Economic Observer Network News On July 1, the financial news and capital market events that will be focused on:
1. The new "Company Law" will come into force today
The newly revised Company Law of the People's Republic of China will come into force on July 1, 2024. The newly revised Company Law has improved the subscription registration system for limited liability companies, clarifying that the capital contribution subscribed by all shareholders shall be paid in full by the shareholders within five years from the date of establishment of the company in accordance with the provisions of the company's articles of association; At the same time, if a company registered and established before the implementation of the new Company Law has a capital contribution period that exceeds the time limit specified in this Law, it shall be gradually adjusted to within the time limit specified in this Law, unless otherwise provided by laws, administrative regulations or the State Council; If the term and amount of capital contribution are obviously abnormal, the company registration authority may require them to adjust them in a timely manner in accordance with the law.
2. The China-Serbia Free Trade Agreement came into force
According to the website of the Ministry of Commerce, on October 17, 2023, China and Serbia officially signed the Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Serbia. At present, both sides have completed their respective domestic approval procedures, which will officially enter into force on July 1, 2024. After the entry into force of the China-Cyprus FTA, China and Cyprus will gradually eliminate tariffs on 90% of the tariff items, of which more than 60% of the tariff items will be cancelled immediately on the day the agreement takes effect. The proportion of imports between the two sides will reach about 95% of the final zero-tariff items.
3. The adjustment of the national medical insurance drug list was launched today
According to the website of the National Health Insurance Administration, the "2024 Work Plan for the Adjustment of the National Basic Medical Insurance, Work-related Injury Insurance and Maternity Insurance Drug Catalogue" was announced on June 28, and the adjustment of the 2024 National Medical Insurance Drug Catalogue will be launched on July 1. In addition to adding negotiated drugs that do not guarantee market supply as agreed in the agreement, the provisions on ensuring the supply of drugs will be added to the text of this year's agreement and included in the assessment management, so as to urge pharmaceutical companies to do a good job in market supply after successful negotiations, so as to better protect the rights and interests of the majority of insured patients.
4. 8 measures for traffic management to facilitate the people and benefit enterprises will be implemented today
Recently, the Ministry of Public Security has formulated and introduced 8 new measures for the reform of public security traffic management to facilitate the people and benefit enterprises, which will be implemented from July 1, 2024, including further deepening the promotion and application of electronic licenses, further reducing licenses and facilitating the people, further optimizing the organization of non-motorized vehicle traffic at urban intersections, and further innovating the "Internet + traffic management" service, making it more convenient for the masses to do things and travel, and better serving the overall situation of expanding domestic demand, promoting consumption, and stabilizing growth.
5. The Measures for the Administration of Fixed Asset Loans, the Measures for the Administration of Working Capital Loans, and the Measures for the Administration of Personal Loans shall come into force today
Recently, the State Administration of Financial Supervision revised and issued the Measures for the Administration of Fixed Asset Loans, the Measures for the Administration of Working Capital Loans, and the Measures for the Administration of Personal Loans, which will come into force on July 1, 2024. The key points of the amendment include reasonably broadening the scope of the purpose and scope of fixed asset loans and working capital loans, and optimizing the calculation requirements of working capital loans to meet the actual needs of the credit market; Adjust and optimize the standard of entrusted payment amount, appropriately extend the time limit for entrusted payment, and improve the flexibility of entrusted payment; Combined with the online needs of credit processing, clarify the forms of handling such as video interviews and off-site investigations, and adapt to new financing scenarios.
6. The "Provisions on the Security Management of Internet Government Affairs Applications" will come into force today
Recently, the Office of the Central Cyber Security and Information Commission and other four departments formulated the "Provisions on the Security Management of Internet Government Affairs Applications", which will come into force on July 1, 2024. The provisions require that the construction and operation of internet government affairs applications shall be in accordance with the provisions of relevant laws and administrative regulations, as well as the mandatory requirements of national standards, and employ technical measures and other necessary measures to prevent risks such as content tampering, paralysis caused by attacks, and data theft, and ensure the safe and stable operation of internet government affairs applications and data security.
7. The "Basic Rules for the Operation of the Electricity Market" shall come into force today
Recently, the National Development and Reform Commission (NDRC) issued the Basic Rules for the Operation of the Electricity Market, which will come into force on July 1, 2024. The rules have been adjusted to improve the relevant expressions, improve the definitions and transaction methods of electric energy and ancillary service transactions, and refine the relevant requirements for risk prevention and control. The rules make it clear that the electricity market operators shall perform market monitoring and risk prevention and control responsibilities in accordance with the principle of "who operates, who prevents, who operates, and who monitors", monitors the market in accordance with regulations, and accepts the supervision of the power regulator.
8. The Measures for the Administration of Pollutant Discharge Permits shall come into force today
Recently, the Ministry of Ecology and Environment revised and issued the Measures for the Administration of Pollutant Discharge Permits, which will come into force on July 1, 2024. The "Management Measures" highlight the full coverage of pollutant dischargers, environmental management elements, and pollutant discharge management, and clearly implement comprehensive permit management for the discharge of air pollutants, water pollutants, industrial solid waste, industrial noise and other pollutants by pollutant dischargers. Fully implement the requirements of relevant laws, regulations, and standards, and include multiple environmental elements such as air, water, solid waste, and noise, as well as the requirements of key soil pollution supervision units for the control of the discharge of toxic and harmful substances, the investigation of potential soil pollution hazards, and self-monitoring, into pollutant discharge permits in accordance with law, and promote the "one-permit" management of fixed pollution sources.
9. A total of 1 new shares were subscribed today: GEM Qiao Feng Intelligence
On July 1, a total of 1 new shares were launched for subscription, which was Qiao Feng Intelligence on the GEM. Qiaofeng Intelligent issued a total of 30.19 million shares, 7.25 million shares online, the issue price was 26.50 yuan per share, and the issue price-earnings ratio was 19.96 times.
10. The restricted shares with a market value of 41.324 billion yuan were lifted today
On July 1, a total of 32 companies released restricted shares, with a total of 2.673 billion shares, and a total market value of 41.324 billion yuan based on the latest closing price.
From the perspective of the amount of bans lifted, 19 companies have lifted more than 10 million shares. SIEMIC Mobile-U, Weigao Orthopedics, and Tax Friends ranked first in terms of the number of shares lifted, with 695 million shares, 323 million shares, and 315 million shares respectively. From the perspective of the market value of the lifting of the ban, the number of shares released by 19 companies exceeded 100 million yuan. The market value of Tax Friends Co., Ltd., Hangzhou Thermal Power Co., Ltd., and Weigao Orthopedics is in the top, with a market value of 8.528 billion yuan, 6.788 billion yuan, and 6.408 billion yuan respectively. From the perspective of the proportion of the number of shares lifted to the total share capital, 14 companies have lifted the ban ratio of more than 10%. Weigao Orthopedics, Tax Friends Co., Ltd., and Lei Erwei are among the top in terms of lifting the ban, with the lifting rates of 80.83%, 77.46%, and 75.0% respectively.
11. 21 companies disclosed the progress of the repurchase
On July 1, a total of 21 companies issued announcements related to share repurchases. Among them, 1 company's shareholders proposed to repurchase the company's shares, 3 companies disclosed the stock repurchase plan for the first time, 14 companies disclosed the progress of the implementation of the share repurchase, and 3 companies have completed the implementation of the repurchase plan.
Judging from the repurchase plan proposed by shareholders, a total of 1 company's shareholders proposed a repurchase amount of more than 10 million on the same day. Palm shareholders proposed the highest amount of repurchase, proposing to repurchase no more than 100 million yuan. Judging from the first disclosure of the repurchase plan, a total of 2 companies had a share repurchase plan of more than 10 million yuan on the same day. Shuoshi Biotech, Pingtan Development, and Suotong Development have the highest repurchase plans, with plans to repurchase no more than 300 million yuan, 160 million yuan, and 1 yuan respectively. From the perspective of the progress of the implementation of the repurchase, Kangenbei, Fuchuang Precision, and Zhefu Holdings have the highest repurchase amount, repurchasing 268 million yuan, 228 million yuan, and 147 million yuan respectively.
12. Today, there is a 7-day reverse repurchase of 50 billion yuan expiration
On June 24, the central bank launched a reverse repurchase operation of 50 billion yuan, with a winning interest rate of 1.8%, which expires today.
13. Data such as the ISM manufacturing PMI in the United States in June and the CPI monthly rate in Germany in June will be released.
(Data source: Wind, the content does not constitute any investment advice)
Compiled by Wang Junyong, Economic Observer Network