Financial Associated Press Morning Post, September 1 (Wednesday)

Macro news

1. The Political Bureau of the CPC Central Committee held a meeting on August 31 and decided to convene the Sixth Plenary Session of the 19th Central Committee of the Communist Party of China in Beijing in November this year.

2. The Ministry of Housing and Urban-Rural Development said that the current focus of affordable rental housing is still to solve the housing problems of key cities with net population inflow, mainly large and medium-sized cities, especially the housing problems of new citizens and young people in these cities.

3. The National Medical Insurance Bureau and other eight departments jointly issued the "Pilot Program for Deepening the Reform of Medical Service Prices", and explored the formation of replicable and generalizable experience in the price reform of medical services through 3 to 5 years of pilots.

4. The State Administration of Market Market Supervision intends to amend the E-commerce Law, and the Draft Opinion mentions that among the legal liabilities of e-commerce platform operators for infringing intellectual property rights on the platform and failing to take necessary measures in accordance with the law, it is added that "if the circumstances are particularly serious, the relevant departments may restrict them from carrying out relevant network business activities until the relevant licenses for network operations are revoked." ”

Industry news

1. Notice of Guangzhou Housing and Urban-Rural Development Bureau on the Establishment of a Reference Price Release Mechanism for Second-hand Housing Transactions. The circular requires that the relevant institutions involved in second-hand housing transactions should take the reference price of second-hand housing transactions as one of the reference bases for conducting business.

2. According to the statistics of the Shanghai Stock Exchange, in the first half of 2021, the Shanghai main board companies achieved a total operating income of 21.96 trillion yuan, an increase of 23.94% year-on-year; the net profit attributable to the mother was 2.08 trillion yuan, and the net profit after deducting non-profit was 1.98 trillion yuan, an increase of 43.15% and 44.40% respectively.

3. According to data from the National Development and Reform Commission, in the first half of the year, the output of ten kinds of non-ferrous metals in the country was 32.55 million tons, an increase of 11% year-on-year, and the growth rate increased by 8.1 percentage points year-on-year. Among them, copper production was 5.15 million tons, an increase of 12.2%, an increase of 7.6 percentage points; electrolytic aluminum production was 19.64 million tons, an increase of 10.1%, an increase of 8.4 percentage points.

4, Shanghai Steel Federation data show that on the 31st lithium battery industry chain products rose again, of which 56.5% (electricity / micron) lithium hydroxide rose by 7500 yuan / ton, 56.5% (electricity / crude particles) lithium hydroxide rose by 6000 yuan / ton.

5. According to the data released by the China Automobile Dealers Association, the inventory warning index of automobile dealers in August 2021 was 51.7%, down 1.1 percentage points year-on-year and 0.6 percentage points from the previous month.

Company News

1. Sanan Optoelectronics announced that the National Integrated Circuit Industry Investment Fund, which holds 8.469% of the shares, intends to reduce its holdings by no more than 2%.

2, Ewell Lithium can disclose the clarification announcement, as of now, the company has not negotiated with Tesla on the cooperation of 4680 large cylindrical batteries, and the relevant reports are not based.

3. Zhongtian Financial announced that the transfer price of Zhongtian City Investment was tentatively set at 18 billion yuan

4. Jingsheng Electromechanical Announcement, signed a procurement contract for 6.08 billion yuan of automatic crystal growth furnace, accounting for 159.62% of the company's annual operating income in 2020.

5. Haohua Energy announced that the Beijing Securities Regulatory Bureau proposed to impose a fine of 600,000 yuan on the company, including the then chairman of the board, and other 3-year market bans

6. The net loss of the State Railway Group in the first half of the year was 50.7 billion yuan and will accelerate the process of upgrading the high-quality assets of the railway

7. Xingyuan Material Announcement, intends to supply wet diaphragm to lg new energy The amount of the agreement is about 4.311 billion yuan

8. The Shanghai Stock Exchange issued a regulatory work letter to Ping An of China on related matters, and Ping An responded that in response to some recent routine inquiries about market rumors, all the company's operations are currently working normally.

9. Yuntianhua announced that the company's current lithium iron phosphate production capacity the controlling shareholder intends to reduce its holdings by no more than 2% of the shares

10. Nongshang Environmental Announced that the shareholders intend to transfer a total of 11.34% of the company's shares by agreement

11. Runhe Software announced that it intends to acquire all the equity of three companies such as Runlian Information for 518 million yuan

12. Tencent issued a statement on the waiver of the exclusive authorization right of music copyright, and the upstream copyright owner can authorize other operators on its own

13. Wanlong responded to the high-priced import of frozen pork that harmed the interests of listed companies: the price difference was large, one was conducive to Shuanghui's participation in market competition, and the other was conducive to the company's cost reduction

14. China Evergrande announced that the Group sold property units to suppliers and contractors to offset part of the arrears, with a total amount of about 25.17 billion yuan

15. The latest progress of Brilliance's bankruptcy and restructuring: BMW China purchased the "Zhonghua" brand for 1.633 billion yuan

Global markets

U.S. stocks closed lower en masse, with the Dow closing down 0.12%, the NASDAQ closing down 0.04%, the S&P 500 closing down 0.14%, and the semiconductor, banking, steel and energy sectors dragging down the broader-cap index.

WTI crude futures closed down more than 1 percent, with U.S. crude inventories falling more than expected last week.

Comex December gold futures closed down 0.3 percent at $1818.10 an ounce.

The ECB's Governing Committee said it plans to end emergency anti-epidemic bond purchases in March next year.

Investment Opportunity Reference

1. Ministry of Housing and Urban-Rural Development: Increase efforts in promoting the installation of elevators in conditional buildings and improving the property management of old residential areas

Huang Yan, vice minister of the Ministry of Housing and Urban-Rural Development, said at the press conference on the 31st that in the next stage, the Ministry of Housing and Urban-Rural Development will focus on the problem of the masses' "urgent difficulties and expectations", and increase efforts in promoting the installation of elevators in conditional buildings and improving the property management of old residential areas, so as to further enhance the people's sense of gain, happiness and security.

Institutional analysis pointed out that with the increase in the construction of real estate, rail transit, old reform and other infrastructure construction, to promote the continuous expansion of domestic escalator equipment demand, the after-market is also expected to gradually enter a period of rapid development, downstream real estate new started area growth and stock market update replacement demand will support the elevator industry continue to grow steadily. It is estimated that as of 2025, the average annual compound growth rate of elevator sales in China is expected to reach 9%, and the sales volume of the whole elevator is expected to reach 1.1 million units in 2021.

Among the A-share listed companies, Guangri Co., Ltd. (600894) is the largest elevator manufacturer in South China. The elevator machine and parts business has four manufacturing bases in Guangzhou, Tianjin, Kunshan and Chengdu, forming a national production capacity radiating south China, north China, east China and west China. As an independent brand leader, Kangli Elevator (002367) has 60% of its core components manufactured independently, and its orders in hand exceeded 7 billion yuan in the first half of the year.

2, a number of indicators are ranked first in the world 5G field will accelerate construction

At the Third World 5G Conference "5G and Industry Application Standardization Forum", Han Xia, chief engineer of the Ministry of Industry and Information Technology, pointed out that at present, China's 5G base stations account for more than 70% of the world, 5G application innovation cases have exceeded 10,000, the number of 5G standard essential patent declarations accounts for more than 38%, and the number of 5G terminal connections accounts for more than 80% of the world, ranking first in the world. Han Xia stressed that one of the problems that is difficult to promote the industrial Internet at present is that the cost of terminal modules is too high, and he hopes that the standardization organization will play a role in launching economical 5G chips and lightweight modules as soon as possible, reducing costs, opening up the key links of the industry's large-scale development, and making 5G applications faster.

According to media reports, Huawei and other equipment manufacturers are actively promoting the reduction of 5G module prices, the current price of 5G modules has dropped to about 1,000 yuan, with the gradual maturity of the industrial chain, 5G module prices are expected to be further reduced. The Ministry of Industry and Information Technology's "5G Application Sail Plan" clearly states that by 2023, there will be 18 5G base stations per 10,000 people, and the corresponding 5G macro stations will reach more than 2.6 million.

Among the A-share listed companies, the main products of Dongshan Precision (002384) include structural parts and components such as mobile communication base station antennas and filters. Xintian Technology (300615) products mainly include resonators, tuning screws, low-pass, transmission main rods, capacitive coupling sheets, capacitive coupling rods, dielectrics, covers, etc., mainly used in the RF devices of mobile communication base stations.

3, Anse honey price in August cumulative increase of up to 25%

According to industry data, on August 30, the mainstream offer of acesulfametic market reached 75,000 yuan / ton, up 0.5 million yuan / ton from yesterday, an increase of 7.14%. After this round of rise, Ansemi has increased its price by 15,000 yuan / ton in August, with a cumulative increase of 25%.

It is reported that the short-term raw material prices are high and firm, the cost support is strong, coupled with the strong market demand, other sweetener price increases, etc., under the support of many parties, it is expected that the price of acesulfame potassium will run at a high level, and there is no shortage of possibilities to continue to push up. Institutional analysis pointed out that the current domestic saccharin, cyclamate and other traditional food additives production capacity of about 95,000 tons, acesulfame potassium as a new sweetener, the current global demand of about 30,000 tons, at an annual rate of 5-10% growth, the replacement space is larger.

Among the A-share listed companies, Jinhe Industry (002597) is the leader of the domestic food additive subdivision industry, with acesulfame and sucralose sugar substitute products, the current annual production capacity of Acesulfame is 12,000 tons, the annual production capacity of sucralose is 8,000 tons, and the main raw materials have achieved self-sufficiency. The 15,000 tons of acesulfame potassium (acesulfame) by-product 63,000 tons of ammonium sulfate project invested by Acetate (603968) is currently under construction.

April, September gold stocks are coming! The main line of growth is still booming

Yesterday, the A-share interim report disclosed a successful conclusion, fundamentally, more than 70% of the companies reported performance growth, and the growth rate of science and technology innovation board enterprises led. Today is the first trading day in September, after the end of the mid-term report, institutions have given new investment advice for the last month of the third quarter.

Zheng Xiaoxia, chief of Huaan Strategy, said that standing at the end of the mid-report market, the growth line is still booming, so the performance angle is expected to continue in the short term, forming a strong support for the growth style market. Chen Guo, chief of Anxin Strategy, said that from the perspective of current market characteristics, prosperity and policy orientation, the main line of A-shares is still in the high-boom track such as new energy and military industry and its upstream raw material industries, for cyclical stocks, the future allocation should focus on the high prosperity support of demand, while the supply benefits from carbon neutrality and limits the logic of high energy consumption.