A shares can also contract your daily life! Milk stocks, liquor stocks, mustard stocks, soy sauce stocks, white vinegar stocks, instant noodle stocks... Last week, stocks related to basic life rose one after another and also swiped A shares. The mid-year news market is coming to an end, and the performance of the food and beverage board is outstanding. Many companies, including Miss You, Miao Ke Lan Duo, Haixin Food, Sanquan Food, etc., have doubled their net profit in the first half of the year.
In the morning of August 28, Yili shares gapped and opened higher, and then the stock price reached a record high by the daily limit and closed at 40.59 yuan per share. In the past three months, Yili's market value has continuously refreshed historical records, and is approaching 250 billion. In the last 60 trading days, Yili's share price has risen by 44.98%.
Yili's daily limit boosted the dairy sector, the dairy index closed up 4.91% on the day, and many stocks in the sector followed up, bright Dairy industry daily limit, Western Animal Husbandry rose 8.59%, Tianrun Dairy and Chenguang Bio rose 7.58% and 7.50% respectively, Yantang Dairy rose 5.92%.
The consumption of dairy products recovered strongly in the second quarter, and the results greatly exceeded market expectations. Relevant data show that from 2015 to 2019, the average annual compound growth rate of my country's dairy product market was 4.56%, and the total retail sales of dairy products market exceeded 400 billion yuan in 2019. According to the agency's forecast, my country's dairy product market will continue to develop steadily in the next five years, and by 2024, the retail sales of dairy products may exceed 550 billion yuan. Minsheng Securities also stated that at present, the dairy sector is the sub-sector with the lowest valuation of the entire food and beverage sector, and the allocation value is prominent.
Liquor stocks also led the market last week. On August 27, Luzhou Laojiao released its interim report. In the first half of the year, the company achieved operating income of 7.634 billion yuan, a year-on-year decrease of 4.72%; net profit was 3.22 billion yuan, a year-on-year increase of 17.12%, significantly ahead of its peers.
Stimulated by the semi-annual report data, Luzhou Laojiao rose sharply in the intraday on August 28, once rising to 8.77%, The final share price closed at 151.49 yuan, and the market value also reached 221.9 billion yuan, surpassing Yanghe shares. The stock price of Luzhou Laojiao broke through the 100-yuan mark on July 2. In the past 60 trading days, the stock price has risen by 75.35%. Among the 20 food and beverage stocks whose share prices hit a record high last week, three liquor stocks including Gujing Gongjiu, Luzhou Laojiao and Wuliangye were included.
The stock price of soy sauce stocks is not "soy sauce". On the evening of August 27, Haitian Flavor Industry, known as "Jiao Mao", released its semi-annual report. The company achieved revenue of 11.595 billion yuan, an increase of 14.12% year-on-year; net profit was 3.253 billion yuan, an increase of 18.27% year-on-year. Since its listing, Haitian Flavor's revenue and net profit have grown by more than 10% every quarter. Not only did Haitian Flavor's share price hit a record high of 180.90 yuan during the session on August 27, but the company's latest market value was 586.2 billion yuan. It was also ahead of Midea Group, Hengrui Medicine, and Sinopec, ranking tenth in the A-share market.
Food and beverage didn't just start "dancing" last week. Judging from the performance of the Shenwan primary industry index since August, as of the close of trading on August 28, the food and beverage index rose 10.83% to top the list, and it was the only index among the 28 industry indexes that increased by more than 10%.
From the perspective of industry constituent stocks, after excluding the new stocks, 25 food and beverage stocks rose more than 20% in the month , The share price of Youyou Foods, a snack food concept stock, soared 63.64%. The stock price of 33 stocks including Yanjinpuzi, Longda Meat, Sanquan Food, Hengshun Vinegar, Luzhou Laojiao, Fuling Mustard, Qianhe Taste, Gujing Tribute Wine, and Jinshiyuan hit a new record. new highs.
In this regard, Huayan InvestmentZi Li Yuankai said that most of the food and beverage stocks announced their interim results this year are very eye-catching. The performance of companies such as Yili has exceeded market expectations. The food and beverage sector can still adjust to the direction of increasing positions on dips.
As Baotuan stocks continue to gain relatively high gains, food and beverages are also facing concerns about overvaluation. As for why food and beverage stocks will rise sharply in August, and from an investment point of view, Whether the food and beverage industry is still a good direction for the expansion of warehouses, private equity Pai Pai (WeChat ID: simuppw) also interviewed Yang Wei, general manager of Shennong Investment, Longyuan Investment, and Yang Yinghua, general manager of Shuimu Changliang.
Shennong Investment: Long-term optimistic about the prosperity of the food and beverage sector
The market fluctuated greatly in July, and the market's preference for performance-determined targets has increased since August. The interim reports of the leading targets in the food and beverage sector have successively disclosed that most of them have improved significantly in the second quarter. Whether it is high-end liquor or the leader of the sub-sectors such as condiments, dairy products, and meat products, both revenue and profit have exceeded market expectations. Boosted market confidence in the food and beverage sector. The test of outstanding companies in the face of the epidemic reflects their strong ability to seize opportunities, which is another proof of their comprehensive competitiveness.
In the long run, China is the best consumer market in the world, and there is still a lot of room for consumption upgrades and the growth of domestic brands. We are optimistic about the prosperity of the food and beverage sector for a long time, and we also see that the current sector valuation and institutional position ratio have reached historical highs, and there is no problem in continuing to increase the food and beverage sector in a relatively long time dimension.
Yang Wei, General Manager of Longyuan Investment: The fundamentals continue to improve and some targets still have allocation value
Since August, the food and beverage sector has achieved remarkable results. The excess returns are mainly driven by the performance of the interim report, the accelerated growth of consumer goods, and the recovery of optional consumer goods beyond expectations, which has driven the sector to continue to rise; secondly, in the context of monetary easing, the market's expected return rate has declined, and funds are more inclined to inflow. The food and beverage sector with high performance and stable cash flow; finally, the uncertainty of the external environment has increased recently, and the consumer sector with domestic demand is more favored by the market.
From an investment point of view, the PE of the food and beverage sector has reached a historically high level due to the rise in valuation brought about by the over-issue of currency, and the capital crowding degree is high, and the overall attractiveness of the sector has declined. However, for some targets whose fundamentals continue to improve in the future, although the valuation is at a reasonable upper limit, it is still worth configuring.
Yang Yinghua, general manager of Shuimu Changliang: It is an inevitable trend for funds to continue to hold together core assets
At present, the global stock market is generally in a situation of relatively large bubbles. The price-earnings ratio is near all-time highs. The total market value of A shares + Hong Kong shares + US Chinese stocks is higher than China's GDP in 2019. From this perspective, these listed companies are not undervalued.
In a few years, both the world and China, the tightening expectations are very small, and the stock market will still have a high probability of rising due to capital push. It is difficult to go up and down in an all-round way, and it is inevitable for the fund to hold a group in the core assets (the United States holds a group even more). In the continuous upward trend of U.S. stocks in recent years, U.S. funds have developed a routine, that is, they buy "core assets" every time they fall and pull back. It is estimated that China will also take this path.
Coming back to this question, like the answer to the previous question about pharma stocks. For core assets, this kind of gameplay is likely to continue. Every time it falls, it will add a little bit, which is a better solution under the game. The difference between China and the U.S. is that we always beat the drums to pass flowers faster. The U.S. can use a 15-20-year strategy. We may only be able to play for 5-10 years, which will push the average price-earnings ratio of core assets to an astonishing level. .Special statement: The content of the above article only represents the author's own views and does not represent the views or positions of Sina.com. If you have any questions about the content of the work, copyright or other issues, please contact Sina.com within 30 days after the work is published.