Today (April 1), Shanghai and Shenzhen stock markets showed a pattern of low opening and high going, shock and rebound. Affected by the decline of U.S. stocks overnight, the three indexes opened low in the morning, and then gradually stabilized upward. The three indexes turned red one after another, and the rebound pattern was obvious. In the afternoon, the index slowed down and maintained a high shock, and finally the three indexes closed positive.
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.
binary universe
Guosen Securities Co.Ltd(002736) pointed out that metauniverse will reconstruct the production and valuation system of games. Metauniverse is expected to become the next generation of media beyond the Internet, subvert and create a new ecology. 1) The game will become the key content entrance of the metauniverse. Metauniverse will bring more immersive, richer and diversified needs and release more content needs; The natural interaction of game content and community atmosphere are expected to become the starting point of "meta universe" in the new era; From products to platforms, the attributes of the game itself are expected to change dramatically;
2) the yuan universe game industry may usher in a new round of dividends and reshape the game business model and valuation system. The underlying technologies (blockchain, NFT, etc.), back-end infrastructure (cloud computing, Internet of things, digital twins, etc.) and front-end devices (VR, AR, Mr, etc.) that metauniverse relies on can be combined with multiple contents such as digital collections and virtual digital people, which provides more possibilities for the innovation of mobile games in creativity, commerce and sociality, and drives the continuous innovation of the game industry; The game industry ushers in not only the release of demand, but also the great changes in ecology, operation and capital market valuation system. Roblox's popularity may only be the beginning.
Huaxin Securities believes that metauniverse needs a gradual development and improvement process from concept to application, and its process will also bring fluctuations at the enterprise end and valuation end. The meta universe industrial chain will not be a flash in the pan. Based on the participation of large users and the linkage between upstream and downstream of the industrial chain, it is expected to promote it to become a new engine of economic development. Science and technology promote the development of meta universe in the direction of goodness, take users as the center and empower Web3 0 value the social and commercial value of the Internet, and then give an overweight rating to the meta universe industry.
In addition, Anxin Securities said that in China, the strongest certainty of metauniverse in 2022 is the virtual digital man and NFT, which are located in the two sectors of "content and scene, collaborators" that China is good at. In the era of mobile Internet, content is divided into two parts from the perspective of realization - content works and realized content. Virtual digital people serve both content works and realized content; NFT is a mechanism for revaluation of digital assets.
Tianfeng Securities Co.Ltd(601162) pointed out that after more than two months of correction at the beginning of the year, the A-share yuancosmos sector regained its safety margin, which has reflected the trend of stabilization and recovery. We believe that yuancosmos sector is a continuous theme throughout 2022, and we continue to suggest focusing on it. Recently, focus on Pico shipments, April yuan universe conference and other catalysis.
one drawing summary:
