Today (March 31), Shanghai and Shenzhen stock markets showed a shock adjustment pattern. After the three major A-share indexes opened low, they suffered a weak shock. In the morning, the Shanghai index once rebounded slightly and fell into shock again after a short red turn. The trend of the gem index and Shenzhen composite index was weaker. After the pulse went down in the morning, they maintained a low weak shock all day, and finally the three indexes closed down.
In this regard, Wanlian Securities believes that looking forward to April, the impact of overseas fluctuations on the A-share market is expected to be weakened. It is expected that the macro liquidity will remain stable, the liquidity of the A-share market will be worry free, and the pressure of foreign capital outflow will be reduced. With the warming of market expectations, risk appetite is expected to improve, and pay attention to the sectors with upward prosperity.
At the same time, the institution further put forward suggestions: 1) some companies have disclosed the performance from January to February, the performance of "steady growth" related sectors is good, and the main line allocation idea continues; 2) With the recovery of market sentiment, the prosperity of the growth sector rebounded, focusing on the rebound opportunities in semiconductor, artificial intelligence, new materials, cloud computing and other fields.
sector:
I. real estate development
Ping An securities mentioned that considering the unabated pressure on the development of the industry, there is still room for improvement on the policy side, and the valuation of the sector is expected to continue to repair. In the medium and long term, with the withdrawal or contraction of some real estate enterprises in the painful period of this round, the overall pattern of the industry is expected to be optimized, and the market share and profitability of brand real estate enterprises with financing and control advantages are expected to be improved.
BOC International Securities said that it was still a good allocation window period at the turn of the first and second quarters, and the expectation of policy improvement was still strengthened. It is suggested to continue to pay attention to the opportunities of the real estate sector. We suggest paying attention to four main lines: 1) leading real estate enterprises with low credit risk, smooth financing channels and high security: Poly Developments And Holdings Group Co.Ltd(600048) , Gemdale Corporation(600383) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) , China Vanke Co.Ltd(000002) , Longhu group and China Resources Land.
2) regional central state-owned enterprises or regional leading private enterprises with high financial report security and stable cash flow: China Construction Development International, Yuexiu real estate, Midea real estate, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) .
3) under the influence of macro and industrial policies such as interest rate reduction, elastic real estate enterprises with large marginal income: Xuhui holding group, Seazen Holdings Co.Ltd(601155) , Jinke Property Group Co.Ltd(000656) .
4) the real estate post cycle property sector with strong income determination and accelerated concentration, as well as the recent credit risk mitigation of related real estate enterprises and elastic reversal: Country Garden service, Xuhui Yongsheng life, poly property, Zhonghai property and xinchengyue service.
II. Digital currency
Ping An Securities pointed out that the digital RMB adopts a two-tier operation mode. Under the premise of central bank centralized management, commercial banks and relevant institutions jointly promote the application pilot. Jingdong, meituan and other companies are leading the Internet industry in the application of digital RMB, mainly due to strong promotion willingness, rich consumption scenarios and large preferential incentives. By the end of 2021, more than 1 million users had used digital RMB in JD, with a cumulative consumption amount of more than 200 million yuan. In terms of consumption scenarios, jd.com and meituan have rich e-commerce and local life application scenarios. In terms of preferential incentives, in addition to the traditional discount coupons, JD became the first company to use digital RMB to pay salaries, and meituan launched digital RMB low-carbon cycling activities. Compared with Jingdong and the US group, WeChat and Alipay were relatively slow to participate in the trial. They did not use a large number of incentives to encourage consumers to use digital Renminbi.
The agency further analyzed and grasped the digital RMB investment opportunity from two aspects: hardware equipment and software system. At present, the digital RMB is in the initial stage of development, and opportunities and challenges are growing. Hardware manufacturers may benefit from the market opportunities brought by the digital RMB "Hard Wallet". A major feature of digital RMB is that it supports payment by hardware such as mobile NFC, bracelet and wearable devices. With the improvement of the acceptance of relevant "hard wallets", relevant digital RMB hardware developers will have the opportunity to obtain more relevant orders and promote the improvement of performance. Software manufacturers may benefit from the business growth brought by the upgrading of the financial system. With the popularity of digital RMB, relevant financial institutions need to upgrade the matching of relevant software systems, or will bring huge demand for system upgrading for relevant software manufacturers.
Shenyin Wanguo Securities believes that more combinations of digital currency, distributed ledger technology and RMB cross-border payment system are expected in the future. It is expected to significantly reduce the time and transaction cost of the current cross-border system. At present, the pilot DCEP is mainly used in Chinese retail scenarios and is not very suitable for cross-border clearing. In the future, the wholesale central bank digital currency supporting cross-border synchronous settlement (PVP) mechanism may be a better technical roadshow.
Related targets: 1) it is suggested to focus on cooperation with the central bank's data research institute, or password and payment providers will provide underlying technical support, Beijing Infosec Technologies Co.Ltd(688201) / Koal Software Co.Ltd(603232) / Beijing Certificate Authority Co.Ltd(300579) , etc. 2) Digital currency will promote bank IT suppliers to provide industrial chain status, Yusys Technologies Co.Ltd(300674) / Shenzhen Sunline Tech Co.Ltd(300348) / Yunnan Nantian Electronics Information Co.Ltd(000948) / Northking Information Technology Co.Ltd(002987) , etc; 3) Grg Banking Equipment Co.Ltd(002152) / Lakala Payment Co.Ltd(300773) etc. are expected to participate in payment promotion; 4) ATM machines and electronic wallets need to be reformed, Client Service International Inc(300663) / Feitian Technologies Co.Ltd(300386) / Newcapec Electronics Co.Ltd(300248) / Guangdong Tecsun Science & Technology Co.Ltd(002908) , etc.
one drawing summary:
