GEM letter

Securities Times News, Zhongtai Securities pointed out that the market as a whole in June may still be mainly adjusted, emphasizing the priority of defense. It is recommended to pay attention to the pharmaceutical sector, national security sectors such as military industry and semiconductors, as well as the main lines of public utilities such as central enterprises such as electric power. Specifically: 1) medicine, the long-term complex impact of the epidemic on society and the increase in residents’ demand for medical treatment under the influence of aging and the country’s subsequent investment in medical resources have accelerated, making it possible for businesses including traditional Chinese medicine, medical equipment, OTC, and pharmacies to The prosperity of the pharmaceutical sector can run through the whole year without policy stimulus or even a longer period. Traditional Chinese medicine, OTC and other pharmaceutical varieties can be gradually deployed when they are adjusted; focus. The above-mentioned sectors have undergone adjustments, and the current relevant policy orientation has been continuously strengthened. The growth rate of military expenditures this year has maintained a steady growth, superimposed on the security of the supply chain and the catalysis of the reform of state-owned enterprises by military industry groups, and there may be greater structural opportunities in the military sector; the security sector such as semiconductors may have greater policy support, forcing the localization rate to further increase ;3) A new round of state-owned enterprise reform has kicked off, and the leading central enterprises with low valuations and high dividends are still in the “depression” of A-share valuations, and the realization of value is expected to reshape the valuation of central enterprises; 4) Under the impact of the epidemic and the downward impact of real estate, consumption And the new infrastructure may be under pressure, policy changes may stimulate consumption and new infrastructure, domestic products, snack foods, and small household appliances that are less elastic corresponding to the middle and low-income class are expected to benefit, and we can pay attention to the reversal of the plight of mass consumption” Layout opportunities.

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According to the e-company news from the Securities Times, the three major A-share indexes fluctuated at low levels in the morning. As of the midday close, the Shanghai Composite Index fell 0.58%, the Shenzhen Component Index fell 0.12%, and the ChiNext Index fell 0.21%. On the disk, the pharmaceutical sector strengthened across the board, the concept of new crown drugs rose sharply, Hanyu Pharmaceutical, Nuotai Biological, etc. rose by more than 10%, and stocks such as Zhongsheng Pharmaceutical and Xinhua Pharmaceutical rose by their daily limit. CPO concepts, building materials, POE film, integrated die-casting, TOPCon batteries, HJT batteries, commercial chains, textiles and apparel, and other sectors also saw the largest gains, while shipping, insurance, telecom operations, virtual power plants, banks, and Chinese prefixes saw the largest declines. Stocks in the two cities fell more than rose, and more than 2,600 stocks fell.

Disclaimer: The Securities Times strives for truthful and accurate information, and the content mentioned in the article is for reference only and does not constitute substantive investment advice, so operate at your own risk

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According to the latest strategy report of China Securities Times, the recent economic data continue to point to a weak economic recovery. In April, the industrial added value, social zero, and fixed asset investment all fell short of expectations. The accelerated depreciation of the renminbi fell below the 7.0 mark. , the market is waiting for the policy to increase. The short-term market is expected to continue to find the bottom, and the main line adjustment is not complete.

Taking history as a mirror, counter-economic cyclical assets (stable/technology) performed better during periods of rapid decline in the RMB exchange rate in the past 18 years. Economic fundamentals are negatively correlated or have a low degree of correlation. The recent low-level market rotation is performed as scheduled. Before the short-term domestic and overseas macro expectations are further clarified, the market is expected to still focus on the defensive strategy with low wind bias and heavy odds, focusing on independent cyclical sectors with policy expectations, focusing on durable large items Consumer goods such as new energy vehicles and home appliances; industrial motherboards and semiconductor equipment that benefit from self-controllable, structural upgrades, and electricity that has seen a significant counter-cyclical profit recovery; in addition, among counter-cyclical assets, emphasis is placed on electronics that are expected to catalyze an inflection point in the near future. Industry concerns: electronics, home appliances, new energy vehicles, industrial machines, robots, semiconductor equipment, electricity, etc.

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According to news from the Beijing Municipal Bureau of Economy and Information Technology, Beijing intends to organize the implementation of the “Beijing General Artificial Intelligence Industry Innovation Partnership Program” and recruit members of the partnership program through multiple channels. Through invitations from relevant departments, self-recommendations by enterprises, recommendations from industry organizations, etc., extensively recruit members of the partner program, form a list of members of the partner program, give full play to the resource advantages of the members of the partner program, and help accelerate the iteration of large-scale model development and popularization and application. Increase financial support. Use high-tech industry development funds to support the development of the general artificial intelligence industry, and promote the construction of computing power infrastructure, data circulation transactions, and key technology research and development. Make full use of high-tech development funds, increase investment in the general artificial intelligence industry, actively introduce social capital, encourage the establishment of general artificial intelligence industry funds, and increase investment in enterprises.

Disclaimer: The Securities Times strives for truthful and accurate information, and the content mentioned in the article is for reference only and does not constitute substantive investment advice, so operate at your own risk

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Securities Times News, Huaxi Securities pointed out that in the short and medium term, concerns about the U.S. banking crisis have resurfaced, and signs of an economic slowdown have become increasingly clear. Higher interest rates will further increase the risk of recession, and the current interest rate hike may have come to an end. From the perspective of the gold price framework, “credit hedging + inflation resilience” dominates the general direction of gold prices, and gold prices still have a basis for long-term price rises; in terms of medium-term driving factors, the suppression of gold’s financial attributes has weakened as the interest rate hike comes to an end. Under the general trend, The price of gold is still upwardly resilient, and it is recommended to pay attention to gold investment opportunities. Beneficiary targets: Zhongjin Gold, Zhaojin Mining, Shandong Gold, Yintai Gold, Chifeng Gold.

Disclaimer: The Securities Times strives for truthful and accurate information, and the content mentioned in the article is for reference only and does not constitute substantive investment advice, so operate at your own risk

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