Yesterday, the stock indexes of the two markets opened high and rose high, with a significant unilateral upward trend during the trading session. As of the close, the Shanghai Composite Index rose 1.16% to 3140.72 points, the Shenzhen Component Index rose 2% to 9779.21 points, the ChiNext Index rose 1.98% to 1895.21 points, and the Shanghai 50 Index rose 1.28%; The total transaction volume of the two markets was 1102.5 billion yuan, an increase of 71.9 billion yuan compared to the previous trading day. Northbound funds actively rushed to raise funds and bought a net of 9.316 billion yuan throughout the day. In terms of the industry, the chemical sector has exploded, while the home furnishings, home appliances, food and beverage, pharmaceutical, and brewing sectors have seen the highest growth. Insurance, electricity, non-ferrous metals, agriculture, coal, and automotive sectors have all strengthened, while dispersed dyes, polyurethane, fertilizers, innovative drug concepts, and other sectors are active; The ST sector fell against the market trend.
Guosheng Securities stated that the management has made the first move to digest existing properties, and the real estate market policies continue to intensify. The emergence of positive signals will further consolidate market confidence. Recently, the Hang Seng Index in the Hong Kong stock market has risen for 10 consecutive days, leading to a significant increase in the attractiveness of Chinese assets and providing positive feedback to the A-share market. In May, we entered a performance vacuum period, and the performance pressure of some subject stocks was released. In the short term, we can explore varieties with longer performance fulfillment cycles such as high-end equipment in new quality productivity and quantum technology. The consumer sector and other white horse stocks have entered the mid line allocation cycle, with a certain cost-effectiveness.
Analysis of Today's Investment Opportunities
Tesla humanoid robot application landing acceleration
On May 5th Beijing time, Tesla released a new demonstration video of the humanoid robot Optimus. The video shows that Optimus learns battery sorting skills through human remote operation and end-to-end neural networks, enabling accurate sorting and error correction. The software relies on FSD real-time driving, while the hardware relies on 2D cameras, hand tactile sensors, and force sensors to achieve recognition and motion control. Optimus is learning more skills through this model. At present, Optimus has been tested at a Tesla factory, and the human intervention rate is gradually decreasing, allowing for free walking of longer distances in office spaces.
CITIC Securities stated that Tesla's plans for internal deployment of humanoid robots in 2024 and external sales in 2025 are promising. According to Musk's public statement on the X platform on the same day, the new generation Optimus has increased its hand freedom to 22, and the replacement ratio for individual workers is at least 2:1, significantly increasing market space. On the domestic side, Beijing Humanoid Robot Innovation Center and Shenzhen Xingchen Intelligence have successively released new products of humanoid robots, and the single foot/hand control technology has reached the international level. Domestic component manufacturers are actively verifying. The increase in hand freedom has enhanced market space and added technical solutions, which is beneficial for domestic manufacturers to enter the supply chain. Continue to be optimistic about future opportunities in the sector, continue to recommend, and it is recommended to pay attention to investment themes and targets under relevant catalysis.
The industrialization of synthetic biology continues to accelerate
In the 2024 government work report, it was mentioned that "actively building new growth engines such as biological manufacturing, commercial aerospace, and low altitude economy", and the strategic significance of biological manufacturing as a new quality productivity continues to be recognized by the country. Tan Tianwei, academician of the CAE Member, said in an interview at the 2024 Zhongguancun Forum Annual Meeting that the bioeconomy is expected to become the fourth industrial revolution in the future after the agricultural revolution, the industrial revolution and the digital revolution. Academician Tan also stated that currently led by the National Development and Reform Commission, the Ministry of Industry and Information Technology and the Ministry of Science and Technology are jointly developing the National Action Plan for Biotechnology and Biomanufacturing, and it is expected to be released in the near future. "Biomanufacturing+" is a key component of it, including "Biomanufacturing+Medicine", "Biomanufacturing+Agriculture", "Biomanufacturing+Chemical and Materials", "Biomanufacturing+Environmental Protection", and so on.
CITIC Securities stated that synthetic biology technology is rapidly developing towards practicality and industrialization, with policy support from governments around the world, hot capital market financing, and the layout of traditional industry giants accelerating this trend. Under the core logic of "cost reduction+emission reduction+innovation" in biological manufacturing, the industry fundamentals have been improving for a long time, and related companies are gradually landing new products and production capacity. Revenue and profits are expected to maintain a stable growth trend. According to BCC Research, the global synthetic biology market is expected to reach $17.1 billion and $49.8 billion in 2023 and 2028, corresponding to a CAGR of 24% from 2023 to 2028.
The institution stated that the revenue and profit growth of the synthetic biology sector was impressive in the first quarter of 2023 and 2024, and the current industry valuation is significantly lower than the average valuation level in the past three years. Fundamentally, new products and production capacity of related companies are gradually being implemented, and future revenue and profits are expected to maintain a stable growth trend; In terms of valuation, with the catalysis of subsequent heavyweight policies, the valuation level of the sector is expected to continue to recover. The core competitiveness of current biological manufacturing companies lies in their product expansion and landing capabilities, and they are optimistic about targets with successful cases, leading positions, high-quality product reserves, and downstream demand prosperity.
Continuous breakthroughs in domestic video generation
Recently, the 2024 Zhongguancun Forum Annual Meeting came to an end. During this period, the theme day event - Artificial Intelligence Theme Day - was held for the first time; Vidu, China's first original and self-developed video model with long duration, high consistency, and high dynamism, has been released.
Huajin Securities pointed out that as China's first original fully self-developed video model with long duration, high consistency, and high dynamism, Vidu can directly generate 16 second high-quality videos based on text descriptions, and the generated videos are smooth and coherent without obvious frame insertion phenomenon. This model is jointly developed by Tsinghua University and Shengshu Technology, achieving full stack independent innovation and multi-dimensional comprehensive breakthroughs. It has the characteristics of simulating the real physical world, being imaginative, multi shot language, 16 second video duration, high spatiotemporal consistency, and understanding Chinese elements. Based on long-term accumulation and multiple original achievements, its technological breakthroughs are expected to bring quality improvement to content creation, lower barriers, and catalyze the continuous development of AI technology in segmented tracks.
Other news that affects the market
Central finance supports the development of urban renewal demonstration work
The General Office of the Ministry of Finance and the General Office of the Ministry of Housing and Urban Rural Development recently issued a notice that starting from 2024, the central finance will innovate methods and support some cities to carry out urban renewal demonstration work, with a focus on supporting urban infrastructure renewal and renovation, further improving urban functions, enhancing urban quality, improving living environment, promoting the establishment of good communities and urban areas, and promoting the transformation of urban infrastructure construction from "whether there is" to "whether it is good".
According to the notice, the Ministry of Finance, together with the Ministry of Housing and Urban Rural Development, will conduct competitive selection to select cities with good basic conditions, high enthusiasm, and outstanding characteristics to carry out typical demonstrations and solidly and orderly promote urban renewal actions. The central government provides quota subsidies to demonstration cities. Demonstration cities will develop urban renewal work plans, coordinate the use of central and local funds, improve regulatory systems, planning standards, investment and financing mechanisms, and related supporting policies. In combination with key tasks such as updating and renovating urban underground pipelines, constructing and renovating sewage pipelines as a whole, filling gaps in municipal infrastructure, and renovating old areas, we will continuously promote urban renewal work.
Shenzhen real estate market relaxes purchase restrictions
On May 6th, the Shenzhen Housing and Construction Bureau issued a notice on further optimizing real estate policies, which includes optimizing housing purchase restrictions in different regions, adjusting policies for enterprises and institutions to purchase commercial housing, and improving the convenience of second-hand housing transactions.
According to the Notice, non registered residence registered households and adult single persons (including divorced persons) are limited to purchase one house, and purchase houses in Yantian District, Bao'an District (excluding Xin'an Street and Xixiang Street), Longgang District, Longhua District, Pingshan District, Guangming District and Dapeng New Area. The payment period of individual income tax and social insurance is adjusted from three years to one year; The payment period for personal income tax and social insurance for purchasing housing in other areas is still required to be 3 years.
The Notice clearly states that registered residence residents with two or more minor children in the city can purchase one more house in Yantian District, Bao'an District (excluding Xin'an Street and Xixiang Street), Longgang District, Longhua District, Pingshan District, Guangming District and Dapeng New District on the basis of implementing the existing housing purchase restriction policy.
Eight departments issue documents to strengthen the construction of critical care medical service capabilities
On May 6th, the National Health Commission and eight other departments issued the Opinion on Strengthening the Construction of Critical Care Medical Service Capacity. It is proposed to effectively expand critical care medical resources, optimize the structure and layout of medical resources, focus on filling the gaps in critical care medical resources in the western region and counties, and achieve balanced development of regional critical care medical resources. By the end of 2025, the number of critical care medical beds in China will reach 15 per 100000 people, and the number of convertible critical care medical beds will reach 10 per 100000 people. The comprehensive ICU bed to doctor ratio in relevant medical institutions will reach 1:0.8, and the bed to nurse ratio will reach 1:3.
Significant breakthroughs in quantum simulation experiments
On the 6th, the Chinese Academy of Sciences held a press conference in Beijing. The reporter learned from the press conference that, using the "bottom-up" quantum simulation method, the team of academician Pan Jianwei of the University of Science and Technology of China realized the fractional quantum anomalous Hall state of photons for the first time in the world. This is an important advancement in the fields of quantum physics and quantum information science. The relevant research results are published online in the journal Science.
Proofread by: Gao Yuan