China Securities Journal ( zone )
brokerage’s 2019 strategy focuses on growth stocks
As the end of the year approaches, securities companies have released investment strategies for 2019. The reporter of China Securities Journal found that many securities companies believe that the downward pressure on China’s economy will still exist next year, but the probability of monetary policy will continue to be stable and loose. In this context, A-Shares are still relatively optimistic and optimistic about high-quality growth stock investment opportunities in 5g, cloud computing, new energy and other segments.
“one key beauty” wrestling “one key makeup removal” the company’s performance at the end of the year “treasure appraisal” kicked off
Near the end of the year, in order to achieve the annual performance target, some listed companies are busy with “one key beauty”: selling their assets, adjusting accounting standards, seeking government subsidies… Tricks emerge in endlessly, trying to dress up their performance; On the other hand, the organization is busy “removing makeup with one click”, trying to identify those companies with whitewash performance and tap “real growth” and “real value”.
performance valuation is expected to improve, and institutions are optimistic about aviation stock opportunities
With the recent sharp decline in international oil prices and the significant repair of aviation performance and valuation, it is expected to continue the rebound trend in the short term. In the medium term, industry insiders further believe that the supply and demand will continue to improve in 2019, endowment airlines are expected to benefit, and the external factors and profit probability will improve relatively in 2019. At present, aviation stocks are at the low level of performance expectation and valuation, and holding is expected to obtain excess returns.
Gaosheng holding guarantees “thunder explosion” for major shareholders
Gaosheng holdings announced on the evening of December 6 that in the case of loan dispute between Yuchi Ruide Investment Co., Ltd., the company’s largest shareholder, and Beijing Bitian Wealth Investment Co., Ltd., Bitian wealth has applied for enforcement, and the company is facing joint and several liability, and the property situation needs to be reported at the same time. Since this year, Gaosheng Holdings has fallen into a number of risk events caused by illegal provision of guarantees to major shareholders and their related parties. In addition to the loan dispute, Gaosheng holdings and relevant parties have violations such as occupation of non operating funds by related parties, failure of actual controllers to fulfill repayment commitments, provision of guarantees to related parties, failure to fulfill review procedures and information disclosure obligations.
Shanghai Securities News (special area)
the “international standard” of A-Shares is stronger. S & P Dow Jones announced that it was included in the A-Shares and announced the preliminary target at the end of the year
On December 5 local time in the United States, S & P Dow Jones announced the 2018 market classification review results and announced that qualified A-Shares that can be traded through the Shanghai Hong Kong stock connect and Shenzhen Hong Kong stock connect mechanisms will be included in its global index system, with the classification level of emerging markets. The inclusion will take effect before the market opening on September 23, 2019, and the inclusion factor is 25% of the investable market value of the specific A-share target.
this year, the development and Reform Commission approved that the scale of fixed investment projects has exceeded 800 billion yuan
The official website of the national development and Reform Commission released the reply on the third phase construction plan of Chongqing Urban Rail Transit (2018-2023) on the 6th, agreeing to the adjustment of Chongqing’s three rail transit plans. So far this year, the scale of fixed asset investment projects approved by the national development and Reform Commission has exceeded 800 billion yuan.
The inflection point of has changed, and the performance of cash dealers in November increased by month on month and year on year
According to choice data, as of press time, 30 listed securities companies have announced their financial data in November. According to the consolidated statistics, the 30 listed securities companies achieved a total operating revenue of 15.02 billion yuan and a total net profit of 6.25 billion yuan. The overall revenue and net profit increased month on month compared with October. On a year-on-year basis, the performance recovery was also significant. The operating revenue of 15 securities companies increased year-on-year, and the net profit of 16 securities companies increased year-on-year (among the 25 securities companies with comparable data).
the transfer of actual control was terminated only half a month later. St Changjiu went back and was questioned by regulators
St Changjiu, who just disclosed the equity transfer of the controlling shareholder, changed his face in a twinkling of an eye. Only half a month later, the company announced that the transfer was terminated because the terms such as the registered address of the listed company failed to reach an agreement with the transferee. St Changjiu announced on the evening of December 6 that the controlling shareholder Changjiu Group signed a share transfer termination agreement with Tinian logistics, because the specific terms such as the registered address of the listed company were not agreed, and the differences could not be effectively resolved in the short term.
Securities Times (special area)
we should take a positive view on drug volume procurement
The policy of purchasing drugs by volume, which has been discussed for a long time, has been implemented. On December 6, the “4 + 7” urban volume procurement led by the National Medical Insurance Bureau opened the bid in Shanghai. At noon on the 6th, the news of the substantial price reduction of the pre winning varieties came. At the opening of the afternoon, the stock prices of listed pharmaceutical companies fell.
determination of 5g spectrum division scheme of three operators
On December 6, the 5g spectrum division of the three major operators was finally finalized, and the 5g commercial process was further developed. According to the people’s post and Telecommunications News, the three major operators have obtained a national license for the use of 5g medium and low frequency test frequency. In terms of distribution, China Mobile has obtained 2.6GHz and 4.9ghz bands, China United Network Communications Limited(600050) and China Telecom Corporation Limited(601728) eat 3.5GHz bands, which is roughly consistent with previous expectations.
China Automobile Association: it is expected that new energy vehicles will continue to grow rapidly next year
On December 6, Shi Jianhua, Deputy Secretary General of China Automobile Industry Association, said that the negative growth of China’s automobile sales in 2018 is almost certain, and the overall growth of automobile sales in 2019 is expected to be zero. However, new energy vehicles continue to grow and will become the driving force of China’s automobile growth in the next two years. It is estimated that 1.18 million new energy vehicles will be sold by the end of this year, and the sales target of 2 million new energy vehicles will be completed by 2020.
Northern United Publishing & Media (Group) Company Limited(601999) terminate the acquisition of Nezha mutual entertainment and encounter obstacles again
Northern United Publishing & Media (Group) Company Limited(601999) (601999) announced on the evening of July 5 that it planned to acquire 100% equity of Nezha mutual entertainment in cash at a price of no more than 350 million yuan. After five months of waiting, on the evening of December 6, Northern United Publishing & Media (Group) Company Limited(601999) announced that it would terminate the acquisition of all shares of Nezha mutual entertainment. In fact, this is not the first time that the epitaxial expansion of Northern United Publishing & Media (Group) Company Limited(601999) has encountered resistance.
Securities Daily (special area)
the central bank continued to reduce the reserve requirement of 187.5 billion yuan in the same amount, and the expected temperature rise
On December 6, the people’s Bank of China renewed the medium-term loan facility (MLF) of 187.5 billion yuan due on the same day. No reverse repurchase operation. The duration of this continued MLF is one year, and the interest rate is 3.30%, which is consistent with the previous period. On December 7, 100 billion yuan of Treasury fixed deposit bidding will be carried out.
the pace of internationalization of A-Shares accelerates again, and more than 70% of MSCI constituent stocks are favored by institutions
Analysts said that the S & P Dow Jones index will be included in the list of qualified Chinese A-Shares or selected with reference to MSCI constituent stocks. Next year, as A-Shares will be included in the Russell FTSE index, the passive capital inflow into A-Shares will further rise. It is estimated that the passive allocation capital inflow through MSCI and FTSE will be $24 billion. Considering the active capital inflow, it is estimated that the scale of foreign capital inflow into A-Shares in the whole year will be about 350 billion yuan to 400 billion yuan. Statistics show that the above MSCI constituent stocks have also been generally favored by institutions recently. A total of 173 constituent stocks have been recommended by institutions in recent 30 days, accounting for more than 70%.
the price of vitamin a nearly doubled compared with the same period last month, and the boom rebounded. Seven beneficiary stocks rose against the market
According to the monitoring data of Baichuan information, the price of vitamins has been rising continuously recently, and varieties such as vitamin A and vitamin E have repeatedly hit new highs. On December 6, the national average price of vitamin A was 530 yuan / kg, up 3.92% from 510 yuan / kg on the previous day and 97.76% from 268 yuan / kg on November 6; Vitamin E was quoted at 43 yuan / kg on February 6, up 16.22% from a month ago. In addition, vitamin B5, vitamin D3 and other varieties also increased significantly.
The annual net profit of 9 companies is expected to double
At present, there is a continuous and repeated market in the market. Analysts pointed out that the cross-year valuation can still be repaired. In this context, there are still a large number of high-quality undervalued stocks at low prices, which can tap the low-cost allocation opportunities of high-quality military targets when stepping back. Statistics show that in the first three quarters of 2018, the revenue growth of the military industry sector increased to 14.63%, exceeding the average level of a shares, an increase of 8.59 percentage points compared with the bottom of the first quarter of this year, and the revenue improved significantly; Although the growth rate of net profit in the third quarter was 11.59%, down 4.22% month on month, it still exceeded the average level of A-Shares by 1.16 percentage points.
