Today's attention //
1. China Securities Association revised and issued the Code of Professional Ethics for Securities Practitioners
2. Remortgage of existing housing loans? China Merchants Bank responded: It has not received the notice yet
3. The minimum amount of ICBC APP prepayment of housing loan is 50,000? There is no limit to the actual measurement in Beijing, but an appointment is required
4. China Shipbuilding: It is planning to absorb and merge China Heavy Industries, and the stock is suspended
5. Apple China responded to "iPhone16 does not support WeChat": It is actively communicating with Tencent about the commission of the app store
6. State Tobacco Monopoly Administration: Establish a unified national e-cigarette transaction management platform
7. A comprehensive shutdown of production, a state-owned real estate enterprise in Shenzhen announced that it was "waiting for work"
Macro Warning //
1. The General Office of the State Council issued the "Opinions on Promoting the High-quality Development of Trade in Services through High-level Opening-up"
The General Office of the State Council recently issued the "Opinions on Promoting the High-quality Development of Trade in Services with High-level Opening-up", proposing 20 key tasks in five aspects. The first is to promote the institutional opening up of trade in services, establish and improve the negative list management system for cross-border trade in services, give full play to the leading role of the opening platform, strengthen the docking of rules and regulatory coordination, and improve the level of standardization of trade in services. The second is to promote the cross-border flow of resource elements, facilitate the cross-border flow of professionals, optimize the management of cross-border capital flow, promote the transaction and application of technological achievements, and promote the efficient, convenient and safe flow of data across borders. The third is to promote innovation and development in key areas, enhance the capacity of international transport services, enhance the international competitiveness of travel services, support the international development of professional services such as finance, consulting, design, certification and accreditation, encourage the export of traditional advantageous services, promote the integrated development of trade in services and trade in goods, expand the import of high-quality services, and promote green and low-carbon development. Fourth, expand the layout of the international market, deepen international cooperation in trade in services, and establish and improve the promotion system for trade in services. Fifth, improve the support system, innovate supporting policies and measures, improve the level of statistical monitoring of trade in services, and strengthen regional cooperation in trade in services.
2. Remortgage of existing housing loans? China Merchants Bank responded: It has not received the notice yet
Wang Liang, president of China Merchants Bank, said that he has not yet received the relevant notice and draft for comments on the possibility of carrying out remortgage business. However, if measures such as the conversion of existing mortgage loans to mortgages are implemented, it will have a negative impact on the existing mortgage interest rates of the banking industry. Wang Liang believes that the macroeconomic management departments should do a good job of full demonstration and research before launching policies. According to the Financial Associated Press, this is the first time that a bank executive has officially responded to the news since the market rumored that the regulatory authorities have liberalized the remortgage business last Friday.
Bond Alert //
1. Fitch: Affirms BII's 'A+' long-term domestic and foreign currency issuer ratings, with a 'negative' outlook
Fitch affirms Beijing Infrastructure Investment Co., Ltd.'s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'A+' with a negative outlook and a short-term Foreign Currency IDR of 'F1'. Fitch also confirms BII's US$6 billion medium-term note programme and its wholly-owned indirect subsidiary, Eastern Creation II Investment Holdings Ltd. The notes issued and unconditionally and irrevocably guaranteed by BII are rated "A+".
2. Tianjin Securities Regulatory Bureau: Tianjin New Financial Investment has taken the measure of issuing a warning letter
The Tianjin Securities Regulatory Bureau issued a decision that Tianjin New Financial Investment provided financial assistance to investors participating in the subscription in the issuance of "23 Jinjin 01" and "23 Jinjin 02" corporate bonds, which violated relevant regulations, and the Tianjin Securities Regulatory Bureau decided to take supervision and management measures against the company by issuing a warning letter.
3. Shanghai Yuexiu: The corporate headquarters provides a pledge of major assets, with a book value of 408 million yuan
Shanghai Yuexiu Financial Leasing Co., Ltd. announced that in order to meet the financing needs of normal operation, it obtained a working capital loan of 300 million yuan from CITIC Bank Shanghai Branch with a term of 2 years with all the accounts receivable under the financial leasing contract signed by the company and Zhejiang Taiyi New Energy Co., Ltd. as pledge. The book value of the accounts receivable was 408 million yuan, accounting for 11.2% of the company's net assets at the end of the previous year.
4. Landbridge Group: Postponement of disclosure of the 2024 semi-annual financial report
Shandong Landbridge Group Co., Ltd. announced that because the company is actively promoting debt restructuring and risk resolution, in order to ensure the quality of information disclosure, it cannot release the 2024 semi-annual financial report before August 30, 2024 as originally planned. At present, under the guidance of the local financial authorities, the Lanshan District Government has set up a special working group to deal with the company's financial creditor's rights. The Company will follow the arrangement of the Working Group to complete the preparation and disclosure of financial reports as soon as possible.
5. Brilliance Auto Group Holdings: The court rejected the plaintiff's claim of Postal Bank in the first instance
Brilliance Auto Group Holdings announced that on August 30, the company received a civil judgment served by the Shenyang Intermediate People's Court, and the first-instance judgment is as follows: the plaintiff Postal Savings Bank of China Co., Ltd. is rejected.
6. Oceanwide Holdings: Minsheng Bank requested the court to order the company to repay the loan principal of 300 million yuan and interest
Oceanwide Holdings Co., Ltd. announced that the company was sued by Minsheng Bank, and Minsheng Bank requested the court to order the company to repay the loan principal of 300 million yuan to Minsheng Bank, and pay the corresponding interest, penalty interest and compound interest; The Company was ordered to pay all expenses incurred by Minsheng Bank for the realization of the claims and security rights.
7. Gaoyou Transportation Industry Investment Group: Abolish the board of supervisors and supervisors
Gaoyou Transportation Industry Investment Group Co., Ltd. announced that after studying, it was decided to cancel the board of supervisors of municipal state-owned enterprises, and the members of the board of supervisors of former municipal state-owned enterprises will be naturally dismissed. The above-mentioned changes have been approved by the competent authorities, and the company is going through the procedures for changing the industrial and commercial registration in the local market supervision and administration bureau in accordance with the relevant regulations.
8. H20 Hejing 6: September 5 to 11 is the registration period for resale, and there is great uncertainty in the redemption of resale
Investors of Guangzhou Hejing Holdings Group Co., Ltd. "H20 Hejing 6" can register for the sale of the bonds from September 5 to September 11, 2024 (trading days only), and choose to sell back all or part of the bonds held to the issuer at par value, or choose to continue to hold them. Up to now, the "H21 Hejing 1" issued by the issuer has been extended, and the current bond and the 2023 interest of "H20 Hejing 8" are still within the grace period. In view of this, there is great uncertainty about the redemption of the resale of the bonds.
China Stock Alert //
1. China Shipbuilding: It is planning to absorb and merge China Heavy Industries, and the stock will be suspended from tomorrow
China Shipbuilding announced that the company and China Heavy Industry are planning to absorb and merge China Heavy Industry by China Shipbuilding through the issuance of A shares to all shareholders of China Heavy Industry. The transaction is still in the planning stage, there is still uncertainty about the relevant matters, after the company's application, the company's securities have been suspended since the market opened on September 3 (Tuesday), and the suspension time is expected to be no more than 10 trading days.
2. Haiqi Group: It is planned to make major adjustments to the original major asset restructuring plan
Haiqi Group announced that the company intends to make major adjustments to the original restructuring plan, which is that the company intends to purchase 100% of the shares of Hainan Travel Investment held by Hainan Travel Investment by issuing shares and paying cash, and at the same time intends to issue shares to no more than 35 qualified specific investors to raise matching funds. The adjusted plan is as follows: the company intends to acquire the duty-free control of Hainan Travel after the divestment of the Huating Project by paying cash and/or assets to Hainan Tourism Investment.
3. Fujia shares: Shareholder Huang Xiaoping was ordered to repurchase the shares that were reduced in violation of regulations and pay the price difference
Fujia announced that Huang Xiaoping, a shareholder of the company, received a decision on administrative supervision measures from the Ningbo Securities Regulatory Bureau. Huang Xiaoping failed to fulfill the pre-disclosure obligation when reducing his shareholding in the company, which violated relevant regulations. The Ningbo Supervision Bureau decided to take administrative supervision measures against him by ordering him to repurchase the shares that had been reduced in violation of regulations and to pay the price difference to the listed company, and recorded it in the integrity file of the securities and futures market. The board of directors of the company decided to fine Huang Xiaoping 20,000 yuan.
4. The Shanghai procuratorate decided to arrest Chen Demei, the former vice president of SAIC, in accordance with the law
The case of Chen Demei, former vice president of the Shanghai Group, who was suspected of accepting bribes and illegally making profits for relatives and friends, was investigated by the Shanghai Municipal Supervision Commission and transferred to the procuratorate for review and prosecution. A few days ago, the First Branch of the Shanghai Municipal People's Procuratorate made a decision to arrest Chen Demei on suspicion of accepting bribes and illegally making profits for relatives and friends. The case is being further processed.
5. China Merchants Shipping responded to the decline in stock price: or misread the income tax expense due to the semi-annual report
According to the National Business Daily, at the 2024 semi-annual joint results briefing of China Merchants Southern Oil, some investors asked the reason for the recent decline in the stock of China Merchants Shipping. Wang Yongxin, general manager of China Merchants Shipping, responded that the company's stock has indeed fallen significantly in recent days. He analyzed: in addition to market reasons, it may be related to the misreading of some investors caused by the company's semi-annual report income tax expense; In addition, the VLCC (ultra-large tanker) market is still in the off-season, and the spot freight performance is sluggish, and some investors are worried about whether the VLCC market will not be prosperous in the fourth quarter. "At present, the company's fleets are operating normally, and there is no information that should be disclosed but has not been disclosed."
6. *ST Tongzhou: A series of disputes over liability for securities misrepresentation by 117 investors have been accepted by the court
*ST Tongzhou announced that the company recently received the "Notice of Response" and related materials served by the Shenzhen Intermediate People's Court, showing that the court has accepted a series of cases involving a total of 117 investors including Lian Zhushen against the company for securities misrepresentation liability disputes. The plaintiff requested the defendant to compensate for various economic losses, including the loss of investment difference, the loss of commission, the loss of stamp duty and the loss of interest, and bear all the litigation costs of the case. The company has hired a team of professional lawyers to actively respond to the lawsuit.
7. Shanxi coking coal: the subordinate Jining Coal Industry and Zhencheng bottom mine were suspended
Shanxi Coking Coal announced that Jining Coal Industry, a subsidiary of Huajin Coking Coal, a holding subsidiary, had an accident on August 31, resulting in one death, and has now stopped production. In addition, an accident occurred on August 14, 2024, resulting in one death, which occurred in the Zhencheng bottom mine, a subsidiary of the company, and production was suspended on the same day. The annual approved production capacity of Jining Coal Industry and Zhencheng Bottom Mine is 3 million tons and 1.9 million tons respectively, totaling 4.9 million tons, accounting for 10.02% of the company's total approved production capacity.
8. Zhang Chunbo, deputy general manager of Guangzhou Pharmaceutical Group, was taken away for investigation
After the official announcement that Li Chuyuan, the former chairman of Guangzhou Pharmaceutical Group, was under investigation, on the evening of September 1, Baiyunshan, a listed company under its umbrella, announced that it had received the resignation report of the company's director Zhang Chunbo, and that "due to personal reasons", Zhang Chunbo resigned from the company's director and other positions and no longer held any position in the company. The first financial reporter confirmed from a number of independent information sources that Zhang Chunbo has also been taken away by relevant departments for investigation. “
Overseas Warning //
1. Apple China responded that "iPhone16 does not support WeChat": It is actively communicating with Tencent about the commission of the app store
According to Shell Finance, there is news on the Internet that "iPhone16 may not support WeChat", in this regard, Apple's technical adviser in China said that the third-party remarks about whether the iOS system or Apple devices can use WeChat again, including whether WeChat can continue to be listed and downloaded in the Apple App Store in the future, need to be communicated and discussed between Apple and Tencent to determine the future situation.
2. For the first time in history, Volkswagen is considering closing its Germany plant to cut expenses
Volkswagen is considering closing its Germany plant to cut expenses further. According to a statement released on Monday, these potential measures are aimed at Volkswagen's major passenger car brands as well as other group entities. Specific measures also include attempts to terminate the agreement between the company and the union to ensure employment stability until 2029. If the plant closes, it will mark the first time in Volkswagen's 87-year history that it will close a plant in Germany, and the company is expected to clash with a strong union.
3. Prime Minister Netherlands stated that he would weigh the benefits and risks on the export of chip equipment to China
According to CCTV News, in response to the question of whether Netherlands semiconductor equipment manufacturer ASML will further restrict exports to China, Netherlands Prime Minister Dick · Schoff recently said that when making a decision, the Netherlands government will consider the economic interests of ASML and weigh the benefits and risks. For the Netherlands, ASML is a very important innovation industry and should not suffer under any circumstances.
4. The number of newborns in Korea dropped to 230,000, and the demographic crisis further escalated
The latest statistics have once again sounded the alarm on Korea's population. The latest data released by Statistics Korea shows that the number of newborns in Korea will be 230,000 in 2023, the lowest level since statistics began in 1970. Also hitting a new low is Korea's total fertility rate of 0.72 in 2023. Among them, the total fertility rate of the capital Seoul is only 0.55.
5. Cathay Pacific grounded some Airbus A350 aircraft due to engine parts failure
Cathay Pacific said it had been forced to cancel some flights because it was conducting a thorough inspection of all its Airbus A350 aircraft after engine parts were found to be faulty. The European Union Aviation Safety Agency said in a statement that it was aware of the Cathay Pacific A350 incident and had been in contact with Airbus and Rolls·Royce. The regulator confirmed that a formal investigation is underway.
6. HP continues to claim $4 billion from Mike ·
HP said it will continue to seek up to $4 billion in damages from United Kingdom billionaire Mike · Lynch's estate in the United Kingdom. The United States company has been seeking compensation for its acquisition of United Kingdom tech company Autonomy, which co-founder Mike · Lynch allegedly orchestrated fraud to inflate the company's value.
Financial Interbank Warning //
1. The regulator initiates the verification of the investor's suspected illegal borrowing of securities accounts
According to the Financial Associated Press, ChinaClear has recently launched a verification of some suspected illegal borrowing accounts in the market from January to July 2024, and brokerages need to feedback on the verification situation. If an investor is suspected of lending a securities account in violation of regulations, the securities firm may list its securities account as a key monitoring account, and conduct warning education for investors to clarify the consequences of using securities accounts in violation of regulations. For the verification of the existence of illegal lending of securities accounts, the securities firm may take necessary measures and report in a timely manner. In the process, each relevant securities firm shall obtain and use the securities account verification information in accordance with the principles of legality, reasonableness and necessity. Verification is ongoing.
2. The Securities Association of China revised and issued the Code of Professional Ethics for Securities Practitioners
The China Securities Association revised and issued the Code of Professional Ethics for Securities Practitioners, and the rules came into effect on the date of promulgation. The China Securities Association said that all units should strengthen the management of personnel selection and employment, do a good job of "entry, promotion, and exit" of personnel, and strengthen the inspection of personnel's political quality, moral character, and honest practice. The company shall prudently hire and appoint personnel with negative reputation information. Resolutely clear out those who have violated laws and regulations, and committed immoral and unethical behaviors, and constantly purify the ranks of employees.
3. The first case of PPN securities misrepresentation dispute in China was heard
According to the Securities Times, the Shanghai Financial Court held a public hearing to hear a case in which the plaintiff, a rural commercial bank, sued the lead underwriter, a law firm, an accounting firm, and the controlling shareholder and director of the issuer for a dispute over the liability for securities misrepresentation on the grounds that a third party, a group co., LTD., had misrepresentation in the process of issuing non-public directional debt financing instruments. This case is the first case involving PPN securities misrepresentation disputes in China since the launch of the first batch of non-public directional debt financing instruments in China's interbank bond market in 2011.
4. Shao Min, deputy general manager (presiding over the work) of Beijing Regional Audit Center of China Guangfa Bank, was reviewed and investigated
According to the Central Discipline Inspection Commission and the State Supervision Commission in Chinese Life Discipline Inspection and Supervision Group and the Tianjin Municipal Commission for Discipline Inspection and Supervision: Shao Min, deputy general manager (in charge of the work) of the Beijing Regional Audit Center of Guangfa Bank, is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review by the Central Discipline Inspection Commission and State Supervision Commission in Chinese Life Discipline Inspection and Supervision Group and supervision and investigation by the Tianjin Municipal Supervision Commission.
5. Low-risk funds are "hot and cold", and more than ninety percent of interbank certificate of deposit funds have shrunk
According to China Fund News, low-risk funds are favored by investors, but the once popular interbank certificate of deposit fund has been given a cold reception. According to the data, as of the end of June, the scale of more than ninety percent of interbank certificate of deposit funds has declined compared with the beginning of its establishment, and nearly half of the products have shrunk by more than ninety. At the same time, the market attention of such products has also decreased significantly, and the scale of newly established products during the year is mostly less than 500 million yuan.
6. Why did tens of billions of private placements become dishonest judgment debtors? The Zurich Fund has spoken out again
The 10 billion private equity Zurich fund spoke out again after the civil litigation case. On September 2, the official official account of the Zurich Fund issued a "Letter to the Media in 2024", stating that the case is the only civil litigation case of the Zurich Fund since its establishment in 2018. The Zurich Fund had the ability and strength to perform the contract, but the applicant insisted on resolving the issue through legal proceedings, which harmed the interests of the Zurich Fund on a commercial level, so the company appealed to express a different view, but the original judgment was upheld in the case under the will of power.
Industry Warning //
1. State Tobacco Monopoly Administration: Establish a unified national e-cigarette transaction management platform
The State Tobacco Monopoly Administration issued the "Notice on Revising and Printing the Administrative Rules for E-cigarette Transactions", mentioning that the tobacco monopoly administrative department of the State Council has established a unified national e-cigarette transaction management platform. E-cigarette nicotine raw material sales enterprises, e-cigarette nicotine production enterprises, atomizer production enterprises, e-cigarette production enterprises (including product production, processing, brand holding enterprises, etc., the same below), e-cigarette wholesale enterprises (including e-cigarette import business enterprises), e-cigarette retail business entities and other e-cigarette market entities that have obtained tobacco monopoly licenses in accordance with the law shall conduct transactions through the platform. The import and export of e-cigarette products, atomizers and nicotine for e-cigarettes shall be filed through the platform in accordance with relevant provisions.
2. The minimum amount of ICBC APP prepayment of housing loan is 50,000? There is no limit to the actual measurement in Beijing, but an appointment is required
According to Beike Finance, recently, there are rumors that some users in Guangzhou were rejected because the input amount was less than 50,000 yuan when they applied for early repayment of housing loans on the ICBC APP. On the evening of September 2, ICBC mortgage customers in Beijing showed that there is no limit on the amount of prepayment reminders in Beijing. However, an appointment is required for early mortgage repayment, and the earliest appointment date is October 2. The customer can also make an appointment for early repayment of 10,000 yuan, but can only make an appointment for 1 early repayment.
3. China Photovoltaic Industry Association organized a "Symposium on Bidding and Bidding Mechanism for Photovoltaic Power Station Construction"
The Photovoltaic Industry Association organized a "Symposium on the Bidding and Bidding Mechanism for the Construction of Photovoltaic Power Stations". The meeting suggested that the China Photovoltaic Industry Association should take the lead in compiling and publishing the price index and cost index to better reflect the current price of photovoltaic products and serve as an important basis for the price adjustment mechanism. The meeting called on upstream photovoltaic manufacturing enterprises to fully realize their main responsibility for solving the current industry dilemma, put an end to vicious competition, and truly stand in the industry position to make decisions and actions.
4. Canada intends to impose a 100% surcharge on Chinese electric vehicles, and the China Chamber of Commerce for Mechanical and Electrical Engineering responded
The China Chamber of Commerce for Mechanical and Electrical Industry has taken a solemn stand on Canada's 100% surcharge on Chinese electric vehicles. The China Chamber of Commerce for Mechanical and Electrical Industry was shocked and puzzled by this. At present, China's exports of electric vehicles to Canada are still in their infancy and are welcomed by the market, and the Canadian government has ignored the feedback of enterprises and consumers in the public consultation and promulgated this discriminatory measure that only targets China's electric vehicles, which seriously violates WTO rules and interferes with the global green transformation and development process. This measure by the Canadian side will cause heavy losses to Chinese exporters, seriously affecting bilateral economic and trade relations and the confidence of Chinese enterprises in carrying out trade and investment in Canada.
5. Milk prices continued to decline, and pastures accelerated their production capacity
According to the Beijing News, in the first half of 2024, dairy farming enterprises will usher in a downward cycle in the industry. The losses of 9 listed and listed upstream dairy companies reached eighty percent, and only 2 maintained profitability, and the net profit of China Shengmu, Modern Dairy, Junhua Agriculture and Animal Husbandry, and Australasia Group all fell by triple digits. It is understood that in the first half of 2024, downstream dairy enterprises and upstream breeding enterprises are implementing de-capacity plans.
6. A comprehensive shutdown of production, a state-owned real estate enterprise in Shenzhen announced that it was "waiting for work"
According to Leju Finance, recently, a notice document on "employees of Shum Yip Land Investment and Development (Shenzhen) Co., Ltd., a well-known real estate enterprise in Shenzhen-Shum Yip Group, are waiting for work" was spread on the Internet platform, causing widespread heated discussions inside and outside the industry. According to the document, affected by the continuous economic downturn, the real estate industry is sluggish, the company's construction projects and new expansion of the operating company continue to decrease, and the departments of the engineering management department, planning and design department and cost contract department are insufficient and the workload is not saturated. Based on this objective fact, the company's management has decided to arrange personnel from relevant departments to enter the state of standby from August 8, 2024, and the unilateral resumption of work of employees who are arranged to enter the state of standby will not be counted by the company.
Review of historical articles
Making History! The central bank made a move, with far-reaching impact", "The two giants acted on the same day", "Xiaomi went crazy", "Exploded! Huawei's high growth rate of 34.3% in the first half of the year》
RISK(Wind 风控)
Real-time monitoring of network-wide information and timely warning of risk dynamics
Accurately identify risk subjects and quickly reach the source of risk
Intelligently connect associated risks in series and deeply analyze risk links
An intelligent risk control platform that integrates due diligence and risk monitoring
