Driven by big consumption, A shares rebounded across the board.
On Wednesday, the three major A-share indexes rebounded across the board, and the Shanghai Composite Index rose 1.9 1%, reaching the 10 daily line. The two cities showed a unilateral upward trend throughout the day, and the transaction volume was enlarged. As of the close of the day, the Shanghai Composite Index closed at 2938.68 points, up 1.9 1%, with a turnover of 226.3 billion. Shenzhen Component Index closed at 9259.03 points, up 2.44%, with a turnover of 286.5 billion. Growth enterprise market closed at 1528.69 points, up 2.28%, with a turnover of 81600 million. Yesterday, there were *** 1 14 stocks and 16 stocks in the two cities.
On the disk, the concept of artificial meat strengthened again, with the daily limit of Shuangta Food (00248 1), Fengle Seed Industry (0007 13), Aipu, Weiwei (600300) and Jinjian Rice Industry (600 127). The liquor sector led the China Legion all day, with an increase of 5.97%. LU ZHOU LAO JIAO CO.,LTD (000568) daily limit, Wuliangye (000858), Yanghe (002304), Gu Jing Winery (000596) and Jin Shiyuan (603369) all rose by more than 7 points, and Wuliangye closed at 109. The heat of the planting and forestry sectors has not diminished, and Fengle Seed Industry has once again had a daily limit of 8 times in a short period of time.
It is worth mentioning that at 5: 00 am on May 14, Beijing time, the evaluation results of MSCI semi-annual index were officially released. MSCI announced that it will increase the inclusion factor of China A shares in MSCI Emerging Markets Index from 5% to 10%. Analysts pointed out that with the implementation of the plan to increase the proportion of MSCI shares to 20%, it is expected to bring 460 billion yuan of incremental funds to A-shares throughout the year, and consumer stocks with higher foreign shareholding will directly benefit from this positive.
Judging from the progress of MSCI disclosure, the A-share inclusion factor will be promoted in three steps. Among them, the expansion in May this year was the first step, and the inclusion factor of large-cap A shares was increased from 5% to10% during the semi-annual index review; With the implementation of "Three Steps" in August and June, it is estimated that MSCI Emerging Markets Index will include 253 large-cap A shares and 168 mid-cap A shares. The agency predicts that FTSE Russell will be included as scheduled, and the incremental foreign investment this year will be about 500 billion yuan. Guo Sheng Securities said that large consumption is a typical local advantage industry, and it is also the main direction for foreign capital to increase its holdings for a long time. In the future, foreign investment will continue to favor the big consumption sector.
The leading consumer is expected to run out.
Since the beginning of this year, large consumer sectors such as food and home appliances have been relatively stable and become the darling of the market. Wind data shows that from the beginning of the year to May 8, food and beverage, household appliances, electronics and pharmaceuticals rose by 44.70%, 34.30%, 23. 17% and 22.80% respectively, which outperformed the increase of Shanghai Composite Index in the same period and was also at the upstream level in 28 first-class industries. In the recent severe market shock, the above-mentioned sectors also showed some resilience and relative resilience.
Guotai Junan said that foreign investment is relatively fixed in industry preferences and continues to prefer household appliances, food and beverage, medicine and electronics; At the level of stock selection, foreign capital will continue to flow into stocks with large market value and high ROE in the future.
Guangfa Fund believes that China's consumer industry is one of the most competitive industries in the world, and per capita income growth, demand improvement and consumption structure changes will become the long-term driving force for the sustainable growth of consumer enterprises. Nord Fund believes that the mass goods industry benefits from consumption upgrading, and leading companies are expected to continue to increase their market share by virtue of their advantages such as brand, scale and channels.
Some analysts pointed out that the consumer industry has always been the birthplace of bull stocks. Not only the A-share market has shown this trend, but also the American market has proved this trend. The consumer sector is one of the best performing sectors in the S&P 500 in the past 30 years.
Public Offering of Fund prefers big consumption.
In the first quarter, Public Offering of Fund's position also changed. Among the heavy positions of stock funds and hybrid funds, food and beverage, non-bank finance, agriculture, forestry, animal husbandry and fishery industries increased their positions by 2.94%, 1.30% and 1.26% respectively. Banks, building decoration, public utilities and other industries reduced their positions by 1.7 1%, 1.40% and 0.87% respectively.
Judging from the heavy positions of equity funds and hybrid funds in the first quarter, food and beverage, medicine and biology, and non-bank finance are the top three industries in Public Offering of Fund, accounting for 14. 19%, 1 1.5 1% and/kloc-0, respectively. Iron and steel, general motors, textiles and clothing are the last three industries in Public Offering of Fund, accounting for 0. 16%, 0.29% and 0.39% respectively.
Lei Xin, a researcher at Good Buy Fund Research Center, believes that in the first quarter of this year, the scale of mixed-stock funds increased by a large margin. As a whole, mixed-stock funds preferred large consumer sectors such as food and beverage, medicine and biology, non-bank finance, agriculture, forestry, animal husbandry and fishery, and China Ping An, Kweichow Moutai and Wuliangye remained the heavyweight stocks in Public Offering of Fund. In terms of bond funds, the position of convertible bonds rose as a whole, the proportion of interbank certificates of deposit declined, and the leverage ratio of medium and long-term pure debt funds showed a slight upward trend.
In the specific sector, 1 was stimulated by the policy, and the large consumption sector became a hot spot in the market, with home appliances leading the rise throughout the month; In February, the concept of 5G continued to ferment, the TMT plate was hot, and the electronics, computer, communication and media industries were among the top gainers. Driven by the increase in pig prices in March, agriculture, forestry, animal husbandry and fishery became the best performing industry sector. From the whole first quarter, the computer, agriculture, forestry, animal husbandry and fishery, food and beverage industries ranked in the top three, with index returns of 48.46%, 48.42% and 43.58% respectively.
Why does Public Offering of Fund favor the big consumption sector? Li Yaozhu, deputy general manager of the international business department of Guangfa Fund and the proposed fund manager of Guangfa's consumption upgrade, believes that China's consumer industry is one of the most competitive industries in the world, and per capita income growth, demand increase and consumption structure change will become the long-term driving force for the sustained growth of consumer enterprises. In the last two years since March, 20 17, the industries in which foreign capital prefers to flow are highly concentrated, and large consumption such as food and beverage, household appliances, medicine and biology are the most popular. In the secondary industry, the proportion of positions held by white electricity and liquor has an absolute advantage in their respective primary industries.
Looking into the future, Gao Nan, multi-strategy fund manager of Guotai Rongan, said that in the long run, China's economy is a process of continuous optimization of industrial structure and continuous improvement of profitability, and it will continue to be optimistic about agriculture, TMT and consumption leaders. Li Yaozhu believes that the second expansion of MSCI will be ushered in May this year. In the medium and long term, the degree of foreign participation in A-shares will continue to increase, and the persistent preference of institutions for leading consumer enterprises is expected to further improve the valuation level of the consumer sector.
Gold nugget point
Wuliangye (000858)
On May 10, Wuliangye officially held the 20th18 Annual General Meeting of Shareholders in Yibin Headquarters. Through this shareholders' meeting, Wuliangye conveyed the specific planning and layout of listed companies from the aspects of business objectives, distribution channels and brand building. According to reports, Wuliangye achieved an operating income of 40.03 billion yuan in 20 18, a year-on-year increase of 3.261%; Realized a net profit of 654.38+03.4 billion yuan, a year-on-year increase of 38.36%; Exceeded the business plan of 20 17, that is, "strive for a 26% increase in revenue from 20 18". In 20 19, Wuliangye's revenue target will be further increased by10 billion yuan to 50 billion yuan.
In the secondary market, Wuliangye's share price continued to close in the recent continuous decline of A shares, and many brokerage analysts intensively gave "buy" and "recommendation" ratings. China Merchants Securities released Wuliangye research report, which pointed out that the reform was accelerated, the channel dividend was concerned, and the target price was raised to 130 yuan. Since the promotion of marketing organization reform at the beginning of the year, the company has entered a critical period. Supported by strong implementation, the company hit the key point of the direction, the reform landed in an orderly manner, and the channel confidence rebounded. Need to pay attention to the dividend release after channel circulation. The EPS forecast for 19-20 years is raised to 4.47 yuan and 5.49 yuan (4.24 yuan and 5.08 yuan before), and the valuation discount is expected to improve gradually. Given 24 times PE in 20 years, the target price is raised to 130 yuan.
LU ZHOU LAO JIAO CO.,LTD Limited (000568)
The performance of LU ZHOU LAO JIAO CO.,LTD Co., Ltd. reached a new high. On April 25th, LU ZHOU LAO JIAO CO.,LTD Co., Ltd. released the annual report of 20 18 and the quarterly report of 20 19. The company's operating income in 20 18 years1305.5 billion, up by 25.6% year-on-year; The net profit attributable to shareholders of listed companies was 3.486 billion, a year-on-year increase of 36.27%. In the first quarter of this year, it achieved revenue of 465,438+69 million, a year-on-year increase of 23.72%; Net profit attributable to shareholders of listed companies151500 million, up 43.08% year-on-year.
This is the best achievement of LU ZHOU LAO JIAO CO.,LTD Co., Ltd. since its establishment. The last revenue peak created by this company was 65,438+065,438+056 million yuan in 2065,438+02. After that, the industry entered a downward cycle, and the performance of LU ZHOU LAO JIAO CO.,LTD Stock Company also went down all the way. It was not until 2065,438+07 that its revenue rose again to10 billion yuan.
At present, LU ZHOU LAO JIAO CO.,LTD Co., Ltd. is cleaning up the brand, raising the price, and deleting more than 90% of product bar codes. The company concentrates resources on developing several major projects such as Guojiao 1573, LU ZHOU LAO JIAO CO.,LTD and Jiaoling Liquor. Starting from 20 19, LU ZHOU LAO JIAO CO.,LTD Co., Ltd. also raised the price of the above major items, hoping to further enhance the profit margin of products and establish the high-end image of the brand as a whole.
On the secondary market, on May 15, LU ZHOU LAO JIAO CO.,LTD Co., Ltd. had a daily limit. According to the data of the Dragon and Tiger List, Shenzhen Stock Connect bought 348 million yuan and sold 272 million yuan at the same time, all of which were in the position of buying one and selling one seat. The seats of the three institutions bought a total of 1.5 1 billion yuan, and the Shaoxing business department of Galaxy Securities bought 551.60 billion yuan.
Yili stock (600887)
On April 25th, Yili released the first quarter performance report of 20 19. The report shows that Yili's total operating income in the first quarter was 2310.3 billion yuan, up1.71%year-on-year; The net profit was 2.28 billion yuan.
As Pan Gang, Chairman of Yili Co., said, the sustained high growth performance benefits from the construction of Yili's healthy ecosystem. By gathering high-quality resources from global innovation, market, talents and nature, Yili Co., Ltd. has become a multi-category planner across the big health field, a leader in promoting the development of the health food industry, and a health food provider worthy of consumers' trust, realizing new ecology and new value in the health field.
Behind Yili's sustained high performance is the increasing penetration of its brand. According to the data of China urban indoor sample group of Kaidu Consumer Index, the market penetration rate of Yili in the first quarter of 2065438+2009 was 64.3%, which was much higher than the growth rate of industry penetration rate. At the same time, Yili's comprehensive market share has steadily increased, reaching 25.6%, ranking first in Asia and continuing to lead the industry.
Among them, the income growth rates of Yili's main products, Jin Dian and Amuxi, are 20.5% and 25.5%, while the growth rates of main competitors, Telunsu and Innocent, are 65,438+00.0% and 65,438+065,438+0.7% respectively. The layout of new products and new marketing channels continued to exert its strength on 20 19, which made considerable contributions to the company's income and profit, and the growth momentum was strong.
Gree Electric (00065 1)
Gree Electric recently disclosed the 20 18 annual report, and the company realized a total operating income of 200.024 billion yuan, up 33.33% year-on-year; The net profit returned to the mother was 26.203 billion yuan, a year-on-year increase of 65,438+06.97%. After the dividend was suspended on 20 17, the annual dividend plan of Gree Electric was restarted on 20 18. The company plans to distribute cash bonus 15 yuan (including tax) to all shareholders for every 10 share, totaling 9.023 billion yuan. If the dividend plan of 36 1 billion yuan in the semi-annual report of 20 18 is added, the accumulated dividend of Gree Electric in 20 18 exceeds12.6 billion yuan, setting a record for the company's annual dividend. Since the listing of 1996, the accumulated dividend will be as high as 54.425 billion yuan.
The head effect of the air conditioning industry is constantly strengthening. From the growth rate of revenue and net profit, Gree Electric is significantly ahead of the industry data. According to the data of China Household Electrical Appliances Association, the main business income of household electrical appliances industry in 20 18 was 1.49 trillion yuan, up 9.9% year-on-year; The profit was 654.38+022.55 billion yuan, a year-on-year increase of 2.5%.
In terms of new energy, the company will promote the research and innovation of new energy technologies, improve the reliability of photovoltaic products, master the core integration of industrial energy storage systems and energy dispatching control technologies, and further develop overseas markets. Expand the business field of renewable resources, deepen the research on renewable resources technology, concentrate resources and technological advantages, and promote high-quality development and ecological environment protection.
This article comes from Investment Express.
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