This morning, the A-share main board market as A whole shook up, the Shanghai 50 index fell more than 2%, A new low in nearly four years, the Shanghai index fell close to 3000 points; Kechuang board is relatively strong, the opening of a straight line up, up more than 2%, and then with the market fell back, but as of the noon close, still bucking the trend.
On the plate, military concept stocks were once again strong across the board, large aircraft, national defense, drones, military-civilian integration and other sectors rose against the trend, and wine, daily chemical, insurance, hotel catering and other sectors fell in front. The net outflow of northbound capital was 9.167 billion yuan.
In the weak market, military stocks frequently stronger, this morning, the defense military sector against the trend of high open higher, the plate index rose more than 3%, 11 trading days after the National Day, 9 days up, only 2 days down, during the cumulative rise of nearly 10%, Mengsheng electronics, brilliant technology and other limits or up more than 10%; The aviation manufacturing sector soared more than 5%, and the AVIC heavy machine rose by the daily limit; Large aircraft, satellite navigation, civil-military integration and other sectors rose more than 2% in the morning, and the strong daily limit of true vision pass.
Military-related ETF funds also rose collectively in the morning, and the top seven funds are related to the military industry. Among them, the defense ETF rose more than 6%, approaching the highest point of the year, and rose more than 11% after the National Day, trading 200 million yuan in only 1 hour of opening, far more than the previous trading day. The military leading ETF rose more than 5%, and the military ETF, the military ETF, and the high-end equipment ETF all rose more than 4%.
The popularity of military stocks is inseparable from the high prosperity of its industry and the high performance growth of related listed companies. According to statistics, as of the end of last week, A total of 32 A-share defense and military enterprises disclosed three quarterly reports or express or performance forecasts in 2022, all achieved net profit growth or pre-increase, and the median quarterly performance growth rate in the three quarters was 32.86%, which was the growth rate of 24.76% in the same period in 2021.
In addition, the 14th China International Aviation and Aerospace Expo will be held in Zhuhai International Air Show Center in Guangdong Province from November 8 to 13, and many high-end products will be displayed. This is also one of the important event power sources for the frequent strengthening of large aircraft, drones, satellite navigation and other plates.
For the performance of military stocks in the fourth quarter and next year, a number of institutions are still optimistic. Avic Securities believes that the overall performance growth rate of the military industry this year is still expected to be among the best in the industry, and the comparative advantage is not reduced. At the same time, with the acceleration of the release of industrial capacity starting next year, 2023 will be the first year of the concentrated release of military industry capacity, which means that the growth rate of the military industry is expected to continue to rise. Standing at the current point, under the strong fundamentals, the military sector has experienced the "kill valuation" in the third quarter, and has been near the lowest quarter in history since 2014, and the configuration value is prominent.
Recently, the overall weakness of the market, and the white horse stocks led by Guizhou Moutai frequently sharp pullback is inseparable. This morning, Kweichow Moutai opened lower again, fell sharply more than 6% during the day, fell below 1600 yuan round off, a new low in more than 2 years, 11 trading days after the National Day, 10 days down, only 1 day up, during the cumulative decline of more than 18%.
Affected by the heavy fall of Kweichow Moutai, liquor stocks across the board sharply reduced, Shanxi Fenjiu fell more than 8%, Luzhou Laojiao, Gujing Gong wine fell more than 5%, Wuliangye, Yanghe shares fell more than 4%.
And the overall decline of liquor, and led to the overall correction of the food and beverage sector, the sector index fell more than 2%, a new low in nearly 2 and a half years, Huatong shares fell by the limit, Jingzai food, Tianwei food, Dongpeng beverage, etc. Beverage ETF, food ETF, wine ETF, etc., also fell more than 4%.
In the face of falling stock prices, some investors suspect that institutions are fleeing en masse. Recently, some investors asked in Shanghai e Interactive: "The first quarter of 2022 shows that Kweichow Moutai institutional shareholding is 77.25%, the second quarter institutional shareholding is 79.4%, and the third quarter institutional shareholding is 71.54%." In October, stock prices fell sharply, and northbound funds continued to sell Kweichow Moutai billions of dollars a day. In the third quarter, the number of institutions fell sharply by 2,659, and the data reached an appalling degree, which is a huge negative for Kweichow Moutai shares, and makes us these minority shareholders frightened and upset! May I ask the Secretary of the Board whether the reduction data of the above institutions are objective and true? How will you respond in terms of performance?"
Immediately, Kweichow Moutai responded: "The change of institutional shareholders' shareholding is not true, the company's" third quarter Report 2022 "disclosed that the total shareholding ratio of the company's top ten shareholders is 71.54%, and there are a large number of institutional shareholders after the top ten shareholders." In the fourth quarter of 2022, the company will continue to focus on its strategic goals and annual work schedule, go all out to deepen reform, innovate, promote high-quality development, strive to achieve development goals, and create more value for shareholders." For more information, please see "Growth rate hit a new high in nearly four years, Kweichow Moutai: confident to complete the annual performance target set at the beginning of the year"
However, from the point of view of the north after the National Day, it is true that it continues to reduce Kweichow Moutai, as of the end of last week, in the 10 trading days, there are 8 trading days to reduce holdings, only 2 trading days to slightly increase holdings, during the total reduction of 5.35 million shares, according to the middle price of about 1700 yuan, cash out of more than 9 billion yuan.
Although Kweichow Moutai continues to fall, from the recent research report released by the institution, the institution is still one-sided and optimistic, and even gave a higher target price. China Post Securities believes that high-end liquor maintained steady growth in the third quarter, series of liquor accelerated, and in the face of weak approval prices in the industry, Kweichow Moutai flexibly adjusted the pace of direct sales and i Moutai. The increase in the proportion of direct sales led to the increase in the gross profit margin of high-end wines to offset the impact of the increase in the proportion of series wines, and the advance receipts were further close to the historical high and the subsequent potential energy was full. Considering the continuous release of reform dividends, a target price of 2500 yuan is given.
Source: Securities Times
