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The Ministry of Commerce held a roundtable meeting for foreign-invested enterprises to interpret the policy of large-scale equipment renewal and consumer goods trade-in

On July 17, Ling Ji, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, hosted a roundtable meeting for foreign-invested enterprises to interpret the large-scale equipment renewal and consumer goods trade-in policy. Representatives of foreign-invested enterprises such as Albemarle, Bio-Rad Life Sciences, Eni, Ford, GE Healthcare, Philips, and Siemens Healthcare, and representatives of foreign business associations in China such as the American Chamber of Commerce in China, the European Union Chamber of Commerce in China, the Korea Chamber of Commerce in China, and the Japan Chamber of Commerce in China attended the meeting and spoke.

Ling Ji said that China will unswervingly promote high-level opening up, optimize the business environment, and equally support domestic and foreign-funded enterprises to participate in large-scale equipment renewal and consumer goods replacement, as well as related government procurement and project investment. It is hoped that foreign-funded enterprises will seize the opportunity, deepen their presence in the Chinese market, and increase their investment in China.

Ministry of Finance: Enterprises can deduct 10% of their tax payable for the current year from their investment in digital and intelligent transformation of special equipment in the next three years if it does not exceed 50% of the original tax base

The Ministry of Finance announced that the corporate income tax policy for the digital and intelligent transformation of special equipment for energy conservation, water conservation, environmental protection and safe production is as follows: The investment in the digital and intelligent transformation of special equipment made by enterprises between January 1, 2024 and December 31, 2027, which does not exceed 50% of the original tax base when the special equipment was purchased, can be deducted from the enterprise's tax payable in the current year at a rate of 10%. If the enterprise's tax payable in the current year is insufficient to be deducted, it can be carried forward to subsequent years, but the maximum carry-forward period shall not exceed 5 years.

Hangzhou: Build "China Data Valley" with high standards, aiming to establish more than 15 high-quality data sets by the end of 2026

The General Office of the Hangzhou Municipal People's Government issued the "Implementation Opinions on High-standard Construction of "China Digital Valley" to Promote the Circulation of Data Elements", which clearly stated that the reform of market-oriented allocation of data elements should be carried out with "China Digital Valley" as the carrier, Hangzhou High-tech Development Zone (Binjiang) as the "core area", and Hangzhou Data Exchange as the circulation and trading hub; coordinated development and security, based on systems and facilities, and resources, markets, and ecology as the path to fully activate the potential of data elements. By the end of 2026, more than 15 high-quality data sets will be established, more than 20 public data authorization operation scenarios will be promoted, more than 700 digital businesses will be gathered, more than 1,000 data products and services will be listed, the cumulative transaction volume will exceed 10 billion yuan, and more than 3 data element industry public service demonstration platforms will be built.

Taizhou encourages state-owned enterprises to invest in listed companies and companies planning to go public.

On July 17, the Taizhou State-owned Assets Supervision and Administration Commission recently issued the "Opinions on Accelerating the High-quality Development of Taizhou State-owned Assets and State-owned Enterprises" (hereinafter referred to as the "Opinions").

The "Opinion" clearly states that we should continue to deepen the reform of state-owned assets and state-owned enterprises, accelerate the construction of a more mature and standardized state-owned assets supervision system that focuses on capital management, promote the organic integration of projects and industries, mutual promotion of guarantees and transformation, and integrated optimization of operations and management, further enhance the functional value and economic value creation capabilities of state-owned enterprises, promote the organic unity of economic attributes, political attributes, and social attributes at a high level, strive to achieve effective improvement in the quality and reasonable growth in the quantity of the state-owned economy through "steady progress and establishment", and contribute greater state-owned assets and state-owned enterprise strength to the overall economic and social development of Taizhou City.

Domestic large amphibious aircraft AG600 completes high temperature and high humidity test

Recently, my country's independently developed large amphibious aircraft AG600 completed a high temperature and high humidity flight test. The test was conducted in Nanchang, Jiangxi, and was divided into two stages: "exposure to the aircraft" and "testing the system". On the day of the test, the AG600 aircraft was first exposed to the sun for more than 5 hours in an environment with an average temperature of more than 35°C and an average humidity of more than 44%. The aircraft then took off as planned, climbed to a predetermined altitude, and continued to complete a series of routine maneuvers, with a flight time of more than 2.5 hours. High temperature and high humidity flight test is an important subject in the AG600 model certification flight test project, which verifies the system functions and performance of the aircraft under harsh environmental conditions of high temperature and high humidity.

"Wood Sister": Robotaxi will become a major catalyst, causing Tesla's stock price to soar 10 times

Cathie Wood, founder of Ark Funds, said that Tesla's (TSLA.O) self-driving taxi platform will be a catalyst to drive its stock price up about 10 times, repeating her bullish view on Tesla's business for many years. Wood described the self-driving taxi ecosystem as an "8 trillion to 10 trillion US dollars global revenue opportunity" and believed that platform providers including Tesla will be able to obtain up to half of it.

According to Bloomberg, Cathie Wood said that investors are shifting from viewing Tesla purely as an electric car manufacturer to pricing in the potential of self-driving taxis. She said, "The self-driving taxi platform is the largest artificial intelligence project today," adding, "Ark's valuation of Tesla is primarily based on its self-driving potential. If we are right, Tesla's stock still has a long way to go."

Huawei Pura 70 series mobile phone shipments increased by 125% compared with P60 series

It is reported that since the Pura70 series started selling under the Pioneer Plan on April 18, as of July 16, Huawei's Pura70 series shipments have increased by 125% compared with the P60 series in the same period.

company news

Guanghui Auto: The company's shares and convertible bonds will be suspended from July 18, 2024

Guanghui Auto announced that the company's stocks and convertible bonds will be suspended from July 18, 2024, because the closing price of the company's stocks has been below 1 yuan for 20 consecutive trading days, which has triggered the trading delisting conditions. At the same time, the company's convertible bonds "Guanghui Convertible Bonds" have also been suspended from July 18, and conversion has been suspended. The Shanghai Stock Exchange will issue a prior notice of delisting to the company within 5 trading days, and the company can request a hearing, statement and defense.

Chongqing Iron and Steel: Huabao Investment Co., Ltd. plans to increase its holdings of 150 million to 300 million yuan of company shares

Chongqing Steel stated that Huabao Investment Co., Ltd., a wholly-owned subsidiary of China Baowu Steel Group, the company's actual controller, plans to increase its holdings of the company's A shares through centralized bidding transactions with its own funds within 12 months from the date of disclosure of the announcement. The lower limit of the increase is RMB 150 million, the upper limit is RMB 300 million, and the upper limit of the increase price is not higher than RMB 2.00 per share.

Shunfa Hengye: Plans to invest 2.342 billion yuan to build the Innovation Energy City Energy Center project

Shunfa Hengye announced that the company plans to invest 2.342 billion yuan to build the Innovation Energy City Energy Center project. The project uses a gas turbine combined cycle and will supply electricity and heat to the Innovation Energy City in the Jiangnan Science and Technology City area of ​​Xiaoshan after completion, improving the level of regional energy utilization and reducing carbon emissions.

Dunhuang Seed Industry: The controlling shareholder was changed to Jiugang Group, and the actual controller was changed to Gansu State-owned Assets Supervision and Administration Commission

Dunhuang Seed Industry Co., Ltd. announced that the company received the "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Co., Ltd. on July 17, 2024. The 58.2166 million shares of Dunhuang Seed Industry Co., Ltd. held by the Jiuquan Municipal Government State-owned Assets Supervision and Administration Commission were transferred to Jiugang Group free of charge on July 16, 2024, completing the transfer registration procedures. After the completion of this share transfer registration, Jiugang Group holds 58.2166 million shares of the company, accounting for 11.03% of the company's total share capital. The company's controlling shareholder has changed from the Jiuquan Municipal Government State-owned Assets Supervision and Administration Commission to Jiugang Group, and the actual controller has changed from the Jiuquan Municipal Government State-owned Assets Supervision and Administration Commission to the State-owned Assets Supervision and Administration Commission of the People's Government of Gansu Province.

CNOOC: Planned annual dividend payout ratio of no less than 40% in 2024

CNOOC announced that the company has formulated an action plan for "improving quality, increasing efficiency and focusing on returns" for 2024, planning a full-year dividend payout ratio of no less than 40%, and a full-year dividend of no less than HK$0.70 per share (tax inclusive). The company will maintain the continuity and stability of its shareholder return policy based on a comprehensive consideration of future earnings, capital requirements, financial status, future prospects and other factors, and provide shareholders with competitive dividend returns.

Xinhecheng: Plans to invest 10 billion yuan in nylon new material project

Xinhecheng announced that it plans to invest in the construction of a nylon new material project in Tianjin Nangang Industrial Zone, with a total investment of about 10 billion yuan. The first phase of the project plans to invest about 3 billion yuan, using the company's independently developed technology to build a 100,000 tons/year adiponitrile-hexamethylenediamine project; after the first phase of the project is put into production, the second phase of the project will be launched. The second phase of the project plans to invest about 7 billion yuan, planning to build 400,000 tons/year adiponitrile-hexamethylenediamine, and extend to the downstream material end to build a 400,000 tons/year nylon 66 project.

Tianfu Communication: Net profit in the first half of the year is expected to increase by 167%-187% year-on-year

Tianfu Communication announced that its net profit in the first half of 2024 is expected to be 630 million to 677 million yuan, a year-on-year increase of 167% to 187%. The performance growth is mainly due to the development of artificial intelligence (AI) technology and the increase in computing power demand, which has driven the continued growth in demand for high-speed optical device products in global data center construction.

VEICHUAN Electric: The actual controller proposed a 2024 interim dividend

WeiChuang Electric announced that the company has received a proposal from Mr. Hu Zhiyong, the actual controller and chairman, to implement the 2024 interim dividend under relevant conditions, with a cash dividend of 1.42 yuan (including tax) per 10 shares based on the company's total share capital. The company will evaluate the proposal and fulfill its information disclosure obligations, and strive to return investors' trust through good performance and investor returns.

Source: Xinhua News Agency, CCTV News, Ministry of Finance, China Securities Journal, etc.

Statement: All information content of Databao does not constitute investment advice. The stock market is risky and investment should be cautious.

Editor: He Yu

Proofreading: Yang Lilin

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