China Securities Journal ( zone )
detailed introduction to the market strategy of basic endowment insurance fund
According to the data of the Ministry of human resources and social security, as of the end of September, the total amount of entrusted investment contracts of the basic endowment insurance fund was 715 billion yuan, of which 416.65 billion yuan had been received and began to invest. Institutional people believe that the long-term fund represented by pension is expected to create more than expected investment income, exempt from the pressure of high-frequency assessment, and will certainly release more advantages, so as to form a “counter cyclical” regulation of the capital market; The investment mode is “direct investment + entrusted investment”.
the share of ETFs on the gem continued to grow. In October, the scale of 50 ETFs on the Hua’an gem increased by more than 66 times
Recently, the A-share market continues to shock and find the bottom. In this context, ETFs that maintain scale contrarian growth are particularly prominent. According to the data, as of October 30, there were 19 A-share ETFs with a total market share growth of more than 100%, including 4 ETFs tracking the gem, and the three with the largest growth were Hua’an gem 50ETF, GF gem ETF and e-fund gem ETF, with growth rates of 6695.80%, 536.17% and 419.53% respectively since this year. Some fund managers said that in combination with future performance, the gem refers to that the current valuation is reasonably low and the investment cost performance is outstanding. In the next two to three years, the gem index with relatively small investment market value and large performance growth elasticity is expected to obtain the “double-click” of the company’s performance growth and valuation growth.
the price rise came as scheduled, and the cement sector continued its high boom in the fourth quarter
Yesterday, the cement sector rose sharply. The analysis points out that the current valuation of the cement sector has been at a historical valuation low, and from the three quarterly reports, the net profit attributable to the parent company of the leading cement enterprises is expected to achieve 100% growth in 2018. In the next three years, under the situation that the industry pattern is concentrated, the price is stable and the quantity is growing steadily, the performance still has room to be released.
the auction balance was not paid in time Zhuhai Zhongfu Enterprise Co.Ltd(000659) the receiver entered the game, which is strange
Shenzhen Guoqing recently won all the shares of the company held by Jie ande, the largest shareholder of Zhuhai Zhongfu Enterprise Co.Ltd(000659) with 473 million yuan, accounting for 11.39% of the shares of the listed company. Originally, the final payment of the auction was paid on October 19, and the transaction confirmation was signed on October 26 of the same month. But so far, Zhuhai Zhongfu Enterprise Co.Ltd(000659) two announcements have disclosed that the transaction has not made progress. According to the bidding terms, the 38.5 million yuan previously delivered by Shenzhen Guoqing will face the risk of confiscation. The Bidding Manager can decide to re auction, and Shenzhen Guoqing cannot participate in a new round of bidding. Why did Shenzhen Guoqing fail to pay the balance in time after winning the auction? At present, its entry motivation is still foggy.
Shanghai Securities News (special area)
good policies for securities companies to participate in resolving equity pledge risks
The reporter learned that some securities companies received the notice on supporting securities institutions to actively participate in resolving the stock pledge risk of listed companies and supporting the development of private enterprises issued by relevant departments yesterday. In the notice, a number of measures are proposed to encourage securities companies to participate in resolving the risk of stock pledge, including giving classified evaluation points to a certain number of securities companies that have solved the risk of stock pledge.
126 real estate enterprises compete for profitability, and 14 lose money
Among the 126 listed real estate enterprises in Shanghai and Shenzhen that have disclosed the third quarterly report of 2018, 110 have achieved profits, accounting for 87.30%. From the perspective of the net sales interest rate of these real estate enterprises in the first three quarters of this year, 79 increased year-on-year (accounting for 62.7%) and 47 decreased year-on-year (accounting for 37.3%). According to the analysis of Shenwan level industry, the average net sales interest rate (overall method) of A-share real estate enterprises in the first three quarters of this year was 12.55%, an increase of 1.25 percentage points over the same period last year, and the differentiation between real estate enterprises became more and more obvious.
the decline in net worth does not regret the “infatuation” of public and private placement and is optimistic about pharmaceutical stocks
The pharmaceutical sector favored by both public offering and private placement rose “in the first half of 2018. However, since the third quarter, with the frequent negative events in the industry and the acceleration of the stock index to catch up with the bottom, pharmaceutical stocks have not only suffered a wave of unilateral decline, but also dragged down the performance of relevant funds. But the agency is still “infatuated with it” and believes that the long-term investment value of the pharmaceutical industry remains unchanged, and the recent decline has digested the valuation bubble of the pharmaceutical stocks, or has become a good opportunity to increase the allocation of pharmaceutical stocks.
from intention to finalization Shanghai Hongda New Material Co.Ltd(002211) the new owner will spend 100 million yuan less
Shanghai Hongda New Material Co.Ltd(002211) according to the latest announcement, the company received the notice from the controlling shareholder Weilun investment. Weilun investment and Shanghai Hongzi Enterprise Development Co., Ltd. jointly signed the share transfer agreement on October 31. Shanghai Hongzi plans to transfer 122.1 million shares of the company held by Weilun investment for RMB 976.8 million through agreement transfer, with the transfer price of RMB 8 / share, Compared with the closing price of 4.62 yuan on October 31, the premium is 73%.
Securities Times (special area)
the State Council Office issued a document requiring to maintain the efforts to make up for weaknesses in the field of infrastructure
Recently, the general office of the State Council issued the guiding opinions on maintaining the strength of making up weaknesses in the field of infrastructure, which pointed out that it is necessary to focus on key areas and weak links, maintain the strength of making up weaknesses in the field of infrastructure, further improve infrastructure and public services, improve the quality of infrastructure supply, and give better play to the key role of effective investment in optimizing the supply structure, Maintain steady and healthy economic development, and put forward 10 supporting policies and measures.
88 individual shares of the shareholding ratio of cash certified jinshengying is the same as 2.99%
The third quarterly report of the listed company has been disclosed. China Securities Finance Co., Ltd. (hereinafter referred to as SFC) announced its position adjustment in the third quarter. It is worth noting that in the third quarter, the shareholding ratio of securities companies to a large number of individual shares was 2.99%; In the third quarter of 2015, SFC also held 2.99% of a large number of companies. It is worth paying attention to whether the two similar operations are due to the similarity of SFC’s judgment on the market.
the investment assets of the four major insurance enterprises exceed 7 trillion: increase the allocation of fixed income assets and pay attention to high score bonus shares
Affected by the continuous downturn of the stock market in the first three quarters, the income of equity assets in the open market of insurance companies decreased significantly. Statistics show that the total asset impairment losses of the four A-share listed insurance companies of China Life Insurance Company Limited(601628) , China Pacific Insurance (Group) Co.Ltd(601601) , Ping An Insurance (Group) Company Of China Ltd(601318) , New China Life Insurance Company Ltd(601336) in the first three quarters of 2018 amounted to 7.897 billion yuan. Among them, Guoshou, which has the largest amount of investment assets, has the most obvious impact. The asset impairment loss in the first three quarters was 5.596 billion yuan.
net purchase of funds going north hit a new high of “entering Morocco” Kweichow Moutai Co.Ltd(600519) regained favor
On October 31, the main stock indexes of Shanghai and Shenzhen closed up, and the transactions in the interconnection market were relatively active. The funds going north maintained a net inflow for the third consecutive trading day, and bought about 5.7 billion yuan of A-Shares on the same day, setting a single day high since A-Shares were officially included in the MSCI Emerging Markets Index in June. Among the actively traded stocks, Kweichow Moutai Co.Ltd(600519) gained the largest position increase, Jiangsu Hengrui Medicine Co.Ltd(600276) also gained increased holdings, and the funds went north to reproduce “drinking and taking medicine”.
Securities Daily (special area)
Shenzhen Stock connect and Clearstream bank help mutual recognition cross-border sales of mainland funds
On December 31, Ke Xue, deputy general manager of Shenzhen Securities Communication Co., Ltd., and Clearstream banking s A. Philippe seyll, CO CEO of Clearstream bank, jointly announced that the “mutual fund recognition service platform” and “vestima platform” have completed docking to provide services for cross-border sales of funds between the mainland and Hong Kong, so as to allow more foreign investors to enter China’s investment fund market.
164 restructuring performance commitments were not fulfilled. The Investment Service Center launched a special action on online exercise
In order to respond to the concerns of investors and safeguard the interests of investors, in the third quarter of 2018, CSI small and medium-sized Investor Service Center sorted out the restructuring matters implemented by listed companies from 2015 to 2017, and carried out special online exercise actions for the matters in which the target company did not achieve its promised performance and did not fulfill its compensation obligations. The Investment Service Center said that in the next step, it will continue to track and urge listed companies to reply to inquiries and fulfill their commitments, put forward improvement suggestions on the problems found in the exercise, promote relevant departments to improve rules and strengthen supervision and inspection.
in October, the PMI of manufacturing industry was 50.2%, and the landscape of construction industry increased at a high level
On October 31, the service industry survey center of the National Bureau of statistics and China Federation of logistics and procurement released China’s manufacturing and non Manufacturing Purchasing Managers’ index (PMI) in October. Zhao Qinghe, a senior statistician of the service industry survey center of the National Bureau of statistics, said yesterday that from the data, China’s Manufacturing Purchasing Managers’ index and non manufacturing business activity index continued to remain in the expansion range in October.
FF financing is expected to result in two months. Evergrande said that the cooperation between the two sides has not been terminated
After the emergency relief arbitration result of the dispute over the cooperation agreement between Faraday future (hereinafter referred to as FF) and Evergrande was released, Jia Yueting temporarily obtained a financing right of up to US $500 million. On October 31, FF insiders disclosed to the Securities Daily that FF’s financing is expected to produce results in two months. Evergrande said that Evergrande health, as a listed company, is legally responsible for the press conference of announcement contents. At present, Evergrande is working with the lawyer team to consider filing a lawsuit against FF and Jia Yueting. For the differences after the emergency arbitration result comes out, wait for the final arbitration result. At present, the cooperation between Evergrande and FF has not been terminated, and the contract will come as agreed.
