.
