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NetEase Finance July 30th,TuesdayA sharesThe three major stock indexes opened slightly lower.Shanghai Stock IndexIt fell 0.23% to 2885.22 points.Shenzhen Component IndexIt fell 0.38% to 8482.17 points.gemThe Shanghai Composite Index fell 0.4% to 1629.18 points, the Science and Technology Innovation 50 Index fell 0.1% to 706.86 points, and the Shanghai Composite Index fell 0.21% to 3194.08 points; the total turnover of the Shanghai and Shenzhen stock markets was 5.047 billion yuan, and the rail transit equipment, electronic ID card, and liquor sectors fell the most. Most DRG/DIP sectors opened lower, Jiayuan Technology fell nearly 5%, Wanda Information fell nearly 2%, SiChuang Medical and Guoxin Health followed suit, and Volkswagen Public Utilities rose to the daily limit for 4 consecutive days.

As of press time, the Shanghai Composite Index fell 6.63 points, or 0.23%, to 2885.22 points; the Shenzhen Component Index fell 32.48 points, or 0.38%, to 8482.17 points; the CSI 300 Index fell 10.05 points, or 0.3%, to 3380.69 points;ChiNext IndexThe S&P 500 Index fell 6.49 points, or 0.4%, to 1629.18 points; the Science and Technology Innovation 50 Index fell 0.74 points, or 0.1%, to 706.86 points.

company news

Volkswagen Transportation: The company has noticed that the market has paid much attention to intelligent network-connected vehicles recently. This model is still in the experimental stage and basically does not generate any income for the company. There is still uncertainty about the future business development trend. It will not have a significant impact on the company's business activities in the short term. The stock price has risen sharply recently, and there may be a risk of falling after a short-term sharp rise. Investors are advised to invest rationally, make prudent decisions, and pay attention to preventing investment risks.

WuXi AppTec: In the first half of the year, the company achieved operating revenue of 17.241 billion yuan, a year-on-year decrease of 8.64%; net profit of 4.239 billion yuan, a year-on-year decrease of 20.2%; basic earnings per share of 1.46 yuan.

Pingmei Group: The company's controlling shareholder, China Pingmei Shenma Holding Group Co., Ltd., plans to increase its holdings of the company's unrestricted tradable A shares at a price not higher than RMB 12 per share through the Shanghai Stock Exchange trading system by way of centralized bidding within six months. The cumulative amount of increase will be no less than RMB 300 million and no more than RMB 600 million, and the cumulative increase ratio will not exceed 2% of the company's total share capital.

Valin Steel: The company's controlling shareholder Hunan Iron and Steel Group and its concerted party Xianggang Group increased their holdings of the company's shares by 69.1641 million shares from July 11 to July 29, accounting for 1% of the company's total share capital. Hunan Iron and Steel Group and its concerted parties intend to continue to increase their holdings of the company's shares within 6 months, and the number of shares to be increased shall not be less than 0.5% of the total share capital and shall not exceed 1% of the total share capital.

Institutional Views

Industrial Securities: The market is in a window where risk appetite is slowly climbing, and a turnaround may come in August

Industrial Securities believes that the excess returns of low-volatility dividend-yielding bond-type leading stocks have recently begun to converge, which also shows that the market is spreading outward from the defensive sector and looking for new directions. Looking forward, we believe that the current situation is similar to late April, and the market is still in a window where risk appetite is slowly climbing and repairing from an overly pessimistic state. The market may usher in a turnaround in August. The market style will also spread from a defensive state to a high prosperity and high ROE direction.

CITIC Construction Investment: Pay attention to the crude oil pulse market under the situation in the Middle East in the third quarter

CITIC Securities said that the three major US stock indexes have recently entered a period of adjustment, with large and small caps switching styles, but it is expected to eventually enter a resonant decline mode, and it is recommended to reduce allocations at high levels. In the short term, before new catalysts appear, gold prices are expected to continue to fluctuate at a high level of $2,300-2,400. Oil prices fell under Trump's deal, but compared with Trump's previous term, the current situation in the Middle East is more uncertain. Continue to emphasize the option value of short-term crude oil supply in the Middle East conflict event. At the current position, there is limited room for oil prices to continue to fall, and pay attention to the event pulse market of the Middle East situation in the third quarter.

Huatai Securities: Seize investment opportunities in operators, AI, and new productivity

Huatai Securities said that looking forward to 2H24, it is recommended to pay attention to: 1) "Integrated" telecommunications operations: Operator industry profits and cash flow are improving, and investor returns continue to increase; 2) "Two wings" of AI computing power: The high growth in demand for optical modules at home and abroad is expected to be further realized, and AI Ethernet switches and liquid cooling are expected to usher in the first year of large-scale sales; 3) "Two wings" of new quality productivity: pay attention to emerging industries such as satellite Internet, low-altitude economy, and vehicle-road-cloud.

Soochow Securities: Demand for home appliance recycling industry is expected to accelerate, focusing on the waste electricity dismantling industry chain

Soochow Securities pointed out that central fiscal funds support the dismantling of waste electricity, and the old-for-new subsidies clearly stimulate demand. The fund for the treatment of waste electrical and electronic products will stop collecting on January 1, 2024. This time, it is clear that the central government has arranged 7.5 billion yuan to continue to support the recycling and treatment of waste electrical and electronic products in the form of awards instead of subsidies. The budgeted revenue and expenditure of the waste electrical and electronic products treatment fund in 2023 are 2.85 billion yuan and 2.908 billion yuan, respectively. The source of funds for the waste electricity dismantling subsidy has been clarified, the subsidy amount has more than doubled, and the business model of waste electricity dismantling has been significantly optimized. According to the "Action Plan for Promoting the Replacement of Old Consumer Goods for New Consumer Goods", it is proposed that the recycling volume of used household appliances will increase by 30% by 2027 compared with 2023. As the implementation of the old-for-new subsidies for household appliances is intensified, it is expected that the demand for the household appliance recycling industry will accelerate. It is recommended to pay attention to the waste electricity dismantling industry chain.