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晨会纪要

Minutes of the morning meeting

華金證券 ·  Apr 13, 2020 00:00  · Researches

The main points of the day:

[macro strategy] uncertainty risk may gradually become clear-Strategy Weekly report

[macro strategy] the scale of credit exceeds expectations, and corporate investment and consumer demand may recover.

[macro strategy] improve the basic institutional reform and relax the constraints for high-quality economic development

[macro Strategy] comments on March Price data: CPI fell compared with the same period last year, and the pressure on food prices eased.

[industry Review] Medicine: non-epidemic varieties have gradually recovered, and some core companies still have a good performance in the first quarterly report.

[industry Review] Medicine: CANSINOBIO and COVID-19 vaccine is the fastest in the world and is about to enter phase Ⅱ clinic.

[industry Review] Electronic components: week 15, 2020: overseas semiconductor manufacturers focus on downgrading performance guidelines and pay attention to the quarterly report of domestic supply chain

[industry Review] Automobile: 16th Weekly report: the decline in passenger car sales narrowed continuously in March, and the bottom of the car market picked up.

[industry Review] Communications: RCS upgrade 5G message, open ecology benefits

[industry Review] Automobile: March automobile production and sales analysis: March production and sales month-on-month improvement, obvious signs of industry recovery

[industry Review] Communications: 5G drives "heat dissipation" fire, and domestic manufacturers welcome the opportunity financial news:

1. Bureau of Statistics: CPI rose 4.3% in March compared with the same period last year. Pork prices affected the rise of CPI by about 2.79%.

2. Bureau of Statistics: PPI fell 1.5% in March compared with the same period last year

3. Central Bank: China's M2 money supply rose 10.1% year-on-year in March before 8.8%

4. China's new RMB loans in March are expected to be 2.85 trillion yuan and 1.8 trillion yuan.

5. Ministry of Commerce: reducing the cost of domestic sales of enterprises and expanding the pilot project of selective taxation for domestic sales

6. Two departments: speeding up the digital transformation of common technologies and the development and application of key technologies

7. Two departments: vigorously develop sharing economy to support new retail and "home economy" new business type

8. Ministry of Industry and Information Technology: iron and steel production inventory dropped month-on-month in March

9. National Development and Reform Commission: the price temporary subsidy standard will be doubled from March to June.

10. Ministry of Industry and Information Technology: make full use of big data, 5G and other new generation information technology to help small and medium-sized enterprises resume work and production.

Energy Bureau: promoting energy development and energy infrastructure construction

12. China Automobile Association: total 4.5GWh of power battery production in China decreased by 45.5% in March compared with the same period last year.

13. China Automobile Association: passenger car sales fell by 48.4% in March compared with the same period last year.

14. Energy Bureau: support the development and application of new fuels and industrial raw materials to replace oil and natural gas

15. Shenzhen Stock Exchange: continuously improve the investment and financing docking service of small and medium-sized enterprises to promote the organic combination of the development of small and medium-sized enterprises and the capital market

16. Shanghai: policy of providing low-interest loans to strategic emerging industries such as artificial intelligence and biomedicine

17. Science and Technology Innovation Board's stock market fell and Sanyou Medical rose by more than 17%.

18. The Shanghai Composite Index closed down 1.04% at 2796.63.

19. Hong Kong stocks are closed for holidays

20. Us stocks are closed for holidays

Key announcements:

Yiwei LiNeng: the actual controller and the chairman of the board plan to reduce their holdings by no more than 1%.

Vanadium-titanium: vanadium-titanium products of Panzhihua Iron and Steel Co., Ltd. Net profit decreased by 89% / 92% in the first quarter compared with the same period last year.

Xinhe Cheng: net profit in the first quarter is expected to increase by 70% and 90%.

Longda Meat: net profit is expected to increase by 75.0% to 80.0% in the first quarter compared with the same period last year.

Three-dimensional communication: it is proposed to raise no more than 1.272 billion yuan

Tongjitang: shareholders intend to reduce their shares of the company by no more than 6%

The translation is provided by third-party software.


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