The hottest theme of the year? Two more a shares have just come in

category:Finance
 The hottest theme of the year? Two more a shares have just come in


On the evening of July 23, Zhongbai group and Bubugao both announced that the company had submitted a request for instructions on supporting the company to apply for the business qualification of duty-free commodities. It is worth noting that both Bubugao and Zhongbai group said that the relevant work is still at the initial stage of application, and the qualification of duty-free commodity operation belongs to franchise qualification, and there is significant uncertainty whether the qualification can be obtained finally. At present, the companys main business is still the retail business of taxable goods, and there will be no significant changes in the short term.

Stock price rises with the tide

Since the successful application of Wangfujing this year, the tax-free license has become a hot topic for a while, and major department store giants are scrambling to attack. Bailian shares, Hubei Wushang a, Dashang shares, Eurasia Group, Nanning Department store, step by step high retail enterprises have joined the war. After the news came out, the share prices of relevant listed companies also rose sharply.

Before Wangfujing announced to take the tax-free license, the share price suddenly rose by about 120% in just over a month, and the market value increased by more than 10 billion. At that time, the market questioned whether there was any inside information. Even if the company urgently clarified, it still failed to completely dispel the market doubts. Since the announcement of Wangfujing on the evening of June 9, the share price of Wangfujing has risen by 141%. It is worth noting that after the tax-free license was granted to Wangfujing in Beijing, the shares of Bailian, a retail listed company under the state-owned assets of Shanghai, also rose sharply by 163%, and fell sharply recently, with a total market value of 34.6 billion yuan.

The concept of tax-free shares hot, but also once become hot hot hot money with the hype game. Wangfujing has been listed on the dragon and tiger list three times on June 2, June 10 and June 12, and the trading of special seats in Shanghai Stock connect is active, buying and selling on a large scale. Well known hot money seats are also very active in Wangfujing. CICCs Beijing Jianguomenwai Street business department bought 22.7232 million yuan on June 2, Guotai Junan Shanghai Jiangsu Road business department bought 68.5844 million yuan from June 8 to June 10, CITIC Securities Shanghai Branch, industrial securities Shaanxi Branch, CICC fortune Nanjing Taiping South Road business department, Huatai Securities Shenzhen Yitian road Rongchao business center Heart business department and a number of institutional seats to participate in it.

Meanwhile, since May, the stock prices of seven stocks in the tax-free concept plate have risen by more than 100%. Among them, the total market value of Chinas leading shares in Chinas CMAC exceeded 440 billion yuan, closing at 227.27 yuan; Lingnan shares recorded three consecutive boards after it announced its application for duty-free products; it was revealed that it would purchase Zhuhai tax-free products, and Gree real estates share price recorded 8 boards in 8 days

Some industry insiders have reminded that the rise of tax-free concept stocks has deviated from the fundamentals, and obtaining the qualification of duty-free products is only the first step in business. There is no precedent for the implementation of tax-free business in China, and it is difficult to determine how much performance it can contribute to listed companies. In fact, in Shanghai, Xiamen, Shantou and other places, there have been cases in which duty-free shops in the city have been cancelled due to poor business conditions. Investors should give priority to stocks with strong performance certainty to avoid following suit.

Organization: the prospect of domestic tax-free industry is optimistic

Objectively speaking, Chinas tax-free sales growth rate is significantly higher than the global level. Chinas tax-free oligarch in China cited a set of data in its 2019 annual report. According to the forecast of generation research, a Swedish Research Institute, the global sales volume of tax-free and tourism retail in 2019 will reach US $81.82 billion, with a year-on-year increase of 7.8%. Chinas tax-free industry is growing rapidly, but its global share is still low. According to the data of 2018, Chinas tax-free market only accounts for about 8% of the global tax-free market, while the number of outbound tourists and outbound tourism consumption in China accounted for 10% and 18% of the world in the same period. Because of this, many analysts believe that Chinas tax-free industry has great growth potential.

Tianfeng Securities pointed out that in the early stage of development, the tax-free industry in South Korea was fully supplied to make a bigger cake and grew simultaneously through multiple channels. In the later stage, tax-free competition was encouraged. The economic law naturally led to the concentration of industry competition. At present, Chinas tax-free industry is the largest in China, but the policy is gradually liberalizing. In the future, the policy of tax-free on outlying islands and in City stores may usher in greater opening-up. Compared with South Korea, the domestic tax-free industry is in a period of rapid growth, and the trend of consumption return under policy guidance is significant. Under the stimulation of policies, Hainan Islands tax-free consumption may usher in expansion and upgrading. It is optimistic about domestic tax-free consumption and overseas consumption.

On June 1, the CPC Central Committee and the State Council issued the general plan for the construction of Hainan free trade port, proposing to relax the tax-free shopping quota of outlying islands to 100000 yuan per person per year, and expand the types of duty-free commodities. In order to implement the requirements of the overall plan, further release the policy effect and build a high-quality free trade port, the Ministry of finance, the General Administration of customs and the State Administration of taxation have issued the announcement on the tax-free shopping policy of Hainan Island passengers, which will be implemented from July 1.

Good policy

Tax free concept shares accelerate expansion

On July 20, Eurasia Group also announced that the company has recently submitted a request to relevant departments of Jilin Province and Changchun municipal government on supporting the company to apply for the business qualification of duty-free commodities. The companys tax-free commodity business qualification application work is in the initial stage of application, and there is significant uncertainty whether the company can finally obtain the qualification. At present, the companys main business is still the retail business of taxable goods, and there will be no significant changes in the short term.

On July 19, Dasheng announced its intention to apply for the qualification of duty-free products. It said in the announcement that it is to optimize the companys business structure, enhance the competitiveness of the industry and increase new profit growth points. At the same time, Dashang shares disclosed that at present, the relevant work is still in the initial stage of application. The company and its controlling shareholders have not received relevant documents from any government departments, and have not conducted business negotiations with any customers or partners on the operation of duty-free products, or signed any contracts or agreements.

On July 15, Hubei Wushang a also issued a notice on abnormal fluctuations in stock trading, indicating that the company had applied to the relevant government departments for the business qualification of duty-free products. The announcement also said that since the work is still in the process of promotion, there is uncertainty about whether the business qualification of duty-free products can be approved, and the follow-up companies will fulfill the obligation of information disclosure in accordance with the relevant laws and regulations in a timely manner. In addition, on July 15, Lingnan holdings announced that Lingnan group, the controlling shareholder, said in writing that the group was promoting the application for the operation qualification of duty-free products, and had formally submitted a request to the relevant departments of Guangzhou municipal government to support its application for the business license of duty-free business. However, as the work is still in the process of promotion, there are still some problems in the approval of the business qualification of duty-free products Certainty. On July 6, Bailian said that after consulting the controlling shareholder Bailian Group, Bailian Group had applied to the relevant government departments for the qualification of duty-free products. However, as the work is still in the process of promotion, there is uncertainty in the approval of the business qualification of duty-free products. Source: Yang Qian, editor in charge of China fund daily_ NF4425

On July 15, Hubei Wushang a also issued a notice on abnormal fluctuations in stock trading, indicating that the company had applied to the relevant government departments for the business qualification of duty-free products. The announcement also said that since the work is still in the process of promotion, there is uncertainty about whether the business qualification of duty-free products can be approved, and the follow-up companies will fulfill the obligation of information disclosure in accordance with the relevant laws and regulations in a timely manner.

In addition, on July 15, Lingnan holdings announced that Lingnan group, the controlling shareholder, said in writing that the group was promoting the application for the operation qualification of duty-free products, and had formally submitted a request to the relevant departments of Guangzhou municipal government to support its application for the business license of duty-free business. However, as the work is still in the process of promotion, there are still some problems in the approval of the business qualification of duty-free products Certainty.

On July 6, Bailian said that after consulting the controlling shareholder Bailian Group, Bailian Group had applied to the relevant government departments for the qualification of duty-free products. However, as the work is still in the process of promotion, there is uncertainty in the approval of the business qualification of duty-free products.