Market performance and highlights this week: the central bank decided to cut the reserve requirement by 0.25 percentage points
Market performance: this week (from April 11 to April 15, the same below), the Shanghai Composite Index closed at 3211 points, down 1.25%; The Shenzhen composite index closed at 11649 points, down 2.60%; The gem index closed at 2460 points, down 4.26%. In terms of the style of large and small cap, the large cap index fell 1.07% and the small cap index fell 3.52% this week. Since 2022, the market index has fallen by 15.28% and the small index has fallen by 19.64%, and the small / large ratio is 1.21. Highlights of this week: shentianma a plans to invest 33 billion yuan to build a new display panel; The central bank decided to cut the reserve requirement by 0.25%. Major events of this week: on April 12, Keboda Technology Co.Ltd(603786) issued the restricted stock incentive plan. The performance evaluation objective of the incentive plan is: take the operating income in 2021 as the performance base, and the growth rate of operating income from 2022 to 2024 shall not be less than 15%, 32% and 52% respectively. On April 13, Shandong Kaisheng New Materials Co.Ltd(301069) issued the restricted stock incentive plan, and the performance assessment objectives are: Taking the operating revenue and net profit of 2021 as the performance base, the growth rate of operating revenue and net profit from 2022 to 2024 shall not be less than 35%, 75% and 125% respectively, and the growth rate of net profit shall not be less than 20%, 60% and 160% respectively.
This week’s special topic: the new strategy turns to “preferred stocks”, and the new income in 2022q1 is still considerable
Under the market downturn, new shares are frequently broken, and the fund-raising amount and winning rate make two-way efforts to ensure stable and new income. Since 2022, affected by the repeated epidemic situation and the turbulent situation in Russia and Ukraine, the overall market has fluctuated downward. In addition, there are many unprofitable, overvalued and premium companies in new shares, which makes the batch of breaking of registered new shares appear on the first day. As of March 31, 2022, the number and rate of breaking of science and innovation board and gem in 2022 have exceeded the level after the new regulations in 2021. At the same time, in the context of the overall volatile market in 2022, the first day increase of non broken new shares also decreased significantly, resulting in a further decline in the first day increase of 2022q1 science and innovation board and gem. However, the listing of China Mobile on the main board and the large-scale over raising of mass entrepreneurship and innovation sector have doubled the initial fund-raising amount in 2022q1 month on month and year-on-year. The significant decline in the number of new accounts and the shortlist rate remain below 70%, keeping the success rate of registered new shares at a high level. Under the combined effect of the month on month rise of fund-raising amount and the high success rate, the new class a account with a scale of 300 million in the first quarter can still achieve an enhanced income of nearly 1%.
The new strategy changes to “preferred stocks”, and the low price and small market value strategy has better income. With the breaking of the new rules on inquiry gradually becoming normalized on the first day after the implementation, offline institutional investors began to selectively participate in the breaking of new shares in order to ensure the winning rate. The number of participating accounts and the shortlist rate of the registration system sector on the breaking of new shares are significantly lower than those on the non breaking of new shares, indicating that investors are more cautious about the participation and quotation of new shares with breaking risk, and the strategy of breaking new shares is gradually changing from “playing every new” to “selecting individual shares”. The IPO price and winning rate of PE projects are relatively low.
Key recommended themes and stocks
Smart car theme (torch technology, Huizhou Desay Sv Automotive Co.Ltd(002920) , Foryou Corporation(002906) , Ingenic Semiconductor Co.Ltd(300223) , Thunder Software Technology Co.Ltd(300496) , Lianchuang Electronic Technology Co.Ltd(002036) , Ningbo Joyson Electronic Corp(600699) , Meig Smart Technology Co.Ltd(002881) ); Theme of leisure snacks ( Yanker Shop Food Co.Ltd(002847) , Bestore Co.Ltd(603719) , Three Squirrels Inc(300783) ); Pet and Breakfast theme ( Petpal Pet Nutrition Technology Co.Ltd(300673) , Zhongyin Babi Food Co.Ltd(605338) ); .
Risk tip: the economy has fallen sharply; Major changes in capital market reform policies; The prosperity of the industry is lower than expected.
