Futu Information on June 22 | the three major indexes of Hong Kong stocks collectively closed down, with the Hang Seng Index falling 2.56%, the Hang Seng Technology Index down 4.37%, and the State-owned Enterprises Index down 2.84%.

By the end of the day, Hong Kong stocks were up 596, down 1344, to close flat.

The specific industry performance is shown below:

Plate aspectMost of the large technology stocks fellJD.com fell more than 6%, Meituan and BABA fell more than 4%, and Tencent fell more than 2%.

The decline of Internet medical stocks widenedJD Health fell by more than 14%, Alibaba Health Information Technology by more than 13% and Ping An Healthcare And Technology by nearly 6%.

Auto stocks rose.Geely Automobile rose by more than 4%, Li Auto Inc. by more than 2%, and NIO Inc. followed.

Coal price stocks continue to rise.Honghai's high-tech resources rose by more than 141%, Jiutai Bangda by more than 10%, and South-South resources by more than 4%.

Sporting goods stocks fellAnta fell more than 5%, Li Ning Co. Ltd. fell more than 4%, Xtep and Topsports International Holdings Limited followed suit.

Food and beverage stocks weakenedNai Xue's tea fell by more than 5%, while Haidilao International Holding and 99 Mao fell by nearly 4%.

Auto dealership shares fell in the afternoonZhongsheng Group fell by more than 4%, while Meidong Motor and Yongda Motor fell by more than 3%. Morgan Stanley downgraded the profit forecasts of Zhongsheng, Yongda and Meidong for this year to reflect the loss of after-sales service revenue caused by the epidemic, while the earnings forecasts for next year and 2024 were also lowered due to early purchase income in the second half of this year.

Individual stocks$Alibaba Health Information Technology (00241.HK) $It fell by more than 13%.A few days ago, the "regulations of the people's Republic of China on the implementation of the Drug Administration Law of the people's Republic of China (draft revised draft)" issued by the State Drug Administration has officially closed its one-month public consultation. With the increasing scale of the drug retail market on the third-party platform, the state will further clarify the relevant management obligations. This new article 83 clearly stipulates that third-party platform providers shall not directly participate in drug network sales activities.

$Galaxy Entertainment (00027.HK) $、$Sands China Ltd. (01928.HK) $It fell by more than 1%.On the news, the Macao Special Administrative region Gazette published on the 21st the Chief Executive's instruction that the public sector of the Macao Special Administrative region that provides non-emergency services will continue to be closed from June 22 to 24, 2022, with the exception of those providing emergency and essential services.

$Sunny Optical Technology (02382.HK) $It's down more than 7%.Guo Mingyi of Tianfeng International said that Meta has postponed all new headset / AR/MR hardware projects after 2024. In addition, Fu Ruiyan reported that due to the downgrade of the global smartphone outlook, it is believed that Shunyu's earnings and profits this year are under pressure, lowering the company's target price from HK $156.02 to HK $145.53, rating buy.

Hong Kong stock exchange fund

As for Hong Kong Stock Connect, there was a net inflow of HK $1.803 billion from Hong Kong Stock Connect (southbound) today.

Today's turnover of Hong Kong shares TOP20

Message surface

The state plans to prohibit third-party platforms from directly participating in online drug sales.

The State Drug Administration has issued the regulations of the people's Republic of China on the implementation of the Drug Administration Law (draft for soliciting opinions on the revised draft), and the one-month public consultation has officially ended. With the increasing scale of the drug retail market on the third-party platform, the state will further clarify the relevant management obligations. This new article 83 clearly stipulates that third-party platform providers shall not directly participate in drug network sales activities.

People's Daily: for energy, an important basic industry, setting up before breaking is the best choice.

People's Daily published an article saying that energy, an important basic industry related to the national economy and people's livelihood, is based on China's resource endowment, insists on establishing first, then breaking, and overall planning, and that the gradual withdrawal of traditional energy is based on the safe and reliable replacement of new energy. is the best choice. From the trend of social development, new energy has a bright future. However, new energy has a long way to go from relying on nature for food to ensuring harvest by drought and waterlogging, no matter in tackling key technical problems or deepening system reform. Therefore, the wisest choice is to complement each other's advantages with traditional energy sources, including thermal power and nuclear power, and we must not rush for success.

A maximum subsidy of 10,000 yuan! Changzhou, Jiangsu Province issues detailed rules on subsidies for the purchase of new energy vehicles

According to Changzhou, Jiangsu Province, Changzhou issued detailed rules for the implementation of subsidy funds to encourage the consumption and purchase of new energy vehicles. The detailed rules point out that according to the principle of "first come, first served", new energy passenger vehicles newly purchased and licensed by individual consumers in this city from June 10, 2022 will be subsidized; second-hand cars, operating vehicles, unit user vehicles and special vehicles will not be subsidized. The subsidy shall be given at 3% of the purchase price (including tax price for motor vehicle sales uniform invoice), up to a maximum of 10000 yuan per unit, and the subsidy funds shall be distributed to the applicant's own bank debit card.

The market income of domestic games both at home and abroad declined in May.

The Game Industry report of May 2022 released by third-party gamma data shows that the market income of domestic games both at home and abroad has declined. Specifically, in May, the actual sales revenue of China's game market was 22.919 billion yuan, down 6.74% from the same period last year, which was greatly affected by mobile games. China Mobile Limited's actual sales revenue in the game market was 16.595 billion yuan, down 2.15% from the previous month and 10.85% from the same period last year. In overseas markets, the actual sales revenue of China's independent R & D games was US $1.446 billion, down 5.8% from the previous month, and the flow of some head products declined.

Two departments: for live broadcast content that requires a high professional level, the anchor should obtain the corresponding professional qualification.

The State Administration of Radio and Television and the Ministry of Culture and Tourism jointly issued the Code of Conduct for Network anchors. The Code makes it clear that for live broadcast content that requires a high professional level (such as health care, finance and finance, law, education), the anchor shall obtain the corresponding practice qualification and report the practice qualification to the live broadcast platform. The live broadcast platform shall conduct qualification verification and filing of anchors.

Institutional viewpoint

CITIC: it is expected that the overall Hong Kong stock market will show an N-shaped upward trend in the second half of the year.

CITIC research newspaper believes that since May, local epidemics in China have been gradually brought under control and the policy of stabilizing growth has been strengthened, leading to a pick-up in investor confidence and the establishment of an upward inflection point. Looking forward to the second half of the year, the external risk factors that suppressed the performance of Hong Kong stocks have gradually faded, and with the support of internal stable growth policies, fundamentals have bottomed out and rebounded. The introduction of ETF, SPAC and other new policies of the Hong Kong Stock Exchange is also expected to bring a new round of reform dividends. Combined with the valuation advantages of Hong Kong stocks, we judge that the trend of continuous increase in global capital allocation since late May will continue to promote Hong Kong stocks to continue to repair in the second half of the year. It is expected that the Hong Kong stock market as a whole will show an N-shaped upward trend in the second half of the year. It is suggested that: 1) in the third quarter: the gradual weakening of the impact of the epidemic is expected to lead to the strengthening of the main line of resumption of work and production; and the oil and chemical sectors with strong certainty of performance in the reporting period; 2) in the fourth quarter: the valuation repair of the large financial sector after the positive growth rate of real estate sales; the favorable consumer sector after the growth rate of disposable income rebounded and the wealth effect appeared. 3) the second half of the year as a whole: under the normalization of regulation, the Internet sector with low valuations and bottomed-out performance, as well as high dividend targets with strong safety margin and the ability to continue and stabilize dividends.

CITIC: sales of new energy vehicles are expected to reach 54.3-553000 in June.

CITIC pointed out that in May 2022, the total sales of new energy vehicles reached 420000, which has basically returned to the March level, with an electrification rate of 26%. In terms of brand structure, sales of new energy vehicles by electric brands such as Tesla, Inc., NIO Inc., ideal and XPeng Inc. all picked up sharply after the factory's production capacity recovered to a certain extent, but compared with March, Tesla, Inc., NIO Inc. and XPeng Inc. still fell 51%, 9% and 34%. Based on newly developed models, the proportion of new energy models still increased rapidly in the first five months of 2022 compared with the same period last year (up to 44 per cent); the price band also increased, with 15-200000 models accounting for a year-on-year increase of 13pcts to 29 per cent, shifting from less than 150000 models to it. The rising proportion of electrification of new models and the delayed demand for superimposed epidemics are expected to drive the further penetration of new energy vehicles, and sales of new energy vehicles are expected to reach 54.3-553000 in June.

Bank of America Securities: l$NIO Inc.-SW (09866.HK) $、$XPeng Inc.-W (09868.HK) $及$Li Auto Inc.-W (02015.HK) $Target price, raise sales forecast for 2023-24

BofA expects a sustained increase in electric car penetration in China, raising its electric vehicle sales forecast for 2023-2024, taking into account the latest product lines of car companies, as well as high investment in R & D and sales channels. BofA raised its target price for NIO Inc. to HK $240, reiterating its "buy" rating. For Li Auto Inc., BofA raised its target price to HK $152, reiterating its "buy" rating. Bank of America also gave XPeng Inc. a "buy" rating, raising its target price to HK $159.00.

CITIC:$BABA-SW (09988.HK) $The overall performance of "618" is good, and the valuation pressure is expected to ease gradually.

CITIC issued a report that BABA's overall sales were good. According to Magic Mirror data, the 40 main categories of Tmall tracked by the bank during the June 18 event this year accumulated GMV growth of about 6 per cent year-on-year. The bank is relatively optimistic about BABA's medium-and long-term digital business service capabilities, maintaining a "buy" rating with a target price of HK $160 for H shares.