Today's attention //
1. He Lifeng, Vice Premier of the State Council: Make every effort to ensure the timely delivery of real estate projects under construction
2. Vanke: The tax authorities inspected Yantai Vanke, and the company did not refuse to pay the accounts
3. The dividends do not comply with the new regulations, and more than 1,000 companies will be verified by ST
4. CNNC: The company has no relationship with CNNC titanium dioxide
5. The well-known film and television giant declared bankruptcy, and there was only 371 yuan left in the account
6. Well-known early education institutions ran away, and the industrial chain of professional store closures surfaced
7. Israel Stock Exchange: The market is not expected to have huge redemptions
Macro Policy //
1. He Lifeng, Vice Premier of the State Council: Make every effort to ensure the timely delivery of real estate projects under construction
He Lifeng, Vice Premier of the State Council, conducted a survey on real estate work in Zhengzhou from April 13 to 14 and presided over a symposium. He Lifeng stressed that it is necessary to further understand the importance of doing a good job in real estate, accelerate the implementation of the urban real estate financing coordination mechanism, and actively give financial support to compliant real estate projects that meet the requirements of the "white list", so as to ensure that the project is completed and delivered on time, effectively protect the legitimate rights and interests of buyers, stabilize expectations, and promote the stable and healthy development of the real estate market.
He Lifeng pointed out that the relationship between supply and demand in the mainland real estate market has undergone major changes, and it is necessary to speed up the construction of a new model of real estate development, do a good job in the construction of the "three major projects" of affordable housing, urban village transformation, and "flat and emergency dual-use" public infrastructure, and pay close attention to solving the blockages in the implementation of the urban real estate financing coordination mechanism, strengthen the supervision of projects under construction, ensure project financing, and ensure the quality of construction and on-time delivery. It is necessary to improve the "white list" system for compliant real estate projects, and "make every effort to make progress". For projects included in the "white list", financial institutions should optimize the loan approval and disbursement process, speed up the speed of lending, and support the completion of project construction. For projects that do not meet the requirements of the "white list" for the time being, we should pay close attention to coming up with targeted solutions. For development loans and pre-sale housing funds, it is necessary to optimize account management and fund supervision, ensure closed operation, and strictly prevent misappropriation in violation of regulations.
2. Tianjin Municipal Party Committee Financial Work Conference: Actively explore effective ways and methods to resolve debts and revitalize assets
The Tianjin Municipal Party Committee's Financial Work Conference was held recently. The meeting demanded that we should effectively prevent and resolve economic and financial risks, thoroughly implement the central package of policies, make good use of the living water of the financial market, actively explore effective paths and methods to resolve debts and revitalize assets, optimize and improve the investment and financing management system, promote the market-oriented reform and transformation of financing platform companies by category, strengthen the fine management of fiscal revenue and expenditure, and maintain the steady operation of the financial market.
China Bond Alert //
1. Vanke A: A package of stable operation and debt reduction plans has been formulated, which can properly resolve the phased pressure
Vanke A said that at present, Vanke has indeed encountered phased operational difficulties, and its liquidity is under pressure in the short term. However, the company has formulated a package of plans to stabilize operations and reduce debt, which can properly resolve these periodic pressures. The company is confident that the company's debt scale will drop by 100 billion yuan this year and next year, the debt risk will be substantially resolved, and all projects of Vanke Group will be guaranteed to be delivered on time and with high quality.
China Stock Alert //
1. The market value of A-shares lifted this week exceeded 38 billion yuan, and Yingli Automobile ranked first in terms of market value
This week, 56 restricted shares will be lifted in the domestic market, and the market value of the restricted shares will be 38.326 billion yuan according to the latest closing price, a decrease of 26.81% from the previous month. From the perspective of the scale of individual stocks, the top three stocks in terms of market capitalization are: Yingli Automobile (6.546 billion yuan), Nuohe Zhiyuan (3.852 billion yuan), and Huashu Hi-Tech (3.06 billion yuan).
2. The dividends do not comply with the new regulations, and more than 1,000 companies will be verified by ST
According to CSI Taurus, some market participants said that "more than 1,000 companies in A-shares will be ST due to low dividend amounts". Combined with the new regulations and interviews with professionals, it was found that the aforementioned analysis methods and conclusions were wrong, and it is expected that more than 80 companies will touch the ST standard. In addition, considering that the disclosure of annual reports has not yet ended, and the rules will only be applied for the first time in 2025, it is expected that the company will enhance investor returns through dividend buybacks and other means, and the actual impact will be smaller.
3. Vanke A: The tax authorities inspected Yantai Vanke, and Vanke did not refuse to pay the accounts
Vanke A stated that the tax authorities had inspected Yantai Vanke, and that Vanke had not refused to pay the accounts, and that the tax authorities had not determined that Yantai Vanke had the subjective intention to evade taxes, and that there was no so-called private interest of Vanke's management team in the cooperation project. Vanke Group is filing a civil lawsuit with the court and filing a criminal report to the public security organ for the defamation of the company and the chairman of the board of directors on the Internet in April 2024.
At the same time, Vanke A responded to the rumor that "the vice president and above of the group were under border control", saying that the group's management was traveling normally abroad, and the group's president Zhu Jiusheng returned from Hong Kong on April 14 to inspect the project, and Zhu Baoquan, the group's co-president, flew to Japan for business inspection. Cai Ping, the former senior partner of Central China, whose child was born in the United States, is now at the stage of receiving education and needs family companionship, and he submitted his resignation in 2023 and obtained the company's consent. Wang Runchuan, the former lead partner of the Headquarters Collaboration Center, resigned due to his study in Hong Kong and currently lives in Shenzhen.
4. The net investment income of A-share companies fell by 13%, and two percent suffered losses
According to Yicai, in order to improve the efficiency of capital utilization, listed companies generally use idle funds for investment and financial management, some are keen to buy cash wealth management, and some prefer to buy and sell stocks in the secondary market, resulting in huge differences in investment returns. Overall, the net investment income of A-share listed companies that have released annual reports in 2023 will decline year-on-year. As of the evening of April 13, 1,558 companies disclosed their net investment income in 2023, with a total amount of 958.95 billion yuan, a year-on-year decrease of 12.8%, of which 298 had a loss in net investment income, accounting for about two percent, and some companies lost money due to stock speculation.
5. CNNC: The company has no relationship with CNNC titanium dioxide
CNNC issued a statement saying that CNNC Titanium Dioxide has no affiliation or equity relationship with the company, nor does it have any investment, cooperation and other relationships, and all its actions have nothing to do with CNNC. Previously, the matter involved the violation of the 5.3 billion yuan fixed increase of China Nuclear Titanium Dioxide, and the company's actual controllers Wang Zelong, CITIC Securities and Haitong Securities were all investigated by the Securities Regulatory Commission.
6. Tencent Cloud reviewed the fault on April 8: The outage time was nearly 87 minutes, and 1,957 customers reported the fault
Tencent Cloud released a fault review and explanation on April 8, saying that at 15:23 on April 8, the Tencent Cloud team received an alarm message that the cloud API service was in an abnormal state. The outage lasted nearly 87 minutes, during which a total of 1,957 customers reported the outage to Tencent Cloud.
7. Dengyun shares: planning to acquire a controlling stake in Speed Technology, and the stock was suspended
Dengyun shares announced that the company is planning to issue shares and pay cash to acquire a controlling stake in speed technology, due to the uncertainty of related matters, the company's shares have been suspended since the market opened on April 15.
Dengyun shares also announced that the company recently received the "Explanation and Letter of Apology on the Trading of Dengyun Shares" issued by Ye Zhi, chairman of the board of supervisors, and learned that Ye Zhi's spouse Yi Chang had bought and sold the company's shares from April 10 to April 11, which constituted short-term trading. The profit generated by Yichang in the above short-term trading is 160 yuan. Yichang deeply recognizes the adverse impact of this illegal short-term trading on the company and the market, and apologizes to the company's investors.
8. Tianji shares: the wholly-owned subsidiary temporarily suspended production for quality improvement and expansion transformation
Tianji Co., Ltd. announced that its wholly-owned subsidiary, Xinte Chemical, has implemented temporary shutdown since April 15 to carry out technical transformation and expansion, and is expected to stop production until the end of May, and the specific resumption time will be determined depending on the transformation of the project.
9. TD Optics: One of the actual controllers intends to reduce their holdings of no more than 1% of the company's shares in total
TD Optics announced that Hu Huiling, a shareholder of the company, holds 28.008 million shares of the company, accounting for 4.48% of the company's total share capital, and Hu Haoheng, a shareholder and director of the company, holds about 10.1844 million shares of the company, accounting for 1.63% of the company's total share capital. Hu Huiling and Hu Haoheng plan to reduce their holdings through centralized auction transactions and/or block trading, and the total number of shares of the company will not exceed 624.60 shares, that is, no more than 1.00% of the company's total share capital.
10. Daye Intelligence: Terminate the issuance of shares to specific objects
Daye Intelligent announced that after comprehensively considering many factors such as the current capital market policy changes, the company's development plan and the market financing environment, the company decided to terminate the issuance of A shares to specific targets after full communication and prudent analysis by relevant parties. The company released the first quarter report of 2024 on the same day, and achieved a net profit of 5.7864 million yuan in the first quarter, a year-on-year turnaround.
11. Tiandiyuan: the contracted sales amount in the first quarter decreased by 40.52% year-on-year
Tiandiyuan announced that from January to March, the company achieved a contracted sales area of 71,200 square meters, a year-on-year decrease of 55.75%, and a contracted sales amount of 155,471.07 million yuan, a decrease of 40.52%.
Overseas Warning //
1. The "currency circle" shook again, and Bitcoin once fell below $60,000 per coin
On April 14, there was another huge earthquake in the "currency circle", and Bitcoin once fell below $60,000 per coin. Against the backdrop of financial market turmoil and geopolitical tensions, risky assets such as bitcoin have been sold off. It's worth noting that Bitcoin will usher in a "halving" around April 20, which refers to halving Bitcoin mining rewards to limit supply.
2. Israel Stock Exchange: The market is not expected to have huge redemptions
The Israel Stock Exchange does not expect huge redemptions in the market. Earlier, Iran launched a large-scale attack on Israel.
3. The United States and the United Kingdom imposed sanctions on Russian metals, restricting the trading of copper, aluminum and nickel
According to CBN, the United States and the United Kingdom announced new trading restrictions on Russian aluminum, copper and nickel. The new rules prohibit the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) from accepting new Russian metals aluminum, copper and nickel, all of which are banned on or after April 13. In addition, the United States has banned the import of these three metals from Russia.
Financial Interbank Warning //
1. The central bank held a meeting to promote the optimization of payment services in Jiangsu
The central bank held a meeting to promote the optimization of payment services in Jiangsu, requiring financial institutions in Jiangsu to focus on key tasks, implement precise policies and make targeted efforts, continue to promote the transformation of bank card acceptance, improve the cash use environment, optimize mobile payment and account services, continuously enrich the supply of payment services, and strive to improve the multi-level and diversified payment service system.
2. There are frequent "oolongs" in fund letters, and about 30 "mistakes" during the year
Fund credit is frequently "oolong". Recently, fund companies have announced the correction of the content of annual reports in some of their products, setting off a storm of annual report corrections in the industry. According to incomplete statistics, up to now, more than 390 announcements involving content corrections have been issued since the beginning of this year, covering 50 products under about 30 fund managers. These bulletins deal with a variety of types of issues, with numerical errors, typographical errors, and omissions of important information being the three most common types. Industry insiders pointed out that the letter disclosure is the cornerstone of ensuring the openness and transparency of public funds, and it is also an important means to protect the rights and interests of investors, which needs to be paid more attention.
3. The performance differentiation is serious, and these new funds are "born at the right time"
Under the market structure, the performance of active equity funds is significantly differentiated. Even if the new fund has not been established for a long time, the difference between the beginning and the end of the performance is very large, and the differentiation between the beginning and the end has reached more than 65 percentage points. Some of the new funds have a good grasp of the main line of the market, and the yield has exceeded 30% since its establishment. Although some sub-new funds have built positions relatively quickly, they have fallen significantly since their inception due to the weak performance of investment themes or the sector correction and facing losses.
4. The former chairman of Xinhua Insurance was rumored to be missing, and insiders said that they did not know the specific information
According to the brokerage China, the news of the disappearance of Li Quan, the former chairman of Xinhua Insurance, has attracted attention from the industry. Xinhua Insurance said that the specific information is not yet known. Company insiders expect that relevant executives may cooperate with the relevant departments in the investigation, and it is uncertain whether there will be further impact. At present, there is no official news about Li Quan.
5. Some small and medium-sized banks were acquired
The reform of village and township banks continued to advance, and some small and medium-sized banks were acquired. According to the information disclosed on the official website of the State Administration of Financial Regulation, Hengfeng Bank has been approved to acquire Chongqing Jiangbei Hengfeng Village Bank and set up Hengfeng Bank Chongqing Dashiba Branch.
Industry Warning //
1. Buying money in large sums of money is only for money laundering!
The Fengtai Branch of the Beijing Municipal Public Security Bureau said that in recent days, the police have smashed a number of black and gray industry gangs in a row and seized 15 suspects. It has been learned that this gang of suspects organized "canons" to withdraw cash at counters and ATMs by purchasing investment gold bars, which is exactly the usual method used by criminals to transfer funds involved in telecommunications fraud.
2. Well-known early education institutions ran away, and the industrial chain of professional store closures surfaced
Recently, the frequent closure of "Gymboree" early education institutions has attracted a lot of attention, and many parents said that there is a "third party" to carry out online and offline communication and coordination. It is understood that these third-party groups are known as "professional closed-store people". Some professional store closures said that from the change of legal representative to the closure of the store, a store service fee of about 120,000 yuan. There are also professional closers who say that their fees are calculated based on the company's debt ratio, which is generally about 5% of the total debt.
3. "Dr. Copper" soared, causing the market to worry about inflation
Since the beginning of this year, copper prices have risen by more than 10%, zinc and nickel have risen by more than 5%, aluminum prices have risen by nearly 4%, and tin prices have soared by 26%, once again triggering market concerns about inflation. It is worth noting that institutions are almost unanimously bullish on copper prices, and some institutions even shouted that the bull market for copper will last for 3 years, rising to $12,000.
4. The well-known film and television giant declared bankruptcy! There are only 371 yuan left in the account
According to the China Securities Journal, the former A-share film and television giant is now bankrupt, with a bank account balance of only 371.07 yuan. In April 2014, Inji Media went public through backdoor Gaojin Food, known as "the only global high-concept entertainment brand IP trader in A-shares", and its stock price soared. However, since 2018, the company's performance has been thunderous, and the restructuring has failed, and the listing was finally terminated because the daily closing price was lower than 1 yuan for 20 consecutive trading days.
5. Coke fell 5.6% month-on-month to 1684.3 yuan/ton in early April, a record low
According to data from the National Bureau of Statistics, as of early April 2024, the price of coke (quasi-first-class metallurgical coke) in the circulation field fell by 5.6% month-on-month to 1684.3 yuan/ton, a record low.
6. Tesla's self-driving taxi plan has been questioned, and regulators have not received relevant license applications
Tesla CEO Elon Musk has announced that it will release a robotaxi product in August, but both the California DMV and the CPUC have said that Tesla has not yet applied for any relevant licenses. Waymo, a spin-off of Google's self-driving car division, applied in December 2022 and obtained a CPUC license eight months later, which shows that obtaining a license is not an easy task.
7. Cocoa beans have become "golden beans", and cocoa futures prices have reached a new high
Cocoa beans have become "golden beans", and cocoa futures prices have hit a record high. Between July 2022 and February 2024, the cost of cocoa beans soared by 136%. On April 12, 2024, cocoa futures in the New York market closed at $10,475/mt, compared to less than $3,000/mt a year ago.
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