Market performance and highlights this week: government work report: China’s GDP growth target of 5.5% in 2022
Market performance: this week (from February 26 to March 4, the same below), the Shanghai Composite Index closed at 3448 points, down 0.11%; The Shenzhen composite index closed at 13020 points, down 2.93%; The gem index closed at 2749, down 3.75%. In terms of the style of large and small cap, this week, the large cap index fell 2.08% and the small cap index fell 0.89%. Since 2022, the market index has fallen by 9.32% and the small index has fallen by 8.47%, and the small / large ratio is 1.29.
Highlights of this week: government work report: the main expected goal of development this year is to increase China’s GDP by about 5.5%.
Major events of this week: on March 1, Ninestar Corporation(002180) issued the announcement of equity incentive plan. The total number of incentive shares was 5.365 million, accounting for 0.38% of the total share capital at that time. The stock transfer price was 24.82 yuan / share, valid for 4 years, and the compound growth rate of income target was 22.76%.
This week’s special topic: the stone of another mountain — the past and present life of China’s foreign transfer board system
Foreign board transfer system: the United States constructs the whole market board transfer with competition as the core, and Japan establishes the multi-channel board transfer within the exchange. As one of the most mature capital markets in the world, the United States has established a board transfer system covering the whole market with market-oriented competition as the core. Through market-oriented competition, the U.S. capital market promotes the stratification of the on-site market and the off-site market within each other, and seizes the listing resources by setting differentiated listing standards, so as to realize the effective allocation of resources and promote the coordinated development of the on-site and off-site markets in the United States. Japan has built a multi-channel internal board transfer system through the merger and integration of the exchange. The board transfer is mainly carried out among the market department I, market Department II, mothers and JASDAQ within the East stock exchange, and has promoted the rapid development of the mothers market through differentiated positioning and system design.
China’s transfer system: Taiwan, China, is building a bottom-up transfer board with the new cabinet as the preparatory board. Hongkong, China, builds a one-way upgrade board based on the gem. To promote the construction of OTC market, China Taiwan builds a multi-layered market structure from top to bottom. Based on multi-level securities exchange and trading center, China Taiwan has formed a bottom-up systemic transfer system, and has established a unique mandatory reserve board system for the emerging market, thus promoting the vigorous development of the market of small and medium-sized enterprises located in emerging industries. At the same time, with the continuous reform of China’s Taiwan capital market transformation system, Xinxing electronics and other excellent companies have also achieved rapid growth through the transfer of the board to the Taiwan Stock Exchange. Hong Kong, China, has only upgraded the gem to the main board, and lacks the downgraded transfer from the main board to the gem. In addition, the policy tightness scale has changed significantly, the positioning of the gem is not clear, and there is a lack of strictly enforced delisting system. As a result, the gem is not attractive to innovative small and medium-sized enterprises, and the number of listings and transaction activity continue to decline.
Key recommended themes and stocks
Smart car theme (torch technology, Huizhou Desay Sv Automotive Co.Ltd(002920) , Foryou Corporation(002906) , Ingenic Semiconductor Co.Ltd(300223) , Thunder Software Technology Co.Ltd(300496) , Lianchuang Electronic Technology Co.Ltd(002036) , Ningbo Joyson Electronic Corp(600699) , Meig Smart Technology Co.Ltd(002881) ); Theme of leisure snacks ( Yanker Shop Food Co.Ltd(002847) , Bestore Co.Ltd(603719) , Three Squirrels Inc(300783) ); Pet and Breakfast theme ( Petpal Pet Nutrition Technology Co.Ltd(300673) , Zhongyin Babi Food Co.Ltd(605338) ); High end manufacturing themes ( Estun Automation Co.Ltd(002747) , Amlogic (Shanghai) Co.Ltd(688099) , Jade Bird Fire Co.Ltd(002960) , Jutze Intelligent Technology Co.Ltd(300802) , Jiangsu Ankura Smart Transmission Engineering Technology Co.Ltd(300617) ).
Tips: sharp economic decline risk; Major changes in capital market reform policies; The prosperity of the industry is lower than expected.
