The State Council's report on the study and handling of the opinions on the deliberation of the special report on the management of state-owned assets of financial enterprises and the situation of rectification and accountability put forward that in-depth study should be conducted to adjust the proportion of state-owned financial capital in banking, insurance, securities, and other industries in a timely and reasonable manner through capital replenishment and profit increase, and in accordance with the principle of "advancing and retreating, and rational flow." Concentrate on building a "national team" in the financial industry. Study and draft an action plan for strengthening the management of state-owned financial capital, and promote the benchmarking of large state-owned financial enterprises against world-class financial enterprises. Promote leading securities companies to become stronger and better, and support the Shanghai and Shenzhen stock exchanges to build world-class exchanges. The Ministry of Finance and the State Administration of Taxation issued the Announcement on the Land Appreciation Tax Policy for the Reform of the Rural Collective Property Rights System. Villagers' committees and villagers' groups that, in accordance with the requirements of the reform of the rural collective property rights system, transfer or change the use rights of state-owned land, buildings on the ground and their attachments to the name of rural collective economic organizations, shall not be subject to LAT for the time being. The rural collective economic organizations referred to in the announcement shall be registered with the agricultural and rural departments in accordance with the regulations, be given a unified social credit code starting with the letter "N", and obtain the "Registration Certificate of Rural Collective Economic Organizations". The Ministry of Commerce said that some Western countries have recently frequently accused China of overcapacity, and this kind of speculation is unreasonable, and China firmly opposes it; the issue of production capacity should fully consider the reality of the global division of labor and the international market in the context of economic globalization, and uphold an objective, fair and scientific position.
The private placement of the "World Copper King" was warned by regulators. On April 25, the Shenzhen Securities Regulatory Bureau issued a decision on issuing warning letters to Shenzhen Zhengwei Private Equity Fund Management Co., Ltd. and Li Li. After investigation, Zhengwei Private Equity failed to update the relevant information of the manager in a timely manner in accordance with the regulations of the Asset Management Association of China in its private fund business activities, and failed to properly keep the suitability management data of some investors in the private equity fund. On April 25, the Second Department of Management of Listed Companies of the Shanghai Stock Exchange issued a regulatory warning to Tibet Everest Resources Co., Ltd. and Hu Handong, secretary of the board of directors, saying that the information disclosure of listed companies' announcements was inaccurate, reflecting the company's daily information disclosure defects, and there were low-level text errors in many announcements of Tibet Everest, which caused a greater impact. Guolian Securities announced that it is planning to acquire control of Minsheng Securities and raise matching funds by issuing A shares, and the stock will be suspended from the opening of the market on April 26, and the suspension is expected to last no more than 10 trading days. ST Xingyuan announced that the company's shares have been terminated by the Shenzhen Stock Exchange and will be delisted on April 26. On April 25, at the 2024 Beijing Auto Show, CATL officially released the Shenxing PLUS battery, with an energy density of more than 205Wh/kg, a cruising range of more than 1,000 kilometers, and a range of up to 600 kilometers after 10 minutes of charging. Xpeng Motors unveiled its new nine-crown Xpeng X9, G6, G9, and P7i models at the 2024 Beijing Auto Show, and announced the world premiere of the AI Dimensity system, which will be fully launched on May 20. In addition, the pre-sale of Xpeng Huitian's "Land Aircraft Carrier" split flying car will start in Q4 2024, and the new brand MONA will be officially launched in June. Zhuhai Gree Electric Appliance Co., Ltd. Culture Media Center official Weibo @ Gree Wenchuan posted on April 25 that recently, a number of self-media accounts published an article titled "Employees Absent from Work to See Sick Parents, Dong Mingzhu Directly Ordered: The Employee Was Dismissed from Job" on multiple platforms. After investigation, it was found that the article was purely false, and it was a rumor and slander, seriously misleading the public. Mingde Biotech announced that the company and its subsidiaries plan to use no more than RMB 4 billion of idle own funds to purchase low-risk wealth management products. At present, the company has abundant funds, and under the premise of ensuring the company's daily operation, the use of part of its temporarily idle own funds to purchase wealth management products is conducive to improving the efficiency and income of the company's funds, and there is no harm to the interests of the company and small and medium-sized shareholders. On April 24, Evergrande Real Estate Group Co., Ltd. added 9 pieces of information on the person subject to enforcement, with a total of more than 370 million yuan in the subject matter of enforcement, involving bill disputes, construction contract disputes and other cases, and some cases of enforcement include Enping Yushang Real Estate Development Co., Ltd., Evergrande Garden Group Co., Ltd., Evergrande Real Estate Group Pearl River Delta Real Estate Development Co., Ltd., etc. Li Auto announced that during the "May Day" holiday, charging at ideal supercharging stations across the country will be free. All models of Li Auto are not limited to regions, and electricity and service charges are free of charge.
As of the close of trading on April 25, the Shanghai Composite Index closed up 0.27%, the Shenzhen Component Index closed up 0.14%, and the ChiNext Index closed down 0.04%. The BSE 50 index fell 0.86%. In terms of sectors, chemical raw materials, chemical pharmaceuticals, logistics, coal, banking, PEEK materials, titanium dioxide concept, dye concept and other sectors were among the top gainers, while national defense and military industry, kitchen and bathroom appliances, small household appliances, education, military informatization, Huawei ORA and other sectors were sluggish. On April 25, the Hang Seng Index rose 0.48% to close at 17,284.54 points, and the Hang Seng Technology Index fell 0.54% to close at 3,554.3 points. In terms of sectors, the concept stocks of leasing and selling the same rights and smart wearable stocks led the gains, while the K12 education concept stocks and online game concept stocks led the decline. Northbound funds bought a net of 349 million yuan on the 25th. China Merchants Bank, Luxshare Precision, and CATL received net purchases of 662 million yuan, 441 million yuan, and 273 million yuan respectively. Midea Group had the largest net selling amount, with an amount of 289 million yuan. Southbound funds bought a net of HK $1.88 billion on the 25th. Bank of China, Hong Kong Stock Exchange and Tencent Holdings received net purchases of HK$524 million, HK$407 million and HK$222 million respectively. Meituan-W was the largest net seller, with an amount of HK$796 million. The official website of the Postal Savings Bank announced on April 25 that from May 1, 2024, Beijing time, the Postal Savings Bank will dynamically adjust the purchase starting point of the gold accumulation business according to the gold market conditions, and the adjusted starting point amount is higher than the average closing price of the Au99.99 contract on the Shanghai Gold Exchange in the previous natural month, and is an integer multiple of 10 yuan. On the afternoon of April 25, the Shanghai and Shenzhen North Stock Exchanges issued a notice on the 2024 Labor Day market closure arrangement, the specific arrangements are as follows: the market will be closed from May 1 (Wednesday) to May 5 (Sunday), and the market will open as usual from May 6 (Monday). The market will be closed on Sunday, April 28 and Saturday, May 11.
The State Administration of Financial Supervision and Administration issued the "Guiding Opinions on Promoting the High-quality Development of Green Insurance", which provides full life cycle insurance protection for the risk characteristics of the production, construction and operation of energy industries such as solar energy, wind power, hydropower and nuclear power, provides risk solutions for the construction of new power systems through insurance mechanisms, and provides suitable insurance protection solutions for low-altitude economy, multimodal transport, green distribution and other fields.
Beijing issued the Implementation Plan for the Construction of Computing Power Infrastructure in Beijing (2024-2027). It is mentioned that enterprises that purchase independent and controllable GPU chips to carry out intelligent computing services will be supported according to a certain proportion of the investment amount to accelerate the realization of independent and controllable supply of intelligent computing resources. For the stock data centers that take the initiative to carry out green and energy-saving transformation, support will be given according to a certain proportion of the investment amount. According to IDC's report, China's folding screen mobile phone shipments reached 1.86 million units in the first quarter, a year-on-year increase of 83%, and the global folding screen mobile phone is in the stage of rapid growth and penetration from 1-N. The Ministry of Industry and Information Technology (MIIT) is soliciting opinions on the No. 1 amendment to the mandatory national standard No. 1 of the "Safety Technical Requirements for Chargers for Electric Bicycles". According to the brief letter of the Ministry of Industry and Information Technology, in view of the recent emergence of a large number of on-board chargers, which may affect the safety of electric bicycles, it is proposed to ban on-board chargers and improve the permanent identification content.
Recently, "Before reaching retirement age and having paid social security for 15 years, is it possible to stop paying money and wait for retirement?" related topics have sparked heated discussions on online platforms. The official WeChat of the Ministry of Human Resources and Social Security responded that Article 16 of the Social Insurance Law stipulates that individuals who participate in basic pension insurance and have paid contributions for 15 years when they reach the statutory retirement age will receive a basic pension on a monthly basis. After 15 years of social security contributions, the employer shall continue to pay for the employee's insurance participation in accordance with the regulations, and go through the retirement procedures after meeting the conditions for receiving benefits, and receive the basic pension on a monthly basis. Jiangsu Huai'an adjusted the relevant policies of housing provident fund loans, which will be implemented from May 6. For borrowers and co-borrowers who meet the loan conditions of Huai'an Housing Provident Fund, the maximum loan benchmark amount for unilateral deposit will be increased from 400,000 yuan to 600,000 yuan, and the maximum loan benchmark amount for both parties will be increased from 600,000 yuan to 800,000 yuan. The policy of increasing the maximum loan amount by 30% for families with many children has been expanded from only supporting the purchase of the first owner-occupied home to the purchase of the second improved owner-occupied home.
Chen Demei, former vice president of SAIC Motor Group Co., Ltd., is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Shanghai Municipal Commission for Discipline Inspection and Supervision.
U.S. real personal consumption expenditures rose 2.5% q/q in the first quarter and 3.3% in the fourth quarter of 2023, with a revised 3.0% and preliminary 2.8% respectively. The preliminary annualized quarterly rate of final sales was 2.0%, the final value of the fourth quarter of 2023 increased by 3.9%, the revised value increased by 3.5%, and the preliminary value increased by 3.2%. The core PCE price index in the United States rose 3.7% month-on-month on an annualized basis in the first quarter, with an expected increase of 3.4%, and the final value in the fourth quarter of 2023 rose by 2.0%, the revised value increased by 2.1%, and the preliminary value rose by 2.0%. The number of initial claims for unemployment benefits in the United States last week was 207,000, compared with 212,000 in the previous week, the four-week average was 213,250, and the number of people continuing to apply for unemployment benefits in the week ended April 13 was 1.781 million, and the previous value was revised to 1.796 million from 1.812 million. According to a report released by the Institute of International Finance (IIF), in March this year, China's stock market and bond market received net purchases of foreign funds at the same time, amounting to US$1.7 billion and US$2.1 billion respectively, for the first time since June last year. At the same time, the outlook for foreign institutions on Chinese assets is also improving. Ukraine's central bank unexpectedly cut interest rates by 100 basis points, bringing the central bank rate to 13.5% in April, with a 50 basis point cut expected. Greg Brockman, president and co-founder of OpenAI, said on his personal social platform that NVIDIA's first DGX H200 in the world was officially delivered to OpenAI, and NVIDIA CEO Jensen Huang personally delivered it. According to Brockman, this will "advance artificial intelligence, computing, and human development." On April 24, the Volkswagen Group unveiled its latest strategy for the Chinese market, focusing on strengthening its technological capabilities and reducing costs in the Chinese market. According to the statement, Volkswagen has set a target of annual sales of nearly 4 million vehicles in the Chinese market by 2030, which is equivalent to capturing about 15% of the market share. On April 24, local time, Meta, the parent company of Facebook, announced its results for the first quarter of 2024. Revenue for the first quarter of 2024 was $36.46 billion, up 27% year-over-year, and net profit was $12.369 billion, up 117% year-over-year. As of March 31, 2024, the number of employees in the company was 69,329, a year-on-year decrease of 10%. Mining giant Anglo American confirmed that it has received an unsolicited proposal for a wholly-share merger by BHP Billiton, the world's largest mining company. Anglo American said BHP's proposal was conditional on the company first spinning off Anglo American and Kumba Iron Ore. If it goes through, the merger could be the world's largest acquisition this year.
China Resources Micro: Net profit in the first quarter decreased by 91.27% year-on-year. ZTE: net profit in the first quarter increased by 3.74% year-on-year. Trina Solar: Net profit in the first quarter fell 71% year-on-year. Yutong Bus: The net profit attributable to the parent company in the first quarter was 657 million yuan, a year-on-year increase of 445%. CNOOC: Net profit in the first quarter increased by 57% year-on-year. Aluminum Corporation of China: net profit in the first quarter increased by 23.01% year-on-year. Sugon: net profit in the first quarter increased by 8.86% year-on-year. Shede Liquor: net profit in the first quarter decreased by 3.35% year-on-year. Kelin Electric: Shijiazhuang SDIC Group holds 10% of the shares. Montage Technology: Net profit in the first quarter increased by 1032.86% year-on-year. Yingjia Tribute Liquor: Net profit in 2023 will increase by 34.17% year-on-year, and 10 distributions of 13 yuan are planned. Fuyao Glass: net profit in the first quarter was 1.388 billion yuan, a year-on-year increase of 51.76%. General Motors: net profit in the first quarter was 153 million yuan, a year-on-year increase of 1270.57%. Junzheng Group: The subsidiary does not invest more than 3.2 billion yuan in the construction of chemical ships. Aojing Medical: Acquired 100% equity interest in HumanTech Dental in Germany. Shanghai Jianke: plans to repurchase the company's shares for 70 million yuan to 120 million yuan.