This week, Sichuan composite index fell 4.16% and Chongqing composite index fell 4.61%.
As of January 14, 2022, the PE of Sichuan sector is 50.88 times, and the overall valuation level has decreased; The PE of Chongqing sector is 22.72 times, and the overall valuation level has decreased. By industry, the top three sectors in Sichuan and Chongqing this week were agriculture, forestry, animal husbandry and fishery (+ 11.05%), steel (+ 8.82%) and real estate (+ 6.27%). From the perspective of listed companies, the top three increases are Sichuan Jinshi Technology Co.Ltd(002951) (+ 36.79%), Sichuan Hebang Biotechnology Co.Ltd(603077) (+ 20.00%) and Chongqing Mas Sci.& Tech.Co.Ltd(300275) (+ 18.10%); The top three declines were Chongqing Sokon Industry Group Stock Co.Ltd(601127) (- 14.21%), Dongfang Electric Corporation Limited(600875) (- 11.59%) and San Yang Ma (Chongqing) Logistics Co.Ltd(001317) (- 10.91%). The 42 listed companies we focused on in Sichuan and Chongqing fell by an average of 2.31%, and the top three were: Sichuan Tianyi Comheart Telecom Co.Ltd(300504) (+ 15.82%), Maccura Biotechnology Co.Ltd(300463) (+ 10.29%) and Hitgen Inc(688222) (+ 5.01%); The top three declines were: Dongfang Electric Corporation Limited(600875) (- 11.59%), Xinhua Winshare Publishing And Media Co.Ltd(601811) (- 10.42%) and Qianhe Condiment And Food Co.Ltd(603027) (- 8.22%).
Prices in Sichuan are stable and falling, and there is a strong certainty of consumption during the Spring Festival.
According to the data of the National Bureau of statistics, in December 2021, the consumer price (CPI) of Sichuan residents increased by 1.0% year-on-year, 1.0 percentage points lower than that of the previous month. Among them, the urban rose by 1.2% and the rural rose by 0.8%; Food prices fell by 3.9% and non food prices rose by 2.3%; Consumer goods prices rose 0.6% and service prices rose 1.7%. Specifically, it is mainly due to the decline in the prices of fresh vegetables and pork. With the recovery of vegetable supply and the end of pork curing in winter, the prices of fresh vegetables and pork decreased by 10.3% and 2.0% month on month in December. In addition, the prices of clothing, daily necessities and services, education, culture and entertainment, and medical care increased slightly month on month. The rise in terminal prices will help relevant enterprises alleviate the pressure of rising costs and expand profit space. The overall fall of CPI is conducive to the terminal consumer repair. In the Spring Festival peak season, Sichuan is less affected by the epidemic. The consumption of Baijiu, dairy products, condiments and other consumer companies is expected to be stronger in the first quarter.
Sichuan Province released the list of key projects in 2022, and the construction of Shuangcheng economic circle continued to advance.
Sichuan provincial government issued the list of key projects in Sichuan Province in 2022, which lists 700 projects in total. Among them, there are 454 projects to be continued and 246 projects to be started in 2022. Specifically, 700 key projects include infrastructure, industry, livelihood projects, environmental protection and ecological construction. In terms of infrastructure, many expressways and railways connecting cities in the Chengdu Chongqing twin city economic circle will start construction. Among the 327 industrial projects, new energy industry chain related projects account for a large proportion. Major construction projects in Sichuan and Chongqing are progressing smoothly. With the continuous promotion of the construction of Chengdu Chongqing dual city economic circle, it is expected that a large number of construction projects will start one after another this year, continuously releasing a large number of infrastructure needs and helping relevant enterprises maintain rapid growth in performance. In addition, with the successive construction of several planned industrial parks, it will lay a good foundation for the development of high-tech, new energy and other industries, and promote the rapid growth of related industries in Sichuan and Chongqing.
Risk warning: macroeconomic growth is lower than expected, covid-19 epidemic continues to be at risk, and consumption recovery is lower than expected
