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million hand sold single closure Better Life Commercial Chain Share Co.Ltd(002251) eat the limit again Tencent and JD cut meat in advance
In early trading on April 25, Better Life Commercial Chain Share Co.Ltd(002251) opened with the limit on the one-stop board, falling for two consecutive trading days. As early as April 22, Better Life Commercial Chain Share Co.Ltd(002251) trading began to flash and fall to the limit. In the previous 9 trading days, Better Life Commercial Chain Share Co.Ltd(002251) gained 8 daily limits, doubling the cumulative increase. After hours on the same day, Better Life Commercial Chain Share Co.Ltd(002251) announced that it expected a net profit loss of 170 million yuan to 210 million yuan in 2021, from profit to loss. Because the accounting judgment of some business activities of the company deviates from the original estimate.
It is worth noting that Better Life Commercial Chain Share Co.Ltd(002251) was reduced by the two major shareholders just a few days before the huge loss. On April 21, Better Life Commercial Chain Share Co.Ltd(002251) announced that Jiangsu Jingdong bangneng Investment Management Co., Ltd. reduced 16.1 million shares of the company on April 20, with a reduction ratio of 1.8636%. On April 20, Better Life Commercial Chain Share Co.Ltd(002251) announced that Nyingchi Tencent, a shareholder holding more than 5%, reduced its shareholding of 8639100 shares of the company through block trading on April 19, with a reduction ratio of 1 Shenzhen Quanxinhao Co.Ltd(000007) %.
However, compared with the original transfer price, the reduction price of JD bonneng and Nyingchi Tencent has a loss of more than 90 million yuan and 60 million yuan respectively, and the loss proportion has reached about 34% and 42% respectively. Together with the shares that have not been reduced, the current floating losses of the two countries have reached about 240 million yuan and 300 million yuan respectively.
\ yuan mark the company will postpone the disclosure of the first quarterly report
Contemporary Amperex Technology Co.Limited(300750) ( Contemporary Amperex Technology Co.Limited(300750) ) fell sharply on the 25th, once falling more than 5% to 392.3 yuan, a new low in this round of adjustment. On the news side, Contemporary Amperex Technology Co.Limited(300750) 24 announced that it was originally scheduled to disclose the first quarter report of 2022 on April 28, 2022. Based on the principle of prudence, in order to ensure the quality of the preparation of the first quarter report of 2022 and the accuracy of information disclosure, the disclosure time of the first quarter report of 2022 is postponed to April 30, 2022.
Recently, market rumors said that Contemporary Amperex Technology Co.Limited(300750) 2022’s first quarter profit is expected to be less than 5 billion yuan. The agency expects that if it is true, the annual performance will be reduced to 25-28 billion yuan. However, on April 21, Contemporary Amperex Technology Co.Limited(300750) disclosed a more than expected annual report. In 2021, the company achieved a total operating revenue of 130356 billion yuan, a year-on-year increase of 159.06%; The net profit attributable to shareholders of listed companies was 15.931 billion yuan, a year-on-year increase of 185.34%. In the fourth quarter of 2021, the net profit was 8.18 billion yuan, an increase of 267.41% year-on-year and 150.38% month on month. During the reporting period, the company achieved sales of 133.41gwh of lithium-ion batteries, with a year-on-year increase of 184.82%. Among them, the sales volume of power battery system was 116.71 GWH, with a year-on-year increase of 162.56%.
Specifically, during the reporting period, the sales of power battery system was the main source of revenue of the company. The sales revenue of power battery system of the company was 91.491 billion yuan, a year-on-year increase of 132.06%. During the reporting period, the company deepened its long-term strategic cooperation with Tesla, Hyundai, Ford, Daimler, Great Wall Motor Company Limited(601633) , ideal, velai and other global customers. The supply framework agreement signed with Tesla in June 2021 agreed that the company would supply products to Tesla from 2022 to 2025. The company has strengthened product research and development and continuously improved product competitiveness. The second generation of lithium iron phosphate CTP products have been delivered in large quantities. High voltage ternary products have been widely used in passenger cars with a range of less than 700km. The energy density of lithium iron phosphate mass produced and supplied cells has reached 200wh / kg. The second generation non thermal diffusion battery system has been recognized by many foreign and domestic customers. In addition, during the reporting period, the company’s overseas order delivery scale increased rapidly and its overseas business gradually matured.
\ yuan mark many institutions still support
China Merchants Bank Co.Ltd(600036) ( China Merchants Bank Co.Ltd(600036) ) opened low and went low on the 25th, falling about 7% in the session and falling behind the 40 yuan mark. Its Hong Kong stocks also fell sharply, with a current decline of more than 8%.
In terms of news, the company released its report for the first quarter of 2022. During the reporting period, the company realized an operating revenue of 91.990 billion yuan, a year-on-year increase of 8.54%; The net profit attributable to the shareholders of the company was 36.022 billion yuan, a year-on-year increase of 12.52%; The net interest income was 54.464 billion yuan, a year-on-year increase of 9.97%; The net non interest income was 37.526 billion yuan, a year-on-year increase of 6.53%.
By the end of the reporting period, the company’s non-performing loan balance was 54.138 billion yuan, an increase of 3.276 billion yuan over the end of the previous year; The non-performing loan ratio was 0.94%, an increase of 0.03 percentage points over the end of the previous year; The provision coverage rate was 462.68%, down 21.19 percentage points from the end of the previous year; The loan provision rate was 4.35%, down 0.07 percentage points from the end of the previous year.
Huaxi Securities Co.Ltd(002926) pointed out that affected by the macro-economy and capital market, the pace of table expansion and performance growth of CMB slowed down in the first quarter, the retail loan investment and wealth business were subject to certain restrictions, and the risks in asset quality were also exposed. However, the company’s operation in the first quarter also showed that under the environment of industrial depression, the basic advantages of retail banks such as customer base and channels, as well as the continuation and promotion of big wealth management strategy, while strengthening the real reflection of business risks, which is conducive to the stabilization and decline of subsequent credit costs after clearing in time.
At present, the company’s valuation has been corrected due to the change of president. However, since 2010, China Merchants Bank has clearly established its advantages in deep-seated fields such as strategy first, organizational structure and corporate culture. Therefore, strategic guidance is more powerful for the development of the company than its peers; On the other hand, in the future, wealth management, as an engine driving medium and long-term performance development, will still ensure the improvement of the company’s customer acquisition, AUM and asset management capabilities, and maintain the company’s competitive advantage.
Anxin Securities believes that the highlights of China Merchants Bank Co.Ltd(600036) first quarter report mainly lie in the continuous improvement of net interest margin month on month and the improvement of retail customer group quality, while the shortcomings lie in the slowdown of wealth management business and the increase of asset quality fluctuation. Superimposed with the impact of the change of the president, the short-term fluctuation of the company’s share price may increase; However, in the medium and long term, the stock price is basically determined by fundamental factors. It is expected that the core competitiveness of China Merchants Bank will not change, and the medium and long-term investment value will be prominent.
performance under pressure “yaomao” Jiangsu Hengrui Medicine Co.Ltd(600276) once fell to the limit
On the morning of April 25, “yaomao” Jiangsu Hengrui Medicine Co.Ltd(600276) once fell to the limit, setting a new low for the year. In terms of news, on April 23, Jiangsu Hengrui Medicine Co.Ltd(600276) released its annual report for 2021. Both operating revenue and net profit attributable to shareholders of the parent company declined. Specifically, in 2021, the company achieved operating revenue of 25.906 billion yuan, a year-on-year decrease of 6.59%; The net profit attributable to the parent company was 4.53 billion yuan, a year-on-year decrease of 28.41%.
For the situation that the decline of profit in 2021 is greater than the decline of operating revenue, Jiangsu Hengrui Medicine Co.Ltd(600276) said that the centralized volume procurement and the national medical insurance negotiation products have significantly reduced prices, and the company has increased R & D investment, resulting in the decline of gross profit margin.
The annual report shows that since 2018, Jiangsu Hengrui Medicine Co.Ltd(600276) has entered the national centralized purchase of generic drugs, a total of 28 varieties, of which 18 are selected, and the average price reduction of the selected varieties is 73%. Among them, the third batch of centralized purchase started in November 2020 involves 6 drugs, and the fifth batch of centralized purchase started in September 2021 involves 8 drugs.
On April 23, the company also disclosed the results of the first quarter of 2022. Although the performance is still under pressure, in the first quarter of 2022, the growth rate of the company’s net profit attributable to the shareholders of the parent company decreased by 17.25% year-on-year, but the decline was narrower than that of the whole year of 2021, narrowed by 11.06 percentage points. The company said that in the future, it will increase R & D investment, adhere to the internationalization strategy, and promote the overseas listing and sales of the company’s key generic drugs and innovative drug products.
Citic Securities Company Limited(600030) the latest research report commented that the company’s core products maintained high-speed and high-volume, new products successively entered the market, innovative R & D achievements were gradually implemented, and the international layout was steadily promoted. Combined with the annual report of 2021 and the performance of the first quarterly report of 2022, considering the negative impact of the fifth batch of centralized purchase in the short term, adjust the EPS forecast from 2022 to 2023 to 0.66/0.76 yuan (the original forecast was 1.20/1.45 yuan), and add the EPS forecast for 2024 to 0.85 yuan. With reference to the valuation of comparable companies and considering the gradual release of the company’s market leading position and the impact of centralized procurement and national negotiation, the company is given 65% in 2022 × PE, corresponding to the target price of 43 yuan, maintains the “buy” rating.
Indonesia bans the export of edible oil and raw materials detonates the concept stock of edible oil Yihai Kerry Arawana Holdings Co.Ltd(300999) soared over 6%
Affected by Indonesia’s announcement of banning the export of edible oil and edible oil raw materials, edible oil concept stocks rose sharply on the 25th. As of press time, Xiwang Foodstuffs Co.Ltd(000639) , Daodaoquan Grain And Oil Co.Ltd(002852) and Yihai Kerry Arawana Holdings Co.Ltd(300999) rose by more than 6%.
On the news, Indonesian President Joko announced at the presidential palace in Jakarta on the 22nd that the government decided to ban the export of edible oil and edible oil raw materials from the 28th of this month to ensure the supply of edible oil in the country.
It is reported that Indonesia is the world’s largest producer of palm oil, accounting for more than half of the global supply. Palm oil is usually used to produce edible oil, processed food, cosmetics and biofuels. According to the report, the ban was decided at a meeting on meeting the basic needs of the people. At present, there has been a temporary shortage of edible oil supply in Indonesia and China.
The global palm oil producing areas are mainly Indonesia and Malaysia, of which Indonesia accounts for about 60% of the global palm oil production. Indonesia and Malaysia are the world’s two largest palm oil exporters, accounting for 90% of their total exports. Relevant statistics show that the futures price of palm oil in Malaysia has increased by 11% since April and nearly 35% during the year. China’s palm oil consumption is completely dependent on imports. It is the second largest importer of palm oil in the world. Palm oil has become the second largest vegetable oil consumption in China after soybean oil.
Some analysts pointed out that at present, palm oil is the largest vegetable oil variety in the world in terms of production, consumption and international trade. It is called “the three largest vegetable oils in the world” together with soybean oil and rapeseed oil. Indonesia’s restrictions on palm oil exports will undoubtedly boost the demand outlook for other vegetable oils.
National Energy Administration: coal power will still play an important role in ensuring power security for a long time (with shares)
According to Xinhua news agency, China’s resource endowment dominated by coal determines that coal power will still play an important role in ensuring China’s energy and power security for a long time. This is what Yu Bing, deputy director of the national energy administration, said at the national coal and electricity “three reform linkage” typical case and Technology Promotion Conference on the 24th. In 2021, China’s coal power consumption is about 305g. Although it is better than the United States and Germany, second only to Japan, and the proportion of supercritical and ultra supercritical units has exceeded 50%, there are nearly 400 million kw of Subcritical Units. The coal consumption of these units is obviously high, so the transformation of energy conservation and carbon reduction needs to be implemented as soon as possible.
In terms of A-share investment, Kaiyuan Securities believes that the performance of many coal enterprises in the first quarter exceeded expectations recently, and the annualized valuation level of most enterprises is only 4 or 5 times, with a high safety margin; In addition, affected by the epidemic situation, the current demand is very poor, and the epidemic situation will eventually be controlled. The government is expected to continue to introduce corresponding policies for steady growth, and the demand is expected to remain good; At present, it will be the best stage to buy expected and allocate coal stocks.
Cinda Securities pointed out that at present, it is in the early stage of a new round of upward cycle of coal economy, and the fundamentals, policies and companies resonate. At this stage, the allocation of coal sector is at the right time. Continue to look at the coal sector in an all-round way, and continue to suggest paying attention to the historic allocation opportunities of coal. It is suggested to pay attention to three main investment lines: first, Yankuang energy, the leader of low value and high dividend power coal, Shaanxi Coal Industry Company Limited(601225) , China Shenhua Energy Company Limited(601088) ; Second, Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Guizhou Panjiang Refined Coal Co.Ltd(600395) , which are both resource scarcity and significant growth; Third, Shanxi Coking Coal Energy Group Co.Ltd(000983) and Jinneng Holding Shanxi Coal Industry Co.Ltd(601001) , which have great potential for extensive expansion brought by the increase of asset securitization rate of state-owned coal group.
China’s first! Xiaoma Zhixing won the business license of self driving taxi (with shares)
It is reported that on April 24, Xiaoma Zhixing announced that it had won the bid for the 2022 taxi capacity index in Nansha District, Guangzhou, which is the first taxi operation license issued to automatic driving enterprises in China.
The bid winning notice clearly allows automatic driving vehicles that meet the safety technical requirements of Guangzhou intelligent Internet connected vehicle demonstration operation to provide taxi operation services. At the same time, Ma Zhixing is also the first company approved to implement commercial robotaxi services in Beijing and Guangzhou.
It is reported that Xiaoma Zhihang has been approved to invest 100 self driving vehicles in Nansha, Guangzhou to provide taxi service. It is expected that from May, Xiaoma Zhi will start charging operation within 800 square kilometers of Nansha, and with the gradual expansion of business, the service will be extended to other areas of Guangzhou, benefiting more Guangzhou citizens. Passengers can use the service and complete payment through ponyplot + app. The service period is from 8:30 to 22:30, and the charging standard is in accordance with the unified pricing standard of taxis in Guangzhou.
Citic Securities Company Limited(600030) believes that automatic driving is expected to be a trillion level broad market, which is expected to solve many pain points such as the improvement of labor cost, traffic safety and the shortage of drivers, among which the market space of urban opening scene is the largest. With the gradual improvement of laws and regulations, the continuous progress of self driving enterprises’ own technology, the gradual maturity of the upstream of the industrial chain and the close cooperation between downstream OEMs and scene parties, the landing speed of self driving may be accelerated.
Minsheng Securities pointed out that when the turning point of L3 level automatic driving comes, the industrial structure will be further reconstructed, and the industrial chain related to automatic driving will become the investment hotspot in the next stage. It is suggested to pay attention to Huizhou Desay Sv Automotive Co.Ltd(002920) (joint coverage of computer and communication industry); The penetration rate of chassis by wire in the automatic driving domain is expected to accelerate in the next round of vehicle inventory cycle. It is recommended to focus on Shanghai Baolong Automotive Corporation(603197) and Ningbo Tuopu Group Co.Ltd(601689) (suspension by wire) and Zhejiang Asia-Pacific Mechanical & Electronic Co.Ltd(002284) (braking by wire).
