Index
On Thursday, April 14, 2022, as of the closing, the Shanghai Composite Index rose 1.22% to 322564 points, the Shenzhen Composite Index rose 1.27%, the gem index fell 0.02%, and the turnover between the two markets was 870.1 billion yuan. In terms of sectors, coal, food and beverage and real estate led the rise, rising 4.52%, 3.93% and 3.71% respectively.
Comments
The “notice” of the national Standing Committee lowered the reserve requirement, and the market ushered in a rebound. In the infrastructure and upstream and downstream sectors, ordinary steel, infrastructure engineering and cement increased by 2.44%, 1.39% and 1.17% respectively; UHV and 5g also rebounded. The deterioration of geopolitical situation, the rapid rise of US bond interest rates and the severe epidemic situation in China still exist. The downward pressure on the economy is huge. The implementation of RRR reduction is expected to have a certain hedging effect on the interfering factors and stimulate the real economy. On April 12, the State Council Information Office held a regular briefing on the policies of the State Council. Vice Minister of Finance Xu Hongcai introduced the situation of accelerating the issuance and use of government bonds. Among the special bonds issued, 415.7 billion yuan has been supported for infrastructure in municipal and industrial parks, 231.6 billion yuan for transportation infrastructure, 225.1 billion yuan for social undertakings, 2016 billion yuan for affordable housing projects, 100.4 billion yuan for agriculture, forestry and water conservancy, 46.8 billion yuan for ecological and environmental protection, energy Logistics infrastructure such as urban and rural cold chain was 25.1 billion yuan. Infrastructure construction projects and people’s livelihood improvement projects are the key directions for the use of special bonds. The issuance of special bonds and social investment in the second quarter continued to “follow the project”, and infrastructure is still the focus. At the bottom stage of market shock, it is suggested to continue to pay attention to the infrastructure sector.
Industry dynamics
On April 13, the Ministry of industry and information technology issued the 2022 work plan of the industrial Internet special working group, which mentioned that the annual objectives and achievements include: Building 10 5g fully connected factory benchmarks; Promote the construction of professional service platform in key industries and enhance the public service capacity of “5g + industrial Internet” in the industry, such as testing, verification, evaluation and monitoring; Continue to organize special projects for new infrastructure construction and accelerate the development of 5g network and other new infrastructure; Build a secondary node of energy industry identity resolution based on trusted blockchain, build a trusted blockchain integrated service infrastructure, and build an energy industry identity resolution service system; Basically completed the construction of regional sub centers of national industrial Internet big data centers in Chongqing, Shandong, Zhejiang, Liaoning, Jiangsu and Guangdong; Build the energy industry internet into a national energy industry big data sub center. (website of the Ministry of industry and information technology)
Company dynamics
Xinjiang Communications Construction Group Co.Ltd(002941) ( Xinjiang Communications Construction Group Co.Ltd(002941) ): the company expects the net profit attributable to the shareholders of the listed company from January to March 2022 to be 3.2 million to 4.8 million, an increase of 113.24% to 119.86% over the same period of the previous year. After deducting non recurring profits and losses, the loss was 24-16 million yuan, an increase of 24.79% – 49.86% over the same period of the previous year. Basic earnings per share: 0.0050 yuan / share -0.0074 yuan / share. The main reason for the increase of operating performance over the same period of last year is that the company’s receivables received better in the first quarter and the reversal amount of bad debt reserves increased significantly over the same period of last year. （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.
