In the past two weeks, the market has continued to shrink at a low level, and under the influence of earnings expectations, the previously better state-owned banks have suffered significant adjustments this week. Domestic demand may still be weak in the third quarter, and the real estate chain and consumption are still the main factors restricting domestic demand. Long-term style switching needs to be patient and wait for more signals on the right, and high-dividend assets with monopoly and scarcity are expected to be revaluation.
Recently, a number of listed pig breeding companies in the A-share market have disclosed their sales data in August. During the reporting period, the sales revenue of Muyuan Co., Ltd., Wen's Co., Ltd. and other companies continued the growth trend in July and achieved month-on-month growth. Benefiting from the rise in pork prices, the prosperity of the pig breeding industry continued to improve in August. It is expected that under the stocking demand of the traditional peak season of the Mid-Autumn Festival and the National Day, the number of live pigs slaughtered is expected to usher in a peak period. Riding the bull and watching the bear believes that the pork industry is further cleared, pork prices have obviously risen this year, and the overall performance of the industry in the second half of the year is expected to be better than that in the first half of the year.
Driven by policies, the mainland agricultural machinery industry has made up for shortcomings and elongated boards, and the market scale has been expanding. In the face of the continuous changes in the needs of the industry, A-share agricultural machinery companies have increased their efforts in scientific and technological innovation, and transformed and upgraded in the direction of large-scale, electrification and intelligence. With the implementation of a new round of agricultural machinery subsidy policies in 2024, the demand for agricultural machinery purchase is expected to be further stimulated. Riding the bull and watching the bear found that this year, the country's policy on agriculture is more favorable, especially the support of agriculture and the economic situation of farmers are more concerned, with the vigorous development of agricultural machinery, can further solve the problem of lack of manpower, which is also a large aspect of the advantages of developed countries.
In the A-share market, AI glasses concept stocks began to be speculated in mid-August, and Dr. Glasses rose nearly 150% in five trading days. The estimated sales of Ray-Ban Meta glasses overseas have reached 2 million pairs, becoming the most watched AI hardware this year, and the AI glasses craze has spread directly from overseas to China. For the new category of AI glasses, the joint venture model between technology companies and professional glasses fitting terminals is a key element to promote its rapid development. Riding the bull and watching the bear believes that the development of the AI industry chain will drive the hot sale of AI-related products, which will also bring certain investment returns to related enterprises, and even become the absolute advantage of the industry oligopoly.
As the Mid-Autumn Festival holiday is approaching and short-distance travel is heating up, many outdoor products companies attach great importance to the time window of short-distance Mid-Autumn Festival travel, and launch new products in sports suits, backpack tents, power supply devices, outdoor cookware and other subdivisions to dig deep into the market demand brought by short-distance travel. With the rise of domestic electric vehicles, outdoor products based on automotive lithium batteries have been developed and applied, which has improved the experience of consumers in short-distance travel. With the advent of the Mid-Autumn Festival and the National Day, it is believed that with the recovery of the short-distance travel market, the demand for domestic outdoor products will also grow, and we can begin to focus on investment opportunities in tourism, hotels, catering, outdoor appliances and other sectors.
The Shanghai Composite Index has not rebounded significantly from 2,800 to 2,700 points, and the way the main funds protect the disk has changed greatly since the beginning of this year. This week, the valuation level of all A-shares fell from last week, and the PE (TTM) was 12.6, down 0.3 from last week, and was in the 15.3% quantile of the historical valuation level. Most of the valuations of the sectors fell, among them, real estate, power equipment, and media were among the top gainers, while agriculture, forestry, animal husbandry and fishery, electronics and social services were among the top decliners.
The ChiNext index has been dragged down by the main board, and there has been no continuous upward trend this week. The disclosure of A-share interim results has ended, and investors are looking forward to the increase in stable growth policies in the current economic and market environment. The market shows more characteristics of the bottom, but the confidence repair still needs more positive support. Recently, the A-share market has continued to be weak, the adjustment of major broad-based indices has increased, the market as a whole lacks a main line, and the strong sectors in the early stage have made up for the decline.