Today's attention //
1. In April, the three major policy banks repaid 343.2 billion yuan of mortgage supplementary loans
2. The State Administration for Market Regulation intends to strictly prohibit the production and sale of "special liquor"
3. Shenzhen sub-district optimizes the housing purchase restriction policy
4、问界回应新M7 Plus山西高速事故
5. 5 A-share listed companies received prior notices of termination of listing
6. Zhengdan shares and convertible bond transactions are seriously abnormal fluctuations, and trading will be suspended for verification from May 7
Macro Warning //
1. Three departments: Continue the policy of reducing unemployment insurance premiums to 1% in stages until the end of 2025
The Ministry of Human Resources and Social Security and other three departments jointly issued the Notice on Extending the Implementation of the Policy of Unemployment Insurance to Assist Enterprises in Stabilizing Jobs. The "Circular" clarifies that the policy of reducing unemployment insurance premiums to 1% in stages will be continued until the end of 2025, and the policy of returning stable jobs will continue to be implemented for insured enterprises that do not lay off employees or reduce layoffs until the end of 2024, and that small, medium and micro enterprises will be refunded no more than 60% of the unemployment insurance premiums actually paid by enterprises and their employees in the previous year, and the proportion of refund for large enterprises will not exceed 30%.
2. Central Bank: In April, the three major policy banks repaid 343.2 billion yuan of mortgage supplementary loans
According to data disclosed by the central bank, in April 2024, the China Development Bank, the Export-Import Bank of China, and the Agricultural Development Bank of China repaid a net of 343.2 billion yuan in mortgage supplementary loans. The balance of supplementary mortgage loans at the end of the period was 3,026.9 billion yuan.
China Bond Alert //
1. In the first four months, the local government "borrowed" about 1.9 trillion yuan, and the issuance of special bonds needs to be accelerated
According to Yicai, in the first four months of this year, a total of 1,917.8 billion yuan of local government bonds were issued nationwide, a decrease of about 31% compared with the same period in 2023 and slightly lower than the same period in 2022. However, judging from the scale of local bond issuance in the first four months of recent years, it is still at a high level this year, only lower than the same period in 2023 and 2022. The scale of local government bond issuance in the first four months of this year was lower than that of the same period last year, mainly because the issuance of new special bonds was slower than that of the same period. According to this year's budget report, the scale of new special bonds to be issued this year is about 3.9 trillion yuan, an increase of 100 billion yuan year-on-year. In the first four months, the issuance of new special bonds accounted for about 19% of the annual proposed issuance scale, and the progress was significantly slower than that of the same period last year.
2. Sunac and others were enforced to be 260 million, and the cumulative amount of enforcement exceeded 25.5 billion
From April 29th to May 2nd, Sunac Real Estate Group Co., Ltd. added 4 pieces of information on the person subject to execution, with a total of more than 260 million yuan in the subject matter of enforcement, involving cases such as disputes over financial loan contracts, and some of the cases subject to execution also include Guilin Sunac City Investment Co., Ltd., Zaozhuang Haojia Real Estate Co., Ltd., Dali Strength Xia Du Real Estate Co., Ltd., etc. Sunac Real Estate Group Co., Ltd. has more than 600 pieces of information on persons subject to execution, with a total amount of more than 25.5 billion yuan.
3. Jingrui Real Estate: The subsidiary failed to repay the relevant trust loans totaling more than 500 million yuan
Jingrui Real Estate (Group) Co., Ltd. announced that as of April 2024, in view of changes in the industry environment, Jingrui Real Estate, Jingxi Real Estate and Tianjin Ruihua failed to reach a new extension agreement with creditors, and the plan for financing replacement by finding new financial institutions also failed to land, resulting in Jingxi Real Estate failing to repay the 449.3 million yuan Aijian Trust loan, and Tianjin Ruihua failing to repay the 85.4842 million yuan China Construction Investment Trust loan.
4. R&F Real Estate owes 57.18 million in taxes
Guangzhou R&F Properties Co., Ltd. recently added a new tax arrears announcement, the tax arrears are stamp duty, land value-added tax, urban maintenance and construction tax, urban land use tax, value-added tax, real estate tax, and the balance of tax arrears is more than 57.18 million yuan. Guangzhou R&F Properties Co., Ltd. was established in August 1994, the legal representative is Li Silian, with a registered capital of about 3.75 billion yuan, which is jointly held by Li Silian and Zhang Li. At present, the company has 70 pieces of information on persons subject to execution, with a total amount of more than 10.5 billion yuan.
5. Wuhan Contemporary Science and Technology Industry Group: Failed to pay the principal and interest of "H17 Contemporary 1" on time
Wuhan Contemporary Science and Technology Industry Group Co., Ltd. announced that it failed to pay the principal and interest of "H17 Contemporary 1" on time, and the total scale of overdue principal and interest was 602 million yuan.
6. "21 Dima 01" failed to repay the principal and interest in full on time
ST Dima announced that the company's corporate bond "21 Dima 01" failed to repay the principal and interest in full on April 30, the maturity date of the current bond, due to a combination of factors such as the decline in the company's sales and collection, and tight liquidity. Up to now, the amount of bonds deposited in this period is 326 million yuan.
7. Fangyuan Real Estate: The company is involved in major litigation
Guangzhou Fangyuan Real Estate Development Co., Ltd. issued an announcement stating that the company was involved in a lawsuit, the plaintiffs were Shenzhen Jingfangyuan Investment Development Co., Ltd. and Lin Fukun, and the defendants were Zhanjiang City, Chikan District, Nanqiao Street Office Wenbao Beicun Economic Cooperative, and Zhanjiang Shangpin Investment Co., Ltd., a holding subsidiary of the company, and the cause of action was a loan contract dispute. The result of the case was that the court ordered the dismissal of all the plaintiff's claims. The plaintiff filed a lawsuit against the first-instance judgment. On April 29, the Zhanjiang Intermediate People's Court ruled that "this case shall be handled as the appellant's voluntary withdrawal of appeal, and the first-instance judgment shall take effect from the date of service of the judgment." ”
8. Kunming transportation investment: As of the end of 2023, there are 8 overdue debts of more than 10 million
Kunming Transportation Investment Co., Ltd. announced that as of December 31, 2023, the company had a total of 8 debts with an overdue amount of more than 10 million, and there was a situation where the restricted amount of individual assets exceeded 10% of the consolidated net assets at the end of 2023.
9. The meeting of holders of "23 Luxin MTN001" did not take effect
China Securities Construction Investment reported that "23 Luxin MTN001" held the first bondholder meeting in 2024 on April 25, and the amount of effective voting rights to participate in the meeting accounted for 6.67% of the total voting rights, which did not meet the relevant requirements, and the meeting of holders did not take effect.
Guotai Junan announced that the first bondholder meeting of "24 Luxin MTN001", "23 Luxin MTN004", "22 Luxin MTN001" and "19 Luxin MTN001" in 2024 has not taken effect, so the proposal has not taken effect.
10. Wei Fusheng, former chairman of Chongqing Construction Engineering Group, was examined and investigated
Wei Fusheng, former secretary of the Party committee and chairman of Chongqing Construction Engineering Group Co., Ltd., is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Chongqing Municipal Commission for Discipline Inspection and Supervision.
China Stock Alert //
1、问界回应新M7 Plus山西高速事故
According to the "Explanation on the Technical Issues Related to the New M7 Plus in Traffic Accidents on the Houping Expressway Section in Shanxi Province", the new M7 Plus is equipped with a L2 driver assistance system (non-Huawei ADS 2.0 intelligent driving system), and its automatic emergency braking (AEB) working range is 4~85km/h. The vehicle was traveling at a speed of 115 km/h at the time of the collision, which exceeded the operating range of automatic emergency braking (AEB). The power battery pack did not spontaneously combust. According to the background data analysis, there was a seat belt buckle signal in the main driver's seat before the collision, and there was no seat belt buckle signal in the passenger seat and the three rear seats, and the airbag status monitoring was normal. At the time of the collision, the vehicle's airbags are deployed normally. The new M7 Plus has a collision automatic unlocking function, and is equipped with a mechanical door handle, which can be unlocked and opened by pulling the mechanical door handle in special emergencies. When the accident vehicle and the road maintenance vehicle in front of the 115km/h high-speed rear-end collision, the rear of the vehicle in front of the protruding beam-like hard structure instantly and seriously invaded the front cabin and the passenger compartment on the upper left side of the accident vehicle, resulting in the front cabin and the crew compartment in the power cord and signal line were cut off instantly, the door handle controller could not receive the pop-up signal, and the rescuer broke the window and pulled the handle in the mechanical door to open the door to carry out rescue.
2. 5 A-share listed companies received prior notices of termination of listing
*ST Zuojiang, *ST Tai'an, *ST Zhongzhong, *ST Sansheng, and *ST Yuebo successively announced that they had received a prior notice of termination of listing issued by the Shenzhen Stock Exchange.
3. Salt Lake Co., Ltd.: Qinghai SDIC plans to carry out strategic cooperation with China Minmetals, which may involve the change of the company's actual controller
Salt Lake Co., Ltd. announced that the controlling shareholder Qinghai Guotou intends to carry out strategic cooperation with China Minmetals Corporation in jointly building a world-class salt lake industrial base and building a world-class salt lake industrial group (controlled by China Minmetals), which involves the company and may involve changes in the company's controlling shareholders and actual controllers. As of now, matters related to this cooperation are under negotiation.
4. CITIC Metal: The joint-stock company received the audit and assessment notice from the Peruvian State Administration of Taxation and Inspection
CITIC Metal announced that the company learned that Minera Las Bambas S.A. (hereinafter referred to as "MLB"), a shareholding company in which the company indirectly holds 15% of the equity, received an audit assessment notice issued by the Peruvian National Tax Administration Supervision Agency (hereinafter referred to as "SUNAT") on the payment of income tax for the MLB2018 tax year, in which SUNAT believes that all interest and other expenses paid by MLB under bank loans in 2018 are non-deductible, amounting to about 867 million US dollars.
5. 4 Connected Plate Blue Biology: The synthetic biotechnology innovation laboratory is still in the early stage of research and development
The company's main business is the research and development, production and sales of enzyme preparations, microecological preparations and animal health products. The synthetic biotechnology innovation laboratory disclosed in the previous periodic report is mainly used for the research and development of functional proteins, sweeteners, etc., but the R&D projects in reserve are small, the investment amount is small, and it is still in the early stage of research and development, and does not yet have the conditions for industrialization.
6. Is there an expectation of a price increase in high-speed rail fares?
According to CSI Taurus, in response to market rumors that there is an expected price increase in high-speed rail fares, the staff of the Beijing-Shanghai High-speed Railway Securities Department responded that the company will begin to implement a floating fare system in 2021, and the price fluctuates with the off-peak season like air tickets. However, during this year's "May Day" holiday, we did not participate in the latest price adjustment, or according to the previous floating pricing, and there is no new price adjustment plan in the future.
7. Buchang Pharmaceutical: lowered the price of the company's main product, Naoxintong Capsule
Buchang Pharmaceutical announced that Shaanxi Buchang Pharmaceutical Co., Ltd., a wholly-owned subsidiary of the company, has lowered the price of its product Naoxintong Capsule, and the adjusted price has been implemented in all provinces that have been connected to the network so far. The price adjustment of Naoxintong capsules is an adjustment made in accordance with the spirit of the relevant documents of the National Health Insurance Bureau, which may have a certain impact on the sales performance of Naoxintong capsules.
8. Zhengdan shares: the company's shares and convertible bonds have been suspended since the market opened on May 7
Zhengdan shares issued an announcement that the company's shares and convertible bonds have fluctuated greatly in recent trading prices, and after application, the company's shares and convertible bonds have been suspended since the market opened on May 7, and the company will resume trading after completing the relevant verification work and disclosing the verification results. According to the data, from April 1 to May 6, the share price of Zhengdan shares rose from 4.32 yuan / share to 23.88 yuan / share, with a cumulative increase of 454.06%.
9. BYD executives said that the production of electric motorcycles and electric bicycles is false information
Li Yunfei, general manager of the brand and public relations department of BYD Group, said that a series of splicing and synthetic videos and graphics have recently been circulated on the Internet, spreading relevant information such as "BYD is going to launch an electric motorcycle", "BYD's first motorcycle debut", "BYD produces electric bicycles", and the relevant rumors are untrue.
10. Jinshi Resources: The fluorite mine in front of Changshan Jinshiyan, a holding subsidiary, was temporarily suspended
Jinshi Resources announced that the company received a report from its holding subsidiary Changshan Jinshi that the Changshan County Emergency Management Bureau found that there were 6 hidden dangers such as insufficient strength of mine filling materials in the fluorite mine in front of Changshan Jinshiyan during the on-site inspection on May 1, and the on-site treatment decision ordered the fluorite mine in front of Changshan Jinshiyan to temporarily suspend production and business, and withdraw the operators. In view of the fact that it is not yet possible to determine the specific time for the resumption of production at the fluorite mine in front of Changshan Jinshiyan, the impact of this shutdown on the company's performance cannot be predicted for the time being.
Overseas Warning //
1. Cook responds to "Warren Buffett reduces his holdings in Apple stocks"
Apple CEO Tim Cook responded to "Buffett's reduction in Apple shares", saying that he had discussed the reduction of his holdings with Buffett, and Berkshire was still Apple's largest shareholder. At the same time, it is reported that Apple will not launch an AI chatbot, but will optimize iOS18 through its own large language model (LLM) Ajax, and Siri is expected to get a major makeover.
2. It is reported that Tesla has launched a new round of layoffs
According to the news, Tesla has launched a new round of layoffs, and employees in software, services, engineering and other departments have received relevant emails.
3. This year, Tmall 618 will cancel the official pre-sale link
According to Yicai, this year, Tmall 618 will cancel the official pre-sale link. Compared with previous years, this year's Tmall 618 will be simplified into two waves of spot sales, the first wave will start at 8 p.m. on May 20, and the second wave will start at 8 p.m. on May 31. During the two waves of sales, Taobao and Tmall will open multiple marketing venues for different types of merchants.
4. South Korea cracked down on naked short selling: 9 foreign banks were found, involving 164 stocks and $156 million
South Korea's financial watchdog said nine global investment banks have so far been found to have engaged in illegal short trading worth 211.2 billion won ($156 million). This is the latest briefing from South Korean regulators on the results of an investigation into "naked air acts". Nine banks mainly violated procedural rules by illegally shorting a total of 164 stocks.
5. Luckin Caffeine sued UCAR for a dispute over negligence liability in contracting
Recently, Luckin Coffee China Co., Ltd. and UCAR Co., Ltd. related to the contract negligence liability dispute case added a new court announcement, the plaintiff is Luckin Coffee China Co., Ltd., the case was heard in the Kunming Intermediate People's Court on the morning of May 6.
6. Qantas will pay $79 million to settle the flight cancellation lawsuit to resolve the reputational crisis
Qantas agreed to pay A$120 million ($79 million) to settle a lawsuit by regulators over the sale of tickets for cancelled flights, a move aimed at defusing the company's reputational crisis. Under the settlement, Qantas will distribute $20 million and pay $100 million in fines to more than 86,000 passengers who purchased tickets for so-called "ghost flights", rather than choosing to defend the lawsuit it had vowed to fight.
Financial Interbank Warning //
1. The central bank announced 15 typical cases of refusal to accept RMB cash
The People's Bank of China (PBOC) announced 15 typical cases of refusal to accept RMB cash, requiring all types of business entities to comply with relevant laws and regulations on RMB management, respect the public's right to choose their own payment methods, maintain the legal status of RMB, and jointly optimize the environment for the use of cash.
2. The audit institutions of listed companies started a "price war", and the annual audit fees of some enterprises fell by more than 30%
According to the Securities Times, among the dozens of listed companies that have changed their audit institutions since April, except for a few companies that have not yet clarified their audit fees, the audit fees of most companies have decreased year-on-year. The annual review fee of some enterprises has even decreased by more than 30%. On the whole, "inviting multiple accounting firms to bid" has become an important means for listed companies to reduce audit fees. Even some big firms seem to have joined this "price war".
3. The update of the financial reports of 6 securities companies planning to IPO triggers the "suspension" of the review
According to the Daily Economic News, Jinlong Co., Ltd. announced in early April that Dongguan Securities, a shareholding company, had suspended the IPO review of Dongguan Securities since March 31 due to the suspension of the submission of financial information recorded in the IPO application documents. Not only Dongguan Securities, but also among the 6 IPO brokerages under review, except for Bohai Securities, the remaining 5 are suspended due to the fact that the financial information recorded in the issuance and listing application documents has expired and needs to be supplemented.
4. The Guangdong Securities Regulatory Bureau took the measure of issuing a warning letter to Guosen Securities
The Guangdong Securities Regulatory Bureau issued a warning letter to Guosen Securities, because the company, as the sponsor of the initial listing of Opt, had violations in the process of continuous supervision, including failing to timely supervise Opt to perform the review and disclosure procedures for changes in the fundraising plan, and failing to correct the problem of Opt using other special fundraising accounts to pay salaries.
5. The Ningbo Securities Regulatory Bureau ordered the Yuyao Business Department of Zheshang Futures to take corrective measures
The Ningbo Securities Regulatory Bureau ordered the Yuyao Business Department of Zheshang Futures to take corrective measures, and the person in charge of the business department had illegal part-time employment during his tenure, reflecting the deficiencies in the compliance management and internal control of the business department, and violating Article 56 of the Measures for the Supervision and Administration of Futures Companies.
Industry Warning //
1. Shenzhen sub-district optimizes the housing purchase restriction policy
The Shenzhen Municipal Bureau of Housing and Urban-Rural Development issued the Notice on Further Optimizing the Real Estate Policy to further optimize the real estate policy in terms of zoning optimization of housing purchase restriction policies. Families with non-Shenzhen household registration and adult singles (including divorced) are limited to one house, and the requirements for individual income tax and social insurance are adjusted from 3 years to 1 year for the purchase of housing in Yantian District, Bao'an District (excluding Xin'an Street and Xixiang Street), Longgang District, Longhua District, Pingshan District, Guangming District and Dapeng New District. Households with household registration in Shenzhen with two or more minor children may, on the basis of implementing the existing housing purchase restriction policy, purchase one more house within the boundaries of Yantian District, Bao'an District (excluding Xin'an Street and Xixiang Street), Longgang District, Longhua District, Pingshan District, Guangming District and Dapeng New District.
Shenzhen has also adjusted the policy on the purchase of commercial housing by enterprises and institutions, and at the same time, enterprises and institutions that meet the conditions of being established for one year or more, paying a cumulative amount of 1 million yuan in Shenzhen, and having 10 or more employees can purchase commercial housing in Yantian District, Bao'an District, Longgang District and other areas to meet the needs of employee housing.
2. During the "May Day" period, the average daily sales area of new houses in 22 representative cities fell by more than 40% year-on-year
According to data released by the China Index Research Institute, during this year's "May Day" holiday, the average daily sales area of new houses in 22 representative cities decreased by more than 40% compared with the 2023 holiday. It is worth noting that last year's "May Day" holiday included the last two days of April (4.29-4.30), and the number of online signatures for projects at the end of the month was higher, if this factor is excluded, compared with the average daily transaction of new houses in 22 representative cities this year (5.1-5.5) and the average daily transaction (5.1-5.3) in the three days after last year's "May Day", the average daily sales area decreased slightly by 6%.
3. The State Administration for Market Regulation intends to strictly prohibit the production and sale of "special liquor"
The State Administration for Market Regulation solicited public comments on the "Announcement of the State Administration for Market Regulation on Strictly Prohibiting the Production and Sale of "Special Liquor" (Draft for Comments). The draft opinion proposes that it is strictly forbidden to produce and sell alcohol products containing similar labels such as "special", "exclusive" and "internal" for party and government organs and the military. It is strictly forbidden to promote alcoholic beverages in the name of "special supply", "exclusive supply", "internal supply" of party and government organs and the military, and to carry out false or misleading commercial publicity.
4. Eight departments: The price of critical medical services will be included in the dynamic adjustment mechanism for overall consideration
Eight departments, including the National Health Commission, issued the "Opinions on Strengthening the Capacity Building of Critical Medical Medical Services", requiring reasonable adjustment of the price of critical medical services, including the price of critical medical services in the dynamic adjustment mechanism, and those that meet the conditions for initiation will be given priority to medical service projects that reflect the characteristics and value of critical medical technology and labor services, such as those with high technical difficulty, high risk, and high resource consumption, into the scope of price adjustment, and reasonably formulate and adjust prices. We should do a good job in the convergence of policies such as price adjustment, medical insurance payment and medical fee control, so as to ensure that the burden of basic medical expenses on patients does not increase overall.
5. Lithium battery safety standards were released to close the safety of electric bicycles
Recently, the mandatory national standard of "Safety Technical Specifications for Lithium-ion Batteries for Electric Bicycles" drafted by the Ministry of Industry and Information Technology has been issued by the State Administration for Market Regulation (National Standards Committee) and will be officially implemented on November 1, 2024. The "Technical Specification" stipulates 6 test items for single batteries, including marking, overcharge, over-discharge, external short circuit, thermal abuse, and acupuncture, and 22 battery pack test items, including marking, electrostatic discharge, over-discharge, over-charge, temperature protection, external short circuit, mutual recognition and collaborative charging, data acquisition, insulation resistance, extrusion, acceleration shock, vibration, free fall, handle strength, flame retardancy, low air pressure, overcurrent discharge, temperature cycling, water immersion, salt spray, damp heat cycling, and thermal diffusion.
6. Jiangsu plans to revise the regulations on the prevention and control of solid waste pollution: new energy vehicle companies should build battery recycling channels
The "Regulations on the Prevention and Control of Environmental Pollution by Solid Waste in Jiangsu Province (Revised Draft)" has recently solicited public opinions, and has made provisions for promoting the construction of "zero-waste cities", joint prevention and management of the Yangtze River Delta, and the disposal of various types of solid waste. Among them, it is clear that new energy vehicle manufacturers should establish power battery recycling channels in accordance with national regulations, and encourage relevant enterprises to cooperate to build waste power battery recycling service outlets.
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