Hong Kong Quick Watch

Fortune News on January 11 | Hong Kong stocks were volatile, with the three major indices falling sharply in the afternoon and rebounding again in late trading. By the close, the Hang Seng Index was down 0.03%, the National Index was up 0.04%, and the Hang Seng Technology Index was down 0.1%.

By the end of the day, Hong Kong stocks were up 814, down 1065, to close flat.

In terms of the plate, the trend of large-scale technology stocks is divided.Kuaishou Technology rose by more than 3%, JD.com and Tencent by more than 2%, Baidu, Inc. by more than 3%, XIAOMI by nearly 2% and BABA by more than 1%.

Inner housing stocks continue to reboundTime China Holdings rose nearly 6%, Baolong Real Estate and Rongxin China rose more than 4%, Metro Development and China Overseas Land & Investment rose more than 3%, Xuhui Holdings and Sunac China rose more than 1%.

Property management stocks strengthen againElegant living service and Hejing leisurely life rose by nearly 7%, Country Garden Services Holdings by 4%, Xuhui Yongsheng service by nearly 4%, excellent business service and Greentown management service by more than 3%.

Building materials stocks continue to riseChina Resources cement and Pujiang International rose by more than 4%, China United Plastics by more than 3%, Asian cement by nearly 3%, Anhui Conch Cement and China National Building Material by nearly 2%.

Pork concept stocks plummeted，Cofco Jia Kang fell nearly 7 per cent, Wilson International fell nearly 6 per cent, and WH Group Limited and Yurun Foods fell about 3 per cent.

In other respects, steel and metal stocks and rare earth concept stocks are active, while automobile stocks, online education stocks and sporting goods stocks are depressed throughout the day.

Individual stocks$Wuxi Apptec (02359.HK) $Up more than 5%, homologous$Wuxi Biologics (02269.HK) $It is up nearly 6%, and the vice chairman expects turnover and profit growth to be further higher than last year.

$Shimao Group (00813.HK) $It closed up 0.54% at HK $5.63. According to the media: Shimao is considering the transfer of hotels and other commercial assets, and small cooperative projects will be dealt with on a case-by-case basis.

China Resources cement Holdings (01313.HK) $A rise of more than 4% led cement stocks, and the construction of major projects in many places began at the beginning of the new year in 2022.

$Lijin Technology (00558.HK) $Rebounded more than 10%, the mechanism is optimistic that the integrated die-casting process to pull the demand for super-large die-casting machines.

$Aluminum Corporation Of China Ltd (02600.HK) $Continued rebound rose more than 5.5%, the agency said aluminum prices may continue to rise.

$China Resources Power Holdings (00836.HK) $A 5% rise led to an increase in the green power concept, and UBS reiterated its positive view of renewable energy operators.

$VANOV HOLDINGS (02260.HK) $It rose 0.82% on the first day of listing, and the company is mainly engaged in the design, manufacture and sales of papermaking blankets.

$Angelalign Technology Inc. (06699.HK) $Down more than 5% in the afternoon, Credit Suisse said it faced a double whammy of fundamentals and cash flow.

$Great Wall Motor (02333.HK) $Down more than 4% in the afternoon, Daiwa expects raw material prices to rise, increase costs, lower target prices and net profit forecasts.

$Yiwei Group (03893.HK) $Flash collapse plummeted by more than 83%, and the original controller reduced more than 48% of the company's total shares.

Hong Kong stock exchange fund

As for Hong Kong Stock Connect, there was a net inflow of HK $1.778 billion from Hong Kong Stock Connect (southbound) today.

Today's turnover of Hong Kong shares TOP20

Message surface

The Ministry of Housing and Construction: increase policy support for finance, land and public services, and expand the supply of indemnificatory rental housing.Pan Wei, head of the Housing Security Department of the Ministry of Housing and Urban-Rural Development, said that during the 14th five-year Plan period, 40 key cities initially planned to add 6.5 million units (rooms), which is expected to help 13 million new citizens and young people alleviate housing difficulties. At the same time, we will continue to ensure public rental housing, develop co-owned housing in line with local conditions, and steadily promote the transformation of shantytowns. In view of the housing improvement needs of residents in old urban areas, we should innovate ways of financial support and speed up the formation of a policy mechanism to promote the transformation of old urban areas. During the 14th five-year Plan period, the transformation of about 219000 old urban residential areas built before the end of 2000 will be basically completed.

Sensor Tower:2021 has eight mobile games with global revenue of more than $1 billion a year.According to the data, Tencent's "PUBG Mobile" (merging "Game for Peace" income) and "Arena of Valor" both earned more than US $2.8 billion in 2021, ranking first and second on the global best-selling list of mobile games, up 9% and 14.7% respectively from the same period last year. The mobile end of "original God" ranked third with $1.8 billion in revenue. Revenue from "Roblox" mobile and Moon Active "Coin Master" both exceeded $1.3 billion, up 20.3% and 13.8% year-on-year, respectively, ranking fourth and fifth. Niantic "Pok é mon GO", King "Candy Crush Saga" and Garena "Free Fire" ranked 6th, 7th and 8th, respectively. For comparison, only five mobile games reached a milestone of $1 billion in annual revenue in 2020, compared with three in 2019 and 2018 respectively.

Guo Mingyi: Apple's Yuanyu headwear device has been ahead of competitors' products for about 2mi for 3 years.Guo Mingyi, an analyst at Tianfeng International, said in a report that each Apple Inc AR/MR headset will be equipped with dual CPU produced by 4nm and 5nm, and the dual CPU will use ABF board. CPU and ABF carrier boards are currently exclusively developed by Taiwan Semiconductor Manufacturing Co Ltd and Xinxing respectively. At present, the largest chip supplier of AR/VR headsets is Qualcomm Inc, and its mainstream solution, XR2, has the computing power of mobile phones. The report believes that if Qualcomm Inc wants to launch a PC/Mac computing-level AR/VR chip, it will have to be at least 2023mur2024.

Institutional viewpoint

Daiwa: Macau's gambling revenue in January is expected to continue the upward trend at the end of last year, the first choice for the industry.$Sands China Ltd. (01928.HK) $、$Galaxy Entertainment (00027.HK) $。

According to a research report released by Daiwa, according to the bank's on-site inspection, gambling revenue in January is expected to continue the rise of last month, with an average daily gambling revenue of about 226 million patacas as of Sunday, and is expected to range from 240 million to 260 million yuan in January. However, in view of the Omicron outbreak in Hong Kong and the need for city closure or large-scale testing in some parts of the mainland, it is believed that the news of customs clearance will have to wait until the end of the first quarter at least. The bank reiterated its "positive" rating on Macau gaming stocks, advising investors to collect high-quality Hao betting stocks, prefer Sands China and Galaxy Entertainment for ESG (environmental, social and governance) considerations.

CICC: the allocation of the fund to the pharmaceutical industry has fallen to a very low level, and the valuation attraction of core companies is becoming more and more obvious.

According to the report released by CICC, in the past week, under the influence of the expectation of interest rate hikes in the United States and the repeated epidemic situation, the stock market as a whole has undergone a relatively large adjustment, especially in the core assets with higher valuations in the pharmaceutical industry and sub-industries such as CXO (R & D and production outsourcing services) and medical services. From the financial point of view, the bank believes that the allocation of industry-wide funds to the pharmaceutical industry has been reduced to a very low level; from the valuation level of the core companies, it has been reduced to the lower-middle level in the past three years, and the valuation attractiveness has gradually emerged. The bank pointed out that the CXO sector is currently in the stage of adjusting and digesting the valuation, but it is still a good allocation asset in 2022. Hong Kong stocks are bullish on Wuxi Biologics, INNOVENT BIO, Conoya-B, Kangfang Biological-B, Rongchang Biological-B, Haijiya Medical and Angelalign Technology Inc..

BoCom International: maintenance$Tencent (00700.HK) $"Buy" rating, target price of HK $652.

According to a research report released by BoCom International, Tencent's video account has been realized, there is still room for revenue increase, the current price valuation is attractive, and the ecology of Wechat continues to improve. In 2022, BoCom International will focus on the cashability of live video accounts and the support of small and medium-sized merchants. The bank maintained its "buy" rating and lowered its target price to HK $652 from HK $690. According to the bank, with the overall layout of the overseas game market from R & D to release, the share of Tencent's game revenue is expected to continue to rise to 24% by 2023. The bank further adjusted its advertising revenue model and expects growth to slow to 9 per cent in 2022 and total revenue from 15 per cent to 14 per cent. Affected by the continued investment in 2B business and the reduction of JD.com 's holdings, the bank cut its net profit margin by 2 percentage points and increased net profit by 2 per cent in 2022.

Credit Suisse: upward adjustment$Sunny Optical Technology (02382.HK) $Target price to HK $295, maintained$AAC Technologies Holdings Inc. (02018.HK) $"neutral"Rating.

Credit Suisse issued a report saying that in reviewing the listed technology stocks in the mainland and Hong Kong, the shares benefited from new energy vehicles and meta-cosmic concepts, among which Shunyu was bullish on hardware and spare parts, and the target price was raised from HK $250 to HK $295. This is equivalent to the valuation of 36 times the forecast price-to-earnings ratio for 2023 and the 5-year historical average rising period. And due to the company's increased market share in Apple Inc's iOS equipment, advanced driving assistance system and virtual and augmented reality cycle, it gave a premium to its global peers and outperformed the big city rating. Credit Suisse lowered its target price for AAC from HK $38.50 to HK $32.10, equivalent to 19.3 times forecast 2022 earnings, while maintaining a "neutral" rating, concerned about the continued growth of its optical lens business but facing competition, WLG glass-plastic hybrid lens business needs to be clearer, and the market share of acoustics and touch components and Apple Inc iOS equipment is stable.

Fu Rui: maintain$JD.com Group-SW (09618.HK) $"Buy" rating, target price of HK $473.

Fu Rui released a research report saying that it maintained JD.com 's "buy" rating, with a target price of HK $473. JD.com Group's fourth-quarter revenue is expected to grow 21% year-on-year to 271 billion yuan (RMB, the same below), non-GAAP net profit of about 2.9 billion yuan, non-GAAP net profit margin stable to about 1.1% year-on-year. In JD.com 's retail sector, revenue is expected to grow by 19% over the same period last year, and the adjusted operating profit margin remains stable; in terms of new business, JD.com 's community group-buying business is expected to continue to grow in the fourth quarter. In addition, JD.com 's strong supply chain business model will contribute to long-term and sustainable growth for the Group.