Important News Alert
The Ministry of Finance plans to issue 2024 book-entry discount (63 issues) treasury bonds (182 days), with a total face value of 60 billion yuanMinistry of Commerce: The number of applications and purchases of household appliances nationwide exceeded 20 million and 10 million respectivelyTianjin: Cancellation of housing restrictive measures
Tip of the day
The State Council New Office held a press conference at 10 a.m. today to introduce the situation of promoting the stable and healthy development of the real estate market and answer questions from reporters in charge of the Ministry of Finance, the Ministry of Natural Resources, the People's Bank of China and the State Administration of Financial Supervision and Administration.
The Ministry of Commerce held a press conference today to introduce the recent key work in the field of commerce
The central bank has 150 billion yuan of 7-day reverse repurchase and 70 billion yuan of treasury cash fixed deposits due today
The 2024 World Intelligent Connected Vehicle Conference will be held in Beijing from October 17 to 19
The 2024 OPPO Developer Conference will be held in Hangzhou on October 17
Financial news
1. The website of the People's Bank of China reported on October 16 that with the approval of the State Council, the People's Bank of China and the State Bank of Pakistan recently renewed the bilateral local currency swap agreement, with a swap scale of 30 billion yuan/1,180 billion Pakistani rupees, the agreement is valid for three years and can be extended by mutual agreement. The renewal of the bilateral currency swap agreement between China and Pakistan will help strengthen financial cooperation between the two countries, expand the use of local currencies between China and Pakistan, and promote bilateral trade and investment facilitation.
2. According to the news of the State News Network on October 16, the Information Office of the State Council will hold a press conference at 10 a.m. on October 18 (Friday), inviting Sheng Laiyun, deputy director of the National Bureau of Statistics, to introduce the operation of the national economy in the first three quarters of 2024 and answer questions from reporters.
3. On October 16, according to the website of the Ministry of Finance, the Ministry of Finance plans to issue 2024 book-entry discount (63) treasury bonds (182 days), with a total face value of 60 billion yuan in competitive bidding for this treasury bond. The issuance price of the current treasury bonds is determined through competitive bidding, and the issuance is discounted at a price lower than the par amount. Interest will accrue on the current treasury bonds from October 24, 2024 and will be repaid at face value on April 24, 2025 (postponed accordingly on holidays). The tender for this issue of treasury bonds will be from 10:35 a.m. to 11:35 a.m. on October 23, 2024.
4. The website of the People's Bank of China reported on October 16 that recently, the People's Bank of China and the Ministry of Science and Technology jointly issued the "Notice on Doing a Good Job in Science and Technology Financial Services in Key Areas" to guide and promote Beijing, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area and other areas with intensive science and technology elements to do a good job in science and technology financial services.
5. According to the WeChat official account of the Ministry of Commerce on October 16, in August, the Ministry of Commerce and other 4 departments issued the "Notice on Further Doing a Good Job in Trade-in of Household Appliances", which subsidized consumers to purchase 8 types of household appliances with energy efficiency or water efficiency standards of level 2 and above. At present, the number of people applying for and purchasing household appliances for old and new ones has exceeded 20 million and 10 million respectively.
6. On 16 October, the Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, delivered the Chief Executive's 2024 Policy Address.
On further enhancing the securities market, the Policy Address clarifies that the listing of exchange-traded funds tracking Hong Kong stock indices in the Middle East will be implemented, and more large Mainland enterprises and international enterprises wishing to reach Mainland investors will be encouraged to list in Hong Kong, with a view to achieving more landmark public offerings in the short term.
7. On October 16, according to the website of the Ministry of Commerce, the Ministry of Commerce and other seven departments issued a notice on strengthening the supervision and management of the recycling of scrapped motor vehicles. It is mentioned that scrapped motor vehicle recycling enterprises are encouraged to carry out refined dismantling, implement digital transformation, give full play to the role of online trading platforms in connecting the industrial chain, expand the sales scale of scrapped motor vehicle reusable parts, and improve the profitability of enterprises. Guide recycling enterprises to standardize the dismantling business of new energy vehicles, and effectively meet the development needs of the new energy vehicle industry.
8. On October 16, the WeChat public account of "Tianjin Housing and Construction" issued a document stating that a few days ago, Tianjin Municipality issued the "Notice of the General Office of the Tianjin Municipal People's Government on Further Optimizing the Real Estate Policy and Other Six Departments on Further Optimizing the Real Estate Policy to Better Meet the Reasonable Housing Needs of Residents", canceling restrictive housing measures, implementing national financial support policies, accelerating the construction of a new model of real estate development, better meeting the needs of residents for rigid and diversified improved housing, and promoting the stable and healthy development of the real estate market.
Company News
1. Performance of listed companies
Zhejiang Xiantong: net profit of 129 million yuan in the first three quarters, a year-on-year increase of 33.24%
Chinese Life: net profit in the first three quarters is expected to increase by 165%-185% year-on-year
Pathfinder: net profit in the first three quarters increased by 107.23%-133.27% year-on-year
Feirongda: net profit in the first three quarters increased by 109.74%-124% year-on-year
Nopson: net profit in the first three quarters is expected to increase by 60%-80% year-on-year
Tiancheng Technology: net profit in the first three quarters increased by 34.45%-39.26% year-on-year
Southern Power Grid Energy Storage: Net profit in the first three quarters increased by 27.62% year-on-year
Milkyway: net profit in the third quarter increased by 19.88% year-on-year
Topway Information: Net profit in the first three quarters decreased by 84.85% year-on-year
2. Repurchase and increase of holdings of listed companies
China Merchants Shekou: It is planned to repurchase the company's shares for 351 million yuan to 702 million yuan
China Merchants Highway: It is planned to repurchase the company's shares for 310 million yuan to 618 million yuan
Sinotrans: plans to repurchase the company's shares for 271 million yuan to 542 million yuan
Investment surplus: It is planned to repurchase the company's shares from 78 million yuan to 156 million yuan
Laier Technology: It is planned to repurchase the company's shares for 25 million yuan to 40 million yuan
Cathay Biotech: The controlling shareholder proposed to repurchase the company's shares for 10 million yuan to 20 million yuan
Taihe New Materials: The controlling shareholder acting in concert intends to increase his holdings by 1.19%-2%.
3. Penghui Energy: On the evening of October 16, the company plans to build a new project with a daily production capacity of 30,000 small power square aluminum shell lithium-ion batteries and a daily production capacity of 500,000 capacitive lithium-ion batteries in Zhengyang County, Zhumadian City, with a total planned investment of 1 billion yuan.
4. XGIMI Technology: On the evening of October 16, it was announced that Yibin XGIMI Optoelectronics Co., Ltd., a wholly-owned subsidiary of the company, recently received a fixed-point notice from Beijing New Energy Automobile Co., Ltd. that Yibin XGIMI will become the designated supplier of BAIC New Energy's on-board projectors and screen assemblies, providing intelligent cockpit display products for its new models. In addition to BAIC, Yibin XGIMI recently received a notice from another well-known domestic automobile industry chain enterprise of the scheduled point, and the official fixed-point notice still needs to be approved by the company's supplier system, which is uncertain.
5. XCMG Machinery: announced on the evening of October 16 that in order to optimize the asset structure and improve the operating efficiency of assets, the company plans to issue asset securitization projects with a total amount of no more than 20 billion yuan (inclusive) (including 10 billion yuan of the Shenzhen Stock Exchange's market asset-backed special plan and 10 billion yuan of interbank market asset-backed notes).
6. 3 board Furi Electronics: announced on the evening of October 16, investors have recently paid attention to whether the company is OEM Huawei Mate70 high-end flagship model series, and after verification by the company, the company's wholly-owned subsidiary Zhongnuo Communication has not OEM Huawei Mate70 high-end flagship model series.
7. 10 days and 7 boards Everbright Jiabao: On the evening of October 16, the company's stock trading on October 15 and October 16 for two consecutive trading days The deviation of the closing price increase exceeded 20%, which is an abnormal fluctuation in stock trading.
According to the company's self-inspection, the company's main business is real estate development, real estate asset management and real estate investment business, and there has been no major adjustment. After verification by the company, the company has not been involved in the concept of market hotspots in the near future. The actual controller of the company is China Everbright Group Co., Ltd., and Everbright Jinou Asset Management Co., Ltd., a subsidiary of Everbright Group, is mainly engaged in the acquisition and disposal of special assets. Up to now, the Company and the enterprises under management have no substantive business cooperation with Everbright Jinou.
8. Fuld: On the evening of October 16, the company announced that the company intends to issue shares and convertible corporate bonds to 59 counterparties such as Shanghai Shenhe to purchase 100% of the shares of Jiangsu Fuler Semiconductor Technology Co., Ltd. held by it, and intends to issue shares to no more than 35 specific investors to raise matching funds. This transaction is expected to constitute a major asset restructuring, a related party transaction, and not a restructuring and listing. Upon application, the company's shares will resume trading from the opening of the market on October 17 (Thursday).
9. Songfa shares: On the evening of October 16, the company announced that the company intends to purchase 100% of the shares of Hengli Heavy Industry held by the counterparty by means of major asset replacement and issuance of shares to purchase assets, and issue shares to no more than 35 specific investors to raise matching funds. Hengli Heavy Industry Co., Ltd. is mainly engaged in the research and development, production and sales of ships and high-end equipment, through this transaction, the company will strategically withdraw from the daily ceramic products manufacturing industry, and the main business in the future is the research and development, production and sales of ships and high-end equipment. The company's shares will resume trading from the market open on Thursday, October 17.
Selected Research Reports
China Galaxy Securities Research Report said that a package of incremental policies was introduced to increase counter-cyclical adjustment. Local government debt risks have been strengthened, and banks have benefited from the liquidation of non-performing assets and the improvement of local economic fundamentals in the long run. Special treasury bonds will be issued to supplement the capital of major state-owned banks, and enhance the credit supply and risk resistance capabilities of major banks. The optimization of real estate policies will further accelerate the destocking of commercial housing, improve the liquidity of real estate enterprises, and help optimize the asset quality of banks. Continue to be optimistic about the value of the allocation of the banking sector.
The CITIC Securities research report pointed out that compared with the existing electric vehicle charging solutions, the core advantage of wireless charging lies in the high level of intelligence and automation, which can greatly improve the user's charging experience, and is highly compatible with scenarios such as automatic driving and unmanned garages. With the development of intelligent application scenarios and the improvement of the supply chain, the follow-up cost reduction path of wireless charging equipment is clear, or a certain substitution will be formed in the home AC charging pile market.