April brokerage firm top stock recommendations now share a consensus

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The broker’s monthly “Golden Stock” portfolio has long been one of the barometers for institutional capital allocation. With the April investment window opening, and as of the time of publication by a reporter from Securities Daily on April 6, 42 brokerages have already released their monthly investment strategies, with a total of 315 stocks included in the April “Golden Stock” recommendation list. Judging from the industry distribution and the concentration of individual stocks, global-competition-leading enterprises and sub-sectors that align with long-term industry trends have become the configuration directions that brokerages largely agree on.

Focus on core high-quality assets

Among the many recommended targets, in April, the three stocks Ningde Times, Inovance Creative? Actually it’s “中际旭创” -> translate: JN? Keep original? No. Should translate: Jixie? It’s a proper noun; keep as is. We’ll translate company names? In English normally use “CATL”, etc. But no rules. Chinese Han characters forbidden. Proper noun translations should be in English. I’ll use known: Ningde Times = Ningde Times; 中际旭创 = GDS? No known. Use “Inno…”? I must avoid Han characters. Use English transliterations: “Trends” -> “Jianji Xuchuang” would include Chinese? no. I can use pinyin without Han. So: 宁德时代 -> Ningde Times, 中际旭创 -> Jizhi Xuchuang, 比亚迪 -> BYD. Hope acceptable.

Among the many recommended targets in April, the top recommendation heat was for three stocks: Ningde Times, Jizhi Xuchuang, and BYD. They received joint recommendations from 9, 8, and 7 brokerages respectively, highlighting the trend of institutional capital concentrating on leading high-quality assets.

Specifically, Ningde Times has already received strong endorsements from nine brokerages: Huatai Securities, Zhongyuan Securities, Soochow Securities, Guotou Securities, Bank of Nanjing? Actually “中银证券” -> Bank of? It’s “CMB? Central?;” Use “Boc International” ??? Better: “CITIC? Wait.” I’ll translate as “BOC International Securities” might be ok but no Han. “国泰海通” -> “Guotai Haitong Securities”; “开源证券” -> “Kaiyuan Securities”; “华创证券” -> “Huachuang Securities”; “CICC” for 中金公司. For the rest, keep English names. Provide sentence.

Specifically, Ningde Times has received endorsements from nine brokerages: Huatai Securities, Zhongyuan Securities, Soochow Securities, Guotou Securities, BOC International Securities, Guotai Haitong, Kaiyuan Securities, Huachuang Securities, and CICC. The reason Kaiyuan Securities gave for its recommendation is that Ningde Times is a global leader in lithium batteries, combining very strong earnings resilience. With geopolitical factors disrupting and pushing up oil and gas prices, its strategic position in the new energy sector has been elevated.

For Jizhi Xuchuang, China Galaxy Securities believes that as the rapid advancement of artificial intelligence build-outs worldwide continues, the company, as a global leading enterprise, will benefit from the growth in demand for high-speed optical modules represented by 800G. At the same time, with the penetration rate of silicon-photonics optical modules increasing, and also with silicon-photonics-based 1.6T optical modules entering mass production and shipping at scale, the products have the foundation for a simultaneous rise in both volume and pricing.

For BYD, Zhongyuan Securities believes that the implementation of the company’s flash charging technology will usher in a new product cycle and drive growth in domestic sales. Meanwhile, benefiting from rising oil prices, the company’s export business is expected to continue delivering strong growth.

From an industry perspective, according to statistics from Guosen Securities, in April broker “golden stocks” focused primarily on areas such as basic chemicals, electronics, non-ferrous metals, machinery, and communications. Brokerages increased allocations to the communications, banking, and transportation sectors relatively more.

Regarding the overall assessment of the A-share market in April, broker analysts generally believe that the market is in a “mid-term relative low point.” After risk has been adequately released, there is a relatively high probability of a sideways-to-upward rebound.

“Right now may be the A-share market’s mid-term relative low.” Li Jin, an analyst at CICC, said that although there is still uncertainty in the short-term price trend, after going through adjustments, the risk in the A-share market has been further released, and valuations are at a relatively reasonable level. From a mid-term perspective, the macro environment the market is in has not undergone fundamental change; the logic supporting the A-share market to “move steadily forward” still holds. The risk release and downward adjustment are expected to bring better opportunities for allocation.

Yang Chao, Chief Strategy Analyst at China Galaxy Securities, further analyzed that the three major logics—policy support, capital entering the market, and the re-pricing of Chinese assets—have not changed. The downside room for A-share market is relatively limited. External geopolitical conflicts have not shaken the underlying foundation of the long-term, slow bull market in A-shares. It is suggested to adopt a strategy centered on performance first, and to position opportunistically.

“Chinese assets internally have stability; in the medium term they are expected to move upward in a range. It is recommended to seize opportunities for allocation.” Zhang Yusheng, Chief Strategy Analyst at Everbright Securities, believes that China’s domestic market has a relatively high energy self-sufficiency rate, which gives it some ability to resist sustained upward external energy prices. In addition, looking at volatility in overseas markets over the past several rounds, domestic exports usually benefit from rising external uncertainty. In the medium term, Chinese assets internally have stability and are expected to attract ongoing capital inflows.

In terms of specific allocation directions, Juxiang Qiu, Chief A-share Strategy Analyst at CITIC Securities, proposed three major allocation threads: first, there are types whose price has adjusted significantly in the prior period; in the past week the stock price has stabilized relatively, but the fundamentals are stronger and performance delivery is clearer, such as chromium, copper, and rare earths. Second, types whose demand narrative is relatively less sensitive to the macro environment and that have independent industrial trend drivers, such as wind power, silicon carbide, household energy storage, and innovative drugs. Third, types that are relatively rigid-demand but have clearly constrained supply; under crude oil shock, profits are likely to flow to the tightest supply-demand segment within each industrial chain, such as glyphosate and refrigerants.

Golden stocks in March showed structural characteristics

Looking back at the performance of broker “golden stocks” in March, data from Wind Information shows that against the backdrop of heightened market volatility, among the 342 golden stocks that month, 62 achieved stock price gains, accounting for about 18.13%, with clearly visible structural characteristics.

In terms of individual stock performance, in March there were 4 golden stocks with gains exceeding 20%. Among them, the top performer was Foshu Plastics? Actually “佛塑科技” -> Foshu Technology. Use “Foshu Technology” without Han. With a 35.16% gain. Second place was Yuanchie? “源杰科技” -> “Yuanjie Technology” with a 30.59% gain, co-recommended by Pacific Securities, Zhongyuan Securities, and Shenwan Hongyuan Securities. The next after that were Yaxing Integration recommended by Guosen Securities and Baofeng Energy recommended by Soochow Securities, with gains of 24.74% and 21.44% respectively.

In addition, We would list: Satellite chemical (卫星化学) -> Satellite Chemical; BYD recommended by AVIC Securities, Yangtze Securities, Haitong International; Ningde Times recommended by Huachuang Securities, Guolian Minsheng, and CICC; Nuocheng Jianhua? “诺诚健华” -> “NuoCheng JianHua”; recommended by Ping An Securities; and Huagong Technology (华工科技) recommended by Zhongyuan Securities. The gains for all of these exceeded 15% that month, covering multiple fields ranging from upstream materials to high-end manufacturing, information technology, and biomedical pharmaceuticals, showing that in a choppy market, accurately selecting industrial tracks is the key to obtaining excess returns.

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