Today (May 20), A-Shares fluctuated upward, the Shanghai index stood at 3100 points, and the disk showed a general upward pattern. On the disk, coal, non-ferrous metals, wine making, logistics, tourism hotels, beauty care, food and beverage, airports, photovoltaic, petroleum, medical devices, automobiles and other industries led the increase; Individual industries such as real estate and education made a slight correction. In terms of theme stocks, outdoor camping, blade batteries, condiments, scarce resources, e-cigarettes, Baijiu, online tourism, beer concept, express concept, etc. led the increase, while leasing and selling the same rights, assembly buildings, new urbanization, Stephania and other small corrections.
banking sector strengthened! Organization: 5 year LPR “interest rate cut” favorable credit environment improvement
On May 20, the banking sector continued to strengthen, with Bank Of Ningbo Co.Ltd(002142) , Bank of Lanzhou, Ping An Bank Co.Ltd(000001) , Industrial Bank Co.Ltd(601166) , etc. On the news side, the quoted market interest rate (LPR) of loans with a term of more than 5 years has been lowered after it remained unchanged for three consecutive months. The national interbank lending center authorized by the people’s Bank of China announced today that on May 20, 2022, the quoted interest rate (LPR) of the loan market: the quoted interest rate (LPR) of one-year loan market was 3.7%, the same as that of the previous month, and the LPR of more than five years was 4.45%, down 15 basis points from 4.6% of the previous month.
Guosheng Securities pointed out that the five-year period was reduced to 4.45%, the “interest rate cut” made efforts to “steady growth”, which was conducive to the improvement of the credit environment and supported the bank valuation. At the beginning of the year, the real estate market continued to be cold, and the social finance and credit data weakened. In this case, the “interest rate cut” to reduce the purchase cost of residents is expected to boost confidence. If the housing market can pick up in the future, it will benefit the relevant credit demand and asset quality of banks and support the valuation.
The agency said that interest rate cuts and real estate relaxation are also important driving points of the current “steady growth” combination, and it is expected to continue to promote the landing in the future. The impact of the follow-up epidemic has gradually subsided + the steady growth policy has been implemented and reflected the effect, which is conducive to the expectation of future economic stabilization and the fundamentals of banks. Extremely undervalued value + low position level (only 4.02% in the first quarter, at the position of 1 / 3 in recent 10 years) + the performance of high-quality banks has increased steadily, and the banking sector has great room for repair.
e-cigarette concept explosion Huabao Flavours & Fragrances Co.Ltd(300741) and other big rises release the layout plan of e-cigarette retail outlets in many places
The concept of electronic cigarette rose strongly in the session on the 20th, with the daily limit of Zhuhai Rundu Pharmaceutical Co.Ltd(002923) , Gettopacoustic Co.Ltd(002655) , Xingmin Intelligent Transportation Systems (Group) Co.Ltd(002355) , Huabao Flavours & Fragrances Co.Ltd(300741) , Electric Connector Technology Co.Ltd(300679) , Shenzhen Longtech Smart Control Co.Ltd(300916) . On the news side, recently, many places across the country have successively released the layout planning of e-cigarette retail outlets. Up to now, more than 20 provinces, municipalities, autonomous regions and municipalities directly under the central government have announced the number of e-cigarette retail licenses in their respective regions.
On May 19, Shenzhen Tobacco Monopoly Bureau issued the layout plan of e-cigarette retail outlets in Shenzhen. According to the formula, the layout guidance number of e-cigarette retail outlets in Shenzhen is 1172, which will take effect from May 20.
According to the plan, the District Tobacco Monopoly bureaus shall set the maximum number of e-cigarette retail outlets, and approve and issue the tobacco monopoly retail license according to the order of acceptance according to law. If the upper limit of the guidance number is reached, no additional retail outlets will be added, and it will be handled in accordance with the principle of “one back and one in” according to the sequence of applicants queuing.
Caitong Securities Co.Ltd(601108) pointed out that China’s e-cigarette regulatory rules have been gradually implemented, industry policies are clear, and China’s e-cigarette industry has officially entered a new era of standardized development with rules to follow. In the short term, the policy window period is conducive to the smooth transition of all links of the industry, and pay attention to the progress of license application and approval of all links of the industrial chain; In the long run, the clearing of unqualified products and production capacity will promote the concentration of market share, benefit the leading enterprises in production, brand and other links, and the leading enterprises have broad space for development at sea.
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On May 20, the logistics sector was shaken and strengthened, with China Master Logistics Co.Ltd(603967) , Xinjiang Tianshun Supply Chain Co.Ltd(002800) , Beijing Changjiu Logistics Corp(603569) and Jiangsu Xinning Modern Logistics Co.Ltd(300013) , Eternal Asia Supply Chain Management Ltd(002183) , Shanghai Ace Investment&Development Co.Ltd(603329) , San Yang Ma (Chongqing) Logistics Co.Ltd(001317) , etc. rising one after another.
At present, there are signs of recovery in the express industry. On May 18, the leading group of the State Council on logistics maintenance held a general command (plenary) dispatching meeting, which pointed out that at present, the policies and measures of logistics maintenance have been continuously improved, the management and control problems of layers of overweight have been effectively rectified, and the main indicators of logistics operation are stable and good. The meeting also pointed out that while doing a good job in epidemic prevention and control, we should further unblock the logistics artery and microcirculation.
Anxin Securities believes that the logistics supply guarantee policy continues to work, the express delivery volume rebounds, and the industry continues to recover. For the access system, the single ticket profit of each company remains at a high level, and it is optimistic about the improvement of leading performance.
China Merchants Securities Co.Ltd(600999) pointed out that the suppressed online consumer demand is expected to rebound with the mitigation of the epidemic and the introduction of consumption promotion policies. In the medium and long term, the demand for e-commerce express delivery in the sinking market still has great room for improvement.
[opportunity mining] 1-4 Baijiu production in the month of
According to the data of the Ministry of industry and information technology, from January to April 2022, the Baijiu output of national brewing enterprises above Designated Size reached 2.609 million kiloliters, a year-on-year increase of 4.2%; Beer output was 10.747 million kiloliters, down 6.2% year-on-year; The output of wine was 65000 kiloliters, a year-on-year decrease of 32.3%.
It is worth noting that from January to April, the production of Baijiu of national brewing enterprises above designated size increased by 4.2% year-on-year. Wanlian Securities believes that the revenue of Baijiu will increase in 2021, the leading high-end Baijiu makers with strong brand influence and channel control under the epidemic show strong business resilience, and the performance in the first quarter of 22 years is brilliant.
In the long run, the consumption of Baijiu is sticky, the consumption demand is stable, the high-end Baijiu has a stable share in the market, and the growth space of secondary high-end Baijiu is large. Continue to recommend the good high-end and secondary high-end Baijiu sectors.
Soochow Securities Co.Ltd(601555) pointed out that under the environment of economy + epidemic impact this year, we should adhere to “giving priority to the certainty of high-end Baijiu + actively embracing the flexible secondary high-end”. 22q1 Spring Festival sales laid a good foundation for the whole year, Q2 sales were affected and gradually digested inventory, and Q3 consumption scenario is still expected to recover; From the perspective of sector thinking, Q2 still gives priority to high-end Baijiu and continues to pay attention to the positive changes of high-end liquor, such as the continued implementation of Kweichow Moutai Co.Ltd(600519) marketing reform, Wuliangye Yibin Co.Ltd(000858) internal and external operation optimization, price improvement, and Laojiao battle. In the second half of the year, secondary high-end stocks will be selected from the perspective of scene recovery, brand strength, channel profits, and dynamic sales performance. Throughout the year, Kweichow Moutai Co.Ltd(600519) , Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) , Luzhou Laojiao Co.Ltd(000568) , Wuliangye Yibin Co.Ltd(000858) , Shede Spirits Co.Ltd(600702) .
[opportunity mining] “the 14th five year plan” 11 major transportation engineering project package announcement focus on relevant industrial chains
Recently, the Ministry of transport issued the work plan on Solidly Promoting the implementation of major transportation projects in the 14th five year plan, and put forward 11 major transportation project packages to be promoted during the 14th Five Year Plan period. Major project packages include the National Expressway major channel connection project, the construction project of coastal roads along the border, the highway channel project from Xinjiang to Tibet, “four good rural roads” to help rural revitalization project, canal connection project, golden waterway expansion project, coastal port upgrading project, modern comprehensive transportation “Trinity” hub project, “Beidou navigation” project, new infrastructure enabling project of transportation Green low-carbon transportation sustainable development project, etc.
Previously, the State Council issued the development plan of modern comprehensive transportation system in the 14th five year plan. Ping An Securities pointed out that transportation is a basic, leading and strategic industry in the national economy. It is an important service industry and an important part of the modern economic system. It is an important support for building a new development pattern and a solid guarantee for serving the people’s better life and promoting common prosperity. The release of the 14th five year plan points out the direction for the future development of China’s transportation industry. The development trend of continuous expansion of industry scale and continuous improvement of transportation efficiency will continue. There is great room for development in the fields of transportation infrastructure construction, equipment manufacturing, transportation services and scientific and technological research and development in the future.
