The Meg Haircut Report reports that this year's preference is for industries with controlled supply and low raw material costs, as well as shares with policy support. Industry demand is expected to grow only modestly as GDP growth slows and property construction will remain weak until the second half of the year. The main demand power is still from infrastructure.
Looking forward to this year, in terms of policy, the integration of Beijing-Tianjin-Hebei will benefit Jinlu; the reform of state-owned enterprises will benefit Conch and Baosteel; the transformation of tax policy will benefit Shenhua and China National Petroleum Corporation; the interest rate cut will benefit Chinalco, Maanshan Iron and Steel, and the renminbi or the weak, Unfavorable crepe paper and Lee & Man paper; potential asset injection/sale will benefit Shenhua and Chinalco.
Among the many industries, the bank prefers the steel industry this year and believes it can continue to be revalued. Benefiting from better production capacity control and iron ore prices falling year by year, the average compound annual growth rate in 2015-16 is expected to reach 20% to 54%. The industry's top picks are Baosteel and Angang. Ma Steel's rating rose to "outperform the market."
In the cement industry, although demand growth has slowed this year, it is expected that capacity utilization will see improvement. As demand in the North rebounds, it is believed that companies with weaker performance in the past can recover. I believe that Jinluo, Conch and Conch Ventures can outperform. The gross profit per ton of mud will fall and the rating will be reduced to “neutralâ€.
In the coal industry, it is believed that the performance of thermal coal will move with the big market, but it is not optimistic about coking coal. China Coal Energy and Yancoal are rated “Neutralâ€.
In the paper industry, I believe it will take another year to adjust the problem of oversupply, as demand growth remains sluggish. I believe that this year will be a year of integration, and there will be a structural change next year. The utilization rate will rise to 87%. The crepe paper has reached the target price of the bank, and investors are advised to make a profit first, waiting for a better time to enter the market.
In terms of metal/fertilizer, it is believed that Chinalco will be able to regain profits after selling assets and cutting costs. Jiangxi Copper and Zijin are rated “neutral†and Zhaojin maintains “underperformâ€. Still optimistic about the fertilizer industry, Zhonghai Petrochemical is the first choice.
Water Treatment Solenoid Dosing Pump
*Food and Beverage industries: dosing additives
*Application for reverse osmosis
*Application for chlorine dioxide
* High protection level: protection level reached to IP65, it allowed pump to provide safe services at severe operaton condition
*High speed operation: high measurement precisions, up to 360 strokes per minute which eliminate the pulsation effect.
*Compact size: small, quiet and stable operation
*Durable diaphragm: the diaphragm is made by PTFE, which is compatible with all kinds of chemicals. In typical use, the diaphragm can last up to five years, which 5 times as national standard GB/T7782-2008
*Strong stability: working stability in AC 100-240V, and suitable for the range of 50-60Hz
*Ball check valves: it through double valve ball, seat and sleeve to form the sealing system, that enhance the precision
*Several types: manual control or automatic control, the automatic control can divided to: 4-20mA electric current signal control, digital impulse signal feedback control, digital impulse feedback control with Rs485 communication interface, 4-20mA electric current signal control with Rs485 communication interface.
*Percentage adjustment: local adjust percentage for stroke and frequency 0~100%
*Level monitor, low-level shutoff with alarm output
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