2024-01-18 01:40:00
Yesterday, the three major stock indexes plunged sharply, hitting new lows. As of the close, the Shanghai Stock Exchange Index fell 2.09% to 2833.62 points, the Shenzhen Component Index fell 2.58% to 8759.76 points, and the ChiNext Index fell 3% to 1699.62 points. The total turnover of the two cities was 637.6 billion yuan, a decrease of about 47 billion yuan from the previous day; northbound There was a significant unilateral outflow of funds, with net sales of 13.057 billion yuan throughout the day. In terms of industries, the military industry and semiconductor sectors fell sharply, the tourism, brewing, medicine, automobile, steel, agriculture, finance and other sectors fell. The textile and clothing sector bucked the market and was active.
Huaan Securities pointed out that the beginning of the year means that the market is about to enter a window period for economic data and policies. Under the current low expectations, it is expected to continue to maintain weak and volatile operations. The market has insufficient upward momentum and confidence needs to be further boosted. In this case, the configuration idea is “it is better to be quiet than to move”. First, considering the general environment of weak market upward momentum, stable assets are still the consensus for allocation; second, in terms of liquidity, the macro environment is expected to be loose with RRR cuts, which also meets the conditions for high dividends, and financial styles are expected to continue to switch. The third is that cars and parts have touched the bottom edge of the range, and the auto sales boom is good, which is a good opportunity for deployment; fourth, the greater certainty in the macro environment is that liquidity will still be loose, and once loose On the ground, electronic communications and other directions with mid- to long-term business cycle certainty and recent large declines may usher in opportunities for rebound.
Analysis of today’s investment opportunities
Power grid bidding batches increase, smart meters are booming
According to the official account of Dianfutong, the State Grid’s electric energy meter bidding plan has been increased to three batches in 2024, namely the 33rd, 64th and 81st batches of bidding and procurement in 2024, one more bidding batch than in previous years. It is reported that in the past five years, except for an additional supplementary batch of tenders in 2022, there have been two batches of State Grid electric energy meter tenders every year.
CITIC Securities stated that this year’s bidding plan has added a formal batch. Based on historical experience, it is expected that the increase in the electric meter bidding batch by State Grid will mean a significant increase in the amount of electric meter bidding. Electric meters installed on a large scale around 2014 and 2015 have gradually entered an eight-year update and replacement cycle. The construction of new power systems has significantly increased the demand for power metering. Furthermore, in conjunction with the State Grid’s 2024 annual work conference, it is proposed to build intelligent and strong power grids. It is expected that domestic Electric meter investment will usher in a dual boom of increased total volume and an increase in the proportion of high-grade investments. On the other hand, the demand for overseas power equipment is clear, and electricity meters are currently one of the most certain links and are expected to continue to bring incremental growth. It is recommended to pay attention to companies that are deeply involved in the field of electric energy meters, have good profitability, a high proportion of high-grade electric meters, and have smooth overseas development.
Supply disturbances combined with nuclear power output have ushered in an upward cycle in uranium prices
In recent years, the world’s major nuclear power powers, such as China, the United States, Russia and France, have successively issued nuclear power support policies, promoting the rapid growth of global nuclear power installed capacity. Global nuclear power installed capacity will be 371GW in 2022, returning to the level before the Fukushima accident in 2010. As China’s third-generation nuclear technology matures, China has accelerated the approval and construction of nuclear power plants, and will approve 10 nuclear power units in 2023.
CITIC Securities said that various countries have introduced favorable policies to promote the development of nuclear power, and the approval and construction of nuclear power plants have entered the fast lane. It is expected that the global installed nuclear power capacity will reach 480GW in 2030, and the corresponding uranium demand will reach 85,000 tons. Kazakhstan, the world’s largest uranium miner, may adjust its production plans for 2024 and 2025 to push uranium prices above $100 per pound. Expenditure on uranium resource exploration is sluggish, geopolitical risks are constantly disrupted, and uranium ore supply is subject to multiple uncertainties. The uranium supply shortage ratio is expected to increase from 6% to 17% from 2023 to 2030, pushing uranium prices to maintain their upward trend. Against the background of rising uranium prices, it is recommended to allocate companies with greater performance flexibility.
Elderly medical industry chain welcomes development opportunities
On January 15, the General Office of the State Council issued the “Opinions on Developing the Silver Economy to Improve the Well-Being of the Elderly,” which proposed the creation of a new smart health care industry and vigorous development of the rehabilitation assistive device industry.
In this regard, China Post Securities pointed out that the “Opinions” clearly proposed to strengthen the construction of geriatric medicine departments in general hospitals and accelerate the construction of rehabilitation hospitals and other institutions, which will help improve the service quality of geriatric medicine departments in my country and increase the supply of rehabilitation medical services. At the same time, in response to the multi-level medical needs of the elderly, the demand for high-end cataract lenses in ophthalmology is expected to increase rapidly. As the health awareness of the elderly increases and awareness of physical examination items accelerates, the demand for C-end physical examinations is expected to accelerate, including ophthalmology, physical examinations, and rehabilitation. Other private medical institutions will also usher in development opportunities.
At the same time, the “Opinions” propose to vigorously develop the rehabilitation assistive device industry and expand the supply of various rehabilitation equipment products, which is expected to increase the utilization rate of rehabilitation assistive devices and boost product demand. In addition, leading rehabilitation equipment companies have the ability to provide clinical treatment solutions and services while providing product supplies, giving them more competitive advantages. The “Opinions” also propose the development of early screening products and services for geriatric diseases, which is expected to promote the development of the diagnostic equipment and reagent market represented by Alzheimer’s disease. At present, the first AD treatment drug Lencanezumab has been approved in China, further releasing the demand for AD diagnosis.
Other market-moving news
Ministry of Water Resources: Vigorously promote digital twin water conservancy construction
On January 16, the Ministry of Water Resources held a symposium on water conservancy planning and planning in Shijiazhuang to summarize the water conservancy planning and planning work in 2023 and deploy key tasks in 2024. Chen Min, Vice Minister of the Ministry of Water Resources, said that in 2024, we must make every effort to do a good job in water conservancy planning and planning in accordance with the deployment of the National Water Conservancy Work Conference. Efforts should be made to speed up the revision of flood control plans for the seven major river basins and to speed up the improvement of the national water network planning system. It is necessary to further promote the high-quality development of the follow-up projects of the South-to-North Water Diversion Project, promote the construction of a number of water resources development and utilization and flood control backbone projects, accelerate post-disaster recovery and reconstruction in the northern region, implement the additional issuance of national debt water conservancy projects, and vigorously promote the construction of digital twin water conservancy projects. It is necessary to deepen the reform of water conservancy investment and financing, actively use local government special bonds and financial credits, and make good use of the new mechanism of cooperation between the government and social capital.
Intelligent connected cars welcome major benefits
In order to accelerate the technological breakthrough and industrialization development of intelligent connected vehicles, five departments including the Ministry of Industry and Information Technology, the Ministry of Public Security, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, and the Ministry of Transport jointly launched the “vehicle-road-cloud integration” of intelligent connected vehicles. Application pilot work, the pilot period is from 2024 to 2026. The pilot content includes: building intelligent roadside infrastructure. Achieve full coverage of 5G communication networks in the pilot area and deploy C-V2X infrastructure including LTE-V2X direct communication road side units (RSU). Carry out network-connected renovations such as traffic signals and traffic signs to achieve a network-connected rate of over 90%. Simultaneously deploy roadside sensing equipment and edge computing systems (MEC) at key intersections and road sections to achieve interconnection and interoperability with city-level platforms, and explore the establishment of development models such as multi-pole integration and multi-sensor integration.
Zhejiang increases support for artificial intelligence industry
Recently, the General Office of the Zhejiang Provincial Government issued the “Guiding Opinions of the General Office of the Zhejiang Provincial People’s Government on Accelerating the Development of the Artificial Intelligence Industry” to increase support for the development of the artificial intelligence industry. The “Guiding Opinions” propose that by 2027, Zhejiang will become a new highland for the development of the world’s important artificial intelligence industry. The province has cultivated 10 100-billion-level integrated industrial clusters, 15 provincial-level innovative application pilot zones, and 100 characteristic industrial parks. The number of artificial intelligence companies exceeds 3,000, and the total operating income exceeds 1 trillion yuan.
CATL’s Shenxing battery is first installed in Nezha L car
On January 17, Nezha Automobile announced that CATL’s Shenxing battery long-life L series will be installed on Nezha L automobiles for the first time, achieving a “double L combination”.
In August 2023, CATL officially launched the “Shenxing Superchargeable Battery”, which is the world’s first 4C superchargeable battery that uses lithium iron phosphate material and can be mass-produced. It can recharge for 400 kilometers in 10 minutes. Shenxing super-chargeable batteries are divided into “low temperature version” and “long life version”. Among them, Shenxing’s “long-life version” will support an ultra-long battery warranty of 8 years or 800,000 kilometers. The Nezha L car has previously appeared on the Ministry of Industry and Information Technology’s application list. It has two versions: pure electric and plug-in extended-range hybrid, with a variety of color options.
JJVicron’s HJT module power achieved another breakthrough
According to Jiejia VEICHI, since the highest power module reached 738.98W in December last year, after less than a month of continuous optimization, the power of Jiejia VEICHI HJT single-glass modules reached 745.33W in January 2024, and the power of double-glass single-glass modules reached 741.66 W, the maximum power of pure double-glass mass-produced modules is 735.79W. The battery terminals of the above HJT modules all use 12BB printing technology, once again refreshing the company’s HJT module power record.
Proofreader: Yao Yuan
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