In fact, the layout of institutions is also changing with the market cycle. According to the statistics of tonghuashun, the reporter of Securities Daily found that in the past 30 days, many institutions, including Everbright Securities, Bohai Securities, Tianfeng securities, etc., have published 241 research papers that are optimistic about the aftermarket performance of the electrical equipment industry, ranking in the forefront of 28 types of emergency industry.
Great Wall Guorui Securities said that at present, the overall enterprise valuation of the electrical equipment industry is about 20.77 times, and the industry valuation has entered the high-level area. Different from the overestimated value in April 2019, the annual report data of industry leading enterprises in 2019 has not been disclosed, and the current valuation level has implied the expectation of high performance growth of industry leading enterprises. In the short term, we should avoid high valuation and low growth varieties, and continue to hold the industry leading stocks with good growth.
In terms of individual stocks, 10 stocks, such as Tongwei (28 stocks), Ningde times (27 stocks), Longji (15 stocks), Jingsheng electromechanical (11 stocks), Zhonghuan (6 stocks), kestar (4 stocks), Jiechang drive (3 stocks), nenke (3 stocks), Dongfang Risheng (3 stocks) and Hongxiang (3 stocks), have been bought or increased by 3 or more institutions during the period Optimistic about rating.
In terms of growth capacity, as of February 28, 58 companies in the electrical equipment industry have published the annual report of 2019, of which 53 companies have a positive net profit in 2019, accounting for 91.38%.
During the reporting period, the net profits of Ningde times (4.356 billion yuan) and Huichuan Technology (1.047 billion yuan) in 2019 exceeded 1 billion yuan, with Jingsheng electromechanical (636 million yuan), Siyuan electric (574 million yuan), hancable Co., Ltd. (446 million yuan), kostar (320 million yuan), treide (279 million yuan), Jinlongyu (278 million yuan), Nader (273 million yuan), Jiangsu Leili (237 million yuan) The net profits of 12 companies in 2019, including zhongyeda (224 million yuan), Chuanyi (220 million yuan), Wanma (220 million yuan), Jinbei electric (206 million yuan), are all over 200 million yuan.
It is worth mentioning that Tesla and Ningde times recently discussed the use of cobalt free lithium iron phosphate batteries in Chinese factories. With the implementation of new technology, the advantages of lithium iron phosphate are obvious, and the penetration rate of new energy passenger vehicles is expected to be greatly improved in the future. In the long run, the catfish effect is becoming more and more obvious, which is conducive to the acceleration of the follow-up domestic new energy vehicle market parity and the improvement of the overall performance, thus driving the demand of related industries to further increase.
The first reason why the field of electrical equipment is favored by institutions is that policy subsidies drive the improvement of business operation of relevant companies and promote the sustained and rapid growth of performance. According to the notice of national energy administration on matters related to wind power and photovoltaic power generation project construction in 2020 (Draft for comments) issued by national energy administration, the total subsidy budget for new photovoltaic power generation project in 2020 is 1.5 billion yuan, including 1 billion yuan for subsidy bidding project.
The second is Teslas active layout in the domestic market. With the continuous growth of Teslas sales, the relevant industry chain will become a key investment field, with better development opportunities in battery, structural parts, negative pole, positive pole, diaphragm, electrolyte and other fields.
Combined with the analysis of A-share market, since the end of the festival, semiconductor, 5g communication and other hot topic markets have been eye-catching, and A-share market has shown obvious differentiation. As enterprises gradually return to production, some cyclical sectors will usher in investment opportunities. As a traditional and innovative compatible industry, electrical equipment is still a main investment line in the long run. This is what senior industry figures said to reporters.
Source: responsible editor of Securities Daily: Yang bin_nf4368