分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 晨会聚焦 上证指数 深证成指 -26% -23% -19% -15% -11% -8% -4% 0% 2023.08 2023.12 2024.04 2024.08 资料来源：聚源，中原证券研究所 国内市场表现 | --- | --- | --- | |--------------------------------|------------|-----------| | 指数名称 | 昨日收盘价 | 涨跌幅(%) | | 上证指数 | 2,862.19 | -0.27 | | 深证成指 | 8,393.70 | -0.62 | | 创业板指 | 2,022.77 | -0.47 | | 沪深 300 | 3,331.63 | -0.34 | | 上证 50 | 2,443.97 | -0.52 | | 科创 50 | 891.46 | 0.14 | | 创业板 50 | 1,924.26 | -0.67 | | 中证 100 | 3,174.60 | -0.24 | | 中证 500 | ...

Investment Rating - The industry is rated as "outperforming the market," indicating an expected increase of over 10% relative to the CSI 300 index within the next six months [17]. Core Insights - The A-share market experienced slight fluctuations, with the Shanghai Composite Index facing resistance around 2887 points, while sectors such as real estate, automotive, consumer electronics, and electronic components performed well [4][5]. - The average price-to-earnings ratios for the Shanghai Composite Index and the ChiNext Index are 12.26 times and 26.60 times, respectively, both below the median levels of the past three years, suggesting that the market is still undervalued and suitable for medium to long-term investments [5][16]. - The recent "New National Nine Articles" policy is expected to enhance market maturity and boost long-term confidence, alongside supportive macroeconomic policies aimed at stabilizing growth [5][16]. Summary by Sections A-share Market Overview - On August 9, the A-share market showed a slight upward trend before encountering resistance, with the Shanghai Composite Index closing at 2862.19 points, down 0.27% [8]. - The trading volume for the day was 566.1 billion yuan, which is below the median trading volume of the past three years [5][16]. Future Market Outlook and Investment Recommendations - The market is anticipated to maintain a fluctuating pattern, with a focus on sectors such as automotive, real estate, electronic components, and consumer electronics for short-term investment opportunities [5][16]. - The report emphasizes the need to closely monitor policy changes, funding conditions, and external factors that may impact market dynamics [5][16].

分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 汽车地产行业领涨 A 股小幅震荡 ——市场分析 相关报告 《市场分析：证券消费行业领涨 A 股小幅震 荡》 2024-08-08 《市场分析：汽车通信行业领涨 A 股小幅上 扬》 2024-08-07 《市场分析：新能源军工行业领涨 A 股震荡 整理》 2024-08-06 联系人： 马嵚琦 电话： 021-50586973 地址： 上海浦东新区世纪大道1788 号16 楼 邮编： 200122 证券研究报告-市场分析 发布日期：2024 年 08 月 09 日 投资要点： ◼ A 股市场综述 周五（08 月 09 日）A 股市场冲高遇阻、小幅震荡整理，早盘股指高开后震 荡上行，沪指盘中在 2887 点附近遭遇阻力，午后股指震荡回落，盘中房地 产、汽车、消费电子以及电子元件等行业表现较好；医药、医疗服务、证 券以及光伏设备等行业表现较弱，沪指全天基本呈现震荡整理的运行特征。 创业板市场周五震荡回落，成指全天表现与主板市场基本同步。 ◼ 后市研判及投资建议 周五 A 股市场冲高遇阻、小幅震荡整 ...

农林牧渔 分析师：张蔓梓 登记编码：S0730522110001 zhangmz@ccnew.com 13681931564 猪价加速上行，宠物食品出口数据同 环比双增 证券研究报告-行业月报 强于大市(维持) 盈利预测和投资评级 公司简称 23EPS 24EPS 24PE 评级 牧原股份 -0.79 2.92 16.33 增持 海大集团 1.66 2.72 15.49 增持 乖宝宠物 1.15 1.38 37.32 增持 中宠股份 0.80 0.98 24.31 增持 佩蒂股份 -0.04 0.50 25.83 增持 秋乐种业 0.48 0.52 13.74 增持 农林牧渔相对沪深 300 指数表现 农林牧渔 沪深300 -20% -17% -14% -11% -8% -5% -2% 1% 2023.08 2023.12 2024.04 2024.08 资料来源：Wind，中原证券研究所 相关报告 《农林牧渔行业月报：生猪养殖盈利水平回 升，618 期间宠物食品逆势增长》 2024-07- 12 《农林牧渔行业年度策略：把握周期，拥抱 成长》 2024-06-27 《农林牧渔行业月报：猪价加速上行，宠物 板 ...

轻工制造 分析师：龙羽洁 登记编码：S0730523120001 longyj@ccnew.com 0371-65585753 加力支持以旧换新，家居消费有望提振 ——轻工制造行业月报 发布日期：2024 年 08 月 09 日 投资要点： 证券研究报告-行业月报 同步大市(维持) 轻工制造相对沪深 300 指数表现 轻工制造 沪深300 -32% -27% -22% -18% -13% -8% -3% 2% 2023.08 2023.12 2024.04 2024.08 资料来源：中原证券，聚源 相关报告 《轻工制造行业月报：国内浆价开始回落，家 具出口景气延续》 2024-07-09 《轻工制造行业半年度策略：优选低估绩优龙 头，关注出口景气向上》 2024-06-25 《轻工制造行业月报：地产政策持续加码，关 注家居估值修复》 2024-06-07 联系人：马嶔琦 电话： 021-50586973 地址： 上海浦东新区世纪大道1788 号16 楼 邮编： 200122 ⚫ 市场回顾：7 月轻工制造板块下跌 3.38%，跑输沪深 300 指数 2.81pct，涨幅在中信一级行业中排名第 27 名。细分子板 ...

分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 晨会聚焦 证券研究报告-晨会聚焦 发布日期：2024 年 08 月 09 日 -28% -24% -20% -16% -12% -8% -4% 0% 2023.08 2023.12 2024.04 2024.08 上证指数 深证成指 资料来源：Wind，中原证券研究所 | --- | --- | --- | |-------------------------|------------------|------------| | 国内市场表现 \n指数名称 | 昨日收盘价 | 涨跌幅 (%) | | 上证指数 | 2,869.90 | 0.00 | | 深证成指 | 8,446.21 | -0.04 | | 创业板指 | 2,022.77 | -0.47 | | 沪深 300 | 3,342.94 | 0.04 | | 上证 50 | 2,443.97 | -0.52 | | 科创 50 | 891.46 | 0.14 | | 创业板 50 | 1,924.26 | -0.67 | | 中证 ...

Investment Rating - The industry is rated as "stronger than the market," indicating an expected increase of over 10% relative to the CSI 300 index within the next six months [16]. Core Viewpoints - The A-share market experienced a slight fluctuation with a rebound after an initial decline, supported around the 2850-point level. Key sectors such as food and beverage, pharmaceuticals, securities, and real estate performed well, while automotive, military, computer equipment, and communication sectors lagged [4][7]. - The average price-to-earnings ratios for the Shanghai Composite Index and the ChiNext Index are 12.26 times and 26.78 times, respectively, both below the median levels of the past three years, suggesting that the market is still undervalued and suitable for medium to long-term investments [4][15]. - The total trading volume on the two exchanges was 623.2 billion yuan, which is below the median trading volume of the past three years, indicating a cautious market sentiment [4][15]. - The release of new policies is expected to enhance market maturity and boost long-term confidence, with macroeconomic stabilization anticipated as growth policies are implemented [4][15]. Summary by Sections A-share Market Overview - On August 8, the A-share market showed a pattern of initial decline followed by a slight recovery, with the Shanghai Composite Index closing at 2869.90 points, unchanged from the previous day. The Shenzhen Component Index closed at 8446.21 points, down 0.04% [7][8]. - More than half of the stocks in the market declined, with sectors like agriculture, chemical pharmaceuticals, food and beverage, and real estate services seeing gains, while education, aerospace, automotive, and computer equipment faced losses [7][10]. Future Market Outlook and Investment Recommendations - The market is expected to maintain a fluctuating trend, with a focus on sectors such as securities, pharmaceuticals, food and beverage, and consumer electronics for short-term investment opportunities [4][15]. - The report emphasizes the need to closely monitor changes in policy, funding, and external factors that could impact market dynamics [4][15].

分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 证券消费行业领涨 A 股小幅震荡 ——市场分析 证券研究报告-市场分析 发布日期：2024 年 08 月 08 日 相关报告 《市场分析：汽车通信行业领涨 A 股小幅上 扬》 2024-08-07 《市场分析：新能源军工行业领涨 A 股震荡 整理》 2024-08-06 《市场分析：外盘全线下挫 A 股震荡整固》 2024-08-05 联系人： 马嵚琦 电话： 021-50586973 地址： 上海浦东新区世纪大道1788 号16 楼 邮编： 200122 投资要点： ◼ A 股市场综述 周四（08 月 08 日）A 股市场先抑后扬、小幅震荡整理，早盘股指低开后震 荡回落，沪指盘中在 2850 点附近获得支撑，午后股指震荡回升，盘中食品 饮料、医药、证券以及房地产等行业表现较好；汽车、军工、计算机设备 以及通信设备等行业表现较弱，沪指全天基本呈现震荡整理的运行特征。 创业板市场周四震荡回落，成指全天表现弱于主板市场。 ◼ 后市研判及投资建议 周四 A 股市场先抑后扬、小幅震荡整理，早盘股指低 ...

有色金属 分析师：李泽森 登记编码：S0730523080001 lizs1@ccnew.com 021-50586702 美国衰退预期增强，金属价格普遍下跌 ——有色金属行业月报 证券研究报告-行业月报 同步大市(维持) 有色金属相对沪深 300 指数表现 有色金属 沪深300 2023.08 2023.12 2024.04 2024.08 资料来源：中原证券 相关报告 《有色金属行业深度分析：铜基材料产业链分 析之河南概况》 2024-07-18 《有色金属行业月报：美联储表态偏鹰，金属 价格普遍下跌》 2024-07-02 《有色金属行业半年度策略：稳中求进，静待 云开》 2024-07-01 联系人： 马嵚琦 电话： 021-50586973 地址： 上海浦东新区世纪大道1788 号16 楼 邮编： 200122 ⚫ 7 月，沪深 300 下跌 0.57%，有色板块下跌 3.14%，在 30 个行业 中排名第 25，表现较弱。有色子行业中，黄金（9.00%）、镍钴锡锑 （3.75%）、其他稀有金属（1.56%）、锂（-0.69%）、铅锌（-1.84%）、 稀土及磁性材料（-2.15%）、钨（-3.03 ...

资料来源：Wind,中原证券 分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 晨会聚焦 -29% -24% -20% -16% -12% -8% -4% 0% 2023.08 2023.12 2024.04 2024.08 上证指数 深证成指 资料来源：Wind,中原证券 | --- | --- | --- | |-------------------------|------------|------------| | 国内市场表现 \n指数名称 | 昨日收盘价 | 涨跌幅 (%) | | 上证指数 | 2,869.83 | 0.09 | | 深证成指 | 8,449.58 | -0.17 | | 创业板指 | 2,022.77 | -0.47 | | 沪深 300 | 3,341.49 | -0.04 | | 上证 50 | 2,443.97 | -0.52 | | 科创 50 | 891.46 | 0.14 | | 创业板 50 | 1,924.26 | -0.67 | | 中证 100 | 3,180.19 | -0.12 | | ...