Evaluation of Hong Kong stocks

Futu Information on January 21 | the Hang Seng Index closed up 0.05%, the National Index rose 0.29%, and the Hang Seng Technology Index fell 0.44%.

As of the close, Hong Kong stocks rose 871 today, fell 982 to close flat 997.

Plate aspectLarge-scale technology stocks vary from rise to fall.JD.com rose more than 2%, Tencent and Baidu, Inc. closed slightly higher, and NetEase, Inc and BABA fell more than 3%.

Tourism stocks pull up in a straight lineTrip.com is up nearly 8%, the same trip is up nearly 6%, and CTS in Hong Kong is up nearly 2%.

Beer stocks strengthen collectivelyTsingtao Brewery rose by nearly 7%, China Resources Beer by more than 4% and Budweiser Brewing Company APAC Limited by more than 3%.

Most of the catering sector rose.Nai Xue's tea rose by more than 8%, 99 cents by more than 6%, Haidilao International Holding by more than 4%, Helens and Yum China-S by about 3%.

Inner housing stocks strengthened in the afternoonSunac China is up nearly 5%, R & F, Longhu and Longguang are up nearly 3%, China Resources Land and China Overseas Land & Investment are up nearly 2%.

In other aspects, gaming stocks, gold stocks and coal stocks were active, while biomedical B stocks, military stocks, traditional Chinese medicine stocks, port shipping stocks and Evergrande concept stocks were depressed throughout the day.

Individual stocks$via creature (01873.HK) $It's up nearly 14%.$Shanghai Fosun Pharmaceutical (02196.HK) $It increased by nearly 3% and was allowed to imitate Merck & Co Inc Xinguan to take medicine orally.

$Sunac China (01918.HK) $Up nearly 5%, it is reported that banks in Beijing, Shanghai, Shenzhen and other places officially cut mortgage interest rates today.

$Nai Xue's tea (02150.HK) $Volume rebounded by more than 8%, and store revenue continued to recover in the fourth quarter.

$Trip.com-S (09961.HK) $With an increase of nearly 8%, the 14th five-year Plan for Tourism Development proposes to cultivate a number of large tourism groups and tourism enterprises with international influence.

$Sands China Ltd. (01928.HK) $Up more than 3%, Credit Suisse said the draft gambling law was looser than expected and the border was expected to be gradually reopened.

$NONGFU SPRING CO., LTD. (09633.HK) $Up nearly 5%, Lyon expects gross profit and net profit to remain stable and strong in 2021.

$Pop Mart International (09992.HK) $Up more than 4%, CICC said regulation will help raise the threshold of the blind box market and develop in a healthy and orderly manner.

$Tsingtao Brewery (00168.HK) $Up nearly 7%, a number of major banks issued research reports optimistic about beer stocks.

$Golly Pharmaceuticals-B (01672.HK) $It fell by more than 19%, and domestic enterprises were authorized by COVID-19 to take oral medicine for the first time.

$COSCO Shipping Holdings (01919.HK) $The decline of more than 4% led shipping stocks lower, and the BDI index fell for 10 trading days in a row, hitting its lowest level in about a year.

Hong Kong stock exchange fund

As for Hong Kong Stock Connect, there was a net inflow of HK $2.036 billion from Hong Kong Stock Connect (southbound) today.

Today's turnover of Hong Kong shares TOP20

Message surface

Geely plans to buy Meizu phones.According to the media, it has been learned from a number of independent sources that Geely's mobile phone company is in contact with the mobile phone manufacturer Meizu to discuss the acquisition. "the transaction is still in progress and DD (due diligence) is being done. A number of people close to the deal said. In terms of the purchase price, as the transaction is not yet over, the price is not clear.

Tencent Music carried out personnel and organizational adjustments, involving QQ Music and the whole people singing.At noon yesterday, Tencent Music Entertainment Group issued an announcement No. 3, which adjusted the organizational structure of QQ Music's business line and Tencent Music Infrastructure Department, and promoted and appointed some managers at the same time. An internal director of Tencent Music told the Interface News that at the beginning of this month, most of the business cadres had been informed of the details of the adjustment, but the final appointment and removal announcement was announced on the same day of the annual meeting of QQ Music's business line.

The Ministry of Transport interviewed 8 new business type platform companies, including DiDi Global Inc. and Meituan.Ministry of Transport: on the morning of January 20, 2022, new business type coordinated with the supervision inter-ministerial joint conference office to interview four Internet road freight platform companies, including Full Truck Alliance Co. Ltd., cargo Lala, DiDi Global Inc. Freight, and GOGOX. Remind four ride-hailing platform companies, including DiDi Global Inc. Travel, Cao Cao Travel, T3 Travel and Meituan Travel.

Institutional viewpoint

UBS: maintain$Kuaishou Technology-W (01024.HK) $"Buy" rating, target price of HK $140.

UBS issued a report saying that Kuaishou Technology is still one of the bank's favorite online media stocks because of the group's resilience to recent macro weakness. The Group's market share in online advertising and e-commerce has increased, and cost discipline is estimated to make gross profit margin better than expected, especially in sales and marketing expenses under the new management team. The bank expects Kuaishou Technology's advertising revenue to grow by 50 per cent in the fourth quarter of last year, while the total value of ecommerce transactions is expected to rise 34 per cent. In addition, the adjusted net profit margin is expected to be negative 18%, better than the negative 24% in the third quarter. The target price of Kuaishou Technology's shares will be reduced from HK $154to HK $140. this is estimated at a discounted cash flow rate of 4.8 times this year's sales rate, maintaining the "buy" rating and lowering the group's revenue forecast for this year by 13%. To reflect the weakness of the macro market since the third quarter of last year, the group is expected to lose Rmb2.09 per share this year, higher than the bank's earlier estimate.

Daiwa: reiterate$China Resources Beer (00291.HK) $It is the first choice for the industry, and the epidemic situation will not affect the high-end products.

Daiwa reported that China Resources Beer's share price has fallen 9 per cent since the beginning of this year due to an epidemic in the mainland in the fourth quarter of last year and continuing social restrictions. However, the bank is still optimistic about the group's growth prospects in the future, and it is expected that the epidemic will not affect the high-end products, mainly because if cross-city travel restrictions in the mainland during the New year period reduce the flow of people, beer consumption in big cities and rich areas may be supported as a result, coupled with the possibility of direct price increases and product upgrades. The bank cut China Resources Beer's target price to HK $75 from HK $82.50, which is equivalent to a forecast of 25 times corporate value to EBITDA this year, maintaining its buy rating. Reiterated as the industry's first choice, and slightly raised the group's revenue forecast for this year and next by 1% to 3%, but the earnings per share forecast was reduced by 4% to 13% to reflect the rise in brand investment and raw material costs.

Goldman Sachs Group: the increase in interest rates benefited from the Bank of Hong Kong has not been fully reflected, reiterating$BOC Hong Kong (Holdings) Limited (02388.HK) $"Buy" rating.

Goldman Sachs Group released a report that the factors that Hong Kong local bank stocks benefited from interest rate hikes were not fully reflected. BOC Hong Kong (Holdings) Limited was still the preferred stock among the bank's local banks in Hong Kong, reiterating its "buy" rating and adding the convinced buy list. The target price was raised from HK $34.90 to HK $38.50. Goldman Sachs Group believes that the positive impact of interest rate hikes on the banking sector's net interest margin is obvious, but it may be offset by slower loan growth, weak non-interest income and declining asset quality. The bank analyzed the impact of the last interest rate hike period on these bank indicators. During the interest rate hike cycle, these indicators gradually slowed down, that is, balance sheet growth slowed, non-interest income growth declined, Xiaobai Maimai Inc costs increased, as loans became more expensive, borrowers borrowed less, driving banks' non-interest income capital markets to become less strong. The bank expects BOC Hong Kong (Holdings) Limited to show his best performance on these indicators again.

Nomura: maintain$ANTA Sports Products (02020.HK) $"Buy" rating, target price of HK $157.2.

Nomura reported that retail sales of Anta's core brand recorded year-on-year growth of about 15 per cent in the fourth quarter of last year, up from more than 10 per cent in the third quarter. Management expects the average price of core brands to rise by 10 per cent this year as it broadens the availability of high-end products and moves into malls in larger cities. Nomura lowered the target price of Anta shares from HK $194.6 to HK $157.2, maintained its "buy" rating, and lowered the group's net profit forecast for 2021-2022 by 1.8% to 6% to reflect higher advertising and marketing spending, partly offset by a rise in gross profit margin.