Over 11 trillion investment plans come with some stocks estimated to be at the bottom of history

Over 11 trillion investment plans come with some stocks estimated to be at the bottom of history
For stocks, please read Jin Qilin analyst research report, authoritative, professional, timely, and comprehensive, to help you tap potential potential opportunities!  rare!Super 11 trillion investment plan is coming!Such stocks are estimated to be at the bottom of history, and the trillion-dollar industry scale is quietly starting!To respond to the overseas epidemic escalation, “pure domestic demand” should be configured?  Source: Every editor, every editor. Today, there is good news. On the morning of February 27, the news conference on the prevention and control of infectious diseases of Guangzhou Medical University was held.At the meeting, Zhong Nanshan, the leader of the high-level expert group of the National Health Commission and the director of the National Medical Research Center for Respiratory Diseases, said that we are confident that the epidemic will be basically controlled by the end of April.  There is also a lot of news worthy of attention. According to the Securities Daily, recently, the central and local governments have issued policies to actively promote the resumption of production and production of major enterprises and the construction of major projects.According to incomplete statistics, recently, Beijing, Fujian, Henan, Yunnan, Jiangsu and other places have released a list of investment plans for major projects in 2020, with a total investment of more than 11 trillion yuan, of which infrastructure investment is still an important part.  The domestic epidemic situation has been gradually controlled and the market risk has increased. This is also reflected in the surface of today’s disk. Solid waste treatment, UHV, hotel catering, food and beverage, large aircraft, etc. have risen the most, and the most popular semiconductors, chips, and corrosion machines in the early stage.Technology stocks continued to adjust today.  Some analysts believe that since December last year, some technology stocks have doubled. These stocks have profit selling pressure. At present, it is not advisable to chase up these stocks. They need waste to digest profitable disks. Another is that at presentWhether the broader market has finished adjusting is uncertain.Therefore, the wise choice is that those stocks that are currently at the bottom and are well catalyzed and have just started have a better chance of winning.  What other low-level industries are worth exploring?Today, Xiaobian came to sort it out.  Super 11 trillion investment plan is here!  On the news, according to the Securities Daily, recently, the central and local governments have promulgated policies to actively promote the resumption of production and restart production of major projects and the construction of major projects.According to incomplete statistics, recently, Beijing, Fujian, Henan, Yunnan, Jiangsu and other places have released a list of investment plans for major projects in 2020, with a total investment of more than 11 trillion yuan, of which infrastructure investment is still an important part.  From the perspective of the past few days, the early attractions such as semiconductors and chips have continued, while the domestic demand sectors such as infrastructure and real estate have begun to rise.The decoration company Dongyi Risheng has 3 daily limit, Hongrun Construction, Hefei Urban Construction, Shandong Road and Bridge, and Jiaojian Construction Co., Ltd. have 2 daily limit.  Today, UHV, hotel catering, solid waste treatment started, Guodian Nanzi, Xu Ji Electric, Changgao Group, Fengfan shares and other daily limit, Huatian Hotel and Restaurant catering, Xi’an food daily limit, snow wave environment for solid waste treatment,CICC Environment, Qiaoping environmental protection daily limit.  Since December of last year, the GEM Index has risen by 30%, and some technology stocks in the two cities have also doubled. For investors, it is also a bit dazed at the moment, and it is to continue to chase the hot stocks with huge gains.Or quietly lurking low stocks?  CICC believes that this year’s strategic allocation proposal “new” main line, “old” timing.Year-to-date, both in A-shares and Hong Kong stocks, technology-related, pharmaceuticals, advanced manufacturing and other new economic areas are leading the market, while traditional old economic sectors are relatively backward due to factors such as epidemics.The current overseas epidemic has been escalated, and China has made positive progress in controlling the epidemic, and the resumption of work is continuing to deepen. The interpretation of overseas epidemics may be a more complex non-trade sector or “pure domestic demand” related area of Chinese policies to stabilize China’s growth, andConsidering that the estimates in most traditional fields are relatively relative, we believe that these “pure domestic demand” sectors may become a stage allocation opportunity.The short-term growth of the new economy has intensified, and it remains the main line in the medium term, including technology, the new energy vehicle industry chain, advanced manufacturing and consumer medicine.  These stocks are estimated to be at the bottom of history. So what are some low-end sectors worth digging?  According to the news, 5G is definitely one of the “new infrastructures”.Basically, in addition to traditional infrastructure projects such as energy and transportation, “new infrastructure” projects such as 5G communication network construction and logistics system upgrade and reconstruction have also become the focus of development this year.According to media reports, China Mobile’s target of reaching 300,000 5G base stations by the end of 2020 remains unchanged. China Unicom and China Telecom will strive to complete the goal of gradually completing the construction of 250,000 base stations in the first three quarters.  The 5G sector has been fired for more than a year. The leading ZTE company has seen a huge increase. From the bottom of 11 yuan in 2018, it has now risen to more than 50 yuan. Hudian shares rose from more than 3 yuan in 2018 to a maximum of around 30 yuan.Yi Technology 成都桑拿网 increased from around 8 yuan to around 30 yuan.TCL technology, which makes 5G mobile phone displays, has also doubled in recent months.So are there any sub-areas worthy of attention?  Soochow Securities believes that when we look back on the historical estimation of optical modules, there have been two peaks (Jin Qilin analyst): Phase 1: 2007-Mid-2009, telecommunications market demand is the main driving force of the industry’s prosperity.The module benefited from 3G construction, driving the sector to gradually increase; Phase 2: From the end of 2013 to the end of 2018, the telecommunications market was the first to start, pulling the sector gradually upwards, and at the same time, the traffic infrastructure kept up with the pace, driving the industry’s continued prosperity; Phase III: 2019Since then, the base station infrastructure market has exceeded expectations. We 北京桑拿会所 believe that future receipt flows, cloud vendor capital expenditures, and other factors will affect the 5G optical module industry boom cycle.  Since 2019, the growth rate of traffic has gradually transitioned, but since the beginning of 5G network construction, mobile Internet traffic has not yet entered an explosive phase. The growth rate change trend may continue to mid-2020, and the third or fourth quarter will achieve trafficIncrease in growth rate.We expect 5G mobile network traffic to be 50 times that of 4G.  Cloud vendors’ capital expenditures for 2011-2014 were 583.US $ 9.3 billion, 2015-2018 cloud vendor capital expenditure was 1528.9.8 billion, an annual increase of 161.84%.The exponential increase in traffic in the 5G period will further increase the demand for cloud computing. Therefore, we believe that cloud vendors’ capital expenditure in the 5G period is higher.Why do we say the expansion of cloud vendors, Xiaobian explained here, data centers in the field of cloud computing will also use optical modules.  Looking back on the changes in the market share of the optical module market in the past three years, the top five giants are Finisar, Lumentunm, Light Motion Technology, Zhongji Xuchuang, and Oclaro. Among them, Finisar has maintained its position as the industry leader with a market share of over 14%.In terms of manufacturers, competition is fierce and there are not many differences.  The other segment is the large aircraft segment. According to the official website of COMAC, on February 26, 2020, China Eastern Airlines subsidiary 123 Aviation Co., Ltd. was officially unveiled and will mainly operate domestically produced aircraft such as ARJ21 and C919.China Eastern Airlines said that this is not only the current key task of China Eastern Airlines’ resumption of production and production, but also an important part of continuous expansion and development, marking that it is a step forward in the commercial operation of a new generation of domestic aircraft and started a new journey of market-oriented operation of domestic aircraft.  Last September, Chinese business released 2019?2038 Civil Aircraft Market Forecast Annual Report.According to the annual report, after the continuous rapid growth of China’s transportation industry, especially the increasing proportion of air transportation in the transportation industry, the Chinese aviation market will receive 9,205 passenger planes with more than 50 seats in the next two decades, with a market value of approximately 1.4 trillion US dollars (based on the 2018 catalog price), equivalent to about 10 trillion yuan.Among them, 958 passenger turbofan regional jets above 50 seats were delivered; 6,119 single-aisle jet airliners above 120 seats were delivered; and 2128 jets with dual-aisle jets above 250 seats.  Dongxing Securities believes that the C919 has entered the “6 aircraft, 4 locations” high-intensity test flight phase.2020 can be regarded as the first year of large aircraft. According to COMAC’s forecast, the size of the Chinese civil aircraft market is about 400 billion yuan per year.At present, there are about 4,000 civil aviation aircraft in China. If 30% -50% of the inventory is replaced in advance, the C919 large aircraft will continue to increase its volume.C919 large aircraft completed 6 test flights this year, and it is expected that the entire airworthiness certification process will be completed and mass production will be completed by 2021, with a target annual production of 100 aircraft.According to COMAC’s official website statistics, there are currently 28 C919 update customers, and the total number of orders exceeds 1,000.The establishment of Airline One Two Three is another domestic flight based on Chengdu Airlines and Tianjiao Airlines.Looking at the time dimension of 5-10 years, under the weak macroeconomic background, the orders of aviation OEMs and the industry’s prosperity are obviously rising.  AVIC’s subsidiary AVIC aircraft, AVIC Shenfei, Hongdu Aviation, and Zhongzhi Co., Ltd. have resumed work. Their main employees are local staff, and production and operation are basically not affected by the epidemic.Military OEMs are currently full of orders. As production, supply and marketing are self-contained, the production, delivery, and test flights of all companies are proceeding normally.Since the fourth quarter of 2019, military orders have recovered significantly, and military rigid demand has soared.  In terms of estimates, the four OEMs are currently in the historical bottom area.Based on a conservative growth rate of 20%, we predict that China Airlines Shenfei ‘s PE evaluation will be 37 times (10.700 million profit), Zhongzhi shares PE evaluation 39 times (7.500 million profit), and the delivery volume of this year may exceed expectations.The conservative estimate after the replacement of AVIC aircraft assets is to increase the profit by 300 million. According to the 20% growth forecast, the PE estimate for this year is 41 times (11.700 million profit).Among the three companies mentioned above, AVIC Aircraft is a major player in the C919 industry chain, and the market for civil aircraft is more extensive.  Minsheng Securities believes that the current domestic level of domestic aviation development technology is relatively backward, military aircraft and civil aircraft aviation engines are still partially dependent on imports, the localization rate has been replaced, and core technologies urgently need to be autonomous and controllable.The annual aero engine market size in 2018 was 470.900 million yuan in 2013?The compound growth rate in 2018 reached 18.twenty four%.According to our calculations, the space for the military aviation development market will reach 350 billion yuan in the next 20 years, with domestic alternatives for civil aviation development overlapping, and the domestic aviation development market has ample space.Companies involved in the field of aero-engines include aerodynamics, stone smelting, etc.  In addition, recently, Shen Wanhongyuan pointed out that the fundamentals of military white horses have improved significantly, and it is expected to usher in repairs.In the recent military assembly and white horse standard duration, we believe that the market’s short-term style switching is leading, the industry and company fundamentals have continued to improve, and orders are expected to continue to grow rapidly.The 2019 annual report performance forecast shows that White Horse’s performance is expected to continue to grow at a high level, and the prosperity is in an upward channel.The estimates that overlap the current military general assembly and white horse standard are at the bottom of history (Zhongzhi shares only 29 times PE in 2020, AVIC Mechanical 21 times, and China Heavy Industries PB is only 1.2) It is expected that after the short-term market trend changes, the industry assembly and the White Horse standard will usher in a forecast conversion market. The current key target is estimated to be only 29 times the center of 2020, and the configuration value is prominent. Recommend Zhongzhi, AVIC Shenfei, AVIC Mechanical and Electrical, BaoTitanium shares, etc.  Judging from today’s market, some military stocks have started.