20171115-兴业证券-A-Share_Daily_Express_4页_756kb

报告摘要

Market Indices:
- SSE Composite: Closed at 3402.52, down 0.79%
- SZSE Component: Closed at 11462.11, down 1.046%
- CSI 300: Closed at 4073.67, down 0.63%
- ChiNext Index: Closed at 1868.08, down 1.51%
- HSI: Closed at 28851.69, down 1.03%
- HSCEI: Closed at 11412.75, down 1.63%
Market Volume: CNY 524.36 billion (USD 78.26 billion), a 13% decrease from the previous day
Market Sentiment: Panic sentiment spread, with small-cap tech and new energy auto stocks leading the decline. Winners outnumbered losers by 925 to 2184.

Liquor Makers: Rebounded as consumption sectors were viewed as safe havens.
- Wuliangye Yibin Co., Ltd. (000858): +3.62%
- Kweichow Moutai Co., Ltd. (600519): +1.37%
Home Appliances: Strong performance.
- Qingdao Haier Co., Ltd. (600690): +2.30%
- Gree Electric Appliances, Inc. of Zhuhai (000651): +1.34%
Gold Names: Outperformed the market.
- Yantai Yuancheng Gold Co., Ltd. (600766): +7.15%

IC Makers: Slumped due to profit-taking.
- Goke Microelectronics Co., Ltd. (300672): -9.47%
- Ingenic Semiconductor Co., Ltd. (300223): -8.30%
New Energy Auto Related Names: Tumbled significantly.
- Zhejiang Huayou Cobalt Co., Ltd. (603799): -7.42%
- Zhengzhou Yutong Bus Co., Ltd. (600066): -7.19%
Insurers: Weak performance.
- China Life Insurance (601628): -3.83%

Hon Hai Precision Industry: Reported a 39% decline in net income due to technical issues affecting Apple's iPhone production.
Ant Financial: Expected to nearly double users of its payment systems in coming years.
Central China Securities: Seeking approval for an A-share convertible corporate bond, with the review suspended.
China's Coal Policy: State-owned power generators must lock in at least 75% of coal consumption via long-term contracts.
Yuan Forex Positions: Increased by 2.1 billion yuan to 21.5 trillion yuan.
China Ministry of Finance: Plans to sell 32 billion yuan of seven-year bonds at 4.03%.
Deutsche Bank CEO: Met with HNA Group CEO in Germany.
State Grid: Declared bitcoin mining using electricity illegal.
Nickel Prices: Fell by 5.9% due to late-night selloffs in Chinese metals.

Cathay Pacific: To buy 40% of AHK Air Hong Kong for HK$36.3 million.
China Vanke: Involved in emerging-market bond pipeline with Gazprom, YPF, and Hong Yang Group.
Cnooc: Added BFR, TSM, CEO, YUMC, GGB in 3Q.
Hisense Electric: To acquire 95% of Toshiba Visual Solutions.
Semiconductor Manufacturing: Missed 3Q net income estimates.

Q3 Revenue: CNY 318.4 billion, up 15% YoY.
Q3 Net Profit: CNY 15.1 billion, down 31% YoY.
Pig Market: Increased supply led to price drops and profit losses.
Chicken Market: Slight rebound in prices, but small chicken prices remained down.
Feed Segment: Net profit reached CNY 1.91 billion, up 53% YoY, driven by rising sales.
Vaccine Companies: Performance diverged due to PRPS vaccine bidding cancellation and bird flu outbreak.
Seed Industry: Q3 is off-season, but deposit increases indicate potential for strong Q4 performance.

Plantation Industry Chain: Expected to benefit from Q4 agricultural policy releases. Key companies: Heilongjiang Agriculture, Gansu Yasheng Industrial (Group), China Hainan Rubber Industry Group, Jiangsu Provincial Agricultural Reclamation and Development.
Seed Industry: Monitor Yuan Longping High-Tech Agriculture, Shandong Denghai Seed, and Winall Hi-Tech Seed.
Leading Companies: Haid Group, Yuan Longping High-Tech Agriculture, and Jinyu Bio-Technology are highlighted.

Industry Rating: Overweight (performing better than the market)
Company Ratings:
- Strong Buy: Yuan Longping (000998.SZ), Haid Group (002311.SZ)
- Buy: Guangdong Wen's Food Stuff Group (300498.SZ), Jinyu Bio-Technology (600201.SH), Shanghai Xuerong Bio-Technology (300511.SZ)

The report is for internal use only and is based on public information.
The Company does not guarantee the authenticity, accuracy, or completeness of the information.
The report may contain conflicting views and recommendations, and no obligation is assumed to update the information.

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