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Jinyuan Securities Building

Recently, the Several Opinions of the CPC Central Committee and the State Council on Actively Developing Modern Agriculture and Firmly Promoting the Construction of a New Socialist Countryside was officially issued. This 2007 No. 1 Document of the CPC Central Committee again focuses on the "three rural issues".

On the whole, this year's No. 1 Document can be seen as an extension and expansion of the No. 1 Document of 2006, and carrying out modern agriculture has become the primary task of the new rural construction. It should be said that the introduction of supportive policies will have a positive impact on relevant listed companies.

While continuing the basic ideas of 2006, the policies in the No. 1 Document this year have also been innovated to a certain extent, and the development of modern agriculture has been put on the agenda. Specifically, it can be analyzed from two aspects: first, accelerate the formulation of the overall reform plan of rural finance, and guide financial institutions to increase credit to "agriculture, rural areas and farmers". Improving the rural financial system will contribute to the rapid growth of agricultural enterprises, optimize the entire agricultural industry chain, and integrate the resource allocation within the agricultural industry chain. Therefore, increasing the integration of agricultural support funds may provide more powerful capital guarantee for the growth of many agricultural production enterprises; Second, establish an agricultural risk prevention mechanism, which will provide a better guarantee for the risk control of agricultural enterprises. Compared with industry, agricultural production is more vulnerable to natural disasters. The bird flu and foot and mouth disease in 2006 caused huge losses to some agricultural listed enterprises, while severe drought and floods and other weather factors often have an incalculable impact on food production. The promotion and trial use of agricultural insurance will, to a certain extent, enhance the anti risk ability of enterprises, especially the improvement of the transfer and allocation mechanism of agricultural catastrophe risk. The effect may be more obvious.

For agricultural stocks, the positive effects of the Opinions on traditional policy support and government subsidies still exist, which is also the main reason for the changes of many agricultural stocks in Tuesday's session. Through in-depth analysis, we believe that three types of agricultural listed companies may benefit more. First of all, financial institutions have increased their credit supply to "agriculture, rural areas and farmers", and listed agricultural enterprises with insufficient funds may usher in spring. Recently Guannong Shares Agricultural stocks represented by, rose strongly, which has been reflected in the market. In addition, companies with high added value such as agricultural processing will have greater investment opportunities; Second, the establishment of the agricultural risk prevention mechanism has provided protection for some agricultural enterprises that were often affected by disasters in the past years. There is no doubt that the development space of agricultural insurance enterprises will be very broad. Water fisheries The Huanong Property and Casualty Insurance Company launched and established will bring good returns to it; Third, the animal epidemic will also bring opportunities to some vaccine companies. Some enterprises developing vaccines, such as China Animal Husbandry Co., Ltd And has the foundation for continuous strengthening.