Data map

As an important gathering place for the transfer of the domestic electronics industry, emerging market countries such as Vietnam, India, and Malaysia, due to the recent rebound of the new crown epidemic, have caused some factories to suspend operations in some areas, and there is news that industry orders are returning to the country.

A reporter from the Securities Times·e Company found that the current volume of electronic orders returning to China is limited and restricted by factors such as limited production capacity and different division of labor. The corresponding domestic enterprises have limited capacity; on the other hand, due to the epidemic situation and global core shortages, etc. Under the influence, the security of the supply chain has gradually become a consensus, which further catalyzes the diversion, migration, and fluctuation adjustment of electronic products in the international industrial chain.

(As of June 14, 2021, Malaysia, India, Indonesia, Vietnam newly confirmed cases of new crown epidemic data unit per million population data source: Our World in Data)

Reflow of orders but limited production capacity

“There are some overseas orders returning to China, but we are very cautious in taking orders.” As a leading mobile phone contract manufacturer in China, the company has factories in Indonesia and India. Company executives told reporters that these return orders have their own overseas customers as well as other manufacturers’ transfers, but the problem is that the domestic production capacity is now fully loaded.

“Now there is still a shortage of chips such as memory,” the above-mentioned executive told reporters. Due to factors such as the limited capacity of upstream fabs and the stockpile in the industry, the global core shortage problem has not been fundamentally alleviated, which has also affected the ability to receive orders to a certain extent. According to a survey by the market research agency TrendForce, the recent graphics DRAM contract market is still in short supply, and the order fulfillment rate of some small and medium-sized customers is only about 30%. It is expected that this tight supply and demand situation will continue into the third quarter.

In the semiconductor industry, Malaysia and the Philippines have gathered assembly and test production links, including Intel, Texas Instruments, ASE, A-share Tongfu Microelectronics, Huatian Technology, etc., all set up factories there. Recently, these countries have also rebounded from the epidemic. Malaysia has even started Full movement control will be implemented from June 1st.

However, the reporter learned that the semiconductor industry is not restricted by epidemic prevention and control, and local packaging and testing companies and production lines in Malaysia are still running; and the current domestic packaging and testing companies are generally full-loaded and expanded, and their ability to undertake large-scale return orders is limited.

“We can’t accept domestic orders,” the staff of Huatian Technology’s Secretary Office told reporters that the company’s overseas factories are operating normally and have not been affected by the epidemic. In the work deployment in 2021, Huatian Technology will speed up the increase of new production capacity as the top priority to ensure that the company and Malaysia Unisem and other subsidiaries are in place to form production capacity as soon as possible to meet customer needs and effectively expand market share. The company has planned to increase capital of 5.1 billion yuan, which will be used for the expansion of integrated circuit multi-chip packaging projects.

Domestic head electronic component consignment manufacturers also told reporters, “The panic has increased due to the epidemic. According to our understanding, there are not many return orders in the field of electronic components, which is too exaggerated.”

Faced with the impact of the epidemic on production, companies will consider adjusting orders in different regions. Recently, Taiwan’s packaging and testing plant KYEC was exposed. Affected by the epidemic, adjustments in personnel and operation schedules will reduce the company’s output in June by 30%-35%. Industry insiders expect KYEC to transfer some orders to the company’s Suzhou plant. .

As one of Apple’s suppliers, Lens Technology has a factory in Vietnam. Regarding the impact of the epidemic in Vietnam, the company’s executives told reporters that after the local epidemic, Lens Technology communicated with customers on re-adjusting production arrangements and reached an agreement. Related products have been arranged in Hunan related parks, and the related parks have sufficient production capacity. It is not expected to have a negative impact on customer product delivery.

In addition, Chaoyang Technology is engaged in earphones and electro-acoustic product accessories. The company said in response to investors’ questions that the impact of the Vietnam epidemic on the company is relatively limited. According to reports, Chaoyang Technology has set up two wholly-owned subsidiaries in Vietnam. The upgrade of the epidemic prevention and control measures in Vietnam involves the subsidiary Viet Nam Lusheng belonging to the Beijiang area. Currently, it is actively cooperating with the local government’s epidemic prevention requirements and strictly implementing the epidemic prevention policy; the company It has been coordinating the operations of the two subsidiaries in Vietnam, and has adjusted part of the production capacity and production tasks to another Vietnam Chaoyang Industrial Co., Ltd.

Zhilai Technology, which is engaged in automatic storage cabinets, said that the Vietnam epidemic has had a certain impact on the efficiency of the procurement of some materials and the export of products in the Vietnamese factory, and has not had a significant impact on the production and operation of the Vietnamese factory. The expansion of the new production capacity of the factory is still progressing in an orderly manner, and it is expected to start production by mid-year. The company’s main production base is located in Xianning, Hubei. If the Vietnam epidemic is out of control and the factory cannot produce normally, the Hubei factory will take over the production tasks of the Vietnam factory and will not affect the production and delivery of orders.

The epidemic has not stopped industrial migration

“As far as we know from the industry chain, the current return of electronic orders is mainly small home appliances and handheld products, which has little impact on customer orders such as Apple and Samsung.” Dong Shimin, director of the Yuanchuan Research Institute, told reporters.

In fact, under the background of Sino-US trade frictions and rising labor costs in the mainland, listed electronics companies have continued to set up factories in Vietnam, India and other places in recent years, even during the epidemic. Among them, Vietnam is the hottest.

According to statistics on foreign investment in Vietnam from the Ministry of Planning and Investment of Vietnam, in the first four months of this year, Vietnam’s attractiveness for foreign direct investment is still relatively optimistic. Funds increased by 24.7% year-on-year; China’s investment in Vietnam has ranked fourth in the first three months of this year, second only to Singapore, Japan, and South Korea. According to Vietnamese statistics, in 2020, China is the third largest source of investment in Vietnam, with a total registered investment of US$2.46 billion, accounting for approximately 8.6% of Vietnam’s total foreign direct investment in the whole year.

Vietnam has also introduced a number of policies to attract foreign investment, becoming an investment destination of “China+1” under the background of Sino-US trade frictions. According to the reporter’s understanding, Vietnam has passed the “Investment Law” (Amendment), “Enterprise Law” (Amendment), “Public Private Partnership (PPP) Investment Law” and other laws on investment and operation, simplifying investment procedures and making it more transparent. And diversify investment forms, and even optimize supplementary investment preferential mechanisms. In addition, Vietnam is a member of the Regional Comprehensive Economic Partnership Agreement (RCEP), the Comprehensive and Progressive Agreement on Trans-Pacific Partnership (CPTPP), and the Vietnam-EU Free Trade Agreement (EVFTA), which facilitates foreign investment. condition.

At the same time, Vietnam also gives preferential taxation. According to the disclosure of Lens Technology, the corporate income tax rate of the Vietnamese subsidiary is 20%. Starting from the year of profitability, it will be exempted for the first 2 years and reduced by half for the next 4 years.

In response to the recent rebound of the epidemic, the Vietnamese government requested that priority be given to key industrial production provinces in northern regions such as Beijiang and Beining. The Vietnamese government has instructed various departments and agencies to give priority to the above-mentioned two provinces to provide the new crown vaccine for vaccinating workers in industrial parks to ensure uninterrupted production and operation. In addition, the government has also introduced financial measures such as loan-free interest rates for customers affected by the epidemic.

From the data point of view, the enthusiasm of A-share listed companies to invest in Vietnam is high, and the electronics industry in particular surpasses other Southeast Asian countries. In 2020, the new crown epidemic is raging around the world, but the number of listed companies raising investment in Vietnam projects has increased significantly. Wind statistics show that since 2020, listed companies such as Yutong Technology, Intellectual Power, and USI have invested in Vietnam’s packaging expansion, precision technology and wearable equipment through convertible bonds, additional issuances, and other projects. In addition, they have jointly created lawns and Huali. The initial IPO fundraising of listed companies such as the Group and Aimer shares also involved local projects in Vietnam, and the total amount of relevant fundraising exceeded 3.4 billion yuan.

Investors’ attention to the direction of the industry’s shift has also continued to increase. According to the statistics of Tianyan Check, the number of survey minutes containing the keyword “Vietnam” began to increase in 2018, and the number of disclosures reached 58. Subsequent to this, the number has basically doubled in 2019 and 2020, reaching 204 by 2020, and it has been close to 100 since this year. seal.

“From the historical background of industrial transfer in Southeast Asia, as early as the 1990s, Japan had already begun to transfer to Southeast Asia and other countries.” Dong Shimin told reporters that from a time point of view, after China joined the WTO, Southeast Asia is also trying to attract industries to the local area. However, at that time, the advantages of labor cost replacement were not obvious, and corporate management experience was insufficient, and no obvious results were achieved in the end.

Dong Shimin introduced that by about 2012, Samsung began to try out the migration of some domestic industries with relatively low technical requirements. Apple suppliers such as Goertek and Luxshare Precision are also transferring, and with the continuous improvement of management level, By training local employees, increase the success rate of industrial transfer.

The executives of Lens Technology introduced to reporters that in recent years, they have continuously improved the layout and development of the industrial chain. They have set up 9 R&D and production bases in China and Vietnam, which can better respond to changes in the external environment, meet the diverse needs of customers, and optimize products. Delivery location and supply capacity to diversify supply chain risks. At present, each of the company’s production parks is self-built and owned by the company, with complete ownership, and the level of automated and intelligent production is stable and leading in the industry.

(Source: CICC)

Apple suppliers intensively go to Vietnam

Tracing the driving force behind the changes in the industry, following customers and the market has become the most critical factor in the migration of the electronics industry, and will even set up factories in different countries according to different customer needs. Sunny Optical executives also introduced earlier that the company’s global layout is customer-centric and follow customers for localized production. For example, the establishment of factories in India is to facilitate cooperation with OPPO, vivo and other customers, and the production in Vietnam is to cooperate with Samsung.

As the vane of the consumer electronics industry, Apple has built a diversified manufacturing system as the company’s long-term strategy. Signs of industrial relocation can also be seen in its latest fiscal year 2020 supplier list: On the one hand, there are 51 suppliers in mainland China (including Hong Kong, China), surpassing the number of suppliers in Taiwan, China for the first time in history; on the other hand, The number of Apple suppliers in Vietnam has increased from 14 in fiscal year 2018 to 21, which is even twice the number of Indian manufacturers in the same period.

If you further compare the details of the changes in the number of manufacturers in the 2018 and 2020 fiscal years, you can find that Apple suppliers in mainland China have become the main increase in setting up factories in Vietnam. Among them, after Goertek and Yutong Technology, Luxshare Precision and Lens Technology A-share listed companies such as A-shares, Lingyizhizao, and Meiyingsen have set up factories in Vietnam, replacing some of the Japanese and Korean suppliers that had previously set up factories there.

Mei Yingsen’s board secretary, Liu Huifeng, also told reporters that the main purpose of going to Vietnam to set up factories is to follow customers and make matching packaging. “It would be too expensive to ship the packaging from China, and we will lose the customer if we don’t go.” As for whether it will continue to increase overseas production capacity in the future, Mei Yingsen said that it is very likely.

Yutong Technology, a counterpart of Meiyingsen and a supplier of Apple, established its first production base in Vietnam as early as 2011, and has now expanded from Vietnam to India, Indonesia and Thailand and established 6 production bases. In April 2019, it used its own (self-raised) funds to purchase the original leased plant and land use rights, at a cost of approximately 60.34 million yuan; in April last year, the company also raised 1.4 billion yuan through the issuance of convertible bonds, including fundraising Invested in Vietnam and Indonesia to expand the production line of electronic product packaging boxes.

On the whole, compared with the domestic Apple industry chain, Southeast Asia’s production capacity is relatively small, and it undertakes the transfer of relatively peripheral and low-end industries, but it is already on the track of gradual growth. In the introduction to investors, the executives of Goertek pointed out that the company’s manufacturing is centered in Weifang and Vietnam is supplemented; the company has been in Vietnam since 2013 and now has a considerable scale. From the perspective of revenue share, last year, Goertek’s overseas revenue contribution reached 50.7 billion yuan, and its share increased to about 88% year-on-year.

According to industry speculation, the production capacity of Apple headsets that Luxshare Precision is engaged in in Vietnam has already exceeded 10% and will gradually increase. In addition, in view of the complexity of the mobile phone industry chain, often mainland manufacturers will be responsible for the production of precision parts, and then shipped to Vietnam and other places to complete the final relatively easy assembly link, and then export overseas.

Compared with Vietnam, India is another electronics industry undertaking. Although the number of Apple suppliers is not as high as that of Vietnam, the majority of Taiwan-based assembly plants are mostly.

Representatives of ODM manufacturers who set up factories in India told reporters that in terms of labor costs, Vietnam is twice as expensive as India. The local labor wage in Vietnam is equivalent to RMB 4,000/month, and Indian workers are about 2,000 yuan/month; however, the company did not choose Vietnam. , But India, the main reason is that in addition to satisfying customers’ global delivery needs, India is also an important mobile phone consumer market, and enjoys preferential tariffs.

From a tariff point of view, India’s local production and assembly also have advantages. The aforementioned manufacturer introduced to reporters that according to past data, the tariff cost of local production in India is about 18% less than that of production in China for the same export to Europe and the United States.

“India has ample local labor, which is cheaper than Vietnam’s labor cost. It is suitable for large-scale assembly, packaging and other relatively low-tech links. Many precision parts are shipped from China to India for assembly.”

According to the IDC report, due to the impact of the new crown epidemic, the Indian smartphone market shrank by 2% in 2020, with a total sales volume of about 150 million units. Among the top five, there are four Chinese brands, namely Xiaomi, Vivo, realme and OPPO. Chinese brand Samsung Electronics ranked second.

The epidemic is also expected to affect India’s local mobile phone production this year. TrendForce further pointed out that the current top five mobile phone brands in the world, Samsung, Apple, Xiaomi, OPPO, and vivo, all have production lines in India or are produced through OEM factories. The output, and the proportion is increasing year by year, the current output Mainly to supply local demand. Based on the local production situation at this stage, it is estimated that the production of 12 million mobile phones in the second quarter to the third quarter of this year will be affected. Affected by the epidemic, India’s annual production volume may decline by 7.5%.

Ensuring the security of the supply chain has become a new consideration for migration

In addition to attracting foreign investment, India is actively promoting its own industrial substitution, using the mobile phone industry as a pilot, and it has begun to show results.

Zhang Zhiwei, chief economist of Insurance Bank Investment, emphasized that India is a country that cannot be ignored. “Although India’s current industrial chain system is not perfect, the current Moody’s government is ambitious and has stronger executive power than before. The PLI (Production Linked Incentive) project will do better.”

According to reports, in April 2020, the Indian government launched a production-linked incentive strategy to promote import substitution in the mobile phone industry. This strategy encourages localized production of mobile phone manufacturers and subsidizes 4-6% of the company’s revenue over a five-year period. At present, about 16 manufacturers have joined the funding program, including Hon Hai Foxconn and Samsung. According to statistics, after the exit of the strategy, participating manufacturers have invested 13 billion rupees and produced more than 20,000 jobs.

The Indian government is also promoting import substitution projects in more fields such as auto parts, home appliances, medicine, solar energy, and communications. Indian officials estimate that the plan will increase output by US$520 billion in the next five years.

Zhang Zhiwei said that “India does not need to be China”. From a macro perspective, India’s population base is large enough, and India will be one of the few countries that can maintain an economic growth rate of 8% in the next 20 years.

In addition to traditional geopolitical factors, under the disturbance of core shortages and epidemics, ensuring the security of the supply chain has gradually become a new driver of promoting the transfer of the electronics industry.

A few days ago, the U.S. Senate passed the “U.S. Innovation and Competition Act,” authorizing approximately US$190 billion to strengthen US technology and research, and separately approved spending of US$54 billion to increase US production and production of semiconductors, microchips, and telecommunications equipment. the study. US Secretary of Commerce Gina Raimondo has said that the funds may be used to build 7 to 10 semiconductor factories in the United States.

In addition to the United States, the European Union and South Korea have also taken measures to strengthen supply chain security, while Southeast Asia and other countries are preparing for corresponding industries. But this is not a cost-compliant plan.

According to a joint study by BCG and SIA, if a fully self-sufficient localized supply chain is established everywhere, at least US$1 trillion in R&D and capital support will be required, and the overall price of semiconductors will rise by 35%-65%, ultimately increasing consumption The cost of electronic equipment

Dong Shimin told reporters that issues such as the epidemic and the lack of cores have made countries aware of supply chain security issues. Although not building a supply chain will increase costs, it may still become a long-term trend; on the other hand, the supply chain is completely shifted from China. Southeast Asia and other places may also have some volatility adjustments due to the epidemic situation and the steady performance of the mainland’s supply chain. For example, the previous plan to transfer all out, the transfer may be reduced after this round of the epidemic.

In addition, the goal of carbon neutrality may also further trigger the trend of industry transfer to developing countries. Zhang Zhiwei pointed out that the United States and China will certainly advance the carbon neutrality target, but countries like Vietnam are objectively not willing to set too high a carbon neutrality target. In the future, the transfer of high-energy, low-end industries will be a major trend.

Regarding the concerns about the hollowing out of the domestic industry due to the transfer of industries to Southeast Asia and other places, representatives of international OEM manufacturers told reporters, “There is no need to worry about this problem.” There is a larger domestic market and a more complete supply chain, and the company is constantly strengthening. R & D strength to improve the level of automation. “After all, it is mainly low-end migration to Southeast Asia and even Brazil.”

Observation: Emerging market countries ignited the movement of new energy vehicles

Emerging market countries in Southeast Asia and other places are no longer satisfied with their role as destinations for foreign-funded industries, and have set the banner of supporting local industries and independent innovation; and new energy vehicles have almost become the same choice.

For a long time, countries such as Vietnam and India have been considered to receive dividends from Sino-US trade frictions. With cheap labor costs, foreign investment conditions, tariff differences and other conditions, they have accepted a large number of low-end mobile phone orders from international customers such as Apple and Samsung. However, after all, the economic structure that relies on foreign investment has natural drawbacks. In addition, domestic labor costs are no longer cheap, and the new crown epidemic has disrupted the pace of industrial transfer to a certain extent. Promoting domestic industrial upgrading has become an important issue considered by emerging market countries.

New energy vehicles are rare innovation carriers that can gather upstream and downstream industries extensively, and it is not difficult to understand that they have been selected as an important option for development. From the perspective of the path, emerging market countries will take advantage of domestic manufacturing, start with the introduction of foreign brands, and implement localized production. They will also join the supply chain of China’s new energy automobile industry to incubate their own car-making forces.

According to the news, Tesla has begun to recruit sales and marketing directors and human resources directors in India; this will be Tesla’s latest response to the Indian production-linked incentive plan (PLI). Under the PLI plan, the Indian government of Moody’s encourages international manufacturing giants to produce locally in India and export them all over the world. In addition, India has approved a plan worth 181 billion rupees (2.5 billion US dollars) to increase the battery storage capacity to 50GWh.

In addition, as a major automobile producer in Southeast Asia, Thailand has been actively developing new energy vehicles, aiming to become an electric vehicle manufacturing export center in Southeast Asia, and has formulated a strategic plan for the development of new energy vehicles, with the goal of basically replacing fuel vehicles with electric vehicles after 2036. .

In May of this year, Hon Hai Precision signed a memorandum of cooperation with Thai National Petroleum Corporation to establish an open platform for the electric vehicle industry in Thailand to produce electric vehicles and provide key To launch new models. Prior to 2018, BYD delivered 101 E6 new energy electric vehicles to Thailand, and local Thai companies also signed an agreement with BYD to plan to introduce another 1,000 E6 electric vehicles in the next few years.

Indonesia, on the other hand, is making use of its advantages in resource mines to develop new energy vehicles. It is understood that Indonesia has the necessary minerals for new energy vehicle batteries such as nickel ore, cobalt, and copper, and plans to become a global production center for electric vehicle power batteries. The Indonesian government aims to export 200,000 electric vehicles by 2025, or allow local brand electric vehicle exports to account for 20% of total motor vehicle exports.

In December 2020, the new energy automobile battery manufacturing giant Ningde Times has signed a contract with the Indonesian government to invest 5 billion US dollars to build a lithium battery plant. The project is scheduled to be put into operation in 2024. This will be the second time of the Ningde Times after the plant in Thuringia, Germany. Overseas factories.

Vietnam has also begun to develop new energy vehicles, and the pace is faster. In the past two years, as the government has introduced support policies for the development of electric vehicles, the sales volume of electric vehicles has increased at an annual growth rate of 500,000 to 600,000, and local enterprises have been actively cultivated.

Vinfast is an automobile subsidiary of Vingroup, Vietnam’s largest comprehensive enterprise group, and the first automobile manufacturer in Vietnam. It has become the fifth largest automobile brand in Vietnam last year and plans to go public in the United States. The latest valuation exceeds US$50 billion, which is close to Wei Come by car.

(Sales of VinFast and other auto companies in Vietnam in 2020)

In March of this year, the Taiwanese solid-state battery manufacturer Huineng Technology and VinFast recently announced that they have signed a memorandum of cooperation (MOU) to establish a joint venture company in Vietnam to increase the commercialization of local solid-state batteries; in addition, Hon Hai also reported a plan to acquire VinFast electric car production line news, and VinFast hopes to retain the electric car block business.

A-share listed companies have also begun to share in Vietnam’s electric vehicle projects. According to Feilong’s introduction to the media, the company has been appointed by VinFast for the electronic water pump and electronic three-way valve project of three pure electric vehicles. It is expected that the first vehicle will be mass-produced in October 2021; the Vinfast pure electric vehicle project and The off-road vehicle project will bring more than 100 million yuan in sales contribution to the company.

However, there are still old people who have aspirations for thousands of miles. Although they have reached the legal retirement age, they still continue to lead the company to gallop in A shares.

According to incomplete statistics from the IPO Daily, as of June 15th, in the A-share market, there were 479 actual controllers who were male, over 60 years old, and who were also chairman of the company.

“After 50” the most

Among the 479 “senior-aged” male actual control persons, 228 were 60 to 64 years old, 159 were 65 to 69 years old, 65 were 70 to 74 years old, and 75 to 79 years old. The number of people is 19, and the number of people between 80 and 84 years old is 8.

Data source: IPO daily self-made table

IPO Daily statistics found that the number of people aged 60 to 69 years reached 387, accounting for 80.79%. In other words, among the above-mentioned 479 men, more than 80% are under 70 years old.

According to the age, there are 107 people born between 1960 and 1969, 313 people born between 1950 and 1959, 57 people born between 1940 and 1949, and a total of people born between 1930 and 1939. 2 people, The proportion of “post-50s” is as high as 65.34% .

Data source: prospectus

It should be pointed out that Li Yunxiao, the actual controller of Sun Cable, and the actual controller of Haitian Precision Zhang Jingzhang is 84 years old this year and is the oldest actual controller and chairman of the A-share listed company .

Half from these 6 industries

According to statistics from the IPO Daily, the above-mentioned 479-controlled companies are mainly distributed in 47 industries. Among them, there are 50 pharmaceutical manufacturing companies, 42 electrical machinery and equipment manufacturing companies, 37 computer, communications and other electronic equipment manufacturing companies, 37 general equipment manufacturing companies, 37 special equipment manufacturing companies, and automobile manufacturing companies. There are 36 companies in the industry, 239 companies in total, accounting for 49.9%.

This also means that nearly half of the men who have reached the legal retirement age but still serve as the actual controller and chairman of the company come from the above six major industries.

Data source: IPO daily self-made table

The market value exceeds 6775.1 billion yuan

So, what is the performance of the above-mentioned 479 male-controlled companies?

According to statistics from the IPO Daily, as of June 15th, the total market value of the 479 male-controlled listed companies totaled 6,775.135 billion yuan. Among them, the market value of Mindray Medicine controlled by Li Xiting is as high as 566.694 billion yuan, which is the company with the highest market value among the above-mentioned 479 companies; while the market value of Haitian Flavour Industry controlled by Pangkang has also exceeded 500 billion yuan, reaching 553.743 billion yuan. Afterwards.

The IPO Daily News further inquired and found that as of June 15, there were only 18 of more than 4,300 A-share listed companies with a market value of more than 500 billion yuan.

In addition to the two companies mentioned above, Zhifei Biotech controlled by Jiang Rensheng and Sany Heavy Industry controlled by Liang Wengen both have a market value of more than 200 billion yuan. Rongsheng Petrochemical controlled by Li Shuirong, Enjie Holdings controlled by Paul Xiaoming Lee, and Cao Dewang controlled. The market value of Fuyao Glass, Huayou Cobalt controlled by Chen Xuehua, Huali Group controlled by Zhang Congyuan, and Cobos controlled by Qian Dongqi are more than 100 billion yuan.

Data source: IPO daily self-made table

In other words, Among the companies controlled by the above-mentioned 479 men, 10 companies have a market value of more than 100 billion yuan .

Worth more than 150 billion yuan

Let’s take a look at their worth.

Due to the large number of people reaching the statutory retirement age, the IPO Daily selected those male actual controllers who were over 70 years old.

Flush shows that as of June 15, a total of 92 male actual controllers and chairman of A shares are over 70 years old. The specific shareholding ratio is as follows:

Data source: IPO daily self-made table

The IPO Daily reported that among the 92 men mentioned above, the value of the listed company’s equity held by many of them reached 100 million yuan, as follows:

Data source: IPO daily self-made table

Overall, The above 92 men are worth more than 340 billion yuan in total by holding equity in these listed companies. .

Among them, Li Xiting has reached 156.862 billion yuan through holding equity in Mindray Medical, Gan Zhongru and Cao Dewang have exceeded 20 billion yuan through holding equity in Ganli Pharmaceutical and Fuyao Glass respectively, and Li Rucheng, Wu Yiling, and Zhang Congyuan have also passed The equity value of the company it controls exceeds 10 billion yuan.

The A-share “NASDAQ” is coming!

The first batch of Double Entrepreneurship 50 ETF was launched, and the Wells Fargo CSI Technology Innovation and Entrepreneurship 50 ETF was approved for release. This means that investors can deploy high-quality leaders on the Sci-tech Innovation Board and ChiNext, because the Double Innovation 50 Index is from the Sci-tech Innovation Board and ChiNext Select 50 listed companies in emerging industries with larger market capitalizations as index samples, including constituent stocks of CATL, Yiwei Lithium Energy, Cambrian, and CICC.

In terms of major events, this week is about to usher in the Super Central Bank Week, including the Federal Reserve, the Bank of Japan, the Swiss National Bank, etc. will announce interest rate resolutions; of course, the market is most concerned about the monetary policy signals released by the Federal Reserve!

At 2 o’clock on June 17th, Beijing time, the Federal Reserve will announce the interest rate decision. Prudent investment friends can wait for their boots to land before making a choice.

Let’s talk about the other conditions of the disk:

The index has stepped back, and there is a tendency to go down. If the volume can barely reach one trillion yuan and the transaction volume can be maintained, the market is fine. The market sentiment after the holiday was suppressed, and the link height was compressed to 2 links. The bad news affects foreign investment.

In terms of subject matter, the liquor concept, semiconductor and component sectors were active. The optical and optoelectronics sector was the top gainer. The Hongmeng concept was weaker and led the decline. The pork and three-child concepts were weaker throughout the day, and resource stocks were making up for losses.

Disassemble the subject matter of the lower board and share the opportunity to adjust the board:

By the way here: Everyone knows the recent market quotations. Not to mention that the bull market is coming, but the bull stock market is definitely coming. Therefore, the author combines the current situation and the hotspot direction,

Through various screenings, several short-term high-quality stocks were obtained. In late June, these stocks will surely be able to bring 60%-90% upside. And the sprint phase will also be around mid to late June.can

In order to say that there are not many opportunities, you can eat meat if you grasp it! The first one can be deployed in the near future. The ticket belongs to the third-generation semiconductor + SMIC + 5G + charging pile + photoresist + automotive electronics concept;

Science and technology revitalize the country, suitable for lurking investors. It is now in the early stage of the rise. Stepping back on the 5-day line is the point of opening a position. Just wait patiently for the wind to come. The focus is lurking.

Interested fans can find “ghy9496” to prepare: Fox, that’s it, everyone should remember that it is a commonly used chat software, get it! In 2021, we will turn the world together!

1. The concept of Hongmeng, benign differences, cut highs and lows, there must be a compensatory rise in the back. But then the operation is more difficult, and the general rise time has passed. Runhe software is the leader of this wave, there must be repeated, appropriate T, low-suction arbitrage, should be able to eat meat.

   Chips, technology stocks continue to ferment and spread. Recently, it has continued to strengthen, and some funds have increased their holdings, and many stocks have been on the rise. Rockchip, the strongest trend in the sector, accelerated its listing today. If you do the same with the trend, you can buy low if you disagree, and there is no sign of ending.

   

   You can also go to the relatively low level by yourself. You can look at Sai Microelectronics, which is relatively low and low in price, and it is 20CM, which is in line with the speculation direction of the disk, and there are expectations behind it.

2. There are also organizations in Masukura that are expected to be the main source of the military industry’s abnormal changes. In the direction of 20CM, Morning Air and Xinyu Guoke both rebounded oversold. In terms of shape, Xinyu Guoke went more smoothly and the recognition of Morning Air was stronger.

   In addition, lithium batteries continue to intensify differences, Yongtai Technology has made up for the decline, Tianqi Lithium once fell to the limit, China Baoan is still rising, 20CM National Technology. Participation is very difficult, and the consideration in the car gradually retreats; those who do not get in the car evade. The liquor sector has also been repaired, so I am willing to make the wine industry on the board and pay attention to the continuity of tomorrow.

   It is a low tide market now, and there is a high probability that it will be adjusted for a few days, so it should not be radical. Control your position, shrink and grow!

   

   Hot topics in the market outlook

   ① Huawei AR/VR

   According to the news, Huawei will hold the 5G+AR Global Online+Offline Summit on June 17, uniting global operators, regulatory agencies, partners, media, analysts, etc., to promote the prosperity of the 5G+AR ecosystem.

   From the disk perspective, virtual reality concept stocks are active against the trend today. The number of daily limit stocks is more than 5, and the number of stocks rising by more than 5% is more than 10. You must know the general decline in the market today. As for who the leading stock is, the market has already selected it, and the stock has gone out of two 20cm in a row.

   

   According to IDC, a consulting agency, in 2021, global VR virtual reality products are predicted to grow by about 46.2% year-on-year, and it is predicted to maintain rapid growth in the next few years. The average annual compound growth rate from 2020 to 2024 is about 48%.

   In addition, the agency believes that the inflection point of VR/AR has emerged after 5 years of technology precipitation. 10 million is an important singularity for the product to enter a new stage, and it will attract more ecological enterprises to enter to jointly enrich the ecological improvement and enrich the content, which is the beginning of the product climbing period. In the second half of 2021, global sales may reach 10 million units, which is the beginning of this singularity.

   Today is strong: Jiachuang Video, GQY Video, Lante Optics, Crystal Optoelectronics, Runjian Co., Ltd., Fortune Technology, Rockchip, etc.

   ② Semiconductor

   From the perspective of the disk, the semiconductor sector is active against the trend. Among them, the semiconductor equipment leader North China Chuang set a record high in the disk. Of course, North China Chuang can also be regarded as the leading stock in this round of semiconductor cycle. In addition to North China Chuang, today there are still many semiconductor concept stocks that have risen by more than 5%.

   The semiconductor industry has entered a historic boom. Driven by digital economy smart applications such as automobiles, servers, Internet of Things, and 5G, the semiconductor market is expected to enter a three-year-old super boom cycle since 2019.

   my country’s integrated circuit industry is developing healthily, and its independent strength is constantly improving. From January to April 2021, my country’s integrated circuit output exceeded 110 billion pieces, a sharp increase of 51.7% year-on-year to a new high. Looking back over the past five years, although my country’s integrated circuit imports still far exceed the export value, the average export growth rate (11%) has exceeded the import (8.8%), and the independent strength has been continuously improved.

   Today is strong: Changchuan Technology, North Huachuang, Anji Technology, Guokewei, Beijing Junzheng, Rockchip, Jingce Electronics, etc.

   ③ Military industry

   In the early trading, the military industry stocks changed. Some time ago, Aviation Power announced that it would carry out cash management of 11.7 billion yuan. In the first quarter, the company only had 4.4 billion currency funds. This gave the market some room for imagination, and the order money may have arrived. In addition, this year’s major aviation OEMs have raised their deposit limits with their respective group finance companies, indicating that the overall funding of the industry is improving.

   July is almost the time to speculate on the interim report, and performance stocks will once again become the darling of the market. For companies with better performance, it is a big plus. The style of the venue will again be dominated by institutions. After all, institutions have an absolute advantage of information asymmetry. What industry has performed well, but it has not risen sharply. This is the strength of the organization and will enter the market early. The institutional model is actually very simple. In June, the institutions went in first, and then the sellers began to blow their votes, the market was concerned, and retail investors poured in. The routine is the same. Feng Shui turns around.

   From the perspective of the disk, the most powerful stocks in the recent military industry sector are the small market capitalization stocks on the Growth Enterprise Market. This can be seen from my stock pool. 40% of the stocks are in line with this point. The current market funds prefer to speculate on low-value stocks on the ChiNext. Of course, the military industry sector is no exception. For example, Dawn Aviation and Tianhe Defense have once again set new highs. Today Dawn Airlines has achieved a 20cm daily limit.

   Leading gains today: Dawn Airlines, Tianhe Defense, Zongheng Stock, Xinyu Guoke, Andaville, Jianglong Boats, Guanglian Airlines, etc.

In early trading today, A-shares fluctuated slightly. The ChiNext index rose by more than 2%, and hit a new high since the rebound. On the disk, sectors such as health care, beer, electrical equipment, and polysilicon were active, with aquatic products, medical beauty concepts, and digital currencies leading the decline in early-stage popular sectors. The net inflow of funds to the north was over 5.5 billion yuan.

Health care frequent performance surge

Benefiting from the surge in demand from the epidemic, the healthcare industry has ushered in a peak period of performance. After the 2021 quarterly report of Hotview Biotechnology increased by more than a thousand times, last night, a number of blockbuster listed companies in the health care sector announced their excellent quarterly reports at the same time.

Ingram Medical released its report for the first quarter of 2021 last night, achieving operating income of 6.735 billion yuan, a year-on-year increase of 770.86%, net profit of 3.736 billion yuan, a year-on-year increase of 2791.66%, and net cash flow from operating activities of 3.075 billion yuan, a year-on-year increase An increase of 1013.67%. Ingram Medical said that benefiting from the strong demand for disposable gloves at home and abroad, and the company’s new annual production capacity of 9 billion nitrile gloves in the company’s Anhui production base, the company’s profit in the first quarter increased by 41.80% from the previous quarter, and its single-quarter performance reached a new high.

Although Ingram Medical has risen by more than 30 times in recent years, the surging performance growth has made Ingram Medical’s dynamic price-earnings ratio still only over 4 times, even lower than most bank stock-earnings ratios. Stimulated by the surge in the quarterly report, Intech Medical opened higher in the morning and rose by more than 10% during the session. Or they may have some expectations for the performance of Ingram Medical’s first quarterly report. Financing customers reversed the previous five consecutive weeks of net sales this Monday and bought 30.5 million yuan.

Aier Ophthalmology also announced that it achieved operating income of 3.511 billion yuan in the first quarter, an increase of 113.9% year-on-year, and a net profit of 484 million yuan, an increase of 509.88% year-on-year. Aier Ophthalmology also opened high volume in early trading, rose by more than 15% at one time, and the half-day turnover exceeded the full-day turnover of the previous trading day by more than double. Similarly, financing customers this week raised a net purchase of 222 million yuan in advance, waiting for the good performance to be realized.

Driven by the surge in Ingram Medical and Aier Ophthalmology, the entire health care sector surged. The sector index once soared by more than 4% during the intraday session, setting a new high in 2 months. This is the index’s sixth consecutive trading day. rise. Hotview Biotech once again reached a 20% daily limit in the intraday trading, and its stock price also hit a record high. Since the announcement of the first quarterly report, it has risen by more than 200% in just 9 trading days; Yihua Health, Gongdong Medical, Dabo Medical and other daily limit.

The surge in the healthcare sector also led to a surge in medical ETFs. In early trading, Fortune CSI Medical Open-end Index Securities Investment Fund rose 3.64%; Cathay Pacific CSI Medical Open-end Index Securities Investment Fund rose 3.53%; Tianhong Zhong The Securities Index Securities Investment Fund rose 3.28% and hit a record high.

The consumption peak season is coming, the beer sector is active

The beer sector also released a quarterly report last night. The first quarterly report of Lanzhou Yellow River showed that it turned losses into profits, with a net profit of 8.3165 million yuan. Lanzhou Huanghe stated that in the first quarter of 2020, due to the impact of the new crown pneumonia epidemic, the company’s operating income fell sharply and its performance suffered a loss. Since 2021, as the domestic epidemic prevention and control situation continues to improve, the company’s beer and malt production and sales in the first quarter have increased significantly compared with the same period last year, and securities investment disposal and holding income that are non-recurring gains and losses have also increased significantly compared with the same period last year. , The two superimposed, the company’s performance realized a turnaround. After the Lanzhou Yellow River opened slightly higher in the morning, it only took about 5 minutes to pull the daily limit straight.

Although Huiquan Beer reported a quarterly loss of 3,968,500 yuan, it was significantly narrower than the loss of 7,077,600 yuan in the same period last year, and its operating income was 121 million yuan, a year-on-year increase of 10.54%. In the morning, Huiquan Beer opened low and moved high and soared by nearly 7%.

Zhujiang Beer is scheduled to disclose the 2021 quarterly report this evening. Driven by the surge of Lanzhou Yellow River and Huiquan beer, and the advent of the superimposed peak summer consumption season, Zhujiang Beer once hit the daily limit in early trading, and its share price hit a new high during the year. Zhujiang Beer’s 2020 annual report showed that it achieved a net profit of 569 million yuan, a year-on-year increase of 14.43%; Chongqing Beer and other companies also strengthened in the market.

Minsheng Securities pointed out that looking forward to the whole year of 2021, it is expected that the production and sales of the beer industry will achieve recovery growth under the low base last year. The industry TOP5 has formed a firm consensus on high-end and profit demands, and the overall competition in the industry has slowed down and the certainty is high. Recommended ranking: Yanjing Beer + Tsingtao Beer + Chongqing Beer + Zhujiang Beer combination, and pay attention to H shares of China Resources Beer, Budweiser Asia Pacific.

In early trading today, A-shares fluctuated slightly. The ChiNext index rose by more than 2%, and hit a new high since the rebound. On the disk, sectors such as health care, beer, electrical equipment, and polysilicon were active, with aquatic products, medical beauty concepts, and digital currencies leading the decline in early-stage popular sectors. The net inflow of funds to the north was over 5.5 billion yuan.

Health care frequent performance surge

Benefiting from the surge in demand from the epidemic, the healthcare industry has ushered in a peak period of performance. After the 2021 quarterly report of Hotview Biotechnology increased by more than a thousand times, last night, a number of blockbuster listed companies in the health care sector announced their excellent quarterly reports at the same time.

Ingram Medical released its report for the first quarter of 2021 last night, achieving operating income of 6.735 billion yuan, a year-on-year increase of 770.86%, net profit of 3.736 billion yuan, a year-on-year increase of 2791.66%, and net cash flow from operating activities of 3.075 billion yuan, a year-on-year increase An increase of 1013.67%. Ingram Medical said that benefiting from the strong demand for disposable gloves at home and abroad, and the company’s new annual production capacity of 9 billion nitrile gloves in the company’s Anhui production base, the company’s profit in the first quarter increased by 41.80% from the previous quarter, and its single-quarter performance reached a new high.

Although Ingram Medical has risen by more than 30 times in recent years, the surging performance growth has made Ingram Medical’s dynamic price-earnings ratio still only over 4 times, even lower than most bank stock-earnings ratios. Stimulated by the surge in the quarterly report, Intech Medical opened higher in the morning and rose by more than 10% during the session. Or they may have some expectations for the performance of Ingram Medical’s first quarterly report. Financing customers reversed the previous five consecutive weeks of net sales this Monday and bought 30.5 million yuan.

Aier Ophthalmology also announced that it achieved operating income of 3.511 billion yuan in the first quarter, an increase of 113.9% year-on-year, and a net profit of 484 million yuan, an increase of 509.88% year-on-year. Aier Ophthalmology also opened high volume in early trading, rose by more than 15% at one time, and the half-day turnover exceeded the full-day turnover of the previous trading day by more than double. Similarly, financing customers this week raised a net purchase of 222 million yuan in advance, waiting for the good performance to be realized.

Driven by the surge in Ingram Medical and Aier Ophthalmology, the entire health care sector surged. The sector index once soared by more than 4% during the intraday session, setting a new high in 2 months. This is the index’s sixth consecutive trading day. rise. Hotview Biotech once again reached a 20% daily limit in the intraday trading, and its stock price also hit a record high. Since the announcement of the first quarterly report, it has risen by more than 200% in just 9 trading days; Yihua Health, Gongdong Medical, Dabo Medical and other daily limit.

The surge in the healthcare sector also led to a surge in medical ETFs. In early trading, Fortune CSI Medical Open-end Index Securities Investment Fund rose 3.64%; Cathay Pacific CSI Medical Open-end Index Securities Investment Fund rose 3.53%; Tianhong Zhong The Securities Index Securities Investment Fund rose 3.28% and hit a record high.

The consumption peak season is coming, the beer sector is active

The beer sector also released a quarterly report last night. The first quarterly report of Lanzhou Yellow River showed that it turned losses into profits, with a net profit of 8.3165 million yuan. Lanzhou Huanghe stated that in the first quarter of 2020, due to the impact of the new crown pneumonia epidemic, the company’s operating income fell sharply and its performance suffered a loss. Since 2021, as the domestic epidemic prevention and control situation continues to improve, the company’s beer and malt production and sales in the first quarter have increased significantly compared with the same period last year, and securities investment disposal and holding income that are non-recurring gains and losses have also increased significantly compared with the same period last year. , The two superimposed, the company’s performance realized a turnaround. After the Lanzhou Yellow River opened slightly higher in the morning, it only took about 5 minutes to pull the daily limit straight.

Although Huiquan Beer reported a quarterly loss of 3,968,500 yuan, it was significantly narrower than the loss of 7,077,600 yuan in the same period last year, and its operating income was 121 million yuan, a year-on-year increase of 10.54%. In the morning, Huiquan Beer opened low and moved high and soared by nearly 7%.

Zhujiang Beer is scheduled to disclose the 2021 quarterly report this evening. Driven by the surge of Lanzhou Yellow River and Huiquan beer, and the advent of the superimposed peak summer consumption season, Zhujiang Beer once hit the daily limit in early trading, and its share price hit a new high during the year. Zhujiang Beer’s 2020 annual report showed that it achieved a net profit of 569 million yuan, a year-on-year increase of 14.43%; Chongqing Beer and other companies also strengthened in the market.

Minsheng Securities pointed out that looking forward to the whole year of 2021, it is expected that the production and sales of the beer industry will achieve recovery growth under the low base last year. The industry TOP5 has formed a firm consensus on high-end and profit demands, and the overall competition in the industry has slowed down and the certainty is high. Recommended ranking: Yanjing Beer + Tsingtao Beer + Chongqing Beer + Zhujiang Beer combination, and pay attention to H shares of China Resources Beer, Budweiser Asia Pacific.

Favorites

Report

In today’s morning, the Mao Index rose sharply, with the highest intraday increase of 2.65%, and the morning closing rose by 2.05%. The market value increased by about 380 billion in half a day based on market value! Some funds are heavily involved in the performance of white horse stocks.

Among them, “Yan Mao” Aier Ophthalmology surged over 11.74%, and its net profit in the first quarter increased by more than 5 times; the “big four” liquor also surged, Luzhou Laojiao rose by 2.67%, Kweichow Moutai rose by 2.21%, and Wuliangye rose by 2.12 %, Yanghe shares rose 1.73%.

The sci-tech innovation board “demon stocks” hit the daily limit again in the hot scene of biology, which has risen by more than 300% this month.

In addition, carbon-neutral concept stocks rose in the early trading, with Shouhang Hi-Tech, Chengbang Co., Ltd., and West China Energy trading at their daily limit.

In early trading today, the market as a whole was weak and volatile, and individual stocks diverged around quarterly performance. As of midday, the Shanghai Composite Index rose 0.05% and the Shenzhen Component Index rose 0.75%. The turnover of the two cities was 499.33 billion yuan. 981 stocks rose and 3192 stocks fell. The index rose more than 2% at one time and regained its 3,000-point mark. .

Beijing Capital (Foreign Investment) bought 5.318 billion yuan in the morning

On the disk, the medical industry, solid-state batteries, genetically modified, automotive chips, gallium nitride and other sectors led the gains. Online travel, medical beauty, digital currency, dairy, and blind box economy led the decline.

The national carbon market welcomes heavy news

Carbon neutral concept stocks soar

Carbon neutral concept stocks rose in the early trading, with the daily limit of Shouhang Hi-Tech, Chengbang, and West China Energy, and Changyuan Power, Sinoma Energy Conservation, Yuanda Environmental Protection, China Southern Power, and Taiwan Nuclear Power all hit the high.

According to Xinhua News Agency, last night (April 22), President Xi Jinping delivered a speech entitled “Together to Build a Community of Human and Natural Life” at the “Leaders’ Climate Summit”. It mentioned a series of new measures that China is going to take, including incorporating carbon peaking and carbon neutrality into the overall layout of ecological civilization construction. It is formulating a carbon peaking action plan, carrying out carbon peaking actions extensively and in-depth, and supporting places and places where conditions permit. Key industries and key enterprises are the first to reach their peaks.

At the same time, China will strictly control coal power projects, strictly control the growth of coal consumption during the “14th Five-Year Plan” period, and gradually reduce it during the “15th Five-Year Plan” period. In addition, China has decided to accept the “Montreal Protocol” Kigali Amendment, strengthen the control of non-carbon dioxide greenhouse gases, and will also initiate online trading on the national carbon market. In addition, the national carbon market will issue registration transaction settlement rules as soon as possible, and will formulate implementation plans for peaking carbon in coal, power, steel and other industries.

The rise of Mao Index has increased its market value by about 380 billion!

“Eye Mao” and “Baijiu Mao” soared

The Mao Index rose sharply in the morning today, with the highest intraday increase of 2.65%, and the morning closing rose by 2.05%. The market value increased by about 380 billion in half a day based on market value! Some funds are heavily involved in the performance of white horse stocks.

Among them, the medical Whitehorse has strengthened across the board, and Aier Ophthalmology has expanded to 11.74%. Aier Ophthalmology announced last night that the company achieved operating income of 3.511 billion yuan in the first quarter, an increase of 113.9% year-on-year; net profit was 484 million yuan, an increase of 509.88% year-on-year. The net profit for the whole year of 2020 will be 1.724 billion yuan, a year-on-year increase of 25.01%. It is planned to send 1.5 yuan for 10 to 3 transfers. In addition, Mindray Medical rose 5.97%, WuXi AppTec rose 5.58%, Tongce Medical and Pien Tze Huang also rose.

It is worth noting that the “big four” liquors rose sharply in early trading today. Luzhou Laojiao rose by 2.67%, Kweichow Moutai rose by 2.21%, Wuliangye rose by 2.12%, and Yanghe shares rose by 1.73%. The remaining liquor stocks performed relatively weakly.

The sci-tech innovation board demon stock hot scene biology once again closed the board

This month has risen more than 300%

In terms of individual stocks, the sci-tech innovation board “demon stocks” hit the daily limit again in the market, which has risen by more than 300% this month. As of midday, Hotview Bio was up 19.22%.

In addition, stocks that saw their performance rose sharply, such as O.R.G., rose more than 8% in early trading. Origen announced on the evening of April 22 that the company achieved operating income of 3.072 billion yuan in the first quarter, a year-on-year increase of 64%; net profit was 296 million yuan, a year-on-year increase of 572.51%; basic earnings per share were 0.12 yuan.

Gigabit hit its daily limit in early trading. It was announced last night that it intends to transfer 3.37% of Xiamen Celadon Digital Technology to three companies including Tencent Ventures, totaling more than 300 million yuan.

China Diving shares continued to lower the limit at the opening today, which is a 20% limit for four consecutive days. The stock has fallen by as much as 62% in the past 5 trading days. CICC stated that although the “mid-term adjustments” may continue, considering that the current market has limited room to continue downward, it suggests that some valuations have been adjusted more and the industry’s long-term growth sectors are expected to be deployed in advance. As of midday, China Diving shares fell 5.77%.

In today’s morning, the Mao Index rose sharply, with the highest intraday increase of 2.65%, and the morning closing rose by 2.05%. The market value increased by about 380 billion in half a day based on market value! Some funds are heavily involved in the performance of white horse stocks.

Among them, “Yan Mao” Aier Ophthalmology surged over 11.74%, and its net profit in the first quarter increased by more than 5 times; the “big four” liquor also surged, Luzhou Laojiao rose by 2.67%, Kweichow Moutai rose by 2.21%, and Wuliangye rose by 2.12 %, Yanghe shares rose 1.73%.

The sci-tech innovation board “demon stocks” hit the daily limit again in the hot scene of biology, which has risen by more than 300% this month.

In addition, carbon-neutral concept stocks rose in the early trading, with Shouhang Hi-Tech, Chengbang Co., Ltd., and West China Energy trading at their daily limit.

In early trading today, the market as a whole was weak and volatile, and individual stocks diverged around quarterly performance. As of midday, the Shanghai Composite Index rose 0.05% and the Shenzhen Component Index rose 0.75%. The turnover of the two cities was 499.33 billion yuan. 981 stocks rose and 3192 stocks fell. The index rose more than 2% at one time and regained its 3,000-point mark. .

Beijing Capital (Foreign Investment) bought 5.318 billion yuan in the morning

On the disk, the medical industry, solid-state batteries, genetically modified, automotive chips, gallium nitride and other sectors led the gains. Online travel, medical beauty, digital currency, dairy, and blind box economy led the decline.

The national carbon market welcomes heavy news

Carbon neutral concept stocks soar

Carbon neutral concept stocks rose in the early trading, with the daily limit of Shouhang Hi-Tech, Chengbang, and West China Energy, and Changyuan Power, Sinoma Energy Conservation, Yuanda Environmental Protection, China Southern Power, and Taiwan Nuclear Power all hit the high.

According to Xinhua News Agency, last night (April 22), President Xi Jinping delivered a speech entitled “Together to Build a Community of Human and Natural Life” at the “Leaders’ Climate Summit”. It mentioned a series of new measures that China is going to take, including incorporating carbon peaking and carbon neutrality into the overall layout of ecological civilization construction. It is formulating a carbon peaking action plan, carrying out carbon peaking actions extensively and in-depth, and supporting places and places where conditions permit. Key industries and key enterprises are the first to reach their peaks.

At the same time, China will strictly control coal power projects, strictly control the growth of coal consumption during the “14th Five-Year Plan” period, and gradually reduce it during the “15th Five-Year Plan” period. In addition, China has decided to accept the “Montreal Protocol” Kigali Amendment, strengthen the control of non-carbon dioxide greenhouse gases, and will also initiate online trading on the national carbon market. In addition, the national carbon market will issue registration transaction settlement rules as soon as possible, and will formulate implementation plans for peaking carbon in coal, power, steel and other industries.

The rise of Mao Index has increased its market value by about 380 billion!

“Eye Mao” and “Baijiu Mao” soared

The Mao Index rose sharply in the morning today, with the highest intraday increase of 2.65%, and the morning closing rose by 2.05%. The market value increased by about 380 billion in half a day based on market value! Some funds are heavily involved in the performance of white horse stocks.

Among them, the medical Whitehorse has strengthened across the board, and Aier Ophthalmology has expanded to 11.74%. Aier Ophthalmology announced last night that the company achieved operating income of 3.511 billion yuan in the first quarter, an increase of 113.9% year-on-year; net profit was 484 million yuan, an increase of 509.88% year-on-year. The net profit for the whole year of 2020 will be 1.724 billion yuan, a year-on-year increase of 25.01%. It is planned to send 1.5 yuan for 10 to 3 transfers. In addition, Mindray Medical rose 5.97%, WuXi AppTec rose 5.58%, Tongce Medical and Pien Tze Huang also rose.

It is worth noting that the “big four” liquors rose sharply in early trading today. Luzhou Laojiao rose by 2.67%, Kweichow Moutai rose by 2.21%, Wuliangye rose by 2.12%, and Yanghe shares rose by 1.73%. The remaining liquor stocks performed relatively weakly.

The sci-tech innovation board demon stock hot scene biology once again closed the board

This month has risen more than 300%

In terms of individual stocks, the sci-tech innovation board “demon stocks” hit the daily limit again in the market, which has risen by more than 300% this month. As of midday, Hotview Bio was up 19.22%.

In addition, stocks that saw their performance rose sharply, such as O.R.G., rose more than 8% in early trading. Origen announced on the evening of April 22 that the company achieved operating income of 3.072 billion yuan in the first quarter, a year-on-year increase of 64%; net profit was 296 million yuan, a year-on-year increase of 572.51%; basic earnings per share were 0.12 yuan.

Gigabit hit its daily limit in early trading. It was announced last night that it intends to transfer 3.37% of Xiamen Celadon Digital Technology to three companies including Tencent Ventures, totaling more than 300 million yuan.

China Diving shares continued to lower the limit at the opening today, which is a 20% limit for four consecutive days. The stock has fallen by as much as 62% in the past 5 trading days. CICC stated that although the “mid-term adjustments” may continue, considering that the current market has limited room to continue downward, it suggests that some valuations have been adjusted more and the industry’s long-term growth sectors are expected to be deployed in advance. As of midday, China Diving shares fell 5.77%.

Editor: Captain

Seek to go public one after another

There are a total of 19 liquor-listed companies on the A-share market, and their stock prices are “steadily rising”, but there has been no liquor circulation company. The listing of Huazhi Liquor opened a new journey in the liquor circulation industry. In the past two months, Baichuan Famous Brands and Jiuxian.com have hit A shares to make this drama even more interesting.

On the evening of April 8th, the official website of the China Securities Regulatory Commission disclosed the prospectus of Jiuxian.com, which planned to issue 99 million shares on the Growth Enterprise Market and raise 1 billion yuan for the construction of three projects including smart warehousing and to supplement operating funds.

More than two months ago, the official website of the China Securities Regulatory Commission showed that Baichuan famous products have been filed and counseled with the Anhui Securities Regulatory Bureau and intend to apply for listing on the GEM. It is understood that Baichuan Mingpin and Huaan Securities signed the “Initial Public Offering Counseling Agreement between Baichuan Mingpin Supply Chain Co., Ltd. and Huaan Securities Co., Ltd.”.

Jin Yufeng, managing partner of Centaline Fund, told a reporter from China Business Daily that the shortage of funds for liquor circulation companies is the consensus of the industry, and the core demand for supplementary operating funds or most corporate financing. Liquor industry analyst Cai Xuefei also told reporters that in my country’s liquor industry chain, the circulation links have always lacked the right to speak and upstream bargaining power. They need to rely on low prices and scale advantages to improve their competitiveness. Contribute to the realization of large-scale expansion.

In fact, capital is optimistic about the alcohol circulation industry that has already begun. In December 2020, Jiu Xiaoer, a liquor delivery platform in the same city, announced the completion of Series A financing. The investors were Tencent and Sequoia Capital. Subsequently, Baode shares announced the acquisition of approximately 90% of the shares of Mingpin Family, and signed a gambling agreement, Mingpin Family’s “backdoor listing” dream has finally come true.

In Cai Xuefei’s view, the cooperation between capital and liquor circulation channels is nothing more than getting what they need. Capital is able to enter the wine market and extend its reach to the field of consumer consumption; and wine circulation companies can quickly realize the capitalization process and enhance their competitiveness after obtaining financial support.

The “past and present” of the two

What is the history of the two liquor circulation companies that have revealed their A-share listing ambitions? It is understood that Baichuan Famous Brand, established in 1997, is an out-and-out “veteran” in the liquor circulation industry, and its founder, Jia Guangqing, is also an industry leader. Its biggest highlight is the “thigh” of Pang Wuliangye. According to insiders, Baichuan Famous Brand started as a Wuliangye distributor and is a platform provider of Wuliangol products in six provinces in East China. Wuliangol’s revenue accounts for nearly 50% of Baichuan Famous Products’ revenue. In 2018, Wuliangye Co., Ltd. will increase by 1.853 billion yuan, and Jia Guangqing has become one of Wuliangye’s shareholders.

Is Baichuan Famous’s seeking to go public this time to achieve national expansion, and can its own resources match it? Jin Yufeng speculated that it would be of little significance for Baichuan Famous Brands to continue to cultivate the region or expand nationwide. And because it has a high reputation in the Wuliangye system and the national distributor circle, if it expands nationally, it will have a better guarantee of resources.

But Jiuxian.com is different. It is understood that Jiuxian.com was established in 2009, specializing in the Internet retail of alcoholic beverages, and tried to expand offline in 2014. In 2015, Jiuxian.com successfully landed on the New Third Board, but its performance suffered successive losses. It was eventually delisted in 2017 because it failed to release the financial report in time.

What’s interesting is that Jiuxian.com intends to issue 99 million shares of stock this time, accounting for 24.15% of the total share capital, and raise 1 billion yuan. Based on this calculation, Jiuxian.com was valued at about 4.14 billion yuan at this time, which is an impairment of about 36% compared with the 6.5 billion valuation when it was listed on the New Third Board in 2015.

Jin Yufeng revealed that the list of Chinese unicorn companies in 2018 released by the Foresight Industry Research Institute previously showed that 1919 ranked 150th with a valuation of US$1.077 billion, but there was no Jiuxian.com among the 203 unicorns on the list. It can be seen that its valuation has fallen a lot from the 6.5 billion yuan when it went public in 2015. Jin Yufeng believes that after 1919, the valuation of Alibaba’s investment of 2 billion yuan has become about 7 billion yuan, but Jiuxian.com has raised a total of 1.8 billion yuan, and the current valuation is still only about 4.1 billion yuan. This shows that the market is not optimistic about the business model of Jiuxian.com.

More importantly, the capital shortage of liquor circulation companies has been exposed on Jiuxian.com. The prospectus shows that from 2018 to 2020, Jiuxian.com’s asset-liability ratios were 67.04%, 74.12%, and 70.32%. In 2018 and 2019, the average asset-liability ratio of the liquor circulation industry was 44.65% and 45.51% (data for 2020 has not yet been released).

Jin Yufeng said frankly that the asset-liability ratio of Jiuxian.com is close to the red line of 70%, of which current liabilities are 1.599 billion yuan. It shows that its equity financing is too difficult, the original business expansion and new business development can only rely on debt financing.

Who is more favored by the capital market

One is a long-established wine merchant in the region, and the other is a national wine platform based on online chains. Nowadays, who is more likely to win the favor of the capital market when fighting on the same stage?

From the performance point of view, in 2019, Baichuan famous product revenue was 3.738 billion yuan, and the net profit was 319 million yuan; in the same period, Jiuxian.com’s revenue was 2.997 billion yuan, and the net profit was 81.66117 million yuan. Although Jiuxian.com is a national brand, its scale is slightly lower.

From the perspective of channels, Jin Yufeng revealed that Baichuan Brands has a strong and complete distribution system in East China. Jiuxian.com is slightly embarrassed. With the weakening of online dividends and high customer acquisition costs, the first-mover advantage of online traffic that it originally relied on no longer exists.

Jiuxian.com has also conducted live broadcast exploration. Since March 2020, Jiuxian.com has repeatedly tested live broadcast on the Douyin platform through “Jiuxian.com Lafige (Lafige)”. However, a reporter from China Business Daily found that the price of its Douyin products sold was quite different from the price of the official flagship store on the JD platform Jiuxian.com.

For example, the price of Wuliangye Golden VIP Wine 52% (480ml) Douyin is 1299 yuan, and the price of Jingdong flagship store is 109 yuan; the price of Remy Martin 40% XO Cognac (700ml) Douyin is 1699 yuan, and the price of Jingdong flagship store is 109 yuan. 1499 yuan; 52 degrees art is willing to pay tribute to the Sino-French series Landing (500ml) Douyin price is 458 yuan, Jingdong flagship store price is 598 yuan.

More importantly, the new retail road of Jiuxian.com’s offline expansion is not smooth. A franchisee of Jiuxian.com in Beijing revealed to a reporter from China Business Daily that the company has strict requirements on franchisees. On the one hand, the company requires franchisees to purchase 100% of the goods from the company, and does not give franchisees any power to purchase from outside; on the other hand, the company often requires franchisees to purchase many self-sold products of the company, but the sales of these products are not ideal.

Franchisees such as Huazhi Liquor and China Liquor Chain have all revealed to reporters from China Business Daily that the company requires franchisees to purchase about 80% of their products from the company, and about 20% of their products can be sourced from outside. In addition, Huazhi Liquor sometimes purchases products from franchisees in reverse.

From the perspective of upstream product resources, Baichuan’s famous products can be used as the “thigh” of Wuliangye. The Jiuxian.com prospectus shows that in 2020, Jiuxian.com will purchase a total of 399 million yuan in products from Wuliangye Group and its subsidiaries, accounting for 13.86% of its total purchases; and 307 million yuan in purchases from Maotai Group and its subsidiaries, accounting for 10.66% . In other words, in 2020, the purchase amount of Jiuxian.com from the Maotai and Wuliangye groups accounted for about 1/4 of the total purchase amount, or less than Baichuan famous products.

In addition, the cooperation between Jiuxian.com and wine “big factories” is not solid enough. The prospectus shows that the Maotai Group is not seen in the list of the top five suppliers of Jiuxian.com in 2018 and 2019. In fact, in previous years, Jiuxian.com was “blocked” by Moutai Group and Langjiu Group.

Jin Yufeng believes that the difference between Baichuan Famous Brands and Jiuxian.com’s model is too great, and it is difficult to compare horizontally. Just look at Jiuxian.com, the imagination of its impact on the market is insufficient, and the business model lacks bright spots.

Jiwei Net News On April 14, the Guangdong Supervision Bureau disclosed an announcement on the acceptance of counseling and registration of Guangdong Hetong Jianye Technology Co., Ltd. (hereinafter referred to as Hetong Technology). It has completed the registration of counseling with the Guangdong Securities Regulatory Bureau on April 14. The counseling agency is Dongguan Securities.

According to the official website, Hetong Technology was founded in 2002 and is a national high-tech enterprise specializing in the production of PCB printed circuit boards and one of the top 100 enterprises in China’s printed circuit industry. It has the production technology capability to produce high-precision, high-density single-sided, double-sided, multi-layer circuit boards and LED light strip boards, carbon oil boards, aluminum substrates and new energy automobile boards.

It is understood that Hetong Technology is a NEEQ delisted company. Its operating income in 2020 was 321 million yuan, a year-on-year increase of 15.85%; the net profit attributable to shareholders of listed companies was 41.497 million yuan, a year-on-year increase of 38.28%; the deducted non-net profit attributable to shareholders of listed companies was 140.83 million yuan, a year-on-year decrease of 37.71% .

From the perspective of the three main businesses of Tonghe Technology, the new energy vehicle industry achieved revenue of 85.671 million yuan, an increase of 18.02% year-on-year, and a gross profit margin of 19.71%; the power industry achieved revenue of 99,587,400 yuan, an increase of 19.42% year-on-year, gross The interest rate was 38.91%; the military industry and other industries achieved revenue of 113 million yuan, an increase of 3.11% year-on-year, and the gross profit rate was 61.83%.

Tonghe Technology stated that despite the adverse effects of the new crown epidemic in 2020, the company’s management team mobilized all positive factors to give full play to its own marketing promotion and technology research and development advantages to realize the three strategic areas of smart grid, new energy vehicles and military equipment The overall growth of operating income. Specifically include: overall planning, clear goals, focus on business, focus on the market and products, increase investment in key links, and enhance core competitiveness; mergers and acquisitions and integration, play a synergistic effect, and enhance the company’s product competitiveness and market share in the field of military equipment ; Initiate refinancing to provide new growth momentum for the company’s long-term development. (Proofreading/Lee)