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China Fund News Jiangyou

In the volatile A-share market, the Shanghai Composite Index once lost the 2,900-point mark in the morning, and then recovered with a V-shaped rebound. The index closed above 2,900 points in the morning and closed in the red.

The trading volume of many CSI 300 ETFs represented by the blue chip index increased significantly in the morning. The CSI 300 ETF (510300), which has the largest trading volume, had a trading volume of 2.77 billion yuan in the morning, while the trading volume for the whole day yesterday was only 3.24 billion yuan. The trading volumes of CSI 300 ETF E Fund (510310) and CSI 300 ETF (159919) in the morning were 1.05 billion yuan and 926 million yuan respectively, both exceeding the trading volume for the whole day yesterday.

At the close of the morning, with the help of heavyweights such as electricity, oil, and banks, the Shanghai Composite Index rose slightly by 0.1%, the Shenzhen Component Index fell by 0.35%, the ChiNext Index fell by 0.18%, and the Science and Technology Innovation 50 Index fell slightly by 0.06%. More stocks fell than rose, with 3,172 stocks falling and 1,886 stocks rising. The market turnover in the morning was 406.3 billion yuan.

In terms of industry sectors, in A-shares, water, aviation, shipping, electricity, transportation facilities, and telecommunications operations were among the top gainers, while home appliances, automobiles, tourism, and real estate were among the top losers. In the Hong Kong stock market, stocks in the food and beverage, new energy vehicles, and other fields fell sharply. In terms of individual stocks, there were both stocks that rose by the daily limit and those that continued to fall.

Plans to cross-border acquire "Huiyuan Juice"

Guozhong Waterworks hits 3 daily limit increases

This morning, Guozhong Water's stock price once again hit the daily limit, and the stock has hit the daily limit for three consecutive times. On the news front, the company plans to take control of the parent company of "Huiyuan Juice".

On July 23, Guozhong Water announced that it was planning to acquire the shares of Zhuji Wenshenghui Self-Owned Capital Investment Co., Ltd. held by Shanghai Yongrui Enterprise Management Partnership (Limited Partnership). According to preliminary estimates, this transaction is expected to constitute a major asset reorganization. After the acquisition is completed, the company will become the controlling shareholder of Beijing Huiyuan Food and Beverage Co., Ltd. "Huiyuan Juice" may be listed on the A-share market.

Guozhong Water said that if the transaction can be implemented smoothly, it will optimize the company's asset structure, help increase the company's asset scale and profitability, promote the company's high-quality development, and be in line with the company's future development strategy.

Nongfu Spring, with a market value of more than HK$300 billion, saw its share price plummet again

A new low in more than 2 years

The Hong Kong food and beverage sector fell significantly. Nongfu Spring, which was recently caught up in the "exceeding standards" controversy, fell again, dropping about 7% in the morning. After the market closed, the company's market value was about HK$350 billion.

Jefferies Group published a research report, predicting that the continued strong sales of Nongfu Spring (09633.HK)'s ready-to-drink tea products will drive revenue growth of 8% year-on-year to RMB 22.2 billion in the first half of the year, which will be partially offset by the decline in bottled water business. The company's mid-year net profit forecast for this year is expected to increase by 6.8% to RMB 6.2 billion, and the adjusted net profit is expected to increase by 8%. Nongfu Spring's management revealed that it will increase investment in marketing in the second half of the year to promote the development of the water business. In response to the adjustment of sales expectations, Jefferies Group lowered Nongfu Spring's target price.

Editor: Joey

Audit: Wooden Fish

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