Important News Alert
Copyright Administration of the Propaganda Department of the CPC Central Committee: Studying and formulating the "Guiding Opinions on Accelerating the High-quality Development of the Copyright Industry" According to the data of the Passenger Association, from April 1 to 21, the retail sales of new energy vehicles were 420,000 units, a year-on-year increase of 20%, a decrease of 2% from the same period last month Lubei Chemical: net profit in the first quarter was 50.5414 million yuan, a year-on-year increase of 3131.39%
Tip of the day
The Ministry of Commerce will hold a regular press conference today.
There is a 7-day reverse repurchase of 2 billion yuan due today.
The new shares of the Shanghai Science and Technology Innovation Board, Ole New Materials, will start online subscription today, with the subscription code of 787530 and the announcement date of the winning number is April 29.
CATL will hold the 2024 CATL Energy Storage New Product Launch Conference today.
The 18th Beijing International Automobile Exhibition will be held in Beijing from today to May 4.
The 2024 Smart PV Design Symposium, organized by Huawei Digital Power, will be held in Dongguan from today to 26 July.
Financial news
1. Tang Zhaozhi, head of the Copyright Administration of the Propaganda Department of the CPC Central Committee, said at the press conference of the State Council Information Office on April 24 that in the next step, it is necessary to continue to take various measures to continuously promote the high-quality development of the copyright industry. The first is to improve relevant laws and regulations. The second is to introduce relevant policies. At present, the "Guiding Opinions on Accelerating the High-quality Development of the Copyright Industry" is being studied and formulated, and relevant measures are being introduced to address the pain points and difficulties that restrict and affect the high-quality development of the copyright industry. The third is to strengthen protection and create a good business environment. Fourth, we will continue to improve the capacity of copyright social services.
2. According to the data of the Passenger Car Association, from April 1 to 21, the retail sales of new energy vehicles in the market were 420,000 units, a year-on-year increase of 20%, a decrease of 2% from the same period last month, and a total of 2.192 million units were retailed this year, a year-on-year increase of 31%, and the wholesale of new energy vehicles by passenger car manufacturers nationwide was 459,000 units, a year-on-year increase of 29%, an increase of 5% over the same period last month. Since the beginning of this year, a total of 2.41 million units have been wholesaled, a year-on-year increase of 30%.
3. Recently, the Asset Management Association of China (AMAC) issued the Notice on Prompting the Cancellation of Registration of Private Equity Managers of Funds Not Under Management for 12 Months. According to Article 14 of the Regulations on the Supervision and Administration of Private Investment Funds and Article 76 of the Measures for the Registration and Filing of Private Investment Funds, after all the private funds managed by a private fund manager have been liquidated, if a new private fund has not been filed within 12 months from the date of completion of the liquidation, the registration and filing institution shall promptly cancel the registration of the private fund manager and publicize it.
4. The Hong Kong Stock Exchange announced on April 24 that the average daily turnover of Bond Connect Northbound Trading in the first quarter of this year was RMB45.2 billion, up 22% year-on-year. Among them, the average daily turnover in January reached RMB48.7 billion and the net inflow reached RMB141.7 billion, both hitting a new monthly high. During the period, the average daily turnover of Stock Connect Northbound and Southbound trading was RMB133 billion and HK$31 billion respectively. Stock Connect expanded the scope of stock targets, adding more than 1,000 new stocks to Northbound trading since March, resulting in a 37% year-on-year increase in the average daily turnover of Northbound and Shenzhen-Hong Kong Stock Connect.
5. On April 24, the website of the Tianjin Municipal People's Government issued the Notice of the Tianjin Municipal People's Government on Printing and Distributing the Implementation Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods in Tianjin. It is proposed that by 2027, the scale of equipment investment in industry, agriculture, construction, transportation, education, cultural tourism, medical care and other fields will increase by more than 25% compared with 2023, the energy efficiency of major energy-using equipment in key industries will basically reach the energy-saving level, the penetration rate of digital R&D and design tools and the numerical control rate of key processes in industrial enterprises above designated size will exceed 90% and 75% respectively, the recycling volume of scrapped vehicles will increase by about double that of 2023, and the transaction volume of second-hand cars will increase by 45% compared with 2023 The recycling of waste household appliances will increase by 30% compared with 2023, and the proportion of recycled materials in the supply of resources will further increase.
6. According to the WeChat public account of "Shenyang Release", on April 24, the Information Office of the Shenyang Municipal People's Government held a press conference on "cultivating and developing low-altitude economy and striving to create new quality productivity". At the meeting, it was introduced that the Action Plan for the High-quality Development of Shenyang Low-altitude Economy (2024-2026) has been deliberated and approved by the executive meeting of the municipal government. The Action Plan proposes that by 2026, the basic support system for low-altitude flight will be basically perfected, and an industrial ecology of R&D and manufacturing, low-altitude flight, and comprehensive service integration and development will be initially formed; low-altitude aircraft will operate efficiently in the fields of urban air transportation, logistics and distribution, emergency rescue and smart city management, and more than 10 low-altitude economic application demonstration scenarios will be created; Shenyang will cultivate more than 100 low-altitude economy-related enterprises, and the industrial scale will reach 3 billion yuan.
7. On April 24, the Guiyang Housing Provident Fund Management Center issued a notice on optimizing the phased policies of the housing provident fund, which will come into force on May 6, 2024 and will cease to be implemented on December 31, 2024. The notice mentions that if the depositor's family applies for a housing provident fund loan to purchase a self-occupied house, the minimum down payment ratio is 20%. In addition, the scope of withdrawing housing provident funds to pay down payments will be expanded. If the depositor's family has no housing provident fund loan record nationwide or only has one housing provident fund loan record and the loan has been settled, and purchases a self-occupied house in Gui'an, Guiyang, it can withdraw the housing provident fund to pay the down payment. Expand the scope of "both withdrawal and loan" of the housing provident fund. If the depositor's family buys a self-occupied house in Gui'an, Guiyang, it can still apply for a housing provident fund loan after withdrawing the housing provident fund to pay for the purchase price. That is, the scope of application of the "both withdrawal and loan" policy will be expanded from the first housing provident fund loan to the second housing provident fund loan.
Company News
1. Performance of listed companies
Great Wall Motor: net profit in the first quarter was 3.228 billion yuan, a year-on-year increase of 1752.55%
Lubei Chemical: net profit in the first quarter was 50.5414 million yuan, a year-on-year increase of 3131.39%
Transsion Holdings: net profit in the first quarter was 1.626 billion yuan, a year-on-year increase of 210.3%
Kapok shares: net profit in the first quarter was 21.7316 million yuan, a year-on-year increase of 126.36%
Golden Horse Amusement: net profit in the first quarter was 9.7275 million yuan, down 65.16% year-on-year
Jidong Equipment: The net profit in the first quarter was 4.1159 million yuan, a year-on-year turnaround
Hualu Hengsheng: net profit in the first quarter was 1.065 billion yuan, a year-on-year increase of 36.3%
Hisense home appliances: net profit in the first quarter was 981 million yuan, a year-on-year increase of 59.48%
Boshen shares: net profit in the first quarter was 58.0631 million yuan, a year-on-year increase of 129.52%
Linglong Tire: net profit in the first quarter was 441 million yuan, a year-on-year increase of 106.32%
Zhenghong Technology: The net profit loss in the first quarter was 8.5686 million yuan, a year-on-year decrease
Goertek: net profit of 380 million yuan in the first quarter, a year-on-year increase of 257.47%
Jinzhi Technology: net profit in the first quarter was 19.0751 million yuan, an increase of 108.86% year-on-year
Yujing shares: net profit in the first quarter was 30.2197 million yuan, a year-on-year increase of 70%
Changdian Technology: net profit in the first quarter was 135 million yuan, a year-on-year increase of 23.01%
Guansheng shares: net profit in the first quarter was 66.215 million yuan, a year-on-year increase of 136.28%
Shu Taishen: The net profit loss in the first quarter was 3.7694 million yuan, a year-on-year decrease
Guanghui Automobile: net profit in the first quarter was 70.9405 million yuan, down 86.61% year-on-year
Maiwei shares: net profit in the first quarter increased by 17.79% year-on-year In 2023, it is planned to distribute 10 distributions of 11 yuan
Huaxi Nonferrous Metals: net profit of 125 million yuan in the first quarter, a year-on-year increase of 81.06%
Huace Film and Television: net profit in the first quarter was 30.0138 million yuan, down 79.58% year-on-year
No. 9 Company: net profit of 136 million yuan in the first quarter, a year-on-year increase of 675.34%
E-Hualu: net profit loss of 186 million yuan in the first quarter
Capital Securities: net profit of 220 million yuan in the first quarter, a year-on-year increase of 25.22%
Agile shares: net profit in the first quarter decreased by 75.64% year-on-year In 2023, it is planned to distribute 10 distributions of 15.51 yuan
EVE: net profit of 1.066 billion yuan in the first quarter, down 6.49% year-on-year
Yanjing Beer: net profit in the first quarter was 103 million yuan, a year-on-year increase of 58.9%
China General Nuclear Power Corporation: net profit in the first quarter was 3.604 billion yuan, a year-on-year increase of 3.38%
2. Zhongheng Design: Recently, the company has paid attention to media reports that the company involves the concept of "low-altitude economy", which mentions that the company won the bid for the Central China Intelligent Aircraft Industrial Base project. As a member of the consortium, the above-mentioned project company won the bid, and the company was mainly responsible for the construction drawing design work in this project, and only shared the construction drawing design fee of 5.3186 million yuan, which accounted for only 0.31% of the company's audited operating income in 2023. As of the date of the announcement, the project has not been formally contracted and has not generated any revenue. In addition, the company has no contracts and revenue recognition related to the "low-altitude economy" as described in other media.
Zhongheng Design opened on April 24 with a falling limit, and then quickly pulled up the daily limit, staged a "earth and sky board" trend, and has closed 6 daily limits in a row. During the continuous daily limit, the stock has risen by 77.18%, and the cumulative turnover rate is 26.60%. The latest market capitalization reached 3.427 billion yuan. On the evening of April 23, the Shanghai Stock Exchange issued a regulatory work letter to Zhongheng Design, clarifying the regulatory requirements for the company's recent stock price fluctuations.
3. Blue Ocean Huateng: I noticed that some media, stock bars and other platforms have discussed the company's business related to the hot concepts of "low-altitude economy" and "solid-state battery". At present, the company is mainly engaged in electric vehicle motor controllers, medium and low voltage inverters, servo drives and other products. The company's electric aircraft motor controller is currently in the stage of technology research and development, which will not have a significant impact on the company's performance in the short term; High Energy Times (Zhuhai) New Energy Technology Co., Ltd. is an innovative high-tech enterprise with R&D and manufacturing of high-specific energy and high-safety all-solid-state lithium batteries as the core, and the company will invest in High Energy Times in June 2023, with a shareholding ratio of 1.91%, which will not have a significant impact on the company's performance in the short term.
On April 24, Blue Ocean Huateng rose to the limit and harvested 2 consecutive boards. In 2023, Blue Ocean Huateng will achieve operating income of 326 million yuan, a year-on-year decrease of 27.07%, and net profit attributable to the parent company of 24.065 million yuan, a year-on-year decrease of 71.24%.
4. Jolywood: In March 2022, the company signed an investment agreement to invest 14 billion yuan in a project with an annual output of 200,000 tons of industrial silicon and an annual output of 100,000 tons of high-purity polysilicon in Gujiao City, Shanxi Province. After signing the investment agreement with the Gujiao Municipal Government and the Taiyuan Municipal Government, the Company actively promoted the preparatory work for the investment of the polysilicon project, but there was no feasible plan for the project to land in the chemical park, and the investment agreement failed to meet the conditions for taking effect, and the market environment of the photovoltaic industry has undergone major changes, and the feasibility of the silicon-based project has undergone major changes. Based on this, the continued progress of the project is expected to fail to achieve the expected investment results, and the company has decided to terminate the investment in the silicon-based project.
On the evening of April 24, Jolywood released its 2023 annual report, during the reporting period, the operating income and net profit attributable to the parent company both hit a record high, with an annual operating income of about 12.259 billion yuan, a year-on-year increase of 28.01%, and a net profit attributable to the parent company of about 527 million yuan, a year-on-year increase of 31.18%. In 2023, it is planned to distribute a cash dividend of 1.38 yuan (tax included) to all shareholders for every 10 shares, with a total cash dividend of about 150.3686 million yuan (tax included), accounting for 28.56% of the net profit attributable to the parent company in 2023.
5. Zhongchen Technology: Jiang Kegui, the father of Jiang Haijun, an independent director of the company, bought and sold the company's shares through centralized auction trading from September 4, 2023 to April 16, 2024, constituting short-term trading. Jiang Kegui bought a total of 8,900 shares of the company's shares in this short-term transaction, with a cumulative turnover of 395,951 yuan, sold 8,900 shares of the company's shares, with a cumulative turnover of 364,751 yuan, and a cumulative transaction income of -31,200 yuan.
6. ST News: Because the company's audited net profit before and after deduction in 2023 is negative, and the operating income after deducting business income unrelated to the main business and income without commercial substance is less than 100 million yuan; the audited net assets at the end of the period in 2023 are negative, the company's shares will be subject to delisting risk warning; the company's audited net profit before and after the deduction for three consecutive fiscal years from 2021 to 2023 is negative, and the accounting firm in 2023 issued a certificate for the company with an emphasis paragraph, The company's shares will be suspended on April 25 and resumed trading on April 26, and the A shares will be referred to as *ST Meixun after the resumption of trading.
On the evening of the same day, ST Meixun released its annual performance report, with an operating income of about 39.07 million yuan in 2023, a year-on-year decrease of 63.8%, a net profit loss attributable to shareholders of listed companies of about 112 million yuan, and a basic earnings per share loss of 0.3938 yuan. In the same period of 2022, the operating income was about 108 million yuan, the net profit loss attributable to shareholders of the listed company was about 81.21 million yuan, and the basic earnings per share loss was 0.2846 yuan. On April 24, ST Meixun staged the "Sky Floor" market.
7. Tencent: Tencent released the "Global Intelligence" solution for the automotive industry, which has been applied in five core scenarios: automotive R&D, production, marketing, service, and enterprise collaborative office. At the same time, Tencent released an upgrade plan in terms of smart car cloud, smart cockpit, and going overseas. According to the official introduction, Tencent's automotive industry model is being applied with more than a dozen automotive industry partners such as Changan, GAC, FAW Toyota, Dongfeng Lantu, and Yiche. By the end of this year, Tencent's smart car products will be installed in more than 15 million vehicles.
8. Tesla: On April 24, Tesla announced "new products, new benefits" through its official Weibo, launching a new car purchase plan with zero down payment for the Model 3 and Model Y. Among them, the Model Y model can also have 0 interest.
Selected Research Reports
Ping An Securities Research Report believes that photovoltaic glass is an important protective component of photovoltaic modules. In recent years, the global installed capacity of photovoltaics has increased rapidly, and the penetration rate of double glass has increased, and the demand for photovoltaic glass has increased significantly. Considering that the production schedule of photovoltaic modules is still high in April, the glass ignition has increased since March, but it takes time for the production capacity to ramp up, the short-term glass price still has a slight upward space under the tight supply and demand, and the price of raw materials such as soda ash has declined, and the profitability of photovoltaic glass has improved.
Guotai Junan said that Meta launched the latest version of its AI open-source large language model, Llama 3, including two versions of 8B and 70B parameters, and a number of key benchmarks outperformed many similar models. With the launch of Llama3, a large version of the 400B parameter model in the future, the open source community is expected to usher in great changes, and the implementation of innovative AI applications is expected to accelerate. At present, there are closed-source camps represented by OpenAI and open-source camps represented by Llama, and this time, Llama3 can achieve significant advantages in performance under the condition of small model parameters, which further affirms the open-source technical route and Llama's training framework. The improvement of the efficiency of model use will also mobilize the surrounding tool applications, and the innovation of AI application scenarios is expected to make further breakthroughs.
Reporter: Wang Yin
Editor: Zhang Lijing Proofreader: Ya Wenhui
Producer: Li Ruoyu Issued by: Fei Yangsheng