This week (from April 18 to April 22, 2022, the same below) Hang Seng Index - 4.09%. This week, the Dow Jones industrial average was - 1.86%; S & P 500 index - 2.75%; NASDAQ - 3.83%. The international standards board for sustainable development (issb) plans to issue a set of standards for ESG disclosure by the end of the year. The international standards board for sustainable development (issb) plans to issue a set of standards for ESG disclosure by the end of the year, which is likely to be adopted worldwide. This will have a great impact on Chinese companies. Many Chinese companies have listed abroad, such as the United States and Hong Kong. Recently, some companies have gone to Switzerland and Germany to issue depositary receipts. These countries are very likely to adopt the ESG disclosure standard within two years. If you want to go public, you need to disclose it locally. If it is not disclosed, it cannot be listed, so it is difficult to get the support of capital.
Zhihu was officially listed on the stock exchange of Hong Kong and became the first China concept Internet company to return to Hong Kong in the form of dual main listing
On April 22, Beijing time, Zhihu, China's largest online Q & a community, was officially listed on the stock exchange of Hong Kong with the stock code of "2390", becoming the first China concept Internet company to return to Hong Kong in the form of dual main listing. The listing price is set at HK $32.06 per share. A total of 26 million class a ordinary shares of the company from early investors will be sold. The selling shareholders will receive the net proceeds from the global offering of nearly HK $800 million. At the same time, we know that we will not issue new shares, which also means that we know that we have no purpose to raise funds in Hong Kong this time.
Pico tiktok will be on the tiktok heavyweight football match live broadcast on its own content platform. In April 24th (Sunday) 00:30, Pico joint jitter will be synchronized live broadcast of heavyweight football matches on the Bayern Pico vs Dortmund. It is reported that the live broadcast of the Bundesliga on Pico platform is the first live broadcast of VR platform events in China.
Investment suggestions:
Generally speaking, the performance period of the newspaper industry in the first quarter of 2022 is approaching, and the profit growth of China's science and technology Internet stocks may face a short-term test. On the one hand, pay attention to the mild promotion trend of game fundamentals under the comprehensive influence of "home bonus", edition number issuance and recovery and macro consumption slowdown. At the same time, pay attention to the phased impact of local epidemic on local life (supply), e-commerce (logistics) and advertising (the demand of advertisers in some industries). It does not rule out that the market expectation of 22h1 performance of some companies may still be adjusted. On the other hand, after the local epidemic is alleviated, we will continue the progress of offline resumption of work and recovery of consumption scenes, as well as the potential recovery trend of the investment budget transmitted to online advertising. According to the marginal recovery rhythm / elasticity, we expect local life e-commerce advertising. Suggestions: 1) the game industry is improving, with strong short-term fundamental toughness, and pay attention to Netease and Tencent; 2) After the local epidemic situation is alleviated, local life and e-commerce may be expected to recover quickly. Pay attention to meituan, jd.com, pinduoduo and Alibaba; 3) online advertising industry is waiting for demand improvement, focusing on structural share growth platforms, such as Kwai Fu and beep. We believe that overseas markets are concerned about this week: 1) the real interest rate in the United States is close to becoming positive, and from the perspective of the global supply chain, the sudden epidemic still poses pressure on the production of exporting countries, so the global inflationary pressure may not be relieved in the short term under the supply. 2) The first quarterly report of overseas technology giants will be released one week later. We believe that from the perspective of consumer credit and the recovery speed of small and medium-sized enterprises, the overall growth rate of e-commerce may be better than that of advertising, but consumer electronics is still under obvious inflationary pressure. We suggest that overseas technology giants pay primary attention to Amazon and Microsoft.
Risk tips: 1. Overseas epidemic control is less than expected; 2. Sino US trade friction; 3. The risk of tightening Internet supervision; 4. The tightening of liquidity environment exceeded expectations; 5. Competition in overseas markets has intensified.
