Today's attention //
1. State Office: all-round and multi-channel development of food resources
2. Hong Kong Stock Exchange: Inclement weather trading will be implemented from September 23, 2024
3. Transsion Holdings: The person in charge of finance of the company has been lifted from lien
4. Ming-Chi Kuo: It is estimated that the iPhone 16 series will sell 37 million in the first weekend, a year-on-year decrease of 12.7%
5. A number of rural financial institutions have lowered deposit interest rates
6. Market Supervision Bureau of Hefei High-tech Zone: Filed a case for investigation of the three sheep suspected of "misleading consumers" and other behaviors in the live broadcast
7. United States retail sales unexpectedly increased, but online shopping masked mixed results for other merchants
Macro Policy //
1. State Office: all-round and multi-channel development of food resources
The General Office of the State Council issued the "Opinions on Practicing the Big Food Concept and Building a Diversified Food Supply System". The "Opinions" put forward that by 2027, the concept of big agriculture and big food will be generally established, the food source channels will be effectively expanded, the development of food resources in forests, grasslands, rivers, lakes and seas will make positive progress, the development level of facility agriculture will continue to improve, the biological industry will develop steadily, and a diversified food supply system will be built and formed with the overall planning of grain, economy and feeding, the combination of agriculture, forestry, animal husbandry and fishery, and the simultaneous development of plants, animals and microorganisms, the industrial chain will be extended and expanded, and the supply of grain and important agricultural products will be more powerful. By 2035, the food industry chain will be sound and perfect, the food varieties will be richer and more diverse, the diversified food supply system will be fully completed, the quality and efficiency of the food industry will be significantly improved, and the diversified food consumption and nutritional and health needs of the people will be effectively met.
China Bond Alert //
1. The 30-square-meter house that Xu Jiayin bought in Hong Kong 25 years ago will be auctioned to repay debts
According to the Hong Kong Economic Daily, China Evergrande was ordered to be liquidated earlier, and the Hong Kong High Court also ruled that Evergrande's founder Xu Jiayin had to repay more than 5.3 billion yuan of debts to CITIC Group's Hexin Hengju, otherwise he would have to sell his property under his name to pay off the debt under an absolute charge order. The case was heard in the High Court yesterday, and the court approved the execution of the charge order in the absence of Hui, and the property will be sold at auction to pay off part of the debt. It is understood that the property involved in the case is Unit A on the 6th floor of Cheung King Building, 144 Austin Road, Kowloon. According to the information, the unit in question is a two-bedroom and one-living room partition, with an area of about 375 square feet, and it is reported that Hui Jiayin spent HK$1.75 million to purchase it in 1999 after he made his first pot of gold from his involvement in the real estate business in his early years.
China Stock Alert //
1. Hong Kong Stock Exchange: Inclement weather trading will be implemented from September 23, 2024
HKEX announced that the exchange has received regulatory approval to conduct inclement weather trading. Inclement weather trading will be effective from 23 September 2024. Securities trading on or through exchanges (including Northbound and Southbound trading of Stock Connect) will continue to be maintained under adverse weather conditions. Similar to the situation on a regular trading day, all Exchange Participants are required to continue to provide trading-related services during adverse weather conditions.
2. Chutian Technology: Lei Yu, a senior executive of the company, was released on bail pending trial and resigned from his position as a senior manager
Chutian Technology announced that recently, the company received a notice from senior management Lei Yu, and the public security organ issued a "Notice of Enforcement of Release on Bail Pending Trial", deciding to release him on bail pending trial for a period of time starting from September 14, 2024. The company received a written resignation report from Lei Yu on September 17, and he resigned as a senior manager of the company for personal reasons and still held other positions in the company after leaving office. As of the date of this announcement, Lei Yu directly held 8,100 shares of the company.
3. Transsion Holdings: The person in charge of finance of the company has been lifted from lien
Transsion Holdings announced that the company disclosed the "Announcement on Major Matters" on September 7, 2024, and Xiao Yonghui, the company's financial director, was placed in lien. The company recently received the "Notice of Lifting Retention in Custody" issued by the Supervision Committee of Zhen'an District, Dandong City, and the Supervision Committee of Zhen'an District of Dandong City has lifted the retention measures against Xiao Yonghui. At present, the company's production and operation management is normal, and Xiao Yonghui has been able to perform the duties of the financial person in charge normally.
4. 6 Lianban Hainan Haiyao: The stock price has risen significantly in the short term, and the company's price-to-book ratio deviates from the average level of "pharmaceutical manufacturing".
As of September 13, 2024, the company's price-to-book ratio was 3.78, and the company's price-to-book ratio of the company's "pharmaceutical manufacturing industry" was 2.25. The company's current price-to-book ratio is higher than the aforementioned "pharmaceutical manufacturing" price-to-book ratio. In the first half of 2024, the company is in the red. At present, the company's shareholding company, Hainan Unicol Biotechnology Co., Ltd., is mainly engaged in the preparation and storage of human somatic cells, application technology research and drug development, and now its main business is cell preparation and storage, and because Unacal has been in the stage of R&D investment and market development, it has not yet made a profit. Recently, the company's stock price has risen sharply in the short term, which has obviously deviated from the market trend, and there is a risk that the market sentiment is overheating.
5. It is rumored on the Internet that "a Xiaomi SU7 smoked in an accident"? Xiaomi Auto responded
The online video shows that "a Xiaomi SU7 smoked in the accident", Xiaomi Automobile issued a response, at about 10:03 a.m. on September 16, a Xiaomi SU7 had an accidental traffic accident on the road near Nanjing South Railway Station, and the preliminary analysis results of the accident are now synchronized as follows: Xiaomi Automobile cooperated with the traffic police/fire protection/insurance to investigate the accident scene, and combined with the analysis of vehicle data, it was preliminarily confirmed that the vehicle was slippery due to the slippery road surface during driving, and the driver's improper operation caused the vehicle to rush out of the lane and crash into the isolated flower bed area. The front bar and chassis area of the vehicle collided with a continuous square stone (about 28cm*30cm*50cm) around the perimeter of the isolation belt, and the bottom of the battery was seriously damaged due to the impact. After the accident, firefighters intervened in time, and the risk of the vehicle was removed and moved to a safe area. The passenger on the bus was injured in the impact of the collision and has been promptly examined and treated in the hospital.
6. Tianhao Energy: Terminated its participation in the restructuring transaction of China Oil and Gas Holdings
Tianhao Energy announced that the company previously disclosed that it intends to participate in the restructuring transaction of China Oil and Gas Holdings Co., Ltd. The Company has recently received a notice from China Oil and Gas Holdings that the High Court of Hong Kong has dismissed the appeal of the creditors' restructuring plan of China Oil and Gas Holdings at a hearing held on 13 September 2024. The matter triggered the termination clause of the package of restructuring documents signed by the parties, and the Company decided to terminate its participation in the restructuring transaction of China Oil and Gas Holdings and discharge all rights, liabilities and obligations of the parties under the restructuring documents.
7. 2 Lianban Nantian Information: The company is planning to issue A shares to specific objects
Nantian Information issued a change announcement that the company is planning to issue A shares to specific objects, and the total amount of funds to be raised does not exceed RMB 650 million, and the relevant plan has not yet been finalized, and there is still uncertainty in this matter. In addition to the above matters, the company, the controlling shareholder and the actual controller do not have other material matters that should be disclosed but have not been disclosed. After verification, during the abnormal fluctuation of the company's shares, the company's controlling shareholders, directors, supervisors and senior managers did not buy and sell the company's shares.
Overseas Warning //
1. United States retail sales unexpectedly increased, but online shopping masked mixed results for other merchants
United States retail sales unexpectedly rose in August, buoyed by online shopping, but mixed results from other merchants were drowned out. Data released by the United States Department of Commerce showed that unadjusted retail purchases rose 0.1% in August. The previous month's change was also revised upwards to an increase of 1.1%. Sales excluding automobiles and gasoline increased for the fourth consecutive month. Five of the 13 categories reported growth, with declines in electronics and appliances, clothing and furniture, and others. The e-commerce sector rose 1.4%. The decline in gas station revenues reflects a pullback in gasoline prices.
2. Ming-Chi Kuo: It is estimated that the iPhone 16 series will sell 37 million in the first weekend, a year-on-year decrease of 12.7%
Ming-Chi Kuo, a well-known Apple analyst, said that according to the latest supply chain survey and the pre-order results on Apple's official website, the following key data of each model of the iPhone 16 pre-order in the first weekend were obtained, including pre-order sales in the first weekend, average waiting time for shipment and pre-order stock estimates. The iPhone 16 series is estimated to sell about 37 million units in the first weekend, a decrease of about 12.7% year-on-year compared with the sales of the 15 series last year.
3. Singapore intends to undertake "bold reforms" to its regulatory structure to revive the flagging stock market
Singapore's Second Finance Minister Cheh Fong Tat announced that Singapore is ready to undertake "bold reforms" to its regulatory structure to revive the flagging stock market. It is reported that Xu Fangda is currently chairing a task force to study ways to strengthen the stock market. He said the group's goal is to remove outdated rules, encourage high-quality companies to go public, and improve liquidity. Xu Fangda said that the measures will be implemented in phases before the end of the 12-month evaluation period, which may include cutting listing costs and expanding the variety of stock derivatives.
4. The investigation report shows that Hitachi Shipbuilding Company is suspected of tampering with fuel consumption and nitrogen oxide emission data
In response to the problem of falsification of marine engine test data by two subsidiaries of Japan's Hitachi Zobbing Co., Ltd., the company submitted an interim report to the Ministry of Land, Infrastructure, Transport and Tourism of Japan based on the findings of an external investigation committee. According to the report, in addition to the previously discovered problems of tampering with fuel consumption rate test data, the investigation also found that two subsidiaries had tampered with engine NOx emission test data, involving more than 1,300 marine engines.
5. Plagued by strikes, Boeing froze hiring to cut costs across the board
Boeing announced across-the-board cost cuts, including a hiring freeze and a suspension of non-essential employee travel, as well as considering temporary unpaid leave to save cash in response to a strike by more than 30,000 factory workers.
6. The Carlyle Group restarted its plan to IPO the chemical company Nouryon
The Carlyle Group has restarted plans to make an IPO for chemical company Nouryon, according to people familiar with the matter. The company could be valued at up to €13 billion in an IPO. Carlyle is considering an United States IPO as soon as early 2025.
Financial Interbank Warning //
1. A number of rural financial institutions have lowered deposit interest rates
Recently, a number of rural financial institutions, such as Ningwu Ruidu Village Bank, Laibin Xiangzhou Changjiang Village Bank, Xincheng County Rural Credit Cooperative, and Mengyin Qifeng Village Bank, have lowered the interest rate on RMB personal deposits, and some institutions have lowered the interest rate by as much as 55 basis points. Since the LPR was lowered on July 22, some banks have adjusted their deposit rates for the second time. For example, the Xincheng County Rural Credit Cooperatives in Guangxi Province lowered the listed interest rate on RMB deposits for the first time on August 2, with an adjustment range of 5 to 20 basis points. On September 12, the Xincheng County Rural Credit Cooperatives adjusted again, reducing the interest rate of lump sum deposits with a maturity of 1 year or more by 10 to 30 basis points.
2. Hong Kong is considering issuing a regulatory framework for AI applications in the financial sector
The Hong Kong government is preparing to release its first policy statement on the use of AI in the financial sector, a move that could catalyze the adoption of the technology in areas such as trading, investment banking and cryptocurrency, according to people familiar with the matter. Hong Kong's Financial Services and the Treasury Bureau plans to issue a framework of guidelines on the ethical use of AI and general principles for the application of the technology in the financial sector, according to people familiar with the matter, who spoke on condition of anonymity because the information was not publicly available. Officials are still drafting the document while seeking feedback from the industry, people familiar with the matter said; Details are still subject to change in the coming weeks.
3. Chunhou Fund temporarily announced that it responded to 8 fines: actively reported the rectification work in the past 6 months
Due to equity issues, the regulator recently disclosed eight previous fines against Chunhou Fund, involving the company, a number of executives and shareholders. Chunhou Fund issued a temporary announcement that it has been nearly 6 months since the above-mentioned administrative supervision measures were made, and during this period, the company has been actively reporting to the regulators on the rectification work in a timely manner. Furthermore. Chunhou Fund also said that the company's senior executives, investment research team and employees have been relatively stable and have no operational risks.
4. Involved in illegal stock speculation and practice negligence, more than 200 securities company employees were fined during the year
According to Yicai, recently, the China Securities Regulatory Commission (CSRC) has intensively announced a number of fines against employees of securities firms, and many employees of CICC and CICC Wealth have been fined for illegal stock speculation and lending accounts. In addition, Zhao Yuanjun, then an investment bank employee of Everbright Securities, was fined 4.6 million yuan for insider trading and banned from the market for 10 years. In addition to illegal stock speculation and insider trading, many employees of securities companies have been fined for illegal business development and failure to perform their duties diligently. As of September 17, since the beginning of this year, the China Securities Regulatory Commission has issued more than 120 fines involving employees of securities firms, involving more than 200 people, of which most of them have been fined for illegal stock speculation and insurance agency practice for failing to be diligent and conscientious.
5. The Anhui Financial Supervision Bureau issued a risk warning letter, directly pointing to the chronic disease of insurance companies infringing on citizens' information
The Anhui Supervision Bureau of the State Administration of Financial Supervision and Administration issued a document pointing out that the current problems such as weak legal awareness of insurance companies, especially grassroots institutions, will intensify the crackdown on insurance companies' infringement of citizens' information. In the past, most of these reminders and illegal cases occurred in the banking industry, and this is the first time this year that a local regulatory authority has publicly issued a "warning" to insurance companies.
Industry Warning //
1. Market Supervision Bureau of Hefei High-tech Zone: Filed a case for investigation of three sheep suspected of "misleading consumers" and other behaviors in the live broadcast
The Market Supervision and Administration Bureau of Hefei High-tech Zone issued a notice saying that recently, the "Hong Kong Meicheng moon cakes" live broadcast by Three Sheep Network Technology Co., Ltd. have attracted attention. Three Sheep Network Technology Co., Ltd. is suspected of "misleading consumers" and other behaviors in the live broadcast, and a case has been filed for investigation, and it will be dealt with in accordance with laws and regulations according to the results of the investigation. Our bureau and relevant departments have repeatedly interviewed and urged enterprises to standardize their business behaviors, and will resolutely investigate and deal with violations of laws and regulations in the live broadcast of enterprises.
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