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【News Review】

1. Foreign Ministry Spokesperson on Former U.S. PresidentTrumpThe Ministry of Foreign Affairs said that China is concerned about the shooting of former President Trump, and President Xi Jinping has expressed condolences to former President Trump.

2. According to data released by the central bank, preliminary statistics show that the cumulative increase in social financing scale in the first half of 2024 was 18.1 trillion yuan, 3.45 trillion yuan less than the same period last year. RMB loans increased by 13.27 trillion yuan in the first half of the year. RMB deposits increased by 11.46 trillion yuan in the first half of the year. At the end of June, the balance of broad money (M2) was 305.02 trillion yuan, a year-on-year increase of 6.2%.

3. The Ministry of Commerce, the People's Bank of China, the State Administration of Financial Supervision and the State Administration of Foreign Exchange jointly issued the "Opinions on Strengthening Business and Financial Coordination to Support the High-quality Development of Cross-border Trade and Investment". The "Opinions" focus on stabilizing foreign trade, stabilizing foreign investment, deepening the "Belt and Road" economic and trade cooperation and outward investment cooperation and other key areas and promoting financing, preventing risks, and improving services. 11 policy measures in five aspects are proposed. These include promoting the quality and quantity of foreign trade and optimizing comprehensive financial services for foreign trade.

4. The central bank announced on July 1 that it will launch a pilot program for some primary dealers in the near future.National DebtBorrowing operations and the central bank's selling of treasury bonds are being implemented. In this regard, authoritative experts said that the central bank's treasury bond trading is positioned as a channel for the release of base currency and a liquidity management tool, and is definitely not intended to engage in quantitative easing.

5. Sources told the media last Friday that Germany will take measures to regulate Chinese electric vehicles on the 15th.carThe EU does not need the support of EU member states to impose a temporary tariff of up to 37.6% on electric vehicles imported from China, but if a majority of the 27 EU member states vote against it, the tariff plan may eventually be blocked.

【Industry Hotspots】

1. On July 14, the Shanghai Stock Exchange issued an announcement that the Shanghai Stock Exchange and China Securities Index Co., Ltd. will officially release the Shanghai Stock Exchange Science and Technology Innovation Board Chip Design Theme Index and the Shanghai Stock Exchange Science and Technology Innovation Board Semiconductor Materials and Equipment Theme Index on July 26, 2024, providing the market with more investment targets in the Science and Technology Innovation Board semiconductor industry.

2. According to the 385th batch of new products announced in the Announcement of Road Motor Vehicle Manufacturers and Products on the official website of the Ministry of Industry and Information Technology, four "Xiaomi" pure electric cars appeared. It is worth noting that its company name is "Xiaomi Automobile Technology Co., Ltd." This means that Xiaomi Automobile has obtained independent car manufacturing qualifications, and its manufacturer name has also been changed from BAIC to Xiaomi.

3. The Ministry of Industry and Information Technology issued a notice on the selection of pilot cities for large-scale application of Beidou in the field of industry and information technology. The notice requires accelerating the penetration rate of Beidou and promoting the orderly upgrading of Beidou equipment and applications to Beidou III. Beidou applications should be carried out in the mass consumer field in a step-by-step manner by region, and a dynamic supervision and feedback mechanism should be established to continuously track and improve product performance and continuously improve user experience.

4. Recently, the Central Cyberspace Affairs Commission issued a special notice to deploy a two-month special campaign across the country called "Clear and Bright 2024 Summer Internet Environment for Minors". This special campaign will focus on rectifying prominent issues in short videos, live broadcast platforms, social platforms, e-commerce platforms, app stores, children's smart devices, and minors' modes.

5. The 2024 China Automotive Forum was held in Shanghai from July 11 to 13, with the theme of "Leading New Changes and Winning a New Future". Luo Daojun, senior vice president of the Components and Materials Research Institute of the Fifth Institute of Electronics of the Ministry of Industry and Information Technology, said that China has the largest production capacity of new energy vehicles and the usage is increasing. However, the self-sufficiency rate of chips is indeed less than 10% at present, which is a structural shortage. He suggested that companies that make parking chips should try to move to the high end, as the low end is now starting to lose volume.

6. Regarding the rumors that BMW China will withdraw from the price war, BMW China said that in the second half of the year, BMW will focus on business quality in the Chinese market and support dealers to make steady progress. Recently, a blogger said on a social media platform that due to the price war, the stores suffered serious losses. Starting from July, BMW will reduce sales to stabilize prices and ease the operating pressure of stores.

7. The Henan Provincial Development and Reform Commission recently issued the "Implementation Plan for Promoting the High-quality Development of the Province's Low-altitude Economy (2024-2027)". The "Plan" proposes that by 2027, about 20 general airports and transport airports with general aviation service functions will be built, the scale of the low-altitude economy will reach 50 billion yuan, and the number of enterprises above designated size will reach about 60.

【Topic Company】

1. Chuangshi Technology announced that the company's director and deputy general manager had been detained.

2. Shanggong Shenbei announced that it has paid the full transaction price to ICON, a US company, and simultaneously received relevant valid assets.

3、JD.comParty A announced that it expects its net profit in the first half of the year to increase by 185%-213% year-on-year.

4. Guanghui Auto released its performance forecast, expecting a net loss of 583 million to 699 million yuan in the first half of the year, and signed a "Strategic Cooperation Agreement" with Zhongjun Technology.

5. Shanghai Electric Co., Ltd. announced that its net profit in the first half of the year is expected to increase by 119%-135% year-on-year.

6. Longi Green Energy announced that it plans to invest 3.206 billion yuan to build a 12.5GW high-efficiency BC battery project.

7. China Duty Free Group released its performance report, with net profit attributable to shareholders of the parent company in the first half of the year down 14.94% year-on-year.

8. Northern Copper announced that its net profit in the first half of the year is expected to increase by 41%-51% year-on-year.

9. Luoyang Molybdenum Co., Ltd. announced that its net profit in the first half of the year is expected to increase by 638%-716% year-on-year.

10. Jiejie Microelectric announced that it expects net profit of 197 million yuan to 226 million yuan in the first half of 2024, a year-on-year increase of 105% to 135%.

11. Sungrow Power Supply announced that the company plans to repurchase shares through centralized bidding transactions. The total amount of funds to be repurchased shall not be less than 500 million yuan and not more than 1 billion yuan. The repurchase price shall not exceed 97 yuan per share. The repurchased shares will be implemented in the future through employee stock ownership plans orEquityIncentive program.

12. Goertek announced that its net profit in the first half of the year is expected to be 1.181 billion yuan to 1.265 billion yuan, a year-on-year increase of 180% to 200%.

13. On the interactive platform on the 13th, Haun Auto & Electric stated that it has reached a supporting cooperation with Luobo Kuaipao on products such as automatic parking and ultrasonic radar, which will be mass-produced this year.

【Stock Market Dynamics】

1. On the afternoon of the 13th local time, when former US President Trump was giving a speech at a campaign rally in Pennsylvania, gunshots were heard. Trump then evacuated the podium under the protection of the Secret Service. At that time, there were clear bloodstains on the right side of his face and near his right ear. According to the Trump campaign team, after being examined by a local medical institution, Trump is currently in a safe and stable condition.

2. Last Friday, the three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 0.62%, and its cumulative increase last week was 1.59%; the Nasdaq rose 0.63%, and its cumulative increase last week was 0.25%; the S&P 500 rose 0.55%, and its cumulative increase last week was 0.87%.

3. According to people familiar with the matter and internal documents reviewed by the media, ChatGPT developer OpenAI is developing a new artificial intelligence model in a project code-named "Strawberry". The details of the project have never been reported before, and the company is currently working to demonstrate that the type of model it provides can provide advanced reasoning capabilities.

【Notice】

【Taste of the Events】

Huadong Medicine: Subsidiary signs exclusive product licensing agreement with Ausbio

Huadong Medicine announced that its wholly-owned subsidiary Sino-US Huadong has signed an exclusive product license agreement with Suzhou Aozhong Biotechnology Co., Ltd. ("Aozhong Biotechnology"). Sino-US Huadong has obtained the exclusive license for all indications of Aozhong Biotechnology's TTYP01 tablets (edaravone tablets) in mainland China, Hong Kong, Macau and Taiwan, including development, registration, production and commercialization rights. Sino-US Huadong will pay Aozhong Biotechnology a down payment of 100 million yuan, a maximum of 1.185 billion yuan in development, registration and sales milestone payments, and a tiered net sales commission of up to double digits. TTYP01 tablets are an improved new drug independently developed by Aozhong Biotechnology, and the domestic clinical phase III study for the indication of acute ischemic stroke has been completed.

Fuchuang Precision: Planning to acquire 100% equity of Yisheng Precision

Fuchuang Precision announced that the company intends to purchase 100% equity of Beijing Yisheng Precision Semiconductor Co., Ltd. (hereinafter referred to as "Yisheng Precision") from eight counterparties, including Zheng Guangwen, the actual controller of the company, Shenyang Xianjin, the largest shareholder of the company, Beijing Yixin, Liaoning Zhongde Fund, Ruan Yanfeng, Tianjin Xinsheng, Zhongtai Fuli, and Hesheng Zhongfu Fund, in cash. After the transaction is completed, Yisheng Precision will become a wholly-owned subsidiary of the company. According to preliminary calculations, the transaction amount is expected to be no more than 800 million yuan. This transaction is in line with the company's strategic positioning of building a semiconductor component platform.

Transsion Holdings: Controlling shareholder proposes to implement 2024 interim dividend

Transsion Holdings announced that the company received a letter from its controlling shareholder Transsion Investment proposing a 2024 interim dividend, proposing that the company implement a 2024 interim dividend under relevant conditions, and the dividend ratio shall not be less than 50% of the net profit attributable to the parent company in the first half of 2024. The specific profit distribution plan will be determined by the company based on its own operating conditions and after deliberation by the board of directors and shareholders' meeting. Transsion Investment promised to vote in favor of the matter when the relevant meeting is held.

XuanTai Pharmaceutical: The controlling shareholder proposes to implement the 2024 interim dividend

XuanTai Pharmaceutical announced that the company has received a letter from its controlling shareholder, Shanghai Lianhe Investment Co., Ltd., proposing that the company implement interim dividends for 2024. Lianhe Investment now proposes that the company formulate and implement the company's 2024 interim dividends as soon as possible based on its actual operating conditions.

Andeli: The assets won by its subsidiary Fuxian will further expand the scale of the industry

Andeli announced that its wholly-owned subsidiary Yan'an Andeli won the bid for the state-owned construction land use rights and above-ground buildings of Fuxian Hengxing in Jiziwan Village, Chafang Town, Fuxian County, Yan'an City, Shaanxi Province for approximately RMB 43.5919 million on July 13. Fuxian County is one of the most important apple producing areas in Yan'an City. The company participated in the auction mainly to consolidate the development of its main business, increase the production and sales of concentrated juice, and optimize the industrial layout. After winning the target assets, the company further expanded its industrial scale, and the number of production bases increased from 9 to 10, respectively in Shandong, Shaanxi, Shanxi, Liaoning, Jiangsu, Sichuan, and Xinjiang.

Zhuhai Guanyu: Received a designated notice from a leading German automaker

Zhuhai Guanyu announced that the company recently received a designated supplier notice from a leading German automaker. The customer selected the company as its designated supplier to develop and supply 12V automotive low-voltage lithium batteries for it.

Xidiwei: Subsidiary plans to acquire 30.91% equity of Zinitix

Xidiwei announced that its second-level wholly-owned subsidiary HMI intends to acquire a total of 30.91% of the equity of Zinitix Co., Ltd. (hereinafter referred to as "Zinitix") for 21.005 billion won (equivalent to about 109 million yuan). After the transaction is completed, HMI will hold 30.93% of the equity of Zinitix, becoming the largest shareholder of Zinitix and able to dominate its board of directors. It will also appoint senior management personnel such as the chief financial officer to have decision-making power over its operations, personnel, finance and other matters. Zinitix will become a holding subsidiary of the company. The company and Zinitix are both integrated circuit design companies. Through this transaction, the company can quickly expand its product categories, especially the touch chip product line, thereby broadening its technology and product layout in areas such as mobile phones and wearable devices.

Shanghai Airport: Pudong International Airport passenger throughput in June increased by 31.58% year-on-year

Shanghai Airport announced that in June, Pudong International Airport had 42,409 aircraft takeoffs and landings, a year-on-year increase of 15.55% and 6.2711 million passengers, a year-on-year increase of 31.58%. Hongqiao International Airport had 21,677 aircraft takeoffs and landings, a year-on-year decrease of 2.84% and 3.8849 million passengers, a year-on-year increase of 6.02%.

Sungrow Power Supply: Plans to repurchase company shares for RMB 500 million to RMB 1 billion

Sungrow Power Supply announced that the company plans to repurchase shares through centralized bidding transactions. The total amount of repurchase funds will be no less than 500 million yuan and no more than 1 billion yuan. The repurchase price will not exceed 97 yuan per share. The repurchased shares will be implemented in the future as an employee stock ownership plan or equity incentive plan.

【Performance】

Wen's shares: half-year net profit is expected to be 1.25 billion yuan to 1.5 billion yuan, compared with a loss of 4.689 billion yuan in the same period last year

Amway shares: Net profit in the first half of the year is expected to be 88 million to 98 million yuan, a year-on-year increase of 9348.14% to 10421.8%

Wencan Holdings: Net profit is expected to reach RMB 70 million to RMB 90 million in the first half of the year, a year-on-year increase of 403.21% to 546.99%

Polylite: Net profit in the first half of the year was approximately RMB 95 million, a year-on-year increase of approximately 436%

Zhongji Xuchuan: Net profit in the first half of the year is expected to be 2.15 billion yuan to 2.5 billion yuan, a year-on-year increase of 250.3% to 307.33%

Goertek: Net profit in the first half of the year is expected to be 1.181 billion yuan to 1.265 billion yuan, a year-on-year increase of 180% to 200%

Hengxuan Technology: Net profit in the first half of the year was about 148 million yuan, a year-on-year increase of about 199.68%

Han's Laser: Net profit in the first half of the year is expected to be 1.21 billion to 1.26 billion yuan, a year-on-year increase of 181.34% to 192.97%

Innotech: It is expected to achieve a net profit of approximately RMB 206 million in the first half of 2024, a year-on-year increase of approximately 166.11%

Langte Intelligence: Net profit is expected to reach RMB 75 million to RMB 85 million in the first half of the year, a year-on-year increase of 143.89% to 176.41%

Lianke Technology: Net profit in the first half of the year is expected to be 120 million to 128 million yuan, a year-on-year increase of 101.54% to 114.98%

Taihua New Materials: Net profit is expected to reach 400 million to 460 million yuan in the first half of the year, a year-on-year increase of 118.45% to 151.21%

Tiandeyu: Net profit in the first half of the year was 102 million yuan, a year-on-year increase of 118.14%

Zhongtong Bus: Net profit in the first half of the year is expected to be 98 million to 119 million yuan, a year-on-year increase of 90% to 130%

Sichuan Gold: Net profit is expected to reach 140 million to 150 million yuan in the first half of the year, a year-on-year increase of 51.14% to 61.94%

Jinchengxin: Net profit in the first half of the year is expected to be 600 million to 630 million yuan, a year-on-year increase of 49.12% to 56.57%

Changying Precision: Expected profit of 370 million to 450 million yuan in the first half of the year, turning losses into profits year-on-year

Allwinner Technology: Expected profit of 112 million to 128 million yuan in the first half of the year, turning losses into profits year-on-year

Tianyue Advanced: Expected profit of 100 million to 110 million yuan in the first half of the year, turning losses into profits

Tongyou Technology: Expected profit of 40 million to 52 million yuan in the first half of the year, turning losses into profits year-on-year

Guangyang shares: expected profit of 30 million to 45 million yuan in the first half of the year, turning losses into profits year-on-year

Yingboer: Net profit of 34.7154 million yuan in the first half of the year, turning losses into profits year-on-year

Zhaoxin shares: expected profit of 2 million to 3 million yuan in the first half of the year, turning losses into profits year-on-year