Report released this week
Huitongda network in-depth report: high supply chain service barriers, Rural Revitalization and leading consumption in the blue ocean
Comments on social zero data in April: the epidemic has brought all-round impact, pay attention to the delay of residents' Consumption & rebound after the epidemic
Industry view of this week (this week refers to May 16 to May 22, 2022, the same below)
This week, the import and export data of India in April 2022 were released. The export volume of cultivated diamond bare diamonds in April was 148 million US dollars, a year-on-year increase of + 65%. The export volume of cultivated diamond bare diamonds from January to April 2022 was 530 million yuan, a year-on-year increase of + 74.1%. The export data in April showed that the downstream demand had been strong and the high boom of the industry continued.
In April, the import volume of cultivated diamond blanks was US $100 million, with a year-on-year growth rate of + 25.1%, which was significantly slower than that in March. We believe that it is mainly due to 1) disturbance of inventory replenishment rhythm: there was a large-scale inventory replenishment by cutters in the middle reaches of India in March, and the inventory is still digesting, and the inventory replenishment rhythm has a certain disturbance to the figures of a single month. The import in March was 200 million US dollars, and the total import from March to April was about 300 million US dollars, with a year-on-year growth rate of 91%. 2) China's epidemic affects exports and shipping: April is the peak of the epidemic in Shanghai. The goods exported or received by some Chinese manufacturers from Shanghai have a certain impact on the epidemic, and also on the import rhythm of India to a certain extent. The import volume of rough diamonds from January to April in 2022 was 610 million yuan, a year-on-year increase of + 85.5%.
In terms of penetration rate, the total imports of cultivated diamonds accounted for 7.1% of the total diamond imports in April, and the total exports accounted for 6.4% of the total diamond exports. The export penetration rate is improving month on month.
Investment suggestion: cultivating diamonds is still in the stage of increasing penetration rate, and the industry as a whole shows a high trend. The production of upstream manufacturers is in short supply, and fully enjoy the growth dividend of the industry. It is recommended to recommend high-temperature and high-pressure head manufacturers North Industries Group Red Arrow Co.Ltd(000519) , Henan Liliang Diamond Co.Ltd(301071) , and it is recommended to pay attention to Henan Huanghe Whirlwind Co.Ltd(600172) , Sinomach Precision Industry Co.Ltd(002046) , Sf Diamond Co.Ltd(300179) , Beijing Worldia Diamond Tools Co.Ltd(688028) , etc.
Risk warning: repeated epidemic situation; The prosperity of terminal consumption decreased; Intensified market competition, etc.
