Road and railway Plate: Industry recovery valuation Depression Save up opportunity

Each reporter Ma Yufei by the economic rebound stimulation, domestic highway railway freight volume gradually rebounded.　　Statistics of the National Bureau of Statistics show that in March this year, the domestic road industry freight volume rose by 10.9% per cent, freight turnover increased by 14.52%, railway freight volume rose 13.25%, the freight turnover increased by 22.31%. Guotai analyst Lin Cun pointed out that the domestic PMI index continued to rise and commercial housing sales area rebounded, such as the recovery of downstream demand, will promote the road and rail industry revival.　　Analysts said that in view of the fundamental improvement, as well as the plate is significantly lower than the average valuation of the market, the road rail plate is expected to usher in the opportunity to rise. Industry fundamentals improved in April, the domestic manufacturing PMI continued to rebound for 5 consecutive months, while in April the PMI index system, including the finished goods inventory index, the raw material inventory index and the supplier distribution time index, declined a certain amount compared with last month.　　A brokerage researcher, who declined to be named, said it reflected a gradual pick-up in the domestic logistics market and positive impact on the road and rail industry.　　Wanguo Zhou Meng that the first quarter of this year, from the chain of data, the volume of vehicles and freight cars ratio of the lowest point in the November 08 is a chain recovery, showing a synchronized with the economic situation. Railway, Zhou Meng pointed out that the national Railway 1 ~ March, the total turnover of goods and passenger traffic growth rate is 4% and 0% respectively, and with the macroeconomic recovery, the volume of railway transport business may be a quarter-on-quarter growth, rising rebound trend.　　At the same time, Zhou Meng also expects the future railway transport prices will rise, in which the benchmark price of passenger transport may be significantly increased, freight prices to maintain the national iron and energy and other operating costs linkage, the annual implementation of the 5~15% about the extent of the increase in freight prices will become a catalyst for the rise of railway shares. Low valuation There is a rise in the opportunity in addition to the fundamentals, in contrast to the current relatively high average price-earnings ratio, the road railway plate due to a small increase in valuation level there is a clear "depression." As of yesterday, the average P/E ratio of listed companies in Shanghai was 22.55 times times, and the average P/E ratio of Shen listed companies was 32.11 times times higher.　　At present, the average P/E ratio of the road plate is 14 times times the historical bottom level, while the stock price of the railway plate is 25 times times, and the valuation is still relatively safe. Shenzhen, a senior private equity manager pointed out that in the Prev run to more than 2,600 points and the recent plate wheel movement in the background, Highway railway as a low valuation of the two cities and has not previously been the market speculation of the plate, there is a strong demand for the rise, the proposal to pay attention to the Jiangxi-Guangdong high-speed, Chu-day high-speed, modern investment, Datong-Qinhuangdao railway, Guang-Shen Railway and so on.　　Reproduced in the media, excerpts of the works published in this newspaper, please indicate from the "daily economic news" and the author's name. Per subscribe telephone Beijing: 010-65072776 Shanghai: 021-61213899 shenzhen: 0755-33203568成: 028-86516389028-86740011