Power stock market in sight to grasp the 3 major investment line

Every reporter Li since October 28 last year, the market rebounded in 1664 points, in a variety of favorable factors in the resonance, the birth of a large number of shares doubled cattle, but also created such as non-ferrous metals, real estate, mining, such as the overall increase of more than one-fold "star plate".　　However, the industry pointed out that with the early surge of stocks continued to strengthen the risk has gradually accumulated, and the early period of serious stagnation and good fundamentals to support the stock and plate is expected to become the next stage of investment hotspots. But put on "stagnation" according to wind statistics show, from October 28 last year to close in Thursday, in 23 major industries, Non-ferrous metals, real estate, comprehensive category of the three plates respectively to 176.1%, 141.62%, 134.62% of the rise in the range of the top three plate. In addition, 9 industries, such as delivery equipment, have risen by more than 100%.　　In stark contrast to these rallies, the utility sector rose to the bottom of just 51.97% per cent, with the industry's absolute share of the power sector rising only a poor 46.46%, with the undisputed title of the stagflation plate. Citic Securities analyst Yang Zhishan said that in January-February this year, the overall trend of power plate and the market is basically flat, after March with the market strength, marketing funds began to chase coal, non-ferrous Metals, real estate and new energy and other popular industries, resulting in power shares cold, the trend is significantly weaker than the market.　　However, Yang Zhishan optimistic that the large proportion of the power sector has been the overall loss of electricity, some companies to quickly recover profits, asset restructuring surging, I believe that in the next period of time, the overall performance of the industry will be stronger than the big city. A market source said that the serious stagnation of the power unit has been a strong demand for the rise. On June 4, there was a wave of apparent movement in the power sector.　　In the rumors of electricity and water prices up, to the Yangtze River Power (600900, closing price of 13.81 Yuan) as the representative of the sudden start-up of hydropower stocks, in its drive under the Datang power (601991, closing price of 8.05 yuan) and other thermal units also began to exert force on the attack. "The Power Plate is obviously" ammunition ".　　"The above market participants believe that under the influence of rumors of hydropower increase, not only caused by the circulation of the Yangtze River Electricity market value of about 66 billion yuan of water and electricity blue-chip, even unrelated to the thermal power stocks also follow the trend of the rise, can be seen in the electricity stocks have a strong demand, once there is a substantial positive launch, Power shares will be expected to become the new favorite Securities brokers three reasons "bullish" national Yuan Securities analyst Chang said last year, the domestic coal prices soared, the power industry suffered a rare loss of the entire industry, leading to the trend of the power sector continues to slump. But with coal prices falling, the power industry as a whole has changed a lot.　　According to statistics published by the National Bureau of Statistics, the first quarter of this year, the power industry loss of 1.37 billion yuan, April to a single month, 2.19 billion yuan earnings strength. Since there is substantial positive, why is the power unit still unresponsive? Chang said that, on the one hand,The performance of power stocks in the public utility sector is generally lagging; on the other hand, the sudden loss last year left the market with a lingering fear that the Power Plate had become "a forgotten corner" in several plate rotations. However, there are indications that the upturn in the power industry's profitability is becoming clearer. This week, Citic Securities, Bohai Securities and other brokerages announced the second half of the 2009 power industry investment strategy. In the report, each brokerage has expressed the power of the second half of the trend of the plate bullish. Among them, the Bohai Securities analyst also unequivocally pointed out that the Power Plate will be launched in July this year, and cited 3 reasons: First, last year, the collective loss of coal industry, "Coal tiger" has been greatly reduced. Relevant data show that in early June this year, Datong mixed, Shanxi excellent mixed price of 590 yuan/ton, 558 yuan/ton, compared to the middle of July 2008, the highest point fell by about 42.4%, 41.6% respectively.　　On the future trend of coal prices, CITIC Securities analysts believe that the 2009 contract coal prices may be slightly 5%~10% (contract coal prices have historically been significantly lower than the market for coal prices), the scope of the change in the profit margin of the electricity companies. Secondly, with the large-scale production of high energy-consuming industries, the demand for electricity in China has obviously warmed up. According to National Grid data, May national power generation decline continued to narrow.　　As a result of 2008 10 ~ December, the lower the basis for the decline in electricity generation, the industry agreed that the second half of the year, electricity consumption is expected to continue to grow, the July is expected to achieve the first year-on-year positive growth. Finally, China has repeatedly put forward to rationalize the energy price relationship. The reporter learned from the authoritative channel, the National Development and Reform Commission is commissioned the National Water Conservancy and hydropower planning and Design Institute to carry out the same price survey of hydropower, research how to improve the electricity and electricity pricing mechanism.　　and a number of provincial and municipal development and Reform Commission has been in the corresponding jurisdiction of the water, thermal power enterprises, for the same price of hydro-electric network to prepare, hydropower prices in the future to raise expectations. A private-equity official has also expressed approval for the bullish view of the broker. With the continuous upward market, systematic risk accumulation, the early stagnation of the serious power Plate is undoubtedly a piece into the can attack, retreat to keep the valuation of the depression. Once there is substantial positive arrival, the plate is favored by the market funds may be very large.　　At the same time, the person said that the July period of two major events may be the trigger for the promotion of power stocks: one is expected to achieve the first year-on-year growth in nearly a year; second, this year's semi-annual reports are expected to improve the overall performance of the electric enterprise, these substantial benefits will inevitably have a huge impact on the mentality of the capital side. Appropriate grasp of the three major investment main line national Yuan Securities analyst to the "daily economic news" that once the electricity industry rises, it is recommended that investors grasp the three main investment lines: one is the high sensitivity to coal prices, or to benefit from the decline in coal prices of thermal power companies; the other is the company with asset reorganization expectation; Third, the performance is stable,　　Hydropower companies expected to benefit from the adjustment. It is worth focusing on the electricityStrength Stock List Huaneng International (600011, closing price 7.66 yuan) leading enterprises as a leading enterprise of power sector, the company's sensitivity to the changes in coal prices is very high. Because of the 2008 coal price explosion, the company a huge loss of 3.702 billion yuan.　　However, with the fall in coal prices, the company in the first quarter to 500 million yuan net profit strength. BOC International noted that the company had previously announced the acquisition of two profitable power plants in Beijing and Tianjin from its parent company, which would increase its entitlement capacity by about 2.6% per cent by the end of March. In addition, the company plans to expand its installed capacity by 9.5% this year.　　As the utilization rate picks up in 2010 and the coal-electric linkage mechanism improves, asset expansion will bring rewards.　　[Heng Yun A (000531, closing price 12.30 yuan) The cost advantage is very obvious the company is located in the Guangzhou Economic and technological Development zone Western Area Electricity supply enterprise, the existing rights and interests installed capacity 501,000 kilowatts, the company 2008 because of the cost pressure first to appear the loss. Bohai Securities pointed out that the 2009 company and Shenhua, the two major coal enterprises signed a key contract coal agreement, the purchase volume can meet the annual demand of about 90%, the purchase price of the standard coal is about 687 yuan/ton, less than the contract price of coal in 2008.　　In addition, the company has obvious advantages of transport costs, its power plant Linhai and has a coal loading dock, can realize coal "off the boat", compared with other thermal enterprises, cost advantage is obvious. China Silver Power (600744, closing price 5.08 yuan) Asset consolidation plan expires at the end of the month. China Silver Power major shareholder Datang Group has in 2006 the company's share reform commitment, will be implemented in the company's reform within 3 years gradually implement Datang group in Hunan Power assets integration plan,　　actively promote its high-quality power assets in Hunan province gradually injected into the Chinese silver power, in order to reduce the Chinese-silver Power and Datang group competition between the company to enhance the level of China's silver power performance, and the end of this month is the Datang group to fulfill its commitments deadline. At present, the status of China Silver Power management is not optimistic. 2008, the annual loss of Wah Yin power 1.061 billion yuan, the year-on-year decline of up to 2254.26%.　　In the first quarter of this year, the company still has a loss of 152 million yuan, and the debt rate has surged to 87.1%, and the "will" of large shareholder support has been strong. Laurel Power (600236, close to 8.26 yuan) is expected to obtain high-quality hydropower assets June 5, the company announced the use of its own funds and directional additional combination of the way to acquire Datang Group's hydropower company under the 70% stake in the bill, The standard assets evaluation price is 3.64 billion yuan, the total installed capacity of Yantan is 1.21 million-kilowatt, if the acquisition is successfully realized, the Laurel power installed capacity will increase 44%.　　As the plan to pay a large amount of cash, the plan announced after the company's share price fell by about 12%, investment opportunities highlighted. Guotai pointed out that the future electricity price increase expectations higher and is expected to obtain scarce hydropower resources of the stock of hydropower assets, which may be included in the right. The 2009 and 2010 EPs are estimated to be 0.25 yuan and 0.29 yuan respectively, and the target price of 9.6 yuan for the unit is given.