Selected financial news
First disclosure of this year's central enterprise growth target State-owned enterprises "14th Five-Year Plan" ideas exposure Debt defaults have also been mentioned
February 23rd, the State Council Information Office held a The State Council held a press conference on the reform and development of state-owned enterprises.
Hao Peng, director of the State Council State-owned Assets Supervision and Administration Commission (SASAC), introduced at the meeting, the SASAC put forward this year, the central enterprise's business objectives are to promote the central enterprise's net profit, total profit growth rate should be higher than the growth rate of the national economy, operating income profitability, R & D investment intensity, full labor productivity should be significantly improved, but also to keep the balance sheet ratio of the sound and controllable. The conference also responded to the debt default of local state-owned enterprises, state-owned enterprises "14th Five-Year Plan" strategic planning progress and other widely publicized issues. According to the press release, the government is studying and formulating a guideline to strengthen the debt risk management and control of local state-owned enterprises.
Source: China Fund News
State news office conference: three-year action task of state-owned enterprise reform this year to complete more than 70%
February 23 afternoon, the State Council Information Office held a news conference, the person in charge of the State-owned Assets Supervision and Administration Commission introduced the deepening of the reform and development of state-owned enterprises related to the situation. This year, the central enterprise's business objectives is to promote the central enterprise net profit, total profit growth rate should be higher than the growth rate of the national economy, operating income profitability, research and development investment intensity, full labor productivity should be significantly improved, but also to maintain a sound and controllable asset-liability ratio.
Source: CCTV (News Feed)
China's logistics industry in 2020 to improve the quality and efficiency of the results of the obvious
Chinese Federation of Logistics and Purchasing announced on February 23: 2020 China's logistics scale to a new step of 300 trillion yuan, the total income of the logistics industry for 10.5 trillion yuan, an increase of 2.2%. Driven by policies such as tax cuts and fee reductions, logistics operations to achieve quality and efficiency, unit logistics cost growth slowed down significantly.
Source: CCTV (News Feed)
CSA: Securities industry to realize net profit of 157.534 billion yuan in 2020, a year-on-year increase of 27.98%
China Securities Association released the 2020 annual operating data of the securities companies, the performance of the securities industry to maintain growth, and the size of the asset scale steadily improved . The securities industry in 2020 realized operating income of 448.479 billion yuan, up 24.41% year-on-year; realized net profit of 157.534 billion yuan, up 27.98% year-on-year, and 127 securities companies realized profits. As of December 31, 2020, the securities industry had total assets of 8.90 trillion yuan and net assets of 2.31 trillion yuan, up 22.50% and 14.10% year-on-year, respectively.
Source: securitiestimes.com
Keyboard "into the rich" 4 linkage funds issued
Recently, the FTSE Russell official website announced that it will include 50 Keyboard stocks in the FTSE Global Including A-share Index, and 7 Keyboard stocks in the FTSE Emerging Markets Index, which is scheduled to take effect on March 22, a move that will result in $100 million in passive inflows into Techtronics. In addition, subscriptions will soon begin for four Tech ETF feeder funds, each with a fundraising target of 5 billion shares.
Source: Daily Economic News
(Investment adviser? Cai Jin? Registered Investment Adviser Certificate No.: S0260611090020)Market Hot Spot Focus
Market Commentary: The index rushed high and retreated, the cyclical stocks were divergent trends
Tuesday's two markets, the broader market index oscillated and adjusted the market's total turnover compared to the previous trading day. The total market turnover decreased compared to the previous trading day. Specifically, as of the close of the Shanghai index fell 0.17% to close at 3636.36 points, the Shenzhen Composite Index fell 0.61% to close at 15,243.3 points, the GEM fell 0.84% to close at 3112.36 points.
On the disk, aerospace military stocks, medical and beauty concept stocks, pharmaceutical stocks and rare earth concept stocks were active and rose, while agricultural stocks and coal stocks performed poorly. The market appeared style switching, pre-holding a line of blue chips continuously weakened, small-cap stocks performed relatively strong. From the trend, the index appeared weak rebound, intraday high after falling back, the upper pressure, the market is expected to maintain the trend of shock.
Operationally, it is not recommended to blindly chasing high, the position is maintained at less than 70%; opportunities, pay attention to bank stocks, colored, chemical and other cyclical stocks, as well as the performance of the individual stocks to the good.
(Investment adviser? Yu Dechao? Registered Investment Advisor Certificate No.: S0260613080021)
Macro Viewpoint: SASAC: Increase investment in national defense and military industry, backbone network, new infrastructure and other areas
Peng Huagang, secretary-general of the State Council's State-owned Assets Supervision and Administration Commission (SASAC) and spokesman for the press, said the State Council's SASAC will focus on the following next step Strategic security, industrial leadership, national livelihood, public **** services and other functions, to support the central enterprises in accordance with the principle of marketization, take restructuring and integration and other ways to speed up the layout optimization and structural adjustment of state-owned capital. There are several main considerations:
One is to promote state-owned capital to the important industries and fields related to national security and the lifeblood of the national economy, and to increase investment in the national defense and military industry, energy resources and food supply, backbone network, new infrastructure and other fields.
The second is to make up for the short boards of the industrial chain supply chain, and to improve the supply chain security capacity and the ability of the industrial system to withstand shocks.
Thirdly, we will promote the integration and synergy of innovation resources, and accelerate the breakthrough of a number of industry *** technologies and key core technologies.
The fourth is to effectively solve the problems of similar products, resource dispersion and duplication of construction among some central enterprises, and to form a synergy of resources.
Source: Securities Times Network
Comment: Promote state-owned capital to the important industries and fields related to national security and the lifeblood of the national economy to focus on, increase the national defense and military industry, energy resources, food supply, backbone network, new infrastructure and other areas of investment, in the short term, will enhance the market attention of the relevant plates. With the approach of the two sessions, the military budget, 14th Five-Year Plan and other issues of great concern to the market will come out one after another, which may also form a stimulus to the short-term trend of the military industry sector.
(Investment adviser? Cai Jin? Registered investment adviser certificate number: S0260611090020)Medical beauty services industry: medical beauty market is expected to benefit from the huge population penetration rate continues to improve
China's medical beauty services market size to maintain a relatively rapid growth, is expected to maintain a more than 20% compounded growth to 2023: China's medical beauty market in 2012 was only 2.5 percent. Medical aesthetics market was only 29.8 billion yuan in 2012, to 176.9 billion yuan in 2019, with a CAGR of 28.97% from 2012 to 2019, while it is expected to be 311.5 billion yuan in 2023, with a CAGR of 20.76% from 2019 to 2023. China's non-surgical medical aesthetics market is growing at a faster rate and its share continues to increase, with the share continuing to rise at an annual increase of 0.7%.
China's female population aged 20~54 years old remains stable, with 370 million women aged 20 to 54 years old in China in 2018. Medical aesthetic consumers are mainly distributed in women aged 18~40 years old, and the penetration rate of medical aesthetic users among women aged 18~40 years old in China was only 7.4% in 2017, much lower than South Korea's 42%; compared with other developed countries, the penetration rate of medical aesthetic programs in China is still very low, with the number of people receiving medical aesthetic treatment per 1,000 people being only 14.5 in 2018, compared with 52.3 in the United States and South Korea's 89.3 people.
Source: Research report of Huaxi Securities
Comment:China's medical aesthetic service market size maintains relatively rapid growth, and is expected to maintain a compound growth of more than 20% within 2023. Compared with other developed countries, China's medical aesthetic program penetration rate is still very low, the market space is huge, it is recommended to pay attention to the head of the medical aesthetic plate companies.
(Investment adviser Yu Dechao Registered Investment Adviser Certificate No.: S0260613080021)
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