Daqin Railway Co.Ltd(601006) just announced:
Datong Qinhuangdao railway freight car accident caused no casualties
Daqin Railway Co.Ltd(601006) 2022 announced in the morning that at about 13:00 on April 14, 2022, the freight train reserved at cuipingshan station of Daqin Line slipped away, resulting in 17 freight trains off the line, of which 11 fell under the railway bridge, resulting in the interruption of traffic on Daqin line. The accident did not cause casualties.
After the accident, the railway department immediately launched the emergency plan, sent 6 rescue trains and more than 1000 railway employees to the scene, carried out rescue from both ends of the section parked trucks, relieved the section parked vehicles, and recovered the off-line vehicles. The on-site rescue work was progressing smoothly.
At present, the company is going all out to carry out on-site rescue work, rush through the line as soon as possible, and strive to resume traffic as soon as possible.
Opening on April 15, Daqin Railway Co.Ltd(601006) opened nearly 1% lower. The latest market value is 100.5 billion yuan.
Kaifeng Investment: 760 million products held by self owned funds
At a time when market confidence is depressed, another 10 billion private placement company has big news: Kaifeng has invested its own funds to hold 760 million copies of the company’s products, with a total amount of nearly 1 billion yuan.
On the 14th, 10 billion private equity Kaifeng investment released an announcement on holding the company’s products with its own funds, saying that based on the confidence in the long-term and steady development of China’s capital market, the sincerity consistent with the interests of investors and the determination to practice the long-term values, Kaifeng investment has invested all its working capital into the company’s related products over the years.
As of April 13, 2022, the company held 760665200 products with its own funds. According to the reporter, the amount of alloy is nearly 1 billion yuan.
According to the reporter, this is the total scale of Kaifeng’s own funds invested in products, excluding other follow-up investment scales such as employee funds and investment managers.
latest view: high dividend and low value sectors have obvious advantages
stocks, Kaifeng believes that at present, the economic data is expected to remain weak. There are three reasons. First, the epidemic situation in Shanghai continues to spread beyond expectations, and the logistics and production are obviously blocked. The economic slowdown or even stagnation in the Yangtze River Delta has brought great pressure to the national economy. The second is that real estate and other “stable growth” areas have not improved significantly. Micro data such as excavator sales data in March also verify the weakness of fundamentals. Third, with the passage of time, the decline in overseas demand is expected to continue to strengthen, and the export-side profits that previously oversupported the economy will also be under pressure.
In terms of capital, China’s public fund issuance is sluggish, the current situation is difficult to improve, and the participation of leveraged funds in financing continues to decline. In terms of overseas funds, the interest rate spread between China and the United States is still narrowing, and there are many external risk factors. The transaction proportion of northbound funds in the whole market has remained relatively low in recent years. On the whole, before the improvement of social finance and the recovery of the profit-making effect of the stock market, the capital side of China’s stock market is expected to be difficult to improve.
Looking forward to the follow-up, before China’s policy and epidemic situation are clear, the high dividend and undervalued sectors still have obvious advantages.
bonds first, interest rate bonds. It is expected that the bond market is still in the window period of reducing reserve requirements and interest rates in April, and there is still a certain downward space for the yield of short-term bond market. However, from the medium-term perspective, considering the annual GDP growth target of 5.5%, the subsequent credit easing policy will be further overweight. It is expected that the real estate policy will be gradually relaxed, while the medium-term perspective remains relatively cautious.
Second, the follow-up of credit bonds still needs to continue to pay attention to the sales and the repair of private real estate financing. In the medium and short term, we expect the monetary policy to remain stable and loose, the space for bond market adjustment is limited, credit bonds are still a good asset allocation, and there will continue to be a shortage of structural assets.
futures first, in terms of steel, it will continue to pay attention to the demand and steel inventory trend; in terms of raw materials, the resumption of production of steel plants and the high-level operation of molten iron, it will pay attention to the subsequent replenishment of steel plants; in terms of coking coal, it will mainly pay attention to the commencement of follow-up main production areas and the progress of customs clearance of Mongolian coal; in terms of coke, it will mainly pay attention to whether the transportation situation can be improved and the pressure of coal mines can be relieved.
Second, the nonferrous metals sector. At present, the market needs to focus on the confusion of the logistics system and the weakening of downstream demand caused by the spread of the epidemic. But at the same time, Kaifeng said it also needs to pay attention to whether the real demand of terminals under the deterioration of the epidemic situation has been greatly affected in the medium and long term. From a fundamental point of view, there is no large-scale mining at the supply side of copper. The demand side is affected by the epidemic within a week, and the downstream point price procurement is poor. At the same time, the global inventory shows signs of stagnation in the speed of going out of the warehouse. It should be noted that the downstream is not without actual demand, but more due to the interference of demand rhythm caused by logistics and other factors. Therefore, under the influence of pessimistic expectations in the future, the price may be adjusted, but after that, with the recovery of demand, the price is still easy to bottom up. Among them, it is expected that aluminum may gradually find better bottom support under the poor spot sentiment. Zinc is currently performing relatively well, with good linkage between zinc and the outer disk. When the fundamentals return to normal in the future, zinc prices will also have upward momentum.
Third, the energy and chemical sector. From the medium-term perspective, there is no unanimous expectation on the current situation between Russia and Ukraine and the issue of Iran. There is room for oil prices to rise or fall. It is expected that the sharp shock pattern will be maintained, and when a large number of war reserves are released, the central center will move down. The pattern of oil prices with a ceiling may be maintained, and the tense fundamentals in the medium-term may provide some bottom support for the shock oil price. In the later stage, we will pay attention to three aspects: first, we will pay attention to Russia’s exports to see whether there is a substantial relaxation of self sanctions for European refineries; second, we will pay attention to Iran’s negotiations; third, the cost of natural gas supplied from April 1 should be settled in the second half of April or may, and we will pay attention to whether Russia is “cut off”.
