Important News Alert
The adjustment of the real-time turnover and daily quota balance of Northbound trading will be officially implemented on May 13. Special information: After receiving the prior notice of administrative punishment and market ban, Shenyang canceled the restriction on the number of points settled
Tip of the week
At 9 a.m. on May 13, the Treasury Department of the Ministry of Finance held a mobilization and deployment meeting for the issuance of ultra-long-term special treasury bonds.
The 2024 Global Trade and Investment Promotion Summit will be held on May 13.
Huawei's summer all-scenario new product launch conference will be held at 14:30 on May 15.
A new round of domestic refined oil price adjustment window will be opened at 24 o'clock on May 15.
On May 17, the National Bureau of Statistics will release the monthly report on the sales price index of commercial housing for April.
On May 17, the National Bureau of Statistics will release economic data such as industrial added value, fixed asset investment, and total retail sales of consumer goods in April.
There was no new share subscription for A-shares this week, and 1 new stock was listed. Reddy's shares will be listed on the Growth Enterprise Market of the Shenzhen Stock Exchange on May 13.
Financial news
1. Starting from today, Northbound trading will no longer disclose information such as the real-time purchase transaction amount, sell transaction amount and transaction amount. Industry insiders believe that after optimizing the information disclosure mechanism of Stock Connect, the frequency and content of its disclosure will be more consistent with the general habits of information disclosure in the A-share market, and will also effectively reduce abnormal market volatility and reduce the behavior of "following the trend" speculation to a certain extent.
For Stock Connect, when the quota balance is greater than or equal to 30% on the day, it will show "sufficient quota"; When it is less than 30%, the quota balance will be announced in real time. After the market closes each day, the total trading volume and total number of transactions of Northbound Stock Connect, the total trading volume of ETFs, the list of the top 10 actively traded securities (including ETFs) and their total trading volume of the day will be disclosed, and the summary of the aforementioned data will be announced on a monthly and annual basis. On the 5th trading day of each quarter, the aggregate holdings of individual securities and SSE investors and the holdings of each HKSCC Participant at the end of the previous quarter will be announced.
For Hong Kong Stock Connect, when the quota balance is greater than or equal to 30% on the day, it will show "sufficient quota"; When it is less than 30%, the quota balance will be announced in real time. During the trading period, the transaction amount and total transaction amount of buying and selling will be announced. After the market closes on a daily basis, the daily market closes the day's buy transaction amount and number of transactions, the total amount of selling transactions, the total number of ETFs, the list of the top 10 actively traded securities (including ETFs) and their buy transaction amounts, sell transaction amounts and total trading amounts, and publishes the summary of the aforesaid post-closing data on a monthly and annual basis. Disclose the total number of shares held by Hong Kong Stock Connect investors for a single security after the market closes each day.
2. Wind data shows that in addition to the new stocks that will be listed, 61 stocks will be lifted this week, with a total of 2.850 billion shares, and a total market value of 39.979 billion yuan according to the latest closing price, a decrease of 36.50% from the market value of last week. Judging from the lifting of the ban on shares, Yahuilong and Bozhon Seiko will lift the ban by more than 7 billion yuan, and Bozhon Seiko, Huizhi Micro-U, Hengtai Lighting, Fulai New Materials, Huayuan Shares, and Mingzhi Technology will increase by more than 200%. 3. Choice data shows that the cumulative net inflow of northbound funds last week was 4.842 billion yuan, and the number of shares held in 1,509 stocks increased. Among them, Kweichow Moutai has the largest amount of additional positions, reaching 4.489 billion yuan.
4. According to the WeChat official account of "Centennial China Merchants" on May 12, on the same day, China Merchants Group and the Liaoning Provincial People's Government signed a series of investment agreements on industry and finance cooperation in Shenyang, Liaoning Province, to further deepen the pragmatic cooperation between the two sides.
According to the agreement, China Merchants Group will increase its services to Liaoning in terms of comprehensive financial services such as banking, securities and funds, and China Merchants Capital and Liaoning Financial Holding Group will cooperate to set up the Xingliao Zhaojin New Era Strategic Industry Fund to help the development of Liaoning's new quality productivity. The total scale of Xingliao Zhaojin New Era Strategic Industry Fund is 5 billion yuan, and the scale can reach 20 billion yuan through participation in sub-funds and direct investment, and the fund will widely gather resources inside and outside Liaoning Province to invest in 4 trillion-level industrial bases and 22 key industrial clusters in Liaoning.
5. Xinhua News Agency reported on May 12 that Liaoning Province released a list of procurement needs for major construction projects in 2024, covering 8 major areas, 419 projects under construction, and a total investment of 550 billion yuan. The procurement needs of these major construction projects are concentrated in major industrial projects, with a total of 259 construction projects, covering equipment, aviation, medicine and other industries. In addition, the demand for science and technology in the list is strong, and the procurement demand for new productivity projects is 20 billion yuan.
6. On May 12, the WeChat public account of "Shenyang Release" reported that the General Office of the Shenyang Municipal People's Government issued the "Several Policies and Measures to Further Promote the Settlement of Migrant Population in Shenyang". The specific policy measures involve the abolition of the quota limit for points settlement, the settlement can be settled in Shenyang by obtaining the "Liaoning Provincial Residence Permit", the settlement can be settled in Shenyang by renting a house, the settlement can be settled in Shenyang, and the settlement can be settled in Shenyang. The measures shall come into force 30 days after the date of issuance. 7. According to the WeChat public account of "Changxing Airlines" on May 12, from May 8 to May 10, relevant units of the National Development and Reform Commission organized a research team to visit Changchun City to inspect the low-altitude economy. On May 9, at the Changchun Urban Area (Development Zone) Research Symposium held by the Changchun Municipal Party Committee and Municipal Government, the research team of the National Development and Reform Commission, relevant municipal departments, relevant urban areas (development zones) of Changchun City, industry associations and related enterprises jointly exchanged speeches on the development of low-altitude economic basic advantages, industrial status, infrastructure, application scenarios, reform measures, policy suggestions, etc. On the afternoon of May 10, the research team of the National Development and Reform Commission inspected the China-South Korea Demonstration Zone. It is reported that the total construction area of the UAV Manufacturing Industrial Park in the China-South Korea (Changchun) International Cooperation Demonstration Zone is about 178,500 square meters, which will be constructed in two phases.
Company News
1. Special information: On the evening of the 12th, it was announced that the company received the "Prior Notice of Administrative Punishment and Market Prohibition" issued by the Shenzhen Supervision Bureau of the China Securities Regulatory Commission. According to the notice, there have been false records in the annual report of special information for five consecutive years. At the same time, a number of former executives of the company, including the former chairman, are planned to be fined up to 4 million yuan per person, and are proposed to be banned from the capital market for up to 10 years. The company's shares have been suspended for one day since the market opened on May 13, and other risk warnings have been implemented since the market opened on May 14. The abbreviation of the company's stock was changed from "special information" to "ST special information", and the price limit on trading days was 5%.
2. Muyuan shares: announced on the evening of the 12th that after receiving an inquiry letter from the Shenzhen Stock Exchange's annual report, the Shenzhen Stock Exchange required the company to analyze and explain the impact of pig price trends on the company's operating performance in combination with the development status and trend of the industry, its own operating conditions and planning, pig breeding costs and changes.
Muyuan's 2023 annual report shows that during the reporting period, the company achieved operating income of 110.861 billion yuan, a year-on-year decrease of 11.19%. The net loss attributable to shareholders of the listed company was 4.263 billion yuan. The net loss attributable to shareholders of the listed company after deducting non-recurring gains and losses was 4.026 billion yuan. The basic loss per share was 0.79 yuan.
3. Strait Innovation: On the evening of the 12th, it was announced that the company received the "Prior Notice of Administrative Punishment" issued by the Zhejiang Securities Regulatory Bureau, and the Zhejiang Securities Regulatory Bureau planned to decide to give a warning to the company and impose a fine of 600,000 yuan due to suspected violations of laws and regulations; gave warnings to the then executives Huang Henry, Xiang Jian, and Huang Menma, and imposed fines of 300,000 yuan each; Zhou Weili, the executive at the time, was given a warning and fined 200,000 yuan. According to the relevant regulations, the company's shares have been suspended for one day since the market opened on May 13, and resumed trading since the market opened on May 14 and was subject to "other risk warnings". From May 14, the stock abbreviation will be changed from "Strait Innovation" to "ST Gorge Innovation".
4. Tianyu Digital: On the evening of the 12th, it was announced that the company received the "Notice of Case Filing" and "Notice of Retention in Custody" from the Ningxia Hui Autonomous Region Supervision Commission, and Xu Dewei, chairman and general manager of the company, was investigated and placed in custody by the Ningxia Hui Autonomous Region Supervision Commission on suspicion of joint duty violations.
5. Huijin shares: announced on the evening of the 12th that the company received the "Administrative Penalty Decision" issued by the Hebei Securities Regulatory Bureau, which showed that the company's 2021 annual report had false records and failed to disclose major matters as required, and the Hebei Securities Regulatory Bureau decided to give a warning to the company and impose a fine of 2 million yuan. According to the relevant regulations, the company's shares have been suspended for one day since the market opened on May 13, and the "other risk warning" has been implemented since the market opened on May 14, and the stock abbreviation has been changed from "Huijin shares" to "ST Huijin".
6. Baoli International: On the evening of the 12th, the company announced that the company intends to transfer 100% of the equity of its wholly-owned subsidiary, Jiangsu Huayu General Aviation Co., Ltd. (hereinafter referred to as "Huayu General Aviation"), at a price of 11.10 million yuan, to Jiangxi Junlong General Aviation Co., Ltd.
After this transaction, the company's general aviation business will be handled by Jiangsu Baoli Aviation Equipment Investment Co., Ltd., Deqing Chengyi Aviation Engineering Technology Co., Ltd. and Shanghai Chengyi Financial Leasing Co., Ltd. The company will deepen the whole industry chain service of civil helicopters and play a good role as a service provider in the general aviation market.
7. Pulit: It was announced on the evening of the 12th that the holding subsidiary Haisida recently signed a purchase and sales framework contract with Shanghai Hirano for sodium battery products with a total amount of not less than 1.5GWh, which will be delivered in batches from May 2024 to December 2026, and the products will eventually be mainly used in the world's well-known electric forklifts, low-speed vehicles, functional vehicles and other fields. The two companies will make use of their respective advantages and work closely together to develop the global special vehicle market.
8. China Industrial International: On the evening of the 12th, it was announced that Beijing Lifting and Transportation Machinery Design and Research Institute Co., Ltd., a wholly-owned subsidiary of the company, and North Huajin United Petrochemical Co., Ltd. signed a fine chemical and raw material engineering project - a complete set of equipment procurement project for finished product packaging and warehouse automation three-dimensional warehouse. According to the contract, the procurement contract amount of the project is 108 million yuan.
9. Yuyuan shares: announced on the evening of the 12th that on May 11, 2024, the company held the 26th meeting of the 11th board of directors and the 17th meeting of the 11th board of supervisors, and deliberated and passed the "Proposal on Terminating the Issuance of A Shares to Specific Targets in 2023 and Withdrawing the Application Documents", and the board of directors and the board of supervisors agreed that the company would terminate the issuance of A shares to specific objects in 2023 and withdraw the application documents.
10. ST Zhizhi: It was announced on the evening of the 12th that the shareholder ENN Xinzhi plans to increase its holdings of the company's shares with its own funds of not less than 50 million yuan and not more than 100 million yuan. ENN Xinzhi is the person acting in concert with ENN Energy Supply Chain Co., Ltd., the controlling shareholder of the Company.
Selected Research Reports
The CITIC Securities research report pointed out that the macro policy environment continues to improve, many positive factors are accumulating, all kinds of funds rush to promote the comprehensive repair of China's assets in the near future, optimism is budding, the market has returned to normal, it is recommended to dilute the game, and focus on the three main lines of excellent growth, low-volatility dividends and active themes.
The research report of Bank of China Securities pointed out that compared with the market valuation of major developed countries, Chinese assets still have a high valuation margin of safety. Looking ahead, the positive factors are gradually increasing, the policy is expected to further strengthen the expectations of the entity and residential sectors, and the marginal return of overseas allocation funds is expected to bring valuation support. At the allocation level, the high-quality new productivity industry is still the most resilient track, and the core assets and pro-cyclical have certain valuation repair opportunities.
Reporter: Zhang Jing Editor: Wang Yin Proofreader: Zhang Diange
Producer: Li Ruoyu Issued by: Sun Hong
