On July 15, the stock indexes of the two cities maintained a weak volatility in intraday trading. By the close, the Prev index was down 1.56 per cent at 3361.3 points, the Shenzhen Composite Index was down 1.87 per cent at 13734.13 points, and the gem index was down 1.6 per cent at 2813.06 points. On the disk, the tourism and hotel catering sectors rose sharply, the alcohol stocks became active again, and the food and beverage and pharmaceutical sectors strengthened. Specifically:
1. Hotel tourism
The hotel and catering tourism sector rose sharply in intraday trading today, as of the close, hanging forest tourism, Qujiang cultural tourism, Changbai Mountain, Yunnan tourism, Xi'an tourism, Zhangjiajie, Jiuhua tourism, Dalian Shengya, Tianmu Lake, Huangshan tourism, etc., Tibet tourism is approaching the limit.
In addition, the hotel catering sector is also higher, as of the close, Huatian Hotel, Lingnan Holdings, Jinjiang Hotel and other trading.
In the news, on the evening of July 14, the General Office of the Ministry of Culture and Tourism issued a notice: with the exception of medium and high-risk areas, travel agencies and online tourism enterprises can resume their inter-provincial (regional and municipal) group tourism and "air ticket + hotel" business. At the same time, under the premise of strictly implementing various prevention and control measures and taking reservations and current restrictions, the indoor places of tourist scenic spots are allowed to be opened step by step. However, the notice makes it clear that the inbound and outbound tourism business will not be resumed for the time being.
A person related to Trip.com said that as soon as the news came out, the search volume of various sectors such as holidays, hotels, civil aviation and other sectors on the Trip.com platform rose rapidly, and the number of domestic instantaneous searches for group tours and individual trips soared by 500% compared with those before opening up. The summer vacation travel desire of domestic tourists has been quickly stimulated. Summer vacation has always been a small peak in the tourism industry of the year.
Bohai Securities pointed out that the trend of continued improvement in tourism has not changed. From a long-term point of view, the following main investment lines are recommended: 1) tax-free industries that continue to receive policy dividends and clear logic; 2) hotel industry leaders with low valuations and greater flexibility; and 3) high-quality scenic spot companies with mature models and the ability to replicate in different places. To sum up, China exemption, Jinjiang Hotel and Songcheng Performing Arts are recommended.
2. Alcoholic stocks
Alcohol stocks are active again in intraday trading today. By the close, Gujing Gong Liquor and Elite rose more than 6%, while Yingjia Gong Jiu, Shunxin Agriculture, Shanxi Fen Liquor and so on rose more than 5%.
For the liquor sector, Huachuang Securities pointed out that under the wealth effect, the self-strengthening of Maotai demand has obviously accelerated, the attributes of gifts and assets have been fully magnified, the tension between supply and demand has intensified, and the current off-season delivery quota is not high, although the company has introduced measures to control, wholesale prices are out of control, and flying prices will continue to rise before the Mid-Autumn Festival. Wuliangye plus push enterprise group buying and other new channels, get rid of the historical problem of "the wholesale price falls as soon as the volume is released", and the wholesale price rises steadily. At the financial level, the recent hot issue of funds is expected to bring obvious incremental funds to consumer leaders such as high-end spirits. Combined with wholesale price outlook, medium report expectation and incremental capital effect, the valuation premium of high-end liquor is expected to be strengthened, and Guizhou Moutai, Wuliangye and Luzhou laojiao will continue to be fully recommended. The valuation premium of high-end liquor will also drive the overall popularity of the plate before the Mid-Autumn Festival, and it is suggested that from the perspective of fundamental support, add Gujing tribute wine, Shanxi Fenjiu, this world margin, and pay attention to the inflection point of Yanghe stock management.
3. Food and beverage
The food and beverage sector strengthened again in intraday trading today. By the close, Bao Lingbao, tasteless food, Daoquan, Jindawei, Huang Shanghuang, etc., were up by the daily limit, and Shuanghui development was up more than 7%.
Looking forward to the second half of 2020, Minsheng Securities believes that the food and beverage sector will maintain relatively good income and profit growth. Although the room for valuation improvement has narrowed significantly in the second half of 2020, on the one hand, the improvement of the overall market will help the overall valuation of the sector to rise, on the other hand, the sectors and companies defined by the fundamentals are expected to continue to enjoy the valuation premium and are expected to switch valuations in the second half of the year. Focus on the pursuit of two main lines: (1) sound thinking-stability is the king, profit-driven harvest of deterministic income. Recommendation: high-end spirits are expensive; sub-high-end and popular spirits recommend Shanxi Fen Liquor, Jinshiyuan and Shunxin Agriculture.
(2) the choice of flexibility-the improvement or reversal of fundamentals and the space for "Davis double-click". Recommendation: Yanghe shares, which are expected to grow again in the second half of the year; competition in the dairy sector is expected to gradually slow down and profit elasticity is expected to recover in the medium term; recommend Yili shares, Guangming Dairy, Yantang Dairy and Tianrun Dairy; Zhongju High-tech and Hengshun vinegar, which are expected to gradually accelerate the reform and growth of the recommended sales system in the condiment plate. The overall profitability of the beer sector is expected to continue the trend of improvement, maintain the recommendation of the whole sector, with emphasis on Tsing Tao Beer, Chongqing Beer and Pearl River.
4. Medicine plate
The pharmaceutical sector rose in intraday trading today. By the close, Haili Biological, Ganli Pharmaceutical, Tibetan Pharmaceutical, Kanghua Biological, Guanyuyuan, Shanghai Fosun Pharmaceutical, Hainan Marine Medicine, Huluwa, and Yangtze River Health were up by the daily limit, while Jiudan Pharmaceutical was up more than 9%.
Wanlian Securities pointed out that although the pharmaceutical sector rose significantly in the first half of the year, its industry still has a long-term broad space for growth. Short-term recommendations focus on the relative stagflation of stock prices affected by the epidemic, but with high PEG performance-to-price ratio of the relevant growth stocks, at the same time, the mid-reporting season is approaching, it is recommended to pay attention to the reported performance to maintain rapid growth In the medium to long term, we are still firmly optimistic about high-quality tracks within the industry, bargain-hunting innovative drugs and R & D industry chain (CXO), innovative medical devices benefiting from new medical infrastructure, and medical services / consumption (growth hormone, medical rehabilitation and higher-than-expected stocks) high-quality stocks.