Last week’s market
Last week, the CSI 300 fell 0.52%, the Shenwan machinery and equipment sector fell 2.76%, outperforming the market by 2.24 percentage points, ranking 27th among all the primary industries of Shenwan. Among the 19 sub industries, the sub industries with the highest decline were refrigeration and air conditioning equipment, laser equipment and other automation equipment, down 6.35%, 5.57% and 4.65% respectively.
In terms of valuation, as of March 30, 2022, the price earnings ratio (TTM, overall method, excluding negative values) of Shenwan machinery and equipment sector was 22.78 times, and the valuation premium rate relative to Shanghai and Shenzhen 300 was 101%.
In terms of individual stocks, the top gainers are Tianjin Jinrong Tianyu Precision Machinery Co.Ltd(300988) (70.25%), Beijing Chieftain Control Engineering Technology Co.Ltd(300430) (18.08%), Zhejiang Tiantai Xianghe Industrial Co.Ltd(603500) (16.86%), and the top gainers are Hangzhou Everfine Photo-E-Info Co.Ltd(300306) (- 20.10%), Changchun Zhiyuan New Energy Equipment Co.Ltd(300985) (- 17.19%), Chengdu Shenleng Liquefaction Plant Co.Ltd(300540) (- 16.27%).
Industry news
1) CME estimates that the sales volume of excavators in March is about 40000, with a year-on-year growth rate of about – 49%.
2) the central bank issued the opinions on doing a good job in the key work of financial support and comprehensively promoting rural revitalization in 2022.
Company news
1) Guangxi Liugong Machinery Co.Ltd(000528) release the announcement on the investment and construction of intelligent International Industrial Park project.
2) the China Cssc Holdings Limited(600150) subsidiary Jiangnan Shipbuilding signed a construction contract for two 175000 m3 LNG carriers.
3) Yijiahe Technology Co.Ltd(603666) issue the 2022 stock option and restricted stock incentive plan (Revised Draft).
4) Ife Elevators Co.Ltd(002774) released the performance express of 2021, and the net profit attributable to the parent company was + 798.78% year-on-year.
Industry strategy and individual stock recommendation this week
In terms of construction machinery, according to the prediction of CME, the sales volume of excavators in March was about 40000, a year-on-year decrease of about 49%. Recently, the epidemic situation in China has been spreading in many places and growing rapidly, which has a certain impact on the sales volume of the industry and downstream construction. We believe that the growth rate of China’s infrastructure investment from January to February is much higher than the market expectation. Under the annual GDP growth target of 5.5%, infrastructure investment will still become the main starting point of economic growth. It is suggested to pay attention to the construction machinery faucet Sany Heavy Industry Co.Ltd(600031) ( Sany Heavy Industry Co.Ltd(600031) ), Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) ( Zoomlion Heavy Industry Science And Technology Co.Ltd(000157) ), and the core parts manufacturer Jiangsu Hengli Hydraulic Co.Ltd(601100) ( Jiangsu Hengli Hydraulic Co.Ltd(601100) ).
The “total energy consumption” will be changed into “renewable energy consumption” by the government, and the “total energy consumption” will be changed into “renewable energy consumption” in 2021, and the “energy consumption intensity” will be put forward in an orderly manner. This will effectively alleviate the constraints of dual control of energy consumption on China’s economic growth and accelerate the transformation of clean energy instead of traditional energy. It is suggested to pay attention to Shenzhen S.C New Energy Technology Corporation(300724) ( Shenzhen S.C New Energy Technology Corporation(300724) ) and Wuhan Dr Laser Technology Corp.Ltd(300776) ( Wuhan Dr Laser Technology Corp.Ltd(300776) ).
Risk warning: the risk of global spread of the epidemic; The macroeconomic growth rate is lower than expected; Price fluctuation risk of raw materials; Global trade friction risk.
