Key recommendations
Central Reform Commission considered and adopted the "GEM reform and pilot registration system overall implementation plan"
Chinese Academy of Information and Communication Technology: the first quarter of the 57 section of the 5G cell phone application for access to the network
Market review
Market review: the pre-holiday wait-and-see mood is thickened, the operation of the short-term recommendations should not be aggressive, to remain cautiously optimistic Cautious optimism
Macro viewpoint: the pace of the pharmaceutical industry procurement landing is expected to speed up the three main lines of gold segment leading benefit
New energy vehicles: new energy vehicles in the field of good policy frequently, the relevant industry chain will benefit
Futures Intelligence
Metal energy: gold 380.80, down 0.24%; copper 42430, up 1.56%; rebar 3303, down 0.57%; rubber 10195, down 0.49%; PVC index 5405, up 0.84%; Shanghai aluminum 12350,up 0.78%; Shanghai nickel 101530, up 1.21%; iron ore 603.0, down 0.82%; coke 1702.0, up 0.21%; coking coal 1082.0, down 1.64% Brent oil 27.12, down 5.27%; Shanghai tin 130670, up 3.24%; LPG 3576, up 6.18%; Zheng alcohol 1672,down 3.02%; fiberboard 1273, down 4.64%; crude oil 243.5, down 5.25%; fuel oil 1407, down 8.10%;
Agricultural products: soybean oil 5364,down 1.94%
Exchange rates: EUR/USD 1.08, up 0.07%; USD/CNY 7.08, flat; USD/HKD 7.75, flat.
Two, key recommendations
1, the Central Deepening Reform Commission considered and passed the "GEM reform and pilot registration system overall implementation program"
Event: April 27 news broadcast reported that the Central Comprehensive Deepening Reform Commission, the thirteenth meeting of the Commission considered and passed the "GEM reform and pilot registration system overall implementation program".
Comment: Promoting the reform of GEM and piloting the registration system is an important arrangement to deepen the reform of the capital market, improve the basic system of the capital market and enhance the function of the capital market. With the gradual promotion of the registration system, the stock "scarcity" will be greatly reduced, "shell" value will tend to disappear, the future market will show more obvious structural market.
(Investment Advisor Zhong Yanling Registered Investment Advisor Certificate No.: S0260613020024)
2, China ICT: the first quarter of the 57 models of 5G cell phone applications into the network
Event: April 27, the China Information and Communications Technology Institute released a report that the first quarter, China's cell phone market continues to be the transition from 4G to 5G, 5G cell phone product 4G cell phone product models accounted for more than half. 4G cell phone product models accounted for a continuous decline; 4G cell phone frequency characteristics have not changed much, 4G cell phone product transmission capacity level is a low rate development; Android version 10 operating system product models accounted for the first leap. According to the statistical analysis of Thiel Terminal Laboratory of China Academy of Information and Communication Research, 106 models of cell phone products applied for network access in the first quarter, of which 57 models of 5G cell phones accounted for 53.77% of the models, an increase of 14.7 percentage points compared with the fourth quarter of 2019; of which 37 models of 4G cell phones accounted for 34.91% of the models, and compared with the first quarter of 2019, the models of 4G cell phones accounted for a decrease of 49.5 percentage points compared to the fourth quarter of 2019, a decrease of 8.1 percentage points. 2G cell phone models accounted for 11.32%.
Comment:With the rapid price drop of 5G cell phones and the vigorous promotion of major cell phone manufacturers, overlaid with the advancement of 5G commercialization, 5G cell phones are gradually replacing 4G cell phones as the mainstream. This will bring a new round of replacement, cell phone industry chain related companies are expected to benefit.
(Investment Adviser Zhong Yanling Registered Investment Adviser Certificate No.: S0260613020024)
Three, the market review
Market Review: the pre-holiday wait-and-see mood to add thick, the operation suggests that the short-term should not be aggressive, to remain cautiously optimistic
Monday's three major market indexes showed a high and narrow oscillating consolidation of the market as of the close of trading, the Shanghai index rose 0.25%, the Shanghai index rose 0.25%, the Shanghai index rose 0.25%, the Shanghai index rose 0.25%, the Shanghai index rose 0.25%. Shanghai index rose 0.25%, at 2815.49 points, the Shenzhen Composite Index rose 0.28%, at 10,452.5 points, the creation of the index rose 0.74%, at 2018.67 points. The major stock indexes closed slightly positive, and the turnover of the two cities was 556.6 billion. The northward capital net inflow of 3.938 billion yuan for the whole day, plate observation, banks, IPTv6, highways, pesticides and veterinary drugs and other plates rose, shipbuilding, precious metals, human brain engineering, photoresist and other plates fell. Market plate differentiation is still more obvious, maintain the structural local market active, May Day holiday is approaching, the wait-and-see mood thick, is expected to continue the pre-holiday repeated shocks consolidation market is mainly, the operation is recommended that the short-term should not be aggressive, remain cautiously optimistic, the middle line can be low attention to large consumer, large financial, new infrastructure, bio-vaccines, new energy and other boards. The stock market is risky, investment needs to be cautious.
(Investment adviser? Gu Zhixiong? Registered Investment Advisor Certificate No.: S02606611020066)
Macro Viewpoint: the pace of the pharmaceutical industry set procurement landing is expected to speed up, three main lines of gold segmented leading benefit
Event: since 2018, the direction of the industry's policies have been clear, and it is expected that 2020 is still in the stage of intensive promotion of the industry's policies. With the second round of collection and procurement, it is recommended to avoid the policy suppression areas, adhere to the policy immunity and in line with the industry development trend of high boom segmentation leader, from the differentiation to find the scattered pearls.
Comment: the set of landing is expected to accelerate the differentiation of the industry, the leading segments will continue to benefit, it is recommended that three major aspects of the layout to grasp the relevant opportunities, 1) main line one: innovation industry chain, with the improvement of technological strength and the approval of the environment to improve, China's pharmaceutical industry ushered in a period of harvest of independent innovation, and at the same time activate the CRO, CMO and other related outsourcing industry chain; 2) main line two: high-end medical imaging industry chain, benefiting from the large equipment configuration license relaxation, especially the related contrast agent consumables will continue to fully benefit the industry chain; 3) Main line three: medical consumption upgrade track, including oral health care, ophthalmology, medical beauty, physical examination and other medical services and related equipment consumables field.
(Investment adviser? Gu Zhixiong? Registered Investment Adviser Certificate No.: S02606611020066)
New energy vehicles: new energy vehicles in the field of good policy frequently, the relevant industry chain will benefit
With the subsidies landing, superimposed on the domestic epidemic under control after the willingness to buy a car revealed, new energy vehicle production and sales are expected to accelerate the recovery from May, it is expected that the annual new energy vehicle production and sales or will achieve 10% growth, reaching 1.3 million or more. It is expected that the annual production and sales of new energy vehicles may achieve 10% growth, reaching more than 1.3 million vehicles. The subsidy program mentioned 2 million vehicles / year subsidy ceiling constraints, is expected to have an impact in 2022, or will cause the first half of 2022, "rush to install" sales peak. Recommended "strong and strong" and "lithium iron tide" two main lines.
(Investment Advisor C.H. Ku Registered Investment Advisor Certificate No.: S02606611020066)