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Leading cloud service stocks (what are cloud service stocks)

Release Time:2022-06-16 Topic:leading stock Reading:96 Navigation:Stock Liao information > Finance > Invest > Leading cloud service stocks (what are cloud service stocks) phone-reading

Featured Summary: The product yields of active strategies and quantitative long strategies in each scale range are negative, and the average yield of products of companies with a scale of more than 10 billion is relatively high. , -3.70% and -2.19%, respectively. The average return on the products of companies whose stock active strategy scale is between 5 billion and 10 billion is relatively low, at -5.23%; quantitative long strategy."

One , cloud service stocks leading stocks

1. 6 currency categories: the average return of currency ETFs this week It continued to rise, with an average annualized return of 1.98% over the seven days.

2. And the negative basis has converged as a whole, and the impact of the negative basis in the next six months will be greatly reduced. At present, for a neutral strategy, the annualized hedging cost It has returned to a more friendly range. The excess level of stock selection by most quantitative managers can cover such basis costs, and products using IF as a hedging tool can even lock in a certain premium income.

3. Research conclusion With the launch of the registration system of the Science and Technology Innovation Board and the ChiNext Board, the 10% limit on the rise and fall of A shares that has been implemented for more than 20 years has gradually begun to be lifted. 26.2% of A-shares have a price limit of 20%. If the registration system is fully implemented in the near future, the existing 10% limit on A-shares will likely be lifted. In order to adapt to the future market, we will study the rise and fall The impact of the suspension on stock price behavior has its necessity and urgency.

4. Among the rest of the strategies, the CSI 300 Index Enhancement Strategy does not distinguish the frequency of the strategy and the CSI 500 Index Enhancement strategy follows in the middle and high frequency absolute returns, thanks to The good performance of the quantitative CTA sub-strategy, and the quantitative composite strategy also achieved good returns in 2020.

5. For the market, a tight election could mean increased uncertainty about the election and increased tail risk.

6. Excludes independent directors, supervisors, shareholders or actual controllers who individually or collectively hold more than 5% of the company's shares and their spouses, parents, and children.

7. On the whole, stock quantitative strategies, including quantitative stock selection and market neutral strategies, have a relatively neutral operating environment. In the future, it is still necessary to pay attention to the evolution direction of market conditions, and transactions are active. degree, the trend of individual stock volatility and the change in the style of small and large caps.

8. ▍If the incentive is just completed every year, the attributable net interest rate in 2021-23 is about 25% 2019A: 28.48%; 2020Q1-Q3: 29.71%.

The company's increased R&D efforts led to an increase in the expense ratio. The net profit attributable to the parent company in Q3 increased by 16.80% year-on-year in the first three quarters.

The euro was up 0.18% against the dollar at 1.2170.

The market value of bond assets decreased from 46.25% to 44.56% in 2020Q4.

Core View The stamp duty rate in the Hong Kong market has been raised from 0.10% to 0.13%, not for the purpose of regulating the stock market, but to increase government revenue and ease financial pressure.

Based on the estimated positions of fund stocks, this paper depicts the changes in the average style of public funds from three dimensions: small-cap allocation, market value exposure, and industry allocation.

The average increase of the stock portfolio in December was 2.27%, while the general market rose 2.40% in the same period. The return of the stock portfolio in December basically kept pace with the general market and performed well.

Among CITIC's first-tier industries, power equipment and new energy +88%, food and beverage +88%, consumer services +81%, national defense and military industry +72%, and pharmaceuticals 50% leading growth; 2 passive indexes The annual consumption and new energy vehicle ETF led the growth, and the Penghua China Securities Wine ETF ranked first with an annual increase of 125.21%;Among the 200 million yuan index-enhanced funds, there are 58 funds with an excess return of more than 5% in 2020, of which 43 funds have an information ratio of more than 3, and the overall performance is good.

Another key retro martial arts mobile game "My Knight" is scheduled to be launched in November. Currently, the official website has exceeded 1 million reservations, and TAPTAP reservations have exceeded 440,000.

We believe that the financing scale of the sector will drop significantly from the first quarter of 2021, which is the most direct catalyst for the sector.

Last week, 11 companies applied for listing counseling. This year, a total of 227 companies have applied for listing counseling.

The company is a leader in ophthalmic medical services, with outstanding endogenous + extension capabilities and continuous growth. After the epidemic, the company has recovered strongly, the business trend continues to improve, and its long-term competitiveness and moat continue to strengthen.

Therefore, to simulate all stock holdings, it is only necessary to estimate the remaining non-heavy holdings of the fund.

Taking into account the practical feasibility, it is recommended that ETF managers adapt to market hotspots and issue new funds that are currently concerned by market funds but lack tracking tools. Popular industry themed products, such as smart cars, cycles, ESG, etc., finally achieve full coverage of broad base, industry, theme, and SmartBeta ETF products, making ETF a standard asset allocation tool.

In general, the company achieved stable growth through product adjustment and capacity expansion in the first three quarters. In the single Q3 quarter when the overall demand was under pressure, the company was still able to achieve a year-on-year and month-on-month growth of 10%+ , mainly due to the company's insistence on research and development of accumulated technology, and the Q3 R&D expense rate remained at 4.9%, which made high-end products continue to be recognized. Considering that the company's high-end product certification for major customers will be successful next year, and the production capacity of Qingshan Lake Phase II will be opened one after another, we believe that the company's high-end product proportion will continue to increase, and the company can achieve solid and stable growth under such a development momentum.

Catering: According to the monitoring of the Ministry of Commerce, from October 1st to 8th, the sales of key retail and catering enterprises nationwide were about 1.6 trillion yuan, and the average daily sales were compared with last year's "November" gold. Weekly growth of 4.9%; Meituan big data shows that from October 1st to 6th, the national in-store catering transaction volume increased by 54% compared with the same period in September, and increased by 34.2% compared with last year's National Day.

The over-allocation ratio of the small and medium-sized board has changed from rising to falling, and the over-allocation ratio of the ChiNext board has continued to decline.

The spot exchange rate of offshore RMB against the US dollar closed at 6.4477, an appreciation of 0.20%.

Second, what are the cloud service stocks

In the first three quarters, the company continued to strengthen the management and control of period expenses, with a sales expense ratio of 0.30%, an administrative expense ratio of 1.87%, and a financial expense ratio of 0.80%. The same period last year was basically the same; during the reporting period, the company increased its R&D investment, and the R&D expense ratio was 1.27%, a year-on-year increase of 0.68%.

In the long run, multiple changes such as the company's e-commerce operation, social media marketing, and accelerated new promotion have been initiated; new brands have been incubated, international brands have been represented, and the two-wheel drive is expected to initially appear in 2020Q4.

If the final result of the general election is similar to the dispute in 2000, the ruling of the Supreme Court may play a key role.

Judging from the recent amplitude performance of the T0 stock pool, compared with September, the daily average amplitude of the stock pool in October dropped significantly, but was slightly higher than the average level in the past year.

In terms of the performance of individual stocks, Hengrui Medicine, Guodian NARI, Haier Zhijia and other stocks performed better, while other stocks were weak.

Investment advice We predict that the company's net profit in 20~22 years will be 1.26/2.33/327 million yuan, corresponding to a PE of 38X/ 21X/15X, in view of the continuous optimization of the company's product structure and the incremental contribution of new production capacity next year, our company can still be expected in the long run, and we will continue to maintain a "buy" rating.

The purpose of this article is to review the performance of stock-related floor options in 2020, focusing on the performance of stock ETF options and stock index options in 2020, related derivative indicators and related strategy portfolios .

If the final result of the general election is similar to the dispute in 2000, the ruling of the Supreme Court may play a key role.

If the authorities relax allowing mainland individuals to invest in overseas stocks, for mainland or Hong Kong Chinese securities firms such as Haitong International 0665; Overweight, Guotai Junan International 1788.HK; Overweight and Futu FUTU.US; Not rated Whether it will benefit will depend on the design of the mechanism.

"Human Effectiveness Index" to motivate objects to testThe personnel efficiency of the business department where the audit year is located shall be assessed, and the personnel efficiency of the business department where the incentive object is located is required to achieve positive growth compared with the previous fiscal year, which reflects the company's emphasis on the department's operational efficiency.

The exercise price is 34.47 yuan, the exercise condition for the first exercise period is that the net profit in 2020 is not less than 3 billion, and the exercise condition for the second exercise period is the accumulated net profit in 2020 and 2021. The profit is not less than 6.47 billion yuan, and the conditions for the exercise of the third option period are that the accumulated net profit from 2020 to 2022 is not less than 10.23 billion yuan.

In the domestic eye care category, the Marubi brand ranks first on Tmall, Vipshop and

Affected by the above news, the Hong Kong stock market and even the A-share market fell sharply.

Whether Chinese-funded securities firms in the Mainland or Hong Kong will benefit will depend on the design of the mechanism.

A shares and global valuations: Markets surged last week.

Therefore, to simulate all stock holdings, it is only necessary to estimate the remaining non-heavy holdings of the fund.

The short-term 21Q1 high growth has a strong certainty. In the mid-term, the company pays attention to the improvement of brand potential, and the driving force shifts from channel push to brand pull. At the same time, stock incentives lock in revenue growth, and shareholding companies expand and list investment returns are considerable. Long-term The company has benefited from the golden decade of catering, and the logic is clear in the short, medium and long term. We give a 50X valuation based on the 2022 performance and consider the equity incentive fee. The one-year target price is 112 yuan, and the company's "buy" rating is maintained.

In 2020, despite the impact of the epidemic, the Chinese economy has maintained strong resilience and the number of listed companies has steadily increased.

From a fundamental point of view, the company's operation has nothing to do with the setback of the full circulation of H shares.

Prospects for ETF development Although the number and scale of ETFs have achieved rapid development in the past two years, compared with the US market, the domestic ETF market is still in the early stage of development, and its product comprehensiveness and overall scale are still very large. room for improvement.

The incentive plan focuses on middle and senior management personnel and core technical personnel, and mobilizes their enthusiasm from top to bottom. A total of 93 people are incentivized by the plan, including Du Hongpu, the company's director and secretary of the board, and Li Aili, the chief financial officer, respectively. 80,000 shares were granted, each accounting for 3.94% of the total number of grants; 91 middle-level managers and core technology business personnel were granted a total of 1.473 million shares, accounting for 72.45% of the total number of grants.

Key points: On January 5, the CSI 300 Index rose 1.91% to close at 5368.5.

Since then, the market volatility has increased again, and the Hang Seng Index once fell by 1100 points to 29533 points, or 3.59%.

Current situation tracking: transportation hubs are under a little pressure, and the future will focus on brand potential. Influence; 2 Same-store revenue: On January 23, the company launched a new table lo-mei for the New Year's Day. With the introduction of local New Year's policies in various places, table lo-mei products are expected to benefit; looking forward to 21Q1, under the influence of a low base + the epidemic situation has been greatly reduced compared with 20Q1, we expect Revenue and profit growth is expected to return to normal.

The incentive plan helps the company to grow in value. The "overweight" rating takes into account that the demand for new tracks is expected to increase next year. It is expected that the company will achieve operating income of 42.57/65.99/9.337 billion yuan in 2020-2022 respectively. Previous value: 42.57 /6.119/8.614 billion yuan, net profit attributable to the parent -1.87/2.23/767 million yuan Previous value: -1.87/1.81/645 million yuan.

(cloud service stock leader) Baidu related recommendation:

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