344 billion yuan! The "national team" made a move, and the A-share batch rose by 20%.

Securities Times E Company

2024-05-27 18:22Published on the official account of "E Company" under Guangdong Securities Times

Today, the A-share market has risen strongly, with important stock indexes such as the Shanghai Composite Index and the Science and Technology Innovation 50 rising by more than 1%. On the disk, lithography machines, virtual power plants, industry concepts, memory chips and other sectors were among the top gainers, while chicken, HJT batteries, ST, aquatic products and other sectors were among the top decliners.

Wind real-time monitoring data shows that Shenwan's electronics industry has received a net inflow of nearly 3.4 billion yuan of main funds today, and banks, public utilities, basic chemicals, non-ferrous metals, etc. have received a net inflow of more than 1 billion yuan. The net outflow of major funds in the food and beverage, building decoration, computer, agriculture, forestry, animal husbandry and fishery sectors exceeded 100 million yuan.

For the later trend, CICC said that the mainland's economic policies and reforms are expected to continue to increase, and drive investors' expectations to continue to repair. The recent phased adjustment of the A-share market does not mean that the recovery market since February is over, and the major indices are expected to resume their upward trend after the adjustment.

Huaan Securities believes that looking forward to June, the factor restricting the upward movement and speed of A-shares is that the slope expectation of economic recovery has not improved significantly under the known macro policy strength. On the one hand, the macro high-frequency data in May pointed to a slight improvement in economic momentum month-on-month, with external demand driving the production side to maintain a relatively high prosperity, consumption and inflation recovering moderately, and the decline in real estate sales narrowing. On the other hand, after the Politburo meeting, the implementation of policies accelerated, and the physical workload of infrastructure construction and the optimization of real estate regulation and control policies promoted the improvement of the problem of insufficient effective demand. Therefore, the current market environment is expected to gradually rise in the midst of volatility.

In terms of hot spots, the chip industry chain rose sharply across the board, of which the lithography machine led the rise, and the plate index was still slightly green in the morning, and rose unilaterally in the afternoon, soaring 5.43% as of the close, and the transaction hit a new high in two and a half months.

Lanying Equipment, Baolidi, Rongta Photosensitive, Yangfan New Materials, etc., have a 20% daily limit in batches, and nearly 20 shares such as Qiangqiang New Materials and Tongcheng New Materials have a daily limit or an increase of more than 10%.

Semiconductors, MCU chips, memory chips, and automotive chips also rose sharply in the afternoon. Broadcom Integration, Loongson Zhongke, Jingyi Equipment, etc., rose by more than 10%. Eighteen of the top 20 ETF gainers are related to the chip industry.

According to the enterprise investigation, the third phase of the National Integrated Circuit Industry Investment Fund Co., Ltd. has been registered and established on May 24, 2024. The registered capital is 344 billion yuan, which is more than the sum of the first phase (98.72 billion yuan) and the second phase (204.15 billion yuan).

According to shareholder information, there are 19 shareholders in the third phase of the big fund, of which the Ministry of Finance is its largest shareholder, holding 17.44% of the shares, and other shareholders include China Development Bank Capital, Shanghai Guosheng Group, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, Bank of Communications, Postal Savings Bank of China, Yizhuang Guotou, Kunpeng Capital, China Tobacco, etc.

On the afternoon of May 27, China Construction Bank announced that the company recently signed a sponsor agreement with 19 institutions including the Ministry of Finance, and intends to contribute 21.5 billion yuan to the third phase of the National Integrated Circuit Industry Investment Fund, with a shareholding ratio of 6.25%, which is expected to be paid in place within 10 years. The investment has been approved by the Board of Directors and does not need to be submitted to the General Meeting of Shareholders for approval, and has been approved by the State Administration of Financial Supervision and Administration. The registered capital of the fund is 344 billion yuan, aiming to guide social capital to support the entire integrated circuit industry chain. The source of investment funds is the company's own funds, which is of great significance to the development of the company's financial business.

Bank of China also announced on the Hong Kong Stock Exchange that it plans to invest 21.5 billion yuan in the third phase of the National Integrated Circuit Industry Investment Fund Co., Ltd., with a shareholding ratio of 6.25%, which is expected to be paid in place within 10 years from the date of registration of the fund.

The Postal Savings Bank announced that it plans to invest 8 billion yuan in the third phase of the National Integrated Circuit Industry Investment Fund Co., Ltd., with a shareholding ratio of 2.33%, which is expected to be paid in place within 10 years from the date of registration of the fund.

Huaxin Securities pointed out that the main investment direction of the first two phases of the national fund was concentrated in the field of equipment and materials, which laid a solid foundation for the initial development of the mainland chip industry. With the vigorous development of the digital economy and artificial intelligence, computing chips and memory chips will become key nodes in the industrial chain. Therefore, in addition to continuing the support for semiconductor equipment and materials, the third phase of the big fund is more likely to list HBM and other high value-added DRAM chips as key investment objects. It is recommended to pay attention to the HBM industry chain: Huahai Chengke, Hongchang Electronics, Novoray New Materials, Sanchao New Materials, Saiteng Co., Ltd., Huahai Qingke, China Micro Corporation, etc.

Power stocks also strengthened across the board today, with the concept of virtual power plants opening high and rising nearly 3%, and the transaction hit a record high. Hengshi Technology and Zhongzhi Technology both have a 20cm daily limit; On the basis of last Friday's daily limit, New China and Hong Kong have a one-word daily limit today; Guodian Nanzi also had a strong daily limit and hit a new high in 10 months.

The leading stock Yangtze River Power rose strongly again today, and its share price hit a record high for the third consecutive day. Driven by Yangtze Power, SDIC Power also hit a record high (resumption, the same below); Star Power hit a 13-year high since May 2011; Guiguan Power has hit a new high in the past 9 years since June 2015; Guodian Power, Zheneng Power, and Jidian Electric Co., Ltd. all hit multi-year highs today.

Shanxi Securities said that in the future, driven by the development of new productivity and the trend of electric energy substitution, the demand for electricity may be further increased. Photovoltaic manufacturing, AI data centers, and other industries are mostly new and high-energy-consuming industries. In the short term, the possibility of a sharp rebound in upstream fuel prices is weak, which is good for the cost side of the thermal power sector; In the long run, electricity prices may still rise, and with the continuous optimization of the capital structure, there is still room for improvement in the dividend ratio.

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