panel overview
On Wednesday, A-share differentiation, the Shanghai Stock Index fluctuated before the 3300 point close, and the gem index opened low and went low. On the disk, education, real estate, steel, traditional Chinese medicine, decoration and building materials, commercial department stores, decoration and decoration, railway and highway, banking, games and other industries led the rise; Semiconductor, photovoltaic, battery, energy metal, wind power, small metal, aerospace, coal and other industries led the decline. In terms of theme stocks, horse racing concept, vocational education, chicken concept, covid-19 medicine, traditional Chinese medicine concept, hair medicine, online education, electronic ID card and digital currency led the rise; Sodium ion battery, middle core concept, high transfer, MLCC, blade battery, IGBT concept, passive components, hit battery, fluorine chemical industry, power battery recycling, automobile chip, etc.
message surface
16 companies withdraw orders Beijing stock exchange IPO behind: accelerating the normalization of audit
On March 31, Hangzhou Luqiao, the innovative layer company of the new third board, announced that it had decided to terminate the public offering of shares and be listed on the Beijing stock exchange for examination. According to data statistics, in the first quarter of this year, a total of 16 enterprises of the Beijing stock exchange applied for termination of IPO, all of which took the initiative to withdraw orders in the inquiry stage. Among them, 4 withdrew in January, 1 in February and 11 in March.
227 listed companies hit the delisting red line enterprises involving major violations account for nearly half
Since 2022, the relevant provisions of compulsory delisting are gradually eliminating some listed companies from the capital market. Data show that 227 companies have touched the delisting warning line. Among the 227 listed companies that stepped on the relevant red line, the enterprises involved in the major illegal red line accounted for more, accounting for nearly half. In these listed companies with major violations, how to ensure the diligence of third-party institutions such as audit institutions has also been a hot topic in the capital market in recent months.
top ten brokerage strategies: rebound rather than reverse
Citic Securities Company Limited(600030) : the epidemic accident affected the pace of steady growth. The urgency of policy overweight in the second quarter increased significantly. It is expected that the steady growth policy will shift from full deployment to centralized development. A number of pessimistic expectations in the market bottomed out ahead of the fundamentals in advance. Since the second quarter, the negative impact of the economy on the market is weakening. It is suggested to grasp the trend of mid-term repair in the second and third quarters and firmly layout the “two low” varieties.
Jufeng viewpoint
Pre market judgment: overseas markets have entered a technical bull market, and A-Shares are expected to catch up after the Qingming Festival to narrow the scissors gap with overseas markets.
In fact, the judgment is a little too optimistic. The three major A-share indexes opened lower, medicine and education strengthened significantly, and track stocks such as photovoltaic, semiconductor and lithium battery continued to decline. After the opening, banks and real estate strengthened again, and breeding and seed stocks rose sharply; Track stocks continued to decline, showing a pattern of strong Shanghai and weak Shenzhen.
Longi Green Energy Technology Co.Ltd(601012) due to the cancellation of preferential electricity price in Yunnan, the price of photovoltaic, lithium, wind power, semiconductor and other track stocks fell simultaneously. In the afternoon, the banking, infrastructure, real estate, steel, cement and other sectors rose sharply. The Shanghai stock index once turned red and set a new rebound high since late March, just one step away from 3300 points at the top of the box. However, the decline of semiconductors, photovoltaic and batteries deepened, the gem fell below the low point in early trading, and the market failed to go further.
Before the Qingming Festival, we judged that ” current market is not sustainable. The stock index builds 3000 ~ 3300 point box and the gem builds 2450 ~ 2750 point box. For individual stocks that suddenly pull up, we should dare to cash in; for individual stocks that fall sharply but have not changed their fundamentals, we can buy low. Before the track stocks stop falling, even if the market rebounds, the upward space will not open. ” at present, This judgment is still true peripheral markets have generally rebounded from the bottom by more than 20% and entered the technical bull market. The Shanghai index has approached the upper rail of the box, and there is still a lot of suspense about whether it can break through since the market is still a box shock, it is a relatively safe operation to sell high and absorb low in the recent hot sectors.
From today’s market performance, low price earnings ratio, low price and low circulation stocks are relatively strong, while high price stocks, high-end stocks and overvalued stocks are still in adjustment.
investment suggestions: at present, the main factors that suppress the sentiment of A-share investors have changed, from the situation in Ukraine and the Fed’s interest rate hike to the epidemic situation in China and the slowdown of economic growth. Stable expectations and steady growth policies will accelerate the construction of the market bottom, and A-Shares will rebound in the form of building a box in the future. It is suggested to focus on three main lines: first, companies with quarterly growth exceeding expectations; Second, new and old infrastructure benefiting from steady growth; Third, aviation, airport, tourism and other sectors facing the inflection point in the post epidemic era.
