Liang Zhou, Vice Chairman of China Banking and Insurance Regulatory Commission, will guide all kinds of medium and long-term funds such as wealth management and insurance funds to enter the capital market
Eight departments including the Ministry of Housing and Urban-Rural Development have issued some opinions on accelerating the industrialization development of new buildings
Market comments
Market comments: Growth Enterprise Market has obvious profit-making effect, and the main board is under short-term pressure
Power transmission and distribution gas: photovoltaic goes against the trend and grows rapidly, and the leading and powerful are strong
New stock tips
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Futures information
Metal energy: gold 416.72, up .4%; Copper 5256, up 2.26%; Rebar 3757, down .3%; Rubber 1253, down .8%; The PVC index was 663, down .23%; Zheng Chun 254, up 1.68%; Shanghai aluminum 1434, up .39%; Shanghai nickel 11969, up .47%; Iron ore 861, up 1.41%; Coke was 236.5, up .89%; Coking coal 1292., up 1.17%; Brent oil was 42.35, down 3.9%; Glass 1761, down .11%; LPG 3488, down 2.8%; Rubber sheeting was 235.85, up by 1.11%; Soda 1799, up 1.87%; PP 7918, down .69%;
Agricultural products: soybean oil 6752, down .27%; Corn 233, up .52%; Palm oil 5838, down 1.32%; Zheng Mian 12915, up .4%; Zheng Mai 2624, up .8%; White sugar 5179, up .97%; Apple 6766, up .34%; Jujube 17, up .55%; Douyi 4525, up 1.3%; Rapeseed 5599, down .83%;
exchange rate: EUR/USD 1.1838, down .12%; USD/RMB 6.8361, down .17%; USD/HK$ 7.755, up .%.
(The above futures data are from Shanghai Futures Exchange, Dalian Commodity Exchange and Zhengzhou Commodity Exchange)
Key recommendation
1. Liang Zhou, Vice Chairman of China Banking and Insurance Regulatory Commission: With the theme of new finance, new opening and new development, the "22 China International Finance Annual Forum" will be held in Beijing on September 6.
Yin Yong, Vice Mayor of Beijing, Chen Yulu, Vice Governor of People's Bank of China, Liang Zhou, Vice Chairman of China Banking and Insurance Regulatory Commission, and Zheng Wei, Deputy Director of State Administration of Foreign Exchange attended the forum and made speeches.
Liang Zhou, vice chairman of China Banking and Insurance Regulatory Commission, said that China Banking and Insurance Regulatory Commission will cultivate the distinctive advantages of non-bank financial institutions, give more prominence to the development of direct financing, vigorously develop the third pillar of endowment insurance in an orderly manner, and guide various medium and long-term funds such as wealth management and insurance funds to enter the capital market.
Comments: In recent years, with the continuous growth of institutional investors, the concept of value investment in the A-share market has become more and more consolidated. Guiding all kinds of medium and long-term funds such as wealth management and insurance funds into the capital market will help to further reduce the proportion of retail investors in the market and make the investment behavior of the market more rational. It is a long-term positive for the market.
(investment consultant? Cai Jin? Registered Investment Consultant CertificateNo.: S2661192)
2. The Ministry of Housing and Urban-Rural Development and other eight departments issued some opinions on accelerating the industrialization of new buildings
In order to fully implement the new development concept, promote the green development and high-quality development of urban and rural construction, promote the comprehensive transformation and upgrading of the construction industry with the industrialization of new buildings, and create an internationally competitive "China Construction" brand, the Ministry of Housing and Urban-Rural Development and other eight departments issued some opinions on accelerating the industrialization of new buildings. The opinion requires that new construction industrialization enterprises be supported to carry out financing by issuing corporate bonds and corporate bonds; Improve the policy environment for green finance to support new building industrialization, actively explore diversified green financial support methods, and give green financial support to new building industrialization projects that meet the green building star standard; Make good use of the national green development fund and encourage all localities to set up special funds without adding hidden debts.
Comments: It is expected that companies mainly involved in steel structure construction, prefabricated buildings, new building materials and other industries will benefit, and relevant stocks will have opportunities to perform actively in the short term.
(investment consultant? Cai Jin? Registered Investment Consultant CertificateNo.: S2661192)
Market Comment
1. Market Comment: Growth Enterprise Market has obvious profit-making effect, and the main board is under short-term pressure
On Friday, the market index of the two cities opened lower and then oscillated higher, with the total market turnover of 838.685 billion, which was significantly smaller than that of Thursday. Specifically, at the close, the Shanghai Composite Index fell .87% to 3,355.37 points, the Shenzhen Component Index fell .84% to 13,656.66 points, and the Growth Enterprise Market fell .54% to 2,732.15 points.
on the face of it, civil aviation airport, chip semiconductor stocks and low-priced growth enterprise market stocks performed strongly, while food and beverage stocks and brewing stocks performed poorly. The trading volume of the GEM is gradually approaching the Shanghai Composite Index. In the short term, the funds in the market prefer the stocks of the GEM. Although junk stocks in low-priced GEM are eye-catching, their fundamentals are obviously difficult to support their stock prices to be active for too long.
in operation, it is not recommended to chase up the low-priced "junk stocks" without performance support on the Growth Enterprise Market. It is recommended to pay attention to cyclical stocks represented by non-ferrous coal, brokerage stocks with gradually adjusted stock prices, and industry stocks with significantly improved interim results and low stock prices.
(investment consultant Yang Dong? Registered investment consultant certificateNo.: S2661587)
2. Power transmission and distribution gas: photovoltaic has increased against the trend, and the leading power is Hengqiang
The high growth of photovoltaic has not been reduced under the disturbance of epidemic situation, and all links (silicon removal materials and batteries) have a high prosperity. The leading power is Hengqiang: 1)2H and 2Q2 revenue and profit have increased strongly: income in the first half of 2 years 1. In 2 years, Q2 revenue was 76.186 billion yuan, up by 52.95%, and the net profit returned to the mother was 7.43 billion yuan, up by 44.71%. 2) The gross profit margin of 2H and 2Q2 decreased slightly, and the net profit margin of 2H and 2Q2 increased sharply from the previous month: the gross profit margin of the whole industry of 2h was 22.77%, with a decrease of .62pct, and the gross profit margin of Q2 was 22.8%, with a decrease of 3.36pct and a decrease of -1.51pct from the previous month. In the past 2 years, the net profit rate of the whole industry was 9.13%, +1.1pct year-on-year, and the net profit rate of Q2 was 9.75%, -.56pct year-on-year and +1.62pct quarter-on-quarter. 3) Cash flow in Q2 has greatly improved: the accounts receivable/accounts received in advance/inventory in Q2 plate increased by +12.69%/-5.21%/+.38% respectively compared with the first quarter, and the net operating cash inflow was 7.367 billion, compared with 4.663 billion in the same period last year. 4) Profit differentiation in each link, and the leading player is Hengqiang: Longji's 2-hour revenue increased by 42.73%, and its performance increased by 14.83% (silicon wafer size structure improved, new capacity was released, and the export structure of components was excellent with high gross profit margin). Jinlang Technology and Sunshine Power Supply's 2-hour performance increased by 281.87% and 34.13% respectively (the overseas proportion of inverters was high, and the domestic leading export market share increased significantly). Follette's 2-hour performance increased by 76.27% (double glass penetration increased, supply and demand were tight) and Foster's 2-hour performance increased by 14.58% (double glass benefited, POE penetration increased, supply and demand were tight). The 2-hour performance of Jiejia Weichuang, Jingsheng Electromechanical Co., Ltd. and Maiwei Co., Ltd. increased by 8.11%, 1.5% and 52.77% respectively (benefiting from the expansion of leading industries). Tongwei's 2-hour revenue increased by 16.21%, while its performance decreased by 3.35% (the prices of Q2 silicon materials and batteries plummeted, the supply of silicon materials was tight in the second half of the year, and the profitability of large-size batteries was divided, which is expected to improve significantly).
Comments: Due to the epidemic situation and explosion accidents in Xinjiang, the shortage of silicon materials is obvious, the prices of silicon wafers, battery chips and components are rising in an all-round way, the domestic demand continues to exceed expectations, and the order capacity of leading enterprises is obvious; This year, the domestic bid is 26GW, and the parity is 33GW, which exceeds expectations. The installed capacity is expected to be 4-5GW this year, 5-6GW next year, 8-9GW overseas this year, and 12-13GW next year, both of which will increase by 5%. With the arrival of the parity era and the beginning of the energy revolution, the sustained high demand growth is worth looking forward to. Large-size /9BB and other new technologies have accelerated the application of leading enterprises. The share of leading enterprises has increased rapidly, and the strong ones have become stronger. We continue to recommend photovoltaic leading enterprises.
(investment consultant Yang Dong? Certificate number of registered investment consultant: S2661587)