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a-shares fell across the board today, with the shanghai composite index falling by more than 1% on a reduced volume, continuing to hit a new low since the beginning of the year; hong kong stocks also weakened, with the hang seng index falling by nearly 2%.

specifically, the main stock indexes of the two cities fell unilaterally during the day, and accelerated their decline in the late trading. the chinext index fell nearly 3%. as of the close, the shanghai composite index fell 1.1% to 2811.04 points, the shenzhen component index fell 2.11% to 8172.21 points, the chinext index fell 2.75% to 1536.95 points, and the science and technology innovation 50 index fell 3.48%; the total turnover of the two markets was 705.7 billion yuan, a decrease of 170.9 billion yuan from the previous trading day.

nearly 4,400 stocks in the two markets were in the red, and liquor stocks fell sharply. luzhou laojiao, shanxi fenjiu, and jinhui liquor fell more than 5%, and kweichow moutai and wuliangye fell more than 3%; the food and beverage sector also fell, and the condiment leader qianhe flavor industry once hit the limit, and tianwei food fell more than 9%; the brokerage sector pulled back, with cicc and china galaxy securities falling more than 4%; the coal sector rose against the market trend, with china coal energy and lanhua science and technology rising more than 6%; the banking sector rebounded, with agricultural bank of china rising nearly 4% and bank of china rising more than 2%; the immunotherapy concept was active, with guanhao bio, nanhua bio, and zhongyuan xiehe hitting the limit; the folding screen concept remained popular, and kosen technology won 6 consecutive limits; it is worth noting that shenzhen huaqiang hit the limit again, and has gained 12 limits in the past 13 trading days, with a cumulative increase of about 226%; naike equipment and baiyunshan fell sharply.

hong kong stocks also showed a weak trend, with the hang seng technology index falling more than 2%. as of the close, the hang seng index fell 1.65% to 17,691.97 points, and the hang seng technology index fell 2.08% to 3,486.4 points. in terms of individual stocks, new world development fell nearly 13%, china resources vanguard fell more than 7%, nongfu spring and china resources land fell more than 5%, and weilai and li auto fell more than 4%; xinyi solar and zhongsheng holdings rose nearly 3%.

as for today's a-share decline, analysts believe that there are mainly the following reasons:

on september 2, wang liang, president of china merchants bank, said at the bank's 2024 mid-term performance exchange meeting: "regarding the policy on mortgage transfer, we have also seen such information in the media, but we have not received any opinions from the macro-management department, the people's bank of china or the financial administration, nor have we sought the opinions of commercial banks, so this policy has not been confirmed yet, it is just some rumors in the media."foreign media reported earlier that china is considering further lowering the interest rates of existing mortgage loans, allowing the existing mortgage loans of up to 38 trillion yuan to seek mortgage transfers in order to reduce residents' debt burden and boost consumption. in this regard, wang liang said that if this policy is to be introduced, it will have a certain negative impact on the existing mortgage interest rates of the banking industry, and the macro-management department will do a good job of demonstration and research before introducing such a policy.

the economic data over the weekend showed average performance. data showed that in august, the manufacturing purchasing managers' index (pmi) was 49.1%, down 0.3 percentage points from the previous month, and the manufacturing boom declined slightly.

the concept stocks with chinese characters in their names fluctuated and fell today, affecting the trend of the market. among them, china shipbuilding fell by more than 9%, china communications construction fell by 7.5%, china railway construction, china heavy industry, and china shipbuilding industry corporation fell by more than 6%, and china power, china railway group, and china national chemical corporation fell by more than 5%.

in addition, the onshore rmb closed at 7.1115 against the us dollar at 16:30 today, down 234 points from the previous trading day.

liquor stocks fall

liquor stocks fell sharply today. mogao shares hit the daily limit at one point during trading and closed down 9.5%; luzhou laojiao, shanxi fenjiu, and jinhui liquor fell more than 5%, while kweichow moutai and wuliangye fell more than 3%.

mogao shares had previously hit the daily limit for three consecutive days. on the evening of august 30, the company issued a reminder that it is planning to acquire 51% of the equity of gansu haotian technology co., ltd. by a combination of cash payment and capital increase. the company has not yet signed any agreement on the transaction plan and other matters. the core matters of the transaction still need further demonstration and negotiation. there is uncertainty in the transaction. haotian technology is a company that actively applied to withdraw its ipo application. its operating income in 2023 has declined compared with 2022. it has been operating at a loss in 2023 and the first half of 2024. investors are advised to pay attention to investment risks.

regarding this sector, ping an securities pointed out that the interim report of the liquor sector has been disclosed. the overall growth rate of revenue and profit in the second quarter has declined compared with the first quarter, which to a certain extent reflects the weak consumer demand. among them, high-end liquor is relatively stable, and the mid-high-end has declined significantly. jiangsu and anhui local liquors, except yanghe, still maintain resilience. although the overall growth rate has declined, kweichow moutai and yanghe shares announced that the dividend ratio from 2024 to 2026 will not be less than 75% and 70%, respectively, to continue to give back to shareholders. with the double holidays approaching, the inventory of famous liquors is stable, and the stocking and sales are stable, which is expected to be a smooth transition. it is recommended to pay attention to the opportunity to cover positions under low valuations.

the food and beverage sector also fell, with qianhe flavor industry and tianwei food falling more than 9%, bestore falling more than 5%, zhongju high-tech, ligo food, and yili group falling more than 4%. it is worth noting that qianhe flavor industry once hit the limit during the session and closed down 9.5% at 12.19 yuan, with a latest market value of 12.5 billion yuan.

qianhe flavor industry disclosed its 2024 semi-annual report on the evening of august 30, showing that in the first half of the year, the company achieved operating income of 1.589 billion yuan, a year-on-year increase of 3.78%; net profit attributable to shareholders of listed companies was 251 million yuan, a year-on-year decrease of 2.38%. in the second quarter alone, the company achieved operating income of 694 million yuan, a year-on-year decrease of 2.53%; net profit attributable to the parent company was 96 million yuan, a year-on-year decrease of 14.16%.

everbright securities said that the company's second-quarter performance was weak. on the one hand, it was due to the high base of online sales last year. on the other hand, the company began to make spontaneous adjustments to the market, stabilizing prices and consolidating the foundation through product upgrades. in addition, negative economies of scale appeared after the slowdown in revenue growth, and intensified industry competition led to high cost investment, which put pressure on the profit side. at this point in time, the company is actively adjusting to improve the quality of the overall channel outlets by launching new products and refining channels. we are still optimistic about the long-term potential of the zero-additive market and wait for the company's performance after adjustments.

coal sector rises

the coal sector rose against the market trend today. as of the close, china coal energy and lanhua science and technology rose by more than 6%, kailuan shares rose by more than 4%, and yanzhou coal mining energy rose by about 3%.

in terms of industry, the a-share semi-annual report was released last week, and seven listed coal companies including yancoal energy announced mid-term dividend plans. in comparison, no coal companies implemented mid-term dividends in 2023, and only four companies in the past five years implemented mid-term dividends. this highlights the role of the 2024 central enterprise market value management reform in promoting the dividend policy of central state-owned enterprises.

kaiyuan securities stated that the coal sector, as an important area of ​​state-owned assets, has actively responded to policy calls and is showing a trend of spreading from central enterprises to local state-owned enterprises. the dividend ratio and frequency are expected to continue to increase in the future, and the investment value of the coal sector with high dividends and high dividends will become more prominent.

folding screen concept remains popular

the concept of foldable screens strengthened again today. as of the close, oak shares hit the daily limit of "20cm", xingxing technology rose more than 16%, aska and dafu technology rose more than 13%, guanshi technology, kosen technology, guofeng new materials and others also hit the daily limit, and kaisheng technology rose nearly 9%.

kosen technology has been trading at the daily limit for six consecutive trading days. the company issued a risk warning on the evening of august 30, saying that it has recently noticed that the company has been listed as a folding screen concept stock by the media. after self-examination by the company, the company's folding screen hinge assembly business has not yet generated revenue in 2024 as of the date of the announcement. the company expects that the revenue generated by this business during the year will account for a small proportion of the overall revenue and will contribute limited to the company's overall revenue in 2024. the company's net profit attributable to shareholders of listed companies in the first half of 2024 was -161 million yuan, and the company was in a loss-making state. the company's current stock price has deviated from the company's fundamentals and there is a risk of excessive irrational speculation. investors are kindly requested to pay attention to investment risks and invest rationally.

kaisheng technology has risen by more than 30% in the past three trading days. the company reminded on the evening of august 30 that the company has not found any media reports, market rumors, or market hot concepts that need to be clarified or responded to that have an impact on the company's stock trading price. after verification with the management, the company's various business management activities are currently normal and orderly. in recent years, the production capacity of newly built projects has been released in an orderly manner. the market environment and industry policies in which the company is located have not undergone major adjustments. the company's main businesses include display materials business and application materials business, and there have been no major changes in the main business.

according to a report by counterpoint research, global shipments of foldable smartphones surged 49% in the first quarter of 2024, and huawei surpassed samsung for the first time to become the quarterly shipment champion. yu chengdong revealed at the delivery ceremony of the first batch of owners of the enjoy s9 that huawei's new three-fold phone may be released in september. transsion recently announced its three-fold concept phone - phantom ultimate 2. according to transsion's official introduction, the thickness of this new phone can be reduced to only 11 mm when folded, and the battery cover is only 0.25 mm thick. on the other hand, samsung initially demonstrated its concept of a three-fold solution as early as 2021; honor also has the technical ability to launch a three-fold phone. the agency said that the folding machine industry is growing rapidly, and the leading mobile phone manufacturers are ready to go. it is recommended to pay attention to related companies in the industry chain.