The rebound in the A-share market continued, but the overall rebound range of the index is still relatively mild, and the rebound range of the gem index is relatively large.
In terms of sectors, the performance of major industry sectors was flat, and there was no obvious sharp rise. In terms of concept sector, reappearance of “lithium” means a sharp rise in the market.
The performance of the Hong Kong stock market was also relatively stable this morning, but there was a wave of obvious diving near the morning closing.
While Hong Kong stocks fell suddenly, other indexes also changed. The dollar index rose more than 20 points in the short term and stood at the 96 mark. The three major stock index futures indexes of the United States fell, and the A50 Index also plunged suddenly.
the main index of A-Shares rebounded further
reappearance of the sharp rise of “lithium”
Market data show that in the morning, the main indexes of the A-share market are rising, of which the Shanghai index rose 0.35% and the gem index rose 1.46%. The performance of the market sector is generally flat and differentiated. Northbound funds bought a net 2.8 billion yuan in half a day.
One of the obvious features of today’s market is the collective recovery of lithium related stocks, the rise of concepts related to lithium extraction from salt lakes and lithium mines, and the market of “with lithium” is rising again.
Several concept stocks such as Shenzhen Sunrise New Energy Co.Ltd(002256) , Jinyuan Ep Co.Ltd(000546) , Yongxing Special Materials Technology Co.Ltd(002756) , Sinomine Resource Group Co.Ltd(002738) rose by the limit.
In the concept company with a market value of 100 billion, Tianqi Lithium Corporation(002466) hit the daily limit.
Ganfeng Lithium Co.Ltd(002460) soared by more than 8% in the session.
Qinghai Salt Lake Industry Co.Ltd(000792) the intraday increase was more than 6%.
According to the recent research view of Bohai Securities, the global lithium resource reserves are mainly salt lake brine, mainly concentrated in the lithium triangle of South America; The supply is dominated by Australian ore lithium; China is rich in resources but poor in endowment. At present, the global lithium industry is limited by the high concentration of resource supply in Australia. With the increasing expansion of lithium demand, salt lake brine lithium resources will be mainly developed under the strategic needs of diversified types and supply guarantee.
Bohai Securities believes that there is little room for progress in lithium extraction from ore in technology, and lithium extraction from Salt Lake ushers in an inflection point. In the process of lithium extraction, spodumene has little room for short-term progress, and lepidolite will supplement the supply increment; Lithium extraction from salt lakes is becoming mature; Lithium clay has good development prospects. China’s salt lake lithium extraction process has been continuously optimized, and the cost has been reduced, which has economic value, but the current output scale is still small and the utilization rate is insufficient. The agency believes that under the current general trend of new energy, national policies, high industry prosperity and technological process optimization will jointly promote the release of lithium extraction capacity in China’s salt lakes.
Bohai Securities believes that lithium is a cyclical industry with high growth, high voice and high growth period. Lithium industry has the characteristics of typical industrial cycle, but it is in the super cycle of new energy revolution. Driven by the outbreak of new energy vehicles, lithium has entered a rapid growth period. In terms of market structure, there is a substantial shortage of lithium ore at present, and its judgment voice is at the mine end and processing end.
The agency believes that the macro impact is relatively weak, the policy certainty is strong, the barriers are high, and sodium has a certain threat. In terms of macro influence, the influence of macro factors on lithium is weaker than that of base metals; As a new energy raw material, lithium has strong policy certainty; In terms of industry barriers, there are important resource barriers, high capital barriers, high exit barriers, certain design and R & D barriers and certain product certification barriers; As for alternative products, with the continuous improvement of technical performance, sodium ion batteries are expected to pose a certain threat in the future.
Bohai Securities expects that the supply and demand will continue to be tight from 2021 to 2023, and the lithium price center will continue to rise. The agency estimates that the difference between supply and demand from 2021 to 2023 will be – 15.1 / – 9.9 / – 34000 tons of LCE respectively. There is a substantial shortage of lithium raw materials. At the same time, it is estimated that the downstream has a good acceptance of the price increase. It is expected that the price center will continue to rise in 2022 / 2023, and the industry profit will be guaranteed.
another Hong Kong stock was targeted by short sellers: the company strongly denied
The performance of the Hong Kong stock market was also relatively stable this morning, but there was a wave of obvious diving near the morning closing.
Among the major constituent stocks of Hang Seng technology index, Byd Company Limited(002594) electronics, Ming Yuanyun, Kingdee International and Kwai Tai have relatively good performance.
It is worth noting that recently, Hong Kong stocks have been targeted by short selling institutions. The company issued an announcement and strongly denied the arguments of short selling institutions.
Hong Kong stock Tiangong international issued a clarification announcement today, saying that it is hereby to refer to a company called Emerson analytics Co., Ltd’s financial research company issued a report on 15 February 2002 (“the report”). The board of directors of the company (the “board”) strongly denies the unfair negative statements / comments made against the company in the report and considers the statements / comments to be groundless and seriously misleading. The Board recommends that shareholders and potential investors of the company be cautious when using the information contained in the report.
The clarification announcement said that specifically, the statement in the report accused the company of exaggerating its output and profit margin of die steel in the annual report, and the company claimed to account for the vast majority of the export volume of die steel (“die steel”) in the country, such as:
(1) exaggerate the output of die steel
“Our survey shows that the company has been exaggerating its mold steel production. The actual production in 2020 was about 100000 tons instead of the reported 181700 tons.” The analysis of the company’s output in the report mainly comes from two aspects, that is, the 84000 tons output reported by a subsidiary tiangongaihe Special Steel Co., Ltd. (“tiangongaihe”) to China Special Steel Enterprise Association (“Special Steel Association”) and the estimation of the main raw materials consumed.
The report states: “the production of die steel and high-speed steel is respectively the responsibility of Tiangong Aihe Special Steel Co., Ltd. and Jiangsu Tiangong tool New Material Co., Ltd.” The statement is fundamentally false. Both Tiangong Aihe and Jiangsu Tiangong tool new materials Co., Ltd. (“Tiangong tool new materials”) have smelting production facilities and flexibly distribute the production of die steel and high-speed steel according to the market demand. The report completely ignores the new materials of Tiangong tools.
(2) exaggerated gross profit of die steel
“We estimate that the company overstated its gross profit of die steel by 2.6 times. Other things being equal, the actual EBIT in 2020 was only 33% of the reported amount.” Although EBIT is not audited data, it can be inferred from other audited financial data. Therefore, the company regrets the relevant allegations. The management hereby emphasizes that cost control is one of the key priorities of the group.
(3) exaggerate the export volume of die steel
“In 2019, the company declared that the die steel export volume even exceeded the total volume of the country.” The company has not made such a claim. The export figures listed in the company’s annual report are based on the group’s invoices and export records. In addition, we note that the report’s analysis of the 2020 national export figures (and the 2019 figures) is mysteel.. com. Instead of tracking the number of articles published by more than 10 exporters across the country. The company will not comment on the accuracy of these summaries and the inference of the report on the group’s share of national exports.
Tiangong international also said that the company would make further announcement in due course to clarify and respond to other negative statements / comments about the group raised in the report.
According to the market data, the share price of Tiangong international suffered a huge earthquake in the morning, which once fell by more than 9% in the intraday, but it soon rose again, and rose once in the intraday, with an amplitude of more than 10% in the morning.
