What are the 222 hydrogen energy concept stocks? The 222 Pujiang Innovation Forum, a high-level international forum jointly established by the Ministry of Science and Technology and the Shanghai Municipal People's Government, will be held in Shanghai from May 24 to 26, 222, with the theme of "New Vision and New Future of Technological Innovation".
At the Shanghai Media Briefing of Pujiang Innovation Forum held yesterday, the Secretary-General of the Academic Committee of Pujiang Innovation Forum, the Deputy Director of Shanghai Science and Technology Commission, and the spokesperson Luo Dajin introduced the main contents and preparations for the 222 Pujiang Innovation Forum.
According to reports, one of the highlights of this year's forum is that the forum will jointly release a series of think tank research results, including China New Generation Artificial Intelligence Development Report 222, China technology and finance Ecological Annual Observation 222 and 222, in conjunction with the Strategic Research Institute of the Ministry of Science and Technology, Shanghai Jiaotong University, China Automotive Engineering Society and International Hydrogen Fuel Cell Association (in preparation).
the main contents of this forum are "1+4+11", namely, an opening ceremony and plenary session, 4 special forums and 11 special forums. Special forums include the Round Table Summit of Young Makers of Scientific and Technological Innovation, and seminars of international high-level scientific research institutions.
Thematic forums mainly include three industry forums, three future (science) forums and regional (city) forums, entrepreneur forum, policy forums, cultural forums and technology and finance forums.
Among them, the Future (Science) Forum will focus on "Ubiquitous Microbe", "New Generation Integrated Circuit Technology" and "AI+ Medical Care: Empowering Health". The regional (city) forum will focus on promoting the integrated development of the Yangtze River Delta, the construction of Guangdong-Hong Kong-Macao Greater Bay Area, the coordinated development of Beijing-Tianjin-Hebei (planning and construction of xiong'an new area), the innovative development of world cities, and the achievements, problems and difficulties of current construction.
technology and finance Forum will focus on the experience and enlightenment of international capital market to science and technology innovation board, the role of venture capital institutions in promoting high-quality technology enterprises to enter the capital market, the opportunities and challenges brought by capital market innovation to sub-sectors, financial innovation and risk control, etc.
It is reported that up to now, there are nearly 15 invited speakers in this forum, coming from 23 countries and regions, which is the largest number of countries since the forum was founded.
Luo Dajin said that the forum is striving to become an important signal releasing place, an important topic leading place and an important discussion source in the field of global scientific and technological innovation in accordance with the model of "Science and Technology Davos+World Scientific and Technological Work Conference", and make positive contributions to building an innovative country and a scientific and technological innovation center with global influence.
cimc group: purchasing, storage and demolition led to a year-on-year performance of +77%, and asset optimization continued to advance
cimc group 39
Research institute: soochow securities analyst: Chen Xianfan, Ni Zhengyang Date of writing: 218-11-2
Purchasing, storage and demolition led to a year-on-year performance of +77%, and the performance of the first three quarters was deducted by an extraordinary ratio of-16. The net profit of returning to the mother was 2.317 billion yuan, a year-on-year increase of +76.96%. It should be noted that the company's land acquisition, storage and demolition, which was originally located in Jiaozhou area, enabled the company to obtain an after-tax profit of about 1 billion yuan in the third quarter, which was included in the current income of 218Q3 at one time. In the first three quarters, the company deducted a net profit of 1.156 billion yuan, which was -16.54% year-on-year.
The container demand continues to be strong, and the cold box has become a new bright spot: in the first three quarters, although the trade friction between China and the United States has been escalating, the new demand has been superimposed and updated, and customers have continued to maintain strong purchasing power for new containers. In the first three quarters, the revenue of this sector reached 24.625 billion yuan, a year-on-year increase of +36.58%. Among them, the total number of dry containers was 1,28, TEU, up +24.63% year-on-year; The total number of cold boxes was 116,2 TEU, up +72.66% year-on-year. Mainly due to the good prosperity of the industry, Superimposed Maersk closed its factory in Chile in June this year, which led to the improvement of the company's global competitiveness. We predict that with the last round of intensive container replacement before 28, the global container demand will remain high in the next three years, thus driving the company's revenue scale to maintain a high level.
the demand for road transport vehicles is good, and the restructured joint-stock company promotes overseas listing: the revenue of road transport vehicles business in the first three quarters was 17.618 billion yuan, up +2.21% year-on-year. Domestically, the sedan car market is affected by the domestic policy of controlling overloading, with a substantial increase in orders, a steady increase in investment in infrastructure fixed assets and an increase in real estate demand, which drives the demand for engineering construction cars; Overseas, the U.S. economy is growing strongly, and the demand for renewal of marine skeleton vehicles is strong; Europe's overall economic performance is good; Emerging markets have bid farewell to the high-speed growth period supported by the oil economy and commodity trade, driving steady income growth. In addition, in order to realize the overseas listing of CIMC vehicles, the company changed into a joint stock limited company in the third quarter by converting its net assets into shares, further optimizing the asset quality.
There is still much room for energy-based liquefaction and airport, which is promising for a long time: the energy-based liquefaction sector, benefiting from the continuous and stable global oil price and the great attention paid to natural gas production increase in China, achieved revenue of 9.852 billion yuan in the first three quarters of CIMC Anruike. +17.59% year-on-year. As the gap between supply and demand of natural gas is still large, we believe that this plate will maintain a high growth for more than three years. Airport business segment * * * achieved revenue of 2.824 billion yuan, up +46.45% year-on-year. Through the American subsidiary, the company strives to expand this single large market, and through the acquired Ziegler, it strives to develop the European and domestic fire rescue markets. All sub-sections have great development space and are promising for a long time.
profit forecast and investment rating: the company, as the global leader in container and road transport vehicles, continues to rise in the plate of energy-saving equipment and airport, and optimizes the quality of assets by disposing of assets such as land and offshore engineering, and splitting up business departments and listing overseas. We estimate that the operating income in 218-22 is 912/969/12.1 billion yuan, and the net profit attributable to the mother is 25.6 (including non-recurring income of about 1.1 billion yuan)/3.5/3.62 billion yuan, corresponding to EPS of .86/1.2/1.21 yuan and PE of 218-22 of 12/1 respectively.
risk warning: the global trade downturn and the loss of offshore sector have enlarged the impact
Dongxu Lantian: restricted stock incentive helps the company develop
Dongxu Lantian 4
Research institute: Everbright Securities analyst: Wang Wei, Yin Zhongshu Date of writing: June 8, 218
The company released the restricted stock incentive plan (draft) for 218.
Employee stock ownership+restricted stock incentives and interest binding help the company's development. The company has issued employee stock ownership plans twice, accounting for 3.5% of the company's total share capital, and the number of employees holding shares is nearly 2,. The number of restricted shares to be granted this time accounts for 2.13% of the company's total share capital, and the incentive target is ***98 people. The number of shares granted for the first time was * * * 22.79 million shares, and the grant price was 6.5 yuan. The assessment target for lifting the sales restriction is that the company's net profit in 18-2 years shall not be less than 2, 2.5 and 3 billion yuan respectively. After the grant of restricted shares, the interests of employees will be further bound with the interests of the company and promote the development of the company.
Earnings forecast and investment rating: We predict that the diluted EPS of the company in 218-22 will be .33, .46 and .6 yuan respectively, and the corresponding dynamic P/E ratio (share price of 1.28 yuan) will be 32, 22 and 17 times respectively, covering the "buy" investment rating for the company for the first time.
Risk factors: 1. The verification period of new entry field is too long, and the actual sales are less than expected; 2. The intensification of industry competition leads to the decline of product prices; 3. The growth of photovoltaic power generation is less than expected; 4. The continuous increase of raw material prices brings cost pressure.
eco-friendly PPP projects have won the bid one after another, with abundant funds and financing norms to ensure the project landing. Since 218, the company has won the bid for six eco-friendly PPP projects with an investment of * * * 7.684 billion yuan. The company adheres to the consistent concept of "committed to the eco-environmental construction in China". Winning the bid for multiple projects is the embodiment of the gradual implementation of the company's eco-environmental business strategic planning, and it is the concrete practice of the company to practice ecological civilization and build a beautiful China. Due to the company's PPP bill paying attention to the quality of the project itself, abundant funds and standardized financing, the balance of cash and cash equivalents at the end of the first quarter of 218 was still nearly 1.9 billion yuan, which double guaranteed the steady progress of the company's winning project. The publication of Circular No.92 and Circular No.23 of the Ministry of Finance did not have a substantial impact on the company. We are still optimistic about the stable landing of the company's existing projects and the continuous acquisition of new orders.
maintain the "buy" rating. We continue to be optimistic about the development brought by the company's "new energy+environmental protection" two-wheel drive. It is estimated that the company's net profit for 18-2 years will be 994 million yuan (in 218, it is estimated that there will be 933 million yuan of non-recurring gains and losses from the sale of real estate business, including 1.928 billion yuan), 2.29 billion yuan and 2.553 billion yuan, corresponding to non-EPS deduction of .74 billion yuan for three years respectively.
Yuexiu Financial Holdings: AMC and the financial leasing of Shuang Sheng, and the investment dragged down the performance
Yuexiu Financial Holdings 987
Research Institute: Essence Securities Analyst: Zhao Xianghuai, Zhang Jingwei Date of writing: 218-9-4
Event: In the first half of 218, the company achieved a total operating income of 2.6 billion yuan, an increase of 11% year-on-year; Realized a net profit of 19 million yuan, a year-on-year decrease of 27%; We believe that the core changes are:
(1) The financial leasing business has developed rapidly. Benefiting from the tightening of market funds and the increase of financing interest rate in the first half of the year, the income of financial leasing business increased substantially, contributing 3 million yuan to the parent company; (2)AMC business has become a new driving force for profit. In the first half of the year, the scale of bad management increased by 18.6 billion yuan, accounting for 39% of the market. Guangzhou assets contributed 4 million yuan to the long-term right investment. (3) The investment income is not good, and the risk of equity pledge is prominent; In the first half of 218, the company's fair value change loss and asset impairment were 8 million yuan and 7 million yuan respectively, and the securities business lost 3 million yuan;
The financial leasing business is developing rapidly, optimizing the structure and controlling risks; In the first half of 218, thanks to the tightening of market financing environment and the improvement of real economy financing, Yuexiu Leasing achieved operating income of 9 million yuan and net profit of 3 million yuan, up 49% and 55% respectively. Faced with the intensification of market credit risk in the first half of the year, the company adjusted the scale and structure of project investment, with the project investment of 8.7 billion yuan, down 1% year-on-year, of which the first-and second-tier regions accounted for over 9%, the asset scale reached 31.8 billion yuan, the credit risk was well controlled, and the non-performing asset ratio was .38%.
High-end projects blow out, and national brands show their strength. The company adheres to the route of high-end and differentiation, gradually reduces the proportion in low-end areas such as packaging, and marches into emerging areas such as high-speed rail, bridges, new energy and large buildings, and has completed a number of landmark projects. In the field of transportation, the company has obtained the qualification of qualified suppliers of five OEMs among the six OEMs of CRRC Group; In the field of high-end construction, the company continues to supply many landmark projects such as Xiong 'an New Airport, and won the bid for the 636 project of Wuhan green center, the tallest building in China; In the field of bridge construction, the company also reached a strategic cooperation with the bridge construction unit of Hong Kong-Zhuhai-Macao Bridge, becoming the only successful bidder in China; In the field of new energy, the company's photovoltaic silica gel ranks first in the domestic photovoltaic industry. The landmark projects in many fields show the strength of the company. With the development of emerging industries and the growth of high-end demand, the company's products will benefit first.
photovoltaic backplane is driven by two wheels, and new business brings new growth. With the rapid growth of photovoltaic power generation in China, the demand for photovoltaic backplanes is rising rapidly. With the accumulation of new materials, the company entered the photovoltaic backplane market and quickly reached the market leading level. The demand for photovoltaic backplanes in China is strong, and the compound growth rate of photovoltaic power generation in 212-217 exceeds 1%. In 217, the leading domestic photovoltaic backplanes enterprises are in a state of serious demand, and the company's capacity utilization rate is as high as 156%.
shougang shares: Q2' s net profit hit a record high in a single quarter, paying attention to the profit elasticity of Jingtang Phase II
shougang shares 959
Research institute: Everbright Securities analyst: Wang Zhaohua, Wang Kai Date of writing: August 2, 218
Q2' s net profit in 218 increased by 82% month-on-month to a record high, with a PB of only .8 times. In the first half of 218, the annual operating income was 31.5 billion yuan, a year-on-year increase of 11.6%; The net profit of returning to the mother was 1.424 billion yuan, a year-on-year increase of 5%. Despite the impact of environmental protection and limited production, the company's steel output decreased year-on-year, but driven by higher steel prices, the profit is still quite rich. After the end of production restriction, the net profit of the company in 218Q2 in a single quarter was as high as 92 million yuan, an increase of 82.33% from Q1, the highest in a single quarter. The company's current PB is only .8 times.
Automotive panels and electrical steel are superior products, and the proportion of high-end products has increased significantly. In terms of product structure, almost all products in shougang shares are plate products, among which automobile plates and electrical steel are the company's dominant products. In the first half of 218, the operating income of the company's cold-rolled products accounted for 61% of the total revenue, and hot rolling accounted for 33%, accounting for 95% in total; The gross profit of cold-rolled products accounts for 44% of the total gross profit, and that of hot-rolled products accounts for 48%, accounting for 92% in total. In the first half of 218, the output of the company's high-end leading products increased significantly, of which the Qianshun base increased by 14.5% year-on-year, and the Jingtang base increased by 5.9% year-on-year. < P > Jingtang Iron and Steel has a stable profit, and the second phase is expected to be completed by the end of the year to provide long-term profit elasticity. Jingtang Iron and Steel has achieved a net profit of 1.83 billion yuan in 217, a substantial increase of 32% year-on-year; In the first half of 218, it achieved a net profit of 91 million yuan again, continuing a good profit trend. The first-step project of Jingtang Phase II has a planned steel production capacity of 5.1 million tons, accounting for 32% of the company's current steel production. By reducing other backward production capacity in Tangshan, it is expected to be completed by the end of 218 and put into production gradually from 222 to 22, providing long-term profit elasticity in the future.
The operation is stable and the profit elasticity is high, and the rating of "overweight" is maintained. Based on the rising price and profit level of the company's steel products, and the future profit elasticity provided by Jingtang Phase II, we raised the company's expected net profit for 218 -22 to 2.722 billion yuan, 3.58 billion yuan and 3.379 billion yuan, corresponding to EPS of .51 yuan, .58 yuan and .64 yuan respectively. The company's current PE(218E) is 7.9 times. Referring to the valuation level of comparable companies, we give shougang shares a PE valuation of 8.8 times in 218, with a target price of 4.5 yuan, maintaining the company's "overweight" rating.
risk warning: environmental protection and limited production will affect the company's output; Market steel price fluctuation; The construction progress of the second phase of Jingtang is less than expected.
returning to heaven and new materials: technology builds strength, and domestic products replace it.