Key investment points:
Environmental protection perspective: the Ministry of ecology deploys the investigation of sudden environmental risks
The Ministry of ecology and environment held a national ecological and environmental security video conference to deploy and carry out the investigation and rectification of potential risks of environmental emergencies and the prevention and control of environmental security risks. 1) Carry out investigation and rectification of potential risks of environmental emergencies. The investigation is carried out around high-risk enterprises involving heavy metals, hazardous wastes and hazardous chemicals, industrial parks, water sources and mines with many problems left over by historical pollution. Focusing on nuclear and radiation safety risk prevention, we carried out in-depth three-year action to investigate potential nuclear and radiation safety hazards. Scientifically formulate the investigation and rectification work plan in combination with the local reality, and clarify the specific work contents and promotion measures. 2) Adhere to scientific investigation, compact the main responsibility of the enterprise, establish a risk and hidden danger account, and clarify the rectification time limit, responsible department and responsible person. We should adhere to closed-loop management, promote the implementation of rectification according to the time limit, and ensure the completion of comprehensive rectification. 3) Ecological and environmental departments at all levels should adhere to systematic thinking, consciously integrate safety development into the whole process of ecological and environmental protection work, such as the formulation and revision of laws and standards, environmental risk assessment of construction projects, environmental supervision and law enforcement, and do a good job in coordination and linkage with other departments.
Two main lines of domestic investment: special focus on “Neutralization” and “new focus on” carbon substitution “
After 2018, China will strengthen the cultivation of specialized, special and new enterprises, promote the development of small and medium-sized enterprises to “specialization, refinement, characteristics and novelty”, and strive to achieve the goals of “making up for weaknesses”, “forging long sectors” and “filling gaps” in key links and key fields of the industrial chain. The cultivation of specialized and special new enterprises focuses on the “four basic” fields of industry or the ten key industrial fields of manufacturing power. At present, 4922 specialized and special new “little giant” enterprises have been cultivated, including 361 A-share listed companies. Provinces and cities have successively issued policies to vigorously support the cultivation of specialized and special new enterprises at the national, provincial and municipal levels, and encourage small and medium-sized enterprises to increase R & D efforts to achieve fine and high-quality development. Considering the strength of policy support and the urgency of demand, it is suggested to pay attention to two main investment lines: 1) domestic substitution: there is a problem of high import dependence in some “neck” areas of manufacturing industry. Under the background of trade friction, the demand for domestic substitutes such as core parts is becoming stronger and stronger. Made in China 2025 proposes that 70% of core basic parts and key basic materials will be independently guaranteed by 2025. With the encouragement of policies, the R & D process of alternative products with core competitiveness is expected to accelerate and drive the rapid growth of relevant enterprises. 2) “Carbon neutralization”: the 30 / 60 target is determined. It is expected that during the 14th Five Year Plan period, the installed scale of photovoltaic and wind power and the penetration rate of new energy vehicles are expected to accelerate, driving the rapid growth of the demand for components and equipment in the whole industry chain.
Industry rating and investment strategy: the short-term and medium-term demand of some segments of the environmental protection industry has increased, and the overall valuation of the industry has been lower than the average value of nearly one year, so it can be arranged on bargain hunting; The urgent need to cultivate “specialized and special new” enterprises and strong policy support are conducive to the rapid development of enterprises in the industry. Based on this, we give the “recommended” rating to the environmental protection & specialized and special new industry.
Suggestions for attention this week: Pony Testing International Group Co.Ltd(300887) (buy), Gcl Energy Technology Co.Ltd(002015) , Shenzhen Yanmade Technology Inc(688312) , Guangdong Huatie Tongda High-Speed Railway Equipment Corporation(000976)
Risk warning: the progress of policy implementation is less than expected; The order growth rate of listed companies was lower than expected; Changes in tax preference system; The progress of M & A is less than expected; Repeated impact of the epidemic; Focus on the company’s performance less than expected.
