国投证券近期指出，目前建筑行业央企基本面整体稳健，经营质量改善为各家目标，央国企集中度持续提升，财政预期加码叠加地方政策化债落地实施，驱动公司基本面修复，叠加市值管理、国企改革和鼓励分红持续推进，估值有望提升。天风证券表示，继续强调基建改善+破净价值提升的投资主线，以及此前证监会对破净股松绑，叠加化债资金对于建筑企业报表改善，持续看好建筑企业中长期的基本面及估值回归。Infrastructure stocks were higher in early trading. As of press release, CRRC (01766) rose 4.36% to HK$4.79; China Railway Construction (01186) rose 2.73% to HK$5.65; and China Railway (00390) rose 2.64% to HK$3.89.
The Zhitong Finance App learned that infrastructure stocks were higher in early trading. As of press release, CRRC (01766) rose 4.36% to HK$4.79; China Railway Construction (01186) rose 2.73% to HK$5.65; China Railway (00390) rose 2.64% to HK$3.89; China Communications Construction (01800) rose 2.53% to HK$5.27; China Metallurgical (01618) rose 1.85% to HK$1.65.
According to the news, on December 17, the State Council's State-owned Assets Administration Commission issued “Certain Opinions on Improving and Strengthening the Market Value Management of Listed Companies Controlled by Central Enterprises”. The “Opinion” mainly puts forward nine specific requirements, including focusing on improving the quality of development of listed companies, actively carrying out mergers and acquisitions that are conducive to increasing investment value, increasing market-based reforms, comprehensively improving the quality of credit disclosure, actively strengthening investor relationship management, stabilizing investors' return expectations, improving institutional arrangements to enhance investor confidence, improving the working system mechanism for market value management, and strictly adhering to the bottom line of legal compliance.
SDIC Securities recently pointed out that at present, the fundamentals of central enterprises in the construction industry are generally stable, and improving the quality of operations is the goal of various companies. The concentration of central state-owned enterprises continues to increase, fiscal expectations are increasing and the implementation of local policy bonds is driving the restoration of company fundamentals, superposition market value management, state-owned enterprise reform, and encouraging dividends, and valuations are expected to increase. Tianfeng Securities said that it continues to emphasize the main investment line of infrastructure improvement+net value increase, as well as the Securities Regulatory Commission's unbundling of broken stocks and superimposed debt funds to improve construction companies' statements, and continues to be optimistic about the return of medium- to long-term fundamentals and valuations of construction companies.
