1. Electrical equipment industry: successful trial of flammable ice test “Future Energyâ€
event:
603000 People buy electricity Beijing May 18, the South China Sea Shenhu Sea gas hydrates (ice-combustible) to achieve continuous production test more than seven days of stable gas production, China Geological Survey announced in the northern South China Sea Shenhu The trial production of combustible ice (gas hydrate) has been successful, and China has become the first country in the world to achieve continuous and stable gas production in flammable ice test in the sea.
The flammable ice reserves are abundant and the prospects for commercial development are unlimited. Natural gas hydrate is an ice-like crystalline compound formed by natural gas and water under high pressure and low temperature conditions. It is like ice and burns in case of fire. It is commonly called "combustible ice" and is mainly distributed in deep sea sediments or land. In the frozen soil, the methane content is high, and the combustion pollution is much less than that of coal, oil and natural gas. The total amount of combustible ice in the world is about twice the total amount of known coal, oil and natural gas in the world. These characteristics make combustible ice known as the green clean strategic energy source with the most commercial development prospects in the 21st century, and it has become a hot spot for countries to compete in research and development. At present, more than 30 countries and regions have conducted research and survey exploration of “combustible iceâ€:
United States: In 1998, natural gas hydrates were included in the long-term plan as a strategic energy source for national development, and are ready for trial mining in 2015. The annual investment in combustible ice development is nearly 1 billion US dollars;
Japan: The Ministry of Economy, Trade and Industry of Japan launched the "Japan Flammable Ice Mining R&D Plan" in 2001 to develop a strategic development plan for 18 years. The annual investment in combustible ice development is about 600 million US dollars. In 2011, China officially launched the National Hydrate Project for 20 years. Based on the exploration and evaluation, the company will use the research results of offshore mining technology to carry out experimental mining of hydrates and enter the stage of commercial exploitation in 2030. It is conservatively estimated that the total resources of combustible ice in China is about twice the total amount of conventional natural gas and shale gas. According to the current consumption level, it can meet the energy demand of China for nearly 200 years.
Mining is difficult, and China has led the world. Since most of the flammable ice is buried in the seabed, the exploitation of natural gas hydrates has always been a worldwide problem. At present, countries such as Japan, the United States, and Canada are stepping up their trials of this future energy source. The Japanese “Earth†deep-sea exploration vessel extracted flammable ice from the offshore of the Amami Peninsula near Aichi Prefecture in March 2013. For the first time, it successfully produced flammable ice on the seabed, but it did not reach the two targets of daily average stable gas production exceeding 10,000 square meters and continuous gas production time exceeding one week. China uses the anti-pressure method to break the accumulation conditions of natural gas hydrate reservoirs, and then gathers the flammable ice dispersed in the same sponge voids, and finally uses the self-developed core technology of water, sand and gas separation to finally take out the natural gas. The successful continuous mining of combustible ice not only indicates that the core technology of natural gas hydrate exploration and development in China has been verified, but also indicates that China's comprehensive strength in this field has reached the world's top level.
Mid- and long-term optimistic about upstream exploration and development. China's "13th Five-Year Plan for Natural Gas Development" has clearly defined the main energy status of natural gas, and strives to increase the proportion of natural gas consumption to 10% by 2020. The development of combustible ice will increase the supply of natural gas, which is expected to promote unconventional oil and gas in China. Development investment growth. At present, the commercialization of combustible ice mining is still in the research stage, and due to high mining costs, the possibility of large-scale development in the short term is low, and the impact on the company's performance is limited. However, considering the rich reserves of combustible ice, there is a possibility of changing the global energy supply in the future. Sex, in the long run, relevant listed companies may benefit greatly. As flammable ice is mainly distributed on the seabed, future offshore oil and gas drilling equipment and service manufacturers are expected to benefit first. Recommended petrochemical machinery 000852, buy , CNOOC project 600583, buy , Jereh shares 002353, buy , Neway shares 603699, Buy . Pacific 601 099, purchase securities Zhang)
2, leisure service industry May monthly report: small holiday travel heat breaks through the attention of the scenic hotel faucet
This month's investment strategy. There are two small holidays from April to May, namely Qingming and May Day. We will review the relevant statistics first. The National Tourism Market of Qingming Holidays received a total of 93 million visitors and realized a tourism income of 39 billion yuan. During the May 1st period, the country received a total of 134 million tourists, a year-on-year increase of 14.4%, and the total tourism revenue was 79.1 billion yuan, a year-on-year increase of 16.2%. Similarly, from the data of the 16-year annual report and the quarterly report, the revenue and profit growth of the leisure service industry (Shenwan classification) exceeded 20%, which also reflected a trend that the industry is still rising steadily. Due to the tight liquidity of the overall market, although the overall systemic risk has been reduced after a series of challenges, this month we recommend investors to pay attention to the low valuation of attractions and hotels due to conservative market preferences. and rapid growth plate leading: Huangshan 600054, bUY, 600,754 shares of Jin Jiang, buy, BTG hotel 600258, buy. (Donghai Securities Donghai Securities Research Institute)
3, the domestic first single blockchain technical support project issue concept shares or benefits
Recently, Baidu Finance and a number of partners including the Leasing and Huaneng Trust jointly issued the ABS project supported by the first blockchain technology in China, with a scale of 424 million yuan. It is reported that the use of blockchain technology provides a guarantee for the transparency of ABS asset operations, improving the efficiency, safety and traceability of the project.
It is understood that this is the first ABS project in China that uses blockchain technology as the underlying technology. It mainly uses blockchain decentralized storage, asymmetric key, consensus algorithm and other technologies to achieve de-intermediation, anti-tampering, and transaction. Traceability and other features. The combination of blockchain and ABS industry can effectively guarantee the authenticity of the underlying asset quality and solve the trust problem of all parties to the transaction. With the further maturity of the solution, more “ABS+ blockchain†cases are expected to emerge.
At present, the technology companies represented by BA T in China are eager to lay out blockchain technology: (1) Tencent takes the lead in setting up Weizhong Bank, participating in the launch of the financial blockchain cooperation alliance, launching the alliance chain cloud service based on Tencent Cloud and releasing the block. chain white paper; (2) Alibaba launched a cloud-based mall excellent block chain technology, bank-based integration and staging block chain of consumer finance solutions, the Hang Seng's electronic 600570, buy a digital ticket system R & D Alliance chain; (3) Baidu uses Baidu financial brain and artificial intelligence technology to cut into the consumer finance field with the help of blockchain.
In this regard, Minsheng Securities believes that domestic technology giants are actively using blockchain technology to focus on expanding consumer finance scenarios. Under the trend of accelerated consumption upgrades, consumer finance markets are welcoming. It is recommended to focus on the advancement of blockchain technology and application targets, such as Xinguodu 300130, Buy (establishment of blockchain research center), Feitian Integrity 300386, Buy (in cooperation with blockchain technology company Bubi), Wintime Win 300377, buy , Quartet Jingchuang 300468, buy (underlying technology research and development), Sunyard 600571, buy (domestic alliance chain cloud platform) and so on.
GF Securities 000776, BUY concern: 1) Feitian (300386.SZ), the company developed hardware wallet virtual currency, and working with Network Technology Co., Ltd. to cloth ratio block chain field; 2) four fine record (300 468 .SZ), the company established the Blockchain Innovation Center to work with the IBM Blockchain Technology team to develop cross-border blockchain applications for financial and banking institutions. (Securities Times Network)
4, three factors to boost the oil and gas stocks four main line layout theme opportunities
The positive news and the performance support superimposed oversold rebound, which is the main factor for the better performance of oil and gas stocks. Subsequent brokerages suggested that the theme opportunities brought about by the reform of the oil and gas system along the multi-mainline.
Feng Qinyuan, an analyst at Chuan Cai Securities, said that the darkest time for oil service companies has passed. Most oil service companies achieved revenue and net profit growth in the first quarter, and orders increased by a certain percentage. It is expected that a certain percentage of companies in the 2017 interim report and annual report will realize a turnaround. Oil and gas field engineering construction companies have benefited more from oil and gas reform this year. After the construction of oil and gas projects are subject ST Oilers, Offshore Oil Engineering, Hui-Bopp 002,554, buy, Bo Maike 603,727, buy, etc., need oil prices of more than breakeven price belongs, oilfield engineering services to oil and gas fields with new or expanded Construction during the same period.
Long-term oversold is also a big push for rebound. The CITIC Petroleum and Petrochemical Industry Index fell 9.88% from the low of April 10 to May 11, and the cumulative decline of the Shanghai Composite Index during the period was 6.85%. The daily limit yesterday COSL 601808, buy fallen 18.27 percent over the same period, recorded 14 K line Lianyin had a record period. The offshore oil project fell even more sharply during the same period, at 21.44%. After a big drop in the short-term, it is the main logic for the rebound of the sector, which is boosted by good news.
Cao Ling, an analyst at Huachuang Securities, pointed out that the marketization of the oil and gas system reform plan is the general direction, gradually liberalizing the competitive business, breaking the monopoly and strengthening the scientific supervision of the natural monopoly. As the depth and breadth of this oil and gas reform is still unknown, it is expected that “stable progress†is more of a thematic opportunity. It is recommended to focus on four main lines: First, the state-owned and private petrochemical industry chain: excess refining, increased competition, and integration The benefits of chemical enterprises; private enterprises enter the refining and chemical industry, extend the industrial chain, solve the problem of raw materials in the upstream of chemical fiber, and become bigger and stronger. Second, the natural gas industry chain: “stable oil and gasâ€, 13th five key development, upstream resources, midstream LNG receiving stations, downstream terminal sales channel companies will benefit; third, oil and gas infrastructure investment increased significantly; fourth, state-owned enterprise reform, Mixed change. (China Securities Journal, China Securities Network)
5, communications industry topics: projection chip industry chain mature projection market accelerated explosion
The LED/laser projection TV industry is becoming an important development opportunity:
LED/laser projection TV products are in line with the important trend requirements of the era for large-screen, high-definition, ubiquitous viewing experience, and have greatly improved the relative projection products compared with the original projection products. The shortcomings have strong competitiveness in the context of the rapid rise of the video business. In summary, the projection device, as the carrier of the large-scale entertainment screen of the family, has a comprehensive competitive advantage, love base, net worth, and information.
The projection product industry chain is very important, and the projection chip belongs to the core components: the whole new generation of projection equipment is roughly divided into projection light machine, projector main control device, lens and projection surface. The projector optical machine is responsible for light processing, the main control device is roughly equivalent to the OTT box, responsible for electrical signal processing, the lens is responsible for projecting light onto the projection surface, and the projection surface is responsible for finally showing to the audience. Among them, the projection light machine is the core part of the whole projection equipment, which is the most worthy of attention.
There are three mainstream solutions for projection chips. The DLP solution has basically won the de facto standard: now mainstream smart projector products are classified into three categories according to technology: 3LCD, LCOS, and DLP. The DLP solution is based on the mechanical reflective array solution of TI's DLP chip. The DLP solution has a large advantage in terms of technical capability and cost performance. Together with the successful marketing, it has won the support of most manufacturers in the industry chain. We judge that the future projection technology solution will become a unique situation for DLP solutions. At present, DLP core technology is in the hands of TI, and DLP will bring huge profits to TI in the future. But as the lucrative profits will attract more semiconductor companies into the DLP field, more competitors will enter the DLP field, also benefiting from the rapid development of the industry.
Investment suggestion: We recommend to pay attention to the investment opportunities of LED/laser TV upstream and downstream industry chain, first sort out the relevant A-share targets: LED/laser TV machine, pay attention to Hisense Electric 600060, buy , Sichuan Changhong 600839, buy , Haier Electric , Diwei video 300167, buy ; LED / laser TV screen, tracking attention to industry progress; LED / laser TV optical machine, concerned about Hisense Electric, Crystal Optoelectronics 002273, buy , Lida Optoelectronics 002189, buy ; (short focus) Lens, pay attention to Phoenix Optical 600071, buy , crystal optoelectronics, Lida Optoelectronics; LED / laser TV master control system, pay attention to Quan Zhi Technology 300458, buy , Beijing Junzheng 300223, buy ; LED / laser TV light source, focus on Rui Feng Optoelectronics 300241, bUY, country star power 002,449, to buy; audio, 3D eye accessories, Bluetooth speakers: focus on Technology 002 681 Fen, buy, Cruiser 002,351, buy, Hong Knight 300061, bUY, GoerTek Share 002241, BUY , Foshan Plastics, Shentian Ma A 000050, BUY , Shenzhen Textile A 000045, BUY , ultrasonic electronics 000923, BUY , Changjiang Communication 600345, BUY . For the LED/laser TV core technology component DLP chip, currently only owned by American TI company, we believe that the LED/laser TV market will form a strong support for TI's profit level, and it is recommended to pay attention to the company.
Risk warning: 1. The TV industry has undergone revolutionary development, and the demand for LED/laser projection products has fallen short of expectations. 2. The promotion of technology upgrades and cost control by major suppliers has fallen short of expectations, resulting in a decline in product appeal and market developments that are less than expected. 3. The upstream components of the industry are insufficiently supplied or the cost is rising. For example, TI's DLP chip production capacity is insufficient. 4. The rapid development of the market has led to strong competition, and the price war has advanced in advance, resulting in a decline in the overall gross profit margin of the industry. Soochow Securities 601,555, Xu buying power)
6, computer industry weekly report: information security welcomes the theme market
Investment perspective:
1. Recently, the “Eternal Blue†theme cyber security incident occurred. It is recommended to actively pay attention to the information security quality enterprise NSFOCUS 300369, Buy , Venus Star 002439, Buy , Meiya Baike 300188, Buy , Beixinyuan 300352, buy Into , Renzixing 300311, buy , Nanyang shares 002212, buy ; independent controllable manufacturers Taiji shares 002368, buy , China Great Wall 000066, buy , Inspur information 000977, buy , China software 600536, buy . For details, please refer to our review report, "The Blue of Eternity" is expected to continue to improve, focusing on information security and self-control.
2. At the current point of view, the overall bubble in the computer industry is still not over, but it has entered the second half. We have been emphasizing the three-dimensional stock picking strategy since this year. 1) The financial indicator dimension, the recent preferred low valuation white horse Shares, paying attention to PEG values, the 2016 annual report has a good static growth, and the leading companies in the industry with strong certainty in 2017 performance. 2) The theme investment dimension, we believe that the theme throughout the year is also three lines, including “pan-safe†(covering autonomous control, security, information security, identity authentication), artificial intelligence (focus on the cognitive intelligence layer for cognitive intelligence evolution) Investment opportunities at different points in the process), consumer finance based on big data. 3) The new stock dimension, preferring unique scarce sub-new stocks, does not have to wait for an absolute low valuation.
Key stocks:
It is recommended to focus on Xinbeiyang 002376, Buy , Duolun Technology 603528, Buy , Neusoft Group 600718, Buy , Taiji, China Great Wall, Tuolsi 300229, Buy , UFIDA Network 600588, Buy , Science and Technology News 002230 , Buy , China Information 000555, Buy , Dongfang Guoxin 300166, Buy , 4D Tuxin 002405, Buy , Sichuan Dazhisheng 002253, Buy , Aerospace Information 600271, Buy , Hang Seng Electronics, Straight Flush 300033, Buy , Yinzhijie 300085, buy , Guanglianda 002410, buy , Guangdian Express 002152, buy , Baoxin software 600845, buy , Sanlian Hongpu 300384, buy , Philips letter 300287, buy , soft control shares 002073 , Buy , think of medical benefits 300078, buy , Yihua recorded 300212, buy , Zhongke Chuangda 300496, buy , NSFOCUS, Venus Chen, Dongfangtong 300379, buy , North Xinyuan and other companies.
Third, risk tips
1. Risk of failure of mergers and acquisitions; 2. Relatively intensive risk of late release of shares. (BOC International Wu Jingjing Song Bin)
7. The “Belt and Road†countries and regions will establish a tourism cooperation community to drive tourism consumption.
On May 18, the National Tourism Administration and the Sichuan Provincial People's Government jointly announced that with the approval of the State Council, the 22nd General Assembly of the United Nations World Tourism Organization (UNWTO) will be held in Chengdu, Sichuan Province from September 11 to 16. During the conference, the National Tourism Administration will jointly organize a round-table meeting of the “Belt and Road†National Tourism Ministers with the United Nations World Tourism Organization, and advocate the establishment of a “One Belt, One Road†national and regional tourism cooperation community.
It is reported that during the conference, the relevant tourism ministers of the participating countries will express their opinions on deepening the tourism cooperation of the Silk Road and adopt the proposal of establishing a “One Belt, One Road†national and regional tourism cooperation community. The participating parties will discuss jointly to build the Silk Road tourism brand, develop multi-station multi-station tourism products, enrich the supply of Silk Road tourism products; strengthen market cooperation, promote market exchange and mutual source exchange; realize information sharing and increase tourism statistics. Cooperation in the field; simplifying the tourist visa policy and improving the level of facilitation.
A spokesperson for the National Tourism Administration said that since the "One Belt, One Road" initiative was launched, the tourism sector and the industry have achieved positive results in promoting the development of the "Belt and Road" tourism industry.
First of all, in the top-level design, the "Silk Road Economic Belt and the 21st Century Maritime Silk Road Cooperation Development Strategic Plan" was formulated to determine the three-year action plan for 2015-2018. The "13th Five-Year Plan for Tourism Development" released last year further clarified the development path and development goals of the "One Belt, One Road" tourism industry in the next five years.
Second, in terms of cooperation mechanism, a series of dual-multilateral tourism cooperation mechanisms such as China-ASEAN have been established, and the first China-ASEAN tourism sector meeting has been held to provide mechanism guarantee for deepening the tourism “Belt and Road†work.
Thirdly, in terms of market development, for the third consecutive year, with the theme of “Beautiful China – Silk Road Tourism Yearâ€, a series of publicity and promotion activities have been carried out around the world, and the influence of the Silk Road tourism brand has been greatly improved.
Fourth, in terms of interconnection, with navigation as the entry point, I opened direct flights with countries in Central and Eastern Europe, and coordinated the relevant aspects to continue to simplify the visa policy.
At present, China's tourism exchanges with the countries along the “Belt and Road†are increasingly close. According to estimates, the two-way tourism exchange between China and the countries along the “Belt and Road†has exceeded 25 million. China has become an important source market for many countries and regions along the “Belt and Roadâ€. With the deepening of tourism cooperation, the scale of tourism exchange Will grow further. It is expected that during the "13th Five-Year Plan" period, China will attract 85 million international tourists from countries and regions along the "Belt and Road" to travel to China, driving tourism consumption by about 110 billion US dollars. (Economic Information Daily)
8. Machinery Industry Weekly: Continue to recommend high-specificity electronic equipment industry
We continue to recommend electronic special equipment sections based on semiconductor equipment and panel production equipment, emphasizing the investment logic of downstream industry transfer and localization replacement. In addition, we recommend focusing on the engineering machinery leader Sany Heavy Industry 600031, Buying , operating performance turning point of Meiya Optoelectronics 002690, Buying , Chutian Technology 300358, Buying , Zhejiang Dingli 603338, which has not yet fully reflected the capital investment expectation, buy , Connaught underestimate the value of 603,611 shares, buy other high-quality growth stocks. Recommended attention combination: Changchuan Technology 300604, buy , fine electronic 300567, buy , Led equipment 300545, buy , Sany Heavy Industry, Meiya Optoelectronics, Chutian Technology, Zhejiang Dingli, Nuoli shares, AVIC 002179, Buy , Longma sanitation 603686, buy , Jerry shares, Qi Zhi electromechanical 300503, buy .
Mechanical segmentation industry perspective:
Electronic special equipment: The downstream industry has a high degree of prosperity and a large space for localization of equipment. The localization rate of semiconductor and panel equipment is low, and there is a large room for growth. We reaffirm the investment logic of downstream industry transfer and localization substitution, recommend stocks with strong R&D capabilities, large market space, and take the lead in benefiting the industry: Changchuan Technology, Precision Electronics and Liande Equipment, Focus on Xingyun Shares 300648, Buy pilot smart 300450, buy, ho Chi mechanical and electrical, crack 603,203 shares, buying, Asian Sky integrated 603,929, to buy and so on.
Oil service industry: The probability of crude oil inventories continues to decline, supporting the upward fluctuation of oil prices. EIA announced that US crude oil inventories fell by 5.247 million last week, which has been reduced for five consecutive weeks; OECD commercial crude oil inventories continued to decline since the second half of the year. The delayed production of OPEC and the seasonal warming of demand in the second half of the year have supported the rise in oil prices. We believe that the oil price will have more upward momentum from the end of May, and the deep-adjusted Jerry and CNOOC-based leaders will have more investment value.
Construction Machinery: Looking forward to the second quarter results continue to exceed expectations. Since the adjustment in 2012, the signs of warming back and forth in the second half of the year have shown a trend of increasing quarter by quarter. Sany Heavy Industry reported a net profit of 700 million yuan in the first quarter, Xugong Machinery 000425, and bought net profit of 200 million yuan, basically in line with market expectations. Although some equipment has already ushered in the highest peak in the whole year in April, it is expected that the sales volume of construction machinery such as excavators will continue to increase year-on-year in the second quarter, and the decrease in the cost side will be beneficial to the release of profits. The core recommended Sany Heavy Industry.
Rail transit industry: The performance pressure in the first half of the year is large, and it is expected to bottom out in the second half of the year. We judge that the mid-to-late period of the “Thirteenth Five-Year Plan†is the period in which the overall performance of the sector broke out, and 17 years is the key excessive year. In the first half of the year, it continued to continue its 16-year low growth trend, and it is expected to bottom out in the second half. We favor high-quality faucet Ding Han Technology 300011, BUY, Connie electromechanical 603,111, to buy and so on.
High-quality growth stocks: It is recommended to focus on high-growth Zhejiang Dingli, Chutian Technology, Nuoli Shares, Meiya Optoelectronics, Longma Sanitation, Yizhi Mi 300415, Buy , AVIC Optoelectronics.
Key companies recommend opinions:
Changchuan Technology (300604)--focus on semiconductor testing equipment, with long-term growth potential: the company focuses on the field of semiconductor testing equipment, mainly producing test machines and sorting machines. In the future, the company will mainly benefit from the transfer of the downstream semiconductor industry to the mainland and the localization of semiconductor equipment. In 2016, China's semiconductor equipment market reached 44.5 billion yuan, and the market for test equipment was estimated to be about 4 billion to 5 billion yuan. The company operates light assets and has strong profitability.
Precision Electronics (300567)--High-growth panel inspection faucet, the company's main flat panel display inspection equipment and system products, around a series of technologies around optical inspection, automation control and signal detection (light, machine, electricity) technology The research has reached the international advanced level; its research and development expenses account for 20% of the revenue. The company has been growing at a high level: the company's manufacturing and R&D capabilities are leading domestically, and its revenue and net profit have grown at a rapid rate in the past five years. In the detection system market of Module process, the company has a great advantage compared with foreign products. In the future, it will continue to import and replace the detection system of Cell and Array process (instead of the testing equipment of Japan and South Korea).
United Equipment (300545) - the company's fundamentals are good, the orders in hand are abundant, new products, new customers, new business are working together. The product line extends up and across the field, opening up the growth space. The market in the bonding industry is relatively mature and the market scale has ceilings. The front process equipment of the panel has large space and the localization rate is low. The market for special equipment in the semiconductor industry is more than 40 billion US dollars, but the technical difficulty is higher. The company's business objectives and development path are clear: (1) Cross-disciplinary expansion: R&D institutions established in Japan have plans to move forward to process equipment, and vigorously develop other electronic special equipment businesses, such as semiconductor industry-specific equipment business. (2) Product innovation and research and development: establish a joint research and development and tracking mechanism relationship with domestic leading enterprises of downstream display modules and touch screens, and increase research and development of AOI testing equipment, laser cutting equipment, 3D bonding equipment, and application based on OLED new display technology. Bind and fit the strength of new products such as devices. (BOC International Yang Shaohui)
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