A-shares rose and fell back in early trading, and then fluctuated in a narrow range. Hong Kong stocks are relatively strong, and the Hang Seng Tech Index once rose more than 2%.
Specifically, the stock indexes of the two cities rose in early trading, and then fluctuated and fell, maintaining a narrow range of shocks during the session. As of the close, the Shanghai Composite Index fell 0.07% to 3,145.77 points, the Shenzhen Component Index fell 0.05% to 9,668.73 points, the ChiNext Index fell 0.26% to 1,855.6 points, and the Beijing Stock Exchange 50 Index rose 0.74%; The total turnover of the two cities was 824.6 billion yuan, a decrease of about 85 billion yuan from yesterday.
More than 3,400 shares in the market are red, the main line of the market is relatively scattered, home furnishing, textile and clothing, wine, automobile and other sectors are strong, the concept of online games is active, Tom Cat, Caesar Culture, Dasheng Culture, etc., Zhongqingbao rose 14%; AI, computing power concepts, etc., rose, Hongbo shares, Nanwei Software daily limit; The concept of humanoid robots rose, Shengtong shares rose by the limit, Yiheda and Dingzhi Technology rose by more than 5%; The automobile industry chain stocks are strong, and the daily limit of Zhongtong Bus and Ankai Bus is high; The concept of synthetic biology weakened, and Azure biology fell to the limit; In addition, Zhengdan shares, which resumed trading today, dived at the end of the day, and the stock rose more than 15% in early trading to a record high.
The concept of online games exploded
The concept of online games rose strongly today, as of the close, Tom Cat "20cm" daily limit, Zhongqingbao rose 14%, Zitian Technology rose nearly 12%, Dasheng Culture, Caesar Culture, Guohua Network Security, Zhongke Cloud Network, etc., Baotong Technology rose nearly 9%.
On the news side, Tencent WeGame's official Weibo announced on the 13th that the annual press conference "Game Night" will start at 8 pm on May 19. According to reports, this year's "Game Night" has prepared dozens of new works waiting to meet you; There will also be first-hand exclusive news such as test nodes, launch times, and interviews with producers. NetEase Games also announced on the same day that the 2024 NetEase Games 520 online conference will be held at 19:30 on May 20, and the games participating in the conference include "Sixteen Voices of Yanyun", "Egg Boy Party", "The Lord of the Rings: Discord" and so on.
Debang Securities pointed out that Tencent NetEase recently announced the test progress and finalization time of a number of its masterpieces. On May 9, "Sixteen Voices of Yanyun" announced that a new round of large-scale online testing will start in May, and the game has been confirmed to be launched on July 26. "The Shattered Land" announced that it will launch a new round of unlimited paid deletion tests on May 24. New games launched in May include: Octopath Traveler: Overlord of the Continent, The Lord of the Rings: Strife, Cartoon Farm, DNF Mobile Game, and Kulo Game Singing Tide. In May, the test products included NetEase's open-world SOC game "Seven Days World", Tencent's Rubik's Cube "One Piece: Top Ambition", Kuaishou's "Codename Nanxiangzi" and other products. In the future, we will continue to be optimistic about the opportunities brought by the release of game plate editions, the launch of new products, going overseas, and emotional repair.
Wanlian Securities said that in 2024, the game version number will continue to be issued, the head manufacturers will continue to launch high-quality popular new games, the overall market of Chinese games is expected to improve, the head products in overseas markets will perform well, and the revenue of China's self-developed games will grow steadily.
Stocks in the automotive industry chain are active
As of the close, Huayang Racing rose more than 11%, King Long Automobile, Zhongtong Bus, Ankai Bus and other daily limits, Great Wall Motors rose more than 8%, and Chunfeng Power rose nearly 7%. It is worth noting that Zhongtong Bus has been limited for two consecutive trading days.
In terms of industry, the latest data released by the Passenger Car Association shows that in April, the national passenger car production was 1.988 million, 18,000 higher than the historical high in the same period in 2018, a record high. The domestic retail penetration rate of new energy vehicles was 43.7%, an increase of 11.7 percentage points from 32% in the same period last year. Looking forward to the auto market in May, Cui Dongshu, secretary general of the passenger association, said that with the implementation of the trade-in policy, it will have a significant positive impact on the auto market, and it is expected that the retail sales of the auto market in May will be better than in April.
The agency said that the development of China's new energy vehicle industry has shifted from policy-driven to market-driven, with the penetration rate of new energy exceeding 30% in 2023 and 50% for the first time in the first half of April 2024, which is the first time that new energy vehicles have surpassed traditional fuel vehicles. Highly competitive new cars are intensively launched, domestic price wars continue, and overseas protectionism is on the rise. From the perspective of the competitive landscape, the market share of independent brands is expected to continue to expand, and the leading enterprises have a strong first-mover advantage. Integrated vertical integration will help OEMs grasp their core competitiveness and bargaining power, and reduce costs and increase efficiency. It is recommended to pay attention to enterprises with strong product strength, smooth overseas promotion and strong supply stability.
It is worth noting that at today's press conference of the Ministry of Foreign Affairs, a reporter asked what is China's response to the fact that US President Joe Biden will announce on Tuesday that he will impose tariffs on products from China, including Chinese electric vehicles, medical supplies and solar products.
In response, Foreign Ministry spokesman Wang Wenbin said that the specific situation can be learned from the competent authorities. China has always opposed the unilateral imposition of tariffs in violation of WTO rules, and China will take all necessary measures to safeguard its legitimate rights and interests.
4 times bull stocks dived at the end of the day
Zhengdan shares (300641), which resumed trading today, rose sharply intraday, once rising more than 15%, hitting a record high, but fell rapidly at the end of the session. As of the close, the stock fell 3.69% to 23 yuan, with a full-day turnover of 2.32 billion yuan and a turnover rate of 18.7%. It is worth noting that in the 17 trading days before the suspension (April 9 to May 6), the stock has risen by 439%.
In addition, Zhengdan convertible bonds (123106) also rose intraday, once rising more than 15%, and also dived at the end of the session, closing down about 3%.
The company pointed out in the announcement yesterday evening that the current production and operation situation is normal, and due to recent changes in market supply and demand, the market price of the main product trimellitic anhydride has risen significantly, and the company's performance in the first quarter of 2024 has increased significantly year-on-year, as detailed in the company's disclosure of the "First Quarter Report of 2024". However, the sustainability of product price fluctuations is uncertain, and if market supply increases or demand decreases in the future, there may be a risk that product prices will fall, which will adversely affect the company's performance.
The company has not directly received the announcement of the permanent shutdown of the trimellitic anhydride production unit announced by INEOS in the United States, so please pay attention to the investment risk.
The company also reminded that from April 9 to May 6, 2024, the cumulative increase in the price of the company's convertible bonds has reached 180.77%, and there have been two abnormal fluctuations and one serious abnormal fluctuation in convertible bond transactions. As of May 6, 2024, the closing price of "Zhengdan Convertible Bonds" is 317.689 yuan per bond, a premium of 217.69% over the par price. Investors are advised to pay attention to the current valuation risk of "Zhengdan Convertible Bonds".
Huayin International Holdings once rose by more than 200%
In terms of Hong Kong stocks, the Hang Seng Index rose nearly 1% in early trading and gradually fell back during the session; The Hang Seng Tech Index rose more than 2% at one point, and the gains narrowed in the afternoon. At the close, the Hang Seng Index fell 0.22% to 19,073.71 points, and the Hang Seng Tech Index rose 0.57% to 4,041.45 points. In terms of individual stocks, Bilibili and NIO rose more than 4%, WuXi Group and Xiaomi Group rose more than 3%; Xinyi Glass fell more than 9%.
In addition, Huayin International Holdings rose sharply after resuming trading in the afternoon, rising 217% at one point in the session and closing up about 126%. The company announced at noon today that it intends to resolve HK$253 million of debt by debt-to-equity swap. According to the announcement, on April 25, the company entered into a loan capitalization agreement with the subscriber, according to which the company conditionally agreed to allocate and issue to the subscriber and the subscriber conditionally agreed to subscribe for a total of 5.06 billion capitalized shares, at a capitalized price of HK$0.05 per capitalized share, with a total consideration of HK$253 million. The aggregate capitalization price of all Capitalized Shares payable by the Subscriber will be repaid by capitalising and setting off the Loan in full on an equal basis upon completion of the Loan Capitalization Agreement.
Oriental Selection rose 12.47% to HK$18.4, on the news side, Zhang Guofu, deputy general manager of BAIC Blue Valley, revealed that he has recently cooperated with Dong Yuhui's "Walking with Hui", and the current feedback is very good, and the in-depth cooperation between the two sides will be implemented in May.
Tencent Music rose nearly 8% to HK$59.2, with the latest market capitalization of HK$203.2 billion. According to the company's latest financial report, in the first quarter of 2024, the company's performance exceeded market expectations, of which the adjusted net profit was 1.81 billion yuan, a year-on-year increase of 23.9%, a record high in a single quarter; Online music service revenue increased by 43% to RMB5.01 billion, and online music subscription revenue increased by 39.2% year-on-year to RMB3.62 billion.
Editor-in-charge: Ye Shuyun
Proofreading: Gao Yuan
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