On May 13, the three major stock indexes continued to adjust in the afternoon, with the Shanghai Composite Index closing down 0.21% and the Innovation Index closing down 0.95%. In terms of sectors, the utilities direction was active throughout the day. The gas sector bucked the trend and went higher, Hongtong Gas closed the board, and Kaitian Gas rose 8%; The railway rail transit and shipping sectors are strong, Lei Erwei 20cm daily limit, Keanda, Kangni Electromechanical (rights protection) touched the daily limit, Ningbo Ocean Shipping, Phoenix Shipping afternoon daily limit; The power sector is strong, Star Power, Leshan Power intraday limit, Gansu Energy, Xichang Power daily limit; The banking sector fluctuated upward, led by Qilu Bank, which rose 5%. In terms of decline, the concept of spatio-temporal big data weakened, and Dengyun shares fell to the limit; The game sector fluctuated lower, with Xinyuan Technology (rights protection) falling more than 8% to lead the decline; The concept of low-altitude economy continued to pull back, and Xin'an Century fell by more than 10%; The humanoid robot sector was weak and volatile, and Chaojie shares fell 7% to the top of the decline. Overall, individual stocks showed a general downward trend, with more than 4,100 stocks falling.
On the disk, the gas, shipping, and power sectors were among the top gainers, while the big data, brain-computer interface, and satellite navigation sectors were among the top decliners.
Hot Sections:
1. Public utilities
Hongtong Gas, Kaitian Gas, Leierwei, Gansu Energy and other stocks are active.
On the news side, recent public utilities price increase news frequently, following the recent increase in water, electricity and gas prices in many places in China, Wuhan-Guangzhou high-speed railway, Shanghai-Hangzhou passenger dedication, Shanghai-Kunming passenger dedication, Hangzhou-Ningbo passenger dedicated 4 high-speed rail fares will open a price increase window in June, an increase of about 19%-20%.
Zheshang Securities believes that behind the price increase of public utilities and high-speed rail, market inflation expectations may increase, the imagination space for interest rates to decline will narrow, and the price elasticity of the industry corresponding to dividend assets is relatively small, and the price increase logic may become a new support for dividend assets beyond "high dividends".
2. Pork
Guanghong Holdings, Shennong Group, Haid Group, Tianyu Ecology and other stocks strengthened.
The data shows that the price of live pigs has remained at 15 yuan/kg since a slight rebound in March, while the price of piglets fluctuated at a high level of about 45 yuan/kg.
Founder Securities pointed out that from the April feed data year-on-year decline again, confirming the results of the early production capacity, the next supply trend downward, pig price trend upward or will occur. According to the data of Yongyi Consulting, the average weight of commercial pigs slaughtered and the inventory rate of frozen products have gradually declined recently, and the consumption of the supply side may provide assistance for the rise in pig prices in the later period. Pig prices may rise in a slow bull trend. Whether it is the pig price in the early stage of weight reduction and selling pressure does not fall, or the recent sudden jump, reflecting the pig supply and demand fundamentals are gradually easing, the future pig price will trend up. In the absence of extreme sentiment, pig prices in May and June will show a slow upward trend, at the end of May is expected to rise to nearly 16 yuan / kg, continue to rise in June, and usher in a significant increase in the third quarter.
Message Side:
1. [Ruifengda's new progress in "running away": the stocks invested in the New Third Board began to self-examine] The "running away" incident of the actual controller of private equity continues to ferment. On May 13, a number of NEEQ stocks invested by Ruifengda announced the suspension of trading. According to the announcement, the company has conducted a preliminary verification of the negative news of the shareholder Ruifengda's related private equity funds, and the company intends to verify the above matters in combination with the substantial changes in the stock price in the early stage.
2. [TechInsights: Global tablet shipments in Q1 2024 will drop by 3% year-on-year] TechInsights released data that driven by the strong performance of Android tablet manufacturers and local Chinese brands, the global tablet market shipments will only decline by 3% year-on-year in Q1 2024. Apple's underperforming iPad continues to hinder the full market recovery, but we believe pent-up demand for new models will drive growth in the tablet market by mid-2024. With Samsung beating expectations and Lenovo and Xiaomi delivering strong growth in the quarter, the Android tablet market share reached 52%, the highest level in two years.
3. [Anhui: Increase support for the pilot construction of state-owned forest farms in terms of policies, funds, and technologies] Recently, the "Anhui Provincial Forestry Bureau to Promote the Pilot Construction of National State-owned Forest Farms" was issued. The plan requires all relevant departments to cooperate closely and increase support for the pilot construction of state-owned forest farms in terms of policies, funds and technologies. The municipal forestry bureau should organize the pilot state-owned forest farms to prepare the implementation plan and supervise the implementation in strict accordance with the requirements, timely summarize and publicize the innovative practices, experience and achievements of the pilot construction, and give full play to the pilot effect.
4. [Xicheng District, Beijing is about to release a document to promote green and low-carbon, focusing on distributed photovoltaic, building energy-saving renovation and other directions] The reporter learned from the opening ceremony of the Energy Conservation Publicity Week in Xicheng District, Beijing, that in order to promote the rapid transformation of the energy structure, Xicheng District is improving the energy conservation and carbon reduction policy system, and will soon release several measures to promote green, low-carbon and high-quality development in Xicheng District. The policy focuses on 13 directions, such as distributed photovoltaic, building energy-saving renovation, purchase and use of green electricity, and carbon neutrality certification, to help enterprises clarify the idea of green and healthy development, strengthen policy support for enterprises' energy conservation and carbon reduction work, and help achieve a win-win development of socio-economic and ecological construction.
Institutional Perspectives:
China Galaxy Securities Research Report said that under the triple logic deduction of equipment renewal + passenger flow recovery + overhaul cycle, the rail transit industry will usher in a new round of prosperity. According to the pace of bidding in previous years, in the second half of the year, China Railway Group will also carry out 1-2 new EMU new car and advanced repair procurement, and there is still an expected gap in railway equipment.
CITIC Securities pointed out that the macro policy environment continues to improve, many positive factors are accumulating, all kinds of funds rush to promote the recent comprehensive repair of China's assets, optimism is budding, the market has returned to normal, it is recommended to dilute the game, and focus on the three main lines of excellent growth, low volatility dividends and active themes. First of all, from the perspective of the recent intensive positive factors, first, the tone of the real estate policy has changed significantly, and the dilemma of the industrial chain is expected to be reversed; Second, the market has entered a performance vacuum period in the short term, and the performance in the first quarter is expected to be the low point of the whole year; Third, some industry policies have begun to focus on controlling production and ensuring prices, improving the competitive landscape and corporate profitability; Fourth, the logic of going overseas has been widely recognized by the market, opening the growth and valuation ceiling of traditional industries. Secondly, from the perspective of the incremental capital structure of the market, the rapid increase of private equity positions and the intensive inflow of northbound trading funds have brought increments to A-shares, and the continuous inflow of southbound funds and the rebalancing of foreign investment in the Asia-Pacific region have accelerated the development of the Hong Kong stock market. Finally, from the perspective of the market ecology, investors have come out of the atmosphere of excessive caution, and the normalization of IPOs also marks a return to normalcy in the market.