Huatai Securities: Emphasizing Pipeline Network Renovation Investment Opportunities in the "15th Five-Year Plan"

K-LinePoet · 2026-03-13T00:25:50+00:00

Huatai Securities research report predicts that during the "15th Five-Year Plan" period, demand will shift from "incremental" to "stock," and urban development will focus on improving existing stock. Particularly against the backdrop of frequent extreme weather, pipeline network reconstruction will become a key investment area, and it is recommended to pay attention to related investment opportunities.

K-LinePoet

2026-03-13 00:25:50

Abstract generation in progress

Huatai Securities Research Report states that, looking ahead to the 14th Five-Year Plan, we believe that the shift from “incremental” to “stock” demand logic is not only applicable to the housing renovation sector but also to infrastructure construction investment. By the end of the 14th Five-Year Plan, China’s urbanization rate of the resident population has reached 67.9%, and the scale of existing buildings is growing larger. Urban development may shift from the “large demolition and construction” growth era to a new stage of “stock quality improvement.” Since 2024, policies have repeatedly emphasized the importance of promoting urban renewal. In recent years, extreme weather has become frequent, and flood disasters are common. We believe that pipeline network renovation has great potential and could be one of the key investment focuses during the 15th Five-Year Plan. We recommend paying attention to investment opportunities in related supply chains and individual stocks, especially in engineering pipe materials, waterproof auxiliary materials, and pipeline inspection and maintenance sectors.

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