Teacher’s words
1. Baima fell again
Yesterday, Baima shares Yili shares fell 9%, almost to the limit, with a trading volume of nearly 5.8 billion.
The reason for the sharp decline was the news that Yili shares recently launched an equity incentive plan and prepared to use 183 million restricted shares for the incentive plan, with a grant price of 15.46 yuan/share.
The incentive recipients include a total of 474 current directors, senior executives, and core technology (business) backbones of the company. Chairman Pan Gang received 60.8 million shares, Vice President Liu Chunhai received 10 million shares, Director Yan Junrong received 500,000 shares, and Secretary Qiu Xiangmin 400,000 shares, and the other 469 core personnel received 101 million shares.
Equity incentive is a long-term incentive mechanism implemented by enterprises in order to motivate and retain core talents. It is currently one of the most commonly used methods to motivate employees.
Normally, this kind of behavior will not harm the interests of shareholders, but the company encourages management to perform well. Although the company has granted these stocks at one time, it must achieve performance targets before it can sell the stocks.
But the reason for yesterday's sharp decline was also the company's own doing:
1, this plan obviously took the chairman too much, a total of 180 million shares, and he accounted for one-third.
2, the discount is too high, the premium is 50%, based on yesterday's 30 yuan, double the space. In addition, retail investors look at the current 30 yuan, your cost is only 15, naturally there will be selling pressure.
3. The assessment standard is too low. The net profit growth rate for 2019-2023 is set at 8%, 18%, 28%, 38%, and 48% based on the net profit in 2018. It is set for 2019-2023. The return on equity is 15%. This requirement is too low and is suspected of conveying benefits.
Some people say: 10% of the thunderstorms of listed companies are due to company management problems, and 90% are due to corporate governance problems. If you think about it carefully, it does make sense. Yili's management is too ugly. Even if it is legal and compliant, it is a public company after all, and investors cannot be treated as fools.
2. Science and Technology Innovation Board callback
Science and Technology Innovation Board listing is very crazy. Compared with the main board, it is really a world of ice and fire. However, yesterday, the Science and Technology Innovation Board opened with a plunge, and the fluctuations were very large, especially at 2:30 a.m. The wave dives, with many stocks falling by 18% in an instant, with amplitudes as high as 20%, because it is still in the stage of speculation, and the main reason for the impact is speculation.
We all know that once the stock price fluctuates significantly and the amplitude increases, it means that the chips begin to loosen and the differences increase. It’s not a bad thing if the Science and Technology Innovation Board fell that day, so that funds can flow back to the main board.
Here is a reminder:
Nowadays, the Science and Technology Innovation Board is still a game for a small number of people and is not open to the majority of retail investors. Now many retail investors are very jealous. In the future, the Science and Technology Innovation Board will definitely issue Science and Technology Innovation Board funds, and the Science and Technology Innovation Board fund targets It’s retail investors. Through this hype, and banks, securities companies, and fund companies will definitely publicize it, many people will buy Science and Technology Innovation Board funds. But I want to remind you that once Science and Technology Innovation Board funds become popular, they will often When risks come, retail investors may come in to take over.
[Market Research and Strategy]
It rained all night. After breaking the position at the end of Monday, the US stock market plummeted overnight, and then there was the exchange rate issue. The United States included us in the exchange rate manipulation country, and our agricultural product purchases were also suspended, which was bad. There is a lot of news.
Anyway, the technical side always resonates with the news side. In fact, without these news, the technology is no longer easy to develop, and now we are going through the C wave adjustment process.
What everyone paid more attention to yesterday was that it closed a lower shadow line. Many people said that it was a single-pin bottom. This rebound is a bottom, but if it falls again, it will be a continuation of the decline.
The main line of this wave of decline is Shanghai Stock Exchange 50. Similarly, yesterday's counter draw was also Shanghai Stock Exchange 50, which formed support at the previous low position. Therefore, yesterday's blue-chip white horse was relatively resilient. Shanghai Stock Exchange 50 Pay attention to the two blue necklines. The upper part is the big pressure, and the lower part is the more important support.
From another angle: Yesterday, it just adjusted to 2733 points. The range of 2710-2750 mentioned in my previous article
Yesterday, the lower shadow line of the market had the meaning of stopping the decline, which was a deceleration action, but now it is in a downward trend. It is in a downward trend. The rebound is not too important. If
is optimistic today, it will continue to rebound, but it can easily be blocked. 2820 points is a lot of pressure. Coupled with the suppression of the moving average, the rebound will have to be suppressed.
Therefore, only when the stabilization signal appears can steady players enter the market and do long positions.
The stabilization signal must have a structure, such as the common double bottom structure. The stabilization structure is the result of repeated competition between the long and short parties in the market. It is a process of deceleration. The market must slow down before it wants to bottom out, so it is better to wait patiently. The market's resonance adjustment period is over.
1. Subscription
There are no new share subscriptions and convertible bond subscriptions today
2. Global stock market
3. The latest institutional net buying amount ranking yesterday
(ranking based on the net buying amount of institutional seats on the day)
four , Highlights
〇 The State Council issued the overall plan for the China (Shanghai) Pilot Free Trade Zone Lingang New Area
〇 The Central Bank issued a statement on the U.S. Department of the Treasury’s designation of China as a “currency manipulator”
〇 China suspended the new U.S. Procurement of agricultural products
〇 Ministry of Commerce: The average wholesale price of 6 kinds of fruits dropped by 1% from the previous week
〇 Oil prices dropped: gasoline dropped by 80 yuan per ton, diesel dropped by 70 yuan per ton
5. Major events
● NB-IoT or It will be officially included in the 5G standard, and large-scale commercial use is coming
According to reports, recently, 3GPP officially submitted a 5G candidate technology standard proposal to the ITU-R (International Telecommunications Union). Among them, the low-power wide-area Internet of Things technology NB-IoT was officially included in the 5G candidate technology collection and was jointly submitted to ITU-R with NR as a component of 5G. It is reported that after ITU-R reviews the submitted 5G standard proposal, it will be officially released in 2020. This will mean that NB-IoT can be deployed in NR in-band and support access to the 5G core network; at the same time, the NB-IoT 3GPP standard will continue to evolve and become a key component of 5G mMTC.
comments: NB-IoT has technical advantages such as wide coverage and low power consumption, and can be widely used in a variety of vertical industries. Currently, mainstream operators around the world are accelerating the deployment of NB-IoT and eMTC. According to IoT Analytics, the number of LPWAN links will achieve a compound annual growth rate of 109% from 2017 to 2023. The rapid growth in the number of connections will drive the growth of LPWAN chip shipments, of which NB-IoT chips will gradually occupy the largest share. According to the requirements of the Ministry of Industry and Information Technology, by 2020, the NB-IoT network will achieve universal coverage across the country and achieve in-depth coverage for application scenarios such as indoors, transportation road networks, and underground pipe networks, with the scale of base stations reaching 1.5 million. As NB-IoT is officially included in the 5G standard, large-scale commercial use may be imminent, and companies in related fields will benefit.
Jinka Smart (300349) Company's NB-IoT end-to-end overall solution has passed the comprehensive test of Huawei technology in terms of functionality, performance, reliability and manageability.
Eastcom Peace (002017) Company’s NB-IoT module has obtained relevant product certification qualifications and is commercially available.
● optical lens leader Largan's production capacity is fully loaded, and industry demand is growing against the trend
According to media reports, Largan, the global leader in optical lenses, announced its July revenue of NT$5.473 billion, with a monthly growth rate of 34%. . Looking forward to August, Largan said that production capacity will continue to be fully loaded, and new production capacity will be added one after another, and revenue is expected to be better than in July. Even the entire production capacity in the third quarter has been fully loaded, and some debottlenecking actions will be carried out to expand production.
comments: The industry said that although smartphone sales have declined, as the penetration rate of dual cameras continues to increase, three cameras and even multiple cameras have gradually flourished, making cameras grow against the trend. Institutional data shows that the penetration rate of dual cameras exceeded 40% in 2018, and it is expected that the penetration rate of dual cameras will exceed 60% in 2020. According to Statista’s forecast, the penetration rate of three-shot cameras will reach 24.5% in 2020.The optical lens market still has relatively broad room for growth in the future. Institutions predict that the mobile phone lens market will reach US$4.52 billion by 2020, and related companies are expected to benefit.
Lianchuang Electronics (002036) has successfully developed a three-dimensional face recognition laser collimation lens for the leading domestic H company and applied it to its high-end mobile phones. Currently, the company's glass-plastic hybrid (G+P) 48M/64M high-end mobile phone lenses, 10 The periscope telephoto lens has completed small batch trial production and been shipped.
OFILM (002456) optical lens shipments have steadily increased.
Crystal Optoelectronics (002273) is a supplier of mobile phone lens filters.
● The plan for the new area of the Shanghai Free Trade Zone has been implemented, and reform and innovation have been further intensified.
According to the Chinese Government website, the State Council recently approved the establishment of the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone. The overall plan for the new area was also released today ( August 6) for public release. The "Master Plan" clarifies that the new area will be managed with reference to the special economic zone. It is necessary to establish an institutional system with investment and trade liberalization as the core. On the basis of applying various open innovation measures in the free trade pilot zone, support the new area to promote the liberalization and facilitation of investment and trade focusing on investment freedom, trade freedom, capital freedom, transportation freedom, and personnel freedom of employment.
comments: Shanghai Free Trade Zone, as the "leading goose" in the "flying goose formation" of my country's free trade zones, has formed a series of successful experiences in the past six years of construction. The establishment of a new area in the Shanghai Pilot Free Trade Zone this time is of far-reaching significance compared to the expansion from 2014 to 2015. The intensity of reform and opening up has been taken to a higher level. It is to undertake new tasks and build a more influential and competitive area in the international market. The upgrade of special economic function zones.
Related companies in the region will also benefit from the dividends released by the new round of reform and opening up, such as Oriental Ventures (600278), Shanghai Lingang (600848), SIPG (600018), Shanghai Yashi (603329), etc.
● Spot resources are in short supply, butadiene market prices are rising at a high level
The domestic butadiene market prices are rising at a high level recently. SunSirs monitoring shows that as of August 6, the price of butadiene was 9,645 yuan/ton, an increase of more than 20% from the beginning of May. At present, domestic butadiene prices continue to rise. Sinopec's supply price has reached a high of 10,000 yuan, a small amount of supply in Northeast China has been traded at a wide price increase, and spot resources in East China are in short supply, boosting the market.
comments: The low inventory of supports the continuous increase in supplier prices, and the high-priced spot transactions in the market boost the market and continue to rise. Although the downstream growth rate is limited in the short term, which will have an impact on the mentality of some merchants, there is no pressure on the butadiene supply side for the time being. Industry insiders predict that the domestic butadiene market will continue to be high in the short term.
A-share related concept stocks mainly include Qixiang Tengda (002408), Huajin Shares (000059), etc.
● Detonating the biotechnology revolution, 3D printing produces normal working heart tissue
According to reports, American researchers wrote an article in "Science" magazine that they used the "free-form reversible embedding of suspended hydrogels" (FRESH) technology to Collagen has successfully 3D printed a functioning heart "part". This breakthrough technology is a step closer to 3D printing a full-size adult heart.
comments: Since the advent of 3D printing technology, bioprinting has been a popular direction. It is predicted that by 2025, the global 3D printing market demand will be US$7 billion, half of which is expected to come from the 3D bioprinting field.
A-share related concept stocks mainly include Blu-ray Development (600466), Guangyunda (300227), etc.
● The BRICS countries will strengthen cooperation and create huge space for infrastructure construction in the information field
On August 6, the founding ceremony of the Chinese branch of the BRICS Future Network Research Institute and the Future Network Innovation Forum were successfully held in Shenzhen. The Ministry of Industry and Information Technology stated that this is an important measure to implement the consensus reached at the BRICS leaders’ meeting. China hopes to accelerate the construction of a new industrial revolution partnership with other countries, strengthen multi-field and multi-level pragmatic cooperation in 5G, industrial Internet, digital economy, etc., and open up new Collaboration space to explore new cooperation potential.
comments: According to the "2020 Global Connectivity Plan" adopted by the International Telecommunication Union, 55% of households around the world must have access to the Internet in 2020, and broadband services must cover 90% of the world's rural population. Chinese network equipment manufacturers represented by Huawei are actively implementing internationalization strategies and have strong market competitiveness.
Tongyu Communications (002792) 4G business overseas market revenue increased by 91% year-on-year in 2017 and continued to grow by 50% in 2018. It is currently investing in 5G business research and development;
Feirongda (300602) provides Huawei with options for 5G base stations Sexually electroplated antenna oscillator;
ArcherMind Technology (300598) provides software development services to Huawei.
● Chinese scientists have developed 24 -bit high-performance superconducting quantum processor
, developed a high-performance superconducting quantum processor containing 24 bits, and achieved high-precision quantum coherent control of more than 20 bits for the first time in a solid-state quantum computing system, taking an important step on the road to developing quantum computers.
comments: Currently, the international academic community is studying quantum computing on multiple technical routes, and superconducting quantum computing is considered to be one of the most likely to be practical. As the number of manipulated qubits increases, the computing power of quantum computing will increase exponentially, achieving performance that far exceeds that of traditional electronic computers. Zhang Xia of China Merchants Securities believes that quantum computing can process big data at high speed and will realize the mobileization of artificial intelligence. The main application scenarios include vehicle-mounted intelligent systems, drone intelligent systems, etc.
China Information (000555), Guodun Quantum and Guoxiang Chenrui jointly established China Guoxin Quantum Technology Co., Ltd. to provide quantum communication equipment for quantum communication networks;
Huagong Technology (000988) subsidiary Zhengyuan Photonics has the only domestic An independent semiconductor quantum dot laser chip production line, with multiple invention patents in MO production technology.
6. Policy and industry hotspots
★ NB-IoT may be officially included in the 5G standard, and large-scale commercial use is coming soon
Concept stocks: Jinka Intelligence (300349), Eastcom Peace (002017)
★ Optical lens leader Largan's production capacity is fully loaded, and industry demand is growing against the trend
Concept stocks: Lianchuang Electronics (002036), OFILM (002456), Crystal Optoelectronics (002273)
★ Shanghai Free Trade Zone New Area Plan Implementation, Reform and Innovation Further increase
concept stocks: Oriental Ventures (600278), Shanghai Lingang (600848), SIPG (600018), Shanghai Yashi (603329)
★ Chinese scientists have developed 24-bit high-performance superconducting quantum processing
Concept stocks: China Information (000555), Huagong Technology (000988), Yinlun Holdings (002126), Tianfu Communications (300394)
★ BRICS countries will strengthen cooperation and there will be huge space for infrastructure construction in the information field
Concept stocks : Tongyu Communications (002792), Feirongda (300602), ArcherMind Technology (300598)
★ spot resources are in short supply, butadiene market prices are rising at a high level
Concept stocks: Qixiang Tengda (002408), Huajin Shares ( 000059)
7. Gold rush for individual stocks
◆ Keshun Shares: Plans to repurchase shares for 50 million yuan to 100 million yuan
Shenwan Hongyuan : In July, the parent company achieved revenue of 660 million yuan and a net profit of 2.666 billion yuan. 100 million yuan
◆ Sichuan Road and Bridge: The cumulative bid winning amount from January to July is about 17.649 billion yuan
◆ Longjing Environmental Protection: Net profit in the first half of the year increased by 10.49% year-on-year
◆ CITIC Construction Investment: The parent company’s net profit in July was 6.18 100 million yuan
◆ CITIC Securities : The parent company’s net profit in July was 696 million yuan, a slight increase from the previous month
◆ Founder Securities: The parent company achieved a net profit of 60.2853 million yuan in July
◆ Huatai Securities: The parent company’s net profit in July was 3.53 million yuan. 100 million yuan increased month-on-month
◆ China Galaxy: The parent company’s July net profit exceeded 400 million yuan, a month-on-month increase of 73%
◆ Perfect World: Plans to repurchase shares for 300 million to 600 million yuan
8. News of trading suspension and resumption
[Trading suspended from today] No
[Resumption of trading from today] No
The stock market is risky, so investment needs to be cautious! The above are personal suggestions and are for reference only!
