Today's Viewpoint
1 Electricity The daily consumption data of the six major power plants fell back, and the growth rate of thermal power generation is likely to decline. It is suggested to focus on thermal power companies with large performance improvement space and high safety margin, as well as hydropower companies with good incoming water to boost profitability. Continue to recommend water and electricity taps Yangtze Power , it is recommended to pay attention to Huaneng International 、 Huadian International 、 SDIC Power and Sichuan Investment Energy Etc.
2 Electronics There are many highlights of three new iPhone products released by Apple, and iPhone XR is expected to become the main force of sales; The appearance and functions of Apple watch have been comprehensively upgraded, which is expected to achieve high growth. Suggested attention Huanxu Electronics 、 Oufei Technology 、 Lixun Precision and Helitai Etc.
three Xincheng Holding The sales scale of the company has increased significantly, and it has rushed to the forefront of the industry. Its revenue indicators are bright, its profitability is strong, its land reserves are substantial, its expansion pace is active, its land acquisition layout is reasonable, and the "1+3" strategic dividend overflows. The performance of the commercial sector is booming, and innovative businesses are emerging in endlessly. It is estimated that the earnings per share in 2018-2020 will be 3.82 yuan/share, 5.55 yuan/share, and 8.05 yuan/share, respectively, which will be recommended for the first time.
The monthly portfolio in September includes:
Beixin Building Materials （000786）、 Renhe Pharmaceutical （000650）、 Goldwind Technology （002202）、 Shuijingfang (600779), Aerospace Appliance (002025) Shaanxi Coal Industry （601225）、 Guizhou Moutai （600519）、 Four dimensional Tuxin （002405）、 Hualu Hengsheng （600426）、 Tongyuan Petroleum （300164）。
The undervalued portfolio includes:
Renhe Pharmaceutical (000650), China Communications Construction (601800), Europe Africa Technology (002456) CRCC (601186)、 Suzhou Keda （603660）、 Daqin Railway (601006), Beixin Building Materials (000786), Swellfun (600779), Siwei Tuxin (002405) Poly Real Estate （600048）。
Cash cow portfolio includes:
Beixin Building Materials (000786), Changchun Gaoxin (000661), Guizhou Maotai (600519) Ping An, China (601318), Changjiang Power (600900), Siwei Tuxin (002405), Poly Real Estate (600048) Zhengye Technology （300410）、 Jerry Shares (002353), Swellfun (600779).
This report is excerpted from the morning meeting research report released on September 14, 2018
Editor in charge: Ding Wen Practicing Certificate No.: S0130511020004
Rating system:
Galaxy Securities Industry Rating System: recommendation, cautious recommendation, neutral and avoidance.
Recommendation: It means that in the next 6 to 12 months, the industry index (or the industry index composed of companies covered by the analyst team) will exceed the average return of the exchange index (or the main index in the market) by 20% or more. The rating is given by analysts.
Caution: The industry index (or the industry index composed of companies covered by the analyst team) exceeds the average return of the exchange index (or the main index in the market). The rating is given by analysts.
Neutral: the average return of the industry index (or the industry index composed of companies covered by the analyst team) is equivalent to that of the exchange index (or the main index in the market). The rating is given by analysts.
Avoidance: The industry index (or the industry index composed of companies covered by the analyst team) is 10% or more lower than the average return of the exchange index (or the main index in the market). The rating is given by analysts.
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