The overseas market "dragging back", every 100 points of the brand's 100 points have not failed, the valuation advantage is still obvious

After touching the thousands of mark a week ago, every 100 indexes of the brand this week launched an impact on the thousand points. Although the performance of A -share component stocks is eye -catching, the market performance of the US stock market in helpless Zhou, most of the Chinese stocks have plummeted, affecting the performance of the stock index. In the end, every 100 indexes of the brand failed to achieve a thousand points in the context of A shares rising. As of June 18, the U.S. stock closed, the index fell 1.11%weekly, and closed at 979.37 points.

In terms of individual stocks, in addition to the eye -catching performance of automobiles and large financial performance, consumption represents individual stocks such as Maotai, Yili, and Golden Aragona, and the stock price has risen. Many institutions believe that during the Z generation, the construction of new consumer brands will have a huge impact on the industry industry.

Ingredient stocks are trying to attack thousands of points

This week, every "first show" after each brand 100 index ushered in the index stocks, the overall operation was in a stable trend.

Specifically, the global market on the first week is "a piece of green, a little red in A shares." In the context of the U.S. -expect to start the interest rate hike cycle, the European and American and Southeast Asian markets are involved. Only the A -share market has performed strongly, and all the three stock indexes have achieved rising.

Due to the influence of the overseas market's emotions, the NetEase -S (HK09999, HK $ 151.1, a market value of HK $ 496.2 billion) fell more than 10%in a single week; Anta Sports (HK02020, HK $ 84.25, market value of 228.6 billion), Alibaba- SW (HK09988, the stock price of HK $ 104.5, a market value of HK $ 2.27 trillion), Baidu Group-SW (HK09888, HK $ 138.9, a market value of HK $ 384 billion), Country Garden (HK02007, HK $ 4.31, a market value of HK $ 99770 billion) and Tencent Holdings (HK00700700) The stock price was HK $ 369.4 and a market value of HK $ 3.55 trillion), and the weekly decline exceeded 5%. Because Ali and Tencent accounted for relatively high weights, each of which affected the performance of the 100 index of the brand to a certain extent, and the ultimate index impacting thousands of points, which fell 1.11%and closed at 979.37 points.

From the perspective of individual stocks, 48 ​​stocks of each brand 100 indexes this week have increased, two are flat, and basically half of the stocks have increased. Changan Automobile showed a unique increase, with a single week increase of 21.28%; China Life and China Resources Pharmaceutical rose more than 10%; while Shuanghui Development, Great Wall Motor, GAC Group, Sany Heavy Industry, and ZTE both increased by more than 5%, which performed well. Essence

After a week of fluctuation adjustment, the average price -earnings ratio of the 100 index of the brand is 10.3 times, and the net net ratio is 1.19, which is still at a low historical valuation, and the valuation advantage is obvious.

A private equity manager in Shenzhen told reporters a few days ago, "Each overall performance of the 100 indexes of the brand this week is relatively general, and it is mainly affected by the overseas market. Force, and big consumption also rebounded without focusing on focus. As we all know, consumers pay more attention to the concept of the brand in the consumer field. Therefore, investors can pay more attention to the value of brand investment in the consumer field. "

Consumer brand construction is changing

Indeed, since the 1980s, consumers' brand concepts for consumer products have been continuously strengthened, and enterprises have also used the main propaganda media to shape their own brand value.

For example, at the end of the last century, consumer goods companies spent high prices to advertise at CCTV, and in -depth distribution to large -scale paving on the below merchants. Enterprises only need to increase production capacity and slightly unique packaging. Marketing has brainwashing selling points. Products generally have a probability of becoming a national explosion.

Since 2018, with the development of the Internet, big consumption has ushered in e -commerce dividends, and has also made many e -commerce platforms. For example, Alibaba launched Taobao Mall in 2008, and was renamed Tmall Mall in 2012. It has successfully realized the traffic such as bidding ranking and display advertising. From 2013 to 2017, offline head brands have begun to lay out online, and online and offline head brands have gradually overlapped. However, at present, the traffic dividend of the Ali e -commerce system has disappeared, which shows that the cost of customer acquisition has risen; some new brands have grasped the updated traffic and channel dividends to rise and exacerbate market competition.

Nowadays, as the number of Chinese mobile Internet users and the per capita single -day use is approaching the ceiling, the competition of online platforms is the stock game occupied by consumers' time. In recent years, social platforms such as Douyin, Xiaohongshu, and B Station have gradually occupied a lot of time for young people, and traffic dividends have appeared on these social platforms. For the new consumer brand, the brand founded in 2018 has successfully excavated the window period for the price depression of the social platform.

Last week, New Oriental sold the goods in Douyin, and achieved a "miracle" of social platforms and the capital market. Since June 9, with the popularity of the "Eastern Selection" in the live broadcast room, in a week, New Oriental Online (HK01797, a stock price of HK $ 25, and a market value of HK $ 25.018 billion) stock prices have risen to HK $ 33 at the beginning of the month at the beginning of the month at the beginning of the month. /Share, nearly 700%in two weeks. On June 17th, the stock price of New Oriental Online Hong Kong stocks was 29.3 Hong Kong dollars/shares, which has risen by more than 7 times from the price of Hong Kong dollars/share in early June.

New consumer brand investment value is worthy of attention

Guotai Junan analysis pointed out that at present, generations Z are becoming increasing people in the Chinese consumer market and have the characteristics of circles. The specific needs of the circle of people will open up many new market segments potential space, bringing opportunities for the rise of new brands. From the perspective of industrial trends, high -quality supply chains tend to concentrate, traffic and channels tend to be decentralized. The "one concentrated and two decentralized" industrial changes accelerated the development of the new consumer market, and also reduced the entry threshold that caused market competition to be more intense. Most of the new consumer categories have the attributes of "low -cost and high -frequency". Taking food and beverages as an example, the price positioning of new brands in first- and second -tier cities is generally around 20-30 yuan. The unit price of customer is easy to be accepted by young people. Most of the categories have the characteristics of soft addiction and leisure, which shows a high frequency of consumption. Since the second half of 2021, the overheating phenomenon of the new consumption -level market has cool down. The short -term downturn of the capital cycle is a good time for outstanding brands to hone internal skills and create a competitive advantage. In the secondary market, the number of new consumer brands IPOs and mergers and acquisitions is expected to increase and get more attention in the future.

From the perspective of each brand 100 index stocks, there are both new consumer platform concept companies and new consumer brands with excellent companies. For example, Shanxi Fenjiu (SH600809, the stock price of 287.88 yuan, and a market value of 351.2 billion yuan). The company is located in Xinghua Village, which has thousands of years of winemaking, and has a stable share in domestic fragrant liquor.

Based on the "1357+10" market strategy, Shanxi Fenjiu has a customized, flat and refined play to help foreign markets increase. From the perspective of expenses, starting in 2017, its regional advertising costs have grown rapidly and exceeded the national advertising costs. Marketing methods are more accurate and improve the efficiency of expenses. From the perspective of regional organizations, from 2016 to 2021, the provincial foreign vendors increased from 780 to 2,796, and the coverage continued to expand. At present, the Fenjiu Fuxing is on the way. The product side is full of blue and white Fen wine. Bolifan has won the reputation of consumers with quality. Channel feedback is strong in the company's product demand under the quota system.

Similarly, Illi (SH600887, stock price of 38.29 yuan, and market value of 245.1 billion yuan) among the ingredient stocks are at the forefront of the brand value list. The brand value not only comes from the satisfaction of customer demand, but also reflects the brand's contribution to society. Following the organic pure milk and Jin Dian Juanshan organic pure milk, the company released the third "zero carbon product". Zero -carbon products have successively launched a reflection of the company's active implementation of low carbon, showing the company's responsibility, and helping further consolidate the company's brand image.

"The brand value in consumer stocks is the easiest to play dark horses and super big white horses. Overseas Coca -Cola is the representative of Big White Horse. In the future, Chinese consumer goods brands will definitely get out of companies like Coca -Cola. Therefore This investment idea cannot be ignored. It needs investors to ponder and dig deeper into investment value. "The above -mentioned private equity managers added.

Daily Economic News

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