On September 6, A-shares fluctuated throughout the day, with the three major indexes rising and falling mixedly. At the close, the Shanghai Composite Index rose 0.12% to 3158.08 points; the Shenzhen Component Index fell 0.24% to 10515.21 points; the ChiNext Index fell 0.47% to 2101.4 points. The total transaction volume of Shanghai and Shenzhen stock exchanges was 771.3 billion yuan, a decrease of 32.6 billion yuan from the previous trading day. Northbound funds made a small net purchase of 41 million yuan throughout the day, of which the Shanghai Stock Connect net sales were 1.761 billion yuan and the Shenzhen Stock Connect net purchases were 1.802 billion yuan.
On the disk, Huawei's concept stocks continued to be active, and more than 10 individual stocks such as Huali Chuangtong, Jierong Technology, and Huaying Technology had daily limit; chip stocks strengthened across the board, led by photoresist, Yangfan New Materials, Rongda Photosensitive, Lanying The daily limit of equipment is 20%; satellite navigation concept stocks also rose sharply, Zhenyou Technology and Tianmai Technology gained 20% daily limit; game media stocks fell into adjustment, Yingying Network and Glacier Network fell by more than 5%; the port and shipping sector continued to fall , COSCO Shipping fell more than 7%, followed by Haitong Development, China Merchants Shipping and others.
Huawei's industrial chain continues to surge
Yesterday, Huawei's industrial chain stocks strengthened again. By the close of trading, Huali Chuangtong hit the daily limit of 20%, and Jierong Technology gained 6 consecutive shares. During this period, Huali Chuangtong gained nearly 113% in seven trading days. On the news, on the evening of September 5, Huali Chuangtong announced that the total amount of orders received by the company from a certain customer in the past year was about 210 million yuan, exceeding 50% of the company's main business income in 2022.
Recently, Huawei launched its flagship mobile phone Mate 60 Pro, which continues to attract market attention. Guo Mingqi, chief analyst of TF Securities International Research Department, believes that the demand for Huawei Mate 60 series is very strong. The cumulative sales volume of Huawei Mate 40 Pro after 12 months of sales is about 6 million units; it is estimated that Huawei Mate 60 Pro may only need 4 units. This number can be reached every month. According to this market trend, the cumulative shipments of Mate 60 Pro after 12 months of sale are expected to reach at least 12 million units.
In addition, because the Huawei Mate 60 series supports satellite calls, "satellite communication" has also become one of the hot topics in the market recently, and the concept of satellite navigation became stronger yesterday. At the close of trading, Opp Optoelectronics hit the daily limit, with Tianyin Electromechanical and Hangyu Micro being among the top gainers.
CITIC Securities stated that with the fierce competition among countries for space resources, the strategic value of the satellite industry has become prominent. It is expected that during the "14th Five-Year Plan" period, my country's satellite launches will continue to advance rapidly, catalyzed by multiple factors such as national policies, technological upgrades, and external events. The core component links in the upstream of the industrial chain as well as the user terminals and application service industries in the middle and downstream will benefit deeply.
Chip concept strengthens across the board
The chip concept strengthened across the board yesterday, with the direction of photoresist leading the gains, and Rongda Photosensitive, Yangfan New Materials, Guangxin Materials, etc. all rising by the limit. The organization believes that the launch of Huawei Mate 60 Pro is expected to further stimulate the recovery of mobile phone terminal demand and stimulate the recovery of chip demand.
CITIC Securities stated that Huawei’s new machine verifies the active trend of localization and substitution in the domestic chip industry. With the continuous breakthrough and development of domestic chip technology, semiconductor upstream and downstream manufacturers have begun to reduce their dependence on imported technology, supply chain stability and independent controllability. With steady progress, the domestic semiconductor industry chain will usher in serious opportunities.
On the news, on September 5, the "Electronic Information Manufacturing Industry Stable Growth Action Plan 2023-2024" jointly issued by the Ministry of Industry and Information Technology and the Ministry of Finance proposed that from 2023 to 2024, the production of computers, communications and other electronic equipment The average growth rate of industry added value is about 5%, and the operating income of enterprises above a certain size in the electronic information manufacturing industry has exceeded 24 trillion yuan.
CDB Securities believes that as the policy benefits continue to be released, the A-share market valuation recovery is expected to begin. The negative effects on the performance and reduction of holdings in the semiconductor sector have been fully released. The current sector valuation is at the bottom of the cycle and has high growth potential, and has strong allocation value.
Organizational preference for technological growth style
Looking forward to the market outlook, compared with value stocks, institutions pay more attention to technology development stocks, and most brokerage firms are optimistic about the structural opportunities of subdivided industries in the technology development field.
"The growth style may still be the main line of the market: on the one hand, the growth sector will benefit from improved liquidity margins and rising sentiment; on the other hand, it has relatively strong fundamental support. In addition, considering that the domestic economy has already established At the bottom, and consumption is expected to lead the procyclical direction in the future, it is recommended that investors deploy consumption as a bottom position on the left, such as automobiles, pharmaceuticals, biology, and liquor." said Zhang Chi, chief strategist of China International Finance Securities.
AVIC Securities stated that under the background of the continued fermentation of the policy "combination punch" effect, the A-share market is expected to return to a growth style. The growth rate of semi-annual report results has greatly improved compared with the first quarter and the current valuation is at a relatively low level in history. It is worth paying attention to. Specifically, the investment value of sectors such as electronics, communications, and national defense and military industries with a technology development style may be greater.
Guotai Junan believes that the next stage of technology development stock market will focus on high-end equipment and manufacturing, and recommends investors to pay attention to electronics, machinery, military industry and other sectors. For stable investors, dividend assets with the background of central enterprises and state-owned enterprises, franchise advantages or monopoly positions, less capital expenditure and more dividends are still one of the few choices. They are optimistic about operators, petroleum and petrochemicals, and public utilities. In addition, consumer goods with low stock prices are expected to see trading opportunities.