Financial Associated Press (Shanghai, editor Zilong) news, today (January 19), the infrastructure sector continued to strengthen, as of the close, the building materials sector index rose more than 2%, Han Jianheshan, UBM Technology, Jianfeng Group rose and stopped, Shangfeng Cement rose nearly 9%, Kibing Group, Yonggao shares, Sanhe pipe pile rose more than 7%; the building decoration sector index also rose more than 1%, Zhongyan Dadi, Hongrun Construction, Huitong Group rose and stopped, survey shares, Anhui Construction, surveying and mapping shares, Zhongheng design rose more than 7%. In addition, underground pipe networks, water conservancy, steel, cement and other plates have also collectively increased.
Infrastructure investment is making efforts, and policies are beneficial to the infrastructure industry
On the news side, Yuan Da, director of the National Development and Reform Commission's Department of The Comprehensive Department of National Economy, said at a press conference on the 18th that a series of policy measures should be introduced to implement the strategy of expanding domestic demand. Timely study and propose targeted measures to revitalize the operation of the industry. Appropriately carry out infrastructure investment ahead of schedule, accelerate the promotion of 102 major projects in the "14th Five-Year Plan", in accordance with the requirements of "funds follow the project", as soon as possible to implement the local government special bonds issued in the fourth quarter of last year into specific projects, pay close attention to the issuance of the issued quota, and strive to form more physical workload in the first quarter.
Guosheng Securities pointed out that the National Development and Reform Commission is in charge of project approval and communication and coordination between multiple departments, and it is expected that the relevant links of follow-up projects are expected to accelerate and implement as soon as possible to form a physical quantity. Last week's National Standing Meeting pointed out that it is necessary to accelerate the implementation of the "14th Five-Year Plan" key planning projects, requiring "accelerated implementation", "good guarantees", "simplified procedures", "grasping implementation" and other expressions, all of which indicate the government's urgent willingness to promote the acceleration of investment. Since the end of last year, a series of important meetings have continued to demonstrate the current determination to stabilize growth, the necessity of stable growth, and the policy attitude are relatively clear, and it is expected that the follow-up policies will continue to exert efforts to achieve results, and promote the continuous improvement of infrastructure investment expectations this year.
The policy signal is clear, which has greatly boosted the investment confidence of the infrastructure industry, and the market has also formed a consensus, the current divergence is mainly in the investment intensity and actual landing, but some institutions pointed out that do not doubt the infrastructure strength in the first quarter. Minsheng Securities believes that after the steady growth signal, infrastructure will show two obvious characteristics. One feature is that the investment intensity is in the front, that is to say, in the first half of the year, especially in the first quarter, the infrastructure construction is significantly higher than that in the second half of the year; another feature is that the investment in infrastructure construction may be focused in three areas: clean energy power generation in the context of "double carbon", urban transportation network investment in the context of "transportation power construction" given in the "14th Five-Year Plan", and water conservancy municipal construction under the guidance of urban renewal.
Infrastructure stocks have risen day after day, and the industrial chain boom has spread
Under the continuous favorable policy, infrastructure stocks generally ushered in an upward trend, driven by the prosperity, cement and building materials stocks also linked upwards. According to the statistics of the rise and fall of this year, the engineering construction sector, in addition to the new stock Huitong Group, Hongrun Construction has risen by nearly 35% this year, Shandong Road and Bridge has risen by 28%, Anhui Construction Engineering, Ningbo Construction Engineering and other nearly ten shares have risen by more than 10%; cement building materials sector, Hanjian Heshan rose nearly 53%, Sanhe pipe pile rose nearly 21%; decoration building materials plate, Gudi Technology rose nearly 43%, Nachuan shares rose nearly 31%, Donghong shares, Jiangshan Oupai rose more than 20%.
Under the background of steady growth, institutions generally expect that the prosperity of the infrastructure industry this year is expected to rebound year-on-year, infrastructure investment will also be improved, the demand for the construction sector is expected to be driven, key areas such as water conservancy, transportation, and municipal administration in infrastructure will continue to exert force, and pipeline reconstruction and urban rail transit are expected to become structural highlights. Under the transmission of prosperity, cement, building materials and other related industrial chain sectors are also expected to benefit, superimposed on the characteristics of low valuation and counter-cyclicality, and each sector is expected to open an upward cycle of prosperity and valuation.
Guosheng Securities pointed out that after reviewing the historical market, in the initial stage of policy adjustment and improvement of the monetary and credit environment, the excess income of the construction sector is more obvious. At a time when the policy of stable growth of infrastructure construction is intensifying and the financial environment of the industry tends to improve, high-quality construction leaders are expected to meet the momentum of valuation improvement. Highlight the blue chips of low-valued construction: China Communications Construction, China Railway, China Railway Construction, China Chemical, etc., infrastructure design leader Huashi Group, Design Institute, Sujiaoke.
In addition, Guosheng Securities focuses on recommending the direction of stable growth and high prosperity flexibility, affordable housing: focusing on recommending China State Construction, Shanghai Construction Engineering, Huayang International; steel structure: focusing on recommending Seiko steel structure and Honglu steel structure; 3) new power system: focusing on recommending and paying attention to the power infrastructure of the central enterprises leading China Power Construction, China Energy Construction, private distribution network EPCO leader Suwen Electric Energy, enterprise energy efficiency control expert Ankerui.