Deliver the A-share market information at the first time, observe the market trend, grasp the rise and fall logic and tap investment opportunities.
real estate sector fell lower Shenzhen property a , Shahe Industrial Co.Ltd(000014) and other stocks fell by the limit
Recently, the real estate sector with strong performance fell sharply on the 7th. As of press time, Guangyu group, Citychamp Dartong Co.Ltd(600067) , Shenzhen Properties & Resources Development (Group) Ltd(000011) , Shahe Industrial Co.Ltd(000014) , Cinda Real Estate Co.Ltd(600657) , Beih-Property Co.Ltd(600791) , Tianjin Hi-Tech Development Co.Ltd(600082) , Beijing Dalong Weiye Real Estate Development Co.Ltd(600159) , etc. fell by the limit.
For the real estate sector, Ping An Securities pointed out that recently, Zhengzhou, Fuzhou, Quzhou,, Qinhuangdao, Lanzhou and other cities have joined the ranks of relaxing purchase, sale and loan restrictions, and the regulation of the real estate market has entered a substantial improvement stage. The first batch of centralized land supply and land auction rules in many cities have “transferred profits”, increased the real estate price difference, stimulated the enthusiasm of real estate enterprises to participate in the auction, and the land auction in some cities has shown signs of warming up. However, the short-term epidemic has repeatedly increased the sales pressure. The monthly sales of the top 100 real estate enterprises fell by more than 50% year-on-year in March. It is expected that the investment attitude of real estate enterprises will remain cautious. At present, the downward pressure on the industry and the capital side risk of real estate enterprises still exist. Under the background of virtuous circle and “three stabilities”, the unstable policies of the real estate market continue, and the valuation repair driven by the policy side is expected to continue.
In the medium and long term, with the withdrawal or contraction of some real estate enterprises in the painful period of this round, the overall pattern of the industry is expected to be optimized, and the market share and profitability of brand real estate enterprises with financing and control advantages are expected to be improved. The development sector is mainly concerned about: one is the strong operating and high credit enterprises with relaxed short-term benefit policies and improved gross profit margin at the land acquisition end, which are expected to seize market share in the medium and long term, such as Poly Developments And Holdings Group Co.Ltd(600048) , China Vanke Co.Ltd(000002) , Gemdale Corporation(600383) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) , Hangzhou Binjiang Real Estate Group Co.Ltd(002244) , etc; One is the subject matter of policy game elasticity with certain support for Fundamentals, such as Seazen Holdings Co.Ltd(601155) , Jiangsu Zhongnan Construction Group Co.Ltd(000961) , Jinke Property Group Co.Ltd(000656) , etc. The valuation of the property management sector has reached an all-time low, and the downward pressure of the quarterly and mid-term guidelines of the annual report has been gradually released. With the continuous deregulation of policies and the improvement of the capital side of development enterprises, it is expected to bring the valuation repair of high-quality property management enterprises.
Northeast Securities Co.Ltd(000686) said that several second and third tier cities have issued policies to cancel purchase restrictions and relax provident fund loans, and the relaxation of the policy has been further strengthened due to the implementation of policies in the city, while the performance of the sales market is still low. The “golden, silver and four” spring has not appeared, and the relaxation of the policy still needs to wait. We believe that the relaxation of policies will increase as scheduled, the upward trend of the industry beta will remain unchanged, the steady concentration of Green Housing enterprises will accelerate, and the advantages of the leading green housing enterprises in investment and financing will appear. At the same time, with the strengthening of sales and purchase restrictions, pre-sale supervision and credit regulation at this stage, the opportunities for improving the liquidity of private housing enterprises will increase, the valuation cost performance is prominent, and the allocation can be moderately lowered to the elastic target of the waist. A shares are recommended China Vanke Co.Ltd(000002) , Poly Developments And Holdings Group Co.Ltd(600048) China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) Gemdale Corporation(600383) Jinke Property Group Co.Ltd(000656) Hangzhou Binjiang Real Estate Group Co.Ltd(002244) 。
real estate chain catalytic overweight building materials sector pulled up strongly Sichuan Shuangma Cement Co.Ltd(000935) and other daily limits
The building materials sector, the building materials sector, and the building materials sector, the seventh day of the seventh day of the seventh day of the seventh day of the seventh day of the seventh day of the seventh day of the seven day day of the sector sector of building materials, the seven day sector of the building materials sector. The seven day sector of the building materials sector, the seven day of the seven day sector of building materials, the seven day of the seventh day of the seventh day of the seventh day of the seventh day of the seven day of the seven day of the seven day of the seven day sector of the sector of building materials, with an active and as of the release, the 60072 Ningbo Fuda Company Limited(600724) \ , Beijing Hanjian Heshan Pipeline Co.Ltd(603616) and other gains were higher.
Recently, the State Council held an executive meeting, which stressed the need to deploy and make good use of government bonds, expand effective investment, and promote the improvement of weaknesses, increase stamina and stable economic growth. In addition, the meeting decided to start a number of new water conservancy projects with mature conditions, and start a number of follow-up projects of the South-to-North Water Transfer Project, which have been included in the plan. The annual water conservancy investment in 2022 can be about 800 billion yuan, a year-on-year increase of 5.6%.
Kaiyuan Securities pointed out that recently, China’s epidemic has been repeated, and the cases have reached a phased high, which has affected the demand side such as travel, consumption and industry. The strong statement of the national standing committee meeting once again demonstrated the central government’s determination to stabilize growth. On the whole, the fundamentals of building materials are weak due to the impact of demand. If the epidemic is controlled in the future, the infrastructure and real estate development under the steady growth policy will start, and the prosperity of the industry is expected to rebound significantly. Recently, many places have gradually relaxed their real estate policies, mainly involving targeted relaxation of purchase restrictions, reduction of down payment ratio, issuance of house purchase subsidies, reduction of mortgage interest rate, cancellation of sales restrictions, provision of financial support for real estate enterprises, etc. the turning point of real estate may be approaching gradually, which is an excellent layout window period of the real estate industry chain.
Soochow Securities Co.Ltd(601555) believes that the short-term epidemic has a certain impact on the rhythm of cement delivery and price rise, but due to the further overweight of the steady growth policy, it is beneficial to the medium-term cement demand. It is expected that with the mitigation of epidemic control, cement is expected to return to the normal rhythm of price increase. The landing of infrastructure demand is expected to show significant improvement in the quarter. The markets along the Yangtze River and the Pearl River Delta with relatively high core capacity utilization and good industry pattern are expected to see more than expected cement price elasticity. Industry self-discipline + potential environmental protection and energy consumption constraints shrink the supply capacity of the industry. In the medium term, the capacity utilization rate of the industry is expected to remain high, and the profit center will remain medium to high. The dividend yield of 5% – 8% in 2021 makes the current valuation of 7 times P / E ratio have room for repair. It is suggested to focus on Huaxin Cement Co.Ltd(600801) , Anhui Conch Cement Company Limited(600585) and Gansu Shangfeng Cement Co.Ltd(000672) with strong performance certainty and bright spots in the extension of medium and long-term industrial chain, and Tangshan Jidong Cement Co.Ltd(000401) , Xinjiang Tianshan Cement Co.Ltd(000877) , Gansu Qilianshan Cement Group Co.Ltd(600720) , etc. that benefit from the integration of northern market and great business elasticity in the medium and long term.
Xinjiang Beixin Road & Bridge Group Co.Ltd(002307) 2 connecting board: the total market contracting volume in the first quarter reached the best level in the same period
In the morning trading on April 7, Xinjiang Beixin Road & Bridge Group Co.Ltd(002307) opened higher and went higher.
As of press time, the daily limit has been closed at 6.40 yuan, which is the daily limit for two consecutive trading days. On the news side, according to the ” Xinjiang Beixin Road & Bridge Group Co.Ltd(002307) voice”, in the first quarter of 2022, Xinjiang Beixin Road & Bridge Group Co.Ltd(002307) group achieved remarkable results in exploring potential markets and expanding original project resources. After winning the bid for the PPP project of front square and supporting facilities of Guangxi Mashan high-speed railway station with a total amount of 611 million yuan this month, the bid for bid section B1 of the main civil works of the reconstruction and expansion project of Liyuan (Jiangxi Zhejiang boundary) Dongxiang section of Jiangxi Shanghai Kunming Expressway with a single largest public bidding project of 1.64 billion yuan in the middle of the year pushed the total amount of new market contracting signed by the group in the first quarter to 5.76 billion yuan, the best level in the same period in history.
However, Xinjiang Beixin Road & Bridge Group Co.Ltd(002307) said that the gross profit of the project was affected by many factors, such as raw material price, labor cost, etc. The company will conduct in-depth control over the project cost management to maximize the profitability of the project. In addition, the actual consolidated net profit of the company is calculated by the summary of all subsidiaries and projects. The profitability of a single project does not constitute a prediction of the overall profitability of the company in the future. Second: the company will comply with national policies and plans, strive to seize every development opportunity and repay every shareholder with excellent benefits. Third: as of December 31, 2021, the company has 60 projects in hand in Xinjiang, accounting for 43.48% of the total number of projects in hand.
military industry sector rose Baota Industry Co.Ltd(000595) , Yunnan Xiyi Industrial Co.Ltd(002265) and other multi stock trading limits
The military industry sector rose in intraday trading on the 7th. As of press time, Baota Industry Co.Ltd(000595) , Shenzhen New Nanshan Holding (Group) Co.Ltd(002314) , Yunnan Xiyi Industrial Co.Ltd(002265) , Tianjin Tianbao Infrastructure Co.Ltd(000965) and other trading limits, Chengdu M&S Electronics Technology Co.Ltd(688311) , Xi’An Tian He Defense Technology Co.Ltd(300397) , Avary Holding (Shenzhen) Co.Limited(002938) .
China Securities Co.Ltd(601066) Securities pointed out that since the beginning of 2022, the CSI military industry index has fallen rapidly by 22.68%, the sector valuation has been fully digested, and the high cost performance has become more prominent. At present, the overall PE of the military industry sector is 58.69 times, at a historical low. From the tracking of the core key companies, the current military sector PE 34.6 times. The average valuation levels of upstream, midstream and downstream in 2022 are 29.3, 30.0 and 47.2 times respectively, corresponding to peg levels of 0.78, 0.71 and 2.06 in 22 years.
The agency believes that the current military industry sector is at the key node of the diffusion from local prosperity to overall prosperity, and the performance acceleration inflection point of middle and downstream companies is expected to come. At present, the valuation level of the sector is equivalent to the lowest valuation in 21 years, with higher investment cost performance. It is suggested to firmly increase the allocation proportion, and the sector is expected to regain its upward trend after the final shock bottoming stage.
The agency said that at present, the military industry is spreading from local prosperity to overall prosperity. The “14th five year plan” is expected to experience two rounds of capacity expansion. It is optimistic about the whole military industry chain in 2022.
1. Upstream of the industrial chain: focus on recommending leading companies in relevant subdivided fields that meet the three standards of “large industry space, excellent competition pattern and low localization rate”, mainly including key raw materials, core components and other fields.
2. Middle reaches of the industrial chain: focus on recommending leading companies in relevant subdivided fields that meet the three standards of “high entry barriers, strong system capacity and wide business scope”, mainly including composite materials and products, power supply system and other fields.
3. Downstream of the industrial chain: focus on recommending leading companies of complete machines and core subsystems that meet the three standards of “strong actual combat demand, many reserve models and mass production nodes”, mainly including fighter, helicopter, large aircraft, aeroengine, radar and other fields.
carbon black market quotation continues to rise focus on China’s industry leading companies (attached shares)
Baichuan Yingfu data show that since late March, the average market price of carbon black has increased by 884 yuan / ton to 9866 yuan / ton. At present, the mainstream of N330 focuses on 94009800 yuan / ton, and the higher intention of 10000 yuan / ton is reported.
Kaiyuan Securities pointed out that carbon black is the product of incomplete combustion or thermal decomposition of carbonaceous substances (coal, natural gas, fuel oil, etc.). According to the purpose, carbon black can be divided into rubber carbon black and non rubber carbon black. Conductive carbon black in non rubber carbon black has the characteristics of “three high and one excellent” with high specific surface area, high structure, high purity and excellent conductivity. With the promotion of new energy vehicles, lithium battery has become the main application scenario of conductive carbon black. Lithium ion batteries require the conductive agent to have the characteristics of excellent conductivity, low density, stable structure and chemical properties. Conductive carbon black not only meets the requirements that the conductive agent does not participate in the redox reaction in the battery and has high acid-base corrosion resistance, but also has the characteristics of low cost and light weight.
According to the statistics of GGII, the national power lithium battery shipment in 2021 was 220gwh, with a year-on-year increase of 175%. It is expected to exceed 450gwh in 2022. The increase of lithium battery shipment will bring considerable demand increment for conductive carbon black. At present, the international mainstream conductive carbon black enterprises include France yiruishi, America Cabot, Japan Lion King and Germany eurilon (Evonik Degussa). China Jiangxi Black Cat Carbon Black Inc.Ltd(002068) has maintained a leading position in the carbon black industry in China since 2004. Since 2017, the company began to layout the field of special carbon black. At present, the company has a production capacity of 130000 tons of special carbon black, including about 10000 tons of conductive carbon black. At present, the company is selling conductive carbon black products, which are mainly used in the fields of cable shielding materials and conductive color masterbatch, and has been studying the standard medium and high-end conductive carbon black. In the long run, the vigorous development of China Shanxi Guoxin Energy Corporation Limited(600617) automobile industry will further drive the progress of conductive carbon black industry, and domestic substitution is a long-term trend.
the world’s first “hydrogen production from waste + carbon resource” project was completed within this year related industrial chain or concern
According to Polaris hydrogen energy network, the world’s first “waste hydrogen production + carbon recycling” green hydrogen and green carbon plant invested and built by Chengkang hydrogen and carbon new material technology Co., Ltd. will be completed in Xiangyang City, Hubei Province this year. The project has successfully combined the disposal of sludge and kitchen, biogas production and hydrogen production from biogas. The hydrogen production process is synchronized with carbon fixation to produce carbon black, graphite and graphene. Finally, green hydrogen serves three industries such as hydrogen fuel cell vehicles (harmless solid waste, carbon recycling and integrated hydrogen production and hydrogenation) and more than a dozen key technical links, forming a replicable green hydrogen production, hydrogenation and Use the whole industry chain mode of integrated production and supply.
Ping An Securities pointed out that China has become the world’s largest producer of hydrogen, but at present, hydrogen mainly comes from gray hydrogen (fossil fuel), but the by-product hydrogen of chemical process has low cost and large output, and matches with hydrogen energy demonstration cities, which is the most realistic hydrogen source in the short term; With the promotion of the carbon market, the demand for green hydrogen is gradually increasing. In the future, the production of green hydrogen from electrolytic water supporting large-scale photovoltaic power generation or wind power generation will become a trend. As the hydrogen energy industry is gradually used in automobile and industry, the utilization of hydrogen energy will gradually increase. Pay attention to the application of hydrogen by-product of propane dehydrogenation and ethane cracking. The development of green hydrogen industry will promote the demand for electrolytic cells and new energy equipment, and new energy operators will also benefit.
Shanxi Securities Co.Ltd(002500) believes that China’s hydrogen energy industry is still in its primary stage, and the initial focus is on hydrogen production industry, especially hydrogen production from renewable energy. Downstream applications take fuel cell vehicles as the initial breakthrough, and will gradually expand to traditional high emission fields such as transportation, electric power, chemical industry and metallurgy in the future, so as to meet the long-term carbon neutralization goal. The overall emphasis on technology development in the planning is the overall emphasis on technology development in the overall emphasis on technology development in the planning, which highlights the priorities to fill the gaps and core technologies. It is suggested that the medium to long term focus on hydrogen production technologies and enterprises that have a strong industry, University, research, and research, and cooperate with international leading technology companies, hydrogen production technologies and high-pressure hydrogen storage technology enterprises, high-pressure hydrogen storage technology enterprises, and vehicle fuel cell core proton exchange membrane enterprises at the core proton of the fuel cell for vehicle fuel cell, such as: Tpv Technology Co.Ltd(000727) 23 yes.
