Investment Opportunities In The New Economy Should Be Grasped.

This year's investment strategy can be divided into two aspects: short term and long term.

First of all, from the perspective of short-term investment, in the future, because the investors are bad at the economy, the valuation of the traditional industries is very low, but in fact, the economy is not so bad, and it can grasp the expected difference from the traditional industries.

Take the coal industry as an example, with the supply side reform pushing forward the supply contraction, it will bring changes in supply and demand contrast, which will bring some opportunities to the industry.

However, Wang Huan reminded investors that because these traditional industries are very game oriented, they should be cautious before investing. First of all, we should take a look at the trend and direction of the development of industries. Whether these industries have capacity shrinkage, such as iron and steel, coal, nonferrous metals and cement, and the traditional consumption of textile, clothing, food and beverage, general merchandise retail.

Secondly, "leftover is king" depends on whether these companies are competitive and the fundamentals are better.

It is worth noting that the "new economy" and "old economy" are not entirely different. The key to sustainable growing company is to continuously improve efficiency and meet market demand.

Wang Huan reminded investors not only to see new innovative companies develop new products and business models, but also to pay more attention to more traditional advantages of enterprises. After rethinking and efforts, they have entered the common development stage of integration with emerging industries such as the Internet.

Rosefinch investment said that in addition to focusing on new economic areas, it will also focus on "reform" to layout this year's investment strategy.

In fact, the reform of state-owned enterprises and the supply side reform come from the same origin. They are through mergers and acquisitions to excess capacity, while developing new industries with growing space. In this process, through structural adjustment, the economy can be optimized in a relatively stable state.

In the long run, we are active.

And the structural reform of the supply side,

The structure and efficiency of enterprises will continue to improve. Leaders and successful pformation companies representing all sectors of the new economy will remain the main battleground in the long run.

These new economic sectors include real manufacturing of intelligent manufacturing and high-end manufacturing. In addition, health, health care, energy conservation, environmental protection, new energy and mobile Internet related to China's population structure are representatives of the new economy.

In the pitional period of emerging consumption from the basic necessities of life to the consumption of spiritual culture, media and film and television have gradually become a hot topic.

However, there are so many companies in these emerging industries. How can investors find real and sustained growth companies?

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The core is right, not just static. "

Specifically, to confirm that the company has the ability to grow, it can not be judged solely on the basis of PE or PB valuation. It should pursue a balance between growth and valuation.

First of all, the reform of state-owned enterprises will be a theme throughout the whole year. The core of SOE reform is to make state-owned enterprises more concentrated. By means of mixed ownership and employee stock ownership, it will truly become the main body of the market, so as to mobilize the enthusiasm and enhance the efficiency of the company.

Wang Huan said that local reform opportunities for state-owned enterprises.

Second, there are also great opportunities for supply side reform.

The core of the market is to allocate resources in a market way, that is, decentralization and decentralization, to release the enthusiasm of the economy itself, and to reduce the administrative intervention of the government, including tax reduction, enterprise mergers and acquisitions, and capacity withdrawal.

Because a large number of old industries have excess capacity, these will play a role in traditional industries.

The management of the supply side takes advantage of the fittest so that companies with lower efficiency and higher energy consumption will withdraw.

The old industry has experienced severe reshuffle mergers and acquisitions, and can focus on those companies with high quality and trade barriers.

Wang Huan said that for the listed companies engaged in service industry, the "supply side reform" can provide a brand new space for the great development of the service industry.

Whether it is cultural film and television industry, sports industry, pension industry, leisure tourism industry, China has a great gap with the international level, and is the direction of reform. These industries also coincide with the emerging industries mentioned earlier.