Follow up comments
On April 13, 2022, the Shanghai Composite Index closed at 318682 points, down 0.82%; The Shenzhen Component Index closed at 1156817 points, down 1.60%. The Chongqing composite index, which we focus on, closed at 348420 points, down 2.32%; Sichuan composite index closed at 787693 points, down 1.04%. The top three stocks of Listed Companies in Sichuan and Chongqing are: Guanghui Logistics Co.Ltd(600603) ( Guanghui Logistics Co.Ltd(600603) , 10.02%), berry group ( Berry Genomics Co.Ltd(000710) , 10.01%), and San Yang Ma (Chongqing) Logistics Co.Ltd(001317) ( San Yang Ma (Chongqing) Logistics Co.Ltd(001317) , 9.99%). The 42 companies we focused on fell by an average of 2.17%, among which the top three stocks were: Sichuan Yahua Industrial Group Co.Ltd(002497) ( Sichuan Yahua Industrial Group Co.Ltd(002497) , 7.55%), Lier Chemical Co.Ltd(002258) ( Lier Chemical Co.Ltd(002258) , 1.38%), Pangang Group Vanadium Titanium & Resources Co.Ltd(000629) ( Pangang Group Vanadium Titanium & Resources Co.Ltd(000629) , 1.34%). By industry, the top three sectors in Sichuan and Chongqing are: real estate (1.17%), steel (0.92%) and non-ferrous metals (- 0.07%).
According to the data of Sichuan Bureau of statistics, the CPI of Sichuan increased by 0.9% year-on-year in March, an increase of 0.3 percentage points over the previous month. Among them, the price of food, tobacco and alcohol decreased by 2.2%, the price of transportation and communication increased by 5.5%, the price of education, culture and entertainment increased by 2.9%, the price of other supplies and services increased by 1.9%, the price of clothing increased by 1.7%, the price of housing increased by 1.2%, the price of daily necessities and services increased by 0.9%, and the price of medical care increased by 0.7%. Specifically, affected by the high price of bulk commodities and the recent increase in energy prices, CPI has expanded compared with last month, especially due to the increase of transportation costs and the large increase of CPI in transportation, communication and fresh vegetables. At present, the pig industry is at the bottom of the pig cycle, and the pork price with a decrease of 43.4% continues to suppress CPI. On the whole, Sichuan and Chongqing are less affected by the epidemic, and regional consumption has strong resilience. Under the expectation that the scissors gap between PPI and CPI will gradually narrow, the prosperity and excess return of the food sector have increased significantly. At present, some companies have raised prices and their performance can be repaired.
Industry dynamics
According to the data of Sichuan Bureau of statistics, the PPI of Sichuan Province increased by 5.9% year-on-year and 0.5% month on month in March; The purchase price of industrial producers increased by 8.1% year-on-year and 0.6% month on month. On a year-on-year basis, the price of means of production increased by 7.9%, the price of means of living increased by 0.7%, the price of fuel and power increased by 29.8%, the price of non-ferrous metal materials and wires increased by 15.7%, the price of chemical raw materials increased by 13.5%, and the price of textile raw materials increased by 9.7%. (China News Network)
Company dynamics
Chengdu Hongqi Chain Co.Ltd(002697) ( Chengdu Hongqi Chain Co.Ltd(002697) ): the first quarter report of 2022 was released. In the first quarter of 2022, the company achieved an operating revenue of 2.441 billion yuan, a year-on-year increase of 7.99%, and the net profit attributable to shareholders of listed companies was 122 million yuan, a year-on-year decrease of 1.58%. （wind）
Chengdu Xiling Power Science & Technology Incorporated Company(300733) ( Chengdu Xiling Power Science & Technology Incorporated Company(300733) ): released the annual report for 2021, the company achieved an operating revenue of 728 million yuan in 2021, with a year-on-year increase of 46.14%, and a net profit attributable to shareholders of listed companies of 20 million yuan, with a year-on-year increase of 147.03%. （wind）
Risk warning: the economic recovery is lower than expected and the risk of covid-19 outbreak.
