However, some institutions have begun to warn that the current increase in some stocks has seriously overdrawn the fundamentals. After a short-term sharp rise, investors need to be alert to the risk of sector correction. ...
The concept of "carbon neutrality" is popular against the market.
According to the data of Oriental Fortune Choice, since March, a number of "carbon neutral" concept stocks have appeared in the institutional research list, including Sangang Minguang, Baofeng Energy, Nanhua Instrument, shougang shares and Kerong Environment.
Specifically, Harvest, Bosera, Changsheng, Nuoan, Golden Eagle and other 12 fund companies investigated Sangang Shuguang; Yin Hua, Jianxin Fund and Taikang Assets Research Baofeng Energy; Bank of China and China Merchants Fund investigate shougang shares; The Financing Fund investigated the financial environment.
It is worth noting that the National Social Security Fund, which has always been low-key, also appeared in the survey list of shougang shares. In addition, Bi Sheng (Shanghai) Investment Management Co., Ltd., a foreign private equity company, participated in the investigation of Minguang in Sangang.
Kerong Environment said in the survey that the country actively advocates the application of "carbon dioxide peak emission, carbon neutrality" technology, and the company will continue to work hard in the field of energy conservation and emission reduction technology, and continue to innovate and upgrade energy-saving combustion technology; In the hazardous waste disposal of industrial production and residents' life, carbon dioxide emissions should also be reduced as much as possible. At the same time, the introduction of advanced sewage treatment technology has made some achievements in the treatment of refractory and refractory sewage, and continues to play an important role in the green mountains and green rivers of China.
Institutions prompt short-term callback risk
After a period of continuous rise, the "carbon neutral" plate began to differentiate obviously. On March 24, Changyuan Power, Xintian Green Energy and Feida Environmental Protection continued their daily limit; Huayin Power and Wang Nan Energy fell more than 8%.
Many market participants issued risk warnings, saying that the current surge of "carbon neutral" concept stocks is the result of market speculation. Whether the theme hype can stand the test depends on whether there is performance support, and carbon neutrality should be treated rationally.
"We cannot simply look at carbon neutrality from the perspective of supply-side reform. Therefore, under the theme of carbon neutrality, speculating on backward production capacity and speculating on the logic of short-term product price increase will all produce risks. In particular, some stocks rose sharply in a short period of time and broke away from the fundamentals. " An institutional source in Shanghai said.
An investment researcher of a fund company believes that the valuation of some stocks in the current position is already high. With the continuous release of the performance of related industries, it is necessary to carefully screen and tap the stocks whose future performance growth rate and valuation can really match.
Although it is necessary to avoid the risk of short-term speculation, many public investors and foreign investors still think that "carbon neutrality" is a high-quality track worthy of long-term tracking.
Lu Bin, research director of HSBC Jintrust and manager of HSBC Jintrust Low Carbon Pioneer Fund, said recently that "carbon neutrality" may be the main line of a new structural bull market. "Carbon neutrality" is mainly divided into two parts, one is a new energy industry that changes the energy structure, and the other is a recycling industry that controls supply and production capacity to reduce carbon emissions, including energy and resource recovery.
He further explained that with the goal of "carbon neutrality", new energy industries such as wind power, photovoltaic, energy storage and electric vehicles are expected to usher in a broader space and growth. Pro-cyclical industries are major carbon emitters. In the future, it is possible to improve the industry threshold through supply-side structural optimization and new technologies of energy saving and carbon reduction, so as to benefit leading enterprises with technological advantages and integration. Carbon neutrality is also expected to reduce the "profit fluctuation" of cyclical industries, thus changing the fundamental trend and valuation system of the whole industry.
Li Chengen, CEO of Fidelity International, a global asset management giant, said recently that it takes a lot of time and money to achieve such an important transformation as "carbon neutrality". Technological progress will help reduce the cost of China's transition from fossil fuel to renewable energy. "Under the guidance of policies, many enterprises have also begun to respond. As investors, we believe that these enterprises focusing on sustainable energy technologies will have a very broad long-term growth space. "