Guotai Junan PPP superimposed rail double burst, boom unprecedented-hamimelon

Guotai Junan: PPP stack rail double outbreak boom [] hitherto unknown industry analysis of new energy vehicles to accelerate to benefit from the policy of subsidy policy to accelerate, Shenzhen, Jiangxi and other places introduced in the near future, the release signal to the whole industry support. At the same time, 2017, measures for the administration of automobile carbon quota will be test run, which forced the traditional car after the development of new energy vehicles, which will significantly exceed market expectations. It is expected that the relevant rules will be introduced in the second half of the year, and the premium will be directly favorable to the new energy vehicle leading and core parts manufacturers. Maintain overweight rating: key recommendation: aotecar (heat pump compressor leading), camel shares (lithium battery production capacity), Zhongtong bus (New Energy Vehicle Logistics Leading), Jianghuai Automobile (new energy vehicle). Benefit: Acer shares (relay (leading), China Aviation optical connector leading). The upper reaches of the downstream industry, non-ferrous Huayou cobalt cooltech power. PPP stack rail double burst, boom of the hitherto unknown 1) rail outbreak has been verified, "the first half of two iron rail orders were increased by 70% and 80%, the industry leader in order to explain the outbreak of the rail industry high heat; 2) such as tunnel shares Hongrun construction Tengda construction of rail orders growth respectively. Up to 30% 132% 191%; 3) PPP as the main mode of rail project: instockroom PPP rail project in June exceeded trillion, accounting for investment in all municipal PPP project 37%, ranking first in the industry segments of municipal government; 4) has been studied in the" Subway + property "PPP mode, if the implementation will greatly promote PPP rail project landing; 5) we suggest that the rail industry is one of the most PPP and garden industry benefit of the industry, suggesting that investors attach importance to the rail industry superimposed PPP double burst investment opportunities. Investment advice: 1) industry chain stock: rail design combination Su cross section design of shares; rail construction: Construction of Tengda tunnel shares Hongrun construction of Guangdong hydropower Shandong Luqiao Shanghai construction Chinese iron Chinese Railway built China; 2) rail market share stock: Chinese iron China railway China recommended to build the tunnel shares Shanghai Construction Engineering; 3) market value and revenue than picking orders orders: recommended the construction of Tengda tunnel shares Hongrun construction; 4) the largest market capitalization ratio and the largest scale leveraging funds leveraging capital scale revenue ratio of stock: Luqiao Chinese to recommend Shandong Hongrun construction Chinese mcc. The above four dimensions: the first rail Three Musketeers (maximum flexibility) Hongrun construction construction of Tengda tunnel shares, pushing the four kings China MCC blue chip China in Shanghai construction Chinese built. The blockchain power of intellectual property services we think nature block chain technology is a distributed network database to the center, is a large-scale writing tool in a completely open, peer-to-peer network conditions based on this. In the block chain development since 7 years, the technology is not only to achieve a leap forward development, its application is very drama expansion, extending from the initial bitcoin to finance, even to each field of the society, the wave of a new round of technological innovation is expected to expand, the prospect of technology of the light chain block. Intellectual property suit.

国泰君安:PPP叠加轨交双爆发,景气度前所未有 【行业分析】新能源汽车受益政策加速推进地补政策加速推进,深圳、江西等地近期出台,释放对整个行业的支持信号。同时,2017年,汽车碳配额管理办法将试运行,这将倒逼传统汽车加力发展新能源汽车,这将显著超出市场的预期。预计下半年相关细则将会不断推出,富余积分溢价直接利好新能源整车龙头和核心零部件厂商。维持行业“增持”评级:重点推荐:奥特佳(热泵压缩机龙头)、骆驼股份(锂电池产能投产)、中通客车(新能源物流车整车龙头)、江淮汽车(新能源物流车)。受益:宏发股份(继电器龙头)、中航光电(连接器龙头)。上游有色华友钴业、下游科泰电源。PPP叠加轨交双爆发,景气度前所未有1)轨交爆发已获验证,“两铁”上半年轨交订单分别同比大增70% 80%,行业引领者订单爆发足以说明轨交行业热度高;2)其他如隧道股份 宏润建设 腾达建设等轨交订单增速分别高达30% 132% 191%;3)PPP成轨交项目主要模式:入库轨交PPP项目6月就已超万亿,占所有市政PPP项目投资金额的37%,在市政细分行业中稳居第一;4)政府已在研究“地铁+物业”PPP模式,若推行将极大促进轨交PPP项目落地;5)我们提示轨交行业是和园林行业一样的PPP最受益的行业之一,提示投资者重视轨交行业叠加PPP双重爆发的投资机会。投资建议:1)产业链选股:轨交设计组合苏交科 设计股份;轨交施工组合:隧道股份 腾达建设 宏润建设 粤水电 山东路桥 上海建工 中国中铁 中国铁建 中国交建;2)轨交市占率选股:推荐中国中铁 中国铁建 中国交建 隧道股份 上海建工;3)订单 市值比及订单 营收比选股:推荐腾达建设 宏润建设 隧道股份;4)最大撬动资金规模 市值比及最大撬动资金规模 营收比选股:推荐山东路桥 中国交建 宏润建设 中国中冶。综合以上四维度:首推轨交三剑客(弹性最大)宏润建设 腾达建设 隧道股份,重推蓝筹四天王中国中冶 中国中铁 上海建工 中国交建。区块链助力知识产权服务我们认为区块链技术的本质是去中心化的分布式网络数据库,是一个基于此实现在完全公开、对等的网络条件下的大规模写作工具。在区块链发展至今的7年时间里,不仅仅是技术实现了飞跃式的发展,其应用领域也极剧扩展,从最初的比特币延伸到金融,甚至到社会各个领域,新一轮的科技创新浪潮有望就此展开,区块链技术前景光明。知识产权服务业跟区块链的结合是天作之合,区块链技术的引入不仅仅解决了目前服务行业痛点问题,还为行业发展提供极大助力。首先,从确权环节来看,区块链是集体维护,权力确认去掉了政府公证环节,理论上做到了即时确认,大大增加了权力确认效率;其次,从用权环节来看,区块链技术加速权力流通速度,减少中间繁杂环节,迅速匹配供需双方,一举解决变现难题;最后,从维权来看,区块链解决了知识产权产业链冗长杂乱的问题,维权道路通畅,极大提高了维权效率。主题掘金,寻找受益标的,首推光一科技。我们认为以下公司会大幅受益于国内知识产权服务市场的爆发性增长。信息类公司:光一科技(300356)、安妮股份(002235)、美亚柏科(300188);商业化类公司:普莱柯(603566)、捷成股份(300182)等;代理类公司:新诤信(拟IPO)、超凡股份(833183,三板挂牌)等。相关的主题文章: