Today (January 14), the three major A-share indexes opened low. At the beginning of the session, the stock index differentiation was obvious, the Shanghai index remained low and fluctuated, while the Shenzhen Composite Index and the gem index rose rapidly and turned red and rose smoothly. From the disk point of view, the light index and heavy stock market reappeared. The pharmaceutical industry chain subject led by traditional Chinese medicine and covid-19 detection broke out in an all-round way. The concept of meta universe rose "Hi" again. The plates such as automotive electronics and prefabricated vegetables also performed prominently, and the local profit-making effect still exists.
Guosheng Securities believes that from the perspective of institutional position adjustment cycle, it is difficult to complete the significant change of position structure in the next few trading days, there are still great differences in the later stage, and it is the most difficult to operate at present. However, due to the rapid withdrawal, after the release of short-term risks, the market sentiment will eventually return when there is no significant negative economic data, liquidity data and policy guidance. Some suggestions can appropriately consider low absorption near the annual line at this time.
Under the background of scattered A-share hotspots and intensified plate rotation, possible investment opportunities are hidden. Select some institutional research reports, and let's see what themes are available for reference.
[theme one] meta universe
Hualong Securities pointed out that the meta universe is known as the ultimate form of the next generation Internet. The meta universe industrial chain extends outward from the underlying infrastructure to the user experience level. It can be divided into seven levels, including infrastructure, human-computer interaction, decentralization, spatial computing, creator economy, discovery, experience and so on.
At present, the meta universe belongs to the concept introduction period, and the substantive breakthrough of its application still needs a lot of technical accumulation, with great uncertainty. From the perspective of industrial chain, we can pay attention to three main lines: 5g, hardware equipment AR / VR and cloud computing.
Soochow Securities Co.Ltd(601555) said that digital assets are deeply rooted in the hearts of the people and are one of the most important marginal and investment opportunities in this round of meta universe development. Since 2020, the dau of coinbase, a digital currency trading platform, has achieved rapid growth, with a peak of nearly 10 million in 2021. At the same time, under the background of the epidemic, loose monetary policy was implemented overseas, which promoted the sharp rise in the price of digital money represented by bitcoin. The listing of roblox in U.S. stocks and NVIDIA's marketing and product promotion in virtual human make secondary market investors pay attention to the investment opportunities of metauniverse, especially the right confirmation and trading of digital assets based on blockchain technology.
Sealand Securities Co.Ltd(000750) mentioned that they are optimistic about the development opportunities brought by the development of metauniverse gradually becoming a market consensus and giants increasing investment in the ecological construction of metauniverse. At present, the layout of A-share media companies is mainly concentrated in the application layer, such as virtual platform and immersive content, digital assets, digital identity and offline experience. Some companies also have layout in the technical layer, such as hardware entrance and 3D technology. []
[Topic 2] traditional Chinese medicine
Guosen Securities Co.Ltd(002736) mentioned that policy support continued to increase to grasp the pro cyclical investment opportunities under the undervalued value of the traditional Chinese medicine sector. We should focus on three types of targets: 1) expand and subdivide the track. Resource attributes create a policy haven, medicine and food are of the same origin, expand market demand, the liberalization of standards accelerates the development of the industry, and the traditional Chinese medicine formula granule industry is expected to usher in the industry expansion period. Optimistic about the production enterprises of traditional Chinese medicine formula granules with upstream planting (breeding) resources, high standards and early layout; 2) It is a high-quality enterprise that returns to the drug attribute, has definite product curative effect and has the ability to continuously produce new products. Efficacy first, clinical evidence-based is the king, and we are optimistic about excellent traditional Chinese medicine enterprises whose products have been fully verified by evidence-based medicine and recognized by doctors; 3) Object of consumption attribute. The ability to pay is strong, and the impact of medical insurance policy is small. It is a leading OTC enterprise with low unit price, wide function, popular brand OTC, optimistic about products occupying consumers' minds, stable pattern and good brand image under long-term accumulation.
Capital Securities pointed out that the recent market performance of the traditional Chinese medicine industry is strong, and there is a strong foundation for the sustainability of the traditional Chinese medicine market in terms of traditional Chinese Medicine Inheritance and innovation, payment, price increase and volume collection. First, the reform of the evaluation system of traditional Chinese medicine and the optimization of registration classification laid the first year for the great development of classic famous prescriptions, tested prescriptions and national drugs of traditional Chinese medicine. In 2021, the State Food and Drug Administration urgently approved three new traditional Chinese medicine drugs against covid-19 virus, and approved the listing application of eight new traditional Chinese medicine drugs such as Yishen Yangxin Anshen tablets, with the largest number of new traditional Chinese medicine drugs approved in recent five years. Second, the payment policy is conducive to the great development of traditional Chinese medicine. Recently, the State Administration of traditional Chinese medicine and the State Medical Insurance Bureau jointly issued the guiding opinions on medical insurance supporting the inheritance, innovation and development of traditional Chinese medicine, adding medical insurance at the payment end to support the inheritance and development of traditional Chinese medicine. Third, due to the price rise of upstream traditional Chinese medicine, traditional Chinese medicine (decoction pieces and proprietary Chinese Medicine) is one of the few pharmaceutical products with the basis of price rise. Due to the rise of raw material prices, many traditional Chinese medicine enterprises have successively announced the price rise of some products. Fourth, the purchase of traditional Chinese medicine with quantity, the centralized collection and landing of traditional Chinese medicine are relatively mild, the number of exclusive varieties of traditional Chinese medicine is large, and the competition is relatively mild. []
[Topic 3] automotive electronics
Minsheng Securities believes that after the end of this round of active replenishment cycle, the industry is expected to enter the passive replenishment stage in May. After the recovery period, the valuation and repair of the passenger car sector is sufficient, which is significantly higher than that of the parts sector. There may be only band opportunities in the passenger car sector. At the same time, the profit growth of passenger cars was lower than that of spare parts. After the replenishment cycle was opened, the valuation of the sector began to fluctuate or shrink, and the performance was king. The automobile sector is likely to generate sub industries in rotation, and the parts sector is expected to become the optimal configuration. For passenger cars, it is recommended to focus on Geely Automobile, Guangzhou Automobile Group Co.Ltd(601238) , Great Wall Motor Company Limited(601633) and Chongqing Changan Automobile Company Limited(000625) ; The parts section recommends Anhui Zhongding Sealing Parts Co.Ltd(000887) , Zhejiang Asia-Pacific Mechanical & Electronic Co.Ltd(002284) , Zhejiang Zhaofeng Mechanical And Electronic Co.Ltd(300695) , and it is recommended to pay attention to Huizhou Desay Sv Automotive Co.Ltd(002920) .
Guorong securities mentioned that as an extension of the main line of automobile, automobile intelligence began to improve under the background of alleviating the lack of core in the market and the marginal recovery of automobile sales. Automotive electronics is an essential component of intelligent vehicles, which will benefit from the rapid improvement of automotive intelligent penetration in the future.
The agency further suggested to focus on two major directions: first, occupy a key position in smart cars and provide chips and sensors for the "brain" and "eyes" of smart cars. It suggested to focus on leading companies with global competitiveness, such as sunny optics, Will Semiconductor Co.Ltd.Shanghai(603501) , Starpower Semiconductor Ltd(603290) , and leading companies with domestic substitution ability, such as Navinfo Co.Ltd(002405) , Zhuzhou Crrc Times Electric Co.Ltd(688187) , torch technology Huizhou Desay Sv Automotive Co.Ltd(002920) , Foryou Corporation(002906) and other fields benefit from the increase in the number of single vehicles and performance brought about by the increase in the penetration of intelligent vehicles. It is suggested to pay attention to the leading companies in the subdivided industrial chain that have global comparative advantages and have entered the mainstream car factories, such as shentianma, Boe Technology Group Co.Ltd(000725) , Wuhu Token Sciences Co.Ltd(300088) , Lens Technology Co.Ltd(300433) , Guangdong Ellington Electronics Technology Co.Ltd(603328) , Olympic Circuit Technology Co.Ltd(603920) , Goertek Inc(002241) , Lianchuang Electronic Technology Co.Ltd(002036) , Zhejiang Crystal-Optech Co.Ltd(002273) .
Sinolink Securities Co.Ltd(600109) said that in the short term, it is optimistic about the demand for display screen driven by automobile intelligence (large screen + multi screen). In the long term, it is optimistic that the screen factory will extend to the downstream vehicle display system field with the help of screen resources and seize the share of traditional Tier1 in the 100 billion market.
It is recommended to pay attention to BOE Jingdian, shentianma, Wuhu Token Sciences Co.Ltd(300088) , Lens Technology Co.Ltd(300433) .
[theme 4] prefabricated dishes
Shanxi Securities Co.Ltd(002500) mentioned that the lazy house economy promotes the rapid development of the prefabricated vegetable industry. Chinese households are increasingly dependent on industrialized food production and socialized food supply. Prefabricated dishes simplify the tedious steps of buying, washing, cutting and cooking, integrate quality, nutrition and taste, and cater to the lifestyle of young consumer groups under the fast-paced life. In 2021, the space scale of Chinese prefabricated dishes is expected to reach 340 billion yuan, with a year-on-year increase of 18%. In the next 3-5 years, China's Prefabricated food industry is expected to become the next trillion catering market.
The agency further pointed out that the explosive growth of takeout not only introduced a steady stream of passenger flow and orders into the catering industry, but also improved the convenience requirements. The decline of young people's enthusiasm for studying cooking and the rise of women's enrollment rate and employment rate have greatly reduced the time spent by households in the kitchen compared with the previous decade. Prefabricated dishes that can ensure the taste of dishes have become the first choice for family cooking. Suggestions: 1) specialized manufacturer of prefabricated vegetables: Suzhou Weizhixiang Food Co.Ltd(605089) ; 2) Involved in semi-finished food and beverage enterprises: Guangzhou Restaurant Group Company Limited(603043) , Tongqinglou Catering Co.Ltd(605108) ; 3) Enterprises with food manufacturing business: Fu Jian Anjoy Foods Co.Ltd(603345) , Zhongyin Babi Food Co.Ltd(605338) , Longda food.
Anxin Securities believes that there is room for the growth of China's Prefabricated dishes. Frozen food in China is mainly divided into quick-frozen hot pot ingredients, quick-frozen rice noodles and quick-frozen dishes. Among them, the traditional rice noodles (dumplings and dumplings) have entered the mature stage, the emerging rice noodles (such as hand grasping cakes and purple potato balls) and hot pot materials are still in the growth stage, and the dishes are in the introduction stage.
Open source Securities said that the prefabricated vegetable industry is in the stage of accelerated development and has broad development space. (1) B end: Prefabricated dishes can effectively reduce the cost of rent, raw materials and labor of catering enterprises, ensure the consistency of chain catering products, and have high operation efficiency; (2) C-end: Prefabricated dishes have high cost performance and good taste, which can effectively reduce the cooking burden of consumers and improve the quality of life. At present, the industry has obvious regional characteristics, the competition pattern is scattered, and it is still in the stage of horse racing and enclosure. In the future, with the gradual release of b-end and C-end demand, the industry has broad development space and a trillion market can be expected. []
