Qifu investment co., LTD. : Steady, vigorously develop new and old infrastructure!
Qifu Early Review (Tuesday, February 8, 2022) Steady development of new and old infrastructure!Market analysis market: yesterday the market got off to a good start as scheduled, mainly due to the stabilization of the economy under the new and old infrastructure and big financial power, the short-term market is still a repair stage, the index is expected to form around 3360 triple bottom – the mid-term bottom.Sector: The core of 2022 is to stabilize the economy. We will vigorously develop new and old infrastructure to stabilize economic growth. The old infrastructure focuses on building + building materials, while the new infrastructure focuses on new energy, ultra-high voltage, big data and other aspects.For 2022, the long-term focus is still on technology, consumption and green.At the same time low valuation of traditional value stocks also have medium-term valuation correction opportunities.New infrastructure is the object we have been tracking, so we will not do too much analysis here (mainly including new energy, big data, 5G construction, digital currency, ultra-high voltage, industrial Internet and other 7 aspects). Today, we will mainly sort out traditional infrastructure: background:In 2022, we will focus on ensuring steady growth. Investment in infrastructure will be the key to ensuring steady growth. Transportation, water conservancy, municipal pipelines, energy and electricity will be the focus of our efforts in infrastructure development.Short-term policy stimulus: On February 5, officials from the National Development and Reform Commission (NDRC) said that policy action should be appropriately advanced, as there are many uncertainties in the first quarter of this year, and the focus of policy action should be appropriately moved forward to ensure early arrangements, early action and early results.Meanwhile, in January, 583.7 billion yuan of new local government bonds were issued nationwide, 221.4 billion yuan more than the same period last year, indicating a marked acceleration in fiscal mobilization.Core logic: “See February Investment Strategy” — the background of 2021 is higher PPI, the core is upstream, bulk investment.In 2022, with the economic downturn and the CPI-PPI shears falling, there will be medium-term valuation correction opportunities for mid-stream manufacturing, downstream consumption and new and old infrastructure.On the demand side, the concentration degree of the faucet increases;At the cost end, the dilemma was reversed in 22 years;Valuation end, oversold varieties have been to the low historical.Cement: Conch Cement, Huanxin Cement, Shangfeng Cement building Materials: Oriental Yuhong, Beixin Building Materials, etc. Other: China Energy Construction, China Power Construction, etc. Warm tips: Under the new infrastructure, green technology is important in the long run. The old infrastructure with low valuation is a good value investment opportunity, which should complement each other and bring out the best in each other.1. In January, Caixin China’s service PMI recorded 51.4, down 1.7 percentage points from the previous month.It showed activity in the service sector expanded slightly, but at its slowest pace in nearly five months.Domestic demand is sluggish, overseas demand has fallen sharply, employment continues to be under pressure, and optimism in the service sector has declined.2. Securities Times: In January, the issuance scale of local bonds was 698.9 billion yuan, a significant increase compared with the same period last year.Of this amount, 484.4 billion yuan of special bonds were issued, one third of the quota approved in advance, and the issuance of special bonds was significantly ahead of schedule.Considering that only part of the annual quota has been completed, there is still about rmb6 trillion to be issued.Investment and Life 1. Most of the time, it is not others who limit us to do things, but we limit ourselves.Many difficulties are dreamt up by cowardly people, and when they do, they find nothing.The world is not suffering from wealth, suffering from no one.The contents of this article are for reference only, in any case, the information and opinions in this article do not constitute investment advice to anyone.Readers shall make their own judgment on whether to use the content and information contained in this article and assume their own risks based on their own investment objectives and financial status. The Company and its employees shall not be liable for any consequences arising from readers’ use of this article and its content.”The stock market is risky, investment should be cautious”!