Key recommendations

In December, supply and demand in my country’s foreign exchange market were basically balanced, and the scale of foreign exchange reserves increased slightly

Tesla’s domestic Model 3 was officially delivered in batches and the Model Y project was launched

Market Comments

Market Comments: The Shanghai Stock Exchange closed above 3100 points, and the Growth Enterprise Market led the gains in stocks.

Education industry: Number of national master's degree applicants in 2020 3.41 million, a ten-year high

Futures Information

Metal energy: gold 356.06, up 0.02%; copper 48770, down 0.23%; rebar 3603, up 0.95%; rubber 13120 , up 0.19%; PVC index 6535, up 0.31%; Zheng Chun 2288, up 0.39%; Shanghai Aluminum 14070, down 0.07%; Shanghai Nickel 108780, up 0.60%; Iron Ore 677.5, up 1.80%; Coke 1897, up 0.72 %; coking coal 1196, up 0.59%; crude oil 498, down 1.27%;

Agricultural products: soybean oil 6862, up 0.67%; corn 1926, up 0.21%; palm oil 6346, up 0.70%; cotton 14145, Down 0.21%; Zhengmai 2477, up 0.00%; Sugar 5733, up 1.22%; Apple 7501, up 0.20%;

Exchange rate: EUR/USD 1.1152, down 0.40%; USD/RMB 6.9424, down 0.38%; USD/HKD 7.7786, up 0.11%.

(The above futures data comes from Shanghai Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange)

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Key recommendations

1. In December, supply and demand in my country’s foreign exchange market were basically balanced and the scale of foreign exchange reserves increased slightly

January 7 According to data from the State Administration of Foreign Exchange, China's foreign exchange reserves in December 2019 were US$3.107924 billion, compared with the previous value of US$3.095591 billion. Gold reserves stood at 62.64 million ounces (approximately 1,948.32 tons) at the end of December, remaining unchanged for three consecutive months.

In this regard, Wang Chunying, spokesperson and chief economist of the State Administration of Foreign Exchange, said that in December, supply and demand in my country's foreign exchange market continued to be basically balanced. Affected by factors such as the global trade situation, the monetary policy stance of major central banks, and the British election, the U.S. dollar index and bond prices of major countries have declined in the international financial market. The scale of foreign exchange reserves increased slightly due to the combined effects of factors such as exchange rate conversion and changes in asset prices.

Comment: The slight increase in the size of foreign exchange reserves in December was due to both the decline in the U.S. dollar index and the inflow of foreign capital into my country's financial market. The overall stability of the scale of foreign exchange reserves also provides important external support for the stability of the A-share market.

(Investment consultant? Cai Jin? Registered investment consultant certificate number: S0260611090020)

2. Tesla’s domestic Model 3 was officially delivered in batches and the Model Y project was launched

< p>On January 7, Tesla delivered the China-made Model 3 to social users for the first time at the Shanghai Gigafactory and announced the launch of the China-made Model Y project.

Regarding the China-made Model Y project, Tesla CEO Elon Musk said that the demand for Model Y produced in Shanghai may eventually exceed the sum of other Tesla models.

It is understood that Tesla Model Y was officially released in the United States on March 15, 2019. It is positioned as a compact SUV and comes standard with a 15-inch touch screen, immersive sound system and panoramic glass roof. It has a top speed of It is 209km/h, and the 0-100km acceleration time is 5.8 seconds. Currently, Model Y is open for pre-order. The pre-sale price of the rear-drive long-range version is 444,000 yuan; the pre-sale price of the dual-motor long-range version is 488,000 yuan; the pre-sale price of the dual-motor Performance high-performance version is 535,000 yuan.

It is worth mentioning that while Tesla models are being introduced to be made in China, they are also accelerating the localization process in terms of travel services and human-computer interaction. Previously, Tesla's official WeChat released a preview image of the new car system software update, showing localized applications such as Happy Landlord, Happy Upgrade, Mahjong, Bilibili Video, Youku, air quality display, weather forecast and entertainment daily.

Comment: With the mass production of Tesla’s China-made Model 3 and the launch of the China-made Model Y project, companies in Tesla’s supply chain will benefit significantly. It is expected that relevant stocks will have the opportunity to become active again in the future. It is recommended to continue to follow and pay attention. Some stocks have experienced large short-term gains, and it is not recommended to chase the rise with heavy positions.

(Investment Consultant? Cai Jin? Registered Investment Consultant Certificate No.: S0260611090020)

Market Comments

1. Market Comments: The Shanghai Stock Exchange closed at 3100 points, The GEM stocks leading the gains were brilliant

On Tuesday, the index opened slightly higher in early trading and then fluctuated and strengthened throughout the day, with the Shanghai Composite Index once again reaching 3,100 points. As of the close, the Shanghai Composite Index rose 0.69% to close at 3104.80 points, the Shenzhen Composite Index rose 1.22% to close at 10829 points, and the GEM Index rose 1.79% to close at 1893.21 points. From a disk perspective, the breeding sector and the game media sector continued to strengthen, the securities sector pulled up to support the market in the afternoon, the science and technology innovation board performed better, the Internet celebrity economic sector continued to be active, and fell back towards the end of the session, and the oil and gas extraction sector performed weakly. On the whole, individual stocks rose more than they fell, with the two cities exceeding the daily limit of 100 stocks, and capital sentiment recovered. The net inflow of Shanghai Stock Connect was 2.8 billion, and the net inflow of Shenzhen Stock Connect was 3.7 billion. The trading volume was reduced compared with yesterday.

Overnight, U.S. stocks shrugged off geopolitical concerns and turned positive. The Shanghai Stock Exchange Index also fluctuated higher after breaking through the important pressure level of 3,050 points. It broke away from the pattern of weight-based platforms and theme-based operas, and the money-making effect has obviously picked up. On the policy front, the leadership continues to lay the foundation for rising market conditions. After the implementation of the registration system, the "Guiding Opinions" issued by the China Banking and Insurance Regulatory Commission last Friday clearly stated that increasing direct financing is an important financing direction for our country in the future, and residents' savings must be effectively transformed into long-term funds in the capital market. As policies continue to advance, expectations for incremental capital to enter the market continue to strengthen, and the market ecology of the past stock game is expected to gradually change. In terms of operations, holdings are the main focus, and activist investors can consider selling high and buying low around recent hot topics. Prudent investors can select high-quality stocks to buy at bargain prices, while avoiding some over-hyped high-priced theme stocks and pay more attention to blue-chip stocks with performance expectations. (Investment consultant Zeng Zilei, registered investment consultant certificate number: S0260613090015)

2. Education industry: The number of postgraduate applicants nationwide in 2020 is 3.41 million, a ten-year high.

According to data from the Ministry of Education, 3.41 million people applied for the national master’s degree admissions examination in 2020, a year-on-year increase of 17.6%, a ten-year high. Referring to 2008-2018, the average annual compound growth rate of domestic graduate student enrollment was 6.1%. It is estimated that the trend of postgraduate recruitment ratio is still upward, making admission more difficult.

According to China Education Online data, from the perspective of postgraduate examination preparation expenses, 29% account for 3,000-10,000 yuan, and 22% account for more than 10,000 yuan. In terms of preparation methods, 49% of candidates reviewed by themselves and 31% reported in classes. Based on the number of postgraduate applicants in 2020, assuming that the participation rate is 30% and the average postgraduate training cost is 5,000 yuan per person, it is estimated that the postgraduate training market in 2020 will be 5.12 billion yuan.

Investment Consultant Comments: In 2020, the number of postgraduate entrance examination applicants across the country was 3.41 million, a ten-year high, with an increase of 17.6%. It is estimated that my country's postgraduate entrance examination training market will exceed 5 billion yuan in 2020. With the depreciation of academic qualifications, the compound growth rate of postgraduate applicants is expected to be 10% in the next five years. As the difficulty of the examination increases, the demand for postgraduate entrance examination training will increase. The cost of postgraduate entrance examination training is expected to maintain steady growth in the next five years. Investors are advised to pay attention to China Public Education and Hongtao Holdings. wait.

(Investment consultant Zeng Zilei registered investment consultant certificate number: S0260613090015)