Index
On Thursday, April 7, 2022, as of the closing, the Shanghai stock index fell 1.42% to 323670 points, the Shenzhen Component Index fell 1.65%, and the gem index fell 2.10%. The turnover between the two markets was 923 billion yuan, and the north capital sold a net 608 million yuan today. In terms of sectors, real estate fell 3.69%, infrastructure projects fell 1.06%, ordinary steel fell 0.63%, and cement rose 0.72% against the market
Comments
The Federal Reserve released the minutes of the March monetary policy meeting yesterday. There were several expectations of 50 point interest rate increase and table contraction. Affected by this, the market fell sharply today. The main reason for the sharp decline in the real estate sector is that the financing channels of real estate enterprises are still limited, and there is no obvious change in consumers' willingness to buy houses. Real estate enterprises have not yet come out of the fundamental dilemma. This wave of general rise in real estate is more speculation following the loosening of policies. On this point, we have recently reminded us to guard against the risk of ebb tide. The cement sector rose against the market trend. Recently, cement prices in many places have increased. The imbalance between cement supply and demand is the main reason for the rise in cement prices. According to the data of the Bureau of statistics, from January to February 2022, the national cumulative cement output was 199 million tons, a year-on-year decrease of 17.8%, while the growth rate of infrastructure investment increased by 8.1% year-on-year. The decline of supply and the increase of demand side affected the cement price; In addition, coal prices remained high, and the rise in oil prices led to the rise in the freight of raw materials, which increased the cost of cement production to a certain extent. Infrastructure construction is an important starting point for steady growth this year. The investment growth rate in the first quarter is in line with expectations and is expected to exceed expectations in the second quarter, which plays a positive role in driving the cement sector. At present, the external environment of the market fluctuates greatly, which continues to have an impact on a shares. It is suggested to focus on the layout of new and old infrastructure related to steady growth.
Industry dynamics
On April 7, the national development and Reform Commission issued the "14th five year plan" for the construction of Beibu Gulf Urban Agglomeration, which proposed that by 2025, Beibu Gulf urban agglomeration will further develop and grow, the urbanization rate of permanent residents will increase by more than 5 percentage points, the level of integrated development will continue to improve, and the blue Gulf urban agglomeration with beautiful ecological environment, vibrant economy and excellent quality of life will be preliminarily completed. The level of infrastructure connectivity has been significantly improved, the comprehensive transportation network with high-speed railway, ordinary speed railway, intercity railway and high-grade highway as the backbone has been improved, the fast transportation channel connecting the "three South" has been basically completed, the container throughput of Guangxi Beibu Gulf international gateway port and Hainan Yangpu regional international container hub port has reached 10 million TEUs and 5 million TEUs respectively, and the construction of important bulk commodity storage and transportation bases in southern China has been accelerated. (NDRC website)
Company dynamics
Ming Yang Smart Energy Group Limited(601615) ( Ming Yang Smart Energy Group Limited(601615) ): the company expects to realize the net profit attributable to the shareholders of the listed company from January to March 2022 from 1300000000 yuan to 155000000 yuan, with a year-on-year increase of 408.02% to 505.72%. The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 129 million yuan to 154 million yuan, with a year-on-year increase of 440.93% to 545.76%. （iFinD）
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.
