Headlines in the city
1. Cattle Bull:The Fed releases unlimited water, the epidemic remains a mystery! Domestic GDP has been reduced, can the A-share rebound continue? (Poke me to try?)
2, Chinese Centers for Disease Control and Prevention:Asymptomatic infection does not cause spread of infection
3. Zhejiang introduced a new consumer policy:Encourage the implementation of a flexible work system of 4.5 days a week
4, 7 days 50 billion! Huge sums of money used ETFs to scoop up A shares
5. The three ministries and commissions, including the Ministry of Commerce, jointly issued a document requesting optimization of vehicle purchase restrictions
6, WHO:The United States may become the epicenter of the epidemic
7. The Dow closed sharply higher than 2100 points, the largest single-day increase since 1933 strong>
8, Harvard University president couple diagnosed with new coronary pneumonia
9, India will block the country for 21 days, and people will queue up overnight to purchase supplies
10. Suspected violation of the epidemic prevention and control regulations, Beijing will not allow 4 foreigners to enter the country.
11. Italy Severely affected area:Some villages and towns have died of a whole generation of seniors
– Macroeconomics –
1. States often:actively promote the orderly resumption of production complex manufacturing and distribution complex industry] 24th regular session of the State pointed out that actively promote the orderly resumption of manufacturing and distribution industries to resume production resume business. Guarantee the production and export of enterprises and key products that have important influence in the global industrial chain; guide financial institutions to increase the proportion of credit loans, renewal loans, first loans and medium and long-term loans to small, medium and micro enterprises. Research on alternatives such as postponing the Canton Fair this spring and holding it on the Internet. (Sina)
Interpretation With the domestic epidemic basically under control, the entry of overseas epidemics can be strictly controlled to further accelerate the normalization of the domestic economic order.
2. [China Centers for Disease Control and Prevention:Asymptomatic infection does not cause spread of transmission] Researcher Wu Zunyou of China Centers for Disease Control and Prevention said that those with asymptomatic infection will not As a result of the spread of the disease, all of them came from close contacts, and they were independently isolated for observation. Once symptoms appeared, they were transferred to hospital for treatment. (One fortune)
Interpretation After the Wuhan newly added zeros, asymptomatic infections appeared again, causing some panic. Expert explanations can stabilize market sentiment. At present, the work phase of resumption and production is actively carried out. Emotion and confidence are very important.
3. [3 lines of defense can withstand the risk of overseas input] Wu Zunyou, a researcher at the China Centers for Disease Control and Prevention, said that customs and immigration personnel have been established for 14 days to observe and isolate The three lines of defense of medical institutions can well resist imported cases from abroad, and imported cases have been basically blocked in customs and isolated observation. From the previous period to the present, the imported cases have been basically blocked on the first and second lines of defense, and no patients have been found on the third line of defense. The three lines of defense should be able to prevent the epidemic of imported cases. (People’s Daily)
Interpretation The current important task is to prevent and control imported cases overseas. A strict prevention and control system can allow enterprises and residents to rest assured to resume normal production and life. As long as overseas imports are strictly controlled, the domestic economy can basically return to normal.
4. [Ren Zeping:reducing holdings of US dollar assets, buying agricultural products, overseas high-tech company shares, etc.] Ren Zeping, chief economist of Evergrande Group, suggested that We should reduce our holdings of US dollar assets and buy oil, natural gas, iron ore, land lease rights, agricultural products, stocks of overseas high-tech companies, and gold on a large scale globally. Now we are facing a historic opportunity, because both oil and stocks are being sold at a discount, and some are even discounted. The scale of China’s external debt is very low. There is no need to reserve up to US $ 3 trillion in external reserves, and there is no need to finance excessive consumption and debt in the United States. (Securities Times)
Interpretation After the plunge, there is limited upside for U.S. Treasuries, and it is indeed possible to reduce U.S. Treasuries into equity assets. At present, some listed companies in the US stock market are not expensive. In contrast, domestic insurance companies have already started buying and buying in Hong Kong.
5. [Zhejiang introduced a new consumer policy:encouraging the implementation of a flexible working system of 4.5 days a week] Recently, the Zhejiang government has asked all localities and relevant departments to boost consumption. Include important agendas, speed up the study and formulation of consumer promotion policies such as the issue of consumer vouchers and travel coupons, and promote the recovery of the consumer market after the epidemic. Encourage the implementation of a flexible work system of 4.5 days a week, and support qualified institutions, social organizations, enterprises and institutions to implement the paid vacation system. (Published by Zhejiang)
Interpretation The catering and other service industries have been greatly affected by the epidemic, requiring local governments to introduce extra-conventional stimulus measures. The 4.5-day flexible working system and the implementation of annual leave policies can Effectively promote consumption.
6. [Offshore RMB rose over 500 basis points against the US dollar within the day and recovered the 7.07 mark] As of 18:00 Beijing time on the 24th, the RMB has rebounded sharply during the day, The onshore RMB against the US dollar rose nearly 600 basis points, breaking the 7.06 mark; the offshore RMB against the US dollar rose to 500 basis points, breaking the 7.07 mark. The US dollar index fell 1.2% on the day, approaching the 101 mark. (Wind)
Interpretation The United States launched a super-strong stimulus policy. After the currency was released, the US dollar liquidity crisis was resolved, the US dollar index fell, and the yuan began to appreciate. The epidemic has limited impact on the RMB foreign exchange market. Compared with markets in Europe and Australia, the RMB is relatively strong.
7. [Shen Wanhongyuan:The policy side can moderately grasp the pace of response to accumulate strength for subsequent development] Shen Wanhongyuan, chief economist Yang Changcheng, said the current overseas environment Changes are difficult to estimate, and domestic policy responses are”focused on stability.” Policies can appropriately grasp the pace of response and accumulate strength for subsequent and medium- and long-term development. Yang Changyang said that the current turbulence in the global financial market has a relatively small impact on China’s financial market. However, in the state of high global financial market linkage, it is still necessary to prepare a response plan. (China Securities Network)
Interpretation At present, there is still a lot of uncertainty in the overseas situation. The pace of China’s stimulus policy is very reasonable, especially the monetary policy is sound and not aggressive. Next, during the process of returning to work and production, observe more market demand and take fixed-point assistance. When panic reappears in overseas markets and affects our market confidence, we will launch targeted policies.
8. [Trump:Hope to lift epidemic restriction order in early April] At noon on the 24th local time, US President Trump was interviewed by Fox News TV Shi said that he is considering relaxing the control measures on the epidemic, hoping that the United States can be”open” by mid-April. Trump said:”We will conduct an assessment in early April. If more time is needed, we will give the epidemic more time to control, but our country needs to continue to operate. Everyone has to go back to work to get work and life back to normal. , (Removal of epidemic restrictions) must be earlier than everyone expected.”(CCTV News)
Interpretation The Speaker of the United States House of Representatives Pelosi in an interview with US Cable TV He said Trump should heed the advice of scientists and should pay attention to”respect for science and pay attention to evidence” when speaking.
9. [Italy severely affected area:some villages and towns have died of a whole generation of elderly people] Bergamo is now the worst place for pneumonia in Italy with new coronavirus . A resident said,”In some villages, 70- or 80-year-olds have died; death knells start from early to late; no coffins are available, and corpses can’t be cremated.” He called for the new crown virus not to be flu, and we must strengthen protection! (CCTV)
Interpretation The mayor of Bergamo, George Gorry, said on the 22nd that about three-quarters (75%) of the deaths of patients with new coronary pneumonia in the city had not been born before his death. When he was diagnosed, he died at home; 69,176 cases were diagnosed in Italy, with a mortality rate of 10%, and he was isolated in the European Union. The Italians spontaneously changed the EU flag to the Chinese and Russian flags.
10. [More than 400,000 confirmed cases of new coronary pneumonia worldwide] The latest data released by Johns Hopkins University on the 24th shows that as of the eastern United States At 13:30 on the 24th (1:30 on the 25th Beijing time), more than 400,000 confirmed cases of new coronary pneumonia worldwide, reaching 407,485. There are 18,227 deaths worldwide. (Xinhua News Agency)
Interpretation Except for China, countries with more than 10,000 confirmed cases are Italy, the United States, Spain, Germany, Iran, and France. In Italy, 5249 new cases of new coronary pneumonia were added (4789 new cases the day before), reaching 69,176 cases; 743 new death cases (601 new cases were added the day before), reaching 6820 cases.
11. [Trump seeks medical device support from South Korea] According to the Yonhap News Agency on the 24th, U.S. President Trump and South Korean President Moon Jae-in on Tuesday He said in the call that he hopes South Korea can provide medical equipment support to the United States. Wen Zaiyin replied that his government would provide maximum support if conditions permit. The leaders of the two countries also discussed how the two countries can cooperate in the fight against the new crown pneumonia epidemic. (Global Times)
Interpretation The Governor of New York is angry and only gave me 400 ventilator, I want 30,000! The number of newly diagnosed patients with new crown pneumonia in the United States has reached 50,206. The number of confirmed cases of new crown pneumonia in New York State has increased from 20,875 to 25,665, and 2,599 new cases of new crown pneumonia have been confirmed in New York City, with a total of 14,904 confirmed cases. Trump has been calling the new crown pneumonia”Chinese virus” and he is unlikely to ask for help from China.
12. [India blocks the country for 21 days, and people line up to buy supplies overnight] At 20:00 local time on the 24th, Indian Prime Minister Modi announced a national television speech, In order to curb the spread of the new crown pneumonia epidemic, a complete blockade was implemented nationwide from 00:00 on the 25th for a period of 21 days. (CCTV News)
Interpretation The United Kingdom previously promoted herd immunization, and it is now blocked; as of 18:00 on the same day, India has added 86 new cases of new coronary pneumonia and a total of 519 confirmed cases. Forty cases were cured and nine died. After the speech, people from all over India rushed to nearby supermarkets or grocery stores to purchase supplies, and a long line was lined up at the shop door.
13. [Harvard University President Couple Confirms New Coronary Pneumonia] According to a letter sent to the Harvard community, Harvard University President Larry Bacow and his wife Adele Sunday Symptoms first appeared, and subsequent Covid-19 tests were positive.”Much fewer people have come to us recently than usual.” They said they have been working from home since March 14 and have completely restricted contact with others.”We will be at home for two weeks, resting and recovering.” (Sina Finance)
Interpretation Harvard University is located in Cambridge, Boston, Massachusetts, USA. It is a world-renowned private research university and a well-known Ivy League school. Member; Harvard University News quoted data from Harvard University Health Service Center on the 24th, saying that as of the afternoon of the 24th, 18 faculty members of Harvard had positive test results for the new crown virus.
14. [Suspected of violating the epidemic prevention and control regulations, Beijing will not allow four foreigners to enter the country] Ji Lixia, deputy head of the Beijing Border Inspection Station, Recently, four foreigners suspected of violating Beijing ’s epidemic prevention and control policies have been denied entry. According to the March 3 epidemic prevention and control regulations in Beijing, all persons who are to be destinations in Beijing are required to live at home or be in centralized isolation for 14 days. From March 16, the regulation was adjusted to all inbound personnel entering Beijing for centralized observation. In the event that a foreigner who comes to China intends to re-enter the country within the prescribed period of quarantine after leaving the country, the Beijing Border Inspection shall, in accordance with the provisions of Article 25 of the “People ’s Republic of China Exit and Entry Management Law”, make inadmissible entry and repatriation out deal with. (People’s Daily)
Interpretation The epidemic situation in foreign countries is developing rapidly, and there is a lot of pressure to prevent the epidemic from being imported.
– Real estate situation –
1. [Hunan Yiyang:buy a first-hand house below 144 square meters in the urban area, subsidize 50% deed tax] The Office of the People’s Government of Yiyang City, Hunan Province released the measures for the stable and healthy development of the real estate market, mentioning that individuals who purchase new commercial housing (excluding parking spaces, garages, and utility rooms) of urban areas under 144 square meters ), 50% of the real estate deed tax is paid to the buyer. (Surge)
Interpretation This Yiyang policy clarifies the concept of housing consumption and objectively reflects the direction of encouragement of such consumption demand. In terms of stimulating consumption to stimulate the economy, the stimulus effect of housing and automobile consumption is more prominent.
2. [Haining has released the housing purchase restriction for 1 month, the news has been deleted, Haining government said that this policy is temporarily unavailable] According to Haining Daily News, March 25 Until April 24th, the policy of “Restriction on the purchase of a house by non-Haining households in Haining” will not be implemented during the Shanghai Housing Expo. This means that non-Haining households can buy more than one apartment in Haining. In this regard, the staff of the Housing and Urban Construction Bureau of Haining City stated that they have not received a formal notice regarding the”‘Presidents of non-Haining household registration limit purchase of a house in Haining’ policy is temporarily not implemented”. (Wind)
Interpretation Haining is close to Hangzhou. It can be reached in about ten minutes from Haining by high-speed rail to Hangzhou, and the fare is about 12 yuan. If the non-hukou restriction policy can be liberalized, it will stimulate investment and speculative demand. However, this touched the bottom line of”floating and not frying.” Starting from February 21, four cities including Zhumadian City, Henan Province, Guangzhou City, Guangdong Province, Baoji City, Shaanxi Province, and Jinan City, Shandong Province have successively deleted or revoked their policies after the release of real estate control policies.
– Domestic market –
1. [7 days 50 billion! Huge amount of money to borrow ATF through ETF] According to the calculation model of the ETF fund of the Galaxy Securities Fund Research Center, as of the close of March 23, the overall inflow of A-share ETF funds on Monday was 10.03 billion yuan. This is the third time since March that the net inflow of funds in a single trading day exceeded 10 billion yuan. From the perspective of net inflows in the past seven trading days, the cumulative net purchase fund of the ETF is as high as 50 billion yuan. (China Fund News)
Interpretation Institutional confidence in A-shares is still very strong. After the impact of the epidemic crisis, the Chinese economy will rise to a high level. The recent adjustment is a mid-term layout. good time. Choosing an ETF can reduce the risk of lightning strikes on individual stocks and is relatively safer. Structural market, GEM ETFs, technology ETFs or brokerage ETFs should have better opportunities.
2. [January-February stamp tax on securities transactions was 34.9 billion yuan, a year-on-year increase of 77.2%] Data from the Ministry of Finance shows that the national general public budget revenue from January to February 3,523.2 billion yuan, a year-on-year decrease of 9.9%. Among them, the central general public budget revenue was 1,724.2 billion yuan, a year-on-year decrease of 11.2%; the local general public budget revenue at the same level was 1,799 billion yuan, a year-on-year decrease of 8.6%. National tax revenue was 3.17175 trillion yuan, a year-on-year decrease of 11.2%; non-tax revenue was 405.7 billion yuan, a year-on-year increase of 1.7%. (Sina)
Interpretation The epidemic did not affect securities trading. The market was hot in the first two months of this year, ensuring a high level of trading volume. Securities companies benefit from the active market, and their performance is guaranteed to improve steadily.
3. [Private placement buys at a loss and scans the new infrastructure of A shares] Explosive”Nikko” is still alive, but the star fund has not changed during the sharp adjustment of the stock market. Be able to stand alone. Data show that 9742 products updated their net worth during the period from March 9th to 13th, with an average return of -3.70%. Only 1638 products achieved positive returns, and 83.19% of the funds lost money during the week. (China Business News)
Interpretation The market has experienced a deep decline and it is normal for a large number of funds to experience losses. The proportion of institutional investment in the A-share market has gradually increased, and institutions will begin to play games. Individual investors should also improve their ability to choose funds.
4. [CITIC Construction Investment Ding Luming:Resolutely increase positions in A shares during 24-25 days] CITIC Construction Investment Ding Luming believes that positions will be resolutely increased during 24-25 days A shares and global stock markets, the next three months of upside may be very considerable. It is clearly recommended that the technology growth sector such as the GEM is preferred. The real estate industry has a valuation advantage and can be moderately allocated. The securities firm’s short-term elasticity can also be moderately increased. (CITIC Construction Investment)
Interpretation The spread of the epidemic in Europe and the United States has not been controlled, and the impact on the economy has not ended. It is too aggressive to increase positions and the risks are greater. However, the structural market of A shares still exists. The rebound of the technology mainline and securities companies after the oversold may also be very large. The light warehouse is moderately involved and the risks are relatively controllable.
5. [Northbound Funds] On the 24th, the net inflow of 3.987 billion yuan reached a new high of nearly half a month. WuXi AppTec has recently been favored by foreign investors, and it was again net on Tuesday. Bought 316 million yuan; Aier Ophthalmology recently made its first list on the list with a net purchase of 295 million yuan, China Merchants Bank received a net purchase of 275 million yuan; Ningde Times was net sold 125 million yuan. (Wind)
Interpretation The US’s large-scale stimulus package has slightly stabilized market sentiment, supported overseas market liquidity, and continued the trend of northbound capital outflows under control.
6. [Funds] On the 24th, the central bank continued to suspend reverse repurchase operations. This has been a 26-day suspension of reverse repurchase. period. The one-day interbank pledged repo rate was 0.8358%, down 2.42 basis points; the 7-day period was 1.5763%, down 43.84 basis points. (Wind)
Interpretation Recently, the weighted interest rate of inter-bank pledged repo recently hit a new low since June 2009. The inter-bank market has ample liquidity, and the central bank suspended operations. The current priority work is to encourage banks to lend money and solve the financial difficulties of small, medium and micro enterprises.
7. [New Shares Center] The new shares will be listed on March 25:Surveying and Mapping Shares (300826), with a price-earnings ratio of 22.28; Heshun Petroleum (603353), with a price-earnings ratio of 22.99 Times. (Oriental Fortune Network)
Interpretation Surveying and mapping stocks, whose main business is to provide geographic information data collection for industrial applications of construction engineering, urban refinement and intelligent management, and spatial location information , Processing, integration services, etc. Heshun Petroleum, the main business of wholesale and retail of refined oil.
– Foreign markets –
1. [The initial value of the March PMI for the manufacturing industry in the Eurozone was 44.8, which is much higher than expected] > strong> In March, the initial value of the manufacturing PMI in the euro zone was 44.8, which was expected to be 39, and the previous value was 49.2; the initial value of the service industry PMI was 28.4 in March, which was expected to be 39, and the previous value was 52.6; the initial comprehensive PMI in March was 31.4. , Expected to be 38.8 and the previous value was 51.6. (Wind)
Interpretation The initial value of European manufacturing PMI in March was better than expected, mainly due to the relatively lagging impact of the epidemic on the manufacturing industry and the impact on the service industry in the previous period. With the implementation of policies such as the subsequent closure of cities, the data impact in April will begin to appear.
2. [Emergency, there is a problem with the gold quotes of major banks in the world] Market news said that the gold quotes of major banks in the world have started from 12 noon Beijing time When problems arise, the extreme lack of liquidity in gold leads to extremely high spreads throughout the market and frequent interruptions in trading. (Sina)
Interpretation According to some economists, it is mainly the United States that suspends European flights, and gold entering the United States is all transported by passenger aircraft, which triggers gold spot short positions. In order to control liquidity risks, market makers choose to increase trading spreads. Some banks or brokers even have spreads over 3,000 points.
3. [WHO:The United States could become the epicenter of the outbreak] A WHO spokesman said that the number of cases of new crown pneumonia in the United States”is very fast The”speed increase” may become the”epicenter” of the outbreak. (Sina)
Interpretation It ’s not surprising that the US ’s control measures lag behind and its population is relatively large. This will also continue to impact the economy and increase market panic. The impact of the current monetary and fiscal policies introduced by the United States will be exhausted, and it will be more difficult for policies to regulate the market.
4. [German Minister of Economy:The extent of the recession may be more severe than during the financial crisis] It is necessary to ensure that the economy recovers after the epidemic. (Wind)
Interpretation The impact of the epidemic on the economy should be more severe than the subprime mortgage crisis. This has basically formed a broad consensus. However, the current financial market ’s response is compared to the subprime crisis. The decline is not enough. There is still the possibility that the market will continue to fall.
5. [Tokyo Olympic Games will be postponed for one year] Japanese Prime Minister Shinzo Abe and IOC President Bach confirmed that the Tokyo Olympic Games will be postponed for one year until the summer of 2021. Hold the Olympics. (Sina)
Interpretation Although the Olympic Games’ extension has caused some impact on Japan’s economy, the impact of the postponement should be minimal. Extending it for another year, after the epidemic is over, the Olympic Games can be used to boost consumption and the market rebound will be stronger.
6. [G7 Finance Ministers Joint Statement:Confidence and Economic Growth will be restored at all costs] G7 Finance Ministers Joint Statement states that action is being taken to strengthen domestic and international Policy synergy to respond to the new crown virus. Confidence and economic growth will be restored at all costs, protecting employment, resilience of the financial system and businesses. Commitment to protect global trade and investment, acknowledge the urgent need to support diagnosis, treatment and vaccine development, and call on crude oil producing countries to protect market stability. (Financial community)
Interpretation At present, the currency liquidity crisis has basically been lifted. The next step is for countries to work hard to control the epidemic and stimulate the economy. Under the current circumstances, it is not ruled out that the US government has lifted its talks with China to stimulate the economy.
7. [Dow closed up more than 2100 points, the largest single-day gain since 1933] US stocks rose strongly, and as of the close, the Dow rose 11.37% , The single-day rose over 2100 points, the largest single-day increase since 1933, the fifth largest single-day increase in history; the Nasdaq closed up 8.12%, the S & P 500 index rose 9.38%. Large-scale technology stocks were collectively higher. Tesla rose over 16%, Apple rose over 10%, Microsoft rose over 9%, Facebool rose over 8%, and Google rose over 7%. Popular Chinese stocks were collectively higher. Weilai rose nearly 10%, NetEase rose over 8%, Alibaba, Baidu, and Pinduoduo rose more than 5%. (Financial Associated Press)
Interpretation The social alienation measures adopted throughout the United States have shown signs of success, which may make the US economy and stock market rebound faster than many people ’s Expectations; of course, the market is also waiting for the trillion-dollar economic stimulus package to pass; Trump and the U.S. investment bank are both quite optimistic, and both think the economy will restart in a few weeks.
8. [COMEX April gold futures rose nearly 6%] COMEX April gold futures closed up $ 93.20, up 5.95%, to $ 1660.80 per ounce. (Oriental Fortune.com)
Interpretation There are market rumors that due to the Air France embargo, gold cannot be delivered to the United States and cannot be delivered, resulting in short positions being forced out; but remember the global gold All exist in the United States, and the embargo is also a passenger plane.
9. [U.S. service industry data fell at record speed, GDP may fall by 5%] The U.S. service industry PMI index fell from 49.4 to 39.1, a record New low. The survey revealed that the United States is likely to have fallen into a recession, and the recession will inevitably deepen further. The March PMI roughly showed that the annual rate of GDP decline was close to 5%, but the number of factories being closed due to the fight against viruses is increasing, which means that the decline in the second quarter may be much larger. (Sina Finance)
Interpretation Weak economic data is a global phenomenon. The U.S. composite index plunged to 40.5, a record low; the chief business economist at IHS Markit said, The speed of layoffs in US companies has never been seen since the global financial crisis in 2009, because companies either closed down or cut capacity to cut costs on a large scale.
10. [European stocks closed higher across the board, the major stock indexes rose by more than 8%] European stocks closed up, and the German DAX index rose 11.49% to 9745.25 points ; British FTSE 100 Index closed up 9.35% to 5460.75 points; French CAC40 Index rose 8.39% to 4427.70 points; Italian FTSE Index rose 8.69% to 16912.50 points; European Stoxx 50 Index rose 9.98% to 273.55 point. (Financial Associated Press)
Interpretation The European and American markets have begun a violent rebound. So far, the FTSE A50 has rebounded by 2.35%, which is less than others.
– Sankei Observation –
1. [The three major operators and China Tower will invest nearly 200 billion yuan in 5G in 2020] In 2020, the four companies will significantly increase their capital expenditure budgets for 5G construction, and will invest a total of 197.3 billion yuan. Among them, China Mobile’s 5G expenditure budget is 100 billion yuan, China Telecom’s 5G expenditure budget is 45.3 billion yuan, China Unicom’s 5G expenditure budget is 35 billion yuan, and China Tower 5G expenditure budget is 17 billion yuan. (China Securities Network)
Interpretation This year’s 5G network speeds up, and operators’ investment exceeds expectations, which will stimulate industry chain companies in the short term. In the medium term, the scale of 5G base stations nationwide is basically fixed. Networking completed in advance will affect equipment demand in the next few years. Therefore, 5G equipment-related stocks are mainly short-term participation. A-share-related listed companies include:China Unicom, SVA Network, Baoxin Software, and State Grid Communications.
2. [The three ministries and commissions, including the Ministry of Commerce, issued a joint request to optimize car purchase restrictions.] The general ministries and agencies of the three ministries and commissions issued a notice stating that local commercial authorities must Actively promote measures such as subsidies for new car purchases, subsidies for”replacement of new cars”, elimination of pickup truck restrictions, and promotion of convenient transactions for second-hand cars, organize car promotion activities, and commercial authorities in areas that implement car purchase restrictions should actively promote optimization of car purchase restrictions. Stabilize and expand automobile consumption. (Ministry of Commerce)
Interpretation Prior to market news, Beijing was studying the introduction of policies to stimulate automobile consumption, including increasing the launch of new energy indicators. Zhejiang encourages Hangzhou to orderly relax car purchase restrictions. Listed A-share connected car companies include:Baolong Technology, Joyson Electronics, Desay Xiwei, Huayu Automobile, Koboda, and Xingyu. The core targets of intelligent driving software are:Zhongke Chuangda and Siwei Tuxin.
3. [National Standing Committee:Encourage the joint reorganization of air cargo companies and logistics companies to support the development of air and overseas networks by express delivery companies] The meeting pointed out that international freight during the epidemic period The route gives policy support. Encourage the increase of cargo aircraft and the development of full cargo aircraft transportation. Support all types of air cargo development equally, encourage air cargo companies and logistics companies to jointly reorganize, and support express companies to develop air and overseas networks. (Every network)
Interpretation The epidemic has brought opportunities for China’s aviation and logistics industry to seize international market share. At this time, increasing industrial restructuring and integration will help improve related companies. Competitiveness. Earlier news, the total market value of SF Express surpassed FedEx, becoming the world’s most valuable express company.
4. [BOC Securities:New infrastructure investment increases, UHV reaches peak again] BOC Securities expects that investment and construction in new directions related to infrastructure will accelerate As an important part of the new infrastructure, UHV transmission is expected to have more than 10 lines beginning to enter the construction cycle. The relevant major equipment market space is about 60 billion yuan, and core suppliers are expected to benefit significantly. Maintain the industry’s stronger-than-market rating. (Financial sector)
Interpretation The concept of UHV is the highlight of the new infrastructure. The previous technology mainline was not involved, so the overall valuation of the industry is low. With the adjustment of the epidemic situation, high-quality companies in the industry have the opportunity to reduce their absorption. A-share related listed companies include:Pinggao Electric, Xu Ji Electric, China West Power, TBEA, etc.
5. [Huatai Securities Xie Chunsheng:Huawei IT industry chain may enter the stage of rapid landing in 2020-2021] March 24, Huatai Securities computer industry Chief analyst Xie Chunsheng said that the new IT ecosystem is gradually taking shape. In the next few years, China will gradually establish its own IT infrastructure and standards to form its own open ecosystem. Huawei’s IT industry chain is rapidly advancing, and has gradually landed in 2019. It may enter the stage of rapid landing in 2020-2021. (Securities Times)
Interpretation IT domestic self-control has been doing nothing, many people do n’t understand. In the future, domestically produced computers may be produced entirely from the system to the software. None of the parts are imported. This will have a significant impact on the domestic computer market. Related companies include:Chengmai Technology, China Software, China Great Wall, Jinshan Office, etc.
– Corporate News –
1. [Shuanghui Development:Net profit in 2019 will increase by 10.7% year-on-year, it is planned to send 10 yuan for 10 yuan] Shuanghui Development disclosed its annual report. In 2019, the company realized revenue of 60.3 billion yuan, a year-on-year increase of 23.43%; it realized a net profit of 5.4 billion yuan, a year-on-year increase of 10.7%. The company plans to distribute a cash dividend of 10 yuan (including tax) for every 10 shares. (Popular Securities News)
Interpretation After the outbreak of African swine fever, the policy has become stricter and the irregular small and medium-sized slaughterhouses have withdrawn, and the industry concentration is expected to further increase. The development of Shuanghui can gradually increase market share and enjoy the industry integration bonus. The new top ten shareholders of the 401 portfolio of the social security fund prefer this kind of stable dividends.
2. [Petrochemical Oil Services Annual Report:Net profit of 914 million yuan in 2019, a year-on-year increase of 543.6%] Revenue was 69.870 billion yuan, a year-on-year increase of 19.6%. The board of directors recommends that no cash dividends will be distributed in 2019, nor will the capital reserve be converted into share capital. (Wind)
Interpretation Because of the overseas crude oil price war, it may affect the domestic oil industry’s exploitation, and then affect the oil service industry. Although the company’s performance soared last year, this year’s operating pressure will be relatively large. The company does not carry out cash dividends and is also preparing to reserve for the winter.
3. [Jinshan Office:Net profit in 2019 will increase by 28.94% year-on-year, 3 yuan for 10 yuan] Jinshan Office realized business revenue of 1.580 billion last year, compared with the previous year Increase by 39.82%; Realize net profit attributable to owners of the parent company of 401 million, an increase of 28.94% over the previous year; of which, the office software licensing business is 496 million, an increase of 39.41% over the previous year; the office service subscription business is 680 million, an increase over the previous year 73.06%. It is proposed that a cash dividend of RMB 3 (including tax) will be distributed to all shareholders for every 10 shares, and a total of 138 million yuan in cash (including tax) will be distributed. (Sina)
Interpretation If the localization of IT is further expanded, it is inevitable that Kingsoft Office will become an IT giant in the future.
4. [JP Morgan Chase spends 3.399 billion Hong Kong dollars again to increase Ping An of China] On March 19, the U.S. stock market melted down again the next day, and JP Morgan Chase increased its holdings of China again. Ping An (H shares), according to the”Easy Disclosure” information of the Hong Kong Stock Exchange’s information disclosure website, JP Morgan Chase bought 47,734,303 shares of China Ping An (H Shares) on the same day, and spent HK $ 3,399 million on the average stock price on that day. After the increase, JPMorgan Chase’s long position holds 19.15% of Ping An of China. (China Securities Journal)
Interpretation On the one hand, China Ping An ’s solid performance, stable dividend payout, and relatively low valuations are important reasons why JPMorgan chose to increase its holdings. On the other hand, Chinese assets are relatively strong in fighting the epidemic, and they have a hedging role.