Evaluation of Hong Kong stocks

Futu News on November 15 | the Hang Seng Index rose 0.25% to 25390 points in late trading, the National Index fell 0.32% to 9085 points, and the Hang Seng Technology Index rose 0.54% to 6601 points.

As of the close, Hong Kong stocks rose 861, fell 1027, and closed flat at 945.

On the plate side, large-scale technology stocksUps and downs vary. JD.com and Bilibili Inc. are up nearly 2%, Tencent and NetEase, Inc are up more than 1%, BABA and Meituan are down slightly, and Kuaishou Technology is down more than 1%.

Inner house stockThe decline widened in the afternoon, with Sunac China and China Olympic Garden down more than 11%, R & F down nearly 10%, Country Garden Holdings and China Vanke down nearly 5%.

Consumer Electronics UnitContinue to strengthen, Skyworth Group rose more than 20%, China Huaxing rose more than 9%, China Huaxing rose more than 6%, and Agile Holdings rose more than 3%.

Biomedical Class B sharesStrong rise, Tengshengbo medicine rose by more than 35%, minimally invasive robots by more than 10%, Chuangsheng Group and Nuohui Health by more than 9%.

Electric power stockFell, China Power fell by more than 6%, Huaneng International Power and China Resources Power Holdings fell by more than 1%.

Individual stocks$Tengshengbo Medicine-B (02137.HK) $It soared by more than 35%. The neutralizing antibody (novel coronavirus antibody drug) combined therapy jointly developed by the company with Tsinghua University and the third people's Hospital of Shenzhen is expected to be approved and put on the market by the end of December.

$Sunac China (01918.HK) $It fell by more than 11%. It is proposed to raise US $942 million net for the placement of Sunac Services shares and is supported by an interest-free loan of US $450 million from the chairman of the board of directors.

$Ruili Medical (02135.HK) $It rose by more than 36% in late trading. Tmall's medical orders on Singles Day increased nearly 7 times month-on-month, and Ruili Medical Beauty firmly ranked in the top three of medical institutions.

$vobile group (03738.HK) $With a cumulative increase of 15% in two days, the annual income will far exceed the forecast of the guidelines.

$Deqi Medicine-B (06996.HK) $With an increase of more than 5%, the State Drug Administration approved ATG-008 combined with ATG-010 for phase IB study in patients with diffuse large B-cell lymphoma.

$via creature (01873.HK) $It rose by more than 6% and gained 13.736 million shares, with a total investment of about HK $62.8 million.

Shanghai Fudan (01385.HK) $Increased by more than 5%, the agency said that the proportion of capital expenditure in mature processes is less than 1x6, and the lack of core will continue.

$Skyworth Group (00751.HK) $The turnover rose by more than 20%, with a turnover of more than 700 million Hong Kong dollars, up nearly 170% since October 27, when the company announced that it had cut into the photovoltaic field, and from January to September this year, photovoltaic business revenue was 2.19 billion yuan, an increase of 27275% over the same period last year.

Poly Xiexin Energy (03800.HK) $It rose by more than 5%, up more than 22% in the past three days, after it was announced that its first 20,000-ton granular silicon project had been officially put into production. HSBC upgraded its rating to buy, with a target price of HK $3.4.

Hong Kong stock exchange fund

As for the Hong Kong Stock Connect, there was a net outflow of HK $1.529 billion from Hong Kong Stock Connect (southbound) today.

Today's turnover of Hong Kong shares TOP20

Message surface

China Automobile Association: in October, the export of automobile enterprises increased 1.1 times compared with the same period last year, and the contribution of the export growth of new energy vehicles was 43.3%.According to the statistical analysis of the China Association of Automobile Manufacturers, in October 2021, automobile enterprises exported 231000 vehicles, an increase of 33.8% from the previous month, an increase of 1.1% over the same period last year, setting a new record, of which the export growth of new energy vehicles accounted for 43.3%. From January to October in 2021, automobile enterprises exported 1.594 million vehicles, an increase of 1.2 times over the same period last year.

Turnover on the first day of trading on the Beijing Stock Exchange was 9.573 billion yuan.On the first trading day of the Beijing Stock Exchange, 81 stocks of the Northern Stock Exchange traded a total of 9.573 billion yuan. By the end of the day, the average increase of 10 new shares was 199.80% higher than the issue price, up 493.67%, N Zhisheng, and N Jingsi were all up more than 200%.

The Bureau of Statistics: China generated 639.3 billion kilowatt-hours of electricity in October, up 3 percent from a year earlier.National Bureau of Statistics: electricity production keeps growing. In October, power generation was 639.3 billion kilowatt hours, an increase of 3.0 percent over the same period last year, 1.9 percentage points lower than the previous month, 7.7 percent higher than the same period in 2019, an average growth rate of 3.8 percent in two years, and an average of 20.6 billion kilowatt hours per day. From January to October, power generation was 6.7176 trillion kilowatt hours, an increase of 10.0 per cent over the same period last year, an increase of 11.5 per cent over the same period in 2019, and an average growth of 5.6 per cent over the same period in 2019.

Institutional viewpoint

Credit Suisse: downgrade$Semiconductor Manufacturing International Corporation (00981.HK) $The target price is HK $24.7, with a neutral rating.Credit Suisse reported that SMIC's sales and profit margins in the third quarter were higher than expected. Sales grew 5.3 per cent quarter-on-quarter, while management was guided by a quarter-on-quarter growth of 2 per cent to 4 per cent. Net profit was $321 million, higher than the bank and market forecasts of $311 million and $279 million. Credit Suisse expects SMIC to continue to maintain strong momentum in the fourth quarter, with sales growing by 11% to 13% on a quarter-on-quarter basis, with gross profit margin rising by 90 basis points to 33% to 35% due to continued full-load production and higher average selling prices. In addition, the bank expects SMIC's capital expenditure to remain positive. Credit Suisse raised SMIC's earnings per share forecasts for fiscal 2021 and 2022 to Rmb1.49 and Rmb1.58 respectively, maintaining a neutral rating and lowering its target price to HK $24.7 from HK $32.60, as localization advantages and operational improvements were offset by physical inventory impact and inventory growth concerns.

UBS:$Man Wah (01999.HK) $The results beat expectations, raising the target price slightly to HK $22.50.UBS reported that Man Wah's performance in the first half was better than expected and its income exceeded the bank's and market expectations by 5 per cent and 10 per cent, respectively. The bank said that despite the impact of the epidemic, the results were a good indication of strong demand in overseas markets, believed that the most pregnant export situation had passed, and that the group's export business was expected to rebound as the epidemic improved and shipping normalised. The bank gave the group a buy rating, raising its target price slightly to HK $22.50 from HK $22.20, reflecting an expected increase of 3-6 per cent in its earnings forecast for the 2022-24 fiscal year. The bank expects Man Wah's Chinese market revenue to grow at a compound annual rate of 32 per cent in the 2021-24 fiscal year and decouple from the potential downward trend in property completion, thanks to rising demand for replacement or upgrades and share growth. In terms of profit margins, net margins are expected to expand soon as raw materials and transportation costs fall.

Leon: health$Ping An Healthcare And Technology (01833.HK) $Rated to outperform the market, the target price was reduced to HK $40.According to a research report issued by Lyon, Ping An Healthcare And Technology updated its annual guidelines on Investor Day in 2021, and the group turned to Strategy 2.0, including deep cuts in membership fees and the elimination of free consulting, which will lead to a slowdown in revenue and great short-term pain. The next focus will be the company's progress in achieving the new medium-term goals, which will be used to assess the success of the strategy. The bank downgraded Ping An Healthcare And Technology's profit forecasts for fiscal years 2021 and 2022 to reflect adverse factors, cutting its target price from HK $98 to HK $40 and its rating from buying to outperforming the market.

Goldman Sachs Group: inventory reduction may stimulate copper prices to exceed 12000 US dollars.Goldman Sachs Group said copper inventories were at a "very low level", which could lead to a surge in copper prices in recent months, as in aluminium and some energy markets. Copper prices are expected to average nearly $12000 a tonne next year and are likely to soar to higher levels during that period, according to reports by Goldman Sachs Group Nicholas Snowdon and others. A further 50, 000 tonnes drop in LME copper stocks could push copper prices to a high of $13000 a tonne.

Morgan Stanley: raise the Hang Seng Index target to 25000 by the end of next year, the outlook is cautious.Morgan Stanley said in his 2022 outlook report on China's capital market that there is limited room for growth by the end of next year to maintain a relatively cautious attitude and "keep pace with the market" rating of Chinese stocks. The forecast for the Hang Seng Index's target for the end of 2022 is raised from 24400 to 25000, equivalent to 11.1 times the forecast price-to-earnings ratio, and earnings per share are expected to rise 10 per cent year on year next year.