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NetEase Finance, August 2, FridayA sharesThe three major stock indexes opened lower.Shanghai Stock IndexIt fell 0.66% to 2913.02 points.Shenzhen Component IndexIt fell 0.86% to 8599.06 points.gemThe Shanghai Composite Index fell 0.97% to 1649.84 points, the Science and Technology Innovation 50 Index fell 1.11% to 730.65 points, the Shanghai Composite Index of Return fell 0.66% to 3225.42 points, and the computing power chip, smart light pole, and synaesthesia integration sector indices fell the most; the total transaction volume of the Shanghai and Shenzhen stock markets was 7.414 billion yuan; CPO concept stocks opened low, Zhongji Xuchuan opened more than 5% lower, Xinyi Sheng fell more than 4%, Tianfu Communication, Shengyi Electronics, Yuanjie Technology and others opened lower.

As of press time, the Shanghai Composite Index fell 19.37 points, or 0.66%, to 2913.02 points; the Shenzhen Component Index fell 74.52 points, or 0.86%, to 8599.06 points; the CSI 300 Index fell 25.35 points, or 0.74%, to 3393.92 points;ChiNext IndexThe S&P 500 Index fell 16.13 points, or 0.97%, to 1649.84 points; the Science and Technology Innovation 50 Index fell 8.22 points, or 1.11%, to 730.65 points.

company news

BYD: Passenger car sales in July were 340,799 units, compared with 261,105 units in the same period last year. Cumulative passenger car sales from January to July this year were 1.948 million units, up 29% from the same period last year.

Seres: In July, the sales volume of new energy vehicles reached 42,200 units, a year-on-year increase of 508.25%. Among them, the sales volume of Seres vehicles reached 40,300 units, a year-on-year increase of 850.19%.

China Energy Engineering: Recently, the company's subsidiary China Electric Power Engineering Consulting Group Northwest Electric Power Design Institute Co., Ltd., as the general contractor, won the bid for the Shaanxi Yanchang Petroleum Fuxian Power Plant Phase II 2×1000MW Project EPC General Contracting Project, with a bid amount of approximately RMB 6.376 billion. The project plans to build 2×1000MW ultra-supercritical coal-fired indirect air-cooled power generation units, with a total construction period of approximately 31 months.

Golden Arowana: The company recently received a "Commitment on Voluntary Extension of Share Lock-up and Reduction" from its controlling shareholder Wilmar Hong Kong, which voluntarily extended the lock-up period of the company's pre-IPO restricted shares. The lock-up period of 89.99% of the company's shares held by Wilmar Hong Kong was extended to October 16, 2025.

Huadian Power International: The company plans to acquire equity interests in several companies, including 80% equity interests in Huadian Jiangsu Energy Co., Ltd., by issuing A shares and paying cash, and raise matching funds. The company's shares will resume trading on August 2, 2024. As of the signing date of the summary of the plan, the audit and evaluation of the target company has not been completed, and the specific transaction price of this transaction has not yet been determined.

CATL: As of July 31, 2024, the company has repurchased a total of 15.9915 million shares, accounting for 0.3635% of the company's current total share capital. The highest transaction price was 194.10 yuan/share, the lowest transaction price was 146.31 yuan/share, and the total transaction amount was 2.711 billion yuan (excluding transaction fees).

Institutional Views

Orient Securities: It is expected that the Shanghai Composite Index will continue to fluctuate around 2,900 points in August

Orient Securities believes that the stock index did not continue the bullish atmosphere of the previous day, but chose to rest in a low-key manner, but many popular stocks at high levels became active again. Looking forward to the market in August, the stock index is expected to fall within a limited range and still fluctuate around 2,900 points. Theme stocks are still the star sectors, such as transportation (railway, automobile, low-altitude economy), aerospace, chips, etc. Opportunity participation is the main strategy.

CITIC Securities: Recent policy actions to expand domestic demand have increased, and attention should be paid to areas where subsidy policies exceed expectations

CITIC Securities said that the recent policy-level actions to expand domestic demand have been frequently increased. On the one hand, in an environment where stock funds are playing games and the wind is biased, the winning rate of short-term low-level growth has increased. In addition to the AI ​​industry chain, semiconductor industry chain, and military industry, which have been adjusted back in the previous period but still have industrial logic support and are expected to lead the rebound, the theme market is also expected to be active in stages (autonomous driving, low-altitude economy, robots, etc.). On the other hand, pay attention to areas such as ships and commercial vehicles where subsidy policies exceed expectations and are in the renewal cycle; the previous subsidy policies for automobiles, home appliances, general/special equipment, and agricultural machinery sectors have limited effects, but as the proportion of this subsidy is further expanded, it is necessary to closely track the fundamental boost after the policy increase.

Huatai Securities: Gold prices are likely to rise and the turning point of copper prices may have appeared

Huatai Securities pointed out that for different economic scenarios in the United States in the future, the continuous interest rate cuts or steady-state re-inflation in the downward trend of the US economy will be a high-probability event, and both scenarios are conducive to the rise of gold prices. The short-term upward turning point of copper prices may have appeared. Huatai Securities believes that the rapid rise in copper prices in 24H1 has suppressed downstream demand. With the decline in copper prices in July, demand has gradually recovered, and supply is still tight. The negative sentiment of the market trading US recession has also increased with its Q2GDPThe data exceeded expectations and ended. There have been many incidental events recently, which may catalyze the rise in gold and copper prices; for example, the Escondida copper mine with an annual output of more than 1 million tons may face potential strike risks, and the subsequent development of the situation in the Middle East is also worthy of attention.

CICC: New materials sector still has great investment value

CICC pointed out that the new materials industry has been in a downturn for about a year and a half, and the current valuation of the sector is at its lowest level since 2015. At the same time, corporate revenue and profits have shown signs of stabilization. CICC believes that the trend of localization of key materials is clear, and the localization rate is expected to be significantly improved. At the same time, new materials with technology in the introduction stage and large market space are emerging in an endless stream. The new materials sector still has great investment value. It is recommended to focus on new materials with low localization rates and new materials with synchronized domestic and foreign technologies and large market space.