Today (January 4), Shanghai and Shenzhen stock markets opened high and went low. At the beginning of the session, there was a pulse downward rhythm. It was near noon that the stock index was able to stop falling and maintain a low shock; In the afternoon, the decline of the Shanghai index narrowed, while the gem index was dominated by horizontal adjustment, with a panoramic view of the weak pattern.
In this regard, Aijian Securities said that the overall market risk is small, pay attention to short-term fluctuations, and there are still many market opportunities. Only the style is switched to small and medium-sized market value again. At present, the policy environment is good and the liquidity expectation is good. We can still grasp the trading opportunities in the market. In terms of opportunities, we continue to pay attention to the recovery of low-level sectors. The time and range of preliminary adjustment related to lithium resources are large, but the industry fundamentals are still good. Pay attention to the recovery opportunities. At the same time, the activity of science and technology and military industry can also continue to pay attention, follow the market and grasp trading opportunities.
However, Sealand Securities Co.Ltd(000750) pointed out that it was optimistic about the market in January, and the three factors of economy, liquidity and policy formed a resonance and actively went long. Among them, the valuation expansion dominated by loose liquidity and steady growth policy was the main driving force for the agitation in spring, and the growth style is expected to become the main line of the market after phased adjustment.
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unitary universe concept
New era Securities pointed out that the meta universe may be understood as the next generation Internet, which will produce different connections and experiences of time and space between people and things based on different terminals, and the ultimate form will depend on the development of technology. At present, we believe that there are several directions that can be grasped around the meta universe. First, new hardware terminals and consumer arvr devices can be compared with the situation of mobile phones; Second, the new operating system or operating platform built on arvr devices, represented by Microsoft, Google, apple, wechat and other platform companies; Third, in addition to the transferred entertainment and enterprise industrial applications, or new applications with a volume of 100 million will be generated, and the business model will be extended by changing the new interaction mode of connection and experience.
Open source Securities said that the conceptual framework of metauniverse and its representative direction of the Internet may have become a market consensus. At present, the investment layout should give more consideration to its landing path and commercialization feasibility. Based on this, we once again suggest to focus on four main lines: Open World Games and UGC game platform, virtual human, VR / Ar / MR and NFT.
Southwest Securities Co.Ltd(600369) believes that the main line of metauniverse technology is promising in 2022. Specifically, the release of industrial policies is good, and the prospect of virtual human is worth looking forward to. We believe that the current technologies related to virtual human (motion capture, expression capture, real-time rendering, etc.) are relatively mature, the existing technical barriers show a downward trend, and there is still more room for the commercial application scenarios of related products; As one of the important applications in the virtual reality industry, virtual human is expected to enjoy the dividend release period brought by favorable policies. With technology upgrading, downward cost and large-scale volume, the application scenario of virtual human may expand from tob end to TOC end.
In addition, the game market continues to expand, and the industry policy has gradually bottomed out, waiting for the release of a new round of edition numbers. The introduction of the new anti addiction regulations for minors is more based on the protection of teenagers' health than on a specific game company. Stricter industrial policies will help the industry to be more standardized and transparent, and effectively protect the physical and mental health of teenagers from a correct perspective. In the medium and long term, it is conducive to the sound development of the whole industry.
From the perspective of investment suggestions, under the potential long-term industrial trend of yuancosmos, after the industrial policy bottoms out, it is recommended to pay attention to the rich product reserves in the game field, the high probability of fund explosion Perfect World Co.Ltd(002624) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) and Hubei Century Network Technology Inc(300494) of "Internet marketing + game" two wheel drive and cloud game technology; The field of virtual human focuses on Mango Excellent Media Co.Ltd(300413) with rich content reserves, strong IP operation capability and outstanding virtual reality technology.
2、 concept of traditional Chinese medicine
Soochow Securities Co.Ltd(601555) said that the state strongly supports the development of traditional Chinese medicine, inherits and innovates the development of traditional Chinese medicine, which is not only a major event for the great rejuvenation of the Chinese nation, but also an inevitable requirement for building a health development model with Chinese characteristics in which traditional Chinese medicine and Western Medicine complement and develop in a coordinated manner; High quality and innovative development of drugs are the main theme in the next 5-15 years. In 14th Five-Year, the 12 full text of the plan referred to clinical value and clinical urgent need, 12 references to innovative drugs and 11 references to generic drugs. The SFA will further encourage and support the research and development of innovative drugs and generic drugs with clinical value.
China Galaxy Securities Co.Ltd(601881) securities also mentioned that national policies continue to support the development of traditional Chinese medicine industry. The traditional Chinese medicine industry is one of the key industries protected by the state. The relevant national policies actively encourage the development of the traditional Chinese medicine industry and the traditional Chinese medicine decoction piece industry. The relevant regulatory departments of various provinces have also formulated relevant policy provisions to increase support for the traditional Chinese medicine industry and related enterprises. The continuous improvement of the industry supervision system and the support of industry regulations and policies are conducive to the sustainable and healthy development of the traditional Chinese medicine industry.
The agency further analyzed that brand traditional Chinese medicine has the ability to raise prices. Recently, the ex factory prices of Beijing Tongrentang Co.Ltd(600085) Angong Niuhuang Pill and Chongqing Taiji Industry (Group) Co.Ltd(600129) Huoxiang Zhengqi oral liquid have increased, which has aroused the market's attention to the price raising ability of brand traditional Chinese medicine. Due to the price rise of upstream raw materials, brand traditional Chinese medicine has become the main force of price rise. Brand traditional Chinese medicine has both drug and consumption attributes. It has strong independent consumption and superimposed consumption upgrading. It is basically not affected by the cost control of medical insurance. In recent years, due to the limitation of precious traditional Chinese medicine raw materials, the price has increased significantly.
In terms of investment suggestions, we are optimistic about innovative traditional Chinese medicine, brand traditional Chinese medicine with consumption attribute and scarcity attribute, and the transformation of high-quality and low-cost traditional Chinese medicine manufacturers. It is recommended that Jianmin Pharmaceutical Group Co.Ltd(600976) , the in vitro cultivation bezoar business of its affiliated subsidiary continues to rise in both volume and price under the background of shortage of natural bezoar, and the price of its OTC brand Longmu Zhuanggu granules has also been raised. It is recommended to pay attention to Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) , Beijing Tongrentang Co.Ltd(600085) , Guangyuyuan Chinese Herbal Medicine Co.Ltd(600771) , China Resources Sanjiu Medical & Pharmaceutical Co.Ltd(000999) , etc.
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