The Rural Revitalization Strategy and “steady growth” work together, and the demand side of the infrastructure industry chain has strong certainty
On Thursday (April 7), the national development and Reform Commission held the 2022 plenary meeting of the coordination and promotion mechanism for the implementation of the strategic plan for Rural Revitalization (20182022). The meeting stressed that 2022, as the final year of the implementation of the plan, should complete all the tasks put forward in the plan. To revitalize rural areas, infrastructure construction should be the first. We should strengthen the construction of rural roads, logistics, water conservancy, energy, new generation networks and other infrastructure, continue to increase investment and make up for the shortcomings of rural infrastructure. In addition, on the basis of creating a fast and convenient rural life, further improve the quality of life, focus on the key tasks of garbage treatment, sewage treatment, toilet revolution, greening and so on under the guidance of building a beautiful and livable village. The Rural Revitalization Strategy is a major historical task for China to win a decisive victory in building a well-off society in an all-round way and building a modern socialist country. It is the general starting point for doing a good job in the work of “agriculture, rural areas and farmers” in the new era. The demand side has strong certainty and benefits: Anhui Conch Cement Company Limited(600585) , Huaxin Cement Co.Ltd(600801) , Zhejiang Weixing New Building Materials Co.Ltd(002372) . 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. we believe that the turning point of real estate may be approaching gradually, which is an excellent layout window period of the real estate industry chain. Beneficiary object: consumer building materials with greater flexibility under the expected improvement of real estate: Beijing Oriental Yuhong Waterproof Technology Co.Ltd(002271) , Guangdong Kinlong Hardware Products Co.Ltd(002791) , Keshun Waterproof Technologies Co.Ltd(300737) , China Liansu. In the context of “double carbon”, the low-carbon transformation of energy is the main line of certainty, and carbon fiber, photovoltaic glass and glass fiber will continue to benefit from the growth of demand. Beneficiary: carbon fiber Faucet: Weihai Guangwei Composites Co.Ltd(300699) , Zhongfu Shenying; Photovoltaic glass Faucet: Zhuzhou Kibing Group Co.Ltd(601636) , Flat Glass Group Co.Ltd(601865) ; Glass fiber Faucet: China Jushi Co.Ltd(600176) , Sinoma Science & Technology Co.Ltd(002080) .
Market review this week
This week (April 4-april 8, 2022), the building materials index rose by 3.93%, the CSI 300 index fell by 1.06%, and the building materials index outperformed the CSI 300 index by 4.99 percentage points. In the past three months, the CSI 300 index fell by 12.66%, the building materials index fell by 9.97%, and the building materials sector outperformed the CSI 300 index by 2.69 percentage points. Over the past year, the CSI 300 index fell 14.49%, the building materials index fell 8.4%, and the building materials sector outperformed the CSI 300 index by 6.09 percentage points.
Plate data tracking
Cement: as of April 8, p.o42 5. The average price of bulk cement was 468.38 yuan / ton, down slightly by 0.86% month on month; The national clinker storage capacity ratio was 62.25%, with a month on month increase of 3.19%; The price difference between cement and coal was 303.28 yuan / ton, down slightly by 0.27% month on month.
Glass: as of April 8, the average spot price of float glass nationwide was 2039.7 yuan / ton, down 13.93 yuan / ton month on month, or 0.68%; The average price of photovoltaic glass was 168.23 yuan / weight box, up 3.31% month on month; The weight of the float method was 57.73 million, an increase of 58.89% over the float method; The price difference of float glass soda ash petroleum coke was 19.55 yuan / weight box, down 14.25% month on month; The price difference of float glass soda ash heavy oil was 29.67 yuan / weight box, down 5.14% month on month; The price difference of float glass soda ash natural gas was 40.15 yuan / weight box, down 3.45% month on month; The price difference of photovoltaic glass soda ash natural gas was 105.12 yuan / weight box, up 5.19% month on month.
Glass fiber: as of April 8, the mainstream ex factory price of alkali free 2400 winding direct yarn was Nanjing Gaoke Company Limited(600064) 50 yuan / ton, unchanged month on month; The mainstream price of 2400tex jet ply yarn is 955010000 yuan / ton, unchanged month on month; The mainstream price of 2400tex SMC composite yarn was 8 Chengdu B-Ray Media Co.Ltd(600880) 0 yuan / ton, down slightly month on month. Electronic yarn prices are now mainstream transactions ranging from 85009000 yuan / ton, down 12.5% month on month.
Carbon fiber: as of April 8, the average price of small tow carbon fiber in China was 225 yuan / kg, unchanged month on month; The average price of large tow carbon fiber in China was 145 yuan / kg, unchanged month on month; The national carbon fiber inventory was 12 tons, unchanged month on month; The operating rate of carbon fiber enterprises was 65.76%, unchanged month on month; The gross profit of carbon fiber was 5706667 yuan / ton, a month on month decrease of 400 yuan / ton, a decrease of 0.7%.
Risk tip: the price of raw materials has risen sharply; Supply and demand mismatch risk; Downside risks of economic growth; China’s monetary and real estate policies are becoming stricter; China’s credit is lower than expected
