[important data]

[Zhitong Viewpoint]

1. Although valuations have been cheap, the market is still in a period of volatility recently, mainly due to uncertainty, and the market is waiting for any good news at the end of the month. Assuming favorable information, certainty allows the valuation to be repaired. Assuming bad news, there is likely to be a last jump, and liquidity can be expected to be looser than it is now, pushing up the repair of valuations. So the market is still in a wait-and-see attitude.

In addition to the market, there are also sectors. Assuming that the situation moderates, it is the technology sector that will restore confidence first. if not, the fiscal policy of Tiegong Foundation will emerge soon. In addition, further reductions in drug costs may not be achieved until September, and the latest situation of 5G capital expenditure will not be determined until the August results meeting, depending on the capital expenditure of the three major operators (although it has now been determined to be higher than that at the beginning of the year). Similar domestic policy effects will also be uncertain for the capital's main target in the next stage.

two。 In the case of the Hang Seng Index, the accepted bad market fell only 13.8% for the whole year, or 22% even from its highest point, while the Hang Seng Index fell 9.8% in May alone, down more than 11% from the top of the rebound. The adjustment is very rapid, superimposed some special events, and the caution of funds exceeding expectations is reasonable in turn. However, at present, the trend of global liquidity easing is beginning to emerge, only to be confirmed by the United States. At present, the market expects the probability of an interest rate cut in the United States to be close to 80% in July, and the results will be announced in mid-July, opening up room for domestic monetary policy. When liquidity is generally loose, the room for market adjustment is relatively limited.

[company news]

1. Evergrande (03333) three bases of new energy vehicles settled in Shenyang

two。 China Railway Construction Corporation (01186) subordinate company won the bid Dongxiang County EPC general contract project involving 7.191 billion yuan

3. Chengshi Foreign Education (01565) plans to acquire 870 million yuan in Chengdu land rights and interests through the merger of Yanqiang Real Estate and the acquisition of assets.

4. Xinjiang Goldwind Science & Technology (02208) sold 100% stake in Dezhou Runjin to Guokai New Energy for 931 million yuan.

5. Training Industry (01962) plans to join hands with Juzhang in Yunnan Province to develop new products and distribute industrial hemp derivatives.

6. Standard Chartered PLC (02888) buys back about 1.43165 million shares and cancels 1.44 million shares

7. Zoomlion Heavy Industry Science and Technology (01157) spent 31.0073 million yuan to buy back 5.5415 million shares on June 14.

8. New World Development (00017) spent HK $11.4654 million to buy back 1 million shares on June 14.

9. Fosun (00656) spent HK $9.8783 million to buy back 1 million shares on June 14.

10. E-House Enterprise Holdings (02048) spent HK $8.7386 million to buy back 913200 shares on June 14.

11. Chongqing Iron and Steel (01053) spent 6.7 million yuan to buy back 3.5 million A shares on June 14.

twelve。 Macau Lijun (01680) HK $5.542 million buyback 4.589 million shares on June 14

13. IMAX CHINA (01970) bought back 162000 shares at HK $3.129 million on June 14.

14. China Literature (00772) spent HK $2.4404 million to buy back 75600 shares on June 14.

15. Longsheng Pharmaceutical (00503) spent HK $1.6883 million to buy back 1.61 million shares on June 14.

16. Redeeming 436000 shares at a cost of about HK $1.6113 million on June 14, 01806

17. Yuefeng Environmental Protection (01381) spent HK $1.5192 million to buy back 432000 shares on June 14.

18. Xianjian Technology (01302) spent HK $1.41 million to buy back 1 million shares on June 14.

19. IGG (00799) spent about HK $1.1141 million to buy back 131000 shares on June 14.

[financial report Express]

1. Kaisa Group's (01638) total contract sales in the first five months increased by 74.6% to 27.81 billion yuan.

two。 Qiu Ti Technology (01478) expects the profit attributable to shareholders in the first half of the year to be about 150 million to 180 million yuan.

3. The value of newly signed contracts in the first five months of China Metallurgical Industry (01618) increased by 18.5% to 299.54 billion yuan compared with the same period last year.

4. Zhongan Online's premium income in the first five months of 06060 increased by 15.57% to 4.588 billion yuan compared with the same period last year.

5. China Eastern Airlines Corp Ltd (00670) May passenger turnover rose 11.41% year on year to introduce 2 aircraft

6. Ping An Insurance's premium income in the first five months of 02318 increased by 9% to 388.329 billion yuan compared with the same period last year.

7. China Southern Airlines (01055) May passenger transport capacity increased by 8.71% compared with the same period last year.

8. Sichuan Chengdu-Chongqing Expressway (00107) May toll income increased by 7.91% to 323 million yuan compared with the same period last year.

[macro and Industry]

1. China's total retail sales of consumer goods rose 8.6% in May from a year earlier, compared with an estimated 8.1%, compared with a previous value of 7.2%. From January to May, the total volume of retail sales of consumer goods increased by 8.1% over the same period last year. Of this total, retail sales of consumer goods per unit above the quota increased by 3.9%.

two。 China's industrial added value rose 5% in May from a year earlier, with an estimated 5.4%, compared with a previous value of 5.4%. From January to May, the added value of industries at and above the national scale increased by 6.0% compared with the same period last year, which was 0.2 percentage points lower than that in January-April.

3. [China's urban fixed asset investment grew 5.6 per cent from January to May compared with the same period last year] from January to May, national fixed asset investment (excluding rural households) totaled 21.7555 trillion yuan, an increase of 5.6 percent over the same period last year, and the growth rate was 0.5 percentage points lower than that in January-April. In terms of month-on-month speed, fixed asset investment (excluding farmers) increased by 0.41% in May. Of this total, private fixed asset investment totaled 13.0823 trillion yuan, an increase of 5.3 percent over the same period last year, and the growth rate was 0.2 percentage points lower than that from January to April.

4. [China's investment in real estate development increased by 11.2% from January to May last year] from January to May 2019, national investment in real estate development totaled 4.6075 trillion yuan, an increase of 11.2% over the same period last year, and the growth rate was 0.7% lower than that in January-April. Of this total, residential investment totaled 3.378 trillion yuan, up 16.3 percent, and the growth rate dropped by 0.5 percent. Residential investment accounts for 73.3% of real estate development investment.

5. [IDC: European smartphone shipments Q1 fell 2.74% Huawei and XIAOMI bucked the trend] according to the latest report released by market research firm IDC, in the first quarter of this year, European smartphone shipments totaled 53.5 million, down 2.74% from the same period last year, while China shipped 13.5 million, up 66.13%, and XIAOMI 2.9 million, up 33.26% over the same period last year.

6. [White Paper on 5G pilot cities "released: there are more than 1 billion 5G mobile phones] recently, Sadie consultant of the Ministry of Industry and Information Technology released the White Paper on the Development potential of China's first batch of 5G pilot cities in 2019. According to the report, the first batch of 18 pilot cities established by the three major operators include 4 municipalities directly under the Central Government, 8 vice-provincial cities, 10 provincial capitals, 2 cities separately listed on the plan, and 1 prefecture-level city. Sadie consultants believe that 5G phone penetration will reach 2% in 2020, 30% in 2022 and 75% in 2024. At that time, the number of 5G mobile phones in China will exceed 1 billion.

7. [the decline in the box office of films in the previous May is due to the lack of popular styles in the first five months of this year. In the first five months of this year, the box office of Chinese films fell by 6.35% compared with last year; the number of moviegoers was only 689 million, a decrease of 100 million compared with the same period last year. Experts say that the film market is a market where supply creates demand, that is to say, if there are some high-quality films, the attendance rate will increase. Traditional marketing methods are more and more limited in improving box office performance, and rely more on word-of-mouth. (the first five months of this year) generally speaking, the quality of film supply, especially the low quality of domestic films, is an important reason for the decline.

8. [national Energy Administration: electricity consumption of the whole society increased by 2.3% in May compared with the same period last year.] the National Energy Administration released data on electricity consumption of the whole society in May on June 13. In May, the electricity consumption of the whole society was 566.5 billion kilowatt-hours, an increase of 2.3 percent over the same period last year. In terms of industries, the electricity consumption of the primary industry was 6 billion kilowatt hours, up 2.2 percent over the same period last year; the electricity consumption of the secondary industry was 406.4 billion kilowatt hours, up 0.7 percent over the same period last year; the electricity consumption of the tertiary industry was 85.8 billion kilowatt hours, an increase of 6.8 percent over the same period last year; and the domestic electricity consumption of urban and rural residents was 68.3 billion kilowatt hours, an increase of 6.8 percent over the same period last year.

9. [seven ministries, including the National Development and Reform Commission: the market share of green and efficient refrigeration products will be increased by 20% by 2022] the National Development and Reform Commission, the Ministry of Industry and Information Technology and other seven ministries issued the Green and efficient Refrigeration Action Plan. The target is to increase the market energy efficiency of domestic air conditioners, multi-on-line and other refrigeration products by more than 30% by 2022, increase the market share of green and efficient refrigeration products by 20%, and achieve annual power savings of about 100 billion kilowatt-hours. By 2030, the energy efficiency of refrigeration in large public buildings will increase by 30%, the overall energy efficiency of refrigeration will increase by more than 25%, and the market share of green and efficient refrigeration products will increase.

[big Bank rating]

China Bank International: give exchange bar (01753) "buy" rating, target price HK $6.35

UBS: upgrade CNOOC (00883) to "buy" with a target price of HK $16.30

Daiwa: maintain Country Garden Services Holdings's (06098) "buy" rating, raising the target price to HK $19.10

Daiwa: give CK Asset a "buy" rating of 01113, with a target price of HK $85.20

Daiwa: give Sun Hung Kai Properties a "buy" rating of 00016, with a target price of HK $160.8

Bank of America Merrill Lynch: downgrade Bank of East Asia (00023) to "outperform" to HK $20

[transaction alarm]

Zhihua Group (01842), Chuangshi Group Holdings (01849), Jinxin Reproduction (01951).

Thinking music education (01769) pricing day.

China ship charter (03877) listing date.

Mei Heng Industrial (01897), Leader Holdings (00789), Oriental newspaper Group (00018), L'OCCITANE (00973), DCB Holdings (08040), Amphir International (08410), Holdings International (08431), Liancheng Technology Group (08635) announced results.