Expand effective investment and promote stable economic growth. On March 29, the national standing committee meeting was held. The meeting pointed out that under the background of the complex and severe international situation and new challenges to China’s development, the downward pressure on the economy has further increased, and steady growth should be put in a more prominent position. The meeting clearly required to make good use of government bonds, expand effective investment, pay close attention to issuing the amount of remaining special bonds, and give preference to areas with strong solvency, many projects and sufficient reserves. At the same time, it was required to give better play to the efficiency of special bonds, reasonably expand the scope of use of special bonds, focusing on projects in the fields of transportation, energy, ecological environmental protection and affordable housing projects, accelerate the commencement and construction of projects, and form physical workload as soon as possible. A batch of water conservancy projects with a year-on-year investment of about 800 million yuan have been completed, with a year-on-year increase of about 500% compared with that of last year. Under the action goal of steady growth throughout the year, the future implementation of special bonds can be expected, and the construction of a series of major projects is expected to form a good support for the investment side.
The epidemic affects the pace of demand recovery and pays attention to the underestimated value and high-quality leaders. Since the first quarter, the market’s concern about the future economic downturn has spread. The repeated epidemic in many places in China and the outbreak of the conflict between Russia and Ukraine have brought more uncertain factors to the market. The central bank and the national development and Reform Commission have continuously issued relevant measures to accelerate the “steady growth”. At present, the downstream demand of the industry is still in the stage of gradual recovery, but the latest data show that the overall recovery rhythm is slow, which will strengthen the market’s game expectation that “the worse the demand is, the more the policy needs to be further overweight”. Therefore, the subject matter of the relevant industrial chain of “stable growth” is still the focus of recent investment. It is suggested to focus on the relevant varieties with capital construction and real estate demand and high safety margin of valuation, and grasp the cement Window opportunities for glass. The tracking and investment suggestions of each sub industry at the current time point are as follows:
Cement: affected by the epidemic prevention and control and rainy weather, the market demand performance this week is still relatively poor, the sales pressure of enterprises increases, and the prices in some areas show a downward trend, mainly including Hubei, Chongqing and some parts of Guizhou. The price rising areas mainly include Beijing, Gansu, Shaanxi and so on. As of April 1, the national p.o42 5. The average price of high-standard cement was 509.83 yuan / ton, up 0.66% month on month, and the storage capacity ratio was 65.13%, up 3.63 percentage points month on month. Given that the impact of short-term epidemic prevention and control is hard to end, and that the impact of short-term epidemic prevention and control is hard to end, and some regional enterprises are trying to ease supply pressure by opening or extending peak shifting production, which is expected to boost the operational landscape. It is expected to play a certain role in boosting the operational landscape. It is recommended to keep a short-term focus on epidemic prevention and control and the release of downstream demand. It is recommended to keep an eye on short-term focus on the epidemic prevention and control and the release of downstream demand for the release of downstream demand, and to recommend the recommendations for ‘60058 Anhui Conch Cement Company Limited(600585) 8585 , Gansu Qilianshan Cement Group Co.Ltd(600720) , Ningxia Building Materials Group Co.Ltd(600449) ;
Glass: the North-South operation of the market is slightly divided this week. There is a certain replenishment behavior in the downstream processing plants in the southern region. The production and sales in some regions of central China, East China and southwest have improved, some manufacturers have increased slightly, and the replenishment power in the downstream of the northern region is relatively weak. According to Zhuo Chuang information, the average price of float glass in China’s mainstream market this week was 2059 yuan / ton, down 2.58% month on month. The inventory of production enterprises in key provinces was 44.45 million heavy containers, an increase of 70000 heavy containers month on month. In the short term, it is suggested to pay attention to the downstream construction and new orders; The medium and long-term technological upgrading of the glass industry is still the focus. It is recommended that Zhuzhou Kibing Group Co.Ltd(601636) , Csg Holding Co.Ltd(000012) .
Other building materials: ① glass fiber industry: the roving market price is basically stable this week, and it is expected to maintain a stable trend in the short term. The electronic yarn market quotation is temporarily stable, and there is a certain flexible space for transaction; In the medium and long term, the glass fiber industry is expected to enter a new stage of high-quality and orderly expansion of production capacity, driven by the demand side, the supply and demand pattern is expected to continue to be optimized, the competitive advantage of leading enterprises is expected to be further consolidated in the future, and the current price can continue to be long. It is recommended that China Jushi Co.Ltd(600176) , Sinoma Science & Technology Co.Ltd(002080) ; ② Other building materials: the resilience of real estate investment remains, and the market share of leading enterprises in various sub industries has increased steadily. It is suggested to hold the bargain hunting layout for a long time. It is recommended to Ocean’S King Lighting Science & Technology Co.Ltd(002724) , Guangdong Kinlong Hardware Products Co.Ltd(002791) , Keshun Waterproof Technologies Co.Ltd(300737) , Dehua Tb New Decoration Material Co.Ltd(002043) .
Risk warning: the landing of the project is lower than expected; Supply increased more than expected; Higher than expected cost increase
