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1. Important Information

1. The Ministry of Finance plans to issue the 2024 Ultra-Long-Term Special Treasury Bond (Fourth Phase) (30-year term) on July 24. This phase of treasury bonds is a 30-year fixed-rate interest-bearing bond with a total competitive bidding face value of 55 billion yuan. No additional bidding will be conducted by Class A members, and the coupon rate will be determined through competitive bidding. This phase of treasury bonds will start to accrue interest from July 25, 2024, and interest will be paid every six months.

2. The Ministry of Finance announced that the investment in 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 for the deduction, it can be carried forward to the next year, but the maximum carry-forward period shall not exceed five years.

3. From January to May 2024, China's cumulative energy storage battery exports reached 8.4GWh, a year-on-year increase of 50.1%, which is much higher than the 2.9% growth rate of power batteries in the same period. In particular, in May, the export volume of energy storage batteries reached 4GWh, a year-on-year increase of 664%. China's energy storage battery exports have clearly reached a peak period.

4. With the rapid development of artificial intelligence and multimodal large models, the demand for computing power has increased dramatically. It can be seen that the domestic computing power chain represented by domestic computing power chip companies such as Huawei, Haiguang, and Cambrian has begun to move forward steadily. In 2022, the scale of my country's AI chip market reached 85 billion yuan. According to the forecast of China Business Industry Research Institute, the scale of China's AI chip market will grow to 230.2 billion yuan in 2024. Dongwu Securities Research Report pointed out that investment in the industrial chain direction of advanced processes is expected to continue to increase, and it is expected to focus on investment in the field of domestic AI chips, bringing broader development prospects to the AI ​​chip industry.

2. Zhejiang News

1. 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". The "Opinions" clearly stated that the capital empowerment "Spark Plan" should be implemented. The "National Progress" action should be implemented in depth, focusing on the development of the main business and industrial chain, encouraging state-owned enterprises to introduce strategic investors with high matching, high identification and high synergy, and encouraging state-owned enterprises to invest in listed companies, companies to be listed, high-tech enterprises, etc., to promote the efficient operation and circular value-added of state-owned capital.

2. The main production indicators of Zhejiang ports in the first half of this year were released: the province's coastal and inland ports completed a total cargo throughput of 1.04 billion tons, a year-on-year increase of 3.95%; container throughput exceeded 23.05 million TEUs, a year-on-year increase of 8.86%. Among them, the container throughput of inland ports increased by 18.29% year-on-year.

3. In Zhejiang, a major manufacturing province, the province's exports of sports goods and equipment exceeded 10 billion yuan from January to April this year, up 24.8%, accounting for a quarter of the total value of similar goods exported nationwide. As the "world supermarket", Yiwu has received continuous orders for various Olympic sports goods and Olympic peripheral products such as cheering scarves and cheering sticks. Statistics from the Paris Olympic Organizing Committee show that 80% of the Paris Olympic mascots are made in China, most of which are produced in Yiwu.

4. Recently, the Civil Affairs Department of Zhejiang Province issued the Implementation Plan for the Elderly Care Service "Love Card", which clearly stated that the elderly care service "Love Card" will be fully implemented. By the end of 2024, all counties (cities and districts) will implement the elderly care service "Love Card" system, and the number of elderly people with "Love Cards" will reach 2 million. By the end of 2027, the "Love Card" will be universal across the province.

3. Good news

Chongqing Iron and Steel:Huabao Investment Co., Ltd., a wholly-owned subsidiary of China Baowu Steel Group, the actual controller, plans to increase its holdings of the company's A shares through centralized bidding transactions within 12 months. The upper limit of the increase is 300 million yuan, the lower limit of the increase is 150 million yuan, and the upper limit of the increase price is not higher than 2 yuan per share.

Sinopec Petroleum:The chairman or the company he controls intends to increase its shareholding by 50 million to 100 million yuan.

Jufei Optoelectronics:The company released its performance forecast on July 17, predicting a net profit of 130 million yuan to 153 million yuan in the first half of the year, a year-on-year increase of 10% to 30%.

Tianfu Communications:The company released its performance forecast on July 17, predicting a net profit of 630 million yuan to 680 million yuan in the first half of the year, a year-on-year increase of 167% to 187%.

Fuchuang Precision:The company released its performance forecast on July 17, predicting a net profit of 115 million yuan to 135 million yuan in the first half of the year, a year-on-year increase of 20% to 41%.

Jiete Bio:On July 17, the company released its earnings forecast, predicting a net profit of 30.5 million yuan in the first half of the year, a year-on-year increase of 929.77%. The company's net profit in the same period last year was 2.9618 million yuan.

CSSC Special Gas:Signed a RMB 115 million contract for the sale of nitrogen trifluoride.

Golden Shield Shares:We reached an agreement with Tsinghua University on cooperating to complete the research and development project of the ducted fan and propulsion system of the flying car, and the two parties signed a "Technology Development Contract".

4. Bad news

Taiyong Long March:The company's controlling shareholder, Taiyong Technology, plans to reduce its holdings by no more than 4,463,800 shares, accounting for 2.00% of the company's total share capital, through centralized bidding and block trading within three months after 15 trading days from the date of disclosure of the announcement. Director and Deputy General Manager Sheng Liping plans to reduce his holdings by no more than 90,800 shares, accounting for 0.04% of the company's total share capital. Supervisory Board Chairman Cai Jiansheng plans to reduce his holdings by no more than 36,200 shares, accounting for 0.02% of the company's total share capital.

HXS Technology:Yixing Silicon Valley, a wholly-owned subsidiary, received the "Administrative Penalty Decision of Wuxi Ecological Environment Bureau". Wuxi Ecological Environment Bureau, together with the environmental protection department of Yixing Economic Development Zone, inspected Yixing Silicon Valley and found that Yixing Silicon Valley's "Annual Production of 1.68 million square meters of Printed Circuit Board Expansion" project had been partially completed and put into production, and the supporting pollution prevention and control facilities were only partially completed, and failed to pass the environmental protection "three simultaneous" acceptance. Wuxi Ecological Environment Bureau imposed a lighter penalty on Yixing Silicon Valley in accordance with relevant regulations and imposed a fine of 270,000 yuan.

Longxun shares:On July 16, 2024, Red Soil Ventures reduced its holdings of the company's shares by 101,000 shares through the Shanghai Stock Exchange's stock trading system in a centralized bidding transaction, accounting for 0.0991% of the company's total share capital. After this reduction, the number of shares held by Red Soil Ventures in the company was reduced to 5.11 million shares, and the shareholding ratio was reduced to 4.99%.

Gaohong shares:The total amount of litigation and arbitration involving the Company and its controlled subsidiaries for twelve consecutive months was approximately RMB 1.386 billion.

Space-time technology:An announcement of abnormal stock trading fluctuations was issued. The company's internal and external operating environment has not changed significantly. After self-examination by the company and verification with the controlling shareholder and actual controller, the net profit for 2023 is -207 million yuan; the net profit for the first half of 2024 is expected to be -67 million yuan to -82 million yuan.

5. Changes in senior management

Chang Aluminum Co., Ltd.:The company's board of directors agreed to elect Shi Ying as the chairman of the company's seventh board of directors, and his term of office will be from the date of approval by this board of directors to the date of expiration of the seventh board of directors.

VI. Related-party transactions

Jinhe Biotechnology:The company's holding subsidiary, Jinhe Youben Biological Products Co., Ltd., plans to jointly establish Zhongnong Jinhe Youben Chengdu Research Institute Co., Ltd. with Chengdu Agricultural Science and Technology Center and Zhongnong Duchuang (Chengdu) Technology Service Co., Ltd. Jinhe Youben will provide 200 million yuan of R&D and operating funds to Chengdu Research Institute within 10 years from the start of the joint construction. Among them, the registered capital of Chengdu Research Institute is 20 million yuan, and Jinhe Youben will invest 14 million yuan in cash with its own funds, with a shareholding ratio of 70%.

Longyuan Technology:The company plans to jointly invest with Xiong'an Energy Co., Ltd. of China Energy Group and Shandong Minghe Geothermal Energy Development Co., Ltd. to establish Guoneng Geothermal Development Co., Ltd. (hereinafter referred to as the "joint venture company", tentative name, subject to the final name approved by the competent market supervision department). The registered capital of the joint venture company is RMB 100 million, of which Longyuan Technology will contribute RMB 35 million in cash, accounting for 35% of the shares; Xiong'an Company will contribute RMB 60 million in cash, accounting for 60% of the shares; Minghe Company will contribute RMB 5 million in cash, accounting for 5% of the shares.

VII. Changes in Assets

Institute of Construction Science:The company plans to transfer its 40% equity interest in its controlling subsidiary Hubei Jiansheng Engineering Technology Consulting Co., Ltd. through public listing on the Shenzhen United Property Exchange Co., Ltd.