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the three major a-share indexes rose in large volume, with the shanghai composite index rising by more than 2% to regain 2,800 points. as of the morning close, the shanghai composite index rose by 2.38% to 2,814.30 points; the shenzhen component index rose by 2.58% to 8,291.61 points; the chinext index rose by 3.45% to 1,583.30 points; the science and technology innovation 50 index rose by 2.58% to 659.61 points; and the beijing stock exchange 50 index rose by 2.16% to 612.72 points. the two markets had a total turnover of 520.1 billion yuan in the first half of the day.

on the money market side, the central bank conducted a 14-day reverse repurchase operation of 460 billion yuan today, with the winning rate at 1.85%, the same as before.

on the news front, pan gongsheng, governor of the people's bank of china, said that the people's bank of china has created structural monetary policy tools for the first time to support the capital market. one of them is the securities, funds, and insurance companies swap facility, which supports eligible securities, funds, and insurance companies to use their own bonds, stock etfs, and csi 300 constituent stocks as collateral to exchange for high-liquidity assets such as treasury bonds and central bank bills from the central bank. this policy will greatly increase the funds obtained and stock holdings of relevant institutions. the funds obtained by institutions through this tool can only be used to invest in the stock market. the scale of the first phase of the swap facility operation is 500 billion yuan, and the scale can be expanded in the future depending on the situation.

wu qing, chairman of the china securities regulatory commission, said that the market value management guidelines will be publicly solicited for comments in the near future, requiring companies with long-term negative net assets to formulate value enhancement plans, evaluate the implementation effects, and disclose them publicly. it is necessary to form some market constraints, take real responsibilities, and formulate a good market value management system. at the same time, listed companies should improve their compliance awareness and cannot use the name of market value management to implement market manipulation, insider trading and other illegal and irregular behaviors.

in terms of sectors, major financial stocks exploded across the board, with more than 10 stocks such as pacific securities, tianfeng securities, cofco capital, and hongye futures hitting their daily limit. stocks with chinese characters in their names and concept stocks of state-owned enterprise reform rose during the session, with more than 20 stocks such as zhongcheng shares, minmetals capital, citic offshore helicopters, and shanghai jiubai hitting their daily limit.

china's steel industry has entered a period of reduced development. faced with the upcoming national carbon trading, china should support the energy-saving and carbon-reducing transformation of long-process equipment and the development of electric furnace steel, and invest cautiously in the construction of new long-process equipment. in addition, enterprises producing high-end products should actively deploy hydrogen metallurgical production technology.

recently, the central government has made clear arrangements for ultra-long-term special government bonds to further support the replacement of old consumer goods with new ones. relevant departments have successively released the latest implementation details of the replacement of old consumer goods with new ones in the automobile and home appliance sectors. the medium- and long-term fundamentals of steel are positive.

here, we introduce 4 companies by integrating the latest research reports from multiple brokerage firms for your reference only.

1. shengde xintai

the company focuses on the manufacturing of small-diameter seamless steel pipes for energy use. while its production capacity is expanding, the continued improvement in downstream demand effectively supports its profit release. the increase in the proportion of high-end products is expected to support its higher valuation.

2. bayi steel

the company is the largest steel company in xinjiang and the only listed steel company in xinjiang. it has an annual steel production capacity of 8 million tons, a coking coal production base and a metal product processing base, and a complete steel industry chain. the company has a full range of products. in addition to being sold locally in xinjiang, its products are also extended to the northwest, southwest, and east china, and exported to central asia and russia through distributors. in the future, the company is expected to benefit from the continued development of the "belt and road initiative", and its performance still has room for improvement.

3. new steel co., ltd.

after baowu's entry, the company is expected to improve its management level, production technology and product structure, and the company has a lot of room for improvement.

4. honglu steel structure

the company has worked closely with first-class steel mills and coating suppliers, and has signed strategic cooperation agreements with baosteel, ma steel, shagang, jotun, pgg, etc., to consolidate its procurement cost advantage. in 2023, it will achieve further breakthroughs, develop a "lightweight arc welding robot intelligent welding system", realize seamless connection between the information management platform and laser intelligent cutting equipment, and take the lead in improving product quality. at present, part of the company's ten major production bases have been put into use, and long-term cost reduction and efficiency improvement can be expected.

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