Hong Kong City Quick View | The three major indexes closed down slightly, education stocks rose against the market trend, and New Oriental Online surged by more than 26%

time:2022-09-29 12:08:53 source:clevelanddrifters.com author:Aviation stock
Hong Kong City Quick View | The three major indexes closed down slightly, education stocks rose against the market trend, and New Oriental Online surged by more than 26%

Futu News, August 30 | The three major indexes of Hong Kong stocks gradually recovered in the afternoon but still closed down. The Hang Seng Index fell by 0.37%, and recently hovered around 20,000 points. As of the close, Hong Kong stocks rose 739 stocks today, fell 1045 stocks, and closed flat at 1120 stocks. Quote source: Futu Niuniu - Opportunity - Market Hotspot - Hong Kong Stock Hotspot - Ups and Downs Distribution The specific industry performance is as follows: Quote source: Futu Niuniu APP - Market - Opportunity - Heat Map In terms of the sector, the trend of science and technology stocks is differentiated, and the Kuaishou falls more than 4%, Bilibili fell by more than 2%, Meituan fell by nearly 1%, Alibaba and Tencent rose slightly, and JD.com rose by nearly 1%. Education stocks rose strongly. New Oriental Online rose by more than 26%, New Oriental and Siile Education rose by more than 6%, and China Education Holdings rose by nearly 4%. Some shipping stocks strengthened, with COSCO SHIPPING Holdings up over 6%, Orient Overseas International up over 2%, and Pacific Shipping up nearly 1%. Some home appliance stocks rose, Haier Smart Home rose more than 5%, Skyworth Group and JS Global Life rose more than 2%. Coal stocks narrowed their losses in the afternoon. China Coal Energy fell more than 4%, Yankuang Energy and Yancoal Australia fell more than 2%, and China Shenhua fell nearly 2%. Pharmaceutical stocks generally fell, BeiGene fell nearly 6%, Zai Lab, Ascentage, and CanSino Bio fell more than 4%. In terms of individual stocks, $New Oriental Online (01797.HK)$ soared by more than 26%. The company recently announced its 2022 fiscal year results. As of May 31, the live broadcast e-commerce revenue was 24.6 million yuan, but it did not include the explosion of Oriental selection. stage. $BYD (01211.HK)$ fell slightly. In the first half of the year, the company's revenue was 150.607 billion yuan, a year-on-year increase of 65.71%; its net profit was 3.595 billion yuan, a year-on-year increase of 206.35%. $JD.com-SW(09618.HK)$ rose nearly 1%, and Deutsche Bank raised its target price to HK$354 with a “buy” rating. Zhongsheng Holdings (00881.HK) fell sharply by more than 7% after the performance. The company's revenue in the first half of the year was 86.029 billion yuan, down 1.5% year-on-year; the profit attributable to owners of the parent company was 3.425 billion yuan, down 7.3% year-on-year. $COSCO SHIPPING Holdings (01919.HK)$ rose by more than 6% in the afternoon. The company will release results after the market. Morgan Stanley previously stated that the net profit of COSCO SHIPPING Holdings subsidiary Orient Overseas International doubled year-on-year in the first half of the year, which means annualized return on equity The latter announced an interim special dividend of US$6 per share, which means a dividend payout ratio of 70%. The distribution from OOCL will further improve COSCO SHIPPING Holdings' cash position. $Greentown China (03900.HK)$ rose more than 5%, CITIC raised the company's 2022/2023/2024 core net profit forecast to 2.82/3.11/3.61 yuan, maintaining a "buy" rating; Citi expects the company's earnings growth will be higher than About 10% of its peers, raising the target price from HK$15.9 to HK$18.4.

Southbound Trading Funds

In terms of Southbound Trading, today's Southbound Trading (southbound) net outflow was HK$92 million. Quote source: Futu Niuniu-Opportunities-Market Hotspots-Shanghai-Shenzhen-Hong Kong Stock Connect Hotspots-Southbound Hong Kong Stock Connect Ministry of Finance: Increase the adjustment of macro policies, plan incremental policy tools, arrange ahead, speed up the pace, and strengthen the Ministry of Finance to release the report on the implementation of China's fiscal policies in the first half of 2022. The report proposes that in the next step, the financial department will adhere to the principle of stability and seek progress while maintaining stability, implement the requirements that the epidemic must be prevented, the economy must be stabilized, and development must be safe, and efficiently coordinate epidemic prevention and control and economic and social development, and coordinate development and security. , intensify the adjustment of macro policies, plan incremental policy tools, arrange ahead, speed up the rhythm, and intensify in a timely manner, continue to do a good job of "six stability" and "six guarantees", continue to ensure and improve people's livelihood, and keep the economy operating within a reasonable range . Four departments including the Ministry of Water Resources jointly promote the construction of large-scale water supply projects in rural areas Layout, continue to promote the construction of water source projects, accelerate the construction of large-scale rural water supply projects (including urban water supply pipe network extension projects and water supply projects for thousands of tons of people), improve the level of rural water supply security, and achieve high-quality development of rural water supply. The "Notice" requires that by 2025, the national rural tap water penetration rate will reach more than 88%, and the proportion of large-scale water supply projects covering the rural population will reach more than 60%. Ministry of Finance: Support the vigorous development of renewable energy and ensure energy supply and price stability The Ministry of Finance released a report on the implementation of China's fiscal policy in the first half of the year. The report pointed out that in the second half of the year, financial support for major strategic tasks will be strengthened. Adhere to the problem orientation, continue to promote breakthroughs in key areas of "stuck neck" key core technologies, support enterprises to strengthen technological research and development, and continuously improve their technological innovation capabilities. Support the overall promotion of key tasks of rural development, rural construction, and rural governance, and firmly adhere to the bottom line of ensuring national food security. Implement relevant fiscal and taxation policies to support the coordinated development of Beijing, Tianjin and Hebei, the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, the ecological protection and high-quality development of the Yellow River Basin, and the construction of the Hainan Free Trade Port, to promote coordinated regional development. Support the vigorous development of renewable energy, and support the work of ensuring energy supply and stabilizing prices. Improve the emergency guarantee mechanism, improve the national reserve system and market adjustment mechanism.

Institutional View

  • Lyon: Downgrade $Bubble Mart (09992.HK)$ Target Price to HK$23, Rated Outperform

Lyon issued a rating report, stating that in the first half of the year, Bubble Mart’s sales rose 33% year-on-year, while net profit fell 7% year-on-year, which was better than the profit warning issued earlier (down 35% at most), mainly due to A one-time gain of RMB 59 million was recorded. The bank quoted the management as saying that in the third quarter, both online and offline channels in the mainland have continued to improve. After the gross profit margin in the first half of the year reached 58.1%, the management's guidance for the gross profit margin for this year is over 58%, a high 56.4% of the bank's earlier forecast. Lyon maintains a positive view on the company's medium-term outlook, mainly due to the expansion of overseas markets and the recovery of mainland business, and as consumer sentiment remains sluggish, the bank is waiting for greater visibility of the company's short-term recovery trajectory. The bank raised the company's 2022-24 sales forecast by 1% to 2% and raised its full-year net profit forecast for this year by 17%. The bank lowered its target price from HK$26 to HK$23, maintaining its outperform rating.
  • CICC: Raise the rating of New Oriental Online (01797.HK)$ to outperform the industry, and raise the target price to HK$26
CICC issued a report saying that New Oriental Online recently announced Results for fiscal year 2022, revenue of RMB 899 million, of which revenue from continuing operations was RMB 601 million, a year-on-year decrease of 3.7%; adjusted net loss attributable to the parent was RMB 364 million, of which net profit from continuing operations was RMB 110 million, basically in line with market expectation. The bank believes that the company has completed the transformation and adjustment, and will continue to operate around the live broadcast e-commerce, university business, and institutional business in the future, and will use the live broadcast e-commerce business as the main growth driver. The bank believes that the company's profitability has improved, upgraded its rating to outperform the industry, and raised its target price to HK$26. CICC said that the introduction of New Oriental Online’s revenue forecast for fiscal years 2023 and 2024 is 2.54 billion yuan and 3.28 billion yuan respectively. Taking into account the previous investment, it is predicted that the adjusted net profit attributable to the parent in fiscal years 2023 and 2024 is 760 million yuan and 900 million yuan. Yuan Renminbi.
  • Credit Suisse: Raises $BYD (01211.HK)$ target price to HK$400, maintains outperform rating
Credit Suisse published a research report stating that BYD’s net profit in the first half of the year It grew 206% year-on-year to RMB 3.6 billion, reaching the upper limit of the company's profit forecast and better than the bank's expectations. The growth was mainly driven by the 160% year-on-year increase in the automotive business to drive sales growth and significant changes in financial expenses. The bank pointed out that based on BYD's order backlog of more than 800,000 vehicles, it is expected that the company will sell about 170,000 vehicles in August, a record high, an increase of about 150% year-on-year. Given that BYD Denza D9 pre-sold more than 40,000 units, of which more than 10,000 units were uncancellable orders, the bank expects the company to sell up to 480,000 units in the third quarter, driving quarterly profit to a record high of 5 billion yuan. In addition, considering that the company's gross profit and order backlog are both better than expected, Credit Suisse raised its net profit forecast for fiscal years 2022 to 2024 by 17.9% to 40.1%, and the H-share target price was raised from HK$380 to HK$400, maintaining an outperform rating. Editor/somer risk reminder: The views of the authors or guests shown above have their own specific positions, and investment decisions need to be based on independent thinking. Futu will endeavour but cannot guarantee the accuracy and reliability of the above content, and will not be liable for any loss or damage arising from any inaccuracies or omissions.

(Responsible editor:Stock market)