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this morning, a-shares rose and then fell. as of the close, the shanghai composite index fell 0.05%, the shenzhen component index fell 0.08%, and the chinext index rose 0.32%.

on the market, hainan local stocks exploded, setting off a surge in daily limit. the new energy track continued to rebound, with photovoltaic concept stocks showing the strongest trend. huawei concept stocks continued to rise near the morning close. liquor, insurance, consumer electronics and other sectors pulled back.

last week's short-term strong stocks continued to pull back in the morning. shanghai jiubai, kosen technology, laobaixing, lianchuang electronics and other stocks hit the daily limit. among them, laobaixing has hit the daily limit for three consecutive trading days. looking at the long-term, from august 30th to the present, in the 10 trading days, the stock hit the daily limit for 4 trading days, and the rest of the trading days were daily limit.

kweichow moutai, the "stock king", hits a new low

this morning, guizhou, the “king of stocks” moutai fell 1.93%, and its intraday share price fell to a low of 1,348.88 yuan, hitting a new low since mid-november 2022.

on september 9, kweichow moutai held a 2024 semi-annual performance briefing, and the company responded to market concerns. regarding dividends, the company stated that from 2024 to 2026, the total amount of cash dividends distributed by the company each year will not be less than 75% of the net profit attributable to the parent company in that year. in principle, the annual cash dividend will be implemented twice (annual and mid-term dividends). as for how to deal with the fluctuations in the terminal price of moutai, the company stated that moutai attaches great importance to the market situation. the company has conducted in-depth market research in various provinces and regions, held market work meetings in various provinces and regions, and held in-depth discussions with distributors, e-commerce, group purchases, provincial and regional self-operated and other channel representatives. continuously improve the strategic and tactical system that is both systematic and coordinated, and the overall market situation is relatively stable. in addition, the company stated that it will ensure that the annual operating income growth target of 15% is completed as scheduled. roughly calculated, the company has completed 48.2% of the annual growth target in the first half of the year.

recently, many brokerages have given kweichow moutai a "buy" or "overweight" rating. among them, donghai securities said that the company has a deep moat and steady performance growth, and its long-term allocation value is further highlighted after the regular dividend rate is increased.

hainan local stocks exploded

this morning, hainan haiyao hit the daily limit, ushering in 5 consecutive daily limits.it has become the stock with the most consecutive daily limit in the current market. its high-profile trend directly activated hainan local stocks. this morning, hainan local stocks exploded, and stocks such as kangzhi pharmaceutical and hainan ruize also hit the daily limit.

there have been two major policy benefits recently. first, on september 5, according to the ministry of finance’s official website, the ministry of finance, the national health commission, the general administration of customs, the state administration of taxation, the national medical products administration and other five departments issued the “notice on the “zero tariff” policy for drugs and medical devices in hainan free trade port” (hereinafter referred to as the “notice”).

the notice states that before the whole island is sealed off, medical institutions, medical colleges and universities, and medical research institutes registered and accredited as independent legal entities in the hainan boao lecheng international medical tourism pilot zone can be exempted from import tariffs and import value-added tax if they import drugs and medical devices specified in article 3 of the notice and use them in accordance with the provisions of this policy. relevant units that meet the conditions for enjoying the policy and import drugs and medical devices and voluntarily pay the import value-added tax can apply for tax reduction and exemption when handling tax exemption procedures.

second, on september 8, the ministry of commerce, the national health commission, and the national medical products administration issued a notice on launching a pilot program to expand opening up in the medical field.

the notice pointed out that in the field of biotechnology, from the date of issuance of this notice, foreign-invested enterprises are allowed to engage in the development and application of human stem cells, gene diagnosis and treatment technologies in china (beijing) pilot free trade zone, china (shanghai) pilot free trade zone, china (guangdong) pilot free trade zone and hainan free trade port for the purpose of product registration, listing and production. in the field of wholly foreign-owned hospitals, the notice pointed out that it is planned to allow the establishment of wholly foreign-owned hospitals (except for traditional chinese medicine hospitals, excluding the acquisition of public hospitals) in beijing, tianjin, shanghai, nanjing, suzhou, fuzhou, guangzhou, shenzhen and the entire island of hainan.

cro sector rebounds

this morning, the cro sector rebounded, with wuxi apptec rising 3.94%. at the same time, hong kong stocks wuxi apptec and wuxi biologics also rose significantly this morning.

following the previous two repurchases of a-shares totaling 2 billion yuan on february 5, 2024 and may 22, 2024, wuxi apptec disclosed its third plan to repurchase a-shares on the evening of september 10, intending to use 1 billion yuan of its own funds to repurchase shares and cancel them in order to maintain the company's value and shareholders' rights and interests and enhance investor confidence.

on the evening of september 11, wuxi apptec released an announcement on the progress of its share repurchase. on september 11, the company repurchased its shares for the first time through centralized bidding transactions, with the number of repurchased shares reaching 522,300 shares, accounting for 0.0179% of the company's total share capital as of the date of this announcement; the highest repurchase price was rmb 38.67 per share, the lowest repurchase price was rmb 37.37 per share, and the total amount of funds used was rmb 20.0077 million (excluding transaction fees).