China Securities Journal ( zone )
see you next year
On the 11th, the continuous stop time record of the central bank’s reverse repurchase operation was refreshed to 33 working days. However, as the end of the year approaches, the liquidity of the money market gradually enters a period of high volatility, and the central bank is unlikely to remain “silent” all the time. Some people believe that the continuous suspension of the central bank’s reverse repurchase is a “big move” to reduce the reserve requirement or come later. But on the whole, it is unlikely that the RRR will be lowered at the end of the year, and the next RRR window may be opened before the Spring Festival.
the shell preservation war was supervised at the end of the year, and the Bo market should be cautious
In the past two months, ST shares and companies on the edge of “wearing stars and hats” have issued announcements related to asset sales and debt restructuring. However, while listed companies are actively brewing the “shell protection” action, the pace of supervision has also followed. Recently, many companies that have thrown out asset sales plans have been questioned by regulators. Insiders pointed out that with the increasingly mature delisting supervision, the road of “shell protection” without performance support is becoming more and more difficult. Ordinary investors should be vigilant against the speculation of relevant market.
the sales of leading real estate enterprises increased steadily, and the allocation opportunities appeared
Yesterday, the two cities rebounded from shock, and the real estate industry sector led the increase. From the November sales data released by real estate enterprises, the leading real estate enterprises increased significantly. Some analysts believe that the logic of the increase in the concentration of the real estate sector remains unchanged. Therefore, it is suggested to pay attention to the front-line real estate enterprises with low valuation and rapid performance growth.
the trend of individual stocks is prominent, and the mechanical sector shows structural opportunities
After three consecutive positive days in the early stage, the recent mechanical plate showed an interval shock trend, but the activity of individual stocks did not weaken. The analysis points out that although the performance growth of the machinery industry may slow down in the future on the high base in 2018, the valuation level of each subdivided industry in the sector has been reduced to a historical low, and the investment value has gradually appeared.
Shanghai Securities News (special area)
advocating long-term investment pension target fund will abandon short-term assessment
While the pension target fund lineup is gradually growing, the regulators are also steadily promoting a series of measures to make “long money” truly realize “long-term investment”. According to relevant sources of the fund company, the regulatory authorities recently provided window guidance to the companies that have issued or intend to issue pension target funds, and required to set up a separate evaluation mechanism for pension target funds, focusing on the medium and long-term performance of fund managers for 3 years or more, and no short-term performance evaluation and publicity.
institutional forces are quietly gathering. Who will carry the banner of long A-share market
In 2018, when the A-share shock bottomed out, a long-term long-term force from institutional investors has quietly gathered. According to the statistics of the Research Report of securities companies, the proportion of A-share circulating shares held by public funds, insurance and foreign capital is gradually approaching, forming a pattern of “three pillars”. The potential incremental funds of the three main forces in the future may exceed 800 billion yuan, which is expected to carry the long flag of the A-share market next year.
more than ten provinces and cities have issued road test rules, and intelligent networked vehicles drive to the “air outlet”
Recently, Guangdong, Wuhan and other places have issued detailed rules for the implementation of road test management specifications for intelligent networked vehicles, paving the way for the commercialization of intelligent networked vehicles. Industry insiders believe that China attaches great importance to the development of intelligent networked vehicles as an important means to solve problems such as traffic safety, road congestion, energy consumption and environmental pollution, so as to drive the technological transformation and accelerated upgrading of the automotive industry.
Jinlihua Electric Co.Ltd(300069) vest shareholder hidden behind the investigation of the actual controller
In the second quarter of 2018, when the share price collapsed in Jinlihua Electric Co.Ltd(300069) , Ma Zhiyue, Chen Xiaojuan, Chen Haizhen and other natural person shareholders, who were among the top ten circulating shareholders of the company, concentrated on reducing their holdings and “fleeing”, of which some shareholders were inextricably linked with Zhao Jian. Subsequently, in mid July this year, Zhao Jian was investigated by the CSRC on suspicion of manipulating the securities market. A series of events can’t help guessing whether the relevant natural persons, including Ma Zhiyue, are the waistcoats of Zhao Jian’s capital front desk?
Securities Times (special area)
the short-term interest rate rebounded by nearly 30%, and the base income exceeded 3%
Under the influence of factors such as the shortage of funds at the end of the year and across the year, the yield of the monetary fund falling all the way in the second half of this year ushered in the momentum of stop falling and recovery. Since December, the annualized yield of the whole market monetary fund has quietly rebounded to 2.8% on the 7th. Insiders believe that due to the superposition of factors such as new year’s day, Spring Festival and the end of the year, the cross-year funds are relatively tight, the short-term interest rate begins to rise, and factors such as reverse repurchase, inter-bank certificates of deposit, short-term bond assets and one-time cash income of mature bonds with more monetary fund allocation all lead to the rise of monetary fund yield in the short term. It is expected that this momentum is expected to remain after the Spring Festival.
non box office revenue has become a new growth point of the film industry
This year, the national film box office revenue is expected to exceed 60 billion yuan. While the box office revenue is rising, non box office revenue, including pre screening advertising, positional advertising, popcorn and other sales revenue and film derivatives revenue, is also growing rapidly, becoming a new profit growth point of the film industry. Compared with 70% of derivatives revenue in the American film market, there is still great room for the development of China Film Co.Ltd(600977) industry’s non box office revenue. In the future, with the continuous growth of film viewers, it is expected that the scale of the non box office market will also continue to grow.
30 shares have been purchased by institutions for more than 3 times, and the annual performance of 6 shares is expected to double
Statistics show that as of yesterday’s close, a total of 280 stocks have been rated as buy by institutions in the past month. In terms of industry, pharmaceutical and biological, chemical, electronic, computer and other industries are more favored by institutions, of which 28 stocks are from the pharmaceutical and biological industry, with the largest number.
two major shareholders pledged Shanghai Raas Blood Products Co.Ltd(002252) 230 million shares or triggered passive reduction
On the evening of December 11, Shanghai Raas Blood Products Co.Ltd(002252) announced that some shares pledged by the two major controlling shareholders of the company, Les China, Kerui Tiancheng and their concerted actors had constituted a breach of contract and there was a risk of passive reduction.
Securities Daily (special area)
credit resumed high operation, adding 1.25 trillion yuan in November
On December 11, the people’s Bank of China released the financial statistics report for November, which showed that RMB loans increased by 1.25 trillion yuan in November. Insiders said that the new RMB loans were in line with expectations as a whole, mainly due to the rising credit demand of residents in the “double 11” and the strengthening of banks’ financing for private enterprises under the policy guidance. It is worth noting that the increase of short-term loans is significant, and the growth of medium and long-term loans is limited, which reflects that enterprise financing is mainly to meet the short-term liquidity demand, and the long-term financing demand is still weak.
spectrum allocation helps 5g commercial speed up again. More than 3 institutions are focused on 6 concept stocks
On December 10, the Ministry of industry and information technology announced that it would issue a license for the use of 5g system test frequency to basic telecom operators. Analysts pointed out that the confirmation of 5g spectrum has made the development direction of the industrial chain clearer, which directly involves the station networking planning and investment scale of the three operators for 5g network, and the confirmation of spectrum has formed guidelines for the development strategy and layout of upstream and downstream industrial chains.
the overall price earnings ratio of continuous “land volume” A-Shares is less than 14 times. 38 undervalued shares in the annual report attracted more than 200 million yuan
On Tuesday, the turnover of the Shanghai stock market was less than 90 billion yuan, a new low in nearly three years. Market participants generally believe that the recent A-share continuous contraction adjustment, market sentiment is low, and the market may brew a strong rebound in the continuous adjustment; At present, the performance of the market is basically the same as that of the bottom area of A-Shares in history, especially the state of the valuation bottom, which makes the market suffer bad blows repeatedly and fail to fall sharply again. Instead, it continues to fluctuate near the current platform, which seems dead, but actually gives a lot of medium and long-term funds the opportunity to enter quietly, In particular, the undervalued target with high annual report performance certainty may have a greater chance of future rebound, which is worthy of close tracking.
Shenwu group auctioned the equity of the two companies again at a 15% discount. The industry said that it was affected by performance compensation or sold again
After the first round of auction was sold out, the shares of Shenwu energy conservation and Shenwu environmental protection held by Shenwu group were auctioned again after discount. The reporter of Securities Daily noted that the content of the second auction displayed on the “Alibaba auction justice” platform was not much different from that in the first round of auction, but the evaluation price was changed from the original 216 million yuan to 201 million yuan, and the starting price was reduced from 216 million yuan to 183 million yuan, which was equivalent to an 85% discount from the starting price of the first auction.
