The A-share market further rose this morning, with major indices continuing to rise, with the Shanghai Composite Index recovering 2800 points. Small value stocks performed better, with the CSI 1000 index rising 5% in the morning.
In terms of the Hong Kong stock market, there was a significant increase this morning, but the increase has since declined. Hong Kong stock Yum! China performed well this morning, with an intraday increase of over 28%.
Small market value stocks continue to outperform the CSI 1000 index, with a 5% surge
The A-share market further rose this morning, with the Shanghai Composite Index recovering 2800 points, an increase of 0.91%. The Shenzhen Component Index rose even more, reaching 2.95%. The ChiNext Index and the Science and Technology Innovation 50 Index also performed well, with gains of 2.31% and 3.19%, respectively.
From the perspective of industry and track sectors, over 90% of industry sectors in the market have risen, while sectors such as defense and military industry, pharmaceuticals and biotechnology, steel, and non-ferrous metals have seen the highest gains. These sectors have all seen intraday gains of over 3%.
The automotive industry chain stocks saw a significant increase, with Celes hitting the daily limit this morning, with its latest market value exceeding 100 billion yuan. China National Machinery Corporation rose 8.01%, while Changan Automobile rose 4.97% in the morning.
The voluntary disclosure announcement of Changan Automobile's January 2024 production and sales report released last night showed that Changan Automobile sold 280367 vehicles in January, an increase of 63.19% year-on-year; The sales of domestic brands reached 241485 units, an increase of 65.10% year-on-year; The sales of self owned passenger cars reached 196689 units, an increase of 57.78% year-on-year; The overseas sales of independent brands reached 46620 units, an increase of 160.23% year-on-year. The sales of domestic brand new energy in January were 52581 units, an increase of 87.58% year-on-year.
The banking sector fell, becoming one of the few sectors to fall this morning, with some large cap banking stocks experiencing adjustments.
Overall, small cap stocks performed better than large cap stocks in the morning.
Market data shows that the CSI 1000 index surged 5% in the morning, far exceeding the performance of some other major market indices. The data shows that the CSI 1000 Index selects 1000 smaller and more liquid securities outside of the CSI 800 Index sample as the index sample, complementing indices such as the CSI 300 and CSI 500.
On February 6th, Central Huijin Corporation announced that it fully recognizes the current allocation value of the A-share market and has recently expanded the scope of holdings of trading open-ended index funds (ETFs). It will continue to increase its holdings and expand its scale, firmly safeguarding the stable operation of the capital market.
In terms of other stocks with significant fluctuations in stock prices, WuXi AppTec's A-share market surged 7.39% in the morning.
The new stock, Chengdu Huawei, rose 58.57% at one point in mid afternoon trading
Today, a new stock was listed in the A-share market, which is Chengdu Huawei. The stock rose as high as 58.57% in mid afternoon trading.
According to the prospectus, Chengdu Huawei focuses on the research and development, design, testing, and sales of special integrated circuits, with providing overall solutions for signal processing and control systems as its industrial development direction. Its main products cover two major fields: special digital and analog integrated circuits. Digital integrated circuit products include logic chips, storage chips, and microcontrollers represented by programmable logic devices (CPLD/FPGA), while analog integrated circuit products include data conversion (ADC/DAC), bus interfaces, and power management. The products are widely used in special fields such as electronics, communication, control, and measurement.
According to the prospectus, in terms of technology and research and development, the company attaches great importance to investment in product and technology research and development. In the past three years, the cumulative R&D expenses of self funded and nationally allocated R&D projects account for 44.28% of the cumulative operating income. The company has formed a series of core technological achievements, and its overall technical reserves are in the first tier of the special integrated circuit design industry. It has multiple invention patents, integrated circuit layout design rights, software copyrights, etc. It is in a leading position in related technologies such as large-scale FPGA and CPLD, high-precision ADC, etc. in China.
Hong Kong stock Yum! China surged over 28% this morning
The Hong Kong stock market rose sharply this morning, but the gains have since fallen.
Hong Kong stock Yum! China performed well this morning, with an intraday increase of over 28%.
Yum! Brands China released its financial performance report for the fourth quarter of 2023, announcing a 23% increase in dividends and expanding stock repurchases to $1.25 billion in 2024.
Yum! Brands China announced that its system sales increased by 21%, operating profit increased by 170%, and core operating profit increased by 324% in the fourth quarter of 2023. The annual system sales increased by 21%, operating profit increased by 76% to 1.1 billion US dollars, and core operating profit increased by 79%.
Yum! Brands China achieved a record high performance in 2023, with a total revenue of $11 billion, adjusted operating profit of $1.1 billion, and a net increase of 1697 new stores.
In addition, based on the specific financial performance highlights of the fourth quarter of 2023, the system's sales increased by 21% compared to the same period last year, excluding the impact of foreign currency conversion. The growth is mainly due to a 12% net increase in new stores, a 4% increase in same store sales, and the low base effect caused by the temporary closure of stores during the previous year's epidemic. As of December 31, 2023, the total number of stores reached 14644. KFC has 10296 stores and Pizzahut has 3312 stores. Operating profit increased by 170% to $110 million. Core operating profit increased by 324%. The restaurant's profit margin has expanded to 10.7%. Excluding items that affect comparability at the restaurant level, such as temporary subsidies and value-added tax deductions in the past two years, the restaurant's profits increased by 170 basis points. Diluted earnings per share increased by 77% to $0.23. Excluding the adverse effects of special projects, foreign currency conversion of 0.01 US dollars, and a loss of 0.04 US dollars from the company's equity investment in Meituan valued at market value, the growth rate is 164%.
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