〇 Policies support the high-quality development of venture capital, and venture capital funds welcome development opportunities
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The State Council issued the "Several Policies and Measures to Promote the High-quality Development of Venture Capital", with a total of six measures and 17 detailed rules, covering the whole chain of fundraising, investment, management, and withdrawal, to support the high-quality development of venture capital. Venture capital funds have ushered in multi-angle support, including: encouraging long-term funds to invest in venture capital, supporting insurance institutions to invest in venture capital funds in accordance with market-oriented principles, encouraging qualified venture capital institutions to issue corporate bonds and debt financing instruments, implementing differentiated supervision in line with the characteristics of venture capital funds, and optimizing the policy of refunding venture capital funds.
The industry believes that venture capital funds have ushered in policy support to encourage and guide them to invest in growth and innovative start-up enterprises. The investment turnover rate of venture capital enterprises has increased, the certainty of performance has increased, and venture capital focusing on specialized, special and new industries has benefited significantly. In the long run, the improvement of the primary investment market environment will help venture capital to deliver more high-quality enterprises to the capital market and better serve the real economy.
$Zhangjiang Hi-Tech (SH600895)$ By the end of 2023, a total of 52 direct investment projects with an investment amount of 3.86 billion yuan will be listed on the company's investment enterprises in 2023, and 3 will be listed on the Science and Technology Innovation Board and 1 on the main board;
$Zhongxin Group (SH601512)$ As of the end of 2023, it has invested in 36 science and technology projects, with an investment amount of 560 million yuan and a total investment of 5.86 billion yuan.
〇 Samsung announced that it will launch silicon photonics technology to drive continuous upgrading of optical communications
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Samsung's foundry division recently said that it is expected to launch the 1.4nm process technology in 2027, and is currently ensuring the performance and yield of the technology, and the 2nm process technology using the back-of-chip power delivery network (BSPDN) technology will also be launched in 2027. Samsung also shared plans to launch silicon photonics technology in 2027, which is also the first time Samsung has announced the adoption of silicon photonics technology. This technology uses optical fiber to transmit data on the chip, which can greatly improve the I/O data transmission speed compared to traditional cables/circuits.
@开源证券研究所 believes that the development of AI is in full swing, driving the continuous iterative upgrade of optical communication networks towards higher rates such as 1.6T and 3.2T, which is expected to bring growth opportunities to the silicon photonics communication industry. In the data communication market, high-speed optical modules are accelerating iterative upgrades, and the penetration rate of silicon photonics is expected to increase. In the telecom market, coherent optical modules continue to upgrade, and the demand for silicon optical modules may grow; In the field of CPO, silicon photonics technology, as one of the core technologies of CPO, is expected to become the focus of the strategic layout of major manufacturers. Pay attention to investment opportunities in the industrial chain such as silicon photonics device and optical module manufacturers, silicon photonics CW light source suppliers, silicon photonics process supporting manufacturers, etc.
$Zhongji InnoLight (SZ300308)$ is a leading domestic optical module;
$Borche Technology(SZ300548)$ 800G copper cable products used in the field of data communication have been developed and sent samples by customers, and high-speed silicon photonics products are being continuously developed and optimized.
Helping rural revitalization Promote a new round of rural road improvement actions
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According to reports, at present, the mainland is promoting the implementation of a new round of rural road upgrading actions. Recently, the Ministry of Transport held a special meeting, proposing to implement a new round of rural road improvement actions and continue to promote the high-quality development of "four good rural roads". Special meetings were held intensively in many places to put forward specific investment and construction targets. It is reported that from January to April this year, the national rural roads completed 109.27 billion yuan of fixed asset investment. In the next step, the relevant departments will also take multiple measures to promote a new round of rural road construction and transformation, continuously improve the rural road network and service facilities along the route, and further improve the level of rural road safety protection and transportation service capacity.
Comments: Rural roads are the transportation infrastructure with the widest coverage, the largest population and the strongest public welfare in rural areas. In recent years, the mainland has continued to promote the construction of "four good rural roads", and the coverage and depth of rural roads have been significantly improved. According to the data, by the end of 2023, the total length of rural roads in the mainland reached 4.6 million kilometers, an increase of 18.5% from the end of 2014. The investment and construction of rural roads is an important part of the smooth urban and rural economic cycle, and with the further improvement of the level of investment and construction, it is conducive to further improving the county and township freight logistics and transportation system and driving the development of rural industrial economy. A-share related concept stocks mainly include $Dagang Holdings (SZ300103)$, $Baoli International (SZ300135)$, etc.
【CSI Focus】
The global greenhouse gas monitoring plan has been launched, and the value of monitoring instruments has been highlighted
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Recently, the Executive Committee of the World Meteorological Organization (WMO) has adopted an important resolution - the Global Greenhouse Gas Monitoring (G3W) Implementation Plan. The plan aims to comprehensively strengthen the monitoring of global greenhouse gas emissions and serve the formulation of relevant policies in the field of global climate governance. The plan will be implemented in phases based on the long-term coordinated greenhouse gas monitoring and research work of the World Meteorological Organization. According to the implementation plan, 2024 to 2027 will be used as a trial operation phase, focusing on the monitoring of carbon dioxide, methane and nitrous oxide, the three key greenhouse gases, and accurate and efficient gas monitoring instruments have undoubtedly become indispensable tools.
In recent years, the mainland has implemented a national strategy to actively respond to climate change, built a "1+N" policy system for carbon peak and carbon neutrality, promoted structural adjustment and optimization of energy structure, and adopted a series of measures such as energy conservation, carbon reduction and emission reduction, establishment and improvement of carbon market, and increase forest carbon sinks, so as to make positive progress in response to climate change and significantly reduce carbon emission intensity. On January 22 this year, the national voluntary greenhouse gas emission reduction trading market was launched. This institutional innovation is conducive to promoting the formation of a national carbon market system in which the mandatory carbon market and the voluntary carbon market are complementary and interconnected, and help achieve the goal of carbon peak and carbon neutrality. A-share related concept stocks mainly include $Xianhe Environmental Protection (SZ300137)$, $Wanyi Technology (SH688600)$, etc.
Company Trends】
○$Yahua Group (SZ002497)$ Yahua Lithium (Ya'an) Co., Ltd., a wholly-owned subsidiary, signed a Production Pricing Agreement with Tesla Inc. of the United States, stipulating that from 2025 to 2027, Tesla will purchase lithium carbonate products from Ya'an Lithium. The price of the product shall be determined in the manner agreed upon by both parties.
NavInfo (SZ002405)$ A member company, Liufen Technology, joined China Telecom Low Altitude Economic Industry Alliance
○$Jiechuang Intelligent (SZ301248)$ reached a strategic cooperation with Chenxing Future Airlines to build a low-altitude economic industrial ecological chain.
○$格科微(sh688728)$ 量产第二代单芯片3200万像素图像传感器GC32E2。
○$Bluesail Medical (SZ002382)$ Introduced a US$200 million investment from Thai industrial investor HKG.
○$China Molybdenum (SH603993)$ plans to transfer 65.1% of the equity of Xinjiang CMOC for RMB 2.9 billion, and is expected to obtain a net financial income of about RMB 1.5 billion after the completion of the transaction.
○$ ZKTeco (SH688777)$ The chairman proposed 100 million yuan to 200 million yuan to repurchase shares.
○$ST Wanlin (SH603117)$ intends to repurchase shares for 150 million to 300 million yuan.
○$Nuotai Biotech (SH688076)$ The net profit for the first half of 2024 is expected to increase by 330% to 497% year-on-year.
【Tide of Funds】
○ Northbound funds sold a net of 7.236 billion yuan on June 19. Kweichow Moutai, Midea Group, and Yangtze River Power were net sold 747 million yuan, 289 million yuan, and 202 million yuan respectively. Cialis had the largest net purchase, with an amount of 493 million yuan.
○$ JSTC (SZ300284) $ 20% daily limit on June 19. According to the data of the Dragon and Tiger List, the largest buying seat, Ping An Securities Jiangsu Branch, bought 35.5545 million yuan. The special seats for Shenzhen-Hong Kong Stock Connect bought 28.4709 million yuan and sold 37.3715 million yuan at the same time. A special seat for an institution was sold for 10.8358 million yuan.