On Friday, the A-share market fluctuated lower after opening low in the morning, and the chinext index led the decline. As of the noon close, the Shanghai index was down 0.64 percent, the Shenzhen component index was down 1.21 percent and the chinext index was down 1.51 percent
On the disk, Huawei concept stocks continue to be active, and Oufei Light gains 6 connected boards; Auto industry chain stocks rose during the session, Salis, Shenglong shares, etc. In terms of decline, new energy track stocks such as photovoltaic fell into adjustment, and food processing and household light industry also fell.
In Hong Kong, the Hang Seng Index jumped to open lower in early trading. Hang Seng index down more than 2% at press time. Technology stocks pulled back, with JD.com Group down more than 12% and Baidu Group down more than 5%.
Huawei concept stocks active, Oufei light harvest 6 board
This morning, Huawei concept stocks were repeatedly active, as of the noon close, Shuobei, TPV Technology, Ofei light and many other shares rose by the daily limit, of which Ofei light harvested "six board".
Opfi Light is a company whose main business is smart phones and new fields of business, mainly providing optical image modules, optical lenses, microelectronics and smart car related products, which are widely used in the field of consumer electronics.
Previously, it was reported that the Ofe optical camera module entered the Huawei Mate 60 series supply chain and accounted for the vast majority of the share. Its chairman, CAI Rongjun, responded: "Stubbornly alive."
Guoxin Securities said that a number of consumer electronics companies performance growth in the second quarter is obvious, overall, electronic fundamentals are gradually improving, medium - and long-term AI is expected to empower consumer electronics, bring new replacement demand, optimistic demand for better, autonomous controllable and AI new technology demand driven benefit industry chain.
The whole car sector surged
Early in the morning, the auto industry chain stocks were active, Salis rose more than 9%, Zotye Automobile, BAIC Blue Valley, Jianghuai Automobile and other shares followed.
On the news, the Ministry of Commerce and other nine departments recently jointly issued the "Guiding Opinions on Promoting the high-quality development of the Automotive Aftermarket" (hereinafter referred to as the "Guiding Opinions"), which clarified the overall goals and main tasks of the development of the automotive aftermarket, and the system deployment to promote the high-quality development of the automotive aftermarket.
In addition, on October 11, the Passenger Association held the national passenger car market analysis conference in September. Cui Dongshu, secretary general of the association, said at the meeting that in September this year, the car market retail trend was stable, the car market was at the end of the third quarter in the month, the end of the quarter sprint drove the promotion significantly stronger, fuel vehicles and new energy vehicles promotional efforts increased, consumer demand for cars has been released.
Cinda Securities said that driven by the three core factors of policy stimulus, intelligent catalysis and inventory cycle switching, the sales, earnings and valuation of the automotive sector are expected to continue to improve since the third quarter of 2023.
Jd.com Hong Kong shares tumbled, hit a new low since the listing
As of press time, JD Hong Kong shares fell more than 12%, the share price of 102.8 Hong Kong dollars, a new listing low, the latest total market value of 326.9 billion Hong Kong dollars.
On the news, a number of international banks have collectively downgraded Jingdong. Macquarie downgraded JD.com's Hong Kong shares to neutral with a target price of HK $124. Jingdong Group's US ADR rating was downgraded to neutral, with a target price of $32. Morgan Stanley downgraded the ADR rating of Jingdong Group to equal weight with a target price of $33.
Nomura reported that it expected JD SW's third-quarter revenue to rise 1 per cent year-on-year to Rmb246bn, compared with its guidance of flat to 5 per cent growth, near the low end and 3 per cent below market expectations of Rmb254bn. Jd's retail revenue was estimated to be flat year-on-year at Rmb212bn, 4 per cent below market expectations of Rmb220bn, with a retail operating margin of 4.8 per cent.
Hundred Orchard Group soared
In early trading, Hong Kong stocks Baiyuan Group surged, up more than 9% at HK $6.1 as of press time, with the latest total market value of HK $9.690 billion.
On the news, on October 10, Hundred Orchard Group's wholly-owned subsidiary Hundred Orchard Investment entered into an equity transfer agreement with Shenzhen Tiantu Dongfeng. Baiguoyuan Investment agreed to acquire approximately 19.58% of the equity of Shenzhen Bangguo (equivalent to the registered capital of 3.9753 million yuan) for a cash consideration of 14.3766 million yuan (the same as the unit below). Upon completion, the company will hold 51% equity interest in Shenzhen Bangguo. It is reported that Shenzhen General Fruit is mainly engaged in providing procurement platforms to small enterprises.
Baiguoyuan Group believes that the further acquisition of the equity interest in Shenzhen Bangguo and the incorporation of its financial results into the Company's financial statements will bring strategic synergies to the Company and the business of Shenzhen Bangguo, which will further enhance the Group's overall supply chain capabilities and market share in fruit supply to 2B(business-to-business) customers.