An operation is as fierce as a tiger, turning back three thousand in situ pestle, in a trance, this year has reached the edge of the largest long holiday May Day in the first half of the year, and the structural market since mid-February is still deducing, of course, the overall performance of the index is lackluster, and the consolidation is mainly fluctuating. In April, the market has obvious characteristics of the operation of partial varieties, in addition to the consistent high dividends + gold non-ferrous metals, some funds have spared no effort to explore the cycle. It is difficult for the market to simply say good or bad trends, it can only be said that the micro sentiment is recovering, and the breakthrough at the bottom has to wait for various macro and micro combinations to resonate
After all, in the United States and Japan, the operation of injecting liquidity into the secondary market through the central bank to achieve credit transfer and liquidity release is very routine. Of course, China's problems may be different, serious analysis believes that this is more with the issuance of special treasury bonds, rather than quantitative easing and QE, etc., China's M2 exceeded 300 trillion in the early stage, has formed an epic liquidity pool. For most investors, too professional content means little to us, but from the perspective of actual allocation, the combination of relatively weak economy and loose liquidity will inevitably be good for the performance of bond funds. In fact, the first stop of the recent savings move was the bond market. Compared with the long-term incoming call of the stock market, the long-term bull pattern of the bond market is basically unshakable, and the average annualized return of some short- and medium-term bond varieties has reached 3-4%, which is good in the era of asset shortage
The performance of some companies is still the focus at the moment, and in the time window, companies with excellent annual reports and quarterly reports are particularly likely to generate excess returns in April. For example, the rabbit baby who once tested the daily limit today, high dividends, low valuation, strong layout, the market gave it a certain liquidity premium, which is not surprising. Of course, there are also some companies that belong to the annual report to release the negative, the performance of the water to the first quarter, Han's Laser as the first foreign capital to buy 30% of the position of the A-share advanced manufacturing company, last year's annual trend to send the head, the performance of thunder, but in the first quarter of this year, the performance to 9-1 billion, this kind of traditional digital circus, the capital market still likes it very much, first scare you, and then surprise you, no sugar will be trick-or-treated. Tasly also disclosed the first quarter results before and after the closing, and the company's revenue and profit data performance last year were difficult to be satisfactory, especially in the context of last year's general revenue growth rate of 10% in traditional Chinese medicine, the company only grew by 6%, and last year's chemical drugs and biological drugs have shrunk significantly. Judging from the data in the first quarter, Tasly's traditional Chinese medicine is still a single-digit growth (based on the reduction of the main influenza drugs, within the acceptable range), fortunately, chemical drugs have recovered after centralized procurement, objectively speaking, Tasly Danshen Dripping Pill may be worth 20 billion a single product, the naked eye can see that behind the undervaluation, it is not directly related to the arrogance and pattern of listed companies, waiting for the market to give it a new round of pricing
The chemical sector broke out today, since the first quarter, fluorine chemicals, staple fiber filament, titanium dioxide, tires, MDI, urea, cyclamate and other data have been crawling out of the pit in the past few years. After the Russian-Ukrainian war, Germany lost its energy advantage and passively lost blood, leaving only China to play the role of industry. Theoretically, these production capacities are not scarce in the world, but in the face of 50% of Chinese products on the market, other countries' scale advantages and competitive comparative advantages are much worse. What's more, since the middle of the epidemic, China has experienced nearly 40 months of inventory depletion. Don't look down on these companies, they make real money, and the specific stock targets need to be discovered by themselves
At the end of April, the market reserved program, the performance of listed companies to see the light died, and it has been intensively interpreted recently, Transsion Holdings, the king of mobile phones in Africa, made a big profit of 1.6 billion in the first quarter, but I'm sorry, after all, the stock price has risen by 50% this year, so it is inevitable to be struck by the lightning of happiness. Linglong Tire's performance in the first quarter exploded 3 times, and the stock price does not seem to be at a high level, but I'm sorry, the stock market is unreasonable, and a 5.8% decline today closes away. Others, such as Kede CNC, etc., the first quarter of production and sales are booming, as a small and beautiful example of the national machine tool industry, the blade is flying, cutting down 6.6% of the day's decline, fortunately, the overall valuation and stock price of science and technology companies are not cheap, and there are not many investors who have been tracking this kind of variety for a long time. The decline is certainly a short-term thing that people are not so happy to see, but if the performance of listed companies in the later period can continue to generate electricity, then the decline is often an opportunity that we should pay attention to, and to be honest: there is nothing more pleasant than a discount on the stock price of a good company