Today, the broader market rebounded, with all three major indexes up more than 1%.
On the disk, the large consumption sector broke out and strengthened in an all-round way, and the direction of consumption recovery led the rise. Yesterday's sharp fall in the track plate this morning rebounded and repaired, but the rebound is limited, and the photovoltaic and chip plates perform relatively well. In terms of decline, most of the stocks in the automotive industry chain continue to adjust.
In general, individual stocks rose more than fell less, more than 2700 stocks in the two cities rose, and nearly 100 shares rose or rose by more than 10%. The turnover of Shanghai and Shenzhen cities today was 1,159.8 billion yuan, a contraction of 156.4 billion yuan from the previous trading day.
By the close, the Shanghai index was up 1.1%, the Shenzhen component index was up 1.57%, and the ChiNext index was up 1.52%. The Shanghai and Shenzhen Stock Connect is closed today due to Hong Kong public holidays.
SenseTime shares plummeted
Today, in the Hong Kong stock market, the share price of SenseTime-W, known as the "first AI stock", plummeted. After the opening of the Hong Kong stock market, the company's stock price plunged, fell more than 50% intraday, and then the decline narrowed, but it still exceeded 40%, and its total market value evaporated by HK$90 billion.
So, what is the reason for the company's stock price plummeting? Analysts believe that it has nothing to do with fundamentals and may have to do with the lifting of the ban.
As the first of the four AI tigers, SenseTime's listing path has always attracted much attention. According to IDC China's 2021 first half artificial intelligence market share report, the market size of computer vision in the first half of the year was $990 million, an increase of 33.0% year-on-year. SenseTime ranks first with a market share of 20.5%. It was followed by Megvii Technology, with a market share of 7.3%.
On December 30, 2021, SenseTime's Hong Kong stock market was listed, and the company's stock price rose by more than 23%, and its market value was as high as HK$150 billion. Since then, it has been rising for days, with a market capitalization of more than HK$300 billion, and today is the day when almost all pre-listing investors and cornerstone investors are lifted.
In order to stabilize the stock price, on the morning of June 30, SenseTime announced on the Hong Kong Stock Exchange that Dr. Xu Li, Dr. Wang Xiaogang, Mr. Xu Bing and certain members of the Group's management voluntarily promised not to sell the company's 2.002 billion Class B shares (accounting for about 5.98% of the total number of issued shares) before December 29, 2022, in order to express confidence in the company's "long-term value and prospects". ”
In terms of performance, on the evening of March 25, SenseTime released its first financial report after the IPO, showing that the company's artificial intelligence technology mass production capacity achieved further breakthroughs, and business growth accelerated, with revenue of 4.7 billion yuan and net cash reaching 21.45 billion. During the reporting period, the commercialization of SenseTime's artificial intelligence technology accelerated, and the four major business sectors of smart city, smart business, smart car and smart life maintained their leading position in the industry.
Tourist hotels ushered in a strong performance
At the same time, in the A-share market, it is a thriving scene. Among them, tourist hotels occupy the C position in the market.
Among the individual stocks, Huatian Hotel, Zhangjiajie, Tongqinglou, Lijiang Shares, Guilin Tourism, Yunnan Tourism, etc. have risen and fallen.
On the news side, on June 29, the official website of the Ministry of Industry and Information Technology issued a notice that in order to resolutely implement the general strategy of the Party Central Committee and the State Council on "external prevention of import, internal prevention and rebound" and the general policy of "dynamic zeroing", support the efficient overall planning of epidemic prevention and control and economic and social development, and facilitate the travel of the majority of users, the "asterisk" mark of the communication itinerary card will be cancelled from now on.
After the news was announced, on the afternoon of June 29, the search popularity of hotels and air tickets on major travel platforms immediately increased significantly.
Search volume for several popular travel destinations on Ctrip's platform increased by more than 300%; On the Qunar platform, in only half an hour, the search volume of air tickets increased by 60%, the search volume of hotels doubled, and the search volume of train tickets rose by up to 1.5 times; on the Fliggy platform, the search volume of air tickets in about 1 hour increased by more than 50%.
In this regard, Anxin Securities pointed out that the recent adjustment of epidemic prevention and control measures, there have been multi-level policy optimization, including inter-provincial travel circuit breaker policy adjustment, normalization of nucleic acid frequency adjustment, etc., for the tourism travel market has brought a very positive impact, the ninth edition of the new crown pneumonia prevention and control plan again optimized and adjusted the isolation management period and mode of risk personnel, is expected to further promote residents' confidence in travel, follow-up suggestions continue to pay attention to the policy to continue to make efforts, the summer peak season is expected to become a key node of the year.
The large consumption sector is worth paying attention to
In addition to tourist hotels, large consumption sub-sectors such as food and beverage, condiments, liquor, beer, and duty-free also performed strongly.
Industrial Securities believes that the layout of the consumer sector in the second half of 2022 can focus on two clues of dilemma reversal: post-epidemic recovery + stable growth. In terms of post-epidemic recovery, benefiting from the improvement of the epidemic, the repair of travel and offline consumption scenes, the travel-offline consumption chain has a high probability of reversal in the second half of the year, and the resumption of work and production in automobiles and other sectors is also advancing. In terms of stable growth, with the easing of the epidemic, stable growth policies such as promoting consumption and marginal relaxation of real estate are more in place, which will increase the performance of related consumer sectors while boosting sentiment.
At the same time, considering that the weak demand in the second half of the year and the epidemic disturbance are expected to gradually ease, the demand repair support superimposed cost competition optimization, the industry is expected to enter a new round of profit release cycle, short-term disturbance does not change the long-term growth logic of the industry.
Finally, it is worth noting that the consumer sector is a sector with frequent bull stocks, which is mainly caused by the following factors.
First of all, the stocks in the just-needed consumption sector are generally food, clothing, housing, and transportation, which are necessities for everyone, and its demand and consumption are relatively stable and indispensable. Moreover, with the improvement of people's living standards, the level of consumption will continue to increase, and people will pursue higher levels of enjoyment and consumption upgrades, which will further push up the stock price of the consumer sector.
Secondly, the listed companies in the repeated consumption consumption sector are generally engaged in products that can be reused, the repurchase rate is extremely high, the wine has drunk a bottle, and it is happy to have another bottle. Once customers become dependent on the brands they consume, they will greatly increase the frequency of consumption and stabilize for a long time.
Finally, it is not easy to be affected by emergencies and new technologies, no matter what emergencies occur, the just demand and repeated consumption of the consumption sector will not stop, whether it is wind and rain, or war, the world is in chaos, and it is necessary to eat. The consumer sector is not like the technology sector, it will not be accidentally left behind by the times, like Coca-Cola, which sold sugar water more than a hundred years ago, and is still selling sugar water.