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【News Review】

1. Foreign Ministry Spokesperson Lin Jian hosted a regular press conference yesterday. A reporter asked whether China would mediate the Ukrainian crisis. Lin Jian said that regarding the Ukrainian crisis, China has always believed that an early ceasefire and political solution are in the common interests of all parties. China has always advocated that dialogue and negotiation are the only viable way out of the Ukrainian crisis, and has always maintained an objective and fair position and is committed to promoting peace and dialogue.

2. The China Securities Regulatory Commission recently held a meeting to study and implement the spirit of the Third Plenary Session of the 20th CPC Central Committee and a mid-year work meeting to deploy further comprehensive deepening of capital market reform and key tasks in the second half of the year. In the next step, we must focus on the following tasks: First, we must effectively maintain the stable operation of the market. Second, we must make greater efforts to serve the recovery of the real economy. Third, we must promote the deepening and implementation of the registration system for stock issuance. Fourth, we must cultivate high-quality listed companies. Fifth, we must focus on preventing and resolving risks in key areas such as private equity funds, trading venues, bond defaults, and industry institutions. Sixth, we must vigorously improve the effectiveness of supervision and law enforcement.

3. On July 29, the Financial Supervision Administration held a meeting to study and implement the spirit of the Third Plenary Session of the 20th CPC Central Committee and the mid-year work meeting in 2024 to study and deploy key tasks in the second half of the year. The meeting required accelerating the construction of a science and technology financial system that is compatible with scientific and technological innovation and increasing credit supply in the consumer sector. Promote the coordination mechanism for urban real estate financing to play a better role. Guide financial institutions to actively cooperate in resolving local government debt risks.

4. The Ministry of Finance held a special meeting to thoroughly study and implement the spirit of the Third Plenary Session of the 20th CPC Central Committee. The meeting required the study of a tax system that is compatible with new business forms and the standardization of tax incentives. The meeting also required the establishment of a central and local fiscal relationship with clear responsibilities, coordinated financial resources, and regional balance, and the increase of local independent financial resources.

【Industry Hotspots】

1、CITIC Bank, China Everbright Bank,Industrial Bank,Shanghai Pudong Development Bank,Minsheng Bank、HSBC Bank、China Zheshang Bank、China Guangfa Bank, Bohai Bank, and Hengfeng Bank adjusted their RMB savings deposit rates on July 29.China Merchants BankWith the addition of Ping An Bank, all 12 national joint-stock banks have completed this round of deposit rate cuts. In this rate cut, the state-owned banks and 12 joint-stock banks all lowered their demand deposit rates by 5 basis points to 0.15%. This is the first adjustment of demand deposit rates since June 8, 2023.

2. UBS Securities downgraded the ratings of Kweichow Moutai, Wuliangye, Luzhou Laojiao and Yanghe Shares from buy to neutral. UBS Securities said that the average earnings per share compound annual growth rate of the covered liquor companies is expected to slow down from 19% in 2020-2023 to 8% in 2023-2025. Given that leading liquor companies have not actively controlled supply and expanded production capacity, it is expected that the retail prices of ultra-high-end liquor companies will face greater pressure in 2024-2025.

3. Huawei Executive Director and Chairman of Intelligent Vehicle Solutions BU Richard Yu revealed at the AITO 400,000th new car off-line and M9 70,000th delivery ceremony that Huawei's advanced intelligent driving 3.0 version (Qiankun ADS 3.0 version) will be officially launched in August. Huawei Qiankun ADS 3.0 is the latest intelligent driving system launched by Huawei's Intelligent Vehicle Solutions BU.

4. China Eastern Airlines officially received the seventh domestically-made large aircraft C919. Yesterday afternoon, the domestically-made large aircraft C919 with the aircraft number B-919H carried out the MU9006 transfer flight, flew from Shanghai Pudong International Airport to Shanghai Hongqiao International Airport, and officially joined the China Eastern Airlines fleet. This is the third domestically-made large aircraft C919 received by China Eastern Airlines this year. As of now, China Eastern Airlines' C919 fleet has reached 7 aircraft.

5. Data from the China Academy of Information and Communications Technology show that in June 2024, the domestic mobile phone shipments reached 24.912 million units, a year-on-year increase of 12.5%. Among them, 5G mobile phones reached 22.131 million units, a year-on-year increase of 27.8%, accounting for 88.8% of mobile phone shipments in the same period.

6. On the morning of the 29th, the State Grid announced the start of construction of the ±800 kV UHV DC transmission project from Gansu to Zhejiang. The Gansu-Zhejiang power transmission project is a key project in the country's "14th Five-Year Plan" power development plan. The total investment in the project is about 35.3 billion yuan. The project will have a supporting access power supply of 15.2 million kilowatts, including 4 million kilowatts of coal-fired power and 11.2 million kilowatts of new energy.

7. Beijing Municipal Housing and Urban-Rural Development Commission and eight other departments issued the "Work Plan for Actively Promoting Home Improvement Trade-in". The plan pointed out that the Municipal Bureau of Commerce, in conjunction with the subsidy policy to encourage the trade-in of green and smart consumer products, will include green and smart products such as home improvement building materials, home appliances, and home furnishings that meet energy efficiency (water efficiency) standards into the scope of policy subsidies.

【Topic Company】

1. Volkswagen Transportation announced that the company's stock may face the risk of falling after a large short-term increase.

2. A PPT that is suspected to be from Leapmotor that has been circulating online states that Leapmotor will make major strategic adjustments and take back the rights and interests of some models starting from August 1. Leapmotor responded to the reporter that it was not aware of this and was in the process of internal verification.

3. WuXi AppTec released its semi-annual report, with net profit in the first half of the year down 20% year-on-year.

4. Jiangxi Changyun announced that it is not currently involved in unmanned driving and autonomous driving businesses.

5. Aike shares announced that it plans to purchase 70.62% of Wuxi Shuguang in cashEquity。

6. Shentong Metro announced that Shentong Metro Group officially took over Shanghai Shentie and Jiushi Chengkai and has no direct relationship with the company.

7. Zhongbei Communications disclosed its semi-annual report, with a net profit of 105 million yuan in the first half of the year, a year-on-year increase of 59.46%.

8. Volkswagen Utilities announced that its main businesses at present include gas and sewage treatment, and its equity investment in Volkswagen Transportation is accounted for using the equity method.

9. Oriental Materials disclosed a clarification announcement regarding media reports, stating that the company's controlling shareholder and actual controller Xu Guangbin was not out of contact and was performing his duties normally.

10. Luckin Coffee responded to the removal of its sauce-flavored latte by saying that it was taken off the shelves in some cities across the country due to natural consumption, and that it would no longer be sold without the ingredients used in the product.

11. Zoli Pharmaceutical announced that it plans to repurchase the company's shares for RMB 200 million to RMB 300 million.

12. Fuyao Glass released its performance report, with a net profit of 3.499 billion yuan in the first half of the year, a year-on-year increase of 23.35%.

13. Chaoyue Technology announced that the company is currently in a loss-making state.

14、Aier Eye HospitalThe announcement stated that it plans to acquire partial equity of 35 hospitals for RMB 898 million.

15. SuperMap Software announced that it has signed a strategic cooperation agreement with Jiuzhou Group to promote the company's low-altitude economic business.

【Stock Market Dynamics】

1. The three major U.S. stock indexes closed with mixed gains and losses, with the Nasdaq up 0.07%, the S&P 500 up 0.08%, and the Dow down 0.12%. Large technology stocks rose more than fell, with Tesla up more than 5% and Google up more than 1%.Amazon, Microsoft, and Apple rose slightly, while Meta closed flat; Nvidia and Intel fell more than 1%, and Netflix fell slightly. Most of the major European stock indices closed lower, with the German DAX30 index falling 0.51%.

2. The settlement price of international crude oil futures fell by more than 1.5%. The September contract of WTI crude oil futures fell by 1.75%, and the September contract of Brent crude oil futures fell by 1.66%.

3. The latest data released on the U.S. Treasury Department website on the 29th showed that the U.S. federal government debt has exceeded the 35 trillion U.S. dollar mark.

【Notice】

Dazhong Transportation: The stock price has risen sharply recently, and there may be a risk of decline after a short-term surge.

SuperMap Software: Signed a strategic cooperation agreement with Jiuzhou Group to cooperate in the development of low-altitude product systems and other fields

Tenda Technology: No major events that should be disclosed but have not been disclosed

Volkswagen Public Utilities: Currently, the main businesses are gas and sewage treatment. The equity investment in Volkswagen Transportation is accounted for using the equity method.

Guozhong Water Group Co., Ltd. has been listed for 6 consecutive days: Beijing Huiyuan is still mainly engaged in OEM production

Jinlong Motors: Sales revenue of driverless buses accounts for a very small proportion of the company's revenue

Linhai shares, which have been on the board for three consecutive days: Currently, all production and operation activities are normal and there have been no major changes in the business sector

Jiaoyun shares have been on the board for 3 consecutive days: the company's current price-earnings ratio is higher than the industry average

Baota Industrial Co., Ltd. has been listed for two consecutive days: There is still uncertainty as to whether the major asset restructuring can be formally implemented

Shentong Metro: Shentong Metro Group officially took over Shanghai Shentie and Jiushi Chengkai and has no direct relationship with the company

Yueling shares: Terminate planning of major asset restructuring

Jiangxi Changyun: Currently not involved in unmanned driving and autonomous driving business

Senying Window Industry: Triggering the conditions for launching measures to stabilize stock prices

Lingnan Holdings: Received RMB 76.0668 million in cash dividends from equity-holding companies

China Fortune Land Development: Signed a strategic cooperation agreement with Langfang Linkong to carry out long-term cooperation in the field of low-altitude economy

Jinjiang Online: The demonstration operation of intelligent connected driverless taxis carried out by subsidiaries and relevant partners basically does not generate any income

Haiwang Bio: Plans to raise no more than 1.488 billion yuan from Silk Textile Group and Guangxin Group

Jianglong Boats: Pre-bid for 114 million yuan 1,400-ton fireboat construction project

Liande Equipment: Pre-bid of 179 million yuanJD.comAMOLED (flexible) production line project

Energy-saving Iron Man: Signed a construction contract for the first section of the Xian County flood storage and management project worth about 300 million yuan

*ST Hezhan: Subsidiary signs 109 million yuan steel-concrete tower sales contract

Jiaojian shares: Subsidiary Jiaojian Construction jointly won the bid for two projects

Mercedes-Benz Information: Pre-winning the bid for China Mobile's green multi-band base station antenna product centralized procurement project

Sanxin Medical: Plans to invest 20 million yuan to establish a wholly-owned subsidiary

Oriental Materials: The company's controlling shareholder and actual controller Xu Guangbin is not out of contact and is performing his duties normally

Feilixin: Signed a 540 million yuan cloud service procurement agreement with a leading artificial intelligence company

Beyond Technology: The company is currently in a loss-making state

Shaoyang Hydraulics: The company's price-to-earnings ratio is higher than the average static price-to-earnings ratio of the general equipment manufacturing industry

Aier Eye Hospital: Plans to acquire partial equity of 35 hospitals for RMB 898 million

Qiming Information: There is no need to correct or supplement the information disclosed by the company in the past

13 days and 7 boards in Power New Technology: The company's profitability is relatively weak and there is a risk of high valuation in the short term

Aike shares: plans to purchase 70.62% equity of Wuxi Shuguang in cash

Donghong shares: won the bid for the 341 million yuan Yantai Port LNG long-distance pipeline project

Zoli Pharmaceuticals: Net profit in the first half of the year increased by 49.78% year-on-year

WuXi AppTec: Net profit in the first half of the year was 4.239 billion yuan, down 20% year-on-year

Fuyao Glass: Net profit in the first half of the year was 3.499 billion yuan, a year-on-year increase of 23.35%

Espressif Technology: Net profit in the first half of the year was 152 million yuan, a year-on-year increase of 134.85%

Zhongbei Telecom: Net profit in the first half of the year was 105 million yuan, a year-on-year increase of 59.46%

Aide Biotechnology: Net profit in the first half of the year was 144 million yuan, an increase of 13.49% year-on-year

Zhongwang Textiles: Half-year net profit of 46.8344 million yuan, a year-on-year increase of 20.6%

Meihua Bio: Net profit in the first half of the year was 1.474 billion yuan, a year-on-year increase of 7.51%

Jiuhua Tourism: Net profit in the first half of the year was 114 million yuan, a year-on-year increase of 2.65%

Lixing shares: net profit in the first half of the year increased by 0.44% year-on-year, and it is planned to pay 1.2 yuan per share

Sifangda: Net profit in the first half of the year was 62.9551 million yuan, down 21.58% year-on-year

Houpu shares: net loss of 20.019 million yuan in the first half of the year

Valin Steel: The controlling shareholder and persons acting in concert intend to continue to increase their holdings by 0.5%-1%

Pingmei Coal Group: The controlling shareholder plans to increase its holdings of the company's shares by 300 million to 600 million yuan

Huasu Group: Jianxin Financial intends to reduce its holdings by no more than 1%

Xiamen Xiangyu: Director Zhang Shuili increased his holdings of the company's shares by 30,400 shares

Jida Zhengyuan: Shareholders intend to reduce their holdings by no more than 1.57%

Dongjian Technology: Shareholders intend to reduce their holdings of the company by no more than 1.2%

Homai shares: plans to repurchase company shares for 100 million to 200 million yuan

Kingfa Technology: Plans to repurchase shares worth RMB 300 million to RMB 500 million for employee stock ownership plans or equity incentives

Zoli Pharmaceutical: Plans to repurchase company shares for RMB 200 million to RMB 300 million

Desou Fashion: Plans to repurchase company shares for RMB 100 million to RMB 200 million

Xinmai Medical: Plans to repurchase company shares for RMB 60 million to RMB 100 million

Hualan shares: plans to repurchase shares for RMB 40 million to RMB 80 million