2022q1 fund position analysis: business retail, textile and clothing sectors increased their holdings, and the market value proportion of shares held by Meihu sector increased. Based on the classification of Shenwan commercial retail industry, textile and garment industry and beauty care industry, and the stock pool composed of 6 stocks included in the diamond industry.
(1) from the perspective of market value of positions, the proportion of heavy stock market value in commerce and retail sector is 0.25% / mom + 0.08pct, that in textile and clothing sector is 0.26% / mom -0.0007pct, that in cultivation and drilling sector is 0.12% / mom + 0.04pct, and that in beauty care sector is 0.36% / mom + 0.08pct.
(2) from the specific target market value, ① commerce and retail sector: the top three targets of growth are Beijing United Information Technology Co.Ltd(603613) , Wangfujing Group Co.Ltd(600859) , Wuhan Department Store Group Co.Ltd(000501) ; ② Textile and clothing sector: the top three targets of the increase are Hla Group Corp.Ltd(600398) (heavy warehouse accounts for the proportion of circulating shares + 2.45pct to 3.24% month on month), Biem.L.Fdlkk Garment Co.Ltd(002832) (heavy warehouse accounts for the proportion of circulating shares + 3.40pct to 23.83% month on month), DEA shares (heavy warehouse accounts for the proportion of circulating shares + 7.66pct to 10.08% month on month); ③ Cultivating the drilling sector: the top three targets of the increase are North Industries Group Red Arrow Co.Ltd(000519) (heavy positions account for the proportion of circulating shares + 2.42pct to 6.32%), Henan Liliang Diamond Co.Ltd(301071) (heavy positions account for the proportion of circulating shares + 7.51pct to 12.71%), Sf Diamond Co.Ltd(300179) (heavy positions account for the proportion of circulating shares + 4.56pct to 10.24%); ④ Meihu sector: Imeik Technology Development Co.Ltd(300896) (heavy position accounting for the proportion of circulating shares + 7.15pct to 19.16%), Yunnan Botanee Bio-Technology Group Co.Ltd(300957) (heavy position accounting for the proportion of circulating shares – 15pct to 6.53%), Fujian Green Pine Co.Ltd(300132) (heavy position accounting for the proportion of circulating shares + 0.28pct to 0.28%); The first three declines were Shanghai Jahwa United Co.Ltd(600315) (heavy positions accounted for -2.82pct to 0.49% of the proportion of circulating shares month on month), Proya Cosmetics Co.Ltd(603605) (heavy positions accounted for -0.41pct to 1.80% of the proportion of circulating shares month on month), Nanjing Cosmos Chemical Co.Ltd(300856) (heavy positions accounted for -3.85pct to 8.03% of the proportion of circulating shares month on month). In addition, the market value of Bloomage Biotechnology Corporation Limited(688363) positions increased from 69.78 million yuan to 74.03 million yuan (the proportion of heavy positions in circulating shares increased from + 0.16pct to 0.64% month on month).
L’Oreal Group’s 2022q1 financial report: the highest increase in the same period in recent 15 years, with + 20% growth in high-end skin care / active skin care products / professional hairdressing. In 2022q1, L’Oreal Group achieved revenue of 9.06 billion euros / yoy + 19.0%. In the first three months of this year, consumer purchase behavior was not affected by inflation, and the global beauty market continued to maintain a growth trend. Despite the supply chain problems, the company’s consumer goods division once again outperformed the market. At the same time, the company made full use of the omni channel strategy, the offline sales recovered significantly, and the e-commerce continued to grow, accounting for 25.8%. 1) By region, all regions achieved double-digit growth. 2) By category, the growth of mass skin care slowed down, and the growth of high-end skin care / active skin care products / professional hairdressing achieved + 20%. In terms of profitability, the gross profit margin of L’Oreal Group in 2021 was 73.9% / yoy + 0.8pct, and the net profit margin was 14.2% / + 1.5pct. Among them, the operating profit margin of the active health cosmetics department is the highest of 25.2%, followed by the high-end cosmetics department of 22.8%.
Investment recommendations: investment recommendations: look good at the national beauty beauty brand, recommend the upstream compliance medical beauty leader Imeik Technology Development Co.Ltd(300896) \ ; Cultivate the diamond sector to maintain high prosperity, continue to recommend Henan Liliang Diamond Co.Ltd(301071) , North Industries Group Red Arrow Co.Ltd(000519) , and suggest paying attention to Henan Huanghe Whirlwind Co.Ltd(600172) , Sf Diamond Co.Ltd(300179) , Beijing Worldia Diamond Tools Co.Ltd(688028) and Sinomach Precision Industry Co.Ltd(002046) ; Optimistic about the prosperity of gold and jewelry sector, it is recommended to pay attention to Chow Tai Seng Jewellery Company Limited(002867) , Chow Tai Fook, Guangdong Chj Industry Co.Ltd(002345) and Mclon Jewellery Co.Ltd(300945) .
Risk tip: the promotion of new products is less than expected, the demand for diamond cultivation is less than expected, and the macroeconomic growth rate is declining.
