Index
On Wednesday, April 20, 2022, as of the closing, the Shanghai Composite Index fell 1.35% to 315105 points, the Shenzhen composite index fell 2.07%, the gem index fell 3.66%, and the turnover between the two markets was 820.7 billion yuan. In terms of sectors, coal, real estate, steel and power equipment led the rise, down 5.30%, 4.95%, 4.11% and 4.08% respectively.
Comments
The three major indexes fell sharply today. In the new infrastructure, computer equipment, software development and communication services fell slightly, down 0.22%, 0.24% and 0.48% respectively. In terms of news, the high-level meeting focused on the development of digital economy. Yesterday, the 25th meeting of the central deep reform commission was held. The meeting defined the important policy directions such as the construction of digital government, and considered and adopted the guiding opinions on strengthening the construction of digital government and other policy documents. In addition, the Ministry of industry and information technology pointed out at the press conference on the development of industry and information technology in the first quarter that we should strengthen new infrastructure and play a “first hand” in the digital economy. We will moderately advance the construction of the three systems of network, platform and security, expand the coverage of regions, industries and fields, promote the circulation, effective utilization and security of industrial Internet data, and lay a solid foundation for the development of digital economy. We believe that in the stage of wide market shock, the layout should focus on two points: one is that the industry conforms to the policy orientation, and the other is that the performance is highly uncertain. It is suggested to pay attention to new energy infrastructure, digital infrastructure and other directions.
Industry dynamics
On April 20, the China Banking and Insurance Regulatory Commission and the Ministry of transport issued the opinions on the banking and insurance industry supporting the high-quality development of highway transportation. The opinions encouraged banking and insurance institutions to provide financial support for qualified green low-carbon highway projects and help the transportation sector achieve carbon peak and carbon neutrality. Support transportation enterprises to effectively revitalize the highway stock assets through asset securitization (ABS) and real estate investment trusts (REITs) in the field of infrastructure under the premise of legal compliance and controllable risk. Support insurance companies to participate in highway transportation construction. Give full play to the advantages of large-scale, long-term and high stability of insurance funds, and encourage insurance institutions to participate in the construction of major highway transportation infrastructure, new transportation infrastructure and other projects in the form of creditor’s rights, equity, combination of equity and debt, asset support plan and private fund. Insurance institutions are encouraged to launch appropriate highway traffic project disaster insurance products and services according to the characteristics of different types of projects, and actively participate in highway disaster insurance and other businesses. Insurance funds are encouraged to legally and legally participate in highway development by purchasing local government bonds under the premise of controllable risk. (website of China Banking and Insurance Regulatory Commission)
Company dynamics
Qingdao East Steel Tower Stock Co.Ltd(002545) ( Qingdao East Steel Tower Stock Co.Ltd(002545) ): the company publishes the annual report of 2021. During the reporting period, the company’s total operating revenue was 2781752600 yuan, an increase of 4.92% over the same period of last year; The operating profit was 502891500 yuan, an increase of 49.19% over the same period last year; The total profit was 499615800 yuan, an increase of 39.39% over the same period last year; The net profit attributable to the shareholders of the listed company was 403938300 yuan, an increase of 30.77% over the same period last year. （iFinD）
Risk warning: the implementation of the policy is less than expected; The price rise of raw materials exceeded expectations; The epidemic affected the economy more than expected.
