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【News Review】

1. Foreign Ministry Spokesperson Hua Chunying announced: At the invitation of General Secretary of the CPC Central Committee and President Xi Jinping, General Secretary of the Communist Party of Vietnam and President To Lin will pay a state visit to China from August 18 to 20.

2. How will monetary policy continue to support steady growth in the next step? Pan Gongsheng, governor of the central bank, recently said that since the beginning of this year, the People's Bank of China has implemented three relatively large monetary policy adjustments in terms of monetary and financial policies. First, we must increase the implementation efforts to make it effective. Second, we will further plan new incremental policies in accordance with the requirements of the Central Committee and the State Council.

3. Pan Gongsheng recently stated that the People's Bank of China will gradually reduce its focus on quantitative targets, pay more attention to the role of price-based regulatory tools such as interest rates, enrich the monetary policy toolbox, improve the policy communication mechanism, and enhance the transparency of monetary policy.

4. The Ministry of Commerce and the General Administration of Customs issued an announcement stating that in order to safeguard national security and interests and fulfill international obligations such as non-proliferation, with the approval of the State Council, it has decided to implement export controls on antimony and other items, which will officially take effect on September 15, 2024.

5. According to the statistics of the State Administration of Foreign Exchange, my country's foreign trade continued to grow rapidly in July, driving the net inflow of cross-border funds under the goods trade to increase by 48% month-on-month, the highest level in the same period in history;Net increaseDomestic bonds amounted to US$20 billion, up 1.4 times from the previous month. Overseas investors remain highly motivated to allocate RMB assets.

【Industry Hotspots】

1. Yesterday, two short stories were circulated in the market: one is that a certain bank received window guidance from the General Administration, and the scale of SPV+public offering investment within the bank cannot exceed 2.5% of the total asset scale, and 5% for large joint-stock banks. The second is that the regulator is preparing to issue a document to cancel the tax exemption system for interest rate bond funds and credit bond funds. In response to this, Cailianshe reporters once again conducted in-depth interviews with relevant regulatory departments and institutions, and the relevant rumors are untrue.

2. After research by Shanghai Planning and Resources Department together with Housing and Urban-Rural Development, Housing Management and other departments, starting from the fifth batch, Shanghai will implement the "Double High Double Competition" (two rounds of bidding, two rounds of bidding for high-quality construction standards) approach for commercial housing land transfer for plots with higher market popularity. That is, after the bidding completes the previous indicator requirement, it will move on to the next indicator requirement and adopt a gradient competition approach to ultimately achieve the goals of "one plan for one plot of high-quality construction" and "market-based allocation, the highest bidder wins".

3. The 1.252 billion yuan in deposits disclosed in the annual reports of Zhejiang Youce Investment’s three funds, which were kept in Chang’an Bank, were almost all transferred away. By July this year, the balance in the bank deposit account was only 86,000 yuan, and the fund manager also suspended subscription and redemption services.

4. The latest data shows that as of the end of July, there were 10.604 million charging piles in my country, a year-on-year increase of 53%. A total of 27,200 charging piles have been built in highway service areas across the country, basically achieving full coverage of all provinces in the country.

5. Due to the increase in production costs of new national standard construction steel products, many steel mills including Shaoguan Iron and Steel, Xiangtan Iron and Steel (Yangchun New Steel), Zhuhai Yuegang, Shenzhen Huamei, Guangdong Jinshenglan, Heyuan Derun, and Shengli Qingyuan have successively implemented a price increase of 50 yuan/ton for new national standard construction steel resources.

6. The Internet Security Department of the Public Security Bureau attaches great importance to the chaos of "fan circles" and continues to work with relevant departments to severely crack down on illegal and criminal activities in related fields in accordance with the law. During the Paris Olympics, the Internet Security Department closely followed the developments related to the Paris Olympics and effectively strengthened targeted work measures. Yesterday, the Ministry of Public Security announced four typical cases of cracking down on and rectifying illegal and criminal activities in "fan circles" in the sports field.

7. Tianyancha shows that recently, Shanghai Integrated Circuit Industry Investment Fund (Phase II) Co., Ltd. has undergone industrial and commercial changes, adding Shanghai Pudong Innovation Investment Development (Group) Co., Ltd. as a shareholder. At the same time, the registered capital has increased from RMB 7.6 billion to approximately RMB 14.53 billion.

8. The Jilin Provincial Department of Transportation and other three departments jointly issued the "Notice on the Implementation of Preferential Treatment for Hydrogen-Energy Vehicles on Jilin Provincial Expressways". The "Notice" pointed out that from 0:00 on September 1, 2024 to 24:00 on August 31, 2026, hydrogen-energy vehicles registered in Jilin Province equipped with ETC equipment can pass point-to-point free of charge between toll stations on various expressways in Jilin Province, and the corresponding expressway tolls will be paid by the provincial finance.

【Topic Company】

1、AlibabaThe group released its quarterly results ending June 30, 2024. Its revenue for the first quarter of 2025 was RMB 243.24 billion, a year-on-year increase of 4%.

2. Shenzhen Stock Exchange disclosed that the stock price of Dr. Glasses rose by 107% in 4 trading days, and the purchase by natural persons accounted for 85.23%. Dr. Glasses announced that the company provides fitting services for smart glasses lenses, but has not yet been involved in the research and development of smart glasses.

3. *ST Yaxing Announcement: Proposed TerminationA sharesListed and suspended.

4. Juewei Foods announced that it had received a notice of filing a case from the China Securities Regulatory Commission for suspected violations of laws and regulations in information disclosure.

5. Hesheng Silicon Industry announced that its former director and general manager Fang Hongcheng was sentenced to four years and six months in prison.

6、JD.comThe group released its second quarter and mid-year results for 2024, with revenue reaching RMB 291.4 billion in the second quarter and RMB 551.4 billion in the first half of the year, continuing to grow.

7. Ping An Bank released its 2024 semi-annual report, with a net profit of 25.879 billion yuan in the first half of the year, a year-on-year increase of 1.9%.

8. China Unicom Hong Kong announced on the Hong Kong Stock Exchange that the company's profit attributable to equity holders reached 13.8 billion yuan in the first half of the year, an increase of 11.3% year-on-year.

9. Xingxing Technology announced that the company’s cooperation with Huawei only continues the glass cover business and does not involve the folding screen business.

10. Shanwaishan announced that its shareholder Huagai Xincheng intends to transfer 7.0689 million shares, and the transferee will be allocated 10.02 yuan per share.

11. ST Lianluo announced that the company’s shares will be delisted on August 16.

12. ST Zhizhi announced that the China Securities Regulatory Commission decided to file a case against the company for suspected illegal and irregular information disclosure.

【Stock Market Dynamics】

1. The three major U.S. stock indexes closed higher, with the Dow Jones Industrial Average up 1.39%, the Nasdaq up 2.34%, and the S&P 500 up 1.61%. Large technology stocks rose across the board, with Tesla up more than 6%.AmazonUp more than 4%. Popular Chinese concept stocks rose across the board.NasdaqChina Golden Dragon Index rose 1.72%.

2. The settlement price of WTI crude oil futures rose by 1.53% to US$78.16 per barrel; the settlement price of Brent crude oil futures rose by 1.6% to US$81.04 per barrel.

3. COMEX gold futures closed up 0.34% at $2,494.5 per ounce; COMEX silver futures closed up 2.93% at $28.42 per ounce.

【Notice】

Juewei Foods: Received a case filing notice from the China Securities Regulatory Commission for suspected illegal information disclosure

Juewei Foods announced that the company received a "Notice of Case Filing" issued by the China Securities Regulatory Commission on August 15. 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.

Minmetals Development: The court ruled that the subsidiary debtor should be accepted for bankruptcy reorganization

Minmetals Development announced that its subsidiaries Minmetals Trade, Minmetals Logistics Lianyungang and Minmetals Wuxi Logistics Park received the "Civil Ruling" from the People's Court of Xiangshui County, Jiangsu Province, and learned that their debtors Xiangshui Juhe, Xiangshui Defeng and its parent company Jiangsu Delong were unable to repay their due debts and obviously lacked repayment ability. They have been ruled by the People's Court of Xiangshui County, Jiangsu Province to accept bankruptcy reorganization. The total amount of accounts receivable of the above-mentioned subsidiaries to Xiangshui Juhe, Xiangshui Defeng and Jiangsu Delong is approximately 129 million yuan, and the claims are mainly due to the prepayment of stainless steel products purchased from Xiangshui Juhe in the first half of 2024. The above matters will not have a significant adverse impact on the company's ability to continue operations.

Jibit: Net profit in the first half of the year decreased by 23.39% year-on-year; plans to pay 45 yuan per share

Jibit announced that in the first half of 2024, the company achieved operating income of 1.96 billion yuan, a year-on-year decrease of 16.57%;Public CompanyThe net profit of shareholders was 518 million yuan, a year-on-year decrease of 23.39%; it is planned to dividend 45 yuan (including tax) for every 10 shares.

China Eastern Airlines: Passenger turnover in July increased by 24.25% year-on-year

China Eastern Airlines announced that the company's passenger capacity input (measured in available seat kilometers) in July increased by 17.14% year-on-year to 115.57% of the same period in 2019; passenger turnover (measured in passenger kilometers) increased by 24.25% year-on-year to 117.3% of the same period in 2019; the passenger load factor was 83.18%, an increase of 4.76 percentage points year-on-year, and the passenger load factor was 81.95% in July 2019. In July, cargo and mail turnover (measured in cargo and mail ton-kilometers) increased by 45.5% year-on-year to 131.83% of the same period in 2019.

Zhuhai Guanyu: Net profit in the first half of the year decreased by 27.53% year-on-year

Zhuhai Guanyu announced that its operating income in the first half of the year was 5.347 billion yuan, a year-on-year decrease of 2.31%; the net profit attributable to shareholders of the listed company was 102 million yuan, a year-on-year decrease of 27.53%; and the basic earnings per share was 0.09 yuan.

Guangzhou Restaurant: Net profit in the first half of the year decreased by 30.37% year-on-year

Guangzhou Restaurant released its performance report, achieving operating income of 1.912 billion yuan in the first half of the year, a year-on-year increase of 10.29%; net profit attributable to shareholders of the parent was 55.7396 million yuan, a year-on-year decrease of 30.37%; basic earnings per share was 0.098 yuan.

Biotech: Net profit in the first half of the year increased by 23.54% year-on-year

Beike Bio released its semi-annual report, achieving operating income of 618 million yuan in the first half of the year, a year-on-year increase of 10.5%; net profit attributable to shareholders of listed companies was 138 million yuan, a year-on-year increase of 23.54%; basic earnings per share was 0.33 yuan.

Songjing shares: net profit in the first half of the year increased by 52.38% year-on-year

Songjing Co., Ltd. announced that in the first half of the year, the company achieved operating income of 323 million yuan, a year-on-year increase of 31.51%; the net profit attributable to shareholders of the listed company reached 40.7129 million yuan, a year-on-year increase of 52.38%.

Bailong Chuangyuan: The actual controller intends to increase the company's shares by 5 million to 10 million yuan

Bailong Chuangyuan announced that the actual controller and some directors and senior management plan to increase their holdings in the company's shares through centralized bidding transactions in the secondary market within 6 months from August 16. The total amount of increase will not be less than 5 million yuan and not more than 10 million yuan. There is no price range for this increase.

Yunzhongma: Chairman plans to increase company shares by RMB 6 million to RMB 10 million

Yunzhongma announced that its chairman and actual controller Ye Fuzhong intends to increase his holdings of the company's shares through methods permitted by the Shanghai Stock Exchange trading system (including but not limited to centralized bidding and block trading, etc.). No price range has been set for this increase, and the total amount of increase is not less than 6 million yuan and not more than 10 million yuan. On the same day, it was announced that the net profit in the first half of the year was 51.4307 million yuan, a year-on-year increase of 2.49%. It is planned to distribute a cash dividend of 1.3 yuan (including tax) per 10 shares to all shareholders.