Main recommendations
If the policy is overweight, the CBRC will introduce a plan to support the development of the private economy.
The national centralized procurement pilot officially landed, benefiting high-quality leading enterprises.
Market review
Market comment: The large-cap plate is in a benign interactive round of speculation, and the structural stock market can still be expected, so we should grasp the main line of the market to participate.
Macro-perspective: SASAC: Nearly 200 mixed-ownership enterprises have launched employee stock ownership pilot projects.
Brokerage industry: continue to recommend leading brokers, and the favorable policies are worth looking forward to.
Futures information
Metal energy: gold 277. 10, up 0.47%; Copper 49820, up 0.44%; Rebar 3709, down1.20%; Rubber 1 1205, down 0.66%; The PVC index was 6370, down by 0.39%; Zheng Chun 27 16, down 0.84%; Shanghai Aluminum 13850, up by 0.58%; Shanghai Nickel 93 180, down1.40%; Iron ore 5 15.5, up1.48%; Coke 2300.0, down1.73%; Coking coal 1352.0, down 0.18%; Fiberboard 76.40, down 5.03%; Brent oil was 67.33, down 0.07%.
Agricultural products: soybean oil 5454, down 0.22%; Corn 1956, up 0.51%; Palm oil 4344, down1.18%; Cotton 15265, down 0.65%; Zheng Mai 2634, up 0.57%; Sugar 4957, down1.08%; Apple 12024, down 0.90%.
Exchange rate: Euro/USD 1. 14, up by 0.32%; USD/RMB 6.94, up 0.04%; USD/HK$ 7.83, up 0.04%.
Main recommendations
1, the policy will be overweight, and the CBRC will issue a plan to support the development of the private economy.
Event: June 165438+ 10/9 Liang Zhou, vice chairman of the China Banking Regulatory Commission, said at the 9th Caixin Summit that the CBRC would issue guidance on supporting the private economy this week.
Comments: Liang Zhou, vice chairman of the China Banking Regulatory Commission, said at Caixin Summit that the China Banking Regulatory Commission actively implemented the policy requirements of "six stabilities" and urged banks and insurance institutions to return to the origin of serving the real economy. Liang Zhou said that he would resolutely implement the policy of treating the state-owned economy and private enterprises equally, and asked banks and insurance institutions to take effective measures to solve the difficult and expensive financing problem of private enterprises and small and micro enterprises, and do more things like "giving charcoal in the snow", instead of blindly cutting off or withdrawing loans from enterprises with temporary difficulties but normal operations. Since the beginning of this year, the government has taken a series of measures to solve the difficulties and problems in the development of private enterprises in order to promote the sustained, healthy and stable development of private enterprises. Recently, under the policy guidance of the regulatory authorities to support the private economy, major banks have also introduced a new round of measures to support the development of private enterprises and provide financing for private enterprises. With the policy support of banks, the credit environment of private enterprises has generally improved. With the introduction and implementation of a series of policies and measures, the development of private economy will usher in a better business environment, thus promoting the stable development of the overall economy.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
The national centralized procurement pilot officially landed, benefiting high-quality leading enterprises.
Event:165438+1October 15. With the approval of the National Medical Insurance Bureau, the "4+7 Urban Drug Centralized Procurement Document" was officially released.
Comments: An important purpose of national centralized procurement is to explore the formation mechanism of medical insurance payment price. Purchasing with quantity will open up the links of purchasing, medical insurance and clinical use, promote the equal competition between generic drugs with consistent quality and efficacy and the original research drugs, and break the high-priced monopoly of patented original research drugs on the drug market. Exchanging price for quantity can reduce the sales expenses of enterprises. Because the scale of drugs in pilot cities accounts for 30% of the country, there is a huge market space for quantity procurement. At present, only through consistency evaluation can we compete, which can effectively stimulate the enthusiasm of enterprise consistency evaluation. The purpose of purchasing with quantity is to gradually squeeze out the moisture of drug price and improve the drug use structure through centralized national procurement, which is conducive to improving the enthusiasm of innovative drug enterprises and innovating CRO and CMO enterprises in the industrial chain.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
Market review
1, Market Comment: The large-cap plate has a benign interaction and a round of speculation. The structural stock market can still be expected, and the main line of the market can be grasped to participate.
On Monday, the market oscillated and rebounded, and the Shanghai Composite Index tested 2700 points upwards. Disk observation, venture capital, brokerage, real estate, xiong'an new area and other sectors were among the top gainers, while cultural media, steel and other sectors fell. At the close, the Shanghai Composite Index reported 2703.5 1 point, up 0.91%; The Shenzhen Component Index reported 8 108.85 points, an increase of 0.58%; Chuangzhi Bao 1394.4 points, down 0.63%. Short-term look at the benign interactive speculation in the market sector, and individual stocks remain active. It is expected that the market will continue to fluctuate and rebound. In operation, it is suggested that the index should be light, the stocks should be heavy, the pace of fast-forward and fast-out should be maintained, and the brokers, venture capital, biomedicine, electronic communication and state-owned enterprises should be paid attention to on dips. The stock market is risky, so you need to be cautious in investing.
(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)
2. Macro perspective: SASAC: Nearly 200 mixed-ownership enterprises have carried out employee stock ownership pilot projects.
Weng, deputy director of the State-owned Assets Supervision and Administration Commission, recently wrote that since the 18th National Congress of the Communist Party of China, the reform of mixed ownership of state-owned enterprises has entered a new stage, showing a good trend of accelerating pace and broadening fields, creating a number of typical experiences that can be replicated and popularized, and achieving positive progress and remarkable results. From August 2065438 to August 2006, the pilot project of employee stock ownership in mixed ownership enterprises was officially launched, and nearly 200 enterprises across the country have carried out this pilot project.
(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)
Brokerage industry: continue to recommend leading brokers, and the favorable policies are worth looking forward to.
Catalytic factors of the securities industry: the important change is the policy shift, and the speed of policy landing exceeds expectations. The core logic gradually switches from the valuation repair brought about by resolving the risk of equity pledge to the valuation improvement brought about by the expected capital market reform. The continuous landing of the policy dividend will drive the brokerage valuation to continue to increase at the current historical low. The core logic of securities firm valuation repair has gradually switched from resolving the risk of equity pledge to the overall reform of the capital market. The continuous landing of policy dividends will drive the valuation of securities firms to continue to improve, and the trend of increasing concentration is very clear.
(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)