Investment Strategy of Retail Industry
Looking ahead to next week, we thinkStock marketMay still be in a slow recovery, so low-valued blue-chip stocks are relatively safer, from the current situation, small and medium-sized sectors, especiallyGemThe risk has not been completely ruled out, so blue chips with low valuations have a valuation advantage.Reform of state-owned enterprisesWe prefer retail stocks in Guangdong and Chongqing, while we continue to recommend the concept of transformation.Dongbai Group、Commercial cityAndHundred big groups(no rating), and in the second half of the year, we speculate that more offline retail enterprises will be like SUNING and Yonghui.InternetLeading enterprises for online sales and expansion, Yonghui may be a short-term retail enterprise that can better reflect the effect of integration. With the end of the disclosure of the China Daily, retail fundamentals have not significantly improved, so non-performance-driven valuations may be a short-term shortcut to finding Alpha. Next week, it is recommended to pay attention to:Lao Fengxiang、Yonghui supermarket, Dongbai Group, Commercial City,Dashang shares(no rating).
Shanghai Stock Exchange this weekComprehensive indexThe Shenzhen component index rose and fell by-7.85% and-9.26% respectively, while the Shenwan commercial trade index rose and fell by-8.12%.Deep syndrome component indexBut lost to the Shanghai Composite Index.
The retail sector fell 8.12% this week, ranking 11th among 28 industries in case of emergency, up from 22nd last week. This weekLarge marketA sharp pullback in the first three days and a marked increase in the last two days. In terms of industry, all of the 28 emergency industries fell this week, of which the three industries with the smallest decline wereBank、Food and beverageAnd transportation, down 2.41%, 4.26% and 6.86% respectively in a week, with the smallest rebound since the market bottomed out in July.
The biggest declines this week were in steel, computers and defense industries, down 13.70%, 12.78% and 12.50% in a week.
The retail sector fell sharply this week, mainly due to a systematic sharp correction in the first three trading days of the market this week, while the retail sector also adjusted after a 16% rise in the week before last week.
Of the retail stocks this week, only seven companies rose, the biggest increase beingShanghai 900The weekly increase of 4.95% is mainly due to the expected catalysis of the reform of state-owned enterprises. This week, 12 retail companies were suspended from trading, while 52 companies fell. Among them, the top five declines areGuangzhou Friendship、Aishide、Tongcheng Holdings、Maoye logisticsAndOriental Jinyu.