Industry hot spots this week: ① on January 6, the general office of the State Council issued the overall plan for the pilot of comprehensive reform of market-oriented allocation of factors; ② On January 4, tmall global and cbndata released a forward-looking report on import consumption trends.
Market performance: last week (2021.1.04-2021.1.07), the retail trade index fell (- 0.27%), outperforming Shanghai Stock Index (- 1.65%), Shanghai and Shenzhen 300 index (- 2.39%) and Shenzhen Component Index (- 3.46%). Compared with other industries, the commerce and retail sector ranked 17th in the rise and fall of 30 industry categories last week.
Comments on New Year’s day consumption: the Ministry of Commerce disclosed the consumption data of new year’s Day holiday in key monitoring provinces and cities across the country. Compared with the three-day small and long holidays of Mid Autumn Festival and may day last year, the consumer market on New Year’s day has made a stable start; Retail growth in all provinces and regions increased year-on-year, focusing on provinces and cities, with a year-on-year increase of 18.8% in Beijing, 12.8% in Shanghai and 6.5% in Chongqing. The equivalence ratio of major disclosure cities in Jiangsu and Sichuan, such as Nanjing and Chengdu, increased. The current consumer market environment and policy environment are positive and optimistic. Considering the upcoming Spring Festival holiday (January 31 – February 6), the longer holiday will lead to increased consumption opportunities, and the overall consumer sentiment may continue or even rise further. We expect that the growth rate of the retail market in 2022 will show signs of stabilizing and improving. Specifically, this year’s new year’s holiday consumption basically continues the market structural characteristics of the early stage: ① the positive role of high-end positioning and business district theme activities in restoring passenger flow and boosting sales; ② From a policy perspective, as an important means to promote consumption, local governments are jointly holding various consumption promotion activities. At the same time, they are not reducing the intensity of issuing consumption vouchers, boosting consumers’ consumption ability and enthusiasm from the demand side, and constantly leveraging the multiplier effect.
E-commerce and agent operation sector: Suning.Com Co.Ltd(002024) signed a cooperation agreement with Lanzhou beef Ramen Industry Association.
Supermarket: Metro Chengdu has transformed its three stores into member stores.
Department store and comprehensive business sector: Wenfeng Great World Chain Development Corporation(601010) repurchase shares by means of centralized bidding transaction; Xinjiang Youhao(Group)Co.Ltd(600778) repurchase of shares of the company; Shanghai Yuyuan Tourist Mart (Group) Co.Ltd(600655) repurchase A-Shares through centralized bidding transaction.
Cosmetics sector: Bloomage Biotechnology Corporation Limited(688363) the company’s deputy general manager and core technicians resigned; Shanghai Jahwa United Co.Ltd(600315) repurchase shares by means of centralized bidding transaction; Shanghai Shangmei submits an application for overseas stock issuance to the CSRC; Yunnan Botanee Bio-Technology Group Co.Ltd(300957) was selected as a high-tech enterprise again.
Gehu sector: Hangzhou Haoyue Personal Care Co.Ltd(605009) repurchase the company’s shares for the first time by means of centralized bidding transaction; Winner Medical Co.Ltd(300888) cooperate with professional investment institutions; Xiamen Yanjan New Material Co.Ltd(300658) the controlling shareholder intends to continue the share reduction after the expiration of the share reduction plan.
Recommended target: keep the logic of Omni channel configuration unchanged. It is recommended to focus on retail channel Tianhong Department Store (002419. SZ), Wangfujing Group Co.Ltd(600859) (600859. SH), Yonghui Superstores Co.Ltd(601933) (601933. SH), Jiajiayue Group Co.Ltd(603708) (603708. SH), Chengdu Hongqi Chain Co.Ltd(002697) (002697. SZ), Vats Liquor Chain Store Management Joint Stock Co.Ltd(300755) (300755. SZ), Hangzhou Onechance Tech Corp(300792) (300792. SZ), Shanghai Lily&Beauty Cosmetics Co.Ltd(605136) (605136. SH); And Shanghai Jahwa United Co.Ltd(600315) (600315. SH), Proya Cosmetics Co.Ltd(603605) (603605. SH), Guangdong Marubi Biotechnology Co.Ltd(603983) (603983. SH), Yunnan Botanee Bio-Technology Group Co.Ltd(300957) (300957. SZ), Hangzhou Coco Healthcare Products Co.Ltd(301009) (301009. SZ), Hangzhou Haoyue Personal Care Co.Ltd(605009) (605009. SH), Winner Medical Co.Ltd(300888) (300888. SZ), Chongqing Baiya Sanitary Products Co.Ltd(003006) (003006. SZ) of consumer products.
Risk warning: the risk of insufficient market confidence; Risk that the progress and effect of transformation are lower than expected.
