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Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener

Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener

Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener

NO.1 Market News

The three major U.S. stock indexes closed mixed, with the Dow down 0.22%, the Nasdaq up 0.31%, the S&P 500 down 0.06%, and most of the large technology stocks rose, with Apple and Nvidia up more than 2%, Amazon, Google, and Tesla up more than 1%. Digital music and streaming media were among the top gainers, with Spotify up more than 2% and Sony up more than 1%. Most of the popular Chinese concept stocks fell, Weibo fell more than 3%, Tencent Music fell more than 2%, JD.com, NetEase, iQiyi, and Bilibili fell more than 1%, and Alibaba, Vipshop, Li Auto, and Baidu fell slightly. Weilai and Xiaopeng Motors rose more than 1%, and Pinduoduo and Futu Holdings rose slightly.

European stocks closed mostly higher, with Germany's DAX up 0.79%, Britain's FTSE 100 down 0.31%, France's CAC 40 up 0.74%, and Euro Stoxx 50 up 0.85%.

The dollar index, which measures the greenback against six major currencies, rose 0.33% on the 5th to close at 104.051 at the end of the session. At the end of the New York market, the euro was worth $1.0784, down from $1.0828 in the previous session, and the pound was worth $1.2583, down from $1.2622 in the previous session.

WTI crude oil futures for January delivery closed down $0.72, or 0.99%, at $72.32 a barrel, and Brent crude futures for February delivery closed down $0.83, or 1.06%, at $77.20 a barrel.

COMEX gold futures for February delivery closed down 0.29% at $2,036.30, and COMEX silver futures for March delivery closed down 1.45% at $24.546.

The onshore yuan closed at 7.1480 against the US dollar at 03:00 Beijing time, down 45 points from the previous trading day's overnight close. The trading volume was 22.548 billion US dollars.

NO.2 On December 5, according to the website of the Ministry of Finance, the relevant responsible comrades of the Ministry of Finance answered reporters' questions on issues related to Moody's downgrading China's sovereign credit rating outlook. A responsible comrade of the Ministry of Finance said that he was disappointed by Moody's downgrade of China's rating outlook and that Moody's worries were unnecessary. The impact of the downturn in the real estate market on the local general public budget and the budget of government funds is controllable and structural. Through the joint efforts of all localities and departments, the scale of local implicit debts has gradually decreased and the risks have been alleviated. China's economy has tremendous resilience and potential, and the fundamentals of long-term positive growth have not changed.

According to the official WeChat official account of China Chengxin International, on December 5, China Chengxin International issued an announcement to maintain China's sovereign credit rating of AA+g, with a stable rating outlook. CCXI believes that China's economy will still show strong resilience in 2023, the Chinese government's fiscal space will still be sufficient, and the additional issuance of government bonds will also free up disposable fiscal space for local governments. At the same time, the Chinese government's firm support for new drivers will support economic growth in the medium to long term, while abundant foreign exchange reserves and high coverage of short-term external debt will also provide good support for sovereign credit strength.

NO.3 On December 5, the State Administration of Radio, Film and Television released the announcement of the national key online micro-short drama planning and filing in November, showing that a total of 305 online micro-short dramas and 11,245 episodes were recorded in November. Among them, Beijing Wuwu Microvision Media Co., Ltd. filed 3 works in November, and the company's Wuwu Media Group is a well-known MCN organization. Hunan Happy Sunshine Interactive Entertainment Media Co., Ltd. has recorded 2 works, and the company is wholly owned by Mango Supermedia. In addition, Migu Digital Media Co., Ltd., a subsidiary of China Mobile Group, has filed 3 works. Zhongguang Tianxue Media Co., Ltd. filed "It's over! I'm surrounded by handsome guys!" that month, and the filing information shows that the series has a total of 60 episodes. (SSE News)

NO.4 On December 5, the Ministry of Education and the Ministry of Human Resources and Social Security held a meeting in Beijing to deploy the employment and entrepreneurship of the new college graduates. According to the statistics of the Ministry of Education, the number of ordinary college graduates in the country in 2024 is expected to reach 11.79 million, an increase of 210,000 year-on-year. The Ministry of Education requires the implementation of the "2024 National Employment and Entrepreneurship Promotion Action for College Graduates" to take multiple measures to promote the employment of college graduates. All localities and colleges and universities should allocate school-level employment staff in proportion. We will vigorously develop market-oriented and socialized employment channels, continue to carry out in-depth special actions for college secretaries and presidents to visit enterprises to expand jobs and promote employment, and promote the implementation of the "Ten Thousand Enterprises on Campus Plan" to provide more high-quality job information for graduates. (CCTV News)

NO.5 On December 5, the Intermediate People's Court of Deyang City, Sichuan Province, publicly pronounced a verdict on the bribery case of Zhang Wufeng, former member of the leading party group of the National Development and Reform Commission, former secretary of the leading party group and director of the State Food and Material Reserves Bureau, and sentenced Zhang Wufeng to 10 years in prison and a fine of 1 million yuan for accepting bribes. After the trial, it was ascertained that from 2003 to 2022, Zhang Wufeng took advantage of his position to illegally accept property totaling more than 16.47 million yuan, of which 1.6 million yuan had not been actually obtained at the time of the case.

NO.6 According to foreign media reports, Nicolas Puech, the heir to the founder of the Hermes brand, decided to transfer part of his property to a 51-year-old gardener from Morocco. In October 2022, Puich asked the lawyer to update the will and start the adoption process, wanting the Moroccan gardener to become the legal heir as an adopted son, and if the adoption is successful, the Moroccan gardener can inherit at least half of the property. This means that the gardener will receive a huge asset of at least 40 billion yuan, including an equity stake in Hermès. (per synthesis)

NO.7 On December 5, the Guangzhou Municipal Bureau of Housing and Urban-Rural Development issued opinions on the implementation of regulating real estate brokerage services, which pointed out that it is necessary to reasonably determine the fees for brokerage services. Real estate intermediaries should reasonably reduce the cost of housing sales and leasing intermediary services. Encourage the implementation of tiered pricing in accordance with the principle of higher transaction price and lower service rate. The intermediary service fee shall be shared by both parties to the transaction.

NO.8 Recently, it was rumored on the Internet that "one person spends nearly 100,000 to buy lottery tickets and 220 million does not need to pay taxes" has attracted widespread attention. According to Jiangxi Daily, on December 5, the winning lottery players came to the Jiangxi Provincial Fucai Center to claim the prize, and said: "I am the winner of the Happy 8 Grand Prix." He said that he had been buying lottery tickets for more than 5 years, and his family's financial conditions were good, and he would buy lottery tickets three or four times a week. According to the surging news, in response to some doubts on the Internet, a staff member of the propaganda department of the Jiangxi Provincial Welfare Lottery Distribution Center responded that the center has sorted out the questions on the Internet and will reply to these questions one after another. 

NO.9 Recently, a project called "Haikou Military Rest Compound" held a groundbreaking ceremony, which sparked heated discussions. The project claims to have a total investment of 60 billion yuan and a construction scale of 26,000 acres. On December 5, the "Haikou Release" issued a notice on the "Haikou Military Rest Compound" project, pointing out that the project, which claims to have a "construction scale of 26,000 acres", is suspected of land violations. The notice said that Delin Company was reported to have carried out the groundbreaking ceremony of the "Haikou Military Rest Compound" project in Cangdong Village, Chengxi Town, Longhua District, Haikou City, but there were serious problems in the construction scale and land use procedures of the project. (per synthesis)

NO.10 International News

According to Agence France-Presse, on the 5th, the official French daily revealed that France will freeze the property of Yahya Sinwar, the leader of the Palestinian Islamic Resistance Movement (Hamas) in the Gaza Strip, for six months. The sanctions were issued on November 30 and came into effect on December 5. (CCTV News)

On December 5, local time, some Israeli tanks have appeared in the towns of Carrara and Bani Suhail east of the southern city of Khan Younis, in the southern Gaza Strip. In addition, the Israeli military issued a statement saying that earlier in the day it had raided the "General Security Service" of the Palestinian Islamic Resistance Movement (Hamas) in Jebaliyah, in the northern Gaza Strip. (CCTV News)

On the evening of the 5th local time, the Israel Defense Forces announced on its official website that since the outbreak of the Palestinian-Israeli conflict on October 7, the death toll of Israeli troops has risen to 408. (CCTV News)

RIA Novosti reported on December 5, citing information from the press secretary of the chairman (speaker) of the Armenian National Assembly, Khachatryan, that the speaker of the Armenian parliament, Simonyan, and the Armenian delegation will not attend the meeting of the council and plenary session of the Parliamentary Assembly of the Collective Security Treaty Organization (CSTO) to be held in Moscow, Russia, on December 19. (CCTV News)

On December 5, RIA Novosti reported that Iran's Tasnim news agency reported that the Iranian president will visit Moscow, the capital of Russia, on December 7 and plans to hold a meeting with Russian President Vladimir Putin to discuss bilateral issues between Iran and Russia and the Palestinian issue. (CCTV News)

On December 5, local time, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a statement sanctioning 11 entities and 8 individuals in Belarus. The sanctioned entities include the Belarusian defense sector and state-owned enterprises, and the sanctioned individuals include the secretary general of the Belarusian Red Cross Society and others. (CCTV News)

On December 5, local time, the Peruvian Constitutional Court ordered the release of former President Alberto Fujimori. Fujimori was elected president of Peru in 1990 and was re-elected twice. In 2009, Fujimori was sentenced to 25 years in prison by the Peruvian Supreme Court for murder and kidnapping. (CCTV News)

NO.1 JAC (SH600418, share price 17.36 yuan, market value 37.9 billion yuan): JAC announced that the company previously publicly listed and transferred part of its assets, involving the inventory, fixed assets, projects under construction, buildings and land use rights of the three factories of the passenger car company, and the structures and equipment assets of the Xinqiao factory of the passenger car company, and the transferred assets were listed and traded in the form of three asset packages. On December 5, the company received the "Notice of Bidding Results", and NIO became the transferee of the first package of assets and the third package of assets, with a total transaction price of 3.158 billion yuan, and Hefei Hengchuang became the transferee of the second package of assets, with a transaction price of 1.418 billion yuan.

Comments: The move will have an impact on the production capacity and market competitiveness of companies such as JAC and NIO.

Huawei, JAC: A few days ago, China Merchants Securities released a special industry research report, mentioning that the smart model codenamed X6 cooperated by JAC and Huawei is a sedan model, and the price will reach one million yuan, and the benchmark model is Mercedes-Maybach, and the new car is expected to be launched in the fourth quarter of 2024. In this regard, the relevant person in charge of JAC told the "Daily Economic News" reporter: "We have not received the relevant notice. ”

Comments: The cooperation between JAC and Huawei will bring new competitiveness to the high-end smart car market. At the same time, the price of the new car and the benchmark model also show its positioning in the high-end market.

NO.2 Country Garden (HK02007, stock price HK$0.82, market value HK$23 billion): On December 5, it was reported that Country Garden carried out the latest organizational structure adjustment, merging 14 regional companies into 7 new regions. In response, a person close to Country Garden responded: "The news is true. The purpose of this adjustment is to further improve the adaptability of the organization and business, promote flat and efficient management, synergy and complementarity of available resources, and make every effort to ensure the realization of the strategic goal of 'guaranteed delivery'. (CSI Taurus)

Comments: The adjustment of organizational structure can improve the operational efficiency and resource allocation ability of the enterprise, and have a positive impact on the future development of Country Garden.

NO.3 Cargo Lala: On December 5, the Office of the Inter-Ministerial Joint Conference on the Collaborative Supervision of New Transportation Formats interviewed Cargo Lala, and reminded Full Bang Group, Didi Freight, Kuaigou Taxi, etc. The interview required the cargo lala to conscientiously implement the rectification requirements and effectively protect the legitimate rights and interests of truck drivers. (CCTV News)

NO.4 Zhuosheng Micro (SZ300782, share price 132 yuan, market value 70.5 billion yuan): Recently, a "price adjustment letter" about RF giant Zhuosheng Micro has been circulating in the market. On December 5, the company publicly responded to the price adjustment, saying that "in order to improve the efficiency of resource use more reasonably, it intends to adjust the price of individual models of products", which also confirmed the giant's price increase. (China Fund News)

NO.5 NIO (NIO, stock price $7.425, market capitalization $13.2 billion): On December 5, NIO said on an earnings call that it would release a new flagship model at NIODay on December 23. And open the mass market brand battery pack and battery swap station to partners. At present, the charging pile business has basically broken even, and there are also investors who are interested in NIOPOWER's independent financing, and NIOPower's independent financing is not ruled out. Li Bin, CEO of NIO, said that if NIO's cars were made entirely by itself, the manufacturing cost would drop by 10%.

Comments: NIO's continuous innovation in business model and strategic layout will benefit its competitive position in the electric vehicle market.

NO.6 Xingmin Zhitong (SZ002355, stock price 6.69 yuan, market value 4.2 billion yuan), *ST and Branch (SZ002816, stock price 11.98 yuan, market value 1.2 billion yuan): On the evening of December 5, Xingmin Zhitong, *ST and Branch respectively issued announcements saying that the actual controller Zhao Feng was investigated on suspicion of insider trading, and at the same time, Zhao Feng was also punished for false records in the financial report of Oriental Netpower.

Comments: The incident may have a negative impact on the reputation and market confidence of the two companies, raising questions and concerns among investors.

NO.7 Hengrun shares (SH603985, share price 33.85 yuan, market value 14.9 billion yuan): On the evening of December 5, Hengrun shares announced that they received a notice from the family of Chairman Cheng Lixin, who was criminally detained by the branch directly under the Changzhou Municipal Public Security Bureau on suspicion of insider trading. On the same day, the company learned that Zhang Yaya, general manager of Shanghai Runliuchi Technology Co., Ltd., a holding subsidiary, was assisting the investigation of the branch directly under the Changzhou Municipal Public Security Bureau. The specific circumstances of the case are yet to be further investigated by the public security organs. Hengrun shares fell directly in early trading on the same day. Previously, Hengrun shares rose by more than 94% in the 19 trading days from October 12 to November 7.

Comments: This news exposed a case of suspected insider trading, involving the top management of Hengrun shares, which has aroused public concern about insider trading and corporate governance issues.

NO.8 Tianqi Mould (SZ002510, share price 4.86 yuan, market value of 4.6 billion yuan): On December 5, Tianqi Mould announced that the controlling shareholder signed the "Share Transfer Intent Agreement" with Huaibei Jianjiu on the same day, and Huaibei Jianjiu intends to transfer a total of 162 million shares from the company's controlling shareholder, accounting for 17.18% of the company's total share capital. After the completion of the transfer of control and shares, Huaibei Jianjiu will become the controlling shareholder of the company, and the State-owned Assets Supervision and Administration Commission of Huaibei Municipal Government will become the actual controller of the company.

Comments: The transfer of shares by the controlling shareholder of Tianqi Mould will have an impact on the company's future development, and Huaibei Jianjiu as the transferee will also affect the company's equity structure and management personnel changes.

NO.9 Nvidia (NVDA, stock price $465.66, market capitalization $1.15 trillion): On December 5, Nvidia CEO Jensen Huang said in a meeting with Japanese Economy Minister Yasunori Nishimura that Nvidia will work with Japanese research institutions and enterprises to build an ecosystem related to AI technology in Japan to meet its demand for artificial intelligence powered by GPUs (graphics processing units). (The Paper)

Comments: The partnership will help Nvidia expand in the Japanese market and have a positive impact on the company's performance and market capitalization.

NO.10 Oriental Selection (HK01797, stock price 32.1 Hong Kong dollars, market value 32.58 billion Hong Kong dollars): Recently, Oriental Selection announced that it will launch cultural tourism products on December 10, and the online platform is Oriental Selection App. At present, more than 100 companies have finalized cooperation intentions and will soon settle in, including travel packages, attraction tickets, hotel packages, etc. It is reported that this is the first time that Dongfang Selection App has put such products on the shelves. According to the reporter's understanding, this part of the product will not be launched on other platforms for the time being. (Securities Times)

Comments: Oriental Selection's move is to cater to the current development trend of the tourism industry, and the addition of cultural tourism products will provide users with more choices.

On December 5, northbound funds sold a net of 7.521 billion yuan. In the list of stocks with active northbound capital transactions, a total of 8 stocks were net purchased, and the largest amount was Kunlun Wanwei (300418. SZ, closing price: 36.94 yuan), net buying 381.8 million yuan, net selling a total of 12 stocks, the largest amount is Wuliangye (000858.SZ, closing price: 142.67 yuan), net selling 686.2 million yuan.

Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener

On December 5, southbound funds bought a net of HK$4.562 billion. In the list of stocks with active southbound capital transactions, there were 4 net buying stocks, and the largest amount was CNOOC (0883. HK, closing price: HK$12.84), with a net purchase of HK$367.4 million, and a total of 6 individual stocks were net sellers, with the largest amount being Hong Kong Stock Exchange (0388.HK, closing price: HK$253.6), with a net sale of HK$626.2 million.

Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener
Morning Finance丨Tens of billions of cattle stocks announced late at night, the chairman was criminally detained, the winner of the 220 million lottery jackpot showed up to redeem the prize, Weilai purchased JAC assets for more than 3.1 billion, and the heirs of Hermes decided: 40 billion assets were left to the gardener

Industrial Securities: Since 2023, the operation of the home appliance sector has continued to improve, and its profitability has steadily increased. In the future, consumption will gradually recover, and domestic sales of household appliances are expected to continue to grow steadily. It is recommended to have stable fundamentals and high allocation value of white electric faucets and export chain labels with alpha attributes. 1) Recommend white electric faucets with high defensive attributes and strong performance certainty: Haier Smart Home and Midea Group; 2) Recommend brands that benefit from export recovery: Roborock, Hisense Video, etc.; 3) It is recommended to pay attention to the subdivision track leaders Ecovacs, Xiaoxiong Electric, etc.

Every reporter: Fan Qianqian

Edited by: Hu Ling, Yin Hualu

Disclaimer: The content and data of the article are for reference only and do not constitute investment advice. Investors act accordingly at their own risk.

National Business Daily

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