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4月22日,GTC泽汇资本表示,黄金价格近期出现了前所未有的上涨,首次突破了每盎司3400美元的关口,这一价格走势主要受到市场动荡和特朗普总统对美联储政策的批评所推动。尽管市场波动加剧,但黄金作为避险资产的吸引力并未减弱。

  GTC泽汇资本进一步认为,黄金价格的上涨不仅得益于其作为避险资产的特性,还受到美元走弱和债券收益率上升的双重推动。尽管传统上较高的债券收益率对黄金不利,但当前市场环境下,美国债券的吸引力下降,促使投资者转向黄金等其他避险资产。

  GTC泽汇资本还提到,市场对贸易政策的不确定性以及全球经济前景的担忧,进一步增强了黄金的避险需求。尽管美国政府宣布暂停部分关税措施,但贸易紧张局势的长期影响仍存在,这使得黄金的避险价值更加凸显。

  此外,GTC泽汇资本还强调,不确定性——不仅仅是贸易,还包括全球冲突和政治波动——正在发挥核心作用。“只要不确定性持续加剧,黄金将继续向上突破,”GTC泽汇资本表示。“我们正处于真正的未知领域。”从技术角度来看,GTC泽汇资本认为黄金的趋势没有立即耗尽的迹象。“是的,黄金在随机振荡器上处于超买状态,但势头如此强劲,以至于它违背了传统指标。这是一个教科书式的抛物线走势。”

  GTC泽汇资本总结认为,尽管当前市场环境复杂,但黄金作为一种避险资产的价值依然显著。投资者应密切关注贸易政策的变化以及全球经济数据的动态,以便及时调整投资策略。在这种不确定的环境下,黄金和其他避险资产可能会继续受到市场的青睐。

  来源:经济参考报

  4月22日中午,有大量网友在社交平台反映,“京东外卖‘崩’了”。对此,京东外卖官方发文回应称,“非常抱歉,耽误大家用餐了!因今日午高峰京东外卖下单量暴增,导致系统出现短暂故障,目前已全面恢复,大家可以正常下单了。”

  此外,京东外卖表示,为表达歉意,所有超时20分钟以上的外卖订单,京东全部免单。同时,对于今日午高峰宕机期间所有下单用户,京东外卖将于今天额外发放一张10元无门槛优惠券到下单账户。

  原致歉公告发布后约一个半小时,京东外卖修改补偿公告,调整为:在系统崩溃期间,凡是没有取消订单且超时20分钟的一律免单,额外再赠送3张25-20的金券;凡是取消订单的一律赠送2张25-20的金券以供未来三天消费。

  公告中,京东外卖表示之后会持续优化服务与体验,本周将进行全系统压测,确保此类故障不再发生。

  关于超时20分钟以上外卖订单退款和优惠券发放的实际情况,《经济参考报》记者致电京东客服,对方表示,免单是系统自动发起售后,不需要用户自行操作申请。另外,优惠券的发放会以短信形式通知用户,将在今日陆续发放。(实习生熊峻渝对本文亦有贡献)

  大市震荡盘整,现金流策略有效性持续得到验证。今日(4月22日)沪深300指数微幅收跌,而叠加现金流策略的300现金流指数成功收涨,一并跑赢中证A500指数。

  公开资料显示,300现金流指数全称为沪深300自由现金流指数,采用自由现金流选股策略,在剔除金融和地产的沪深300成份股中臻选50大“现金奶牛”公司,是市场稀缺的大中盘现金流指数。

  

  目前全市场已上市的跟踪300现金流指数的ETF有且仅有1只——300现金流ETF(562080),从日K走势来看,该ETF自4月15日上市以来稳扎稳打,拾级而上,截至今日收盘日线斩获六连阳,场内价格创上市以来新高。

  

  从成份股表现来看,海大集团、洛阳钼业涨超4%居前,权重股多数飘红,宁德时代涨1.71%,中国移动、中国石油、中国海油均顽强收涨。下跌方面,云铝股份、长春高新跌逾2%居前,权重股中国神华、五粮液收跌。

  图:300现金流指数市值前十成份股涨跌幅(4月22日)

  

  近期市场主线较模糊,盘整行情居多,300现金流ETF(562080)六连阳展现出一定的“避震”属性,其标的指数300现金流成份股选自沪深300,而近期指数走势显著超越沪深300,什么原因?

  从指数编制角度来看,300现金流指数选样空间剔除了金融和地产,以有“企业命脉、红利之源”之称的自由现金流为核心选股依据,锁定沪深300中“造血能力”最强的核心资产。在不确定性的定价环境中,充沛的现金流则意味着更高的确定性,也就更可能获得资金青睐。

  从成份股质量来看,300现金流指数央国企含量高,数量占比6成。整体经营韧性较强,截至当前,已披露2024年年报的39家成份股公司全部实现盈利,归母净利润同比增速中位数达14.29%;已披露2025年一季报业绩预告的10家中有9家预告净利同比增速在20%以上。

  展望后市,300现金流能否延续上行之路?分析指出,近期市场成交量相对萎靡,或反映出市场资金暂未形成合力,或许短期内“国家队”放手,让股指适当回踩将有利于后续的反弹。中短期具有稳定现金流的板块防御价值仍凸显,往后可关注财报季收尾的窗口期以及月末的重要会议。

  穿越周期,现金为王!在不确定性宏观环境中,坚定拥抱“真金白银”确定性,投资工具关注300现金流ETF(562080),一键投资沪深300“现金牛”核心资产,底仓配置聪明之选。

  数据来源于沪深交易所、公开资料。

  1. 风险提示:300现金流ETF被动跟踪沪深300自由现金流指数,该指数基日为2013.12.31,发布日期为2024.11.12。该基金由华宝基金发行与管理,代销机构不承担产品的投资、兑付和风险管理责任。投资人应当认真阅读《基金合同》、《招募说明书》、《基金产品资料概要》等基金法律文件,了解基金的风险收益特征,选择与自身风险承受能力相适应的产品。基金管理人评估的该基金风险等级为R3-中风险,适宜平衡型(C3)及以上的投资者,适当性匹配意见请以销售机构为准。销售机构(包括基金管理人直销机构和其他销售机构)根据相关法律法规对该基金进行风险评价,投资者应及时关注销售机构出具的适当性意见,并以其匹配结果为准,各销售机构关于适当性的意见不必然一致,且基金销售机构所出具的基金产品风险等级评价结果不得低于基金管理人作出的风险等级评价结果。基金合同中关于基金风险收益特征与基金风险等级因考虑因素不同而存在差异。投资者应了解基金的风险收益情况,结合自身投资目的、期限、投资经验及风险承受能力谨慎选择基金产品并自行承担风险。中国证监会对该基金的注册,并不表明其对该基金的投资价值、市场前景和收益做出实质性判断或保证。基金的过往业绩及其净值高低并不预示其未来业绩表现,基金管理人管理的其他基金的业绩并不构成对该基金业绩表现的保证。基金有风险,投资须谨慎!
MACD金叉信号形成,这些股涨势不错!

恒顺醋业(600305.SH)披露的2024年年报显示,公司2024年实现营业收入21.96亿元,同比增长4.25%;净利润1.27亿元,同比增长46.54%。

分产品来看,去年醋系列实现收入12.66亿元,较上年同期下降2.20%,醋系列毛利率45.31%,同比增加2.21个百分点。酒系列实现收入3.29亿元,较上年同期上升0.47%,酒系列毛利率31.10%,同比增加5.47个百分点;酱系列实现收入1.80亿元,较上年同期下降8.07%,酱系列毛利率10.58%,同比减少0.57个百分点。

也就是说,醋系列产品是毛利率最高的,且为恒顺醋业贡献了最多的营收。财报显示,醋系列产品最大的成本是直接材料,占总成本的66.93%,其次是制造费用,占总成本的16.07%,此外,直接人工和运输费用各占8%左右。而酒系列和酱系列的直接材料成本占比都在70%以上,高于醋系列。

第一财经记者注意到,恒顺醋业的醋系列产品毛利率不仅是公司所有品类中最高的,也普遍高于其他同行。ST加加( (002650.SZ)披露的2024年半年报显示,食醋类产品毛利率为26.41%。千禾味业(603027.SH)的食醋类产品毛利率则为40.27%。当然,加加和千禾的主打产品均是酱油,恒顺醋业的主打产品是食醋,这也体现出了调味品企业“术业有专攻”的现象。

2024年餐饮行业的回暖或许也在一定程度上刺激了恒顺醋业的业绩增长。根据国家统计局数据,2024年全年社会消费品零售总额48.79万亿元,同比增长3.5%;消费对经济增长贡献率为44.5%。全国餐饮收入55,718亿元,同比增长5.3%。

恒顺醋业表示,餐饮端需求回暖直接推动调味品动销改善,头部企业通过加大餐饮渠道投入,加速小品牌出清,市场集中度进一步提升。此外,在消费行业普遍受到考验的情况下,调味品作为消费者每日餐饮中最为常用的产品之一,需求相对稳定且对经济环境变化的敏感度较低,有着较强的抗周期特性。

不过,调味品行业的竞争也很激烈。恒顺醋业在财报中表示,随着居民生活水平的持续提升,调味品行业逐渐迈向成熟,零售渠道产品不断推新,竞争有所加剧,工业渠道定制需求有所增加。

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