Track the latest developments in north-south funding
April 17,Beishang Capital's net sale of A-shares was 232 million yuan, the second consecutive day of net sales. Among them, Shanghai Stock Connect had net sales of 255 million yuan and Shenzhen Stock Connect had a net purchase of 234.29 million yuan.
Among the top ten trading stocks, those with the top three net sales were Ningde Times, Kweichow Moutai, and IFF, which had net sales of 613 million yuan, 604 million yuan, and 529 million yuan respectively. Mindray Healthcare bucked the trend and received a net purchase of 79 million yuan.
Southbound's net purchase of Hong Kong stocks was HK$1,147 million.Among them, Hong Kong Stock Connect (Shanghai) had a net purchase of HK$1,566 million, and Hong Kong Stock Connect (Shenzhen) had a net sale of HK$419 million.
Among them, net purchases of Tencent were 805 million, China Mobile at 691 million, Xiaomi at 286 million, China Telecom at 268 million, Ideal Auto at 233 million, CNPC at 154 million, and Meituan at 119 million.
Net sales of Yingfu Fund amounted to $5,061 million, Hang Seng China to $758 million, Kuaishou to $232 million, and China CITIC Bank to $177 million.
According to statistics, Southbound has increased China Mobile's holdings for 10 consecutive days, totaling HK$3,586.6 billion; increased CNPC's holdings for 6 consecutive days, totaling HK$1,6133.8 billion; and increased Tencent's holdings for 3 consecutive days, totaling HK$2.106.7 billion.
Nanshui focuses on individual stocks
Ningde era:According to the news, on April 16, Ningde Times, a leading power battery company, released its financial report for the first quarter of 2024, showing that during the period, total operating revenue was 79.77 billion yuan, down 10.41% year on year; net profit attributable to shareholders of listed companies was 10.51 billion yuan, up 7% year on year; and deducted non-net profit was 9.25 billion yuan, up 18.56% year on year.
Kweichow Moutai:Huachuang Securities said in the research report that liquor expectations have stabilized and value has returned. Currently, leading liquor companies' inventories are at a healthy level. The fundamentals of “volume and price” are all relatively stable. There is no shortage of catalysts such as improving price markets, buybacks, increases in holdings, and dividends in the short term.
Mindray Healthcare:Mindray Healthcare said on an interactive platform on April 16 that in the news that the EU will launch an investigation into Chinese medical devices, it was mentioned that it will use an international procurement tool (IPI) for Chinese medical devices to participate in EU procurement. IPI affects goods and services with a bid amount of 5 million euros or more, and the company currently does not have any single project with a procurement contract value of 5 million euros or more in the EU. Therefore, calling IPI will not have any impact on the company's participation in EU procurement.
Beishui focuses on individual stocks
Tencent:Tencent Holdings will release its financial report for the first quarter of 2024 on May 14. According to research reports from both brokerage firms, Guohai Securities and BOC International, they both pointed out that Tencent's gaming business will pick up in the first quarter of this year. Take Guohai Securities's research report as an example. The brokerage firm expects Tencent game revenue of 48 billion yuan in the first quarter of 20224, down 1% year on year and 17% month on month.
China Mobile, China Telecom:Wang Xing, chief analyst at Huatai Securities Communications, said that controlled capital expenditure will be a good guarantee for improving the cash flow and profitability of the three major operators. The decline in capital expenditure budgets and the improvement in operational efficiency are expected to drive related companies' ROE levels to continue to increase. Komo also published a report stating that after the announcement of the 2023 fiscal year results, he continues to have a positive view on telecom stocks and is optimistic about the free cash flow that will continue to expand after capital expenditure is cut in the next two to three years.
THE IDEAL CAR:According to Ideal Auto's official Weibo, the new Ideal L6 product launch will be held at 8 o'clock on April 18. Everbright Securities previously stated that growth is still the main driving force for 2024E's ideal sales growth (focus on the catalytic effect of L6 listing), and delivery volume is expected to improve steadily from quarter to quarter. The bank also pointed out that the Matrix Organization 2.0 upgrade indicates that the company has begun to reflect and act. Reducing the burden of CEO office functions+focusing on product definition and implementation is expected to further improve the company's user value, operating efficiency, and decision-making capabilities, and provide a guarantee for subsequent new product launches.
CNPC:Morgan Stanley said that the profit forecast and target prices for CNPC and CNOOC were raised based on the latest predictions for crude oil prices in the recent geopolitical tension. Goldman Sachs said that if oil prices remain at $80 per barrel, CNPC will be an ideal choice for long-term investors, and this price level is expected to continue until 2025.