In the near future, we will usher in a policy-launched intensive period. It is expected that in the coming period, we will introduce detailed rules for photovoltaic distributed subsidies, wind power integration, and energy storage support policies. We believe that although most of the policies are within the expected range, on the one hand, the policy strength may be close to the market expectations. On the other hand, the energy storage and other sectors may introduce policies that exceed market expectations. Combined with some manufacturers' mid-month reporting improvement expectations, we believe that the new energy sector may still be relatively strong.
We believe that: 1) Following the landing of photovoltaic and wind power support regulations, energy storage policy has become a key point for the development of new energy. 2) According to the "clearing" plan of the Energy Administration, the investment in energy storage will reach 5-8 billion yuan in the next two years. If a specific energy price subsidy policy is to be issued in the future, it will greatly promote the development of the industry. 3) Concerned about energy storage gradually entering the implementation phase, involving large-capacity energy storage companies, such as Ke Lu Electronics (Lithium), Sun Yang shares (lead acid), Nandu Power (lead carbon), Xinlong Electric (zinc and bromide).
Industrial Securities
Cement fundamentals and expectations are expected to work together
The basic orientation will continue. The continuous rise in cement prices in the off-season is one of the reasons why the supply side is limited. The support of fundamentals cannot be ignored. This can be confirmed by the recent macro data released in July. We believe that with the advent of the seasonal season, cement prices will gain new upward momentum, and the basic orientation will continue, and it will continue to exceed expectations. The industry is expected to be repaired upwards.
The recent increase in cement stocks does not match the improvement in cement fundamentals. The former lags behind the latter; the reason is that the capital market is still lingering on traditional cycle products and is skeptical. We believe that such pessimistic expectations are expected to be repaired upwards with the release of more than expected macro data and continued improvement of fundamentals. It is expected that the fundamentals and expectations will work together to maintain the recommendation for the cement industry. The recommended varieties are Conch Cement, Huaxin Cement, Jiangxi Cement, and Chaodong, focusing on the Tower Group.
Hongyuan Securities
Big Data Cross-border Reshaping Industry Pattern
With the advent of the third industrial revolution represented by information technology, the Internet, mobile Internet and big data are expected to become the key driving force for the rapid development of the Chinese economy. Information consumption is expected to become a new engine driven by domestic demand. Big data subverts traditional industries, improves operational efficiency and structural efficiency, and promotes the transformation of traditional industries to economic restructuring.
In the era of big data, the three broadest and most influential industrial chain investments include: 1. Alibaba Industry Chain, strategically focused data flow with third-rate as the core, and conducts operations from payments, small loans, sales, supply chain finance, and consumer finance Realize. 2. Tencent industry chain, through WeChat 5.0 to achieve O2O closed-loop online and offline integration, with QQ as the core product system to cover all the needs of users. 3. Prism doors accelerate the trend of IOE, and smart cities are building new ideas.
Investment target: refer to the analysis of the possibility of impact of big data technology in various industries, and focus on the three major industrial chains affected by Alibaba's industrial chain, Tencent's industrial chain, and Prism Gate's construction of smart cities. We have selected Alibaba's investment chain-related gold stocks, Hang Seng Electronics, and Dongfang Wealth; selected investment benchmarks based on Tencent's industrial chain, Shihai, China Haida, and trade-marked NavInfo; investing in China's smart cities based on Prism Gate events. The direction will affect the selection of the target Taiji, Neusoft Group, Tolstoy and Venus, and the trading symbol of the Chinese software. Other potential data with cross-border ownership of data are Guanglianda and Yihualu.
Bohai Securities
The gradual recovery of commercial retail
From the perspective of end-user demand, consumption is still gradually recovering, and the actual growth rate of the agency is still at a relatively low level. At the same time, it is expected that the price index will remain at a low level during the year, and there is little room for imagination to boost nominal growth. Temporarily maintain the sector neutral investment rating.
From the published semi-annual report, although revenue growth is weak, some companies have increased their efforts in cost control, which led to a slightly higher-than-expected profit growth year-on-year. However, short-term overall sluggish demand, rising real estate prices, and high labor costs have undermined traditional retail sales. On this basis, the diversion of e-commerce has aggravated market concerns about plate earnings. We expect the company's mid-year report will basically meet market expectations. It is recommended to focus on the low valuation of the company’s nominal growth rate to boost the momentum of overvaluation of the Baima stocks. The final stock investment targets are Wangfujing, Xinhua Department Store, Ginza, Eurasia Group.
It is good for abrasion resistance, bending resistance and washing resistance .
Application:It is used widely in safety vest, workwear, reflective overalls, raincoats, umbrellas, casual wear, bags, all kinds of sports and leisure shoes, work gloves.
Reflective Piping,Reflective Piping Trim,Fashionable Design Reflective Piping,High Visibility Reflective Piping
Daoming Optics & Chemical Co., Ltd , http://www.dmreflective.com