Per reporter: Yang Jian Per editor: Peng Shuiping
NO.1 The Premier of the State Council met with US Treasury Secretary Yellen in Beijing on the 7th. The premier expressed the hope that the US side will uphold a rational and pragmatic attitude, meet China halfway, and promote China-US relations to return to the right track at an early date. Strengthening cooperation is a realistic need and the right choice for China and the United States. The two sides should strengthen communication and seek consensus on important bilateral economic issues through frank exchanges, so as to inject stability and positive energy into China-US economic relations. Yellen said that the United States does not seek "decoupling and breaking the chain", and is willing to implement the consensus of the Bali meeting with China, strengthen communication, avoid misunderstanding caused by differences, strengthen cooperation in macroeconomic stability and global challenges, and seek mutual economic benefit and win-win results between the United States and China.
NO.2 On July 7, the State Administration of Foreign Exchange released data showing that as of the end of June 2023, the scale of mainland foreign exchange reserves was US$3,193 billion, an increase of US$16.5 billion or 0.52% from the end of May. The size of foreign exchange reserves in June was the second highest in the year, down only from $3,204,766 million in April. In addition, the central bank has increased its gold holdings for eight consecutive months, with gold reserves recording 67.95 million ounces in June. The SAFE said that in June, the combined effect of factors such as exchange rate translation and asset price changes led to an increase in the scale of foreign exchange reserves in that month. The mainland's economic recovery is obvious, and the steady progress of high-quality development is conducive to the continued basic stability of the scale of foreign exchange reserves.
NO.3 On July 7, the central bank, the State Financial Regulatory Administration and the China Securities Regulatory Commission jointly announced that most of the outstanding problems in the financial business of platform enterprises have been rectified. The focus of the financial management department has shifted from promoting the centralized rectification and reform of the financial business of platform enterprises to normalized supervision. In response to violations of laws and regulations by Ant Group and its subsidiaries in corporate governance, financial consumer protection, participation in business activities of banking and insurance institutions, payment and settlement business, performance of anti-money laundering obligations and fund sales business in the past year, the financial management department imposed fines and confiscation of 7.123 billion yuan on Ant Group and its subsidiaries, and on the same day, Tencent's Tenpay also received fines from the central bank, with a total amount of nearly 3 billion yuan. The central bank's fine shows that Tenpay Payment Technology Co., Ltd. was warned, and Wu, then head of the anti-money laundering and risk control department of Tenpay Payment Technology Co., Ltd., and four other people also received fines from the central bank.
NO.4 On July 7, the central bank formulated and issued the "Measures for the Administration of Deposit Accounts of the Central Bank". The Measures focus on strengthening risk management and control in key links, standardizing agency settlement and account security management requirements, which is conducive to reducing the risk of fund settlement in the central bank's deposit accounts and ensuring business continuity. The Measures make it clear that different types of domestic and foreign institutions, as well as domestic and foreign-funded institutions, will be treated equally, and fair and equal account services will be provided. The Measures require that account opening institutions shall handle the deposit account business of the Central Bank in strict accordance with relevant laws and regulations and the provisions of these Measures, and shall not forge or alter relevant legal documents or supporting materials to fraudulently open accounts; Do not rent or lend accounts to other units or organizations; Overdrafts, etc. of deposit accounts are not permitted.
NO.1 The 2023 World Artificial Intelligence Conference will be held in Shanghai from July 6 to 8, with more than 20 robots unveiled, including: a bipedal robot equipped with large model dialogue capabilities, Tesla humanoid robot Optimus Prime, Shangli Xiaobei 4.0, etc., many of which are debuts. Embodied intelligence is the vehicle for AI to enter the physical world for interaction. The intersection of robots and artificial intelligence is called intelligent robots, intelligent robots can interact with the outside world, according to their own perception of the outside world, decide how to complete the task. In recent years, with the continuous improvement of hardware and software computing power, major companies have successively launched AI large model algorithms, including OpenAI's GPT-4, Google's RT-1, PaLM-E, etc., which are expected to solve the problem of versatility of robots and usher in the rapid development of embodied intelligence.
Comments: Tesla Optimus software and hardware continue to be iteratively upgraded, the core is to optimize cost and efficiency. Tesla's humanoid robot Optimus is powered by an electric motor and has 28 actuators in its body. The expectation that the development of humanoid robots will bring opportunities to the domestic supply chain lies in the future price of Tesla Optimus' future product pricing of no more than 20,000 US dollars, Tesla's cost reduction appeal and the final C segment positioning mean that the continuous cost reduction demand, the domestic supply chain can meet Tesla's cost reduction demand. Concept stocks include Hanyu Group, Haozhi Electromechanical, Buke and so on.
NO.2 At the 2023 World Artificial Intelligence Conference, Huawei released the Pangu Big Model, and also released the Pangu Scientific Computing Big Model, which includes the drug molecule model, the Pangea Meteorological Model, and the Ocean Wave Model on the scientific computing model, and worked with scientists to achieve good results. Huawei has applied for the "Pangu Chat" trademark a few days ago, and at the developer conference held in July, the Pangu model will usher in a major upgrade. Since OpenAI released ChatGPT in November last year, artificial intelligence has attracted great attention around the world, and technology giants have laid out AI large models. From Microsoft to Google, from Huawei to Alibaba and Baidu, big models have become a focus area that cannot be avoided in the AI era. In the era of artificial intelligence, AI big models have become a battleground for soldiers, and Huawei has undoubtedly become an active promoter of domestic large models.
Comments: ChatGPT was officially released and quickly iterated to ChatGPT version 4.0. This has become a phenomenal product. ChatGPT completely ignited the AIGC war, and domestic technology giants have entered the game, from Baidu big model, to 360's wisdom brain, and Alibaba's Tongyi Qianwen, all highlighting domestic AI research capabilities. MIT Technology Review believes that AIGC is one of the top ten breakthrough technologies in 2022, and even regards it as the most promising development of AI in recent years. The market size of AIGC is expected to usher in explosive growth, and the market size is expected to catch up with the trillion level in 2030. Concept stocks include Runhe Software, Tolls, Topway Information, etc.
NO.3 Recently, the country has encountered rare high temperature weather. On July 7, the Central Meteorological Observatory continued to issue a high temperature orange warning, North Central and Eastern China, Huanghuai, Gansu Central and Western, Ningxia and other places have 35 °C and above high temperature weather, Hebei, Beijing, eastern and southern Zhejiang and other places will reach 37~39 °C, some parts of Henan appeared 40 degrees high temperature. El Niño is a natural climatic phenomenon, mainly due to warming of the ocean surface in the central and eastern Pacific Oceans, and a series of effects on global weather. El Niño usually lasts 9-12 months, and El Niño will cause hot weather across the country and affect precipitation in local areas, which will have an impact on electricity demand.
Comments: It is expected that this year's electricity peak will also appear in advance, and some southern provinces may have a shortage of electricity in the future. According to the National Energy Administration, the country's largest power load this year may exceed 1.36 billion kilowatts, an increase of 8% year-on-year from 1.26 billion kilowatts in 2022. Recently, the maximum load of the power grid in the five southern provinces and regions has approached the historical peak, and the power supply pressure has increased sharply, while Guangdong Province is ensuring the supply of electricity in the province through demand-side response and foreign power dispatch. El Niño has led to high summer temperatures placing higher demands on the grid as well as virtual power plants. Concept stocks include Canaan Intelligence, Accuray, National Energy Rixin and so on.
Hongbo (002229): Hongbo recently released a 2023 restricted stock incentive plan. The incentive plan is mainly for the subsidiary InBev Digital, of which Zhou Weiwei, deputy general manager of Hongbo Co., Ltd. and general manager of InBev Digital, was granted 1 million shares. This is the second time that Zhou Weiwei has received equity incentives. In December last year, Hongbo released the second restricted stock incentive plan for 2022, and Zhou Weiwei was granted 850,000 shares. Since the beginning of this year, Hongbo shares have stepped on the AI outlet, and the stock price rose by 427.52% in the first half of the year, and the market attention has also focused on InBev Digital, a subsidiary closely linked to NVIDIA. And Zhou Weiwei, who can connect with the giant NVIDIA and served as a senior vice president of 36Kr, played a key role.
Ruida (688800): The company recently signed the "Investment Agreement" with the Management Office of Jiangsu Taizhou Port Economic Development Zone and Taizhou Gaogang High-tech Zone Development and Construction Co., Ltd., the company agreed to transfer 100% of the equity of Feitai Electronics, and after obtaining 100% of the equity of Feitai Electronics, it will acquire the assets of Yangtai Electronics through judicial auction in the name of Feitai Electronics, and after successful bidding, Yangtai Electronics will be updated and transformed on the relevant production lines, and the relevant production equipment will be added and moved into the relevant production equipment. In order to build a high-performance battery integrated busbar module, flexible circuit, new energy high-voltage cable R & D and production base. The first phase of the project plans to invest 1 billion yuan, and it is planned to partially put into production by the end of 2023 and reach production by the end of 2026.
FII (601138): On the evening of July 7, FII announced that the company completed the election of the board of directors and the board of supervisors on the same day, Zheng Hongmeng, Li Junqi, Liu Junjie, Ding Zhaobang were elected as non-independent directors, Li Xin, Li Dan, Liao Cuiping were elected as independent directors, and the new board of directors elected Zheng Hongmeng as the chairman and hired Zheng Hongmeng as the general manager, which means that the company's original chairman Li Junqi will no longer serve as the chairman of the industrial federation.
Guangdong Power A (000539): The company issued an announcement that it expects a net profit of 800 million yuan to 950 million yuan in the first half of the year, compared with a loss of 1.372 billion yuan in the same period last year, turning losses into profits year-on-year. The company's power generation and grid electricity have steadily increased, and the power generation income has increased significantly. The thermal power business benefited from lower fuel prices, profitability recovered, and the new energy business maintained stable earnings. Q1 net profit is 88.4295 million yuan, according to this calculation, Q2 net profit is expected to be 712 million yuan to 862 million yuan, an increase of 705% to 874% from the previous month.
AVIC Optoelectronics (002179): The company announced that it plans to invest 2.72 billion yuan to purchase land in Luoyang City to build a high-end interconnection technology industrial community project, which aims to focus on improving the R&D and production capacity of micro-small and low-profile integrated transmission connectors and components, optical transmission devices and components, microwave photonic devices and components, liquid-cooled heat dissipation components and equipment.
Asia-Pacific shares (002284): The company issued an announcement that it is expected that the net profit attributable to the parent in the half year of 2023 will be 65 million yuan to 73 million yuan, a year-on-year increase of 102.53% to 127.45%. Benefiting from the improvement of the domestic economy and the improvement of overseas market demand, the company grasped market opportunities, continued to optimize product structure, and achieved good growth in product sales, while the company continued to promote internal cost reduction and efficiency improvement, process optimization and other work, effectively improve manufacturing capacity, reduce unit costs, and increase product gross margin year-on-year, promoting the steady growth of the company's performance.
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