Main recommendations
Ministry of Finance: From June 5438 to April, the after-tax net profit of state-owned enterprises was 2105.6 billion yuan, down 74.3% year-on-year.
Miao Wei, Minister of Industry and Information Technology: China is adding more than 1 10,000 5G base stations every week.
Market review
Market comments: Shake the market, choose industries with strong performance certainty as the configuration, and pay attention to the domestic demand sector.
Macro perspective: solidly promote the preparation of the 14 th Five-Year Plan and plan major investments in the energy field.
Construction machinery: the policy supports the machinery industry to maintain a high prosperity, and the valuation of industry leaders needs to be improved.
Futures information
Metal energy: gold 393.30, up 0.21%; Copper 43650, down 0.21%; Rebar 3467, down1.39%; Rubber 10490, down 0.19%; The PVC index was 6055, up by 0.58%; Zheng Chun 1703, down1.50%; Shanghai Aluminum 12755, up 0.12%; Shanghai nickel 100690, down1.97%; Iron ore 7 12.0, down 0.35%; Coke 1866.0, up by 2.25%; Coking coal 1 15 1.0, up by 0.09%; Brent oil 37.55, up1.21%; Asphalt 2456, up 3.63%; Glass 1427, up 3.71%; Manganese silicon 6888, down 3.34%;
Agricultural products: soybean oil 5486, up 0.55%; Corn 2049, up1.04%; Palm oil 46 10, up 0.70%; Zheng Mian 1 1700, down 0.55%; Zheng Mai 2483, down 0.80%; White sugar 4990, up 0.20%; Apple 895 1, up 0.44%; Jujube 10 170, down 0.49%;
Exchange rate: Euro/USD 1.09, down 0.06%; USD/RMB 7. 14, up 0.14%; USD/HK$ 7.75, down 0.03%.
Second, the key recommendation
1, Ministry of Finance: From June to April, the after-tax net profit of state-owned enterprises was 2105.6 billion yuan, down 74.3% year-on-year.
Event: According to the data of the Ministry of Finance, from June 5438 to April, the after-tax net profit of state-owned enterprises was 2105.6 billion yuan, down 74.3% year-on-year, and the net profit attributable to the owners of the parent company was 57.72 billion yuan. Central enterprises totaled 234.25 billion yuan, a year-on-year decrease of 59.5%. Local state-owned enterprises-23.69 billion yuan, down 109.8%.
Comments: From June 5438 to April, affected by the epidemic, the revenue and net profit of most enterprises fell sharply, which was a short-term phenomenon and also met market expectations. With the effective control of the domestic epidemic, consumption and investment are recovering rapidly, and it is expected that the fundamentals will gradually improve, which will support the market to some extent.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
2. Minister of Industry and Information Technology Miao Wei: In April, the number of 5G customers increased by more than 7 million.
Event: Miao Wei, Minister of the Ministry of Industry and Information Technology, said on the "Ministerial Channel" that there are now more than 654.38+00,000 5G base stations on the land of the motherland every week. In April, there were 7 million 5G users, and the cumulative number has exceeded 36 million.
Comments: China's 5G construction is advancing rapidly. With the improvement of infrastructure and the decline in the price of 5G mobile phones, the number of 5G users is also growing rapidly. In view of the fact that there are more than 654.38 billion 4G users in China at present, there is a vast space for future upgrade, and the investment value of the 5G mobile phone industry chain is still outstanding.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
Third, the market review
Market comments: Shake the market, choose industries with strong performance certainty as the configuration, and pay attention to the domestic demand sector.
The stock index remained weak sideways on Monday. At the close, the Shanghai Composite Index reported 28 17.97 points, up 0. 15%, while the Shenzhen Component Index reported 10592.84 points, down 0. 1 1%. Chuangzhi reported 2052.30 points, up 0.28%. From the disk, mask aligner, medicine, food and beverage sectors remained relatively strong, with the highest gains; Technology sectors such as communications, 5G and consumer electronics were weak, ranking among the top losers. On the whole, the plate is obviously divided, and the marginal effect of making money in the market is weakened. However, recently, foreign capital has gone against the trend, preferring the core assets of A shares, and there are signs that funds from the north will enter the market. At present, there are double pressures of annual line and locking range in the market, and double support of market bottom and valuation bottom. It is expected that the short-term market fluctuation space is relatively limited, and it is more likely to fluctuate repeatedly along the central axis of the box, waiting for the chips to fully change hands before choosing the direction. In operation, it is suggested that the industries with strong performance certainty should be the core and direction of allocation, and the domestic demand sector should still be the main allocation in the near future. Although the impact of overseas events may cause some pressure on technology stocks in the short term, it will not cause panic, and it can still be rationally distributed on dips in the medium term. Specific industries can focus on construction machinery, building materials, new energy, food and beverage, semiconductor and other industries. The stock market is risky, so you need to be cautious in investing.
(investment consultant? Where's Gu? Registered Investment Consultant CertificateNo.: S026066 1 1020066)
Macro perspective: solidly promote the preparation of the 14 th Five-Year Plan and plan major investments in the energy field.
Event: According to official website news of the National Energy Administration, Zhang Jianhua, Party Secretary and Director of the National Energy Administration, said in an interview with the media that the Tenth Five-Year Plan should be solidly promoted, reform and innovation should be highlighted to solve development problems, and development goals, working ideas and key tasks should be scientifically put forward, so as to effectively improve the forward-looking, guiding and operability of the plan and give good expectations to the society. Plan major investments in the energy field, focus on the investment direction, plan and start a number of major investment projects around the development of new industries, new models and new formats of energy, and establish a rolling project reserve mechanism.
Comments: Energy is an important basic industry. High-quality energy development planning should be based on the present and focus on the long term. Plan major investments in the energy sector, focus on the investment direction, focus on the major strategies determined by the CPC Central Committee and the State Council, focus on the shortcomings and weaknesses that affect the development of the industry, focus on the development of new industries, new models and new formats of energy, plan and start a number of major investment projects, establish a rolling project reserve mechanism, promote the projects to land as soon as possible, form a physical workload, and give full play to the service guarantee role of the energy industry. It is reported that the energy industry is a medium-and long-term potential benefit, so we can pay due attention to relevant opportunities.
(investment consultant? Where's Gu? Registered Investment Consultant CertificateNo.: S026066 1 1020066)
Construction machinery: the policy supports the machinery industry to maintain a high prosperity, and the valuation of industry leaders needs to be improved.
The policy supports the continuation of the boom cycle of the construction machinery industry, and the industry has entered a new era of rising volume and price. In 20 19, the construction machinery industry achieved revenue of 253.98 billion yuan, up 26.5% year-on-year; The net profit of returning to the mother was 65.438+0.405 billion yuan, a year-on-year increase of 74%. In the first quarter of 2020, the construction machinery industry achieved revenue of 56.62 billion yuan, down11.3% year-on-year; The net profit of returning to the mother was 4.85 billion yuan, a year-on-year decrease of 27.2%. In the first quarter, affected by the COVID-19 epidemic, the performance of the construction machinery industry declined year-on-year, but in March, the resumption of work and production in various places gradually accelerated, and the demand for various construction machinery products increased. Since April, the construction machinery industry has ushered in a new era of rising volume and price. The price increase of major construction machinery products will also rebuild the good ecology of the upstream and downstream of the industrial chain, and the industry is expected to enter a high-quality development stage. It is recommended to focus on leading stocks.
(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)