Zhitong Financial APP learned that on December 21, affected by the policy gradually transition from the credit side to the demand side of the news, A-share real estate development plate opened stronger, as of press release, Chongqing Development (000514.SZ), Dalong Real Estate (600159.SH), Tianbao Infrastructure (000965.SZ) and other stocks rose, Jinbin Development (000897.SZ), Zhongzhou Holdings (000042.SZ), Sunshine shares (000608.SZ), 600665.SH and other stocks rose.
China Galaxy Securities believes that the current market is in a combination of "fundamental bottom area" + "policy bottom", policy support is increasing, and policy gradually transitions from the credit side to the demand side. According to past experience, the impact of policy on the elasticity of plate valuation is greater than performance, and plate valuation generally begins to rise when the fundamentals are at the bottom. The industry has entered a virtuous circle in the process of survival of the fittest and credit reconstruction, which is beneficial to state-owned enterprises and high-quality private enterprises with a moat. Looking forward to 2022, Ping an Securities mentioned that there is still policy game space under short-term fundamentals pressure, and plate valuations and low positions enhance the margin of safety. In the medium term, the industry bottomed out and stabilized, the main line of investment returned to fundamentals, the share of excellent enterprises increased under the pattern reshaping and mode change, and considerable development is worth looking forward to. Be optimistic about the overall performance of the real estate sector in 2022. Throughout the year, it is recommended to select individual stocks and configure leading housing enterprises with strong short-term pressure resistance and outstanding medium-and long-term competitive advantages.