The adjustment of the stock market continued. This morning, the Shanghai Composite Index fell 1.07%, once again setting a new low in the adjustment stage.
Hong Kong stocks also continued the adjustment trend, with the Hang Seng Index and Hang Seng technology index falling more than 2% during the session.
In China’s commodity futures market, a number of commodity futures varieties, including Shanghai nickel, crude oil, low sulfur oil, fuel oil and asphalt, continued to rise sharply.
A-Shares continued to decline and coal and other sectors rose against the trend
Market data showed that the Shanghai Composite Index fell 1.07%, and the gem index fell 1.61%. The net half day sales of northbound funds exceeded 4 billion yuan. More than 3900 stocks in the two cities fell.
The pharmaceutical and biological sector led the decline, with Shanghai Kaikai Industry Company Limited(600272) hitting the limit Nanjing Hicin Pharmaceutical Co.Ltd(300584) , Dajia Weikang, Zjamp Group Co.Ltd(002758) , Hubei Goto Biopharm Co.Ltd(300966) , Honz Pharmaceutical Co.Ltd(300086) and other stocks fell more than 8% during the session.
The military industry sector led the decline, led by Changsha Jingjia Microelectronics Co.Ltd(300474) , Avic Xi’An Aircraft Industry Group Company Ltd(000768) and others.
The real estate sector also led the decline. Leading company China Vanke Co.Ltd(000002) intraday decline of more than 5%.
Huaan Securities Co.Ltd(600909) ‘s research view is that following the “three red lines”, the introduction of policies such as “real estate loan concentration management”, “land supply concentration” and “real estate tax reform pilot” will restrict both supply and demand in both directions. The regulation of wind direction has not changed, and “stability first” is still the main tone, and the space for large-scale expansion is narrow. At present, the valuation and position of the real estate sector have been at a historical low. In the future, the low base effect subsided, the fundamentals were under pressure in early 2022, and the supply and demand of the industry were limited, which aggravated the disharmony between land acquisition, sales and leverage reduction. Suggestions: (1) steady development type: Poly Developments And Holdings Group Co.Ltd(600048) , Vanke A, Gemdale Corporation(600383) ; (2) Growth benefit type: Jinke Property Group Co.Ltd(000656) , Jiangsu Zhongnan Construction Group Co.Ltd(000961) , Seazen Holdings Co.Ltd(601155) ; (3) High quality objects of property management: China Resources Vientiane life, country garden service, Jinke service, Baolong business, etc.
There are still some industry sectors rising against the trend.
The coal sector bucked the trend and rose by more than 2% Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Shanxi Lu’An Environmental Energydev.Co.Ltd(601699) and others led the increase. Coal leader China Shenhua Energy Company Limited(601088) rose more than 6% during the day, and then the increase narrowed.
Guotai Junan Securities Co.Ltd(601211) ‘s research point of view pointed out that on March 7, the General Administration of Customs announced that 35.391 million tons of coal had been imported from January to February 2022, a year-on-year decrease of 13.95%. Coal imports fell significantly from January to February, mainly due to Indonesia’s coal export ban in January and the inversion of coal prices outside China. From January to February 2022, China imported 35.391 million tons of coal, a year-on-year decrease of 13.95%. The total price of imported coal was 37.39 billion yuan, a year-on-year increase of 116.5%, and the price of imported coal decreased. On the one hand, due to Indonesia’s coal export ban in January, Indonesian coal accounts for about 60% of China’s coal imports, which has a great impact; On the other hand, from the perspective of the average price of imported tons of coal, the average import price of coal from January to February was 1056.5 yuan / ton, with a significant year-on-year increase of 151.6%. The average price of imported coal was 961 yuan / ton higher than the average price of 5500k power coal market in Qinhuangdao from January to February. The sharp rise of overseas coal prices led to the inversion of coal prices outside China and restrained import demand. It is expected that after March, due to the continuous price inversion, imports will continue to decline year-on-year.
Guotai Junan Securities Co.Ltd(601211) research point of view is that the conflict between Russia and Ukraine continues, and it is expected that the global coal price will still rise and remain strong, supporting China’s price.
The power sector also bucked the trend and rose sharply. Xiong Hui technology, Shenyang Jinshan Energy Co.Ltd(600396) etc. led the gains.
Tourism, wine and other sectors are also more resistant to decline.
100 billion market value Zhejiang Huayou Cobalt Co.Ltd(603799) two consecutive limit falls, Shanghai nickel soared by 17%
Zhejiang Huayou Cobalt Co.Ltd(603799) this morning, which fell by the limit yesterday, fell again. The current market value of the stock is still more than 110 billion yuan, but the total market value has evaporated more than 26 billion yuan compared with the closing on March 7.
There are market rumors that Qingshan holding group may face the situation that 200000 tons of nickel will not be delivered in an empty order.
Statistics show that Qingshan holding group is an important manufacturer of stainless steel and ferronickel in the world. It has some relations with many A-share listed companies, including Zhejiang Huayou Cobalt Co.Ltd(603799) .
According to the announcement disclosed by Zhejiang Huayou Cobalt Co.Ltd(603799) previously, Zhejiang Huayou Cobalt Co.Ltd(603799) has cooperated with Qingshan technology for many times. Tianyancha data show that Qingshan technology is a subsidiary of Qingshan holdings.
On February 28, 2021, Zhejiang Huayou Cobalt Co.Ltd(603799) general manager’s office meeting decided to approve the company and Qingshan Technology Co., Ltd. (hereinafter referred to as “Qingshan technology”) to establish Huashan nickel cobalt (Indonesia) Co., Ltd. in Indonesia with a registered capital of US $1 million. The company indirectly holds 68% equity of Huashan nickel cobalt through Huatuo International Private Development Co., Ltd., an overseas wholly-owned subsidiary; Huashan import and export (Tongxiang) Co., Ltd. is jointly established in Tongxiang, with a registered capital of 10 million yuan, and the company holds 68% equity; Beijing Huashan Yongsheng Technology Co., Ltd. is jointly established in Beijing, with a registered capital of 5 million yuan, and the company holds 68% equity.
On May 14, 2021, the office meeting of Zhejiang Huayou Cobalt Co.Ltd(603799) general manager decided to agree that the company and Qingshan technology jointly set up Huaxun import and export (Tongxiang) Co., Ltd. in Tongxiang, with a registered capital of 10 million yuan and Zhejiang Huayou Cobalt Co.Ltd(603799) holding 70% equity; Huake import and export (Wenzhou) Co., Ltd. is jointly established in Wenzhou, with a registered capital of 10 million yuan and Zhejiang Huayou Cobalt Co.Ltd(603799) holds 70% equity.
On May 19, 2021, Zhejiang Huayou Cobalt Co.Ltd(603799) general manager’s office meeting decided to approve the company and Qingshan technology to establish huawang import and export (Tongxiang) Co., Ltd. and Hualing import and export (Tongxiang) Co., Ltd. in Tongxiang, with a registered capital of 50 million yuan; Huashan import and export (Wenzhou) Co., Ltd. was jointly established in Wenzhou, with a registered capital of 50 million yuan. Huayou, the three companies, holds 68% equity.
What is the impact on Zhejiang Huayou Cobalt Co.Ltd(603799) of the rumor of Castle Peak Holdings Group’s position explosion Zhejiang Huayou Cobalt Co.Ltd(603799) told the reporter of securities times · e company that at present, there are three projects jointly developed by the company and Qingshan holding group in nickel resources. Among them, the 60000 ton nickel metal quantity nickel cobalt hydroxide hydrometallurgy project in China and Vietnam has been put into trial production, and the operating load rate of the two production lines is about 50%; The other two projects are still under construction. If the three projects can be put into operation smoothly, the market demand will be alleviated at that time. According to the current preliminary judgment, this incident will not affect the construction of cooperation projects between the two sides. First of all, judging from the current situation, this incident will not have a fundamental impact on Qingshan holding group; Secondly, the three projects are Zhejiang Huayou Cobalt Co.Ltd(603799) led.
If there is an accident in Qingshan holding group, other enterprises and suppliers will replace it. Indonesia is a large nickel mining country, and there are many enterprises engaged in the development of nickel resources. Moreover, the project itself is market-oriented operation.
Zhejiang Huayou Cobalt Co.Ltd(603799) also said that the nickel price rise this time was an obvious short squeeze, and foreign capital seized the loophole to do more maliciously. At present, although some Chinese enterprises have metal nickel spot on hand, because these spot are not standard products and do not meet the delivery standards of London nickel in the futures market, they cannot deliver at maturity. Therefore, taking advantage of the uncertainty brought by the war between Russia and Ukraine, foreign investors maliciously forced Chinese enterprises to break their positions in the futures market.
Data show that metal nickel has soared continuously in the global market recently, putting on a short market.
The Research Report of Jinrui futures pointed out that the “forced air war” of lunni in Asian time on the previous trading day intensified, and LME officials announced to cancel all nickel transactions executed on the OTC and LME select screen trading system on or after 00:00 a.m. UK time on March 8, 2022. And postponed the delivery of all spot nickel contracts originally scheduled to be delivered on March 9, 2022. London after hours Exchange announced that LME is not expected to resume nickel trading before March 11, 2022. The resumption date of nickel Trading (the “resumption date”) will be announced to the market through notice no later than 2 p.m. of the previous working day. Jinrui futures reminds investors to avoid the risk of abnormal fluctuation in nickel market and carefully participate in futures trading.
Just this morning, Shanghai nickel soared 17% again.
Hong Kong stocks changed from up to down
The Hong Kong stock market is still very weak.
Hong Kong stock Hang Seng Index, Hang Seng technology index and other important market indexes changed from rise to fall. As of press time, the intraday decline was more than 2% again.
Among the constituent stocks of Hang Seng Index, Li Ning plummeted by more than 10%. Yaoming biology, Anta sports and Hong Kong stock exchange led the decline.
Among the constituent stocks of Hang Seng technology index, Kingdee International, Ping an good doctor and Ali health led the decline.
Alibaba fell more than 4% and continued to brush its historical low.
