Our reporter Zhao Ziqiang Yao Yao Xu Yiming trainee reporter Ren Shibi Chu Lijun

　　Editor's note: This week, the three major indexes of the A-share market continued to organize, and the market remained sluggish.

On April 15, the central bank decided to reduce the deposit reserve ratio of financial institutions by 0.25 percentage points on April 25, 2022 (excluding financial institutions that have implemented a 5% deposit reserve ratio).

Analysts said that with the increase in market liquidity, A-shares are expected to usher in a shock recovery trend, and industries and companies with strong performance certainty are sought after to form a performance wave.

As a result, "Securities Daily" analyzed and sorted out the profit data and industries of 1,782 companies that have disclosed their 2021 annual reports, and found that the four industries, including transportation, petroleum and petrochemicals, textiles and apparel, and basic industries, have the highest growth in net profit attributable to the parent company. .

Today, we will interpret the above industries for readers.

　　Petrochemical:

　　The total net profit attributable to the parent company of 19 companies

　　A year-on-year increase of 161.18%

　　Flush data shows that as of April 15, a total of 19 companies in the petroleum and petrochemical industry have disclosed their 2021 annual reports, with a total net profit attributable to the parent of 188.553 billion yuan, a year-on-year increase of 161.18% based on comparable data, ranking first in the Shenwan first-tier industry. Second place.

　　In terms of profitability, the net profit attributable to the parent company of three companies including PetroChina, Sinopec, and Hengli Petrochemical all exceeded 15.5 billion yuan.

Among them, the net profit attributable to the parent company of PetroChina reached 92.161 billion yuan, temporarily ranking first.

　　Among the 19 companies, 14 companies achieved a year-on-year increase in net profit attributable to the parent company, accounting for 73.68%.

Among them, nine companies, including Maohua Shihua, PetroChina, and Yuxin Co., Ltd., doubled their net profit attributable to their parent companies, and two companies, Bomaike and Hengli Petrochemical, achieved a year-on-year increase of more than 15%.

　　Under the support of performance, the share prices of most companies rose.

As of April 15, the stock prices of Yuxin, Hengli Petrochemical, Guanghui Energy, and ST Haiyue have risen by more than 5% in the month.

The stock prices of Huajin and COOEC rose by more than 1% in the month, and the stock prices of Sinopec, Petrochemical Oil Services, and PetroChina all rose by less than 1% in the month.

　　Wang Zhe, an analyst at CITIC Securities, said that 2022 will be a year for the transformation of the global energy structure and the continuous deepening of China's "dual carbon" goal.

The energy and chemical industry is also facing challenges and opportunities under the current complex environment of repeated global epidemics, increased expectations of tightening overseas liquidity, and continued rise in crude oil prices.

　　Chen Shuxian, an analyst at Cinda Securities, said that under the guidance of the "14th Five-Year Plan" petrochemical industry plan and the "two-carbon" goal, the general direction of structural integration, transformation and upgrading of the petrochemical industry will remain unchanged, and the pace of energy transformation and substitution will be accelerated. The leading effect of refining and chemical integration enterprises with advantages such as process industry chain, scale effect, high utilization rate of raw material oil, and diversified products is prominent, and oil reduction and increase, raw material lighter, and self-produced energy are clean in the future. the main direction of development.

Optimistic about low-valued leading companies to actively explore new opportunities and open up market growth space.

Recommended related listed companies: Rongsheng Petrochemical, Hengli Petrochemical, etc.

　　In addition to the above-mentioned two stocks recommended by Cinda Securities, in the past 30 days, COSL, Sinopec, PetroChina, Shanghai Petrochemical, Guanghui Energy, Petrochemical Oil Services, COOEC and other stocks have been given "buy" or "buy" by institutions. "Overweight" and other optimistic ratings, the market outlook is worthy of attention.

　　Basic chemical:

　　The total net profit attributable to the parent company of 152 companies

　　A year-on-year increase of 146.05%

　　Flush data shows that as of April 15, a total of 152 companies in the basic chemical industry have disclosed their 2021 annual reports, with a total net profit attributable to the parent of 131.72 billion yuan, a year-on-year increase of 146.05% based on comparable data, ranking in the first-class industry of Shenwan fourth place.

Looking at the secondary sub-sectors of Shenwan under the basic chemical industry, the growth rate of net profit attributable to the parent company of the chemical raw material sector, chemical fiber sector and agrochemical products sector ranks among the top three year-on-year growth rates, respectively 273.41%, 216.03%, and 152.21%.

　　From the company's point of view, 10 companies including Hebang Bio (7284.28%), Yuanxing Energy (7171.11%), Yida (3496.26%), Polyfluoride (2490.80%), Jinrui Mining (2060.83%), etc. The net profit attributable to the parent company in 2021 will increase by more than 1000% year-on-year. In addition, there are 45 companies whose net profit attributable to the parent company will increase by more than 100% year-on-year in 2021.

　　Long Hao, chairman of Jinding Assets, told the "Securities Daily" reporter: "The sharp increase in the net profit of the basic chemical industry in 2021 is mainly due to the increase in the price of chemical products, but also with the loose monetary policies implemented by various countries and the global competitive advantage of China's manufacturing industry. Especially in the context of carbon neutrality policies, emission reduction measures such as 'restricting production on behalf of others' and 'load reduction' have led to a mismatch between supply and demand in the industry under the dual control of energy consumption, and the prices of some basic chemical products have continued to remain high. As a result, the company’s performance has improved significantly.”

　　Ma Cheng, chairman of Juze Investment, told reporters: "From the perspective of phosphorus chemical companies that have disclosed their performance, the explosive growth of the downstream industry's demand for lithium iron phosphate directly drives the prosperity of 'phosphate rock-yellow phosphorus-phosphoric acid-iron phosphate'. , the entire phosphorus chemical industry chain has obvious resonance, especially the performance of upstream enterprises has increased significantly."

　　In terms of market conditions, since April, as of April 15, the Shanghai Stock Exchange Index has fallen by 1.26% during the period, and among the basic chemical stocks that have announced their 2021 annual performance reports, 48 ​​stocks have outperformed the Shanghai Stock Exchange Index.

Among them, Shuanghuan Technology and Shandong Haihua increased by more than 20% during the period, 22.67% and 20.82% respectively.

　　Companies in the basic chemical industry have also become the targets of positions held by major institutions.

Statistics found that among the basic chemical industry companies that have announced their 2021 annual performance reports, as of the end of 2021, 52 companies, including Satellite Chemical, Shuangxing New Materials, Shandong Haihua, Hualu Hengsheng, and Ruifeng New Materials, etc. Four major institutions, including social security funds, pension funds, insurance funds and QFII, appear in the list of the top ten shareholders of tradable shares, which have become important targets for institutional layout.

　　Textile apparel:

　　The total net profit attributable to the parent company of 18 companies

　　A year-on-year increase of 156.32%

　　Flush data shows that as of April 15, 18 listed companies in the textile and apparel industry have disclosed their 2021 annual reports. The 18 companies have achieved a total net profit of 7.21 billion yuan attributable to the parent, and a total of 2.813 billion yuan in 2020. A year-on-year increase of 156.32%.

Among them, 14 textile and apparel companies achieved a year-on-year increase in net profit attributable to the parent in 2021, accounting for nearly 80%.

　　In the face of the profit growth of the textile and apparel industry last year, CICC said that the global textile supply capacity is in short supply, the textile manufacturing industry has abundant orders, and the implementation of commodity tariff exemptions has enhanced the efficiency of order receiving.

Since the second half of 2020, the global epidemic has stabilized, clothing consumption has recovered steadily, orders in the textile manufacturing industry have grown rapidly, and industry exports have continued to increase steadily.

In addition, the US Trade Office recently re-exempted 352 product tariffs (including knitted clothing accessories and other categories), which is objectively conducive to the improvement of order efficiency and production profitability of textile manufacturing companies with domestic production capacity layout.

　　In terms of companies, excluding companies that turned losses in 2021, the net profit attributable to the parent company of 8 companies in 2021 increased by more than 20% year-on-year. During the reporting period, Fuchun Dyeing and Weaving achieved a net profit attributable to the parent company that doubled year-on-year to 105.39%, Semir Clothing, During the reporting period, Nanshan Zhishang, Mugaodi and other three companies also achieved a year-on-year increase of more than 50% in net profit attributable to the parent.

　　With the steady growth of textile and apparel exports, the industry's prosperity has gradually increased.

According to data released by the General Administration of Customs on April 13, my country's exports of textile yarns, fabrics and products in the first quarter of 2022 were 36.5659 billion US dollars, a year-on-year increase of 15.1%, while in the first quarter of 2021, my country's exports of textile yarns, fabrics and products were 31.7819 billion US dollars In the first quarter of 2022, my country's export of clothing and clothing accessories was 35.6849 billion US dollars, a year-on-year increase of 7.4%.

　　In this regard, Deng Lijun, chief strategist of Northeast Securities interviewed by reporters, said that there are two reasons for the return of orders in the textile and garment industry in 2021: on the one hand, Southeast Asia is affected by the epidemic and there are problems in the supply chain. The Philippines transferred to China; on the other hand, compared with Southeast Asia, my country's textile enterprises have obvious advantages in design, equipment and supply chain, as well as supporting infrastructure such as logistics and electricity.

In the short term, the export of my country's textile and garment industry has been greatly affected by the international and domestic epidemic, and the end point is whose supply chain is more stable.

In the medium term, my country's textile and garment industry design, equipment upgrades, infrastructure guarantees, and the integration and layout of upstream and downstream industrial chains are still the advantages that Southeast Asia is difficult to catch up with.

"

　　In terms of market performance, since April, the textile and apparel industry index has fallen by 4.1%, underperforming the Shanghai Composite Index (down 1.26% in the month).

Despite this, there were still 7 stocks with a year-on-year increase in net profit attributable to the parent last year, and their stock prices rose.

　　Regarding the investment opportunities in the textile and apparel industry, Liu Wenting, a researcher at PEOPLE, told reporters: "I am relatively optimistic about the investment opportunities in the textile and apparel sector: First, the textile and apparel sector has a high dividend yield. In the current environment where market investment is prudent, high dividends The margin of safety brought by the rate makes the undervalued textile and apparel sector more attractive; secondly, under the influence of industry events, domestic apparel brands have ushered in a good opportunity to rise, and major domestic apparel brands have launched marketing efforts, brand influence The market share of domestic clothing brands is expected to increase; thirdly, the frequent occurrence of the epidemic since March has also affected the terminal consumption of clothing to a certain extent. With the gradual improvement of the epidemic and seasonal factors, it is expected to drive the clothing market demand. ."

　　Transportation:

　　The total net profit attributable to the parent company of 69 companies

　　Year-on-year increase of more than 2 times

　　Flush data shows that as of April 15, 1,782 listed companies in the A-share market have disclosed their 2021 annual reports. Among them, 69 companies in the transportation industry have disclosed their annual reports, and the total net profit attributable to the parent in 2021 will be 131.502 billion. In 2020, the total net profit attributable to the parent company was 40.503 billion yuan, a year-on-year increase of 224.67%, temporarily ranking first in the first-tier Shenwan industry in terms of year-on-year growth rate of net profit attributable to the parent company last year.

　　Further review found that among the above 69 companies, 49 achieved a year-on-year increase in net profit attributable to the parent company last year, accounting for more than 70% of the total. Among them, CSC Phoenix (813.52%), COSCO Shipping Holdings (799.52%), Eternal Asia (310.29%) ) and other three companies last year, the net profit attributable to the parent increased by more than 3 times year-on-year.

　　In terms of policy, the transportation industry also ushered in good news.

Recently, the Ministry of Transport, the National Railway Administration, the Civil Aviation Administration of China, the State Post Bureau, and China National Railway Group Co., Ltd. jointly issued the "Implementation Opinions on Accelerating the High-quality Development of Cold Chain Logistics Transportation", which mentioned that it is necessary to optimize the hub port. The layout of cold chain facilities in the station, the improvement of the network of production and sales cold chain transportation facilities, the promotion and application of intelligent temperature control facilities and equipment, and the innovation of cold chain transportation organization models, etc.

　　Under the multiple positive news, the transportation industry strengthened.

Since April, the transportation industry index has risen by 3.43% during the period, significantly outperforming the Shanghai Composite Index during the same period (down 1.26% during the period). There are 37 stocks in the industry with a year-on-year increase in net profit attributable to the parent last year. The three stocks including Hong Kong Group and China Merchants Steamship increased by more than 13% during the period, showing strong performance.

Since April, 12 of the 49 blue-chip stocks have received northbound funds to increase their positions, with a total of 45.7856 million shares. Tangshan Port and Shandong Expressway topped the list with northbound funds, 14.8721 million shares and 12.6866 million shares respectively. million shares.

　　In an interview with a reporter from "Securities Daily", Anjue Asset Chairman Liu Yan said that the transportation industry has not only been supported by growth performance, but also has expectations for rising transportation demand after the epidemic is lifted, so its performance in the market has been relatively good.

　　Regarding investment opportunities in the transportation industry, Zhu Xiaoyan, a senior researcher at the Equity Department of Yuanrong Investment, told reporters that the current industry investment opportunities are mainly concentrated in the aviation sector, which has certain expectations of reversal of difficulties.

For airlines, the epidemic control will always come to an end, and the travel demand that has been suppressed for a long time in the future will explode in a concentrated manner, and it is expected that the performance will be more flexible.

　　CICC said that investors are advised to focus on four major categories of opportunities: first, opportunities for post-epidemic repair and supply and demand improvement in the aviation and airport sector; second, the express delivery sector, with the continuity of regulatory policies and improvement of the pattern, has strong certainty of performance growth; The third is the high-growth stocks that subdivide the logistics track; the fourth is the future of Internet logistics or the return of valuation after the implementation of platform regulatory policy risks.

　　Hu Bo, manager of Rongzhi Investment Fund, a subsidiary of private equity Pai Pai.com, told reporters that the logistics sector has strong public utility attributes, the overall valuation is at a reasonable level, and it has certain defensive characteristics. It remains to be seen whether the market in this sector can continue.

(Securities Daily)