A-share opening: the three major stock indexes collectively opened high, and Fang Huanyu, a shareholder of the concept of western development, had a one-word limit

According to the financial community on April 24, the Shanghai Composite Index rose 0.25% to 3029.4 points, the Shenzhen Component Index rose 0.03% to 9186.19 points, the ChiNext Index rose 0.24% to 1757.31 points, and the Science and Technology 50 Index rose 0.53% to 731.71 points. The total turnover of the Shanghai and Shenzhen stock markets was 6.71 billion yuan, and the actual net purchase of northbound funds was 357 million yuan. The concept of western development stocks opened actively, Oriental Huanyu had a one-word daily limit, and Western Animal Husbandry, Hongtong Gas, Western Construction, and Gaozheng Civil Explosion collectively opened high.

As of press time, the Shanghai Composite Index rose 7.43 points, or 0.25%, to 3,029.4 points, the Shenzhen Component Index rose 3.05 points, or 0.03%, to 9,186.19 points, the CSI 300 Index rose 7.79 points, or 0.22%, to 3,514.01 points, the ChiNext Index rose 4.15 points, or 0.24%, to 1,757.31 points, and the STAR 50 Index rose 3.86 points, or 0.53%, to 731.71 points.

Market focus stocks Zhongheng Design (5 boards) bid down limit, food and beverage sector Lehui International (5 days and 4 boards) opened 9.39% higher, low-altitude economic concept stocks VIE Technology (5 days and 4 boards) opened 5.19% lower, Guangzhi Technology (GEM first board) opened 2.21% lower, military stocks Zhanpeng Technology (5 days and 3 boards) bidding limit, Guangha Communication (GEM 2 boards) opened 2.05% higher, Sichuang Electronics (2 boards) opened 1.40% higher, solid-state battery concept stock Baolidi (GEM 6 days 3 boards) opened 3.88% higher, Blue Ocean Huateng (the first board of the GEM) opened 6.33% higher, the pesticide stock Asia-Pacific Industrial (2 board) bid up limit, and the home appliance stock Liren Technology (2 board) bid up limit.

Global Market:

At the same time, the newly released economic data is favorable to the Fed's expectation of interest rate cuts, and U.S. stocks closed up across the board, with the Dow up more than 260 points, the Nasdaq up nearly 250 points, and the S&P up 1.17%; large technology stocks rose, with Netflix up more than 4%, Nvidia up more than 3%, Meta up more than 2%, Tesla, Microsoft, Google, and Amazon up more than 1%, HashiCorp up more than 18%, and Chinese concept stocks up more than 11% iQiyi rose more than 6%, Tencent Music rose more than 4%, Pinduoduo and Manbang rose more than 3%, Xiaopeng Motors, Alibaba, and JD.com rose more than 2%; the U.S. dollar index hit a new low in more than a week, and the yen, which hit a new low since 1990, quickly turned up; the offshore yuan fell more than 100 points and fell to 7.26 intraday; Bitcoin once rose more than $1,000 to regain the 67,000 mark; gold futures were close to erasing the decline of nearly 2%, and silver futures, which fell nearly 2% intraday, turned up; crude oil rebounded nearly 3% from its intraday low , cloth oil off more than three weeks low, London tin fell more than 7%, London copper continued to fall from a two-year high, U.S. Treasury yields refreshed daily lows, two-year yields off five-month highs.

Company News

Tianqi Lithium: It is expected to have a net loss of 3.6 billion yuan to 4.3 billion yuan in the first quarter, and a profit of 4.875 billion yuan in the same period last year. The change in performance was affected by the fluctuation of the lithium product market, and the sales price of the company's lithium products decreased significantly compared with the same period last year, and the gross profit of lithium products decreased significantly.

China Duty Free: In the first quarter, the company achieved operating income of 18.807 billion yuan, down 9.45% year-on-year, net profit attributable to the parent company of 2.306 billion yuan, year-on-year increase of 0.25%, and basic earnings per share of 1.1148 yuan.

Huaneng International: In the first quarter of 2024, the operating income was 65.367 billion yuan, a year-on-year increase of 0.15%, and the net profit was 4.596 billion yuan, a year-on-year increase of 104.25%, mainly due to the year-on-year decrease in fuel cost and electricity year-on-year growth in domestic business units.

Tonghua Dongbao: The company participated in the declaration of the national centralized drug procurement (insulin special continuation) organized by the National Centralized Procurement and Use of Drugs organized by the Joint Procurement Office. A number of the company's specifications of products are planned to be selected for this centralized procurement. The total sales of the products to be selected in 2023 will be 2.558 billion yuan, accounting for 83.19% of the company's operating income in 2023.

Gan & Lee Pharmaceutical: The company participated in the bidding for the national centralized drug procurement (insulin special continuation) organized by the National Joint Procurement Office for the Centralized Procurement and Use of Drugs. A number of varieties that the company participated in the declaration were qualified to be selected in the continuous procurement of insulin, and all participating groups had Class A varieties to be selected. The total sales of the products and related products to be won by the company in 2022 will be 1.369 billion yuan, accounting for 79.96%, and the total sales in the first three quarters of 2023 will be 1.582 billion yuan, accounting for 82.99%.

Institutional Perspectives:

Galaxy Securities: It is recommended to focus on AI-driven humanoid robots, equipment investment opportunities under large-scale equipment updates, and equipment investment opportunities driven by new technologies in the field of special equipment. 1) Humanoid robots: 24 years is expected to enter a critical period of commercialization, policy support for the industrialization of Chinese humanoid robots can be expected in the future; 2) Large-scale equipment update: central state-owned enterprises benefit from railway equipment first, and the economy stabilizes and enters the stage of industrial replenishment, pro-cyclical general equipment can be expected to be flexible; 3) Special equipment: new technologies drive a new round of equipment investment, focusing on 3C MR, photovoltaic BC and perovskites, lithium battery composite copper foil, etc.

China Securities Construction Investment: The market funds are risk-averse and wait-and-see, and the market may still maintain the main tone of overall shock before the holiday. The focus of the operation is still to grasp the market rotation and trading rhythm. The market outlook can focus on the following main lines: first, high dividend stocks, second, energy and commodities, third, performance stocks under the influence of the earnings season, fourth, the overseas industrial chain, and fifth, equipment renewal, consumer goods trade-in, new quality productivity and science and technology from the perspective of medium and long-term perspectives.

Everbright Securities: The Shanghai Composite Index is not far from the 3,000-point mark, and the recent market trend has repeatedly verified the resilience of 3,000 points, and the positive expectations of the Politburo meeting of the Central Committee are expected to bottom out and rebound near 3,000 points. At the same time, in the context of the continuous shrinkage of the market, the style of structural market and hot spot rotation is likely to continue. At the same time, the press conference of the State Council Information Office will promote the coordinated development of urban and rural areas, implement and improve fiscal and taxation policies, vigorously promote new urbanization, and support local policies to promote the urbanization of agricultural transfer population.