Follow up comments
On March 28, 2022, the Shanghai Composite Index closed at 321450 points, up 0.07%; The Shenzhen Component Index closed at 1194994 points, down 1.02%. The Chongqing composite index, which we focus on, closed at 361257 points, up 0.53%; Sichuan composite index closed at 799352 points, down 1.95%. The top three stocks of Listed Companies in Sichuan and Chongqing are: Cccg Real Estate Corporation Limited(000736) ( Cccg Real Estate Corporation Limited(000736) , 10.05%), C.Q.Pharmaceutical Holding Co.Ltd(000950) ( C.Q.Pharmaceutical Holding Co.Ltd(000950) , 10.05%), Chongqingyukaifaco.Ltd(000514) ( Chongqingyukaifaco.Ltd(000514) , 9.98%). The 42 companies we focused on fell by 0.83% on average, among which the top three stocks were: Sichuan Languang Development Co.Ltd(600466) ( Sichuan Languang Development Co.Ltd(600466) , 6.83%), Tongwei Co.Ltd(600438) ( Tongwei Co.Ltd(600438) , 4.63%), Chengdu Guibao Science & Technology Co.Ltd(300019) ( Chengdu Guibao Science & Technology Co.Ltd(300019) , 3.08%). By industry, the top three sectors in Sichuan and Chongqing are: real estate (3.54%), media (3.04%) and architectural decoration (2.26%).
According to the data of Sichuan Provincial Development and Reform Commission, from January to February, 700 provincial key projects in Sichuan Province completed an investment of 110.2 billion yuan, accounting for 17.3% of the annual planned investment, 0.7 percentage points higher than the planned progress. Next, Sichuan will sum up its experience and practice, and on the basis of continuing to strengthen policy support and factor guarantee, let investment bear the heavy responsibility and become a top soldier in the high-quality development of the province, so as to promote the accelerated construction of key projects and the high-quality economic development of the province. With the continuous promotion of the construction of Chengdu Chongqing twin city economic circle, a large number of construction projects will be started this year, continuously releasing a large number of infrastructure needs, which will benefit the infrastructure related industrial chain enterprises in Sichuan and Chongqing. In addition, with the successive construction of several planned industrial parks, it will lay a good foundation for the development of high-tech, new energy and other industries, and promote the rapid growth of related industries in Sichuan and Chongqing.
Industry dynamics
The Chongqing Municipal Bureau of Finance and the Chongqing Municipal Bureau of local financial supervision and Administration issued the measures for the administration of incentive funds for the settlement of financial institutions in Chongqing (Draft for comments), which will give one-time special incentive subsidies to the headquarters of domestic and foreign financial institutions, functional headquarters of financial institutions, regional headquarters of legal person financial institutions, municipal branches of legal person financial institutions and local financial organizations newly established or relocated in Chongqing, The maximum amount of subsidy can be 100 million yuan. (China News Network)
Company dynamics
Sichuan Tianwei Electronic Co.Ltd(688511) ( Sichuan Tianwei Electronic Co.Ltd(688511) ): according to the annual report of 2021, the company achieved an operating revenue of 208 million yuan in 2021, a year-on-year decrease of 11.43%, and a net profit attributable to shareholders of listed companies of 115 million yuan, a year-on-year increase of 1.61%. （wind）
Guoguang Electric Co.Ltd.Chengdu(688776) ( Guoguang Electric Co.Ltd.Chengdu(688776) ): the voluntary disclosure announcement of performance forecast for the first quarter of 2022 was issued. It is estimated that the company will realize a net profit of 41.5-45 million yuan attributable to shareholders of Listed Companies in the first quarter of 2022, with a year-on-year increase of 50.85% – 63.58%, and an operating revenue of 190210 million yuan, with a year-on-year increase of 81.16% – 100.23%. （wind）
Tongwei Co.Ltd(600438) ( Tongwei Co.Ltd(600438) ): the announcement on performance increase in the first quarter of 2022 was issued. It is expected that the company will realize a net profit of RMB 4.9-5.2 billion attributable to shareholders of Listed Companies in the first quarter of 2022, with a year-on-year increase of 478% – 514%. （wind）
Risk warning: the economic recovery is lower than expected and the risk of covid-19 outbreak.
