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Brokerage morning meeting highlights: Countermeasures against tariffs boost Shenzhen Agricultural Products Group prices, the planting chain directly benefits.
At today's Brokerage morning meeting, CITIC SEC believes that countermeasures against tariffs boost the prices of Shenzhen Agricultural Products Group, which directly benefits the planting chain; HAITONG SEC proposed a bullish view on the relative yields of the Banks Sector in April; Galaxy Securities stated that it focuses on Gold and countermeasures against rare earths.
Zhongtai: "Under the background of 'reciprocal tariffs', the dividend attributes of bank stocks are highlighted."
Under the background of "reciprocal tariffs", the dividend attributes of bank stocks are prominent, suggesting active attention to the investment value of bank stocks, focusing on major banks, China Merchants Bank, and high-quality urban and rural commercial banks.
Insight into the 2024 Banking Earnings Conference | After being nominated as the president of China Zheshang Bank, Chen Haiqiang made his debut at the Earnings Conference, stating that the Asset structure needs to shift towards "low-risk, stable returns."
① Chen Haiqiang stated that against the current backdrop of low interest rates, low interest spreads, and high risks, we are driving the Operation to shift from asset-driven to liability-driven. ② Assistant President and Chief Risk Officer Pan Huafeng expressed a continued firm determination to clear risks, accelerating the disposal of existing risks while strictly controlling the formation of new risks.
Research Reports on uncovering opportunities丨Huachuang Securities: Maintain the "Recommend" rating for China Zheshang Bank, Target Price at 3.73 yuan.
According to the Research Reports from Huachuang Securities, China Zheshang Bank (601916.SH) is expected to have an operating profit of 17.65 billion yuan in 2024, a year-on-year increase of 0.7%; the Net income attributable to shareholders of the listed company is 15.19 billion yuan, a year-on-year increase of 0.9%. China Zheshang Bank deeply cultivates in Zhejiang, strengthens its ability to navigate economic cycles, and proactively proposes to "invest in assets that are less sensitive to economic cycles," addressing issues such as high industry concentration and significant cyclical fluctuations. The exposure to non-standard risks continues to decrease, and the asset quality is steadily improving. The current valuation is only 0.44x 25PB, while the company's average PB over the past five years is 0.58x, indicating that it is undervalued, with a target for 2025.
Express News | China Zheshang Bank Co Ltd - Chen Haiqiang Nominated for Position of President of China Zheshang Bank Co
Brokerage morning meeting highlights: The industry allocation recommendations for April should focus on two main lines.
At today's Brokerage morning meeting, Galaxy Securities stated that the characteristics of a short-term structural economic recovery remain evident, with industries related to new productive forces performing better; HTSC believes that increased investment in global AI computing power is expected to drive the performance of businesses in sectors such as Optical Communications to remain positive; China Securities Co., Ltd. suggested that the industry allocation recommendations for April should focus on two main lines.
