Summary of the highlights of the four major securities reports: June 28

Xinhua Finance and Economics, Beijing, June 28 -- The highlights of the four major securities reports are summarized as follows:

China Securities Journal

• Nuggets "Event Economy" Made in China Accelerates "Going to Sea"

"Since last year, we have stepped up our efforts to develop new products and explore new markets, adding a new beach racket production line. Since the beginning of this year, the production line has continued to run at full capacity, and the export order volume has reached 97.5 million yuan so far, a year-on-year increase of 30.9%. Fan Ping, administrative director of Beihai Longyi Sports Equipment Co., Ltd., said. In the company's production workshop, production lines are constantly producing beach rackets, hockey sticks and other sporting goods. The European Football Championship is in full swing, the Paris 2024 Olympic Games are just around the corner, and there are several professional leagues on the horizon...... 2024 is the "big year of sports", and China's manufacturing industry will seize the opportunity, speed up "going to sea" with the help of cross-border e-commerce and other channels, and strive to nugget the "event economy".

•Incremental funds actively enter the market: The capital level of the A-share market has gradually improved

As of June 27, the Shanghai Composite Index, the Shenzhen Component Index and the ChiNext Index have fallen by 0.98%, 7.09% and 9.95% respectively. Under the adjustment of the market, since the beginning of this year, the market liquidity has been loose, and incremental funds from northbound funds, ETFs, and buybacks of listed companies have actively entered the market. According to the data, as of June 26, the cumulative net inflow of northbound funds during the year was 44.587 billion yuan, the funds flowing into the market through ETFs exceeded 390 billion yuan, and the repurchase amount of listed companies reached 97.652 billion yuan. Analysts believe that since the beginning of the year, the marginal improvement of A-share capital has improved, and the scale of capital supply in the second half of the year is expected to improve slightly compared with the first half of the year. Among them, the scale of insurance funds entering the market may expand with the improvement of premium income, and foreign capital is expected to have a small net inflow.

•The sunscreen clothing track is hot, and listed companies have increased their layout

"It is the peak sales season for sunscreen clothing, and the company is making every effort to achieve the overall budget target at the beginning of the year." In response to a question from reporters at a media conference held on June 27, Bosideng's management said that overall, the sales of sunscreen clothing this year showed a more positive performance compared with last year. At present, it is summer, sunscreen clothing is selling well, and related tracks have also become the focus of attention in the capital market. Bosideng, Pathfinder and many other listed companies have increased their layout of the track. Industry insiders expect that with the improvement of people's awareness of sunscreen, China's sunscreen clothing market will show a steady growth trend.

Shanghai Securities News

•Dividend style is favored by funds again Many bank stocks hit new highs this year

On the 27th, bank stocks bucked the trend and strengthened, as of the close, Shanghai Rural Commercial Bank rose more than 4%, Industrial and Commercial Bank of China, Bank of Nanjing, Bank of Communications, Chongqing Rural Commercial Bank and other stocks all hit a new high in the year, and Agricultural Bank of China approached a record high. Market participants believe that under the improvement of economic expectations, the resonance repair of bank fundamentals and valuations, coupled with the high dividend yield, stable dividend ratio of the banking sector and the current "asset shortage" in the stock and bond market, are attractive for capital allocation. CITIC Securities believes that there seems to be a deviation between the logic of dividend assets and the logic of cyclical growth, but the underlying logic is highly unified, that is, the high certainty of dividend returns needs more fundamental support. The signal of the bottom of the fundamental driving factors of bank stocks began to appear, and at the same time, the certainty of the dividend income of bank stocks was consolidated.

•Tapping the potential of 5G-A The three major operators have laid out the low-altitude economy

The Mobile World Congress 2024 is being held in Shanghai, and as a "weather vane" event in the field of global mobile communications, the application of 5G-A (5G-Advanced, the evolution and enhanced version of 5G network) in specific scenarios and industries has become the focus of heated discussions among participants. China Mobile and other three major communication operators have announced that they will make efforts to deploy low-altitude economy and other industries, in order to further tap the commercial potential of 5G-A and find new business growth points.

•Shanghai company's semi-annual report scheduled disclosure schedule was released, and Kangxin New Materials won the first place

On June 27, the Shanghai Stock Exchange released the scheduled disclosure schedule for the 2024 semi-annual report of Shanghai companies, and Kangxin New Materials, a company on the main board of the Shanghai Stock Exchange, took the lead and will open the disclosure of the Shanghai semi-annual report on July 17. Tianma Technology followed closely behind, with a disclosure date of July 23. The "lead" of the Science and Technology Innovation Board is Zhimingda, which will release its semi-annual report on July 25. In addition, companies such as Haitong Development, Bomeike, and Shuijingfang are at the top of the appointment schedule. Judging from the first quarter of 2024, the performance of Kangxin New Materials and Zhimingda is not ideal, and it is expected that their semi-annual report performance can make a "turnaround".

Securities Times

•Guangdong launched the first hydrogen energy high-speed project, which is good for the hydrogen energy industry chain

Recently, the Guangdong Provincial Development and Reform Commission issued the "Implementation Plan for the Guangzhan Hydrogen Energy Expressway Demonstration Project in Guangdong Province", proposing that by the end of 2024, a hydrogen energy cold chain logistics network along the Guangzhan Expressway and the Pearl River Delta region will be initially formed. This is the first hydrogen energy high-speed project launched by Guangdong Province and the first provincial-level hydrogen energy high-speed implementation plan in China, which is expected to further promote the construction of fuel cell vehicle demonstration city clusters in Guangdong Province and further promote the development of hydrogen energy industry. According to the consensus forecast of institutions, the average net profit growth rate of 31 concept stocks in 3 years exceeded 30%. Among them, the three-year net profit growth rate of Cowell, China Dynamics, GEM and other stocks exceeded 30%, and the three-year net profit growth rate of stocks such as Yishitong, Akeli and Donghua Energy exceeded 50%.

•The price of memory chips continues to rise, and the agency predicts that the performance of 11 shares will double

Following the price increase in the second quarter, storage giant Samsung Electronics announced plans to raise the price of major memory chip products such as dynamic random access memory (DRAM) and NAND flash (NAND Flash) by 15% to 20% in the third quarter. At present, Samsung Electronics has notified major customers such as Dell Technologies and HP of the price increase plan. Judging from the 2024 performance predicted by institutions, the performance of 18 concept stocks rated by more than 5 institutions is expected to increase, of which 11 stocks such as Demingli, GigaDevice, Puran Shares, and Tongfu Microelectronics are expected to increase by more than 100% year-on-year.

•M&A and reorganization of small and medium-sized banks, reducing quantity and improving quality, and deepening financial supply-side reform

Recently, small and medium-sized banks have been mergers and reorganizations. The reporter found that this actually continues the overall trend of "reduction" since 2018, and it is also a concrete embodiment of the current regulatory authorities to promote the reform of small and medium-sized banks. In the interview, the reporter learned that the regulatory practice still adheres to the combination of "treating the disease" and "preventing the disease", promoting risk disposal at the same time, strengthening risk early warning, and laying the foundation for the formation of an early correction mechanism with "hard constraints". In addition, the current rural financial market is the "main battlefield" for promoting the reform of small and medium-sized banks, and it is necessary to further improve the service quality and efficiency of the rural financial system after promoting risk resolution. The interviewed experts believe that the ongoing mergers and acquisitions are conducive to enhancing the sustainable development capacity of rural small and medium-sized financial institutions, and it is necessary to promote the improvement of a multi-level and sustainable rural financial service system through external measures such as broadening capital replenishment channels, differentiated supervision, and optimizing the senior management team.

Securities Daily

• In May, the profit of the steel industry turned positive, and steel enterprises accelerated the adjustment of product structure

On June 27, the National Bureau of Statistics released data showing that in the first five months of this year, the ferrous metal smelting and rolling processing industry achieved operating income of 3,289.12 billion yuan, a year-on-year decrease of 3.3%; operating costs were 3,191.52 billion yuan, down 2.9% year-on-year; The loss was 12.72 billion yuan. Among them, a profit of 9.50 billion yuan was achieved in May, reversing the net loss of the steel industry for many months. It is worth noting that the structural differentiation of steel sub-categories became more and more obvious in May. From the perspective of the supply side, the steel bars and pipes in the construction steel category showed a year-on-year decline, while the wire rod and plate varieties in the construction steel category showed a significant year-on-year upward trend. From the perspective of demand, the steel used in manufacturing industries such as containers, automobiles and home appliances has increased significantly, and the demand for steel used in construction machinery, which is closely related to real estate and infrastructure, has also shown a significant upward trend.

•The first batch of three Hong Kong-listed central enterprise dividend theme funds were established

On June 27, the first batch of three Hong Kong-listed central enterprise dividend theme funds simultaneously issued an announcement on the effective date of the fund contract, which indicates that the funds were officially established and operated. It is reported that the total number of effective subscriptions raised by the three Hong Kong-listed central enterprise dividend theme funds exceeded 4,000, and the total amount of funds raised reached 3.4 billion yuan. The three Hong Kong central enterprise dividend theme funds are the Guoxin Hong Kong Stock Connect Central Enterprises Dividend Index, which focuses on the energy and communication sectors, reflects the distinctive characteristics of the national economy "ballast stone", and is different from the current mainstream dividend index in the market with high allocation to the financial sector. In the view of the institution, it is the right time to invest in the Guoxingang Stock Connect Central Enterprise Dividend Index.

• Demand-pull superimposed on supply reduction Vitamin prices have risen significantly

Recently, vitamin prices have continued to recover. Baichuan Yingfu data shows that on June 24, the average market price of vitamin D3 was 78 yuan/kg, an increase of 11.43% from June 21. "On June 26, vitamin D3 manufacturers continued to stop reporting, and the bullish sentiment in the dealer market was still strong. At present, the price of the dealer market is relatively chaotic, but the overall bullish sentiment for the later market is high. Baichuan Yingfu related analysts said. Vitamin prices rose, in addition to the pull of the demand side, the impact of the supply side is not small, it is understood that due to the reduction of production and production of some manufacturers to stop repairs, vitamin manufacturers are more willing to raise prices.

Editor: Wang Yuanyuan

Statement: Xinhua Finance is a national financial information platform undertaken by Xinhua News Agency. In any case, the information published on this platform does not constitute investment advice. If you have any questions, please contact customer service: 400-6123115