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A quick look at the Hong Kong market | Hong Kong stocks fell in the afternoon, auto stocks performed well, and Weilai rose nearly 17%

time：2023-03-24 01:58:04 source：clevelanddrifters.com author：Aerospace stock

A quick look at the Hong Kong market | Hong Kong stocks fell in the afternoon, auto stocks performed well, and Weilai rose nearly 17%

Futu Information, September 13 | Hong Kong stocks opened slightly higher today, but fell back in late trading. As of the close, the Hang Seng Index closed down 0.18%, the Hang Seng Index fell 0.2%, and the HSCEI rose 0.07%. As of the close, Hong Kong stocks rose 946 stocks today, fell 908 stocks, and ended flat at 1054 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 Baba rose by 1.56%, NetEase and Station B rose slightly, Kuaishou fell by nearly 2%, and JD.com fell by more than 4%. The auto stocks that have been falling continuously rebounded recently, and Weilai rose nearly 17%, the most eye-catching performance. Stimulated by the popularity of iPhone 14 reservations and the surge in Apple's stock price, Apple's concept stocks rose, and BYD Electronics rose by more than 6%. Pork prices rose 22.4% in August, and pork concept stocks were in demand. The double festival drove consumption to pick up, and catering stocks, tourism stocks, sporting goods stocks, aviation stocks, gambling stocks, and beer stocks rose one after another. U.S. President Biden is preparing to sign an executive order to help the development of the U.S. bio-manufacturing industry, and pharmaceutical outsourcing stocks fell across the board. Electricity stocks made a major correction, while home appliance stocks and coal stocks were sluggish throughout the day. In terms of individual stocks, $NIO-SW(09866.HK)$ surged nearly 17%. After the results, US stocks rose for four consecutive years. The delivery guidance for the third quarter exceeded 30,000 vehicles. $ANTA SPORTS (02020.HK) $ rose nearly 4%, leading the sports goods sector to rise, and was rated as "buy" by institutions as high as HK$106.8. $XD (02400.HK)$ rose by more than 7% in the afternoon. The agency said that the normalization of the version number has been issued, and the industry valuation is at a historically low level. $Wynn Macau (01128.HK)$ rose by more than 6%. Wynn Resorts (Macau) Co., Ltd., a wholly-owned subsidiary of the company, submitted a bid for gaming approval to the government of the Macau Special Administrative Region of China on September 13. $Yongtai Bio-B(06978.HK)$ rose nearly 39%, with a net purchase of over 2.25 million shares through Shenzhen-Hong Kong Stock Connect. The National Medical Insurance Administration recently announced the preliminary review list for the adjustment of the National Medical Insurance Catalogue in 2022, and WuXi Junuo's CAR-T product, Ruiki Orenza Injection, was included in the list. $WuXi Biologics (02269.HK)$ fell nearly 20%, $WuXi PharmaTech (02359.HK)$ fell nearly 17%, it is reported that US President Biden will sign an executive order to increase the production of US biotechnology industry. For assistance, WuXi PharmaTech responded that the company's business and operations are all normal. The stock price of Lepu Bio-B(02157.HK)$ tumbled more than 42% to HK$14.5, with a market value of HK$24.062 billion. The company closed up more than 283% last Friday.

Southbound Stock Connect Funds

In terms of Hong Kong Stock Connect, the net inflow of Hong Kong Stock Connect (southbound) today was HK$2.12 billion. Quote source: Futu Niuniu-Opportunities-Market Hotspots-Shanghai-Shenzhen-Hong Kong Stock Connect Hotspots-Southbound Hong Kong Stock Connect China's challenges in biotechnology," the Ministry of Foreign Affairs said. Chinese Foreign Ministry spokesman Mao Ning hosted a regular press conference on September 13. A reporter asked at the meeting: According to reports, US President Biden signed an executive order on the 12th to launch the National Biotechnology and Biomanufacturing Initiative to reduce the United States' dependence on foreign countries and ensure that the United States can convert all inventions into products. capacity to respond to China's challenges in biotechnology. Does the spokesperson have any comment on this? "Please ask the competent authorities about specific issues," Mao Ning said. As a principle, what I want to say is that economic globalization is an objective fact and a historical trend. We hope that the U.S. side will respect the laws of the market economy and the principle of fair competition. Artificially hinder global scientific and technological exchanges and trade. SNE Research: In the first half of the year, the global power battery market size was about 300 billion yuan, and the Korean market share was 26%. According to the data released by the energy market research agency SNE Research on the 13th, the global power battery market size in the first half of this year reached 59 trillion won (approximately RMB 2967). 100 million yuan), of which the sales of three Korean companies, LG New Energy, SK On, and Samsung SDI, accounted for 26%. In terms of market share, China's CATL (30%, 17.9 trillion won) ranks first, LG New Energy (14%, 8 trillion won) ranks second, followed by China's BYD (9%, 8 trillion won) 5.3 trillion won), Samsung SDI (7%, 4.1 trillion won), Japan's Panasonic (5%, 3 trillion won), SK on (5%, 2.8 trillion won). China Index Research Institute: The property market during the Mid-Autumn Festival holiday was sluggish, and the transaction area of new houses fell by more than 30% year-on-year. During the Mid-Autumn Festival holiday in 2022 (September 10-September 12), the transaction area of newly-built commercial residential buildings in key monitored cities decreased by 31.6% compared with the Mid-Autumn Festival holiday last year (September 19-September 21). In some cities, such as Shenzhen, Shanghai and other cities, driven by factors such as the optimization of the policy environment and the effective control of the epidemic, the market activity has slightly improved. However, the transaction volume of new houses in many cities has still dropped significantly compared with last year's Mid-Autumn Festival holiday. Changsha, Xining, Nanjing and other places The decline is more than 70%. The Inner Mongolia Autonomous Region Energy Bureau issued a notice on strengthening the implementation of coal supply guarantee measures. The Inner Mongolia Autonomous Region Energy Bureau issued a notice on strengthening the implementation of coal supply guarantee measures, which mentioned that all leagues and cities will fully implement the extension of the joint trial operation of coal mines and the full production capacity. Production, production capacity index replacement commitments, organize production and go through formalities, land use and other production increase measures, and strive to increase coal production. The “one-size-fits-all” shutdown of coal mines in the region shall not be implemented for any reason, and shall not affect the normal production of coal mines. The medium and long-term contracts signed by coal production and operation enterprises and users must strictly implement relevant national regulations, and the performance rate must meet the requirements. Resolutely crack down on various violations that affect the normal order of supply guarantee, such as disguised price increases and decreases, contract cancellation without consent, false signing of contracts, failure to report performance information on time, and non-performance without legitimate reasons. Development and Reform Commission: This week, the second batch of central pork reserves will be released this week, and the investment will be further increased if necessary. According to the current situation of the live pig market, in order to effectively ensure the supply and price stability of the live pig market, the state will release the second batch of central pork this year this week. reserve. In the next step, the National Development and Reform Commission will continue to pay close attention to the supply, demand and price situation of the live pig market with relevant departments, actively organize and carry out the adjustment of pork reserves, and further increase the investment when necessary. It is recommended that farms (households) make reasonable arrangements for production and operation decisions, maintain a normal slaughtering rhythm, and release fattening pigs according to the trend.

Institutional View

CITIC Securities: Maintain $NIO-SW (09866.HK)$ Buy rating, target price of HK$181 CITIC Securities issued a research report saying that it maintained NIO-SW "Buy" rating, It is expected to turn losses into profits by 2024, with a GAAP net profit of 1.3 billion yuan and a target price of HK$181, which is expected to be revalued. The bank believes that the listing volume of the company's NT2.0 platform products (especially ET5) is expected to gradually dispel market concerns. According to the report, compared with the competition pattern of fuel vehicles, the concentration of the luxury vehicle electric vehicle market in which NIO is located is even higher, and will continue to expand in the long term thanks to consumption upgrades. Morgan Stanley: Raise the target price of BYD Electronics (00285.HK) $ to HK$28, Sunny Optical Ratings "overweight" Morgan Stanley released a research report saying that the rating of BYD Electronics was raised to "overweight", and the target price was raised from HK$17 It rose to HK$28 as its new electric vehicle business offers significant growth potential and investors' lower expectations reduce near-term earnings risks. In addition, maintain the "overweight" rating of Sunny Optical, and reduce the target price from HK$150 to HK$135, but it has a good exposure to non-smartphone business. The market's bearish view on the smartphone industry is a broad consensus. The bank believes that there is no possibility of recovery in the industry before the first half of next year, so it is expected that the catalyst for the smartphone-related sector will be limited in the short term. Everbright Securities: Maintain the Buy rating of New Oriental Online (01797.HK)$, Orient Selection still has upside in the future. Everbright Securities issued a research report saying that it maintained the "Buy" rating of New Oriental Online. The income of college education and institutional business is expected to remain stable. The live broadcast content and product supply chain are of high quality, and the e-commerce business is on a rapid growth track. It is predicted that the operating income in the 2023-25 fiscal year will be 2.516/3.021 billion yuan/3.437 billion yuan, and the net profit attributable to the parent is 5.4/7.6/990 million yuan. Considering that the company will gradually establish a self-operated consumer goods brand in the future and create a more viable business model, the medium and long-term performance growth is expected to be maintained, and the valuation will be boosted. The bank believes that the company's 2024 fiscal year net profit is expected to reach 660-810 million yuan, which is far from the end. Macquarie: Reduced the target price of $Bilibili-SW(09626.HK)$ from HK$197.3 to HK$159.4, maintaining a neutral rating. Macquarie issued a report saying that Bilibili’s non-U.S. in the second quarter of this year Generally accepted accounting principles (non-GAAP) net loss widened to 2 billion yuan year-on-year, which was worse than the bank and market expectations. The bank believes that Bilibili seeks to transform from niche animation, comics and games (ACG) into a full-scale platform, so it sees the risk of continued losses for the group, but still believes it is ready to ride on the fast-expanding film in the mainland A hitchhiker of the market. The bank expects Bilibili's revenue growth to improve in the third quarter, and overall revenue is expected to increase by 12% year-on-year. It is expected that the company will have further room for growth in expanding users and engagement. Macquarie lowered the target price of Bilibili shares from HK$197.3 to HK$159.4, with a neutral rating. Editor/new Risk Warning: The views of the authors or guests shown above have their own specific positions, and investment decisions should 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：Garbage)

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