panel overview
On Wednesday, A-Shares opened low and went low, led by the gem. There was significant differentiation on the time-sharing chart, and small cap stocks performed well. On the disk, education, traditional Chinese medicine, pharmaceutical commerce, agriculture, animal husbandry, feeding and fishing, chemical pharmacy, decoration building materials, commercial department stores, decoration, packaging materials, railways and highways, banking, culture and media, mining and other industries led the rise; Semiconductor, photovoltaic, energy metals, batteries, wind power, small metals, coal, aerospace 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 withdrew orders behind the IPO of Beijing stock exchange: 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, involving nearly half of major illegal enterprises
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.
Although the peripheral markets generally rebounded from the bottom by more than 20% and entered the technical bull market, the performance of A-Shares was in the doldrums. During the Qingming holiday, the Shanghai index was close to the upper rail of the box, Longi Green Energy Technology Co.Ltd(601012) due to the cancellation of preferential electricity prices in Yunnan, track stocks such as photovoltaic, lithium, wind power and semiconductor fell simultaneously. Our previous judgment was that "the current market is not sustainable. The Shanghai index builds a box of 3000 ~ 3300 points and the gem builds a box of 2450 ~ 2750 points. For individual stocks that suddenly rise, we should dare to cash in; for individual stocks that fall sharply but have not changed their fundamentals, we can absorb low. Before the Saidao stocks stop falling, even if the market rebounds, the upward space will not be opened." Still established. 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.
Investment advice: at present, the main factors that suppress the sentiment of A-share investors have changed, from the situation in Ukraine in the early stage and the Fed's interest rate hike to the epidemic 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.
