| Thermal power industry |
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| The power industry, which bottomed out earlier in this economic cycle, may be the first to rebound. Although the downstream demand dominated by the secondary industry will continue to shrink, the utilization rate of power generation enterprises and the decline of power generation capacity next year have become a foregone conclusion, the performance of thermal power enterprises is more sensitive to coal prices, and the fall in coal prices is conducive to the recovery of enterprise profitability ［ detailed ］ |
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| Agriculture |
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| The agricultural sector can be called the "star" in the A-share market in 2008. Analysts believe that the industry's net profit in the first three quarters showed a negative growth, while the main reason for the good performance of the secondary market was the rise in agricultural product prices in the first half of the year and the constantly introduced preferential policies for farmers. The investment opportunities of agricultural stocks in 2009 still lie in policy oriented thematic investment ［ detailed ］ |
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| Pharmaceutical industry |
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| The pharmaceutical industry is a typical consumer industry. The new medical reform will further boost medical consumption and promote the industry's continued rapid and healthy development. The pharmaceutical industry is one of the industries with the strongest growth certainty in 2009. Sub industries such as chemical preparations, biological products, and Chinese herbal pieces will maintain rapid growth and become a haven in the economic downturn cycle ［ detailed ］ |
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| Retail industry |
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| Although the growth of retail market will slow down with the decline of consumption growth, stimulating domestic demand is still one of the main directions of national policy support. In 2009, the overall net profit of listed companies will decline by more than 15%, while the retail sector as a whole is still expected to achieve certain performance growth, and the defensive investment value will be reflected ［ detailed ］ |
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| Tourism industry |
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| Under the influence of the spreading global financial crisis, China's tourism industry will face certain pressure in 2009. However, the main body of Chinese tourists is still in the stage of tourism, and the corresponding consumption expenditure of tourism is relatively low. Therefore, analysts believe that the tourism industry is relatively insensitive to factors such as the slowdown of residents' income growth ［ detailed ］ |
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| Telecommunication industry |
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| The telecommunications industry is relatively less affected by the economic crisis. The restructuring of China's telecommunications industry and the issuance of 3G licenses have promoted telecommunications investment, thus benefiting domestic communication equipment manufacturers. At the same time, although the overseas business of communication equipment manufacturers has been impacted to varying degrees, the demand will remain stable. On the whole, in 2009, the industry demand was strong and the performance growth was clear ［ detailed ］ |
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| construction industry |
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| China's infrastructure expansion plan in the next few years will mainly focus on the field of transportation infrastructure construction, which will play an obvious role in driving nearly 20% of the domestic construction market. The growth expectation of the railway construction and highway construction industry is the clearest. In 2009, the growth rate of infrastructure investment in this field is expected to reach 30% - 40%, and the investment scale is expected to hit a record high ［ detailed ］ |
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| Mechanical equipment industry |
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| Looking forward to 2009, the overall downturn of the mechanical equipment industry may still be unavoidable, and the differentiation of various industries will gradually become obvious. However, under the exogenous stimulus of government investment, some sub industries may still flash investment highlights from time to time. The continuous decline in the prices of raw materials such as steel will also reduce the cost pressure ［ detailed ］ |
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| Home appliance industry |
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| The growth rate of household appliances industry in 2009 may be running in a downward channel, but the industry growth trend remains unchanged. CITIC Securities reported that the bottom of the household appliance industry was slightly later than the bottom of GDP (about a quarter). Therefore, with the gradual bottoming out of GDP growth in 2009, the household appliance industry is expected to gradually recover ［ detailed ］ |
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| Coal industry |
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| Looking forward to 2009, the stable release of coal supply and the significant slowdown of demand growth will change the previous pattern of tight supply and demand and shake the foundation of high coal prices. It is expected that the coal price will fall back to the level of mid-2007 in 2009. In the declining channel of coal price, the profit space of coal enterprises will inevitably be squeezed, and the current is not a good time to invest in coal enterprises ［ detailed ］ |
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| Power transmission and transformation equipment industry |
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| The power transmission and transformation equipment industry in 2009 is one of the few industries with certain prospects. The expansion of power grid investment has lengthened the boom cycle of the industry, especially the ultra-high voltage and ultra-high voltage equipment manufacturing enterprises, which will enjoy the excess profits brought by the high boom in the next two years. At the same time, the entry of raw material prices into the downward channel has also reduced the cost pressure of the industry ［ detailed ］ |
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| Steel industry |
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| Despite the new demand generated by the government's investment plan, the steel industry was still in a pattern of oversupply in 2009, and a sharp year-on-year decline in profits was inevitable. The steel sector as a whole lacked trend opportunities. Throughout the year, the substantial impact of infrastructure will gradually emerge in the second half of the year, and the demand for steel will be low from beginning to end ［ detailed ］ |
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| Real estate industry |
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| The industry has slipped into the "deep cold of investment", the capital chain of development enterprises has become more tense, and the investment growth has declined significantly. The real estate policy was timely changed to maintain the necessary growth rate of real estate development investment. The core of the new real estate policy is the monetary and credit policy. The relaxation of currency has reduced the cost of capital for enterprises and provided timely assistance to developers in the tight capital chain ［ detailed ］ |
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| Food and beverage industry |
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| Although the food and beverage industry is affected by the macroeconomic downturn, the upgrading trend of residents' consumption structure has not changed. Urbanization has also stimulated new consumption demand and accelerated consumption maturity; At the same time, the food and beverage industry itself has a large development space, which makes it the first choice for defense in the economic downturn cycle ［ detailed ］ |
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| Cement industry |
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| The coefficient of cement demand driven by the investment of 100 million yuan in infrastructure construction is about 1.76, which is greater than the coefficient of real estate investment of about 1.23. Therefore, in 2009, the investment in infrastructure construction became the main force supporting the demand for cement, and to some extent, it made up for the impact of the decline in real estate and industrial investment. However, due to the increased impact of new supply, the trend of supply exceeding demand in the cement industry cannot be changed ［ detailed ］ |
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| banking |
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| The pressure of narrowing interest margin and deteriorating asset quality will continue throughout 2009. The decline of bank performance is inevitable, and the best investment opportunity in the industry has not yet arrived. The interest margin will be the "key word" of bank profits in 2009. Continued interest rate cuts, new mortgage policies, declining loan bargaining power and deposit periodization will bring about a sharp decline in net interest margin ［ detailed ］ |
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