A shares yesterday
The three major A-share indexes rose collectively yesterday, with the Shanghai Composite Index up 1.42%, a new high since the year, the Shenzhen Component Index up 0.47%, and the ChiNext Index up 0.26%. The turnover of Shanghai and Shenzhen yesterday was 1.1209 billion, exceeding 1 trillion yuan for the 10th consecutive trading day, 5.9 billion yuan more than the previous trading day, and northbound funds bought 1.918 billion yuan yesterday. Many Chinese stocks such as China Haicheng, PetroChina, Air China, and Chinese Life rose sharply, while media stocks such as Chinese Online, Tianxia Show, Mango Super Media, and Light Media fell sharply.
According to the theme library of Nancai Financial Terminal, oil, insurance, white goods, Chinese characters, securities and other related themes rose first; Natural gas, NFT, Web 3.0, publishing, games, film and television media, virtual digital humans and other themes fell first.
Overnight outer plate
The three major indexes of U.S. stocks closed slightly higher on the 17th. By the end of the day, the NASDAQ was up 0.28%, the S&P 500 was up 0.33%, and the Dow was up 0.3%. Big tech stocks were mixed, with Tesla up more than 1%, Apple, Amazon, and Microsoft rising slightly; Google fell more than 2.5%, Netflix and Facebook fell more than 1%.
Major European stock indexes fell back on the 17th, and most closed down. Germany's DAX30 fell 0.11%, Britain's FTSE 100 rose 0.1%, France's CAC 40 fell 0.28%, and the Euro Stoxx 50 fell 0.51%.
International oil prices fell significantly on the 17th. By the close of the day, light crude futures for May delivery on the New York Mercantile Exchange fell $1.69, or 2.05%, to settle at $80.83 a barrel; London Brent crude futures for June delivery fell $1.55, or 1.80%, to settle at $84.76 a barrel.
Heavy information
1. MIIT will carry out in-depth digital transformation actions in manufacturing China is expected to take the lead in benefiting from the application of AI technology in the field of smart home appliances
According to Xinhua News Agency, Xu Xiaolan, vice minister of the Ministry of Industry and Information Technology, recently said at the 14th China Industry-University-Research Cooperation and Innovation Conference that the Ministry of Industry and Information Technology will carry out in-depth digital transformation actions in the manufacturing industry, transform and upgrade traditional industries, vigorously implement industrial infrastructure reengineering projects and major technical equipment research projects, consolidate and upgrade advantageous industries, continuously develop new application scenarios around key areas, and cultivate and expand emerging industries.
In the direction of attention, CITIC Securities believes that at present, China is leading global innovation in the fields of smart TVs, smart speakers, and smart micro-projections, and is expected to take the lead in benefiting from the application of AI technology, and leading manufacturers actively embrace AIGC, such as TCL, Hisense Vision, Changhong and other black power enterprises have become the first batch of ecological partners of "Wen Xin Yiyan". In the long run, with the upgrading of AI computing power and the iteration of sensing technology, it is expected that smart home products will undergo qualitative changes.
2. Finished oil prices will rise the most this year The energy industry chain will fully benefit from the valuation repair brought by the "China Special Valuation"
The National Development and Reform Commission announced that from 24:00 on April 17, domestic gasoline and diesel prices will increase by 550 yuan and 525 yuan per ton respectively. Equivalent to the price increase, No. 92 gasoline, No. 95 gasoline and No. 0 diesel were raised by 0.43 yuan, 0.46 yuan and 0.45 yuan respectively. Based on an ordinary private car with a fuel tank capacity of 50 liters, owners will spend about 21.5 yuan more to fill up a tank of No. 92 gasoline.
Industrial Securities recently pointed out that the energy industry chain, as one of the directions with the highest proportion of state-owned enterprises, will fully benefit from the valuation repair brought by the "China Special Valuation". Recently, the mainland has accelerated the deepening of cooperation with Middle Eastern countries, and the energy industry chain has become an important direction, providing a catalyst for the plate.
3. Myanmar's Wa State will "ban mining" in August The country may face a huge tin mine shortage
According to the tin branch of the China Nonferrous Metals Industry Association, on April 15, the Wa State Central Economic Planning Commission issued a notice that it would suspend the mining and excavation of all mineral resources after August 1 this year, and give three months to clean up the aftermath for companies and enterprises whose contracts have not expired and are still mining. The reporter of Shanghai Securities News learned from authoritative channels in the industry that the above documents are true, and the follow-up situation remains to be seen. (Shanghai Securities News)
Everbright Futures latest comment said that according to customs data, domestic tin mines are dependent on foreign countries around 45%-50%, and imported mines from Myanmar account for about 80%. According to local traders, the Wa region accounts for more than 70% of Myanmar's production from tin ore. Although the import of mines from the Democratic Republic of the Congo, Bolivia and Peru has increased significantly in the past two years, the global capital expenditure of tin ore has been significantly lower in the past 10 years, and there are almost no new mines put into operation in the next three years, and the remaining countries have limited domestic mineral supplements. If the implementation of the mining ban policy is implemented, China will face a huge tin mine gap that is difficult to fill.
4. Low-cost electric vehicles become a trend The agency recommends paying attention to incremental component opportunities under the trend of electric intelligence
According to CCTV financial news, since the beginning of this year, the price difference between Model Y and ordinary new cars in the United States has been narrowing. At present, the electric vehicle market has indeed seen a trend of low prices, including Volkswagen, American start-up Fisk, and General Motors and many other car companies are planning to launch electric vehicles below $30,000.
Guosen Securities pointed out that in the medium and long term, it pays attention to incremental component opportunities under the rise of independent brands and the trend of electric intelligence. In the one-year dimension, under the background of this year's price war, Tesla and BYD industrial chains, which have high capacity utilization and high bicycle profitability, are the alpha varieties of the automotive sector. The current sector has the following three rebound catalysts: (1) the performance realization period of the first quarterly report of the annual report; (2) supported by the year-on-year high growth rate of weekly upward risk from the second half of March to the whole month of April; (3) Intensive new vehicle launches at the Shanghai Motor Show in April.
5. Kunlun Wanwei officially released a 100-billion-level large language model Institution: Pay attention to the lightweight application of AI large model on the terminal side
According to Kunlun Wanwei official micro news on April 17, the company officially released the 100-billion-level large-language model "Tiangong", and announced that it will start the invitation test from now on. Judging from the current release version of "Tiangong", it can support up to 10,000 words of text dialogue and achieve more than 20 rounds of user interaction.
According to Huatai Securities Research Report, model compression technology is the core technology to realize the deployment of AI large models at the edge/end. At present, Google, Microsoft, Tencent and other manufacturers have layouts in this field, which will accelerate the integration of AI technology and intelligent terminals, and domestic SoC design companies are expected to benefit deeply. Model compression technology can reduce the demand for inference computing power while maintaining the original performance and accuracy of large models: 1) Quantization: Convert floating-point calculations to low-specific point calculations; 2) Network pruning: remove redundant channels, neuron nodes, etc. in the neural network; 3) Knowledge distillation: use the large model as the teacher model, and use its output to train student models with similar performance and simpler structure.
6. Twelve provincial capital-level cities have reached a record high in the production and sales of air conditioners
According to China Weather Weibo news, as of 16:30 on April 17, the temperature of 12 provincial capital-level cities such as Hohhot, Taiyuan, Jinan and Hangzhou has hit a new high this year, among which the real-time temperature in the main urban area of Hangzhou has exceeded the 35°C high temperature line, setting a new record.
With the arrival of high summer temperatures, the production and sales of air conditioners began to increase. According to data from Oviyun.com, the total production of air conditioners in April was 17.14 million units, of which 10.03 million units were scheduled for domestic sales, a year-on-year increase of 34.3%, and 7.38 million units were exported, a year-on-year increase of 6.8%. Cinda Securities believes that the performance of home appliance companies has the characteristics of robustness and high growth rate, coupled with the current high dividend yield level and potential valuation repair space, home appliance Baima has a high investment cost performance.
Institutional finishing touches
- Kaiyuan Securities said that global liquidity is expected to improve, equity assets benefit, the trend of resident savings to investment migration or has begun, trading volume and fund sales are expected to continue to improve in the second quarter, and the first quarterly report of securities firms exceeds expectations or brings catalysis, reiterating optimism about opportunities in the brokerage sector. High profitability flexibility, large wealth management and fintech targets are expected to lead.
- The latest research report of TF Securities pointed out that solar thermal power generation has the advantages of both peak shaving power supply and energy storage, and is expected to usher in new development opportunities under the blessing of policies. It is estimated that from 2023 to 2025, the new installed capacity of solar thermal projects is expected to reach 9.4GW; the output value of thermal insulation materials/photothermal glass brought by a single GW installation is 8/390 million yuan, respectively, and the demand for thermal insulation materials/photothermal glass will increase by 7.44/3.6 billion yuan in the next three years, and the head enterprises are expected to fully benefit.
- Guojin Securities pointed out that benefiting from the pull of AI demand, the electronics industry chain has obviously felt the demand for goods (such as NVIDIA adding AI chip orders to TSMC, customers increasing AI server BMC chip research and development projects, etc.). Overall, we believe that the performance of the electronic semiconductor industry will rise quarter by quarter, and the second half of the year is expected to usher in an upward inflection point driven by demand recovery + replenishment of inventory, and continue to be optimistic about the demand-driven, independent and controllable (semiconductor equipment, components, materials) and demand reversal benefit industry chain of AI new technologies.
- Soochow Securities pointed out that the liquor sector experienced an adjustment in March, the feedback of channel distributors last week was basically in line with expectations, the sector was affected by funds and pulled back, the current industry trend remains unchanged, in the long run, the trend of industry concentration to famous wine enterprises, production areas, and brands is unchanged, famous and excellent wine enterprises continue to internal reform, refined management, growth momentum is sufficient, there is still more space. The first half of the year is still the stage of actual digestion of inventory by wine companies, and wine companies actively organize activities, new promotions, factory tours, tasting meetings, circle marketing, etc., to help mobile sales, adhere to the scarcity of planned quantities, control the price of goods, and severe penalties of illegal distributors, etc., which is expected to gradually promote the upward trend of the price system. The expectation is to gradually return to reasonable, and the price is expected to increase steadily as the subsequent scenario/economic recovery continues.
Focus announcement
INVT: net profit in the first quarter was 95.34 million yuan, a year-on-year increase of 3016.70%
Guofa shares: net profit of 34.8612 million yuan in 2022, a year-on-year increase of 232.44%
East Lake High-tech: The amount of new engineering construction projects signed in the first quarter was 6.367 billion yuan, a year-on-year increase of 1222.2%
Jolywood: Plans to invest in "13.5GW solar cell project with an annual output"
Goertek: net profit in the first quarter of 2023 was 106 million yuan, down 88.22% year-on-year
Dinglong shares: packaging photoresist has completed the client sample delivery of a large packaging factory
Obit: Signed the "North China Satellite Industry Center Investment and Operation Cooperation Framework Agreement"
AMEC: Xunxin Investment intends to reduce its stake in the company by no more than 2%.
Funding radar
Industry capital flow
Individual stock capital flow
Trading Tips
(Disclaimer: The content of the article is for reference only and does not constitute investment advice.) Investors do so at their own risk. ）
Economic Calendar|Master global events, predict financial news, speed read economic data, grasp trading tips
For more information, please download 21 Finance APP