news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

NetEase Finance reported on July 22, MondayA sharesAt the opening, the three major stock indexes showed divergent trends.Shanghai Stock IndexDown 0.14% to 2978.19 points,Shenzhen Component IndexUp 0.06% to 8908.21 points,gemThe Shanghai and Shenzhen stock markets had a total turnover of 6.038 billion yuan, with the indices of information technology, cybersecurity and other sectors leading the gains.Online car-hailing, MLCC and other sector indices saw the largest declines; among them, in the data security sector, Oriental Zhongke and Geer Software hit the daily limit, and Jiayuan Technology rose by more than 18%; Huawei concept stocks opened higher, Chengmai Technology opened more than 10% higher, Oriental Zhongke hit the daily limit in bidding, and many stocks such as Kylin Security and Geer Software opened higher.

As of press time, the Shanghai Composite Index fell 4.12 points, or 0.14%, to 2978.19 points; the Shenzhen Component Index rose 4.97 points, or 0.06%, to 8908.21 points; the CSI 300 Index fell 0.61 points, or 0.02%, to 3538.4 points;ChiNext IndexThe Sci-Tech Innovation 50 Index rose by 0.15 points, or 0.02%, to 749.32 points.

company news

BAIC Blue Valley: Chairman Liu Yu and manager Dai Kangwei submitted written resignation reports due to work reasons, and the resignation will take effect from the date of delivery to the board of directors. The board of directors of the company agreed to elect Dai Kangwei as chairman, nominate Zhang Guofu as a candidate for director, and appoint Zhang Guofu as manager and Liu Guanqiao as deputy manager.

Guanghui Auto: Received the "Advance Notice on the Proposed Termination of Listing of Guanghui Automotive Service Group Co., Ltd.'s Stocks and Convertible Bonds" issued by the Shanghai Stock Exchange. The daily closing price of the company's stock has been below 1 yuan for 20 consecutive trading days, and the company's stock and convertible bonds have reached the conditions for delisting. The Shanghai Stock Exchange will make a decision to delist the company's stock and convertible bonds.

Yueboxui: The company's shares have been decided to be delisted by the Shenzhen Stock Exchange and will be delisted on July 22.

China Yangtze Power: Hunan Youxian Pumped Storage Power Co., Ltd. plans to invest in the construction of the Guanghanping Pumped Storage Power Station project in Youxian, Hunan, with a total investment of no more than 10.997 billion yuan, of which capital accounts for 20% of the total investment.

Jiangbolong: It is expected to achieve a net profit of 520 million to 610 million yuan in the first half of the year, compared with a loss of 596 million yuan in the same period last year, a year-on-year turnaround. During the reporting period, the global semiconductor storage market was in an industry upswing cycle. The company predicted the macro trend of the industry in advance, gave full play to the comprehensive advantages of scale, technology, packaging and testing, supply chain, products, and market brand, and took multiple measures to vigorously expand the company's various businesses, and achieved significant results.

Muyuan shares: With the improvement of the pig market and the continuous decline in breeding costs, the company's profitability and cash flow are expected to improve this year, and there is an objective basis for reducing the scale of debt. On the basis of stable operation, the company will continue to reduce the overall debt scale and leverage level, and optimize the debt structure and financial status.

Institutional Views

Huachuang Securities: The policy implementation window is approaching, and the allocation should focus on dividends such as home appliances

Huachuang Securities believes that the Third Plenary Session of the 18th CPC Central Committee emphasized stable growth in the short term and institutional building in the medium and long term to stabilize investor expectations; the positive forecast rate for the interim reports is 45%, and sufficient patience is still needed for the recovery of corporate performance; in Q2, public fund allocation shifted from core assets to dumbbell allocation, and current dividends are still underallocated; from the perspective of dividend stability, home appliances and petrochemicals deserve attention.

CICC: “Trump Trade 2.0” may accelerate the arrival of pro-cyclical trading

CICC said that in terms of rhythm, given the increasing probability of Trump's victory in the recent election, as well as the stronger fiscal dominance (monetary coordination), industrial repatriation and potential weak dollar characteristics in Trump's governance philosophy, "Trump Trade 2.0" may accelerate the arrival of pro-cyclical trading. At the same time, CICC also pointed out that due to the uncertainty of election results, the US stock market may enter a relatively high volatility period from July to October in each election year; and after the uncertainty of the election is dissipated, the US stock market and US bond interest rates tend to rise. On average, value stocks perform better than growth stocks after the election.

Tianfeng Securities: Dividends are still the main line of investment logic in the thermal coal sector

Tianfeng Securities stated that dividends are still the main line of investment logic in the thermal coal sector. Although the rise in coal sector stock prices has caused a decline in dividend yields since 2022, dividends are still the main line of investment. Unlike in the past, Tianfeng Securities believes that the market will pay more attention to the differentiated direction under the dividend logic in the second half of 2024, mainly two: 1) Incremental logic, to make up for the decline in dividend yields; 2) Integrated logic, to reduce risk premiums. Regarding the direction of coal-electricity integration that the market has focused on this year. For coal companies, the downstream integrated layout can not only obtain incremental growth, but also smooth the coal price cycle, so that the company's performance stability and long-term dividend expectations are enhanced. The return on investment of power plants mainly depends on three factors: electricity prices, coal prices, and utilization hours. The layout of coal-electricity integration should take into account the local electricity market conditions, coal prices, and whether there is UHV support.

Zhongyuan Securities: The domestic market is expected to stabilize and rebound

Zhongyuan Securities pointed out that infrastructure and manufacturing investment continued to grow, and exports maintained a high growth rate, which strongly supported the stabilization and improvement of the economy. The growth rate of financial data has slightly declined. US inflation continues to decline, strengthening the expectation of the Fed's interest rate cut. The domestic market is expected to stabilize and rebound, and it is recommended to pay attention to sectors such as chips, communications, breeding, and nonferrous metals.