PPP theme materials become market breakthrough point, it is expected to create local craze 天龙八部断魂镖


PPP theme materials become market breakthrough point, is expected to create local craze – A stock market yesterday, Shanghai stock market is more dull, in the catalyst boost, PPP theme can be described as thriving, to maintain the popularity of the market. At present, the catalyst for the PPP sector is not only policy support, gradual maturity of the industrial model, but also the reorganization of China’s building materials and Chinese Sinoma, the reform of state-owned enterprises and the industrial chain after the real estate. The current A stock market to rebound from the shock pattern, early real estate, brokerage and other weight plate fell under the condition of PPP, because the industry chain long enough, the market capacity is large enough, the spread of hot and strong, is seen as a potential brokerage market breakthrough, is expected to support the local manufacturing boom and a new rally. Local building stocks speculation surging yesterday, A stock market has become the theme of the PPP stage, the long-awaited plate seems to usher in an opportunity to accumulate steadily. At the close, 29 CITIC first class industry index, a total of 22 industries rose, of which construction, integration, electricity and utilities sector gainers, rising by 1.31%, 1.02% and 0.9%, respectively. Concept, sewage treatment, garbage power generation, PM2.5 plate gainers, rising 2.95%, 2.88% and 2.70% respectively; at the same time, water conservancy and hydropower, environmental protection concept, sponge city and beautiful China and other sectors of the growth of more than 2%. Individual stocks, the building decoration plate, dry landscape garden, Oriental new star, light group, dragon construction shares, Mongolian grass ecological limit; public utilities sector, the financial environment, Wei Ming environmental limit. In addition, there are more than one stock rose more than 5%. August 26th, China Construction Materials Group Co., Ltd. and China Sinoma Group Co., Ltd. held a reorganization meeting in Beijing, the two companies merged and reorganized, formally established China Building Materials Group Co., ltd.. After the reorganization, China’s building materials group will earn more than 300 billion yuan, with the total assets of more than 550 billion yuan, becoming China’s largest comprehensive building materials industry group, and also the world leader in the field of building materials. As a result of the above amount of group, there are 11 A shares listed companies, the news triggered a huge uproar in the A-share market A. On Monday, however, the restructuring spread further to the building energy conservation sector. As a result, the reorganization, state-owned enterprise reform, energy saving, PPP, the real estate chain, and even steady growth, supply side reform and other hot topics, immediately gathered together. At present, after the A stock market hot spot down, is for the lack of new hot spot and worry, at this time, such a big theme appears, naturally triggered the positive pursuit of funds. PPP theme or for the market breakthrough point, A shares into the shock has been two weeks, the market is also facing the direction of choice, PPP hesitant its unique theme advantages, and is expected to become a rebound breakthrough. On the basis of optimizing the value of the blue chip, the securities firm proposed that both the "stable growth" and "adjustable structure" characteristics of the PPP plate as an elastic variety of market configuration. PPP theme in the near future force, there are many factors boost. According to media reports, since 2016, PPP project demand continues to grow, from the Ministry of Finance 2 Yi

PPP主题料成为行情突破点 有望制造局部热潮-中新网   昨日A股行情较为沉闷,在催化剂助力下,PPP主题可谓一枝独秀,维系了市场人气。当前,PPP板块面临的催化剂不仅有政策上的支持、产业模式上的逐步成熟,还有中国建材和中国中材重组、国企改革以及地产后产业链等。当前A股行情从反弹转为震荡的格局,前期地产、券商等权重板块回落的情况下,PPP由于产业链够长、市场容量够大、热点蔓延性强,被券商看做一个潜在的行情突破点,有望制造局部热潮乃至支撑起新的反弹。   建筑股局部炒作热度高涨   昨日,A股市场成为了PPP主题的舞台,这个酝酿已久的板块似乎迎来厚积薄发的契机。   收盘时,29个中信一级行业指数中,共有22个行业实现上涨,其中,建筑、综合、电力及公用事业板块的涨幅居前,分别上涨1.31%、1.02%和0.9%。概念方面,污水处理、垃圾发电、PM2.5板块涨幅居前,分别上涨2.95%、2.88%和2.70%;同时还有水利水电、环保概念、海绵城市和美丽中国等板块的涨幅均超过2%。   个股方面,建筑装饰板块中,乾景园林、东方新星、光正集团、龙建股份、蒙草生态涨停;公用事业板块中,科融环境、伟明环保涨停。此外还有多只个股涨幅超过5%。   8月26日,中国建筑材料集团有限公司与中国中材集团有限公司在京召开重组大会,两家公司合并重组,正式成立中国建材集团有限公司。重组后的中国建材集团营业收入将超过3000亿元,资产总额超过5500亿元,成为中国最大的综合性建材产业集团,也是世界建材领域的领军企业。由于上述量大集团旗下合计有11家A股上市公司,这一消息引发了A股市场的轩然大波。   不过,本周一重组进一步蔓延到了建筑节能板块。由此一来,重组、国企改革、节能、PPP、后地产链,乃至稳增长、供给侧改革等热门题材,顿时都聚集在了一起。当前,A股市场前期热点回落之后,正为新热点的缺位而发愁,此时这样一个大的题材出现,自然引发了资金的积极追捧。   PPP主题或为行情突破点   A股行情进入震荡之中已有两周,行情也面临方向选择,PPP则犹豫其特殊的题材优势而有望成为反弹突破口。在优选绩优价值的基础上,券商建议将兼具“稳增长”与“调结构”特征的PPP板块作为行情配置的弹性品种。   PPP主题在近期发力,有多方面的因素助推。据媒体报道,2016年以来,PPP项目需求不断增长,从财政部232个两批示范项目来看,截至6月末进入执行阶段的项目数已达到105个,到6月末达48.4%。国泰君安证券认为,一方面,政府面对经济下行和民间投资大幅下滑的困境,基建补短板可能是对冲经济下行风险的重要筹码。另一方面,PPP盈利模式逐渐成熟。上市公司凭借较强的专业能力、金融运作能力和市场开拓能力,尽可能少投入资本金获取更多施工收益,伴随PPP订单爆发驱动业绩爆发,对上市公司的报表业绩和现金流改善的作用非常明显。   兴业证券指出,在当前中国宏观经济初现“流动性陷阱”现象的背景下,货币政策边际效用递减,可以通过财政政策方式,加强政府主导的需求端刺激,帮助经济走出当前困境。财政政策相比货币政策在调结构方面有更大的发挥空间,且我国政府债务水平仍有进一步提升空间。当然,单纯依赖政府资金对经济的刺激可能并不足够,最终还是需要发挥政府资金撬动社会资本的杠杆作用。PPP模式作为国家财政投资重要改革方向,势必随财政投资落实而实现加速。在未来财政政策仍将以基建为主要发力点的情况下,基建中实施PPP项目的建筑、环保等行业中的标的将持续受益。   方正证券首席经济学家任泽平指出,为实现稳增长目标,下半年政府可能会逐步加码基建投资,在政府预算空间有限和地方债务高企的情况下,以PPP模式借力民间资本加大基建投资将成为更为现实的选择。   PPP盛宴的后续表现空间仍在。方正证券认为,未来一段时间PPP项目将迎来一轮新的发展。主要基于三个逻辑:一是经济下行有稳增长诉求;二是PPP模式或可激活沉淀的民间投资;三是长端利率持续走低,融资成本的降低提升了基建项目的吸引力。   震荡市看绩优价值股   如果PPP能够接棒热点,那么短线行情似乎又有了新的希望。但中长期震荡格局中投资,最重要的还是基本面过硬,才能经得起震荡考验。   从市场环境来看,一方面,市场监管趋严的风头未变,挤泡沫延续,使得市场资金关注点转向估值与成长性匹配、不断兑现业绩的绩优股和低估值、业绩稳定的价值股。另一方面,在全球总需求疲软、资本过剩、负利率的大环境下,绩优价值股是稀缺的优质资产,美股和新兴市场的资产表现也映射出绩优价值股的配置价值。   实际上,据兴业证券分析,从历史来看,2001-2005年、2008年、2011-2012年三轮熊市中取得正收益的个股主要来自于盈利驱动,对这些正收益个股的PE和EPS进行拆分,PE增速往往为负,主要依靠EPS增长。   短期内,市场风格暂难转向成长股,因为在监管趋严的驱使下,难当领涨大任,这一点从上周的行情中也得到了验证。申万宏源证券高级策略分析师谢伟玉表示,增量资金主要来自于深港通预期带来的外资和打新资金加仓,未来可能加仓的大保险、社保,均偏好低估值、高股息的蓝筹,因而风格仍以蓝筹为主,成长股还需要消化高估值,很难出现系统性行情。   以往谈及绩优价值股,投资者往往想到商贸零售、食品饮料、汽车、医药等板块,以及高股息高分红的传统蓝筹板块。不过,在券商和地产调整的当前,风口上的PPP更为值得关注,涉及建筑、环保、市政园林等。而国泰君安证券认为,考虑到PPP专业能力、金融运作能力和市场开拓能力强的上市公司更能从PPP模式中获益,在此基础上建议重点推荐三大方向:PPP+轨交、PPP+园林、PPP+海绵城市。记者 张怡相关的主题文章: