【Global Market】
Last Friday, Eastern Time, the three major U.S. stock indexes rose across the board, and the Nasdaq and S&P 500 continued to hit record highs. As of the close, the Dow rose by 242.68 points to 35455.8 points, an increase of 0.69%; the Nasdaq rose 183.69 points to 1,5129.5 points, an increase of 1.23%; the S&P 500 index rose 39.37 points to 4,509.37 points, an increase of 0.88%. This week, the Dow Jones Industrial Average gained 0.96%, the Nasdaq gained 2.82%, and the S&P 500 gained 1.52%.
The Hang Seng Night Market Futures Index closed at 25,425 points, up 17 points, or 0.23%.
【Macro Sankei】
National Bureau of Statistics:In July, industrial enterprises above designated size achieved a total profit of 703.67 billion yuan, a year-on-year increase of 16.4%. From January to July, the national industrial enterprises above designated size achieved a total profit of 492.395 billion yuan, a year-on-year increase of 57.3% (calculated on a comparable basis), an increase of 44.6% from January to July 2019, and an average increase of 20.2% over the two years.
ecompany:According to the foreign exchange bureau, in July, China’s foreign exchange market totaled RMB 21.32 trillion (equivalent to USD 3.29 trillion). From January to July 2021, China’s foreign exchange market totaled 133.95 trillion yuan (equivalent to 20.70 trillion U.S. dollars).
CCTV News:In recent years, the taxation department has continued to strengthen the taxation supervision of high-income groups and high-risk industries, and, in conjunction with relevant departments, has carried out in-depth comprehensive management of the taxation order of the film and television industry. In response to the current new methods of tax evasion by individual practitioners in the film and television industry, the taxation department will work closely with the competent authorities of radio, television, film and other industries to strengthen legal publicity and education for film and television companies and practitioners, protect the legal rights and interests of film and television companies and employees, and improve cross-border The department’s normalized and linked supervision mechanism continues to improve the ability of precise supervision, intensifies the “double random, one open” spot check, severely investigates and exposes various malicious tax evasion behaviors, further regulates the taxation order of the film and television industry, promotes the core socialist values, and promotes The film and television industry has long-term healthy and standardized development.
ecompany:The State Council recently issued the “14th Five-Year Plan for Employment Promotion.” The “Plan” clarifies the basic principles of employment promotion during the “14th Five-Year Plan” period, namely, adhere to employment orientation, policy coordination, adhere to expansion and quality improvement, optimizing structure, adhere to market leadership, government regulation, adhere to focus on key points, and maintain the bottom line. The “Plan” proposes that by 2025, the overall employment situation will be stable, the quality of employment will be steadily improved, structural employment contradictions will be effectively alleviated, the employment momentum driven by entrepreneurship will continue to be released, and risk response capabilities will be significantly enhanced.
Xinhua Finance:In order to enhance the scientificity and standardization of medical beauty advertising supervision rules, and safeguard the legitimate rights and interests of consumers, the State Administration of Market Supervision has studied and drafted the “Medical Beauty Advertising Law Enforcement Guidelines (Draft for Comment)”, which is now open to the public for comments. It is intended to improperly associate poor appearance with negative evaluation factors such as “low energy,” “laziness,” and “poverty”, or improperly associate good looks with positive evaluation factors such as “high quality,” “diligence,” and “success”. 10 kinds of situations, such as connection, will be focused on.
Securities Times Network:Issued by the Ministry of TransportCRRCOpinions of the Group on the development and application of green intelligent transportation equipment and other transportation power building pilot work: agree in principle in the development and application of green intelligent transportation equipment, the development and engineering application of medium and high speed maglev trains, the development and engineering application of smart urban rail subway trains, Pilot projects have been carried out in areas such as research on key technologies of new energy vehicles and offshore equipment.
Netcom China:The Cyberspace Administration of ChinaInformation serviceAlgorithm Recommendation Management Regulations (Draft for Solicitation of Comments)” for public comments. The opinion puts forward that algorithm recommendation service providers must not use algorithms to falsely register accounts, illegal trading accounts, manipulate user accounts, or falsely like, comment, forward, or navigate through web pages to implement traffic fraud or traffic hijacking; algorithms must not be used to block information or excessive Recommending, manipulating lists or sorting search results, controlling hot searches or selections, etc. interfere with the presentation of information, implement self-preferential treatment, unfair competition, influence online public opinion, or evade supervision, etc.
【Company News】
Junshi Bio(01877): The U.S. resumes distribution of esvirizumab and banivirimab double antibody therapy
China Pacific Insurance(02601) The change in accounting estimates reduces the total interim profit of 4.387 billion yuan
Shanghai Fudan(01385) It is planned to use part of the over-raised funds of 24 million yuan for the permanent supplement of working capital
Shanghai Fudan(01385) Intended to use no more than 250 million yuan temporarily idle raised funds for cash management
Shanghai Fudan(01385) Proposed to increase the daily connected transaction quota with Fudan Communication to 200 million yuan in 2021
【Financial Report Data】
Turn a loss into a profit China Petroleum & Chemical Corporation(00386) In the first half of the yearNet profit39.153 billion yuan
Chongqing Iron and Steel Co., Ltd.(01053) Mid-term net profit attributable to the parent increased by 21.22 times year-on-year to 2.697 billion yuan
Chongqing Iron and Steel Co., Ltd.(01053)Hot coil sales in the first half of the year were 2.453 million tons
Anhui Expressway(00995) Mid-termshareholderAttributable profit increased by 555.42% year-on-year to 709 million yuan
China High Speed Transmission(00658) Interim profit attributable to shareholders increased by 139% to 723 million yuan
Tianjin Port Development(03382) Interim profit attributable to shareholders increased by 90.01% year-on-year to HK$418 million
New life insurance achieves rapid growthChina Pacific Insurance(02601) Interim net profit increased by 21.5% year-on-year to 17.304 billion yuan
Kanglong Chemical(03759) Interim profit attributable to shareholders increased by 17.93% year-on-year to 565 million yuan
Shandong Xinhua Pharmaceutical Co., Ltd.(00719) Interim net profit attributable to shareholders increased by 16.12% year-on-year to 200 million yuan
Beijing Enterprises Clean Energy Group(01250) Interim profit attributable to shareholders increased by 1.74% year-on-year to HK$340 million
Bank of Zhengzhou(06196) Mid-term net profit attributable to the parent increased by 1.49% year-on-year to 2.454 billion yuan
Interim dividend of 2 HK cents per shareChina Holdings(00861) Interim net profit attributable to the parent company decreased by 9.51% year-on-year to HK$220 million
real estateDeclining profitability of development projectsVanke Enterprise(02202) Interim net profit attributable to the parent decreased by 11.68% year-on-year to 11.047 billion yuan
Tianneng Power(00819)：Tianneng shares(688819.SH) Interim net profit attributable to the parent company fell 14.89% year-on-year to 672 million yuan
middleGuohuaRong (02799) profit attributable to shareholders in the first half of the year was 158 million yuan, down 24.6% year-on-year
A large number of impairments are recognized to form a serious lossGuohuaRong (02799) The loss attributable to shareholders in 2020 is 102.903 billion yuan
Chaowei Power(00951) Interim profit attributable to shareholders decreased by 26.2% year-on-year to 300.5 million yuan
VitaFlow sales increase rapidlyXintong Medical-B(02160) Interim net loss decreased by approximately 32.88% year-on-year to RMB 70.65 million
【Change of Equity】
Love Palace(00286): Chairman Zhu Yufei purchased a total of 100 million shares of the company from executive director Zhang Weiquan
Vanke Enterprise(02202) Shareholder Deyuzhong releases andPledge17.4805 million H shares of the company
【Dividend bonus】
China Petroleum & Chemical Corporation(00386) Semi-annual A share cash dividend of RMB 0.16 per share
【Establishing a joint venture】
China Petroleum & Chemical Corporation(00386) SubsidiaryShanghai PetrochemicalWill jointly fund the establishment of a joint venture with Baling Petrochemical
Chongqing Iron and Steel Co., Ltd.(01053) Proposed to invest 49 million yuan to establish a joint venture company with Baowu Environmental Technology
Shanghai Fudan (01385) plans to invest 25 million yuan in Haojun Venture Capital to accelerate its strategic layout in the integrated circuit industry
[Best Ratings]
Motorcycle:China National Petroleum(0857.HK) Interim performance is consistent with profit alert, with target price of HK$4.35 and “overweight” rating
Goldman Sachs:dropSino Land(0083.HK) Target price to HK$14, rating “Buy”
Goldman Sachs:RiseCOSCO SHIPPING Port(1199.HK) Target price to HK$9.5, rating “Buy”
Bank of America Securities: MaintainPing An of China(2318.HK) “Buy” rating target price of 89 Hong Kong dollars
Bank of America Securities: Raises Chinalco (2600.HK) target price to HK$6.8, rating “Buy”
【Market View】
Looking ahead, market participants pointed out that public offeringsfund companyIntensively launching offundThe products are largely derived from the advantages and attractiveness of high-quality new economy companies in the Hong Kong stock market, and their valuations are cheaper than those of the same level in the mainland A-share market.according toCICCAccording to statistics, the current PEG of growth stocks represented by the Hang Seng Technology Index is 1 times, compared with A-share ChiNext (1.7 times PEG) and U.S. stocksNasdaqThe index (1.5 times PEG) has already shown a comparative advantage, and the comparative advantage of some leading growth stocks is even more obvious. What the current market needs may be some catalysts, such as the continued decline in commodity prices, policy support or further economic recovery, etc., but before that, the market may maintain a turbulent pattern.
China Asset ManagementAdvanced strategyAnalystWei Wei believes that Hong Kong stocks are currently considered to be a market that is very attractive for investment. If everyone still stays in Hong Kong stocks and only has the advantage of low valuation, then they will definitely miss the current high-growth new economy of Hong Kong stocks in a new era. Since late February this year, Hong Kong stocks and A-shares have entered an adjustment cycle almost simultaneously. However, judging from the overall volatility or retracement rate, the volatility of Hong Kong stocks is actually significantly lower than that of A-shares.So we see that the attractiveness of Hong Kong stocks is gradually increasing, and funds are constantly increasingNet inflowAmong them, the core logic is that Hong Kong stocks are shifting from a core logic driven by low valuation to technology driven.
Chuangjin HexinHong Kong Stock ConnectBig consumer fund manager Hu Yaosheng also said that the current stage performance of the Hong Kong market is relatively weak, which is an excellent opportunity to build positions. At present, it is more due to the short-term concentrated manifestation of some negative factors and the overshoot caused by emotions.Based on the long-term low in the futureinterest rateIn the low-growth macro environment, Hu Yaosheng believes that the Hong Kong stock market does not have a substantial downward basis. For high-quality stocks with reasonably low valuations, they are increasing positions.Hershey’smachine. At this stage, he is optimistic about the investment opportunities in the consumer industry and the new economy.
The strategy team of the Yuekai Securities Research Institute believes that this year will perform “leading bulls, institutional bulls”.The research of Yuekai Securities found that Hong Kong stocks currently favored by both southbound funds and foreign investors are mainly concentrated inBank、insurance, Pharmaceuticals and biotechnology, real estate, industrial engineering and other sectors, itsInstitutional positionsLong-term stability is the “core asset” of Hong Kong stocks. Among them, the industrial engineering sector has recently received foreign investment and a significant increase in southward capital.
Guosheng Securities’ strategy team pointed out that in 2021, driven by multiple factors such as the resonant recovery of the global economy, increased risk appetite, and the co-inflow of southbound and overseas funds, the Hong Kong stock market is already on its way. It is recommended to deploy Hong Kong stocks along two main lines: one is the technology leader, and the other is the financial and real estate leader with low valuation and high cost performance.
(Source: Hafu Information)
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