Stimulated by the favorable reduction of the reserve requirement, the Shanghai and Shenzhen stock markets opened sharply higher today (December 7), followed by the shock of the stock index, covering the gap of short jump, and the gem led the decline; In late trading, the decline of gem narrowed and the Shanghai index turned red. On the disk, in terms of industry, airports, real estate, electric power, wine making, tourism hotels, etc. led the increase; Energy metals, motors, shipbuilding, power grid equipment, consumer electronics and other industries led the decline. In terms of subject stocks, Fujian Free Trade Zone, rental and sale rights, super brands, St plate and green power led the increase, while salt lake lithium, large aircraft, tobacco and secondary new shares led the decline.
st plate is active again Xin Jiang Ready Health Industry Co.Ltd(600090) four board Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) the increase has doubled in recent months
St plate was active again on the 7th. As of press time, * ST rose by more than 16%, and more than 40 shares such as Xin Jiang Ready Health Industry Co.Ltd(600090) , Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) , Xinjiang La Chapelle Fashion Co.Ltd(603157) , Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) rose by the limit. It is worth noting that Xin Jiang Ready Health Industry Co.Ltd(600090) has increased the limit for four consecutive trading days recently, and Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) has gained three limits in four transactions. Since November, Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) has increased by 106%.
It is worth noting that Xin Jiang Ready Health Industry Co.Ltd(600090) , Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) have recently issued several risk warning announcements that the listing of shares may be terminated. The announcement made it clear that the company was placed on file for investigation by the CSRC on suspicion of illegal information disclosure. According to the facts identified in the prior notice of administrative punishment and market prohibition issued by the CSRC, it may touch on major illegal compulsory delisting situations. In addition, there is a risk that the company’s shares will be delisted when the daily closing price is lower than RMB 1 for 20 consecutive trading days, reminding investors to pay attention to investment risks.
Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) recently also issued a risk warning announcement, which clearly stated that the delisting risk warning of the company’s shares has been implemented, the funds occupied by the controlling shareholders and their related parties have not been repaid, the company has significant uncertainty risks related to continuous operation, and reminded investors to pay attention to investment risks.
Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) said that the audited ending net assets of the company in 2020 were negative, and the financial and accounting report in 2020 was issued, which could not express opinions. According to relevant regulations, the delisting risk warning was implemented for the company’s shares. Whereas the company also triggered article 13.9 of the Listing Rules of Shanghai Stock Exchange (revised in December 2020) 1 and 13.3.1 The relevant provisions of Article 2 shall be in accordance with article 13.1.1 Article 4. The company’s shares have been subject to delisting risk warning on May 6, 2021. According to Article 13.3 of the Listing Rules of Shanghai Stock Exchange (revised in December 2020) Article 2 stipulates that if the audited net assets of the company are negative at the end of 2021 or the audit institution is unable to issue a standard unqualified audit report, the listing of the company’s shares will be terminated.
the power sector fluctuated higher Jinneng Holding Shanxi Electric Power Co.Ltd(000767) , Fujian Mindong Electric Power Limited Company(000993) and other daily limits
The power sector rose on the 7th. As of press time, Gepic Energy Development Co.Ltd(000791) , Jinneng Holding Shanxi Electric Power Co.Ltd(000767) , Fujian Mindong Electric Power Limited Company(000993) and other trading limits, Shanghai Electric Power Co.Ltd(600021) , Huadian Power International Corporation Limited(600027) , Huaneng Power International Inc(600011) , Datang Huayin Electric Power Co.Ltd(600744) were outstanding.
In terms of news, on December 3, the national development and Reform Commission announced the draft for comments on the signing and performance scheme of long-term coal contract in 2022 at the national coal fair. The draft points out that on the supply side, all coal production enterprises with an approved capacity of 300000 tons or more will be included in the signing scope of the long-term coal association in 2022 in principle; On the demand side, power generation and heating enterprises are required to sign a long-term agreement for 100% of the coal used except imported coal. In terms of price, the pricing mechanism of “benchmark price + floating price” remains unchanged. The adjustment range of 5500 kcal thermal coal is between 550-850 yuan, of which the benchmark price of underground coal long-term association is 700 yuan / ton, an increase of about 31% compared with the previous 535 yuan. The price of power coal long-term association in the new year will be adjusted once a month.
Huachuang Securities pointed out that based on the long-term association of 800 yuan / ton, the upward space of superimposed market-oriented electricity price is opened, and the loss of thermal power is expected to narrow significantly. The price of Changxie coal calculated according to the pricing formula of new Changxie coal is about 800 yuan / ton, and the actual use price to the plant is expected to be about 1000 yuan / ton. At the same time, this year, the national development and Reform Commission issued a document to expand the floating range of transaction prices in the coal-fired power generation market from the current floating range of no more than 10% up and no more than 15% down in principle to no more than 20% up and down in principle. Based on the above factors, under the background of stabilizing coal price and increasing market-oriented electricity price, the loss surface of thermal power enterprises will be greatly narrowed and is expected to achieve breakeven.
The agency said that in 2022, the dust of coal price will be settled, the market-oriented reform of superimposed electricity price is expected to promote the further rise of electricity price, thermal power is expected to return to profit and loss balance, the pressure on enterprises is expected to be gradually relieved, and the situation dragging down the valuation of new energy is expected to be greatly improved. Power operators in the transition from thermal power to new energy are expected to benefit fully. It is suggested to pay attention to China Resources Power, Huaneng Power International Inc(600011) (a + H), Fujian Funeng Co.Ltd(600483) and so on.
the airport sector rose Air China Limited(601111) and other stocks rose more than 5%
The aviation and airport sectors rose in intraday shocks on the 7th. As of press time, the aviation sector, Air China Limited(601111) , China Southern Airlines Company Limited(600029) rose by more than 5%, and Juneyao Airlines Co.Ltd(603885) , Spring Airlines Co.Ltd(601021) , China Express Airlines Co.Ltd(002928) rose ahead; In the airport sector, Guangzhou Baiyun International Airport Company Limited(600004) , Shanghai International Airport Co.Ltd(600009) , Shenzhen Airport Co.Ltd(000089) and so on all rose.
For the aviation sector, Citic Securities Company Limited(600030) pointed out that the spread of the epidemic and the high oil price led to pressure on short-term profits in the fourth quarter, but it may be the night before dawn. The improvement of therapeutic drugs and vaccination rate has been accumulating, maintaining the judgment that the international line may be loose in the second quarter of 2022. Since this year, the phased repair of the aviation market has verified that the internal demand is strong and resilient, and it is expected that the mass production of therapeutic drugs will bring a structural inflection point of the combination of prevention and treatment. On the supply side, the net growth of China’s transport aircraft in 2020 was only 85, a record low since 2003. It is expected that about 80 ~ 90 aircraft will be introduced in 2022 or continue until 2023. The logic of civil aviation supply tightening is determined. Recovery history: after the 2008 financial crisis, the demand for civil aviation rebounded strongly. If the therapeutic drugs and vaccination rate form an effective defense line combining prevention and treatment, the previously suppressed demand is expected to recover rapidly, or promote the net interest rate of the three airlines to recover to 5% – 8% in the next two years. It is expected to be higher than the beta or save more than twice the space, and the aviation reconstruction will be prosperous.
The agency said that it is strongly recommended to pay attention to the three major airlines that will benefit from the rapid repair of suppressed demand, the return of net interest rate to the cycle high of 5% ~ 8% in the next two years, and the high beta reconstruction prosperity. Among them, Air China Limited(601111) has experienced triple bottoming, leading comparable companies in capacity utilization and performance elasticity in the post epidemic era, and Air China Limited(601111) is the first to reconstruct prosperity. Continue to recommend Spring Airlines Co.Ltd(601021) with obvious cost advantage, adverse expansion under the background of epidemic situation and determined growth.
China will implement the strategy of expanding domestic demand. The “dark moment” in the household appliance sector may have passed (with shares)
The meeting of the Political Bureau of the CPC Central Committee held on December 6 stressed that next year’s economic work should be stable and seek progress while maintaining stability. Implement the strategy of expanding domestic demand, promote the sustained recovery of consumption, actively expand effective investment and enhance the endogenous driving force of development; We will promote the construction of affordable housing, support the commercial housing market, better meet the reasonable housing needs of buyers, and promote the healthy development and virtuous cycle of the real estate industry.
Soochow Securities Co.Ltd(601555) believes that the conference ranked “promoting the construction of affordable housing” first, that is, the construction of affordable housing may replace the construction of commercial housing and gradually become an important starting point for the growth of real estate investment. “Supporting the commercial housing market to better meet the reasonable housing needs of buyers” means that for commercial housing, guarantee sales is the first. Only when the sales of commercial houses are stable can we help those developers in trouble supplement cash flow and build market confidence. It can be seen that the latest statement on the real estate industry at the Politburo meeting is intended to stabilize market confidence rather than turn to comprehensive stimulus.
Huaan Securities Co.Ltd(600909) it is expected that the capital turnover dilemma of the real estate industry will be gradually alleviated and the pattern will be accelerated and optimized. Feed back to the end of the household appliance sector and believe that the “dark moment” of the sector may have passed, and the reasonable and orderly release of rigid demand and improved house purchase demand will form a strong support for the growth of the sector. In the stage of stock competition, white electricity and kitchen electricity leaders with outstanding advantages in products and efficiency and continuous optimization are expected to take the lead in valuation repair.
The agency recommends white power leaders Haier Smart Home Co.Ltd(600690) , Midea Group Co.Ltd(000333) , Gree Electric Appliances Inc.Of Zhuhai(000651) , which pay attention to the continuous optimization of the competition pattern and are expected to repair their profitability in the second half of the year. It is recommended to focus on the integrated stove leader Marssenger Kitchenware Co.Ltd(300894) with continuous optimization of product structure and steady expansion of multiple channels, as well as the integrated stove leader Zhejiang Entive Smart Kitchen Appliance Co.Ltd(300911) that comprehensively promotes the improvement of products, brands, channels and management. It is recommended to pay attention to the Siasun Robot&Automation Co.Ltd(300024) leader Ecovacs Robotics Co.Ltd(603486) of sweeping with outstanding comprehensive advantages and building the second growth pole with the help of intelligent life appliances, as well as the Siasun Robot&Automation Co.Ltd(300024) leader Beijing Roborock Technology Co.Ltd(688169) of sweeping with deep technical barriers and rapid expansion of overseas channels.
research trends of A-share institutions “Refresh” the most concentrated five industries such as mechanical equipment
As one of the investment weathervanes of the A-share market, institutional research has always been highly concerned by investors. According to the data, as of December 6, a total of 112 companies in the A-share market have obtained institutional research since December. Among them, 4 companies welcomed more than 100 institutions to gather for research.
The reporter noted that only within the above statistical range, two companies of the Beijing stock exchange ranked among them. If the time line is lengthened, take the opening date of the Beijing stock exchange (November 15) as the statistical starting point. As of 15:00 on December 6, 21 of the 669 companies surveyed by the institutions are Beijing stock exchange companies. Among the 669 companies, 9 companies were surveyed by 10 or more institutions, of which one pharmaceutical and biological company was surveyed by 47 professional institutions.
In terms of the industries of the investigated enterprises since December, the five fields of mechanical equipment, electronics, power equipment, medicine, biology and computer are the most concentrated. If we look at the institutional research in the whole fourth quarter, it also shows a similar industry distribution. Specifically, 1223 companies in the A-share market received intensive institutional research. Among them, 145 companies welcomed more than 100 institutions to gather for research. In terms of industry types, 602 companies in the above five fields alone were investigated by institutions, accounting for 49.22%.
Interim Regulations on the management of automotive radar radio issued, and the technical upgrading has brought about the improvement of radar market value (with shares)
The Ministry of industry and information technology recently issued the Interim Provisions on the management of automotive radar radio. According to the regulations, in order to promote the application of automotive intelligent technology and industrial development, 76-79ghz frequency band is planned to be used for automotive radar.
Vehicle radar is an auxiliary means to monitor vehicle speed and distance through sensors in intelligent transportation system. According to the data of Intelligent Automobile Research Institute of Gaogong, from January to December 2020, the carrying capacity of front mounted angle radars in the Chinese market was 4.1428 million, a year-on-year increase of 72.53%; The number of forward millimeter wave radars was 5.3572 million, a year-on-year increase of 38.43%.
Huaan Securities Co.Ltd(600909) believes that 77GHz radar is the mainstream technical route of intelligent driving in the future. At present, the price of 77GHz on-board radar is about 1.8 times that of 24GHz products. The technical upgrading has increased the value of radar in the downstream automatic driving market and accelerated the maturity of relevant upstream industrial chains.
Millimeter wave radar, camera and lidar are recognized as three key sensing technologies for automatic driving. The advantage of millimeter wave radar is that it can provide accurate distance and speed information, and the detection distance is relatively long. It can work all day (night, rainy day, etc.). 77GHz radar has smaller size, lower power consumption, higher bandwidth, better resolution and longer detection distance. With the popularization of automatic driving technology, the market demand for relevant core sensors such as millimeter wave radar also increases.
According to IDC’s forecast, the global L1-L5 class autopilot truck volume is expected to reach about 54 million 250 thousand vehicles in 2024. Assuming that each vehicle has an average of 5 millimeter wave radars with a value of 1000 yuan, the annual market will exceed 50 billion yuan and the space is huge. It is considered that the perception layer is very important for the working performance of ADAS system, and needs hardware cooperation with signal / data processing and the combination with autopilot AI algorithm. In the future, two types of enterprises will benefit, one is chip design company, and the other is system solution provider combining radar module and ADAS algorithm. The former is a domestic alternative logic, and the core of the latter lies in the ability of scene based software and algorithm.
