Morgan Stanley released a research report, indicating benefits from Supply-Side Structural Reform 2.0. $MAANSHAN IRON (00323.HK)$First-quarter net profit after tax rose by 300% to 1.5 billion RMB year-on-year, surpassing expectations and returning to the 2018 level; the bank expects its good gross profit to be maintained. The bank upgraded its investment rating from neutral to outperform the market, raised the valuation basis, increased the forecasted market-to-book ratio from 0.5 times to 1.2 times for this year, and adjusted the target price from 2.5 Hong Kong dollars to 5.6 Hong Kong dollars accordingly. The bank believes that its diversified product portfolio and efficiency reform achievements are beginning to show. Considering policies such as production restrictions and new capacity replacement, the bank raised its forecast for mainland steel prices by 8% to 16% for the fiscal years 2021 to 2025, corresponding to an increase in Ma Steel's earnings per share forecast by 80% to 98% for 2021 to 2022. The bank stated that Supply-Side Structural Reform 2.0 in the mainland brings a valuation reevaluation to the steel industry.
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The US-Hong Kong Telecom App reported on the 13th that the 2021 iQiyi World Conference was held in Shanghai. iQiyi CEO Gong Yu said that when iQiyi was first founded, iQiyi was underestimated and positioned as a platform for film and television broadcasts. Later, it was discovered that only one apple tree could not grow, making it difficult to use a business model to support our industry. Currently, iQiyi is referring to a win-win ecosystem, that is, an “apple garden” and the “one fish eats more” business model. “Apple Garden” includes the forms of novels, comics, games, offline entertainment, shows, derivatives, movies and television broadcasts. “One fish eats more” refers to the transformation from traditional copyright leasing to diversified development such as investment, production, promotion, and derivatives. $IQ.US (IQ.US) $
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JP MORGAN RAISES CF INDUSTRIES HOLDINGS INC $CF Industries Holdings (CF.US)$ TARGET PRICE TO $60 FROM $52.
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