China Fund News Chenxi
Hello everyone, let's pay attention to the market situation and the latest information in the morning~
On April 25, the major A-share indexes opened lower: the Shanghai Composite Index was at 3,037.93 points, down 0.23%, the Shenzhen Component Index fell 0.5%, and the ChiNext Index fell 0.7%. As of press time, the Shanghai Composite Index and the Shenzhen Component Index have turned red.
In terms of industry sectors, chemical stocks rose first in the morning, fine chemicals, chemical raw materials and other subdivisions rose sharply, PEEK materials, vanadium batteries, phosphorus chemicals, weight loss drugs and other indices rose; national defense and military industry, food and beverage, social services and other sectors sluggish, satellite Internet, Douyin platform, large aircraft and other concepts declined.
Hong Kong stocks opened slightly lower today: the Hang Seng Index and Hang Seng State-owned Enterprises fell 0.33%, and Hang Seng Technology fell 0.48%. As of press time, the three major indexes have turned red, and the Hang Seng Index has risen more than 1%. SenseTime-W continued yesterday's rally after the resumption of trading, leading the rise of Hang Seng Technology.
Diet pills are hot
The chemical sector set off a rising tide
On the morning of April 25, the concept of weight loss drugs picked up again, and Changshan Pharmaceutical quickly broke out of the 20CM daily limit at the opening, and Baihua Pharmaceutical and Hanyu Pharmaceutical followed suit.
After yesterday's market hours, Changshan Pharmaceutical announced that the marketing authorization application for ebenatide injection submitted by its holding subsidiary was accepted by the State Food and Drug Administration. In addition, Changshan Pharmaceutical and its subsidiaries received a government subsidy of 3.5241 million yuan. However, Changshan Pharmaceutical once again emphasized that the indication of ebenatitide injection is for the treatment of type 2 diabetes, and clinical trials of ebenatide for obesity or weight loss have not yet been carried out.
In addition, the chemical sector as a whole rose in the morning, Nanjing Julong, Renxin New Materials, Huiyun Titanium Industry 20CM daily limit, Asia-Pacific Industrial, Shilong Industrial and other shares of the daily limit board.
Among them, the titanium dioxide index continued to rise in the morning, Lubei Chemical, Annada, and Jinpu Titanium Industry continued to rise one after another, and Tianyuan shares, China Nuclear Titanium Dioxide, and vanadium titanium shares followed up.
Recently, a number of titanium dioxide concept stocks have announced their 2023 annual reports and first-quarter results, and the overall industry is developing well. In 2023, Huiyun Titanium will achieve operating income of 1.652 billion yuan, a year-on-year increase of 9.22%, and attributable net profit of 41.038 million yuan, a year-on-year increase of 189.59%. Lubei Chemical's net profit attributable to the parent company in the first quarter of 2024 was 50.5414 million yuan, a year-on-year increase of 3131.39%.
Transsion Holdings fell more than 10%
On the morning of April 25, the share price of Transsion Holdings, the "king of mobile phones in Africa", fell sharply, falling by more than 10% intraday. As of press time, Transsion Holdings' share price was 146.61 yuan per share, down 10.01%, with a total market value of 118.3 billion yuan.
After trading yesterday, Transsion Holdings released the first quarter report of 2024, the company's operating income was 17.443 billion yuan, a year-on-year increase of 88.10%, the net profit attributable to the parent company was 1.626 billion yuan, a year-on-year increase of 210.30%, and the non-net profit was 1.354 billion yuan, a year-on-year increase of 342.59%.
The performance rose sharply and the stock price fell, and Transsion Holdings' performance in the morning made many shareholders shout "nonsensical" and "what happened".
New Oriental fell more than 19% after results
Oriental Selection fell more than 10%
After the results were announced, on the morning of April 25, the Hong Kong stock New Oriental-S opened low and went low, and the lowest intraday share price was HK$57.25 per share, down more than 19%.
Oriental Selection was not spared, and its stock price fell by more than 10% in the morning.
Yesterday, New Oriental released its unaudited financial results for the third quarter ended February 29, 2024, with net revenue of US$1.207 billion, a year-on-year increase of 60.1%, operating profit of US$113 million, a year-on-year increase of 70.6%, and net profit attributable to shareholders of New Oriental of US$87.167 million, a year-on-year increase of 6.8%.
BOCOM International believes that New Oriental's revenue in the fourth quarter is expected to increase by 38% to US$1.18 billion (management guidance of 28%~31%), and the operating profit margin may decline by 3 percentage points year-on-year to 6%, mainly due to the increase in Oriental selection, the off-season of education business, and the impact of cultural and tourism investment. Corresponding to a P/E ratio of 25 times the education business, excluding Oriental Selection, New Oriental lowered its target price to HK$89/US$116 (EDU US) in the next 12 months.
Xiaomi Auto official announcement
5,781 units have been delivered
The popularity of Xiaomi cars continues. On April 25, Xiaomi Auto issued a document saying that as of April 24, the number of Xiaomi car lock orders exceeded 75,723 units, and 5,781 units had been delivered.
Xiaomi Auto said that Xiaomi SU7 plans to plan the first OTA (Over-The-Air Technology) in early May 2024 and the second OTA at the end of May, and fully expand production capacity, with monthly deliveries of more than 10,000 units in June, and plans to complete the annual delivery target of 100,000 units.
On April 25, Lei Jun said at the Beijing Auto Show that Xiaomi has achieved "delivery when it is listed, and delivery is on the volume", and it has experienced "inhumane and miserable" fierce competition since its listing. For intelligent driving, which consumers are most concerned about, Lei Jun said that in May, urban NOA (Navigate on Autopilot) will be opened in many cities, which is comparable to Huawei and Xpeng. The active rate of intelligent driving reached 79%.
Editor: Huang Mei
Review: Xu Wen