After the outflow of northward funds in the previous week, the northward funds returned to the net inflow trend this week.
According to the data, the cumulative net purchase of northbound funds this week was 22.902 billion yuan. Among them, Wednesday bought a net of RMB 12.726 billion, the largest single day net purchase of northbound funds since this year. Monday and Friday bought a net of RMB 4.421 billion and RMB 5.030 billion respectively.
wine making, banking and new energy are favored, medical treatment, tourism and real estate are sold
From the perspective of the industry, the top five net purchases of northward funds this week were wine making, banking, batteries (new energy), photovoltaic equipment and energy metals. Among them, the brewing industry ranked first with an increase of 3.194 billion yuan, and banks and batteries (new energy) ranked second and third with 2.640 billion yuan and 2.508 billion yuan respectively.
On the news, as the elder brother of Baijiu industry, Kweichow Moutai Co.Ltd(600519) has been preparing for digital marketing for six months. APP “I Moutai” was launched on the end of March, which means that consumers can bypass the middlemen to buy directly. Almost in line with this, the prices of all kinds of Maotai liquor under Kweichow Moutai Co.Ltd(600519) banner fell to a certain extent.
In this regard, Sealand Securities Co.Ltd(000750) said that the essence of Maotai pricing is the balance between supply and demand. The pricing is determined by the market supply and demand relationship and has nothing to do with the ex factory price. The drop in the wholesale price will stimulate the actual demand for bottle opening and make the market operation more healthy and sustainable. The consumer demand support below 2500 yuan is strong and will not change the expectation and space for price increase. Meanwhile, in recent years, the performance of Maotai’s rating and stock price has been gradually decoupled. The fluctuation of rating will not affect the company’s fundamentals and performance for a long time. Maotai’s brand value and business model determine that it is still a very scarce deterministic high-quality target in the market.
For Baijiu Baijiu, the open-source securities believe that it is less affected by the recent epidemic and the price of bulk raw materials. On the one hand, liquor demand is stronger. When the epidemic is effectively controlled, Baijiu liquor usually has compensatory consumption. On the other hand, from the national perspective, most Baijiu enterprises returned money in the first quarter, and the difference between the dynamic sales areas was relatively large, strong and less epidemic, and regional sales and Inventory were in good condition.
In terms of net sales, the top five industries are medical services, traditional Chinese medicine, tourism hotels, real estate development and aerospace.
counter trend operation, blind eyes, high throw, low suction, can’t stop
From the perspective of the shareholding ratio of northbound funds, the largest proportion of positions increased by northbound funds this week was Jiangsu Shuangxing Color Plastic New Materials Co.Ltd(002585) , with an increase of 2378 million shares, with an increase ratio of 2.05%. The company’s main business is optical materials, polyester functional films and other polymer materials. In the first quarter of 2022, the predicted net profit was 345372 million yuan, with a year-on-year increase of 25% – 35%.
It is worth noting that the Jiangsu Shuangxing Color Plastic New Materials Co.Ltd(002585) share price began to decline after peaking on December 15 last year. As of April 1, the closing price was 16.25 yuan / share, which has been nearly halved. Northbound capital has gradually increased its position in the stock since December 7, 2021, and its shareholding ratio has increased from 1.13% to 4.84% at present.
Guosen Securities Co.Ltd(002736) said that with the company’s 300000 tons of production capacity being converted to fixed assets and reaching production capacity, 200000 tons of optical production capacity of 1H22 and 700 million square meters of coating workshop of 2h22 being put into operation, the profit contribution of new materials will reach 88% in 2022. In addition, different from market expectations, although raw materials fluctuate sharply in 2022, the company’s gross profit margin and net profit margin remain stable. The main reasons are: 1) the proportion of new materials increases and the price transfer ability is strong; 2) Purchase raw materials with quantity to stabilize the fluctuation of gross profit margin; 3) The new capacity has significant scale and cost advantages over its peers.
Among the stocks with a large proportion of capital reduction in the north this week, Shanghai Yongguan Adhesive Products Corp.Ltd(603681) , Inly Media Co.Ltd(603598) , Btg Hotels (Group) Co.Ltd(600258) and other stocks have the largest proportion of reduction Nanji E-Commerce Co.Ltd(002127) , Tech-Bank Food Co.Ltd(002124) and Shenzhen Jinjia Group Co.Ltd(002191) reduced the largest number of shares, of which Tech-Bank Food Co.Ltd(002124) was reduced by more than 18 million shares, and its share price increased by more than 50% in the past half month.
