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Summary

The five departments will implement five special actions to strengthen financial support for comprehensive rural revitalization;

Nine departments: Strengthen financial support to expand the supply of tourism public services;

The Shanghai headquarters of the People's Bank of China: Guide banks to reasonably adjust deposit interest rates and promote the reduction of comprehensive financing costs for small and micro enterprises;

China Securities Finance: The claim that the data of the “transfer and financing system” is fictitious is pure rumor;

The National Medical Insurance Administration issued a document to simplify the listing format for injectables and promote price transparency;

The total box office in 2024 will exceed 30 billion yuan;

Honor plans to initiate share reform in the fourth quarter of this year and then launch its IPO at an appropriate time.

Spotlight

Five departments will implement five special actions to strengthen financial support for the comprehensive revitalization of rural areas

Recently, the People's Bank of China, the Financial Regulatory Bureau, the China Securities Regulatory Commission, the Ministry of Finance, and the Ministry of Agriculture and Rural Affairs jointly issued the "Notice on Carrying out a Special Action to Learn and Apply the Experience of the "Ten Million Project" to Strengthen Financial Support for the Comprehensive Revitalization of Rural Areas", proposing to implement five special actions such as financial guarantee of food security. It is understood that in the next step, the People's Bank of China will increase the use of monetary policy tools such as re-lending and re-discounting, differentiated deposit reserve ratios, and guide financial institutions to expand credit for rural revitalization; support financial institutions to issue "agriculture, rural areas and farmers", small and micro enterprises, and green financial bonds to broaden the channels for loanable funds. The "Notice" proposes to implement five special actions, including: special actions to ensure food security through finance, special actions to consolidate and expand the results of financial assistance, special actions to provide financial services for rural industrial development, special actions to support rural construction through finance, and special actions to empower rural governance through finance.

Nine departments: Strengthen financial support to expand the supply of tourism public services

On August 5, the full text of the "Guiding Opinions on Promoting the High-quality Development of Tourism Public Services" jointly issued by the Ministry of Culture and Tourism, the National Development and Reform Commission and other nine departments was released. The "Guiding Opinions" proposed that in 3 to 5 years, a tourism public service system that matches the high-quality development of the tourism industry should be basically established, and the effective supply of tourism public services should be significantly expanded. In terms of organizational guarantees, it is necessary to make good use of existing special funds such as the Tourism Development Fund, guide social forces to increase investment, and strengthen financial guarantees. In the annual land supply, new construction land for tourism public service facilities such as tourism service centers should be reasonably arranged, and rural collective construction land should be supported for the construction of tourism public service facilities in accordance with laws and regulations.

The Shanghai headquarters of the People's Bank of China: Guide banks to reasonably adjust deposit interest rates to promote the reduction of comprehensive financing costs for small and micro enterprises

The Shanghai headquarters of the People's Bank of China held a work meeting for the second half of 2024. The meeting required strengthening financial support for the real economy. Guide financial institutions under its jurisdiction to maintain reasonable growth and balanced credit supply. Better play the role of structural monetary policy tools and promote the tilt of financial resources to key areas and weak links. Guide banks to reasonably adjust deposit interest rates. Promote the reduction of comprehensive financing costs for small and micro enterprises. Do a good job in the "five major articles" of finance and continue to release policy dividends. Give full play to the role of the Shanghai Science and Technology Innovation Financial Alliance platform to promote diversified financing for technology-based enterprises. Accelerate the development of green finance and transitional finance in Shanghai, and strengthen the construction of green financial standards and exchanges and cooperation. Deepen the construction of the long-term mechanism of "four loans", guide financial institutions to increase the issuance of first loans, credit loans, and medium- and long-term loans, and promote inclusive small and micro loans to maintain a good trend of "increase in volume, reduction in price, expansion in scope, and optimization of structure".

China Securities Finance: The claim that the data of the transfer and financing platform is fictitious is pure rumor

China Securities Finance Corporation Limited issued a statement on August 5, saying that recently, some self-media claimed that "the data of the securities lending and borrowing system are all virtual, and there is actually no upper limit on the amount of securities lending and selling. After the securities lending and borrowing are lent, there is no need to return the securities", and the relevant statements are rumors. The data of the securities lending and borrowing system are real transaction data based on the willingness of lenders and borrowers. According to China Securities Finance, in order to solve the problem of insufficient securities sources in securities lending business of securities companies, the securities lending and borrowing system was launched in 2013. Lenders lend securities to China Securities Finance, securities companies borrow securities from China Securities Finance, and then provide them to investors for securities lending and selling. There are real stock transfer records in each link of securities lending and borrowing, and the whole process can be traced back. China Securities Finance stated that the data information such as the trading volume, rate, margin and balance of securities lending and borrowing on each trading day published on the company's website are all based on objective records of real transactions. The statement that "the data of the securities lending and borrowing system are all virtual" is seriously inconsistent with the facts. Data shows that the scale of securities lending and securities lending has been steadily declining. As of August 2, 2024, the balance of securities lending has dropped to 17.1 billion yuan, a decrease of more than 40% from before the new regulations on July 10; the balance of securities lending has dropped to 21.2 billion yuan, a decrease of more than 30% from before the new regulations.

The National Medical Insurance Bureau issued a document to simplify the listing form of injections and promote price transparency

Recently, the Office of the National Healthcare Security Administration issued the "Notice on Standardizing the Listing of Injectable Drugs", requiring all localities to simplify the listing methods for injectable drugs, unify the listing methods based on the smallest dosage unit, and promote more balanced and transparent listing prices for injectable drugs.

The total box office in 2024 will exceed 30 billion yuan

According to Tao Piaopiao's Weibo message, according to the data from Lighthouse Professional Edition, as of 16:32 on August 5, the total box office of theater movies in 2024 (including pre-sales) exceeded 30 billion yuan.

Honor plans to launch an IPO in due course after launching its share reform in the fourth quarter of this year

On the afternoon of August 5, in response to rumors about its listing, Honor told the Securities Times e-company reporter that Honor has always adhered to the principle of open and transparent development and will continue to diversify its equity structure. Honor plans to launch the corresponding shareholding reform in the fourth quarter of this year and start the IPO process in due course. Honor will disclose relevant financial data in the corresponding process. Honor said that from January 1, 2021 to date, Honor has not received support from the Shenzhen Municipal Government beyond that of ordinary enterprises.

Theme Opportunities

Pig price breaks through 20 yuan mark, feed cost drops, boosts industry profits

According to the China Pig Early Warning Network, the average price of lean pigs sold nationwide on August 5 was 20.37 yuan/kg, up 0.42 yuan/kg from last Friday. The spot price of live pigs in the market continued to rise over the weekend, with an increase in the number of pigs sold in the north and south. Large-scale enterprises continued to reduce the volume and control the price, and adjusted the supply, which led to an increase in the number of live pigs in the market. On the other hand, since the third quarter of last year, feed costs have gradually declined, among which the price of soybean meal has fallen by about 30% from the high point in the third quarter of last year. The decline in the price of feed raw materials is expected to drive listed pig companies to further reduce breeding costs. The semi-annual performance forecasts released by many listed companies in the breeding industry show that the industry's prosperity has improved significantly. Zhejiang Securities believes that the pig breeding industry has experienced more than one year of continuous losses since 2023, and is currently in the early stages of balance sheet repair. Funding constraints may limit the pace of capacity expansion in the industry. After turning losses around, the industry did not see a large-scale replenishment of sows, which also means that the rate of supply increase in the future may be lower than the previous cycle, and the duration of high pig prices is expected to be longer.

The seed industry sector welcomes another major policy boost, and leading seed companies are expected to benefit fully from their first-mover advantage

The central bank and five other departments issued the "Notice on Carrying out a Special Action to Learn and Apply the Experience of the "Ten Million Project" to Strengthen Financial Support for the Comprehensive Revitalization of Rural Areas". It proposed to deepen the revitalization of the seed industry and agricultural science and technology financial services. Establish and improve the list sharing and financing monitoring mechanism of seed industry bases and seed industry array enterprises. Actively connect with major construction plans such as the modern seed industry improvement project, the National South Breeding Silicon Valley, and major tasks such as key core technology research and development of seed sources, major agricultural biological breeding projects, and joint research and development of breeding. Support eligible seed companies to go public, list financing and refinancing, carry out investment and mergers and acquisitions and mergers and reorganizations, and help improve independent innovation capabilities. Analysis pointed out that since the beginning of this year, major policies for the revitalization of the seed industry have been implemented one after another. On February 3, the Central Document No. 1 pointed out that "accelerate the promotion of the seed industry revitalization action and promote the expansion of biological breeding industrialization". On June 7, the Ministry of Agriculture and Rural Affairs held a video conference to summarize the acceleration of the seed industry revitalization action and the germplasm resource census. The meeting emphasized ensuring that a batch of landmark achievements will be achieved by 2025. As biobreeding policies continue to be strengthened and the commercialization of GMOs is being implemented, the market space will be expanded, the competitive landscape of the seed industry is expected to improve, and industry concentration will further increase. Leading seed companies are expected to benefit fully from their first-mover advantage.

Continuous technological breakthroughs accelerate the commercialization of perovskite tandem batteries

The research and development of perovskite tandem cells has made progress again. Recently, scientific research teams from domestic units such as Beijing Institute of Technology have successfully overcome the technical difficulties in the preparation of perovskite tandem solar cells, and developed perovskite tandem solar cells with a photoelectric conversion efficiency of 32.5% and long-term operating stability. In the view of Zhu Gongshan, chairman of GCL Group, the starting point of perovskite tandem efficiency is higher than the end point of the current crystalline silicon module efficiency. In the next ten years, perovskites will be in a golden age. Although facing many challenges, the industry believes that perovskite tandem cells still have broad prospects in the photovoltaic field. It can be said that despite the challenges of material stability and production process, with the continuous breakthroughs in technology and continuous optimization of processes, the market prospects of perovskite tandem cells are exciting. It is reported that at present, photovoltaic leaders such as Longi Green Energy, Jinko Energy, Tongwei Co., Ltd., and GCL Group are all increasing their layout to promote their commercialization process.

company news

Kairuide: Plans to acquire no less than 29.0134% of State Grid's equity

Kairuide (002072) announced on the evening of August 5 that the company is planning to purchase no less than 29.0134% of the shares of Beijing State Grid Electric Power Technology Co., Ltd. (hereinafter referred to as "State Grid Electric Power") from some shareholders of State Grid Electric Power, becoming the largest shareholder of State Grid Electric Power. The transaction is expected to acquire no less than 387 million yuan, which will constitute a major asset reorganization. At the same time, the counterparty may become a shareholder holding more than 5% of the company's shares in the future, so this transaction is a related transaction. State Grid Electric Power is a new energy aggregation control and service provider for new power systems. This transaction will further optimize the company's business structure, enhance the company's profitability, and achieve the expansion of the second main business.

Lianchuang Optoelectronics: Plans to acquire part of Lianchuang Superconducting's equity and become its controlling shareholder

Lianchuang Optoelectronics (600363) announced on the evening of August 5 that in order to realize the company's industrial layout in the field of high-temperature superconductors, the company plans to acquire 8% of the equity of Jiangxi Lianchuang Optoelectronics Superconducting Application Co., Ltd. (hereinafter referred to as "Lianchuang Superconducting") held by the company's controlling shareholder Jiangxi Electronics Group with cash of 357 million yuan, and plans to acquire 3% of the equity of Lianchuang Superconducting held by Gongqingcheng Zhinuojia with cash of 134 million yuan. After the transaction is completed, the company's shareholding ratio in Lianchuang Superconducting will increase from 40% to 51%, and it will obtain 3 of the 5 seats on the board of directors of Lianchuang Superconducting, becoming the controlling shareholder of Lianchuang Superconducting and including it in the scope of consolidated financial statements.

Northeast Pharmaceutical: Plans to acquire 70% equity of Dingcheng Peptide Source to cultivate new profit growth points

Northeast Pharmaceutical (000597) announced on the evening of August 5 that the company signed a framework agreement for equity acquisition with Zhang Rong, intending to acquire 70% of the equity of Beijing Dingcheng Peptide Source Biotechnology Co., Ltd. (hereinafter referred to as "Dingcheng Peptide Source"). The acquisition of the controlling stake in Dingcheng Peptide Source will help optimize the company's business structure, quickly enter the research, product development and clinical application of specific cell immunotherapy technology, and cultivate new business and profit growth points for the company.

Liande Equipment: Won the bid for BOE Chongqing AMOLED production line project worth RMB 179 million

Liande Equipment (300545) announced on the evening of August 5 that the company recently received a notice of winning the bid from China Electronics Business (Beijing) Co., Ltd., confirming that the company has become the successful bidder for BOE's Chongqing 6th generation AMOLED (flexible) production line project, with a total bid amount of approximately 179 million yuan.

Yinlun Holdings: Subsidiary signs order for 108 sets of liquid cooling systems for computing centers

Yinlun Holdings (002126) announced on the evening of August 5 that its holding subsidiary Zhejiang Kaishan Yinlun Heat Exchanger Co., Ltd. ("Kaishan Yinlun") recently signed a "Product Purchase and Sales Contract" with a data center overall solution service provider. Kaishan Yinlun will provide customers with 108 sets of liquid cooling systems for the BTB computing center.

Liyuan Technology: Signed a 37.95 million yuan nuclear power market supply contract

Liyuan Technology (688565) announced on the evening of August 5 that the company recently signed a contract with China Nuclear Power Engineering Co., Ltd. for the supply of condensate polishing system equipment for Zhejiang Jinqimen Nuclear Power Plant Units 1 and 2, with a contract value of RMB 37.95 million (tax included). The signing of this contract will further consolidate the company's leading position in the nuclear power market and will have a positive impact on the company's business development and operating performance.

Wanan Technology: A subsidiary of the company was designated by a well-known domestic new power automobile enterprise

Wanan Technology (002590) announced on the evening of August 5 that its wholly-owned subsidiary Zhejiang Wanan Zhiyu Automotive Control Systems Co., Ltd. ("Wanan Zhiyu") recently received a designated notice from a well-known new power automobile company in China. Wanan Zhiyu was selected as the development and cooperation supplier of aluminum alloy fixed calipers for three models of a certain platform of the customer. According to the customer's plan, the life cycle of the above project is 5 years, and it is expected to start mass production in 2026, with a total sales amount of approximately 980 million yuan in the life cycle.

Huadong Heavy Machinery: Terminates the construction of Bozhou 10GW annual production N-type high-efficiency solar cell project

Huadong Heavy Machinery (002685) announced on the evening of August 5 that due to the overall severe and continued decline in prices in the photovoltaic industry chain and the continued low prices of battery cells, continued investment will not achieve the commercial purpose when the contract was signed. The company decided to terminate the investment in the construction of the Bozhou 10GW N-type high-efficiency solar cell production base project and cancel the project company Huadong Photonics Technology (Bozhou) Co., Ltd.

COSCO Shipping Special: Plans to build four 9,000-ton special liquid cargo ships at US$98 million

COSCO Shipping (600428) announced on the evening of August 5 that it plans to invest in the construction of four 9,000-ton special liquid cargo ships at Mawei Shipyard in Fujian Province, with a total investment of approximately US$98 million, with its wholly-owned subsidiary COSCO Shipping (Hong Kong) Investment Development Co., Ltd. as the investment entity. This investment will help the company focus on its core business of serving strategic commodities and promote the optimization of its asphalt fleet structure.

Fudan Fuhua: The China Securities Regulatory Commission has decided to file a case against the company for suspected illegal information disclosure

Fudan Fuhua (600624) announced on the evening of August 5 that the company received a "Notice of Case Filing" from the China Securities Regulatory Commission on August 5. The China Securities Regulatory Commission decided to file a case against the company because the company was suspected of violating laws and regulations in information disclosure.

Huiyu Pharmaceuticals: The company's chairman was investigated for suspected short-term trading

Huiyu Pharmaceuticals (688553) announced on the evening of August 5 that the company's chairman and general manager Ding Zhao received a "Notice of Case Filing" from the China Securities Regulatory Commission on August 5 for suspected short-term trading of the company's stocks. This matter is an investigation of Ding Zhao personally and will not have a significant impact on the operation of the company's board of directors and the company's daily business activities. Huiyu Pharmaceuticals also announced that its wholly-owned subsidiary Seacross Pharmaceuticals Ltd. recently received marketing authorizations for the company's products oxaliplatin injection and zoledronic acid injection approved and issued by the Ministry of Health of the Republic of Costa Rica and the Health Products Regulatory Authority of Ireland.

Zhengdan shares: net profit of 286 million yuan in the first half of the year, an increase of 1015.51% year-on-year

Zhengdan Co., Ltd. (300641) released its semi-annual report on the evening of August 5, achieving operating income of 1.382 billion yuan in the first half of the year, a year-on-year increase of 86.52%; net profit of 286 million yuan, a year-on-year increase of 1015.51%; basic earnings per share of 0.58 yuan. During the reporting period, due to the unstable supply and tight supply of overseas TMA manufacturers, the overseas market's demand for Chinese TMA has increased significantly. The sales volume and sales unit price of the company's main product TMA have increased significantly compared with the same period last year. At the same time, the sales volume and sales unit price of TOTM products have also increased to a certain extent compared with the same period last year.

Huali Group: Net profit in the first half of the year was 1.878 billion yuan, a year-on-year increase of 29.04%

Huali Group (300979) released its performance report on the evening of August 5, achieving total operating revenue of 11.472 billion yuan in the first half of the year, a year-on-year increase of 24.54%; net profit of 1.878 billion yuan, a year-on-year increase of 29.04%; basic earnings per share of 1.61 yuan. In the first half of the year, with the company's continued progress in cooperation with new customers and the steady increase in its share of major customers, the company's sports shoe sales and operating income have both grown steadily. During the reporting period, the company sold 108 million pairs of sports shoes, a year-on-year increase of 18.25%.

Zhongtong Bus: Car sales in the first seven months reached 6,781 units, a year-on-year increase of 71.41%

Zhongtong Bus (000957) announced on the evening of August 5 that the company's production in July 2024 was 909 vehicles, and the cumulative production this year was 7,485 vehicles, a year-on-year increase of 80.27%; sales were 1,078 vehicles, and the cumulative sales this year was 6,781 vehicles, a year-on-year increase of 71.41%.

Editor: Chen Lixiang

Proofreading: Ran Yanqing