With the release of the mainland's economic report card in the first quarter, the export data in the first quarter hit a new high, especially the huge growth shown by the import and export cooperation of the "Belt and Road" countries, and the good support of the high growth of export data, the "Belt and Road" concept stocks rose sharply on April 17.
From the perspective of the disk, the industry's leading stocks Liugong rose by the limit, Dagang Holdings rose by 14.75%, Dinghan Technology rose by 11.04%, Saurer Intelligence, XCMG Machinery and other stocks rose by more than 8%, and 17 "Belt and Road" concept stocks rose by more than 5%.
"The Belt and Road" concept stocks rose sharply
On April 17, nearly 1,000 stocks in the two cities rose by more than 9%. At the close, the Shanghai Composite Index rose 2.14%, the Shenzhen Component Index rose 2.48%, and the ChiNext Index rose 2.11%. With the good support of high growth in export data, on April 17, the "Belt and Road" concept stocks rose sharply, including Liugong, Dagang Holdings rose 14.75%, Dinghan Technology rose 11.04%, Saurer Intelligence, XCMG Machinery and other stocks rose more than 8%, and 17 stocks rose more than 5%. A number of Belt and Road ETFs also performed well.
According to the data of the National Bureau of Statistics, the import and export in the first quarter hit a new high, with the total import and export of goods in the first quarter reaching 101693 billion yuan, exceeding 10 trillion yuan for the first time in the same period in history, a year-on-year increase of 5%, and the growth rate hit a new high in six quarters. In particular, imports and exports to the Belt and Road countries increased by 5.5 percent, accounting for 47.4 percent of the total imports and exports.
In fact, with the acceleration of the "Belt and Road" catalyzed by policies, the demand for infrastructure such as chemicals, electric power, and rail transit in relevant countries has continued to grow, and the manufacturing industry has been going overseas to welcome the good, and individual stocks have been pushing up since the first quarter. Year-to-date, the best gainers were Haixing Power 69.79%, Liugong 66.17%, China Xidian 56.19%, PetroChina 54.82%, 14 stocks rose more than 30%, 29 stocks rose more than 15%.
The rise in stock prices is inseparable from the solid performance support behind listed companies.
According to the latest quarterly performance forecast released by Liugong, a "Belt and Road" concept stock, it is expected to achieve a net profit of 457 million yuan to 536 million yuan in the first quarter, a year-on-year increase of 45.00% to 70.00%. According to the data, in 2023, Liugong's international market revenue will be 11.46 billion yuan, a significant increase of 42% year-on-year.
Another industry leader, Zoomlion, will have overseas sales revenue of 17.905 billion yuan in 2023, a year-on-year increase of 79.2%, and the Middle East, Africa, the Americas and other regions will double their growth.
Haixing Power said that as of the end of the 2023 reporting period, the company's software products have been applied to more than 130 projects in overseas markets. At the same time, the company continued to promote the supply chain globalization strategy and launched the layout planning of factories in Europe and Latin America.
Thematic funds have gained a lot, with a maximum increase of more than 20% during the year
Brokerage China reporters noticed that some funds captured the rise in the first quarter of the "Belt and Road" related concept stocks. GF Multi-Factor, a 10 billion fund managed by Tang Xiaobin and Yang Dong, will buy the top 10 circulating shareholders of Haixing Power in 2023, and ICBC Innovation Power, E Fund Innovation Drive, and CSI 500 ETF will buy the top 10 circulating shareholders of China XD respectively. Liugong's 2023 annual report shows that two funds of Harvest Fund have bought the top ten heavy stocks, with a total market value of 230 million yuan. Since the beginning of this year, Harvest Value has found a three-month fixed opening up of 8.97%, with an annualized yield of 34.69%.
Wind data shows that many fund companies such as E Fund, Wells Fargo, and Bosera have already deployed "Belt and Road" fund products, and with the addition of feeder funds, there are a total of 25 "Belt and Road" theme funds in the whole market (A/C shares are calculated separately). Among them, the largest is E Fund's New Silk Road with 3.334 billion yuan, up 12.47% since the low point in the first quarter of this year, with the latest net value of 1.6680, and Bosera Silk Road Theme A with a scale of 1.038 billion yuan, up 18.17% since the low point in the first quarter, with the latest net value of 1.8730.
Since the low point in the first quarter of this year, E Fund Belt and Road State-owned Enterprise ETF has risen by more than 20%, the Wells Fargo CSI State-owned Enterprise Belt and Road ETF has risen by 19.13% since the low point in the first quarter, and the China Universal CSI State-owned Enterprises Belt and Road ETF has also risen by 19.03%.
Brokerage China reporters noticed that the targets tracked by the three ETFs are basically the same, and the top ten heavy stocks are Trina Solar, Baoxin Software, Desay SV, Zhongji Innolight, CNOOC, Wanhua Chemical, Zhongke Soft, Yangnong Chemical, Ziguang Guowei and CITIC Special Steel. It mainly reflects the participation of state-owned enterprises in the construction of the "Belt and Road", and the top three weighted industries are computers, building decoration and power equipment.
Fund house: The "Belt and Road" state-owned enterprise sector is expected to usher in value reshaping
In the context of the new stage of the "Belt and Road", urban construction, transportation, power and energy, petrochemical and other industries will usher in new development opportunities.
According to the analysis of the research report of Guojin Securities, the export of automobiles and ships has increased significantly, which is the key "fulcrum" of the mainland's exports to the countries that jointly build the "Belt and Road". In March, the two-year compound growth rate of automobile exports was 69.5%, of which automobile exports to Russia, Turkey and other countries maintained a high growth rate of more than 70% year-on-year. China's ship exports also maintained a strong performance, with a two-year compound growth rate of 56.3% in March, second only to automobiles in its contribution to total exports.
A fund manager in East China believes that state-owned enterprises have always been an important pillar of the national economy, occupying certain advantages in infrastructure, energy, information security, public utilities and other fields.
Everbright Prudential Fund said that for investors, the investment opportunities in some export sectors and state-owned enterprises in the "Belt and Road" theme are worth paying attention to, subject to their own risk tolerance. The export of equipment related to the Belt and Road Initiative, especially the export of equipment related to infrastructure and the export of machinery products, also showed good investment value. Secondly, the mainland is dominated by large central enterprises, and these enterprises have assumed the role of a platform and a beneficiary role. Investors with a risk tolerance can choose a Belt and Road themed fund based on the aforementioned concerns.
Jin Shan, Equity Research Department of CITIC Prudential Fund, also said, "In addition to the infrastructure construction, energy resources, and mid-to-high-end manufacturing mentioned earlier, we can also pay attention to the cultivation and development of Chinese enterprises in the field of ontology consumption and services in addition to commodity trade." At present, there are many "Belt and Road" theme funds in the market. Investors can pay appropriate attention to the profitability sustainability and stability of the targets invested by the relevant funds, and rationally select and invest in combination with the evaluation of valuation level and liquidity. ”
Editor-in-charge: Shen He
Proofreading: Liao Shengchao