光大证券晨会速递-20250529

Group 1: Macro Insights - The total amount of special bond acquisition plans for stock land announced by various regions exceeds 350 billion yuan, but the actual issued special bond scale is low at only 56.1 billion yuan, indicating that the issuance pace needs further tracking [2] - Land "storage" is concentrated in regions with better economic and debt conditions, with issued land storage special bonds primarily from "self-audit" pilot areas [2] - Third and fourth-tier cities, facing significant destocking pressure, show higher enthusiasm for "storage" [2] Group 2: Industry Research - The report maintains a positive outlook on undervalued, high-dividend, and well-performing "three barrels of oil" and oil service sectors, recommending companies such as China Petroleum, China Petrochemical, China National Offshore Oil Corporation, and others [3] - There is a continued focus on domestic substitution trends benefiting material companies, particularly in semiconductor and panel materials, with recommendations for companies like Jingrui Electric Materials and Tongcheng New Materials [3] - The report highlights optimism for the pesticide, fertilizer, and private refining sectors, suggesting attention to companies like Wanhua Chemical and Hualu Hengsheng [3] - The vitamin and methionine sectors are also viewed positively, with recommendations for companies such as Andis and Zhejiang Medicine [3] Group 3: Company Research - The report on the company New Yisheng indicates that it is a leading high-end optical module company, with potential high performance growth driven by 800G/1.6T high-speed optical modules, raising profit forecasts for 2025-2027 to 6.721 billion, 8.883 billion, and 10.659 billion yuan respectively, with current PE ratios of 12X/9X/7X [4] - Longji Technology is positioned in high-growth areas, with an optimized business structure, and profit forecasts for 2025-2027 are set at 2.155 billion, 2.504 billion, and 3.044 billion yuan, maintaining a "buy" rating [5]