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Financial Investment News reporter Lin Ke

After a period of turmoil, the Shanghai Composite Index continued to attack and successively stood at the integer mark of 3,300 points and 3,400 points, and the market's money-making effect rose again.

From the perspective of market performance, although in the counteroffensive of the market, some strong industries in the early stage have been divided, but the funds still maintain a high degree of heat. Some analysts pointed out that after the rotation of the plate, the funds are expected to continue to look for trend opportunities in the main track, and it is recommended that investors can pay attention to the low-altitude economy, brokerages and new energy power sectors with the deep layout of funds in the early stage.

Drafting: Qing Zixiu

1. Low-altitude economy: a trillion market to be tapped

Recently, the Ministry of Industry and Information Technology held the first plenary meeting of the leading group for the development of low-altitude industries to study and deploy key tasks to promote the high-quality development of low-altitude industries. The meeting proposed that it is necessary to do a good job in top-level planning and cultivate more low-altitude industry head enterprises and specialized and new "little giant" enterprises. As a typical representative of emerging industries and new quality productivity, many governments attach great importance to the cultivation of low-altitude economic industries, and relevant plans continue to be implemented. Some analysts have pointed out that at present, various localities have issued action plans and plans for low-altitude economic development, while the national-level plans have not yet been released. Next, the national plan is expected to give more specific quantitative indicators from specific development goals, realization paths, technical directions, etc., and give guidance for the industrial layout of low-altitude economic key areas such as Guangdong, Hong Kong, Macao, Chengdu-Chongqing, and the Yangtze River Delta.

In addition, it is reported that the relevant ministries and commissions of the state plan to set up a low-altitude economic management department, which has been approved and is being prepared. It is relatively rare for the state to set up an industrial management unit, which is conducive to solving the situation of multiple management and inefficient management, and its importance can be seen. In the future, the department is expected to promote the integration and innovation of the low-altitude economic field by optimizing the top-level design of the policy, and promote the development of the industry by coordinating the resources of all links.

Low-altitude economy is a comprehensive economic form that includes both traditional general aviation formats and low-altitude production and service modes supported by UAVs, empowered by informatization and digital management technology, and integrated with more economic and social activities. According to the Civil Aviation Administration, by 2025, the low-altitude economic market size will reach 1.5 trillion yuan, and by 2035 is expected to reach 3.5 trillion yuan.

Gong Siwen, an analyst at Guoyuan Securities, said that in terms of infrastructure, it is recommended to pay attention to Shenzhen City Communications, Jiangsu Jiaotong Technology, Huashe Group and Narui Radar; In terms of the whole machine, it is recommended to pay attention to Wanfeng Aowei, EHang Intelligence, and Zongheng Shares; In terms of core components, we pay attention to Zongshen Power, Wolong Electric Drive, Yingliu Co., Ltd., and Yingboer; In terms of air traffic control and operation, we pay attention to CITIC Haizhi, Zhongke Xingtu and Sichuan Jiuzhou.

A selection of potential stocks

Shenzhen City Intersection (301091).

Wanfeng Aowei (002085).

Zongshen Power (001696).

Zhongke Star Map (688568).

2. Brokers: performance growth is expected to further accelerate

In the context of the continued active market, the brokerage sector ushered in a continuous catalyst. From a fundamental point of view, 43 listed securities companies achieved operating income of 136.4 billion yuan in the third quarter, an increase of 21% year-on-year and 6% month-on-month; The net profit attributable to the parent company was 39.5 billion yuan, an increase of 41% year-on-year and 14% month-on-month.

It is worth mentioning that the exchange disclosed that the number of new A-share accounts opened in September and October 2024 will be 183 and 6.85 million respectively, an increase of 83% and 275% month-on-month, and a year-on-year increase of 37% and 484%. Some analysts pointed out that the number of accounts opened in October exceeded expectations, and the popularity was close to the second quarter of 2015, and the disclosure time also exceeded expectations. In the market where individual investors are the core incremental funds, both the trading side and the business side are more favorable to brokers, and the return on net assets of brokerages is expected to exceed that in 2021.

Gao Chao, an analyst at Kaiyuan Securities, said that since October, the market turnover has remained high, and the low base is superimposed, and it is expected that the year-on-year growth rate of the performance of the brokerage in the fourth quarter will be significantly stronger than that in the third quarter. From the perspective of business elasticity, equity proprietary trading with the rise of the market is the first to reflect, the continued high trading volume will drive the brokerage business to increase highly, with the stock market improving, the prosperity of the wealth management business is expected to rebound, the return on net assets of brokerages or continue to rise, the fundamentals are good. At present, the institutional allocation and valuation of the sector are still at a low level, the positive policy of stabilizing growth and stabilizing the stock market is expected to continue, the performance of brokerages is improving, and the preference of individual investors for the brokerage sector continues to be optimistic about opportunities.

In the short term, the trading activity and market prosperity of A-shares remain high, and the fundamental flexibility of brokerage performance is gradually realized. Xu Yingying, an analyst at Caitong Securities, pointed out that in the medium and long term, under the steady growth policy, the economic fundamentals are expected to improve to drive the equity market to continue to improve, and the medium and long-term performance of the brokerage sector is expected to return to the growth channel. In terms of individual stocks, it is recommended to pay attention to two main lines, the first is the main line of mergers and acquisitions under the excellent and strong head brokerage, and pay attention to high-quality head brokerages such as CITIC Securities and China Galaxy; The second is to benefit from the main line of improving liquidity in the capital market, focusing on Oriental Wealth, which has a high elasticity in its brokerage business.

A selection of potential stocks

CITIC Securities (600030).

China Galaxy (601881).

Oriental Fortune (300059).

Huatai Securities (601688).

3. New energy power: the development prospect is clear

Since the beginning of this year, China's green and low-carbon energy transformation has continued to make new breakthroughs. Judging from the energy situation and grid-connected operation of renewable energy in the first three quarters released by the National Energy Administration, the new installed capacity of renewable energy power generation in the first three quarters was 210 million kilowatts, a year-on-year increase of 21%, accounting for 86% of the new installed power capacity. Among them, wind power added 39.12 million kilowatts, and solar power added 161 million kilowatts, with a total increase of more than 200 million kilowatts. As of the end of September, the country's installed renewable energy capacity reached 1.73 billion kilowatts, a year-on-year increase of 25%, accounting for about 54.7% of China's total installed capacity.

Some analysts pointed out that in the medium and long term, in order to achieve the "carbon neutrality" strategy, China's energy, industry, consumption and regional structure will undergo major adjustments for a long time in the future, which will bring clear development opportunities for related industries. From the perspective of subdivisions, it is recommended that investors pay attention to photovoltaic, wind power and other beneficiary industries.

Wang Shuai, an analyst at Industrial Securities, pointed out that at present, photovoltaic manufacturers in all aspects are exploring the dynamic rebalancing node of supply and demand, and it is expected that the industry will optimize the pattern and accelerate the clearance of backward production capacity under the joint action of policy guidance and market adjustment mechanism in the future, and the expectation of interest rate cuts in Europe and the United States will also give continuous upward support to photovoltaic demand. From the perspective of industry profit restoration, it is recommended to pay attention to the leading photovoltaic main chain and auxiliary materials, and it is recommended to pay attention to Tongwei Co., Ltd., LONGi Green Energy, Jinko Solar, JA Solar, Trina Solar, Canadian Solar, Junda Co., Ltd., Aiko Co., Ltd., Foster Co., Ltd., and Follett Co., Ltd.

In terms of wind power, Yu Xihao, an analyst at Great Wall Securities, pointed out that with the launch of new products with large megawatts, the cost reduction work of the main engine link continues to advance, and the profitability is expected to improve marginally. With the improvement of demand, the capacity utilization rate and profit per ton of tower pipe piles have increased simultaneously, focusing on obvious regional advantages, smooth overseas market development and strong order acquisition capabilities of Haili Wind Power, Taisheng Wind Energy and Tianshun Wind Energy.

A selection of potential stocks

Tongwei shares (600438).

LONGi Green Energy (601012).

Trinity Renewable Energy (688349).

Goldwind (002202).

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