[Abstract] Huibo Yuntong and Zhongke Meiling today's new stock subscription; Central Bank : The situation of financial deviating from real to virtual and blind expansion has been fundamentally reversed; Central Bank: The basic framework of financial stability guarantee fund has been initially established, and there has been a certain amount of funds accumulated; the central bank decided to adjust the foreign exchange risk reserve ratio for forward foreign exchange sales business to 20%; Three departments: Continue the policy of exempting new energy vehicles from vehicle purchase tax; National Energy Administration : Increase the construction of new power infrastructure; Ministry of Agriculture and Rural Affairs held a departmental coordination meeting to study and deploy the work of stabilizing production and supply of live pigs in the fourth quarter; US stock three major indexes closed down collectively, and the Dow Jones fell 1.1%.
overnight foreign trading
US stocks fell for five consecutive trading days, the Dow Jones Industrial Average fell 1.1%, the Nasdaq fell 0.6%, the S&P 500 index fell 1.02%, the oil and gas and precious metals sectors ranked the top in the decline, MAG Silver fell more than 7%, Karon Oil fell more than 5%, and Petrobras fell more than 3%. Airline stocks fell, with WestAir and JetBlue falling by more than 4%. Large technology stock rose and fell mixed, Meta Platforms fell nearly 3%, Nvidia and Intel fell more than 2%, and Amazon rose more than 1%. Popular Chinese stocks rose and fell mixed, Ideal Auto and Zhihu rose more than 5%, and Xiaopeng Motors rose more than 4%. Yingxi Group fell by more than 11%, Douyu and Zhifu Financing fell by more than 7%, Daily Youxian fell by more than 6%, and iQiyi and Weibo fell by more than 3%.
The three major European indexes are mixed. As of the close, the UK FTSE 100 index rose 0.03%, French CAC40 index fell 0.24%, and German DAX30 index fell 0.46%.
Hot Topics
1. Central Bank: The situation of financial deviating from reality to virtual and blind expansion has been fundamentally reversed
On September 26, People's Bank of China released the eighth chapter of the series "Take the Road of Financial Development with Chinese Characteristics " "Preventing and Resolving Financial Risks and Improving the Long-term Mechanism for Financial Stability", written by the Financial Stability Bureau of the Central Bank. The article points out that after three years of concentrated efforts, a number of prominent risk points with urgency and overall nature have been effectively dealt with, the situation of financial deviating from reality to virtual and blind expansion has been fundamentally reversed, and financial risks have been converged overall and controllable overall. At present, my country's financial system is generally stable, which is prominently reflected in the stability of financial institutions. The article also pointed out that the People's Bank of China will continue to do a good job in financial reform, development and stability, further consolidate the foundation for the stable operation of finance, and firmly maintain the bottom line of avoiding systemic financial risks.
2. Central Bank: The basic framework of the financial stability guarantee fund has been initially established, and there has been a certain amount of funds accumulated
The official WeChat of the Central Bank issued a statement on the 26th saying that according to the relevant work arrangements of the central government, in 2022, the People's Bank of China, in conjunction with relevant departments, will accelerate the establishment of a financial stability guarantee fund. The Financial Stability Guarantee Fund is positioned as the funds controlled by the central government to deal with major financial risks. The funds come from financial institutions, financial infrastructure and other market entities. They operate and cooperate with deposit insurance funds and related industry guarantee funds to jointly maintain financial stability and security. In handling major financial risks, financial institutions, shareholders and actual controllers, local governments, deposit insurance funds and related industry guarantee funds should fully invest corresponding resources in accordance with the law and responsibilities. If there is still a gap, the Financial Stability Guarantee Fund shall be used in accordance with procedures after approval. At present, the basic framework of the Financial Stability Guarantee Fund has been initially established and a certain amount of funds have been accumulated.
3. The central bank decided to adjust the foreign exchange risk reserve ratio for forward foreign exchange sales business to 20%
to stabilize foreign exchange market expectations and strengthen macro-prudent management . People's Bank of China decided to increase the foreign exchange risk reserve ratio for forward foreign exchange sales business from 0 to 20% starting from September 28, 2022.
4, new energy vehicle purchase tax exemption policy was postponed to the end of 2023
The Ministry of Finance, the State Administration of Taxation, and the Ministry of Industry and Information Technology issued an announcement that vehicle purchase tax will be exempted for new energy vehicles that purchase dates from January 1, 2023 to December 31, 2023. New energy vehicles exempt from vehicle purchase tax will be managed through the Ministry of Industry and Information Technology and the State Administration of Taxation.Pure electric vehicles, plug-in hybrid (including extended-range) vehicles, and fuel cell vehicles purchased from the date of publication of the Catalog, are new energy vehicles that meet the duty-free conditions.
5. National Energy Administration: Increase efforts to build new power infrastructure
Deputy Director of the Planning Department of the National Energy Administration Song Wen said at a press conference today that efforts to build new power infrastructure. Implement renewable energy substitution actions and steadily promote the construction of large-scale wind power photovoltaic bases, southwest hydropower bases and power transmission channels focusing on deserts, Gobi and desert areas. In principle, the power transmission ratio of renewable energy is not less than 50%. Promote the construction of a number of major hydropower and nuclear power projects, and the installed capacity of conventional hydropower and nuclear power in 2025 will reach about 380 million and 70 million kilowatts respectively. Deeply implement the "three reform linkage" of coal-fired power energy-saving and carbon reduction transformation, flexible transformation, and heating transformation, and promote the demonstration application of carbon capture, utilization and storage technology (CCUS). Optimize the layout of charging infrastructure, promote the integrated development of new energy vehicles and power systems, and encourage the implementation of technical application demonstrations such as orderly charging and electric vehicle transmission of power to the power grid (V2G).
6. The Ministry of Agriculture and Rural Affairs held a departmental coordination meeting to study and deploy the work of stabilizing pig production and ensuring supply in the fourth quarter
On September 26, the Ministry of Agriculture and Rural Affairs held a departmental coordination meeting in Beijing to study and deploy the work of stabilizing pig production and supply in the fourth quarter. The meeting pointed out that the current situation of pig production and supply continues to improve, the number of breeding sows is at a normal level, the number of pigs in and the number of new pigs in large-scale pig farms are both higher than the same period last year, and the number of fat pigs on the market is sufficient in the later period and the market supply is guaranteed. The meeting required that there are many holidays and major events in the fourth quarter of this year. All localities and relevant departments should improve their political stance, strengthen their sense of responsibility, and do a solid job in key tasks of stabilizing production and ensuring supply of live pigs.
7. Song Wen of the National Energy Administration: About 4 million charging infrastructure have been built to form the world's largest charging network
According to China Network , National Development and Reform Commission held a press conference of the National Development and Reform Commission at 10 am on September 26 to introduce the relevant situation of infrastructure construction. Song Wen, deputy director of the Planning Department of the National Energy Administration, said that the construction of energy infrastructure to promote green transformation will be accelerated. The total installed capacity of renewable energy power generation exceeded 1.1 billion kilowatts, an increase of nearly three times from ten years ago, accounting for more than 30% of the world's total renewable energy installed capacity. The installed capacity of hydropower, wind power, photovoltaic and biomass power generation and the scale of nuclear power under construction are firmly ranked first in the world. About 4 million charging infrastructure have been built, forming the world's largest charging network. More than 270 hydrogen refueling stations have been built in total, accounting for about 40% of the world's total, ranking first in the world. Non-fossil energy consumption accounts for nearly one-quarter of the world's total, ranking first in the world.
8. The interest rate on the capital side rose at the end of the quarter. The central bank's net injection exceeded 100 billion yuan to protect liquidity
According to the report of Shanghai Securities , as the interest rate on the end of the quarter rose, the central bank increased the operation of reverse repurchase to protect liquidity. As 2 billion yuan of reverse repurchase expired on the same day, the central bank achieved a net injection of 133 billion yuan in the open market. This is also the largest amount of the central bank's net reverse repurchase in one-day since March 29. "The central bank continues to carry out cross-seasonal care of the capital market, which is significantly increased compared with the previous working day, mainly to boost market confidence. At present, the pressure on funds across months has increased. Under the influence of the end-of-quarter assessment factors, structural tensions in the capital market have emerged, but in an overall loose environment, stable cross-seasonality is still expected." said a fund trader.
Theme Opportunity
1. Mass production of sodium ion batteries is imminent. 2023 is expected to become the first year of industrialization
26. Chuanyi Technology said in an interactive platform that the installation and debugging of various production equipment and devices of the company's sodium ion battery project is progressing smoothly, and it has met the conditions for pilot production and will be put into operation soon. According to the official website of Jiangsu Xiangying New Energy Technology Co., Ltd., the company's 3,000 tons/year sodium-electric materials were officially put into production on September 1 and were supplied in large quantities in mid-September. Dongwu Securities believes that the price of lithium carbonate has soared since mid-2021, and the cost of lithium batteries has increased significantly. Enterprises are seeking breakthroughs in new materials systems. sodium battery has become the first choice because of its natural cost advantages. The cost after large-scale mass production is expected to be reduced to 0.5 yuan/Whpack). It is expected that the sodium battery technology and material system will be basically finalized by the end of this year. 2023 is the first year of sodium electricity industrialization, and small-scale shipments will be achieved. Large-scale mass production will be achieved in 2024, with a scale of 30 GWh, and the global demand for sodium batteries will exceed 100 GWh in 2025. You can pay attention to Huayang Co., Ltd., Zhenhua New Materials, etc.
2, Yunnan hydropower tightness combined with polysilicon demand strong industrial silicon price increases
Yunnan power limit expectations, domestic industrial silicon prices have risen recently. On the 26th, the price of Shanghai Nonferrous Network Industrial Silicon 441 was 21,000 yuan/ton, up 250 yuan/ton from the previous trading day. It is understood that from the demand side, polysilicon companies are in a high operating rate. Polysilicon production in September increased by 20% month-on-month, and demand for silicone also recovered. In terms of supply, Yunnan Industrial Silicon began dynamic power limit management. When the peak of electricity consumption is short of electricity, the industrial silicon will be insulated in the state, and the peak of electricity consumption will be powered on again. At present, the water and electricity shortage in Yunnan, Guizhou and Sichuan is tight, especially in the dry winter, and there is a possibility of further production cuts in industrial silicon. Shenwan Nonferrous team said that in the future, polysilicon and organic silicon will expand in large quantities, and the upstream and downstream production capacity of the industrial chain will be seriously mismatched. Industrial silicon is expected to continue to be tense, and the prosperity will last for at least one and a half years. You can pay attention to Hesheng Silicon Industry, Dongyue Silicon Materials, etc.
3. The Development and Reform Commission, in conjunction with relevant departments, promote the " East Number and West Calculation " project
, Deputy Director of the High Technology Department of the National Development and Reform Commission, said that in the next step, the Development and Reform Commission will work with relevant departments to promote the "East Number and West Calculation" project in three-dimensionally, focusing on strengthening the four coordinations. Further strengthen the implementation of supporting policies such as network, land, energy, and water in the construction of data center projects, and promote the early completion and application of major engineering projects. The analysis pointed out that "East and West Calculation" is a major strategic deployment of the country and is of great significance to promoting the green and high-quality development of data centers and supporting the digital transformation and upgrading of various industries. The implementation of the "East Data and West Calculation" project can support large-scale computing power scheduling and build a new computing power network pattern oriented towards data flow. With the promotion of policies, relevant companies involving "East Data and West Calculation" are expected to usher in development opportunities. You can pay attention to Hengwei Technology , Power Source, etc.
Company News
1. Top Group: It plans to invest 3 billion yuan in the new energy vehicle core parts production base
Top Group (601689) announced on the evening of September 26 that the company and the Xi'an Economic and Technological Development Zone Management Committee signed the "Agreement for the Entry of Auto Parts Production Projects", intending to invest about 3 billion yuan in Xi'an Economic and Technological Development Zone , with a planned land scale of about 400 mu, to build a new energy vehicle core parts production base, and to mainly produce core modules and system components of new energy vehicle, including lightweight chassis, internal and external functional parts, intelligent brake systems, intelligent steering systems, etc. The project is implemented in three phases.
2. Shenzhen Xinxing: It plans to invest 550 million yuan in aluminum alloy foil blanks for lithium batteries
Shenzhen Xinxing (603978) announced on the evening of September 26 that its wholly-owned subsidiary Luoyang Xinxing plans to invest 550 million yuan to use the existing factory in Luoyang Xinxing’s existing factory in Yanshi District, Henan Province to build a production project for aluminum alloy foil blanks for lithium batteries with an annual output of 100,000 tons. The construction period is 2 years.
3, Hezhong Sizhuang : Losing actual control over the two subsidiaries. The Canadian hemisphere and the US hemisphere will be out of the list.
Hezhong Sizhuang (002383) announced on the evening of September 26 that the company received a notice from the wholly-owned subsidiary Canadian hemisphere and the US hemisphere on September 24 that the Canadian hemisphere and the US hemisphere have completed the board of directors reorganization in accordance with the relevant agreements of the "National Security Agreement" signed with the US government. At present, the new board members have no entrusted relationship with the company. The company lost its actual control over the above two holding subsidiaries. The company no longer includes the Canadian hemisphere and the United States hemisphere in the scope of consolidated financial statements. This matter is expected to have a certain impact on the company's consolidated financial statements in 2022.
4. Hengyin Technology: The principal of the purchased trust product is RMB 15 million and the remaining investment income is redeemed overdue
Hengyin Technology (603106) announced on the evening of September 26 that the company purchased the "Chang'an Ning-Yingxiang No. 1 Collective Fund Trust Plan" of Chang'an Trust in 2021. The maturity date is September 9, 2022. At present, the company has received a total of RMB 636,700 of the investment income of the product, and the principal of RMB 15 million and the remaining investment income have not been redeemed at maturity. Changan Trust has frozen the non- restricted circulating shares of a listed company held by the debtor, and has completed the execution case in the Pudong New District Court of Shanghai. The case is currently under compulsory execution. Given that there is still uncertainty in the recovery time of this investment fund and based on the nature of non-guaranteed financial products, there is a risk that principal and interest cannot be fully recovered.
5, Xinya Electronics: plans to acquire Sino-German Cable and Kebao Optoelectronics for 560 million yuan
Xinya Electronics (605277) disclosed a major asset restructuring draft on the evening of September 26. The company plans to purchase 100% of Sino-German Cable and 30% of Kebao Optoelectronics by paying cash, with a total transaction amount of 560 million yuan. Before this restructuring, the company mainly engaged in fine electronic wire business. Through this transaction, the company will take advantage of the target company's advantages in sub-industry fields such as flame-retardant and fire-resistant cables, optoelectronic hybrid cables, industrial control automation cables, medical device cables, etc., to expand horizontally in the industrial chain and further integrate resources.
6, Boqian New Materials: It plans to raise no more than 828 million yuan from the actual controller of the company to raise no more than 828 million yuan
Boqian New Materials (605376) announced on the evening of September 26 that it plans to raise no more than 828 million yuan from the actual controller of the company to raise no more than 828 million yuan to supplement working capital or repay bank debts.
7. Guoxin Health: It plans to raise no more than 794 million yuan in fundraising. The subsidiaries of the actual controller participated in the subscription of
Guoxin Health (000503) announced on the evening of September 26 that the company plans to issue shares to no more than 35 specific objects, including Guoxin Development, to raise no more than 794 million yuan in fundraising, and to invest in the construction project of the three medical digital service system, the health service integration construction project, the commercial insurance data service platform construction project, the R&D center upgrade construction project and the marketing network upgrade construction project. Among them, the number of shares that Guoxin Development plans to subscribe is not less than 25.98% of the issuance quantity, and not more than 40% of the issuance quantity. China Guoxin is the actual controller of the company and directly holds 100% of Guoxin Development's shares.
8, Basme : Net profit in the first three quarters is expected to increase by 141.36%-169.92% year-on-year
Basme (300796) released its performance forecast on the evening of September 26, with net profit expected to increase by 106 million yuan to 119 million yuan in the first three quarters, a year-on-year increase of 141.36%-169.92%, of which the net profit in the third quarter is expected to increase by 379.26%-570.96%. The company focuses on environmentally friendly pesticides and intermediates businesses, and continues to explore new high-quality customers such as BASF, a leading international agrochemical company; the sales pricing of main products has been improved.
9, Jiuguijiu : The company's management plans to increase its holdings of shares by no less than 6.2 million yuan
Jiuguijiu (000799) announced on the evening of September 26 that the company's chairman Wang Hao, vice chairman and general manager Zheng Yi and other management plans to increase their holdings of the company's shares by no less than 6.2 million yuan within two months.
10, Eddie Precision : The controlling shareholder plans to increase his holdings of the company's shares by 50 million to 100 million
Eddie Precision (603638) announced on the evening of September 26 that the company's controlling shareholder, actual controller, chairman and general manager Song Fei plans to increase his holdings of the company's shares within 6 months, with a total increase of no less than 50 million yuan and no more than 100 million yuan.
11, Xusheng Co., Ltd.: The holding subsidiary received a designated notice for customer projects
Xusheng Co., Ltd. (603305) announced on the evening of September 26 that the holding subsidiary Ningbo Hesheng Aluminum Bottle Technology Co., Ltd. recently received a designated notice for development from importers and distributors of a European catering equipment, cream chargers and other products, and selected Hesheng Aluminum Bottle as the designated supplier of its aluminum bottles. According to customer planning, the total annualized sales amount of this designated project is about 800 million yuan, and it is expected to gradually start mass production in the fourth quarter of 2022.
12, Sifang Optoelectronics: Received a designated notice for a famous European OEM project
Sifang Optoelectronics (688665) announced on the evening of September 26 that it received a designated notice for a famous European OEM project, confirming that the company provides it with customized development and supply services for fragrance generators. According to the above-mentioned customer forecast, the above-mentioned project target includes 3 vehicle model platforms, with an estimated life cycle of 5 years, 7 years and 8 years respectively, with a total amount of approximately 154 million yuan.
13, Chuling Information : Winning the bid for China Mobile's miniaturized access PTN equipment centralized procurement project
Chuling Information (300250) announced on the evening of September 26 that the company won the bid for China Mobile's miniaturized access PTN equipment centralized procurement project from 2022 to 2023, with a winning share of 20%. According to the total number of bids of 174,600, the winning bid is about 34,920, and the estimated amount is 16 million yuan. The specific amount is subject to the winning notice or the final framework contract.
14, Seiko Steel Structure : Signed a contract for 445 million yuan to undertake the stadium project for approximately RMB 7
Seiko Steel Structure (600496) announced on the evening of September 26 that the company recently signed the "Te Kaha (Canterbury Multi-Use Arena) Stadium Project Contract" with BESIX Watpac NZ (CMUA) Limited, which will undertake the TE KAHA stadium project in New Zealand. The contract amount is RMB 108 million, equivalent to approximately RMB 445 million.
15, Kelaiying : It plans to invest 4 billion to 5 billion yuan to build an integrated base for biomedical R&D and production
Kelaiying (002821) announced on the evening of September 26 that the company signed an investment agreement with the Management Committee of Taixing Economic Development Zone, Jiangsu Province on the same day, and plans to invest in the integrated base project of the biomedical R&D and production in Taixing . The project is expected to have a total investment of 4 billion to 5 billion yuan. The project plans will be designed, built in phases, and put into production in batches. The main construction contents include: the research and development and production of small molecule CDMO chemical raw materials and raw materials, as well as the construction of future small molecule CDMO drug preparations, drug research and development, and new technology promotion and application.
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