CITIC Securities: cycle logic desalination, growth and valuation repair

CITIC Securities: cycle logic desalination, growth and valuation repair
Qiu Xiang, Qin Peijing, Yang Lingxiu, Yang Fan, Li Shihao, commodity prices have slowed down, domestic inflation expectations have fallen in stages, monetary tightening expectations have eased, incremental funds have gradually entered, stock funds have been adjusted to lead to market diffusion, and the cycle logic of A-share market has weakened in stages, Growth plate is expected to usher in a round of monthly level valuation repair market. First of all, since the beginning of this year, the rapid rise of commodity prices has begun to have a negative impact on economic expectations, which in turn restricts the sustainability of price increases. Timely response of policies has also effectively restrained short-term speculation, which can alleviate the trend of rapid rise of commodities. Secondly, the revision of commodity prices starting from mid May is expected to ease the expectation of tightening domestic monetary policy, drive incremental funds to enter the market steadily and continuously, while the stock funds are expected to increase from the next week

Haitong strategy: stock market will rise eventually, intelligent manufacturing is expected to become a new main line

Haitong strategy: stock market will rise eventually, intelligent manufacturing is expected to become a new main line
[Haitong strategy] earnings rise and stock market rise in the early stage of inflation (xunyugen, Liying) source: xunze’s core conclusion: ① looking back on the history of 06-08 and 09-11, a complete price rise cycle of 2-2.5 years, corporate earnings expansion in the early stage of inflation and earnings compression in the later stage. ② Generally, there are two waves of commodity price rise, which are driven by capital and demand respectively. This time, the capital drive has fully responded. The second wave needs to be observed and waited for the global epidemic prevention and control. ③ This year is in the early stage of inflation, enterprise profits are still expanding, and the stock market will eventually rise. Intelligent manufacturing is expected to become a new main line. In April, China’s PPI was 6.8% year-on-year, higher than the previous value of 4.4% and the expected value of 6.21%, and the US CPI was 4.2% year-on-year

Heavy events and data forecast for the week of May 17-23

Heavy events and data forecast for the week of May 17-23
Original title: China gift package to be delivered! The week of 17-23 may will see China release April consumption, investment and industrial data, the euro zone release GDP and PMI data, and the UK release employment, inflation and consumption data. In terms of the incident, the Federal Reserve will release the minutes of its April meeting, and several officials will still make public speeches. Monday (May 17) key words: China consumption, China fixed investment, China industry, Bostic, and Fang Xiaodan, director of the household survey department of the National Bureau of statistics of Clarida, said that in the first quarter, China’s per capita disposable income continued the trend of quarter by quarter growth since the same period last year, maintaining a stable and restorative growth, “In China, major achievements have been made in coordinating epidemic prevention and control and economic and social development, and residents’ income has increased

Investor’s question: what is the impact of the rise in commodity prices on the company’s product costs?

Investor's question: what is the impact of the rise in commodity prices on the company's product costs?
Investor’s question: what is the impact of the rise in commodity prices on the company’s product costs? Investor’s question: what is the impact of the rise in commodity prices on the company’s product costs? Secretary Dong replied (z300136): Hello, the rising price of raw materials will have a certain impact on the company’s operating costs, but the company has formulated strict internal control procedures, and through the purchase of raw materials, continuous optimization of process and strengthening of internal management, it tries to digest the impact of the price fluctuation of raw materials and keep the company’s daily stable operation. On the whole, the rise in commodity prices has little impact on the company’s costs. Secretary Dong: Hello, the rising price of raw materials will have a certain impact on the company’s operating costs, but the company has strict internal control procedures