Source: [Poster News] Dazhong.com Poster News Reporter Shen Tong Jinan reported that on September 5, the weighted stocks in the A-share market were sluggish and the theme stocks were active. The model of blue-chip stocks in the Shanghai Stock Exchange 50 fell to 2676.60 points du

Source: [Poster News]

Dazhong.com Poster News Reporter Shen Tong Jinan reported

September 5th, the weighted stocks in the A-share market were sluggish, and the theme stocks were active. The model of blue-chip stocks in the Shanghai Stock Exchange 50 fell to 2676.60 points during the session, hitting a new low in the year, just one step away from the year's lowest point of 2644.87. From the market perspective, the net outflow of funds was 13.368 billion yuan. There were 2,566 stocks rising and 2,218 stocks falling, showing a slight profitable effect. In terms of the concept sector, oil and gas, coal, Xinjiang revitalization, photovoltaic inverters, western infrastructure, industrial gas, energy overseas, air energy heat pumps, wind power and other indexes led the rise. In terms of funds, the trading volume of the two markets was less than 800 billion yuan for three consecutive trading days, but the Shanghai Composite Index increased significantly compared with last Friday; northbound funds actually sold 7.615 billion yuan. It is worth mentioning that since August, new energy track stocks such as photovoltaics, wind power, and electric vehicles have adjusted significantly, especially in the past two weeks, with a particularly obvious downward trend. Wind data shows that the CSI Mainland New Energy Theme Index has fallen by more than 10% since August. According to statistics on the net value performance of funds in the entire market, among the 20 funds with the highest decline since August, 18 are new energy as the main allocation direction, with a decline of more than 13%, and the decline in the past week has exceeded 8%. Many investors have responded strongly to this, and some investors bluntly said: The losses have surpassed P2P.

New energy theme funds have the highest decline

Is there any negative news in the new energy industry? The market is over? Is this wave of decline a technical adjustment or the end of a bull market in the sector? Before answering the above questions, we might as well sort out the beginning of the new energy industry's market.

html At the end of August, the three departments jointly issued the "Notice on Promoting the Coordinated Development of the Photovoltaic Industry Chain and Supply Chain", proposing to severely crack down on illegal and irregular behaviors such as price gouging, monopoly, and manufacturing and selling counterfeit and shoddy products in the photovoltaic industry. Affected by the news, the overall adjustment of the photovoltaic industry chain was accelerated; while the electric vehicle industry chain basically accelerated after the company's semi-annual report performance was disclosed. However, judging from the semi-annual report data, the performance of listed companies related to the electric vehicle industry chain is quite impressive, and the profit growth rate of power equipment and new energy in the second quarter exceeded 69%. The performance is impressive, why are the stocks of concept companies adjusted?

In this regard, Guosen Securities believes that: "Because the market already holds high expectations for the new energy concept sector, and after this dazzling data came out, the industry leader directly opened high and closed low, which shocked everyone. Of course, Buffett's reduction in holdings of BYD stocks also played a role in fueling the fire at this point in time. But in the end, it is not that the industry has had a problem, but that the market has given too high expectations."

Secondly, it is not difficult to find that by counting the performance of various sectors since the A-share rebounded at the end of April, it is not difficult to find that from April 26 to the present, power generation equipment and new energy are still the sectors with the largest increase, with an increase of as high as 67%, and at one point the entire sector rose by as high as 99.23%. Lexingliang said: "The increase is too large, and adjustments are inevitable."

(Since April, power generation equipment and new energy have still been the largest increase sectors)

In addition, the overall decline of the new energy track is not unrelated to the current major differences among investors about some links in the new energy industry chain.

Sun Haozhong, fund manager of CITIC Prudential Fund, said that in the past month, the market style has mainly focused on small and medium-sized market value, and has paid great attention to high prosperity assets and new technology directions. The internal partialization of the new energy sector is serious, and some equipment companies have reached their target prices, and the sector that is fully attacked is still unclear. Some researchers in the new energy industry also said that recently, Beta's returns in the electric vehicle industry have a tendency to slow down. In addition, the current valuation of the energy storage sector is relatively high, and the new energy industry chain is under certain pressure in terms of globalization. The combination of multiple factors has caused this round of decline in the new energy sector.

However, for the market, industry insiders are generally more active. Taking BYD as an example, after Buffett reduced his holdings in the company's stock twice, most brokerages supported the ratings. According to the reporter's statistics, in the past month, a total of 36 institutions including China Merchants Securities, Anxin Securities, Guosen Securities and JPMorgan Securities have given "buy", "recommended" or "strongly recommended" ratings.

category Xingliang said that the recent rebound of A-shares is expected to continue. Pay attention to the coordination between quantity and price, and in terms of operation, in accordance with the market characteristics of switching between high and low markets, high-valuation track sectors should not blindly buy at the bottom. They should pay attention to the valuation repair opportunities of low-valuation stagnation stocks, such as leading real estate, white goods, securities companies, breeding, supermarket retail, etc.

(Risk warning: Investment is risky, information is for reference only. The listed companies listed above only state that they are related to the event and are not intended as specific recommendations. Investors should make investment decisions independently and bear investment risks on their own.)

This article comes from [Poster News] and only represents the author's views. The national party media information public platform provides information release and dissemination services.

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