The index continued to weaken, with the Shanghai index falling below 3000 points, a new low since July 2020. At present, there are more than 4300 stocks falling in the two cities, with nearly 300 stocks falling by more than 9%, and the weights of Jiangsu Hengrui Medicine Co.Ltd(600276) , New China Life Insurance Company Ltd(601336) , China Merchants Bank Co.Ltd(600036) and China Merchants Bank Co.Ltd(600036) all fell by more than 7%
after a lapse of 22 months, the Shanghai stock index broke the integer mark in the intraday, A-Shares focused on 3000 points, and the comprehensive reduction of reserve requirements was officially implemented today
The Shanghai index fell below 3000 points.
On April 25, the A-share market fell across the board, with more than 4300 shares floating green. As of press time, the three major indexes have all fallen by more than 2%. After a lapse of 22 months, the Shanghai index has fallen below 3000 points The latest market value of A-Shares has shrunk by more than 2.4 trillion yuan compared with the previous trading day. From the perspective of sectors, nonferrous metals, semiconductors and Huawei concepts led the decline
At one time, the bull market standard bearer securities stocks fell by nearly 2%, but as of the midday closing, the decline narrowed to only about 0.5%. Huaan Securities Co.Ltd(600909) closed the daily limit, and Boc International (China) Co.Ltd(601696) , Caida Securities Co.Ltd(600906) and other contrarian stocks rose by more than 3%.
On the news side, the RMB has depreciated significantly against the US dollar recently, and both the offshore and onshore exchange rates have fallen below 6.5% According to the data, the offshore RMB has fallen continuously against the US dollar since April 19. As of 11:30 on April 25, the US dollar against the offshore RMB reported 6.5931, falling more than 450 points during the day, the lowest level since April 2021. Why did it fall? Wang Chunying, deputy director of China’s State Administration of foreign exchange and spokesman, said: “the changes of the RMB exchange rate against the US dollar in recent days are mainly affected by the trend of the international financial market and multiple factors of market supply and demand.”
At the same time, the comprehensive RRR reduction was officially implemented today, which released a total of 530 billion yuan of long-term funds. Relevant institutions believe that the market has partially shown the characteristics of the bottom China Securities Co.Ltd(601066) Chen Guo team recently released a research report that, from the medium-term perspective, A-Shares are building a U-shaped bottom area. The team pointed out that on the one hand, the policy bottom and credit bottom may have been roughly confirmed, and the subsequent profit bottom will be gradually completed in the medium term; On the other hand, the market valuation and sentiment indicators have also entered the bottom area of the market. Although there is still the possibility of continued decline in the follow-up, the space in terms of odds is relatively limited, and the probability of the follow-up market continues to grind to the bottom.
Guojun strategy team said that the valuation of Shanghai Stock Exchange is close to the extreme moment of 2018, and the valuation is basically flat from the low point of the epidemic impact in 2020, indicating that with the adjustment of the market, the medium and long-term allocation value is beginning to appear.
CICC Strategy Research Report believes that A-Shares have partially shown the bottom characteristics in terms of policy, valuation, capital and behavior signals. Combined with the current growth environment, it may take time to wait for a clearer inflection point. We still maintain the judgment that the current market is in the “bottom grinding” period. Although there may be repeated in the short-term market, the opportunities gradually outweigh the risks in the medium and long term, There is no need to be too pessimistic about the future performance.
delayed the disclosure of the annual report, and the decline of ningwang was as high as 5.55%
The sharp decline of large cap stocks is an important reason for the expansion of the decline of the three indexes. The decline of Contemporary Amperex Technology Co.Limited(300750) in the morning trading of the first heavyweight stock on the gem once expanded to 5.55%, and the current price fell below 400 yuan / share, returning to the level at the beginning of June last year as of midday closing, Contemporary Amperex Technology Co.Limited(300750) fell 4.23%
In terms of news, Contemporary Amperex Technology Co.Limited(300750) announced on the 24th that the disclosure of the first quarter report of 2022 was originally scheduled for April 28, 2022, and the time was postponed to April 30, 2022.
Recently, A-share companies such as chick Eagle farming and animal husbandry, Modern Avenue Group Co.Ltd(002656) and others have recently issued delayed disclosure of the financial reports of 2021 and the first quarter of 2022. According to the statistics of data treasure, compared with the forecast date, the market value of most companies that delayed the disclosure of financial reports was less than 10 billion yuan, and the number of days delayed was no more than 10 days. Some companies delayed for nearly two months, such as Zhejiang Great Southeast Co.Ltd(002263) , Shanghai Zhongyida Co.Ltd(600610) . The forecast disclosure date of the first quarter report of 2019 of the two companies was April 30, 2019, but the actual disclosure date was June 28 of the same year.
It should be noted that the delay in the disclosure of financial reports by listed companies has a certain impact on the company’s share price. Historically, among the delayed financial reporting stocks, the number of falling stocks accounted for more than 70% from the notice date to the next five days, and the number of companies whose share prices fell on the fifth day after the actual disclosure accounted for about 60%.
Contemporary Amperex Technology Co.Limited(300750) share price has fallen by about 40% from the high point at the end of last year to the current (from December 3, 2021 to April 22, 2022), ranking among the top declines of large cap stocks; Among the stocks with a market value of more than 200 billion (reference date: December 3, 2021), Sungrow Power Supply Co.Ltd(300274) , Great Wall Motor Company Limited(601633) , Eve Energy Co.Ltd(300014) , Will Semiconductor Co.Ltd.Shanghai(603501) decreased by more than 45% in the same period.
performance decline dragged down the stock price, Jiangsu Hengrui Medicine Co.Ltd(600276) approaching the limit
In fact, a large number of large cap stocks fell sharply in the morning. According to the statistics of data treasure, among the stocks with a market value of more than 100 billion, the number of declines accounted for more than 80% Jiangsu Hengrui Medicine Co.Ltd(600276) , Longi Green Energy Technology Co.Ltd(601012) , China Merchants Securities Co.Ltd(600999) , Ping An Bank Co.Ltd(000001) and others all decreased by more than 5%, of which approached the limit; In contrast, Kweichow Moutai Co.Ltd(600519) decreased by less than 1%. Dragged down by the decline in share prices, the market value of the latest A shares of many companies fell below 100 billion yuan, such as Trina Solar Co.Ltd(688599) , Unigroup Guoxin Microelectronics Co.Ltd(002049) , China Merchants Securities Co.Ltd(600999) , etc. The market value of photovoltaic Mao Longi Green Energy Technology Co.Ltd(601012) in early trading has evaporated by more than 100 billion.
According to the company, the revenue of 6 Jinfa Labi Maternity & Baby Articles Co.Ltd(002762) 021, a pharmaceutical giant, was 25.9 billion yuan, down 6.59% from 27.735 billion yuan in the same period of last year; In the first quarter of 2022, the revenue decreased by 20.93% and the net profit decreased by 17.35%, which is the first financial reporting quarter in which the company’s performance has declined since its listing. Since its high on January 8, 2021, its share price has fallen by nearly 70%.
China Merchants Securities Co.Ltd(600999) first quarter net profit fell nearly 43% year-on-year, revenue fell 38.01% year-on-year, and net profit fell to a new high in the same period of nearly six years.
In addition to Jiangsu Hengrui Medicine Co.Ltd(600276) , among the 100 billion market capitalization stocks (the last closing day) that have issued the annual report, there are 16 companies whose net profit fell year-on-year in 2021, and only four stocks including Yihai Kerry Arawana Holdings Co.Ltd(300999) rose against the trend.
There was also a sharp decline in Sany Heavy Industry Co.Ltd(600031) , Luxshare Precision Industry Co.Ltd(002475) , S.F.Holding Co.Ltd(002352) and so on. Among them, the net profit of S.F.Holding Co.Ltd(002352) 2021 fell by more than 40% year-on-year Wens Foodstuff Group Co.Ltd(300498) , China Vanke Co.Ltd(000002) led the decline in performance in 2021, but Wens Foodstuff Group Co.Ltd(300498) fell 1.01% in early trading and China Vanke Co.Ltd(000002) fell 3.69%.
A large part of the decline in early trading was dragged down by the decline in performance. For example, Lens Technology Co.Ltd(300433) 23 released the financial report, in which the net profit of the company in the first quarter of 2022 was 411 million yuan, and the revenue decreased by 22.15% year-on-year. As of the noon closing, Lens Technology Co.Ltd(300433) decreased by more than 10%.
Three Squirrels Inc(300783) the net profit in the first quarter fell by nearly 50%, and the share price fell by more than 15% in early trading Synthesis Electronic Technology Co.Ltd(300479) , Shanghai Bright Power Semiconductor Co.Ltd(688368) , Wutong Holding Group Co.Ltd(300292) and other net profits fell sharply, and the share price fell by more than 10%
future analysis
brokerage sector change institutions suggest paying attention to the “certainty of growth” of performance
top ten brokerage strategies: continuous bottom grinding! Market sentiment fell back to the low point since 2018, and the three main lines near it are expected to recover
