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a-shares rose in late trading, with sectors such as finance and real estate moving higher. many csi 300 etfs increased their trading volume, but the turnover of the two markets returned to below 500 billion yuan. hong kong stocks were closed today due to a holiday.

specifically, the shanghai composite index once fell below 2,700 points during the session, but rose in the late trading driven by real estate, banking and other sectors, and the shenzhen component index also turned positive. as of the close, the shanghai composite index rose 0.49% to 2,717.28 points, the shenzhen component index rose 0.11% to 7,992.25 points, the chinext index fell 0.11% to 1,533.47 points, and the shanghai 50 index rose 0.58%; the total turnover of the two markets was 479.3 billion yuan, a decrease of 45.4 billion yuan from the previous trading day.

more than 3,600 stocks in the market were in the red. the pharmaceutical and healthcare sectors fell. intech medical fell by 20%, hainan haiyao, which had been on the daily limit for 6 consecutive days, fell by the daily limit, and kangzhi pharmaceutical fell by more than 10%. liquor stocks weakened again, and kweichow moutai fell by nearly 3%, continuing to hit a new low. the semiconductor sector was weak, and cambrian and haiguang information fell by more than 4%. the real estate sector rose in the afternoon, and china communications construction real estate, electronic city, zhangjiang hi-tech and other stocks rose by the daily limit. the coal sector rose, and shanxi coal international and pingmei co., ltd. rose by more than 5%. banks, securities companies, and insurance sectors all performed well, with guosheng financial holdings rising by nearly 5% and china life insurance rising by more than 3%. the concept of lithography machines exploded, and tongfei co., ltd. and wavelength optoelectronics rose by 20%, and xinlai materials and others rose by more than 10%; the home appliance sector rose, highly co., ltd. rose by the daily limit, and changhong meiling rose by more than 8%. it is worth noting that baobian electric moved significantly, performing a "ground-to-sky" trend during the session.

it is worth noting that many csi 300 etfs had a significant increase in intraday trading volume. among them, huatai-pinebridge csi 300 etf had a daily turnover of 3.96 billion yuan, ranking first among broad-based etfs; e fund csi 300 etf, huaxia csi 300 etf, and harvest csi 300 etf had turnover of 2.206 billion yuan, 1.406 billion yuan, and 1.213 billion yuan respectively. in addition, huaxia sse 50 etf had a turnover of 2.27 billion yuan; the total turnover of the above five etfs exceeded 11 billion yuan.

in terms of major news, china shipbuilding announced that the company's shares will be suspended from trading on september 3, 2024 due to the planning of a major asset reorganization, and will resume trading on september 19, 2024.

china shipbuilding: plans to merge with china heavy industry by share swap to resume trading tomorrow

china shipbuilding announced today that the company's stock will be suspended from september 3, 2024 due to the planning of major asset restructuring, and will resume trading on september 19, 2024. this major asset restructuring involves china shipbuilding absorbing china heavy industry by issuing a shares to all exchange shareholders of china heavy industry, which constitutes a related transaction and does not lead to a change in the actual controller.

the exchange price of china shipbuilding is determined at rmb 37.84 per share based on the average stock trading price of the 120 trading days before the pricing benchmark date. the average stock trading price of china heavy industry is determined at rmb 5.05 per share, and the exchange ratio is determined accordingly. the exchange ratio between china heavy industry and china shipbuilding is 1:0.1335, that is, every 1 share of china heavy industry can be exchanged for 0.1335 shares of china shipbuilding.

this is also the largest asset integration of china shipbuilding corporation five years after the merger of the two major groups of "north and south shipbuilding", marking a key step for china shipbuilding corporation to resolve the competition among peers in its main ship and marine business.

as of the close of september 2, the market capitalizations of china shipbuilding and china heavy industry were 156.088 billion yuan and 113.554 billion yuan, respectively. the joint integration of the two listed companies with a market capitalization of over 100 billion yuan is the largest m&a transaction in the a-share capital market in the past decade.

real estate and other sectors rose

the real estate sector rose in the afternoon. as of the close, 51home, china communications construction real estate, electronics city, zhangjiang hi-tech park and others hit their daily limit, teda services and shahe shares rose nearly 9%, and gemdale group rose more than 6%.

on the news front, the head of the relevant department of the people's bank of china recently stated that the people's bank of china will adhere to a supportive monetary policy stance to create a good monetary and financial environment for the economic recovery. monetary policy will be more flexible, moderate, precise and effective, increase regulatory efforts, speed up the implementation of the financial policy measures that have been issued, and start to launch some incremental policy measures to further reduce corporate financing and resident credit costs and maintain reasonable liquidity.

guojin securities pointed out that the main indicators of real estate in august are still bottoming out, and sales performance has been under pressure since september. recently, the central bank said that maintaining price stability and promoting a moderate price recovery are important considerations for grasping monetary policy; it has begun to launch some incremental policy measures to further reduce corporate financing and resident credit costs. the efforts of monetary policy and the decline in mortgage interest rates have positive significance for real estate, and we look forward to the decline in incremental and existing mortgage interest rates. we recommend state-owned real estate companies that benefit from deep cultivation in high-energy cities and focus on improving products.

high-dividend sectors such as coal, gas, and finance rose collectively. as of the close, dalian thermal power and hangzhou thermal power hit their daily limit, beijing energy heat rose more than 9%, shandong coal international and pingmei group rose more than 5%, and china life insurance rose more than 3%.

citic securities believes that the logic of allocating dividends remains unchanged. in an environment where economic fundamentals remain weak and long-term government bond interest rates continue to decline, dividend assets that can provide stable cash returns are still scarce assets, but we must avoid those with obvious negative expectations in their fundamentals.

the concept of lithography machine exploded

the concepts of lithography machines collectively exploded. as of the closing, tongfei co., ltd. and wavelength optoelectronics hit the 20% daily limit, xinlai materials and lanying equipment rose by more than 10%, haili co., ltd., optoelectronics, kaimet gas, jinghua laser and others all hit the daily limit, and jingrui electric materials and suda wei ge rose by nearly 7%.

on the news front, in order to promote the innovative development and promotion and application of the first major technological equipment, and strengthen the coordination of national support policies such as industry, finance, finance, and science and technology, the ministry of industry and information technology recently issued the "guidelines for the promotion and application of the first major technological equipment (2024 edition)". under the catalog of special electronic equipment, "integrated circuit production equipment" includes argon fluoride lithography machines with a light source of 193 nanometers, a resolution of ≤65nm, and overlay ≤8nm.

in addition, according to the patent announcement of the state intellectual property office, on september 10, shanghai microelectronics announced an invention patent "extreme ultraviolet radiation generator and photolithography equipment", which involves extreme ultraviolet radiation (euv) generator and photolithography equipment.

it is reported that euv lithography machines use extreme ultraviolet light with a wavelength of 13.5nm, which can achieve an exposure resolution of 8nm and are used in advanced process chip manufacturing; its technical difficulty lies in key subsystems such as optical systems and light sources. the patents disclosed by shanghai microelectronics mainly involve euv light sources and lithography equipment, among which the key extreme ultraviolet radiation generator (light source) mainly includes key components such as cavity, target material generator, laser generator, collection mirror, electrode plate, gas control components, etc.

minsheng securities pointed out that the continued high growth in overseas semiconductor equipment supply meets short-term production expansion needs, and domestic lithography machine technology is also continuing to make breakthroughs, which is beneficial to the long-term development of independent and controllable semiconductor equipment. it continues to be optimistic about the investment growth of domestic wafer fabs and the localization opportunities of domestic semiconductor equipment.

pharmaceutical stocks fall

the pharmaceutical sector showed weak performance during the trading session. as of the close, kangzhi pharmaceutical fell more than 10%, hainan haiyao hit the daily limit, shengnuo biopharma fell more than 9%, and sital and changyao holdings fell nearly 7%.

it is worth noting that hainan haiyao, which had been on the daily limit for six consecutive days recently, quickly plunged to the limit after opening. as of the close, the stock was priced at 4.89 yuan, with over 1 million orders placed on the limit.

the company warned last night that the recent short-term increase in the company's stock price was large, which was obviously deviated from the market trend, and there was a risk of overheated market sentiment. however, there were no major changes in the company's fundamentals, and there was no major information that should be disclosed but was not disclosed. the company has issued announcements on abnormal stock trading fluctuations for several consecutive days. investors are kindly requested to pay attention to the risks of secondary market transactions, make rational decisions, and invest prudently.

at present, the company's shareholding company hainan unicol biotechnology co., ltd. (hereinafter referred to as "unicole") is mainly engaged in human somatic cell preparation, storage, application technology research and drug development. its main business is cell preparation and storage. since unicol has been in the stage of r&d investment and market development, it has not yet made a profit. as of december 31, 2023, the company has made an asset impairment provision of rmb 1,714,944.81 for unicol's long-term equity investment. as of december 31, 2023, unicol's book value was rmb 0. there are uncertainties in the future related products in terms of technology research and development, competitiveness, etc., and the industry is affected by various factors such as future changes in market demand, industry and national policies, and there are also uncertainties.

the medical device sector also fell. as of the close, intech medical hit its 20% limit, while yangpu medical, zhonghong medical, and nanmo biotech fell by more than 7%.

on the news front, on september 13, 2024, local time in the united states, the office of the united states trade representative (ustr) announced the final revision of the four-year review of the us 301 tariffs on china. on the basis of continuing to impose tariffs, the tariff rates on some products will be increased, and the scope of tariffs will be further expanded. among them, medical gloves and other products have been subject to substantial tariff increases.

affected by this, the share prices of intech medical and others plummeted.

in response, intech medical told the media that the u.s. market accounts for about 35% of the company's revenue. therefore, the u.s. imposition of tariffs on related products will increase the export costs of some of the company's products. the policy may challenge performance in the short term, but there are still large variables in the future. if the united states imposes additional tariffs on china, the united states can only rely on malaysia to import (related products) in the future, then malaysia's share of the non-u.s. market will be vacated, and chinese manufacturers can seize the non-u.s. market. and if the united states imposes additional tariffs, it is bound to increase global glove prices, and it is hard to say what will happen in the end. in the short term, everyone is definitely worried, but the company's current business conditions are normal.