Yesterday, the Prev Index fluctuated and rose within a narrow range, while the Shenzhen Component Index and the ChiNext Index fell weakly. As of the close, the Shanghai Index rose slightly by 0.07% to 3232.44 points, the Shenzhen Component Index fell 0.47% to 10946.08 points, and the ChiNext Index fell 1.39% to 2202.14 points; the total turnover of the two cities was 873.8 billion yuan, a decrease of 66.8 billion yuan from the previous trading day; The net sale of northbound funds was about 1.2 billion yuan. In terms of industries, the media sector has risen sharply, tourism and hotel, textile and clothing, retail, gas, automobile, pharmaceutical, banking and other sectors are all strong, online games, sports concepts, 6G concepts, etc. are active; wine stocks are weak.
Guosheng Securities pointed out that large-scale A-shares are in the bottom area, and the overall valuation is still low. The atmosphere in the market on Monday is in line with the characteristics of a rising relay. The current opportunities outweigh the risks. In addition, the Kechuang 50ETF option contract is listed and traded, and the continuous enrichment of hedging tools will decrease. Irrational fluctuations and the introduction of the short-selling mechanism are also conducive to the entry of large funds, which is good for long-term funds. Adhere to and consolidate at the policy level, the core position of innovation in the overall situation of my country’s modernization, the return of the fine tradition of self-reliance, domestic substitution can effectively guarantee national security; the external situation is complex, continue to focus on the logic of “pan-national security”, and focus on low-level and high-prosperity industries branch.
Analysis of investment opportunities today:
Apple released the first MR head display industry chain stocks welcome opportunities
In the early morning of June 6, 2023, Beijing time, Apple released its first MR headset product as scheduled. The product is named Apple Vision Pro and is priced at US$3,499. It is expected that the product will be on sale in 2024.
CITIC Securities pointed out that as Apple’s first head-mounted display product, although the mass production time is lower than the market’s early expectations, the product has outstanding performance in terms of interaction and device collaboration, and at the same time, it has exceeded expectations on the application side. It continues to be optimistic about Apple in the medium and long term. The iteration of MR headsets and the opportunities for related industry chain companies.
Overall, in terms of display and optics, it is expected that Apple will adopt Sony’s MicroOLED screen, Yujingguang/Yangming Optical’s Pancake lens, Sony’s cis sensor, and Largan’s lens; the domestic supply chain will mainly focus on parts and equipment. , It is expected that Cowell Electronics will cut into the supply of its camera module, Zhaowei Electromechanical will supply its interpupillary distance adjustment module, Desai Battery will supply its battery pack link, Pengding Holdings, Dongshan Precision will supply FPC, Lens Technology, Everwin Precision, Song Seoul Co., Ltd. and Lingyi Zhizao supply relevant functional parts and structural parts, Sudaweige supplies diffractive optical devices, Bozhong Seiko, Saiteng Co., Ltd., Zhicube, JPT, Huaxing Yuanchuang supply related equipment, etc.
Automotive electronic rearview mirrors are about to hit the road and related companies hope to benefit
The National Standard No. GB15084-2022 “Performance and Installation Requirements for Motor Vehicle Indirect Vision Devices” will be officially implemented on July 1, 2023. This new national standard has added “Camera-Monitor System (CMS)”, ” Mirror and CMS dual-function system” means that cars will soon be equipped with electronic rearview mirrors to replace traditional optical rearview mirrors on the road.
Prior to the Shanghai Auto Show, models equipped with electronic rearview mirrors had appeared. At present, Xiaopeng G7, BAIC Rubik’s Cube, Geely Lotus EL-ET-RE, GAC Aian, Honda, Human Horizons and other automakers have clearly confirmed that they will be equipped with CMS.
Zheshang Securities stated that the introduction of the new national standard has boosted the rapid development of the domestic electronic rearview mirror industry. The agency predicts that the overall market size of domestic electronic rearview mirrors (inside + outside) will exceed 6 billion yuan in 2025.
In terms of A-share listed companies, Akita Micro recently stated that the “streaming media rearview mirror LCD light valve” independently developed by the company has the characteristics of automatic switching of three functions: physical mirror, anti-glare, and streaming media display, which can improve driving safety and security. The degree of intelligence can be applied to car smart cockpit rearview mirrors. The company has achieved mass production and sales of this technology.
Huayang Group stated that the company’s electronic exterior mirror products have currently obtained customer-designated projects and pre-research projects for new forces and joint venture brand car companies.
Weishi Electronics said that in terms of products related to electronic rearview mirrors, the company has already obtained a fixed-point order from Company B, a leading domestic new energy car company.
TOPCon battery or tight supply and demand
The development of N-type batteries is an inevitable trend in the industry, and TOPCon battery technology has become one of the important directions of N-type battery technology. According to the expansion situation and plans announced by various companies, by the end of 2022, the production capacity of TOPCon batteries in the market has exceeded 40GW. We expect that the new production capacity of TOPCon batteries will exceed 150GW in 2023. In addition, the TOPCon battery production line is compatible with the PERC battery production line, among which more than 100GW of PERC production capacity is feasible and competitive to be upgraded to TOPCon. But at present, the production capacity release of TOPCon batteries is not as expected. On the one hand, the selection of process routes is relatively diverse; on the other hand, the maturity and stability of the preparation process still need to be improved.
CITIC Securities said that as N-type batteries are gradually put on the market, based on the higher efficiency and lower temperature coefficient of N-type batteries, and the cost-effective advantages gradually become prominent as the cost declines, the market’s acceptance of N-type products is getting higher and higher. On the one hand, domestic PV developers have stipulated the bidding scale of N-type module products in the bidding; on the other hand, the distributed PV market in Europe has a strong demand for TOPCon products. In this case, N-type and other high-efficiency cells with obvious cost-effective advantages may face a structurally tense situation and will maintain a premium level for a long time, while leading manufacturers with a variety of new high-efficiency cell capacities and products are expected to further increase Consolidate profit advantage. At the same time, the continuous expansion of production capacity will also bring about an increase in demand for equipment and materials.
Other market-moving news:
The supporting policies for the construction of a unified national market will be accelerated and improved
On June 5, the State Council Information Office held a regular policy briefing of the State Council. Li Chunlin, deputy director of the National Development and Reform Commission, said that since the “Opinions on Accelerating the Construction of a National Unified Large Market” was issued and implemented last year, with the joint efforts of all parties, the construction of a national unified large market The market has achieved initial results. The related major reform deployment has played a positive role in stabilizing development expectations, releasing market vitality, reducing transaction costs, and promoting smooth circulation.
Li Chunlin said that in the next step, the National Development and Reform Commission will work with relevant parties to improve the unified land and labor markets in urban and rural areas, accelerate the development of a unified capital market, accelerate the cultivation of a unified technology and data market, break the factor market segmentation and multi-track operation, and promote the development of various fields. Factor market systems cooperate with each other in policy orientation, promote each other in the implementation process, and complement each other in reform effectiveness.
Passenger Federation: It is estimated that the wholesale sales of new energy passenger vehicles in May will increase by 59% year-on-year
On June 5, the Passenger Passenger Association issued a forecast for the new energy passenger car market in May. It is comprehensively estimated that the wholesale sales of new energy passenger car manufacturers in the Passenger Passenger Association in May will be 670,000 units, an increase of 11% month-on-month and a year-on-year increase of 59%. It is estimated that from January to May, the nationwide wholesale of new energy vehicles by passenger car manufacturers will reach 2.78 million, a year-on-year increase of 46%.
According to the Federation of Passengers and Passengers, the new energy vehicle market will gradually increase in 2023. With the launch of a large number of competitive new products, price promotions will continue to increase, and consumers will gradually release their enthusiasm for buying. The market has returned to strong growth characteristics, and the overall auto market continued the strong trend in April, with sales hitting a new high this year.
Ministry of Education: The market price of non-disciplinary off-campus training is included in the monitoring and early warning system
In order to deepen the governance of non-disciplinary training, the Ministry of Education commissioned the Price Monitoring Center of the National Development and Reform Commission to provide 11 non-disciplinary training services in 10 cities including Beijing, Shanghai, Shenyang, Nanjing, Zhengzhou, Wuhan, Guangzhou, Shenzhen, Chengdu, and Xi’an. The market price of the project is monitored.
In the next step, the Ministry of Education will work with relevant departments to promote the construction of a non-disciplinary training price monitoring system, deeply implement the special action of “safe consumption” for off-campus training, strengthen the dispatching and guidance of 10 steering groups stationed in key areas such as Beijing, Liaoning, and Shanghai, and supervise all regions Strictly investigate price violations of non-disciplinary training institutions to prevent abnormally high prices in individual regions or service items.
Four departments issued documents to promote the development, manufacture, promotion and application of agricultural machinery equipment
Recently, the Ministry of Agriculture and Rural Affairs, the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Finance jointly issued the “Notice on the Construction of Pioneer Areas for R&D, Manufacturing, Promotion and Application of “One Large and Small” Agricultural Machinery Equipment in Several Provinces”, proposing to focus on solving Large-scale, high-horsepower, high-end intelligent agricultural machinery equipment and small machinery suitable for hilly and mountainous areas have two shortcomings of “one large and one small”, and promote the joint efforts of agricultural machinery enterprises, agricultural machinery-related scientific research institutes, agricultural machinery promotion agencies and various subjects of agricultural machinery application to form independent A high-quality agricultural mechanization industrial ecology that is controllable and highly competitive.
The “Notice” clarifies that Heilongjiang Province and Beidahuang Agricultural Reclamation Group Co., Ltd. will respectively build pilot areas for the R&D, manufacturing, promotion and application of large-scale high-end intelligent agricultural machinery equipment; Pioneering area for R&D, manufacturing, popularization and application of small machinery.
State-owned Assets Supervision and Administration Commission: Power generation enterprises should make all the power, and make more and more power
On June 1, the State-owned Assets Supervision and Administration Commission organized a special meeting on energy and power supply for some central enterprises to meet the peak summer in Guangzhou, conscientiously implement the decision-making and deployment of the Party Central Committee and the State Council, and urge and guide central enterprises to take the lead in ensuring energy and power supply for the summer peak Work.
The meeting requested that all central enterprises should continue to enhance the support and role of central enterprises in ensuring the supply of energy and electricity. Coal, petroleum and petrochemical enterprises should focus on improving the supply capacity of electricity, coal and natural gas; power generation enterprises should make full use of power generation, and power grid enterprises should stick to the lifeline of power grid safety and the bottom line of electricity consumption for people’s livelihood, and make every effort to ensure the safety and reliability of energy and power during peak summer supply.
The National Integrated Computing Power Computing Network Dispatch Platform is Officially Released
On June 5, the “Computing Power Innovation and Development Summit Forum” sponsored by the Ministry of Industry and Information Technology and undertaken by China Academy of Information and Communications Technology was successfully held in Beijing. At the meeting, China Academy of Information and Communications Technology and China Telecom jointly released my country’s first national platform to realize multiple heterogeneous computing power scheduling – “National Integrated Computing Power Network Scheduling Platform (Version 1.0)”.
Passenger Federation: Tesla China delivered over 77,000 vehicles in May
On June 5, the Passenger Federation released the estimated sales of new energy vehicles. Tesla Shanghai Gigafactory delivered 77,695 vehicles in May, a year-on-year increase of 142%. In the global market, Tesla also performed well. According to data from overseas analysis agency JATO Dynamics, Model Y will top the sales in the first quarter of 2023, firmly ranking first in the industry as a pure electric vehicle.
21 companies including Tencent Holdings and Alibaba were designated as dual-counter securities
HKEX said on June 5 that the dual-counter model will be launched on June 19, 2023, and that pre-launch testing for exchange participants will take place on June 17. The Hong Kong Stock Exchange made it clear that as of the date of issuance of the notice, 21 securities will be designated by the exchange as dual-counter securities, which will take effect from the launch of the dual-counter model, including Tencent Holdings, Kuaishou Technology, Meituan, Hang Seng Bank, Sun Hung Kai Properties, Hong Kong Stock Exchange , Jingdong Group, Baidu, Alibaba, etc.
The iPhone 15 series will soon be mass-produced in Zhengzhou
According to media reports, the iPhone 15 series has completed trial production at Hon Hai Foxconn, and will be mass-produced at Zhengzhou Foxconn before the end of this month. Apple has set a very large stocking target, with a figure of 85-90 million units. In order to meet the demand for production and supply, Hon Hai Foxconn also specially increased the signing bonus for new employees. In addition, Shenzhen Luxshare Precision will serve as the second supplier of the two Pro series, which aims to diversify the supply chain.
As usual, Apple will hold its annual autumn new product launch event in September this year, when the iPhone 15 series will officially meet with users. Previously, according to industry news, the iPhone 15 series may use a new 48-megapixel sensor, and use the smart island function and USB-C interface.