Today (May 18), the Shanghai and Shenzhen stock markets opened high across the board. After repeated stock index shocks at the beginning of the session, there was a diving trend in the session. Fortunately, the index stabilized and fell back, and entered the pattern of shock consolidation again.
From the disk point of view, the light index focuses on individual stocks, and new hot spots emerge one after another. Outdoor camping and digital sentry concept stations are on the air outlet. The rise and fall of other industries and concept sectors are different, and the local profit-making effect still exists. In addition, automobile, textile and clothing, education, commercial department stores and other sectors also performed prominently. It is worth mentioning that, as of press time, in the textile and garment sector, Shanghai Metersbonwe Fashion&Accessories Co.Ltd(002269) , Huafang Co.Ltd(600448) , Beijing Sanfo Outdoor Products Co.Ltd(002780) , Shanghai Dragon Corporation(600630) , etc. rose by the limit.
Soochow Securities Co.Ltd(601555) said that at present, the market has once again come near the integer mark of 3100. Since there are still many uncertain factors outside China in the recent stage, and there is no obvious turning point event for the time being, a certain long and short sawing may be carried out around 3100 in the near future. From the perspective of operation, investors can choose low positions for short-term operation of hot sectors, and choose the opportunity to increase their positions after the market stabilizes effectively.
At present, under the background of scattered A-share hotspots and intensified sector rotation, possible investment opportunities are hidden. Select some institutional research reports. Let’s see what themes are available for reference.
[Topic 1] Digital sentry
Guosheng Securities pointed out that digitization is the inevitable choice under the promotion of human cost, and China’s IT industry is expected to grow steadily. 1) In 2020, the proportion of employed population in China’s primary industry decreased to 24%, which is close to the middle stage of industrialization; In the 1980s, the demand for digital development in Europe and the United States has gradually dropped to the inflection point, and the demand for digital development in Europe and the United States has gradually reached the inflection point. The essence of digitalization is a more automatic and intelligent production tool, which can enable thousands of industries. It is an inevitable choice under the increase of labor cost. 2) Against the background of digital development, the revenue growth of China National Software And Service Company Limited(600536) industry in history has also been higher than that of GDP for many years. At present, the IT industry has also entered a new stage of industrial upgrading. The emergence of new generation technologies such as product, cloud and artificial intelligence has accelerated and driven a new round of growth.
BOC International securities mentioned that according to the data of China chain operation association and the National Health Commission, at present, the top 100 supermarkets in China have more than 30000 stores, 1028000 medical institutions, and the unit price of vertical “digital sentinels” is about 800013000 yuan. According to the standard of 1-2 “digital sentinels” for each scene, the market space of medical and supermarkets alone can reach more than 10 billion yuan. The scenes with large traffic such as office buildings and parks are usually equipped with gate type “digital sentinels”, and the unit price of each is about 3 Shenzhen Textile (Holdings) Co.Ltd(000045) 000 yuan. According to the data of prospective industry research institute and global network, there are more than 22000 industrial parks and more than 1900 large-scale office buildings in China. Calculated by an average of 3 gates per scene, the corresponding market space is more than 2.1 billion yuan. If the “digital sentry” is widely spread throughout the country, the market space of its core scenario is expected to exceed 20 billion yuan.
The agency further analyzed that key manufacturers are expected to benefit, and government affairs and business supermarkets are deployed first. With the gradual promotion of the resumption of business and the resumption of market, the manufacturers related to “digital sentry” are expected to usher in good news Winner Technology Co.Inc(300609) is a leading enterprise in passenger flow analysis. When the epidemic broke out in early 2020, the company quickly launched bayonet body temperature measurement system. The “digital sentry” developed from the previous generation of temperature measurement system has been deployed in more than 100 party and mass service centers in Shanghai, and has recently been installed and launched in supermarkets such as RT mart and century Bailian, as well as commercial entities such as Baisheng shopping center on middle Huaihai Road and shangsheng new office Xiamen Meiya Pico Information Co.Ltd(300188) holding subsidiary Meiya Zhongmin released a series of electronic sentinels for epidemic prevention verification Wonders Information Co.Ltd(300168) citizen cloud “digital sentry” covers different scenes such as government offices, medical institutions, cultural and sports venues, streets and communities.
Attention: with the promotion of resumption of business and city, the “digital sentry” under the normalized management of the epidemic is expected to become the basic configuration to ensure the recovery of social and economic activities. It is recommended to pay attention to Winner Technology Co.Inc(300609) , Xiamen Meiya Pico Information Co.Ltd(300188) , Wonders Information Co.Ltd(300168) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Shenzhen Jieshun Science And Technology Industry Co.Ltd(002609) , Dnake (Xiamen) Intelligent Technology Co.Ltd(300884) .
(screenshot from BOC International Securities Research Report)
[Theme 2] outdoor camping
Shaanxi securities research report pointed out that in the third year of the epidemic, tourism around the city is still the mainstream of the travel consumption market during the May Day holiday. OTA platform shows that the camping market around the “May Day” holiday in 2022 is still heating up, and the search heat of “camping” related tourism increased by 117% month on month. Forest camping, island camping, Park Camping, star camping and parent-child camping have become the most concerned camping themes of May Day. Bookings of camping products for travel from March to April were hot, with a month on month increase of 120%, of which parent-child travel accounted for 45%.
Bohai Securities said that camping has multiple attributes such as sports, tourism, social networking and leisure, and the participation threshold is low. After the outbreak of the epidemic, peripheral tourism and self driving tourism have become the main choices of residents. The scale of China’s camping industry has exceeded 30 billion yuan and maintained rapid growth. It is optimistic about the growth of one-stop equipment supplier enterprises.
Guosheng Securities believes that the increased demand for camping under the fluctuation of the epidemic will drive the consumption of outdoor sports equipment and clothing, and then drive the upstream orders, benefiting China’s outdoor manufacturing companies. 1) In the environment of repeated epidemics, more people participate in outdoor camping, a short-distance and safe outdoor leisure activity. According to the data of the American Camping Association (kampggrounds), 48.2 million families in North America camped at least once in 2020, with a growth rate of 15% compared with 2019. Among them, the number of first-time camping families reached 10.1 million, a fivefold increase over the previous year. American Outdoor foundation data also show.
2) the increase of camping population drives the demand of equipment market. Despite repeated outbreaks, the new increment of camping market demand in developed countries has maintained good growth: according to cotswoldoutdoor data, the sales of camping equipment in the UK increased by 60% year-on-year in 2020. From the perspective of listed companies, the epidemic has driven the increase of outdoor related consumption in China. At the same time, overseas downstream demand has also driven the relevant supply chains in upstream China, and the performance of sector companies is excellent.
(screenshot from Guosheng Securities Research Report)
[Theme 3] textile and garment
China International Capital Corporation Limited(601995) pointed out that at present, the epidemic situation in many places in China is repeated, and clothing, as an optional consumer category, is greatly affected. On the contrary, the upstream textile and garment enterprises face the global market and the global layout of production bases, and the demand fluctuation is relatively small; At the same time, the competition pattern is clear and stable, and high-quality leading enterprises drive steady growth through orderly expansion of production capacity.
In the environment of repeated epidemic and RMB devaluation, it is suggested to pay attention to the textile and garment track with stronger anti risk ability.
Founder Securities Co.Ltd(601901) said that under the repeated shadow of the epidemic, China’s consumption is weak, the clothing and home textile sector is still uncertain about the impact of the epidemic in the quarter, and the offline channel control is still strict. It is recommended to pay attention to the leading sports clothing and outdoor sports brands with high prosperity in the medium and long term, Tebu international, Anta sports and Li Ning, and Biem.L.Fdlkk Garment Co.Ltd(002832) ; The textile manufacturing sector has benefited from the boost of overseas consumer market, plus the favorable depreciation of RMB, and the current uncertainty of export manufacturing is stronger. It is suggested to pay attention to industry leaders Huali Industrial Group Company Limited(300979) , Zhe Jiang Taihua New Material Co.Ltd(603055) , Zhejiang Weixing Industrial Development Co.Ltd(002003) , Shenzhou International with high-quality supply chain and good downstream demand.
Guosen Securities Co.Ltd(002736) mentioned that in May, the pressure on the base of sports brands gradually eased, Shanghai gradually resumed business and market, the devaluation of RMB, the sea freight price and the price of main raw materials were controlled, and the valuation of the sector was slightly repaired. We continue to be optimistic about the trend that the improvement of the epidemic will drive the recovery of consumer retail sales and the reduction of cost pressure will drive the improvement of the performance of manufacturing and export enterprises, and look forward to the arrival of the turning point of fundamentals and valuation under the background of historical low.
(screenshot from Guosen Securities Co.Ltd(002736) Research Report)
[theme 4] Education
Huaxi Securities Co.Ltd(002926) mentioned that recently, the Ministry of Finance issued 212.5 billion yuan of transfer payment funds related to compulsory education (excluding teachers’ salaries), guided and supported local governments to implement the requirements of the “double reduction” policy, improved the guarantee level of compulsory education funds, further promoted the improvement of weak links and ability, strengthened the construction of teachers and improved the quality of education and teaching.
According to the further analysis of the institution, we recommend two main lines at the current time point: (1) Vocational Education: Shanghai Action Education Technology Co.Ltd(605098) , Jiangsu Chuanzhiboke Education Technology Co.Ltd(003032) ; (2) Quality education recommendation Beijing Shengtong Printing Co.Ltd(002599) , pay attention to the improvement after the company’s epidemic situation, and the new curriculum standard has a far-reaching impact on the improvement of the score proportion of quality education; (3) Higher education: at present, some higher education stocks 22pe have fallen below 10 times, mainly due to: 1) higher education companies are cautious about M & A expectations, partly due to the current upside down valuation of the primary and secondary markets; 2) At present, most regions have not yet issued detailed rules for the selection of business and non business, and the market is worried about the policy risk of higher education stocks; 3) Concerns about future price increases and the ceiling of net interest rates. On the one hand, we believe that the National Undergraduate Education and private higher education sector is expected to continue to benefit from the steady promotion of the performance of the National Undergraduate Education Group. On the other hand, we believe that the National Undergraduate Education and private higher education group is expected to continue to promote its performance.
Huatai Securities Co.Ltd(601688) pointed out that stabilizing employment has been emphasized again. It is suggested to pay attention to the impact of the epidemic situation in human resources and vocational education, the economic cycle and the change of population structure, resulting in great challenges to China’s employment environment this year. In the context of stable employment, the human resources sector that can improve the efficiency of person post matching deserves attention. Among them, we expect that the “reservoir” of flexible employment is expected to maintain a high outlook in the short to medium term, but the labor demand of different industries may be differentiated under the control of the epidemic. In addition, non academic vocational skills training that can solve the problem of personnel’s skills and job suitability is also expected to benefit in the long term.
(screenshot from Huatai Securities Co.Ltd(601688) Research Report)
