5 | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------|--------|------------|------------|------------|------------|------------| | 均降至 1.8524%；本周四交易所回购利率 GC001 加权平均降至 1.9750%，GC007 加权平均降至 2.3590%。 \n表 2: 本周货币市场利率 \n市场 | 代码 | 周一 \n(%) | 周二 \n(%) | 周三 \n(%) | 周四 \n(%) | 周五 \n(%) | | 银行间回购 | R001 | 1.8307 | 1.8717 | 1.8251 | 1.6605 | 1.8519 | | | R007 | 2.0922 | 2.0117 | 1.9684 | 1.7973 | 1. ...

300 30% 20% 10% 0% -10% -20% -30% 23-04 23-06 23-08 23-11 24-01 24-03 ...

年度策略报告 2024年04月04日 被“AI”包围的“新消费” 2024年社服行业年度策略 行业评级：增持 ...

◆ ◆ 300 30% 20% 10% ◆ 0% -10% -20% -30% 23-04 23-06 23-08 23-11 24-01 24-04 ◆ ...

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战。在此背景下，央行此次例会通报对于货币政策的描述为"精准有效实施稳健的货币 | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------|-------------------------------------|-----------| | | | | | 美联储降息预期再受打压，国内经济复苏呈现结构性特点 | | | | | 2024 年 4 月 1 日-4 月 7 日周报 | | | | 主要数据 | | | | 上证指数 | 3069.2959 | | 消费复苏持续，商品房销售依旧低迷 | 沪深300 | 3567.8031 | | 3 月高频数据显示我国消费复苏趋势持续。3月,我们统计的全国范围内19个城市 | 深证成指 | 9544.7657 | | 地铁客流量加总值同比录得 7.8%,虽因基数原因较前 2 月值下行(去年前 2 月疫情政 | 主要指数走势 | | | 策调整,地 ...

Investment Rating - The investment rating for the company is "Buy" with an expected return exceeding 10% relative to the CSI 300 index over the next six months [8]. Core Insights - The company, Beidahuang (600598), reported a revenue of 5.0444 billion yuan in 2023, representing an 18.37% year-on-year growth, and a net profit attributable to shareholders of 1.064 billion yuan, up 9.07% year-on-year [1][2]. - The land leasing business generated 3.434 billion yuan in revenue, a 9.86% increase year-on-year, driven by competitive bidding and tiered pricing strategies [1]. - The company maintains a strong dividend policy, with a proposed cash dividend of 782 million yuan for 2023, reflecting a cash dividend ratio of 73.53% [2]. Summary by Sections Financial Performance - In 2023, the overall gross margin was 48.86%, a decrease of 4.19 percentage points due to increased costs from social security and agricultural maintenance [1]. - The company’s sales expense ratio was 0.73%, and R&D expense ratio was 1.78%, both showing stability [1]. - The financial expenses decreased to -168 million yuan, attributed to increased interest income [1]. Strategic and Value Attributes - Beidahuang is positioned as a leader in China's agricultural sector, contributing significantly to food security and stability in grain production [1]. - The company has a vast planting area of 10.429 million mu, producing high-quality crops such as rice, corn, and soybeans, totaling 12 billion jin [1]. - The long-term growth of domestic land rental prices has been robust, with a 194.8% increase over the past decade, indicating a strong foundation for the company's land leasing business [1][2]. Future Projections - Revenue projections for 2024 to 2026 are expected to grow to 5.4231 billion yuan, 5.7223 billion yuan, and 6.0422 billion yuan respectively, with corresponding net profits of 1.213 billion yuan, 1.204 billion yuan, and 1.278 billion yuan [6][7]. - The company is expected to maintain a high return on equity (ROE) of around 14.18% to 15.23% over the next few years [7].

联系电话：010-59219558 - 传真：010-59562637 | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|--------------------| | | | | | 云路股份（688190） | 投资评级 | 买入 | | 2023 年报点评:盈利性提升,非晶龙头地位稳固 | | 维持评级 | | | 2024年04月02 日 | | | 业绩概要：2023年公司实现营业收入 17.7 亿元（+22.4%） 实现归母净利润 3.3 亿元 | 收盘价(元): | 82.06 | | (+46.6%)，对应基本 ...

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| --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------|--------------| | | | | | 铂力特（688333） | 投资评级 | 买入 | | 2023 年报点评：新质生产力代表，业绩高速增长 | 2024年04月03日 | 维持评级 | | 业绩概要:2023年公司实现营业收入12.3亿元(+34.2%),实现归母净利润 1.42 亿元 | 收盘价(元): | 77.66 | | (+78.1%), 对应 EPS 为 0.89元, 扣非归母净利润 1.06亿元 (+255%)。其中 2023Q4 | | | | 公司实现营业收入4.91亿元 (同比+23.4%,环比+62.0%),实现归母净利润 1.03 亿 ...