Issue 410
2024-07-02
Spotlight events
The new "Company Law" came into effect on July 1: the registered capital is paid in place within 5 years
The Provisions of the State Council on the Implementation of the Registration and Management System for Registered Capital of the Company Law of the People's Republic of China was promulgated on July 1 and came into force on the date of promulgation. It mentions that if a company registered and established before June 30, 2024, and the remaining subscribed capital contribution period of a limited liability company exceeds 5 years from July 1, 2027, it shall adjust its remaining subscribed capital contribution period to 5 years before June 30, 2027 and record it in the articles of association, and shareholders shall pay the subscribed capital contribution in full within the adjusted subscribed capital contribution period; The promoter of a company limited by shares shall pay the full amount of shares according to the shares subscribed by it before June 30, 2027.
The new "Company Law" will come into effect today: the registered capital will be paid in place for 5 years
Macro news
The new policy of the China Securities Regulatory Commission was implemented on July 1, with two major changes at the operational level
On July 1, the Regulations on the Administration of Securities Transaction Costs of Publicly Offered Securities Investment Funds (hereinafter referred to as the "Regulations") formulated by the China Securities Regulatory Commission ("CSRC") came into effect.
Industry insiders said that the "Regulations" will reshape the interest model between public funds and brokers, and focus on two major changes at the operational level: one is the commission agreement signed to unify the centralized brokerage research institute, and the other is the supplementary agreement to reduce the commission accrual standard.
The new policy of the China Securities Regulatory Commission will be implemented today, and there will be two major changes at the operational level
Industry dynamics
The Ministry of Industry and Information Technology released the preparatory plan for the establishment of the Brain-Computer Interface Standardization Technical Committee After its establishment, there are three major work plans
On July 1, the Ministry of Industry and Information Technology Brain-Computer Interface Standardization Technical Committee Preparatory Plan was announced, which mentioned that the chairman and vice chairman of the Brain-Computer Interface Standardization Technical Committee of the Ministry of Industry and Information Technology (preparation) plan to invite relevant departments and research institutions to serve as responsible comrades, members of the committee are intended to be served by enterprises, scientific research institutes, universities and other industrial and technical experts in the field of brain-computer interface, and the secretariat is affiliated with the China Electronics Standardization Institute. The affiliated unit will provide the secretariat with the necessary working conditions and financial support. After its establishment, the work plan includes: optimizing and improving the standardization roadmap, accelerating the development of key technical standards, and promoting the publicity and implementation of standards.
New technology fills the domestic gap! The largest LNG reserve base in mainland China was completed
On June 30, CNOOC Yancheng "Green Energy Port" project, the world's largest LNG storage tank group of 270,000 cubic meters, independently designed and built by the mainland, was completed in Yancheng, Jiangsu Province, marking the completion of the largest LNG storage base in the mainland.
In the process of project design and construction, many new technologies and new processes have been innovatively adopted, and a number of technological achievements have filled the gaps in China, and the mainland has become one of the few countries in the world that can carry out the design and construction of ultra-large LNG storage tanks.
The world's largest sodium-ion battery energy storage system was put into operation, and a single charge can meet the daily electricity demand of 12,000 households
On June 30, the first phase of the Datang Hubei 100 MW/200 MWh sodium-ion new energy storage power station science and technology innovation demonstration project was completed and put into operation, with a production scale of 50 MW/100 MWh. This is currently the world's largest sodium-ion battery energy storage project, marking a new stage in the commercial operation of sodium-ion battery energy storage systems.
The energy storage system of the power station consists of 42 sets of energy storage battery compartments and 21 sets of booster converters, and a 110 thousand volt booster station is built. After being put into operation, a single charge can store 100,000 kilowatt-hours of electricity, release electric energy during the peak period of the power grid, meet the electricity demand of about 12,000 households for a day, and reduce carbon dioxide emissions by 13,000 tons per year, which has good economic and social benefits.
The first offshore all-round green design oilfield in mainland China was put into production
The Wushi 23-5 oilfield group development project was successfully put into operation on July 1. According to CNOOC, this is the first offshore all-round green design oilfield in mainland China and the first offshore oilfield shore power project in Beibu Gulf. The project is a crude oil processing station, an LNG station, a liquefied petroleum gas station, a production water station, a substation, and a 5G base station, with zero discharge of production water in the whole process, becoming a new model for the green development of China's offshore oilfields, and providing a demonstration for the transformation of the mainland's energy industry to low-carbon and green.
China Automobile Dealers Association: The automobile consumption index fell month-on-month in June
On July 1, the China Automobile Dealers Association released the latest issue of the "Automobile Consumption Index". According to the data, the automobile consumption index in June 2024 was 74.5, a decrease from the previous month. Judging from the June auto consumption index, it is expected that the sales of automobiles in July will fall month-on-month. Experts from the China Automobile Dealers Association believe that the hot and rainy weather in July affects consumers to buy cars in stores to a certain extent. In addition, dealers carried out promotional impulse activities in June in order to achieve the sales target, which also suppressed the growth of vehicle sales in July.
Company Spotlight
The general manager of a listed company under CNNC died of a sudden illness and took office for less than two months
On July 1, China Tongsheng, a Hong Kong-listed company, announced that its executive director and general manager Wang Yao had a sudden illness and died on June 29 at the age of 46.
According to the announcement, Wang Yao joined China Tongsheng in April 2024 and has been appointed as general manager since May, and since June, he has served as an executive director of China Tongsheng, a member of the strategy committee of the board of directors and a member of the science and technology innovation committee.
The general manager of a listed company under CNNC died of a sudden illness and took office for less than two months
VeriSilicon: It is expected to achieve operating income of 610 million yuan in the second quarter, an increase of 91.87% from the previous quarter
VeriSilicon announced that according to the preliminary calculation of the financial department, the company expects to achieve operating income of 610 million yuan in a single quarter in the second quarter of 2024, an increase of 91.87% from the previous quarter. In the first half of 2024, the semiconductor industry has gradually recovered, and the inventory situation of downstream customers has improved significantly, and the performance in the second quarter has improved significantly compared with the first quarter. The company's new orders are in good condition, and the orders in hand have remained high for three consecutive quarters.
Longjian Co., Ltd.: The consortium won the bid of 471 million yuan for the water supply and drainage integration project of Zhongzhou Times Supporting Industrial Park
On July 1, Longjian Co., Ltd. announced that the consortium formed by the company and Luoyang Planning and Architectural Design and Research Institute won the bid for the water supply and drainage integration project of Zhongzhou Times Supporting Industrial Park. The construction site of the project is east of Hanwei Avenue in Yibin District, west of Shahe, with a total planning area of 12 square kilometers, and the main construction content includes all engineering construction related content such as roads, comprehensive pipelines and ancillary facilities in the park, with a construction fee of 471 million yuan, a comprehensive design fee of 4.837 million yuan, a survey fee of 94 yuan/meter, and a construction period of 24 months.
Eight companies including Linzhou Heavy Machinery reported an increase in performance
Linzhou Heavy Machinery released a semi-annual performance forecast for 2024, and the company is expected to achieve a net profit of 95 million yuan to 115 million yuan in the first half of the year, a year-on-year increase of 51.68%-83.62%. The main reasons for the change in performance are: during the reporting period, the company's abundant orders, alleviating working capital, increasing production capacity, promoting an increase in production, and an increase in the company's operating income.
Naipu Mining Machinery is expected to achieve a net profit of 80 million ~ 90 million yuan in the first half of the year, an increase of 50% ~ 68.75% year-on-year; It is estimated that the non-net profit will be 78.05 million ~ 88.05 million yuan, an increase of 63.92% ~ 84.92% year-on-year.
Bowling Bao is expected to achieve a net profit of 58 million ~ 75 million yuan in the first half of the year, a year-on-year increase of 77.05% ~ 128.94%; The net profit was 57 million ~ 70 million yuan, an increase of 212.55% ~ 283.83% over the same period of the previous year.
Sanhua Intelligent Control expects to achieve a net profit of 1.464 billion ~ 1.604 billion yuan in the first half of the year, a year-on-year increase of 5% ~ 15%; The net profit deducted from the non-profit was 1.464 billion ~ 1.604 billion yuan, which was also expected to increase by 5% ~ 15%.
Xinmai Medical expects to achieve a net profit of 391 million yuan to 419 million yuan in the first half of 2024, a year-on-year increase of 40% to 50%.
Topband announced that in the first half of the year, it is expected to achieve a net profit of 361 million yuan to 413 million yuan, a year-on-year increase of 40% ~ 60%; It is estimated that the non-net profit will be 356 million ~ 407 million yuan, a year-on-year increase of 40% ~ 60%.
Zhejiang Xiantong expects a net profit of 88 million yuan to 95 million yuan in the first half of the year, a year-on-year increase of 63.63% to 76.65%; It is estimated that the net profit after deducting non-recurring gains and losses will be 86.5 million yuan to 93.5 million yuan, a year-on-year increase of 65.68% to 79.06%.
Shanghai Yanpu announced that it is expected to achieve a net profit of about 61.0022 million yuan in the first half of 2024, a year-on-year increase of about 92%; It is estimated that the non-net profit will be 56.4091 million yuan, a year-on-year increase of 94.72%.
Palm shares share price limit! The controlling shareholder intends to increase its holdings in large sums and proposes to repurchase up to 100 million yuan of shares
At the close of trading on July 1, the share price of Palm Shares, a Henan A-share listed company, increased by 254 million yuan.
On the news side, on June 30, Palm announced that its controlling shareholder, Henan Yuzi Affordable Housing Management and Operation Co., Ltd., proposed that Palm use its own funds to repurchase part of the company's RMB ordinary shares (A shares) by centralized bidding.
The total amount of funds to repurchase shares is not less than 50 million yuan, not more than 100 million yuan, the price of repurchased shares is not higher than 150% of the average trading price of the company's shares in the 30 trading days before the board of directors passed the resolution to repurchase shares, and the implementation period of the repurchased shares is within 12 months from the date of the company's general meeting of shareholders to review and approve the share repurchase plan, and the repurchased shares will be used for cancellation and equity incentives.
Palm shares share price limit! The controlling shareholder intends to increase its holdings in large sums and proposes to repurchase up to 100 million yuan of shares
Two consecutive 20CM daily limits! Henan Kaiwang Technology issued a risk warning
On the evening of July 1, Henan Kaiwang Electronic Technology Co., Ltd. (stock abbreviation Kaiwang Technology) issued a risk warning announcement.
The reporter noticed that Kaiwang Technology has continued to rise by 20CM in the last two trading days, and its share price has risen from 18.48 yuan / share to 26.62 yuan / share, a cumulative increase of 44%.
Kaiwang Technology said that the company did not find that the recent public media reported undisclosed material information that may or has had a greater impact on the company's stock trading price; The company, its controlling shareholder and actual controller do not have any material matters that should be disclosed but have not been disclosed or are in the planning stage; The controlling shareholder and actual controller of the company did not buy or sell the company's shares during the abnormal fluctuation of stock trading.
Two consecutive 20CM daily limits! Henan Kaiwang Technology issued a risk warning
The report card of the new car-making forces in June was released: the ideal list topped the list, and NIO and ZEEKR reached a new high
On July 1, a number of new energy vehicle companies disclosed their June report cards.
According to the data, NIO delivered 21,209 new cars in June, a year-on-year increase of 98% and a record high; In the second quarter of 2024, NIO delivered 57,373 new vehicles, exceeding the delivery guidance and increasing by 143.9% year-on-year. In the first half of 2024, NIO delivered a total of 87,426 new vehicles, a year-on-year increase of 60.2%.
Li Auto delivered 47,774 new vehicles in June, a year-on-year increase of 46.7%. Deliveries of 108581 vehicles in the second quarter of 2024 increased by 25.5% year-on-year. As of June 30, 2024, Li Auto has delivered 822345 vehicles, ranking first among China's new power brands.
Xpeng delivered a total of 10,668 new vehicles in June, up 24% year-on-year and 5% month-on-month. From January to June 2024, Xpeng delivered a total of 52,028 new vehicles, a year-on-year increase of 26%.
ZEEKR delivered 20,106 vehicles in June, an increase of 89% year-on-year and 8% month-on-month, setting a new record high. It is reported that this is also the first time that the ZEEKR brand has delivered more than 20,000 in a single month.
The report card of the new car-making forces in June was released: the ideal list topped the list, and NIO and ZEEKR reached a new high
Xinhu Zhongbao: The controlling shareholder is planned to be changed to Quzhou Zhibao
Xinhu Zhongbao announced that the company intends to re-elect the 11th board of directors and conduct the election of the 12th board of directors. The board of directors of the company is composed of 7 directors, of which 2 non-independent directors and 1 independent director are nominated by the company's largest shareholder, Quzhou Zhibao Enterprise Management Partnership (Limited Partnership), and 1 non-independent director is nominated by Quzhou Zhibao's related party, Quzhou Xin'an Caitong Intelligent Manufacturing Equity Investment Partnership (Limited Partnership), and the non-independent directors nominated by Quzhou Zhibao and its affiliates account for 3/4 of the company's non-independent directors, and the nominated independent directors account for 1/3 of the company's independent directors. If the general meeting of shareholders of the company deliberates and approves the above matters, Quzhou Zhibao and its affiliates can control the board of directors of the listed company, and the controlling shareholder of the company will be changed to Quzhou Zhibao in combination with Quzhou Zhibao has become the largest shareholder of the company; The actual controller is proposed to be changed to Quzhou state-owned asset management institution.
*ST Jiyao: The stock price is lower than 1 yuan for the first time, and there is a risk of termination of listing
*ST Jiyao announced that on July 1, the closing price of the company's stock was 0.93 yuan per share, the first time that the closing price of the stock was lower than 1 yuan. If the closing price of the company's shares is lower than 1 yuan for 20 consecutive trading days, the company's shares are at risk of being terminated.
PowerChina: The consortium signed an EPC general contracting contract of 8.13 billion yuan for the Sunan Huangcheng Pumped Storage Project
PowerChina announced that the company's subsidiary, PowerChina Northwest Survey, Design and Research Institute Co., Ltd. (consortium leader) and China Water Resources and Hydropower Fourth Engineering Bureau Co., Ltd., formed a consortium to sign an EPC general contracting contract for Sunan Huangcheng Pumped Storage Project with PowerChina Sunan Pumped Storage Co., Ltd., with a contract amount of about 8.13 billion yuan and a project duration of about 3,044 days.
China Hi-Tech: The subsidiary plans to publicly list and transfer 89.33% of the equity of Wanshunda
China Hi-Tech announced that Wuhan Guoxin, a wholly-owned subsidiary of the company, intends to transfer its 89.33% equity of Beijing Wanshunda Real Estate Development Co., Ltd. (hereinafter referred to as "Wanshunda") through public listing channels, with a listing price of not less than 16.9431 million yuan, and the final transfer price is determined according to the results of public listing. After the completion of this transaction, the company and its subsidiaries no longer hold the equity of Wanshunda, and the company will no longer include it in the scope of consolidated statements.
Investment mantras
The wealth market is a place where experienced people get more money, and people with money get more experience!
- [US] Jule
Editor-in-charge: Liu Anqi | Review: Li Zhen | Supervisor: Wan Junwei