Must-read before trading: my country will accelerate the comprehensive green transformation of economic and social development; the central bank issued a major document
2024-08-12
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On the 9th local time, U.S. stocks rose across the board, putting an end to a week of ups and downs. As of the close, the Dow Jones Industrial Average rose 51.05 points, or 0.13%, to 39,497.54 points; the S&P 500 rose 24.85 points, or 0.47%, to 5,344.16 points; and the Nasdaq rose 85.28 points, or 0.51%, to 16,745.30 points.
Most of the leading technology stocks rose. As of the close, Meta rose 1.60%, Apple rose 1.37%, Alphabet rose 1.01%, Microsoft rose 0.83%, Amazon rose 0.69%, Tesla rose 0.58%, Netflix rose 0.57%, and Nvidia fell 0.21%.
Popular Chinese stocks rose and fell, with the Nasdaq China Golden Dragon Index falling 0.96%. Bilibili fell 5.0%, Xpeng Motors fell 2.97%, New Oriental fell 2.21%, Zhihu fell 1.89%, and Baidu fell 1.66%. Among the rising stocks, NetEase rose 0.84%, Li Auto rose 0.81%, and Pinduoduo rose 0.01%.
The price of the nearest month contract of WTI crude oil futures in the United States rose by 0.85% to close at $76.84 per barrel. The price of the nearest month contract of Brent crude oil futures rose by 0.63% to close at $79.66 per barrel. U.S. oil prices rose by nearly 4% last week as concerns about a recession eased and the situation in the Middle East could disrupt production and transportation.
►►On August 11, the CPC Central Committee and the State Council issued the "Opinions on Accelerating the Comprehensive Green Transformation of Economic and Social Development". This is the first time that the central government has made systematic arrangements to accelerate the comprehensive green transformation of economic and social development. The opinions put forward a series of goals: by 2030, the scale of the energy-saving and environmental protection industry will reach about 15 trillion yuan; the proportion of non-fossil energy consumption will increase to about 25%; the carbon emission intensity of the unit turnover of operating vehicles will decrease by about 9.5% compared with 2020; the annual utilization of bulk solid waste will reach about 4.5 billion tons, etc.
►►On August 10, the People's Bank of China issued a document stating: Study on moderately narrowing the width of the interest rate corridor and continue to reform and improve the LPR; continue to give full play to the role of supporting policies in promoting the housing rental industry and improve the housing rental financial support system; will closely monitor the monetary policy trends of major developed economies and implement a prudent monetary policy; since the beginning of this year, the annualized yields of some asset management products, especially bond-type wealth management products, have been significantly higher than the underlying assets; currently, deposit and loan interest rates have basically achieved market-based pricing.
►►On August 9, the central bank released the China Monetary Policy Implementation Report for the second quarter of 2024:
- Keep the scale of social financing and money supply in line with the expected targets of economic growth and price levels;
- Implement various measures to prevent and resolve risks in key areas such as real estate, local government debt, and small and medium-sized financial institutions;
- A prudent monetary policy should focus on balancing the short-term and long-term, stabilizing growth and preventing risks, and internal and external equilibrium;
- Conduct stress testing on the risk exposure of bond assets held by financial institutions to prevent interest rate risks;
- Gradually increase the purchase and sale of government bonds in the central bank's open market operations, and conduct temporary repo and reverse repurchase operations when necessary;
- Increase the construction and supply of affordable housing and promote the establishment of a housing system that combines renting and purchasing;
- Further improve the market-oriented interest rate formation, regulation and transmission mechanism, and study the appropriate narrowing of the interest rate corridor.
►►On August 9, the "Decision of the CPC Central Committee on Further Comprehensively Deepening Reform and Promoting Chinese-style Modernization" was recently released. The "Decision" makes arrangements for further deepening capital market reform, and makes arrangements such as "improving the capital market function of coordinating investment and financing", "promoting the healthy and stable development of the capital market", and "establishing a long-term mechanism to enhance the inherent stability of the capital market".
►►On August 9, the State Financial Supervision and Administration Bureau issued a notice on strengthening and improving the supervision of Internet property insurance business. Property insurance companies other than Internet insurance companies shall meet the following conditions to carry out Internet property insurance business: (i) the comprehensive solvency adequacy ratio is not less than 120% and the core solvency adequacy ratio is not less than 75% for the last four consecutive quarters; (ii) the comprehensive risk rating is Class B or above for the last four consecutive quarters; (iii) other conditions stipulated by the Financial Supervision Bureau. Internet insurance companies shall comply with the relevant conditions of the "Internet Insurance Business Supervision Measures" to carry out Internet property insurance business, and the solvency and comprehensive risk ratings at the end of the previous quarter shall meet the indicators required by the preceding paragraph.
►►According to real-time data from the online platform, as of 18:57 on August 10, the total box office (including pre-sales) for the 2024 summer season (June-August) exceeded 9 billion.
►►After winning its antitrust lawsuit against Google, the U.S. Department of Justice may reportedly seek to force the company to implement major changes, such as forcing the divestiture of Android.
►►The 33rd Summer Olympic Games closed in Paris, France. All the competitions of the 2024 Paris Olympics have ended. The Chinese sports delegation won 40 gold, 27 silver and 24 bronze medals, the same number of gold medals as the United States, setting a record for China's best performance in overseas Olympics.
Bohui shares: will arrange to pay 480 million yuan in taxes and fees as soon as possible in the near future
Bohui shares announced that the company has declared consumption tax of 428 million yuan and additional taxes and fees of 51.3784 million yuan on August 9, 2024, totaling 480 million yuan, in accordance with the current tax policy, and will arrange payment as soon as possible in the near future. On the same day, an announcement of unusual changes was issued, and the company is currently actively preparing for the resumption of work and production. As of the date of disclosure of this announcement, the company has not yet resumed production.
Shenyang Chemical: The China Securities Regulatory Commission has decided to file a case against the company for suspected illegal information disclosure
Shenyang Chemical announced that the company received the "Notice of Filing of a Case by the China Securities Regulatory Commission" issued by the China Securities Regulatory Commission on August 9, 2024. The China Securities Regulatory Commission decided to file a case against the company because the company was suspected of violating laws and regulations on information disclosure. At present, the company's various production and operation activities are carried out normally.
Ren Zixing: Received a case filing notice from the China Securities Regulatory Commission for suspected illegal and irregular information disclosure
Ren Zixing announced that the company received the "Notice of Case Filing" issued by the China Securities Regulatory Commission on August 9, 2024. 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. After the company's self-examination, the reason for the case was mainly because the company found that its wholly-owned subsidiary Beijing Yahong Century Technology Development Co., Ltd. had overstated assets, overstated income, and overstated profits in the relevant years. The company has actively rectified the accounting errors and made retroactive adjustments to the relevant annual financial statements, and hired an accounting firm to issue a relevant audit report.
Zhongqingbao: Due to suspected illegal and irregular information disclosure, the company and its actual controller received a notice of filing a case by the China Securities Regulatory Commission
Zhongqingbao announced that the company and its actual controller Zhang Yunxia recently received a "Notice of Case Filing" issued by the China Securities Regulatory Commission. Due to suspected illegal and irregular information disclosure, the China Securities Regulatory Commission decided to file a case against the company and its actual controller Zhang Yunxia.
Juchen shares: net profit in the first half of the year increased by 124.93% year-on-year
Juchen Co., Ltd. announced that the company achieved operating income of 515 million yuan in the first half of 2024, a year-on-year increase of 62.37%; net profit attributable to shareholders of listed companies was 143 million yuan, a year-on-year increase of 124.93%. The company's SPD products, NOR Flash products and automotive-grade EEPROM products achieved rapid year-on-year growth in shipments during the reporting period, driving the company's operating income in the first half of the year to achieve the best performance in the same period in history. Xiaocai Note: Q1 net profit was 51.0906 million yuan. Based on this calculation, Q2 net profit was 91.8698 million yuan, a month-on-month increase of 80%.
CICC: Shareholder Haier Jinying plans to reduce its holdings by no more than 2.1964%
CICC announced that due to its own development needs, shareholder Haier Jinying plans to reduce its holdings of no more than 2.1964% of the company's shares through block trading or centralized bidding within 3 months after the end of 3 trading days from the date of disclosure of the announcement. The reduction price will be determined based on the market price. Haier Jinying currently holds 2.1964% of the shares, all of which were acquired before the company's initial public offering of A shares and listing. This reduction does not involve the risk of change of control and does not involve relevant regulatory guidelines.
Nanochip: Terminates Intention to Acquire 67.60% of Quantum Micro's Shares
Naxin Micro announced that the company's intention agreement to acquire 67.60% of Quantum Micro's shares has been terminated. On July 17, 2023, the company signed a "Share Acquisition Intent Agreement" with some shareholders of Quantum Micro, planning to acquire 33.63% of Quantum Micro's shares in cash, and then signed an agreement with other shareholders from July to August 2023 to acquire another 33.97% of the shares. Due to changes in the external market environment and other reasons, the parties to the transaction failed to reach a final consensus and decided to terminate the acquisition. This decision will not have an adverse impact on the company's operating performance and financial condition.
CITIC Securities:Policies are being implemented steadily, but the weak domestic demand environment has not improved, and price signals still need to be waited for; the global recession trade has come to an end, and the decline in risk appetite has a certain negative impact on Chinese assets; the volatility of overseas asset prices will shorten the bottoming process of A-shares, and the allocation will gradually switch to low-priced varieties.
Everbright Securities:The current market valuation is low, the risk factors are relatively small, and the future market downside is expected to be limited. Around September may be a key time point for the market to rise.
Zheshang Securities:A shares have entered the bottoming period of the mid-line, but the formation of the bottom will not happen overnight, and may last for some time; before the real mid-line big market starts, the market will most likely show a range-bound fluctuation trend of "support below and pressure above".
(This article comes from China Business Network)
