Macro news
1. On the afternoon of the 23rd, Xi Jinping presided over a symposium on promoting the development of the western region in the new era in Chongqing and delivered an important speech. Xi Jinping stressed that it is necessary to adhere to the development of characteristic and advantageous industries as the main direction of attack, develop emerging industries in accordance with local conditions, and accelerate the industrial transformation and upgrading of the western region.
2. Foreign Ministry Spokesperson Wang Wenbin held a regular press conference yesterday. A reporter asked that the United States has reportedly been drafted sanctions that could cut off some Chinese banks from the global financial system. Wang Wenbin said that China firmly opposes the hypocritical practice of the US side to add fuel to the fire while shifting the blame to China. China's right to conduct normal economic and trade exchanges with other countries, including Russia, is inviolable, and China will firmly defend its legitimate rights and interests.
3. Recently, the yield of long-term treasury bonds has continued to decline, of which the yield of 30-year treasury bonds has fallen below 2.5%. The head of the relevant department of the People's Bank of China believes that the yield of long-term government bonds will generally run within a reasonable range that matches the long-term economic growth expectation. The person in charge also said that the central bank to carry out treasury bond trading in the secondary market, which can be used as a liquidity management method and a reserve of monetary policy tools.
4. The National Development and Reform Commission and the Ministry of Finance have completed the screening of local government special bond projects in 2024, and a total of about 38,000 special bond projects have been screened and approved, and the demand for special bonds in 2024 will be about 5.9 trillion yuan, laying a solid project foundation for the issuance and use of 3.9 trillion yuan of special bonds this year.
Industry news
1. From now on, the Cyberspace Administration of China will launch a two-month nationwide special action of "Clear and Clear, Rectify 'Self-Media' without Bottom Line". Focus on the "self-media" that have no bottom line to create hot spots, create prominent problems such as "information traps" that confuse the real with the false, and mix the real with the false, and strictly rectify the "self-media" that ignore the public interest, violate public order and good customs, disrupt public order, and do whatever it takes for the sake of traffic and lose the bottom line.
2. Xiaomi's car manufacturing was blocked, and Huawei's Hongmeng Zhixing store sales said that they only need to show the Xiaomi SU7 lock order page to enjoy the subsidy. The reporter of the Financial Associated Press also learned from the sales office of the Weilai store that Weilai will also provide a subsidy of 5,000 yuan for the owner of the Xiaomi SU7 who transfers the order. In addition to Hongmeng Zhixing, such as ideal, Xiaopeng and other store sales, said that the model price has been adjusted accordingly, and the discount has been very large.
3. The results of the insulin procurement were announced, a total of 53 products from 13 companies participated in the continuous procurement, and 49 products were qualified for the selection, with a selection rate of 92%, and the results of the continuous procurement will be implemented nationwide in May. The price of the selected price in this continuous procurement decreased steadily, and it decreased by 3.8% on the basis of the price reduction in the first round of centralized procurement.
4. The Xiamen Municipal Bureau of Housing and Construction, the Xiamen Municipal Human Resources and Social Security Bureau, and the Xiamen Municipal Finance Bureau jointly issued a notice to issue the "Implementation Plan for Providing Free Accommodation Guarantee for College Students Seeking Jobs and Internships in Xiamen", and eligible college students can enjoy free accommodation for up to 12 months.
5. Yu Chengdong, Executive Director of Huawei, CEO of Device BG, and Chairman of Intelligent Vehicle Solution BU, said at the press conference that the starting price of the new M5 is 249,800 yuan. According to reports, the new M5 will be delivered in batches from May 15. In addition, Hongmeng Zhixing and BAIC New Energy have created its first executive-level luxury flagship sedan Xiangjie S9, which will be officially unveiled at the 2024 Beijing International Auto Show and officially launched in July and August this year.
6. The land auction in Chengdu has set a new record, and a new highest transaction floor price was born yesterday. Yesterday at the Chengdu land market auction, 52 acres of land from Liujiang Street, Jinjiang District was won by Jin Mao at a transaction floor price of 24,500 yuan square meters, breaking the record of 23,500 square meters of Chengdu's highest transaction floor price set in December last year.
7. The State Food and Drug Administration issued an announcement on optimizing matters related to the transfer of drug marketing registration applications for drugs produced overseas that have been marketed in China to domestic production. Among them, it is proposed that the State Food and Drug Administration shall include the application scope of priority review and approval for the application of drug marketing registration for the transfer of original chemical drugs and biological products to domestic production.
8. Relevant people from the Ministry of Human Resources and Social Security said at the press conference in the first quarter that in the next step, they will continue to implement the national overall planning of basic pension insurance for enterprise employees to ensure that pensions are paid on time and in full. Study and improve the supporting policies of the personal pension system, and make relevant preparations before the comprehensive launch.
9. [A number of mergers and acquisitions of small and medium-sized banks were approved during the month] During the month, a number of applications by the main initiating banks to acquire their village and township banks and set up branches were approved by the regulatory authorities. Including Longjiang Bank's acquisition of Keshan Runsheng Village Bank and Jixian Runsheng Village Bank and the establishment of branches, Hengfeng Bank's acquisition of Chongqing Jiangbei Hengfeng Village Bank and the establishment of branches, Guangdong Nanyue Bank's acquisition of Zhongshan Guzhen Nanyue Village Bank and the establishment of branches.
Company News
1. Tianqi Lithium announced that it is expected to have a net loss of 3.6 billion yuan to 4.3 billion yuan in the first quarter. Subsequently, the Shenzhen Stock Exchange issued a letter of concern to Tianqi Lithium, requiring an analysis of the reasons for the sharp increase in losses in the first quarter.
2. Xpeng Motors issued a response to "employees cooperating with the investigation" on the 23rd: Hebei police recently launched an operation to crack down on online trolls, and the case is in the investigation stage.
3. Victall announced that Ningbo Jiuying intends to reduce its holdings of no more than 1% of the company's shares.
4. China Telecom announced that its net profit in the first quarter increased by 7.7% year-on-year.
5. Ping An of China announced that its net profit in the first quarter was 36.709 billion yuan, down 4.3% year-on-year.
6. Lei Jun, founder, chairman and CEO of Xiaomi, said at the Xiaomi Group Investor Conference that it is expected that the gross profit margin of Xiaomi SU7 will be 5%-10%.
7. Straight Flush disclosed the first quarter report of 2024, and the net profit in the first quarter decreased by 15.03% year-on-year.
8. Tonghua Dongbao announced that many specifications of human insulin injection and other products are planned to be selected for national centralized drug procurement.
9. Guangha Communication disclosed the announcement of abnormal fluctuations in stock trading, and the company's command and dispatch system and related products can be applied to low-altitude navigation command and dispatch and has provided customers with relevant solutions.
10. China Duty Free disclosed the report for the first quarter of 2024, with a year-on-year increase of 0.25% in net profit in the first quarter.
11. The Shanghai Stock Exchange issued a regulatory work letter to Zhongheng Design to clarify the regulatory requirements for the company's recent stock price fluctuations.
12. Tesla CEO Elon Musk: It is expected to sell the humanoid robot Optimus Humanoid Robot by the end of 2025.
13. [Gucci's parent company expects operating profit to fall by 40% to 45% in the first half of the year] According to Reuters, French luxury group Kering said on Tuesday that it expects operating profit to fall by 40% to 45% in the first half of the year. The company saw a decline in sales in the first quarter as affluent consumers cut back on products from its star brand, Gucci.
Global Markets
1. U.S. stocks opened higher and moved higher, and the three major indexes collectively closed up. The Nasdaq rose 1.59%, the S&P 500 rose 1.2%, and the Dow rose 0.69%. Large technology stocks rose, Netflix rose more than 4%, Nvidia rose more than 3%, Meta rose more than 2%, Tesla, Microsoft, Google, Amazon rose more than 1%, and Apple rose slightly. Major European stock indexes collectively closed higher, with Germany's DAX 30 index rising 1.61%.
2. The settlement price of international crude oil futures rose by more than 1.6%. The June contract for WTI crude oil futures rose 1.78%, and the June contract for Brent crude oil futures rose 1.63%.
3、COMEX黄金期货跌0.45%，COMEX白银期货涨0.37%。