The market fluctuated throughout the day, and the gem index led the decline. On the market, the digital currency plate strengthened in the afternoon, the real estate plate fluctuated and fell in the afternoon, and there are still more than 10 shares in the plate. In terms of decline, racing stocks such as lithium batteries fell into adjustment again. Pharmaceutical stocks fell sharply in the afternoon, Chinese medicine opened the daily limit of diving in the afternoon, once close to the limit. In addition, in the afternoon, individual stocks staged a wave of frying boards, and the rate of exploding boards in the two cities once exceeded 50%. On the whole, it fell more than rose less, and more than 2400 stocks in the two markets fell. Today's turnover on the Shanghai and Shenzhen stock markets is 1.0091 trillion yuan, which is 50.7 billion higher than that of the previous trading day, and the turnover between the two markets is back to one trillion yuan. On the plate side, digital currency, electronic ID card, real estate services, water conservancy and other sectors led the increase, while salt lake lithium extraction, metal nickel, HJT batteries, large fund holdings and other sectors led the decline. By the close, the Prev index was down 0.44%, the Shenzhen index was down 1.19%, and the gem index was down 1.38%. Northbound funds bought 1.053 billion net throughout the day, of which Shanghai stocks bought 1.729 billion and Shenzhen stocks sold 676 million.
For the future market trend, institutions have expressed their views.
Tianfeng Securities believes that the promulgation of the 14th five-year Plan of traditional Chinese Medicine will help to establish and improve the evaluation index system and institutional mechanism suitable for the inheritance and innovative development of traditional Chinese medicine from the national strategic level. Combined with the "National Healthcare Security Administration State Administration of traditional Chinese Medicine guidance on Medical Insurance supporting the inheritance and innovative Development of traditional Chinese Medicine" issued by National Healthcare Security Administration and the State Administration of traditional Chinese Medicine in December 2021, the policy side and payment side put forward omni-directional incentive measures from traditional Chinese medicine institutions, Chinese medicine services and traditional Chinese medicine products, which will have a far-reaching impact on the development of the whole Chinese medicine industry. As the fundamental driver of policy catalysis and superposition has a high performance-to-price ratio, the traditional Chinese medicine industry has a certain valuation flexibility.
According to the Sino-Thai strategy, from the perspective of GDP, the COVID-19 epidemic has a greater negative impact on the tertiary industry and the secondary industry. According to different industries, the degree of impact is as follows: accommodation and catering > construction > wholesale trade > transportation and warehousing > manufacturing > real estate > leasing and business > agriculture, forestry, animal husbandry and fishing > finance > information technology. On the production side, measured by capacity utilization, the degree of impact is as follows: manufacturing > public utilities > mining. On the demand side, the impact of the epidemic on social zero is greater as a whole, the impact on service consumption is greater than that of commodity consumption, and the impact on optional consumption is greater than that of optional consumption.
Citic Construction Investment Strategy believes that at present, the leading battery module integration enterprises have an industrial layout for N-type high-line battery enterprises, and will launch mass production products in 2022. Among them, due to the relatively low cost of TOPCon at this stage, it is expected that there will be a large-scale release in 2022, in which Jingke, Zhonglai and other battery module enterprises take the lead in layout, the two have begun to put more than 20GW production capacity, and it is expected that the first batch shipment will be achieved in the first half of 2022. According to our statistics, the production expansion of TOPCon in 21 and 22 years will reach the level of 30 and 40-60GW respectively. In the early stage of new technology penetration, the leading enterprises with N-type mass production layout are expected to take the lead in obtaining high profits and market share, and continue to expand their dominant position. It is recommended to pay attention to the leading companies of component batteries.
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