On the last trading day of the week, A-shares can be described as "golden optoelectronics" (gold, optical modules, home appliances) shining.
Catalyzed by the continuous rise in international gold prices and oil prices last night, today's gold, oil and gas concepts rose first, and gradually extended to shipping, chemical and other subdivisions. Stimulated by the good news, the concept of equipment renewal continued to spread, and home appliances-related sectors exploded. Optical module concept stocks rose in the afternoon, and the "three brothers of Yizhongtian" Xin Yisheng, Zhongji Innolight, and Tianfu Communication rose sharply.
As of the close, the Shanghai Composite Index fell 0.49%, the Shenzhen Component Index fell 0.78%, and the ChiNext Index fell 1.08%, with a turnover of 810.2 billion yuan.
UBS Securities analysis said that the performance of A-share companies in the first quarter is expected to exceed market expectations, and the increase in profit expectations and favorable policies related to the capital market may promote A-shares to gain a new round of momentum in the second quarter. The earnings per share growth rate of the A-share CSI 300 Index is expected to increase to 8% this year from 3% in 2023.
The home appliance sector exploded
Stimulated by yesterday's news, the concept of home appliances broke out throughout the day. As of the close, kitchen and bathroom appliances, small household appliances, and white goods rose 5.26%, 4.91%, and 2.93% respectively. Hongzhi Technology's "30CM" daily limit, Beiding shares, Shuai Feng Electric, and Hongchang Technology have daily limits.
On April 11, at the regular policy briefing of the State Council held by the State Council Information Office, the relevant persons in charge of multiple departments introduced the relevant situation of the "Action Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods".
Zhao Chenxin, deputy director of the National Development and Reform Commission, said that the consumer goods trade-in document led by the Ministry of Commerce may be officially issued in the next few days. Shan Zhongde, Vice Minister of the Ministry of Industry and Information Technology, said that in the next step, it will focus on key industries such as petrochemical industry, iron and steel, nonferrous metals, building materials, machinery, automobiles, light industry, textiles, electronics, etc., and carry out four major actions of advanced equipment renewal, digital transformation, green equipment promotion, and safety level improvement, and comprehensively promote equipment renewal and technological transformation.
Xu Xingfeng, director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, said that in terms of "smart" household appliances, the focus is on opening up the whole chain of home appliances for new ones, focusing on improving the convenience of urban and rural residents to replace them;
Huatai Securities pointed out that the domestic market white wire retail is positive. According to data from Aowei Cloud Network, from January to March, the online retail sales of air conditioners, refrigerators and washing machines increased by 35.9%, 18.5% and 16.8% year-on-year respectively. Customs data show that from January to February, the year-on-year growth rate of air conditioners, refrigerators and washing machines was 11.5%, 38.3% and 31% respectively.
In addition, in the first quarter, the average price of copper and aluminum in raw materials still increased year-on-year, and the year-on-year recovery of the average price of air conditioners, refrigerators and washing machines may drive a slight increase in gross profit margin. The export trend of small household appliances is positive, among which the export performance of electric heating small kitchen appliances and two net products is strong, and the income and net profit elasticity of enterprises with a high proportion of exports may be more obvious.
The gold concept continues to be active
The concept of gold performed dazzlingly throughout the day, and individual stocks in the sector set off a "rising tide". As of the close, precious metals and gold concept plates rose 5.98% and 3.85% respectively. Mancaron "20CM" daily limit, Laishen Tongling 9 days and 9 boards, Ningbo Zhongbai 3 days and 3 boards, Zhongrun Resources 7 days and 5 boards, Shengda Resources, Mingpai Jewelry and other shares of the daily limit.
The price of Shanghai gold rose rapidly, reaching a record high of 570.56 yuan/gram. As of the close, the main contract rose 2.69% to 570.5 yuan/gram, and Shanghai silver rose 4.07% to 7472 yuan/kg. Since the beginning of March, the price of Shanghai gold has continued to rise from 481.8 yuan/gram to around 570 yuan/gram, with a cumulative increase of more than 18% during the period.
In addition, as of press time, spot gold continued to hit a record high, standing strongly above the $2,400 per ounce mark, up 1.1% on the day.
On 11 April, the price of gold hit another all-time high. On the same day, international precious metal futures also generally closed higher. Analysts said that the US PPI data released last night was lower than market expectations, and the Fed's expectations of interest rate cuts within the year have been boosted, which may be the main factor in the rise of precious metals.
Bank of America latest forecasts that gold and silver will rise to more than $3,000 and $30 an ounce over the next 12 months. Copper and aluminium prices are expected to rise to US$12,000 and US$3,250 per tonne respectively by 2026.
On April 12, the Shanghai Gold Exchange issued the Notice on Adjusting the Margin Ratio and Price Limit of Some Contracts, adjusting the margin ratio and price limit of gold deferred contract transactions and the margin of performance guarantee inquiry contracts. Starting from the closing of liquidation on April 15 (Monday), the margin ratio of Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, NYAuTN12 and other contracts will be adjusted from 8% to 9%, and the limit of the price increase and decrease will be adjusted from 7% to 8% on the next trading day; The margin of CAu99.99 contract was adjusted from $45,000 per lot to $51,000 per lot.
Although gold prices will also benefit from reflation transactions, the risk aversion derived from the Palestinian-Israeli and Russia-Ukraine conflicts is a more important factor influencing gold prices, and the evolution of geopolitical risks needs to be focused on in the future, and gold prices may still have room to rise if the risk is further escalated.
Optical module concept stocks strengthened in the afternoon
In the afternoon, the concept of optical module (CPO), optical communication and chips soared. Shengyi Electronics rose more than 18% intraday and closed up more than 14%; Tianfu Communication rose more than 14% intraday, and its stock price was as high as 173.99 yuan per share, hitting a record high, closing up more than 11%; Xinyisheng rose more than 5%, and Zhongji Innolight rose more than 5%.
On April 12, according to Tsinghua University, in response to the problem of large-scale optoelectronic intelligent computing, the research group of Fang Lu, associate professor of the Department of Electronic Engineering of Tsinghua University, and the research group of academician Dai Qionghai of the Department of Automation, abandoned the traditional electronic depth computing paradigm and found another way, pioneered the distributed breadth optical computing architecture, developed a large-scale interference-diffraction heterogeneous integrated chip Taichi, and realized 160 TOPS/W general intelligent computing. In today's era of vigorous development of large-scale model general artificial intelligence, this scientific research achievement explores new inspiration, new architecture, and new path for high-performance computing power with the way of photons.
Wanlian Securities pointed out that the computing power upgrade brought about by the artificial intelligence model has driven the development of servers, data center optical modules and other industries, and the digital business and cloud service business of operators have become a new growth driver. In the medium and long term, it is recommended to pay attention to the investment opportunities in the digital application of the satellite communication industry chain, the artificial intelligence computing power industry chain and the construction of 5G.
CICC believes that the total shipment of 1.6T optical modules in 2025 is expected to be about 3.6 million to 5.95 million in 2025, which is higher than the current market expectation.
Shares of Leyard fell sharply
Today, Leyard's share price continued to fall. At the close, the stock fell 4.7% to 4.66 yuan per share. Since January 2 this year, the stock has fallen more than 20%.
On the evening of April 11, Leyard released its 2023 annual performance report. According to the report, the company's operating income was 7.615 billion yuan, a year-on-year decrease of 6.61%, the net profit attributable to shareholders of listed companies was 286 million yuan, a year-on-year increase of 1.6%, and the basic earnings per share was 0.113 yuan.
It is worth mentioning that at the beginning of the annual report, Li Jun, chairman of Leyard, delivered a speech and mentioned the five major mistakes that led to the company's stock price plummeting in 2023. ”
Image source: Company announcement
Regarding the "reflective" speech in the company's annual report, some investors said, "Good poetry, good poetry, can you spend some effort to improve performance?" The attitude is good, come on and improve the performance. ”
(The picture of the market in the article comes from the straight flush)
Editor: Ya Wenhui
Proofreader: Zhang Lijing Producer: Zhang Nan Signed: Sun Hong