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NetEase Finance, August 20 TuesdayA sharesThe three major stock indexes opened slightly higher.Shanghai Stock IndexUp 0.06% to 2895.55 points,Shenzhen Component IndexUp 0.08% to 8363.87 points,GEMThe Shenzhen Stock Exchange Index rose 0.06% to 1590.17 points and the Science and Technology Innovation 50 Index rose 0.11% to 704.12 points. The total turnover of the Shanghai and Shenzhen stock markets was 4.784 billion yuan.nuclear powerThe sector indexes such as and so on led the gains; Huawei HiSilicon concept stocks adjusted, Century Dingli hit the limit down in bidding, Tianyi shares fell more than 18%, Jingsai Technology fell more than 13%, Liyuan Information and Huilun Crystal fell more than 8%.

As of press time, the Shanghai Composite Index rose 1.88 points, or 0.06%, to 2895.55 points; the Shenzhen Component Index rose 6.97 points, or 0.08%, to 8363.87 points; the CSI 300 Index rose 4.67 points, or 0.14%, to 3361.64 points;ChiNext IndexThe Sci-Tech Innovation 50 Index rose by 0.89 points, or 0.06%, to 704.12 points.

Company News

Weier Shares: In the first half of 2024, the company achieved operating income of 12.091 billion yuan, a year-on-year increase of 36.50%; the net profit attributable to shareholders of the listed company was 1.367 billion yuan, a year-on-year increase of 792.79%; basic earnings per share was 1.14 yuan.

Shanghai Belling: In the first half of 2024, the company achieved operating income of 1.11 billion yuan, a year-on-year increase of 27.2%; the net profit attributable to shareholders of listed companies was 131 million yuan, reversing the loss year-on-year, and the net profit after deducting non-recurring items was 115 million yuan, a year-on-year increase of 66.86%.

Changan Automobile: Avita Technology, a joint venture, plans to purchase 10% of Yinwang's equity held by Huawei, with a transaction amount of RMB 11.5 billion. After this transaction, Avita Technology will hold 10% of Yinwang's shares, while Huawei will hold 90% of Yinwang's shares. At the same time, Avita Technology plans to sign a "Shareholder Agreement" with Huawei and Yinwang.

Daan Gene: Recently, the company obtained a medical device registration certificate issued by the State Food and Drug Administration, specifically a monkeypox virus nucleic acid detection kit (fluorescence PCR method), which is valid from the date of approval to August 17, 2029. At present, the above products are still in the market development stage, and there is uncertainty in market demand. Investors are advised to pay attention to investment risks.

Changchun High-Tech: Recently, the application for the new specification and new indication of long-acting growth hormone by Changchun Jinsai Pharmaceutical Co., Ltd., a subsidiary of the company, was approved by the National Medical Products Administration. The indication is for growth disorders in girls caused by gonadal dysgenesis (Turner syndrome).

Institutional Views

CITIC Securities: In the short term, we still need to wait for offensive signals, and we can consider holding on to dividend assets such as electricity first

CITIC Securities believes that the experience of A-shares in the past two years shows that once A-shares start to rise, they tend to rise rapidly. At the current stage, investors still need to focus on holding winning assets. Dividend assets are internally differentiated, and the increase is negatively correlated with volatility, with stable dividends being dominant. After the expansion of domestic demand, the market's risk appetite will rebound, and funds will look for flexible opportunities. It is expected that the economy will pick up next year. The direction of new quality productivity and the direction of benefiting from the return of overseas funds will receive market attention, and it is possible to consider buying on dips.

Guotai Junan: The market size of the nuclear power equipment industry is expected to grow rapidly

Guotai Junan said that China's nuclear power development margin is improving. At the total level, after the nuclear power approval was restarted in 2019, the number of approved units has gradually increased. In 2022 and 2023, 10 new units were approved respectively. Guotai Junan expects that the number of approvals will continue to increase in 2024; at the technical level, the third-generation nuclear power reactor is being fully replaced by domestic production, and the research and development of the fourth-generation reactor leads the world. In addition to the power generation field, the application scenarios of military-civilian integration have also promoted the development of China's nuclear power. In addition, my country's cooperation with other countries in the world in the field of nuclear power has gradually become closer, and the export of nuclear power equipment and technology will also help the development of the nuclear power industry. Both the investment amount of my country's nuclear power source and the capital expenditure of China's nuclear power are on the rise, driving the growth of the scale of my country's nuclear power equipment industry. Nuclear island equipment not only accounts for the highest proportion of the cost of nuclear power equipment, but also has high technical barriers and a relatively stable industry structure. In the future, with the development of my country's nuclear power equipment, companies related to nuclear island equipment will surely develop rapidly.

Everbright Securities: The decline in this round of shrinking volume is relatively small, and the subsequent rebound space of the Shanghai Composite Index is about 5%.

Everbright Securities pointed out that the Shanghai Composite Index has risen for three consecutive days, but the increase is not large and has not yet broken through 2,900 points, mainly due to insufficient volume. The weight represented by banks is obviously stronger than the theme direction. The four major banks of Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and Construction Bank of China continue to hit historical highs. Whether in terms of high dividends or mid-year performance, banks have advantages. High dividends and "Kote estimates" in the future are worthy of long-term attention. Since March, the daily turnover of the A-share market has continued to decline, shrinking from nearly 1.4 trillion yuan to less than 500 billion yuan. Last week, the market turnover was less than 500 billion yuan for three consecutive days, setting a new low since May 2020. This shrinkage and decline have occurred simultaneously for more than 6 months, and the possibility of further decline is low, which can basically be judged as the bottom. The decline in this round of shrinkage is relatively small, and the subsequent rebound space of the Shanghai Composite Index is about 5%. Whether it can continue to break upward still needs to pay attention to the continued improvement of economic fundamentals and capital.