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Juquan Technology subscription today;
National Standing Committee: Continuing policies for stabilizing the economy should be released in early September;
New order index rebounded significantly, and the manufacturing PMI in August was better than expected;
Three departments: Gradually incorporate water use rights trading into the public resource trading platform system;
Guangdong: Encourage cities and cities to carry out "old-for-new" activities for home appliances;
Vanke Yu Liang: If the market shrinks too much, it will accumulate spontaneous repairs. Momentum;
BYD responded to Buffett reduction in holdings: No need to over-interpret, the company's operations are normal;
bill interest rates rose abnormally at the end of August, and multiple signals showed that credit was warmer;
FTSE Russell Multiple important indexes adjusted constituent stocks , "Traditional Chinese Herbs", "Cement Herbs", etc. were removed from A50;
US stocks three major indexes closed down collectively, and the Dow Jones fell 0.88%.
overnight foreign market
US stocks closed down for four consecutive days. As of the close, Dow Jones Index fell 0.88%, Nasdaq Index fell 0.56%, and S&P 500 Index fell 0.78%. On the market, most technology stocks fell, bank stocks were weak, and most popular Chinese stocks rose. Shangmax Technology rose by more than 14%, Yixian E-commerce fell by nearly 12%, Douyu rose by more than 10%, Huya Group rose by more than 8%, and Pinduoduo and Bilibili rose by more than 7%.
All three major European indexes fell. As of the close, the FTSE 100 index in the UK fell 1.05%, the French CAC40 index in fell 1.37%, and the German DAX30 index in fell 0.97%.
Hot Topics
1. State Council Meeting: Continuing policies for stabilizing the economy should be released in early September
According to CCTV.com , Premier Li Keqiang presided over the State Council Executive Meeting on the 31st to listen to the supervision and service report on stabilizing the economy market , deploying full release of policy efficiency and accelerate the expansion of effective demand; determining measures to further optimize the business environment and reduce institutional transaction costs, and continuously activate market entities. The meeting pointed out that it is necessary to implement the deployment of the CPC Central Committee and the State Council, keep the economy running within a reasonable range, and strive for the best results. In response to the impact of factors that exceed expectations in the economy, we can use all the policy tools we have reserved in the past two years in the early stage and promptly and decisively introduced a package of policies and continuation policies to stabilize the economy. Because market entities encountered more difficulties in some aspects than in 2020, this year's tax refund tax reduction and fee reduction and other tax refunds have exceeded 2020, and strong policies to stabilize investment and promote consumption have been introduced. The overall policy scale is reasonable and moderate.
meeting pointed out that the State Council recently dispatched working groups to major economic provinces to supervise and serve the economic market. We must use the " deregulation, regulation and service " reform method to promote the effectiveness of the package of policies to stabilize the economy. We should provide all subsequent policy rules in early September, and strive to expand effective demand and consolidate the foundation for economic recovery.
2. New order index rebounded significantly. The manufacturing PMI in August was better than expected.
. National Bureau of Statistics Service Industry Survey Center and . Data released by the China Federation of Logistics and Procurement yesterday showed that the manufacturing purchasing managers index (PMI) in August was 49.4%, slightly higher than last month, slightly better than market expectations. Among them, the PMI of consumer goods manufacturing in August rose by 0.9 percentage points from the previous month, rising for four consecutive months, indicating that both the supply and demand sides of the consumer goods manufacturing industry maintained a stable and rapid growth momentum. In addition, new export orders have also rebounded, and domestic and foreign demand has shown signs of simultaneous stabilization.
However, overall, the manufacturing PMI in August is still below the boom and bust line . Analysts believe that the long-term economic downward pressure cannot be underestimated, and the small and medium-sized enterprises' PMI is still running below the boom and bust line, especially the small enterprises' PMI has declined compared with last month. At present, small and medium-sized enterprises continue to operate tightly, and the difficulties are prominent. The work of protecting market entities and helping enterprises relieve difficulties still needs to be further strengthened.
3. Three departments: Gradually incorporate water use rights trading into the public resource trading platform system
Recently, the Ministry of Water Resources, the National Development and Reform Commission, and the Ministry of Finance jointly issued the "Guiding Opinions on Promoting the Reform of Water Use Rights". The "Opinion" clearly states that the water rights trading platform will be improved. Establish and improve a unified national water rights trading system, unify trading rules, technical standards, and data specifications, unify deployment and hierarchical application, and further standardize water rights trading behavior.In accordance with the work deployment of the State Council to establish a unified public resource trading platform, water use rights trading will be gradually incorporated into the public resource trading platform system, strengthen information resource sharing and mutual recognition, accelerate the interconnection of the water rights trading system and information systems such as water intake licenses and electronic certificates, and support the safe, efficient and standardized development of water use rights trading. Promote the centralized trading of with water use rights relative to . Water rights trading should be conducted on national and local water rights trading platforms (including public resource trading platforms promoted by local people's governments that have included water rights trading).
4, the National Development and Reform Commission and six other departments: The launch conditions for the linkage mechanism for price subsidy for phased reduction
, the National Development and Reform Commission and six other departments issued a notice on the phased adjustment of the linkage mechanism for price subsidy for the needy. It mentioned that the conditions for starting the price subsidy linkage mechanism are phased down. The monthly year-on-year increase of CPI in the start-up conditions reached 3.5% in a phased manner to 3.0%. At the same time, the starting conditions for the year-on-year increase of food prices in the CPI will remain unchanged. If any conditions are met, the price subsidy linkage mechanism will be activated. Where the basic living cost price index (SCPI) of low-income urban residents can be used, the starting conditions can be set reasonably when referring to the monthly year-on-year increase of CPI to reach 3.0%. The implementation period is from September 2022 to March 2023 (corresponding to the price index from August 2022 to February 2023). Where the current startup conditions have been appropriately reduced, the startup conditions can be further reduced in stages based on local actual conditions, and the startup conditions must not be raised.
5. Guangdong: Encourage all cities to carry out the "old for new" home appliances
The General Office of the Guangdong Provincial People's Government issued the "Several Measures for Guangdong Province to Increase Strength to Continue to Promote Consumption", which proposed that all cities and cities are encouraged to carry out the "old for new" home appliances from September 1 to November 30, 2022, and the province will implement a reward and subsidy policy for the activities of various cities. Through the method of "government support and enterprise promotion", comprehensively promote home appliance consumption. Provincial finance will reward and subsidize the actual expenditure (write-off amount) of the eight major categories of household appliances "old for new" through financial funds for TVs, air conditioners, washing machines, refrigerators, computers, mobile phones, rice cookers, and water heaters. Subsidize the Pearl River Delta cities (excluding Shenzhen) at a rate of 50% of their actual expenditure, and subsidize the cities in eastern, western, northern Guangdong at a rate of 70% of their actual expenditure. Provincial finance will determine the highest subsidy funds based on the scale of the household appliance consumption market in each city and issue them in pieces.
6. Guangdong: Guangzhou and Shenzhen further improve the requirements for car purchase qualifications and increase car purchase indicators
The General Office of the People's Government of Guangdong Province issued a notice on Guangdong Province to increase efforts to continuously promote consumption. The measures propose that Guangzhou and Shenzhen further improve the requirements for car purchase qualifications and increase car purchase indicators. Fully implement the policy of reducing the tax on vehicle purchase tax for complying with the requirements by half and reducing the value-added tax on old car transactions by used car dealers from 2% to 0.5%.
7. From September 1, you must hold a nucleic acid negative certificate within 48 hours after leaving Shenzhen. According to Shenzhen, since August 28, there have been many confirmed positive cases in Shenzhen. In accordance with the general strategy of "preventing imports from outside and preventing rebound from inside" and the general policy of "dynamic zeroing", according to the current needs of the prevention and control of the new crown epidemic, strict management will be carried out. The general public will not leave the deepest unless necessary. If they really need to leave the deepest, from 0:00 on September 1, according to relevant prevention and control regulations, they must hold two negative nucleic acid test certificates within 48 hours; party and government organs at all levels, state-owned enterprises and institutions, etc. take the lead in implementing the requirements for non-necessary non-necessary.
8. Vanke Yu Liang: The market contracted too much, but instead it will accumulate momentum for spontaneous repair
On the morning of August 31, Vanke held the 2022 interim performance meeting. At the meeting, facing the real estate market situation that the outside world is most concerned about, Vanke Chairman Yu Liang reiterated his judgment at the June shareholders' meeting: In the short term, the market has bottomed out in , but recovery is a slow and gentle process. He believes that if the market contracts too much, it will accumulate momentum for spontaneous recovery and believe in the power of residents to pursue a better life and improve living conditions.
9. Bill interest rates rose abnormally at the end of August. Multiple signals showed that credit warmed up
0 At the end of August, the bill market interest rates staged a reversal.Unlike the usual ticket collectors at the end of the month, and even the bill market showed a "zero interest rate", in the last few trading days of August, the strength of the bill issuer increased, and the reason why the bill interest rate rose sharply. Market insiders analyzed that the sharp reversal of the bill market interest rate in the last few days of August is related to the recent news that regulators intend to adjust the "ticket-to-loan ratio"; on the other hand, it also indirectly reflects that the bank loan issuance is good and the momentum of "impulse" of allocating bills has weakened.
10, and FTSE Russell's major index adjustment components "Traditional Chinese Herbs", "Cement Herbs", etc. were removed from A50
htmlOn August 31, the international index compilation company FTSE Russell announced the latest review results of the FTSE Global Stock Index series, among which the FTSE China 50 Index, FTSE China A50 Index , FTSE China A150 Index, FTSE China A200 Index, and FTSE China A400 Index were adjusted. The above index adjustment results will take effect after the close of Friday, September 16 (i.e. Monday, September 19). The latest index adjustment review results released by FTSE Russell show that FTSE China A50 index added 00 million wei Lithium Energy , China Petroleum , Shaanxi Coal Industry as component stocks, and also eliminated Conch Cement , China Pacific Insurance, and Pianzihuang. The FTSE A150 index has added 11 shares including Conch Cement, China Taiping Insurance, Jinlang Technology , Huaneng Hydropower, Zhongtian Technology , Deye Co., Ltd., Top Group, China Insurance , Salt Lake Co., Ltd., Maiwei Co., Ltd., , Pianzihuang, etc.Theme Opportunities
1. Global interest in nuclear energy is rekindled. my country's nuclear power has ushered in a new round of development opportunities
According to media reports, the South Korean Ministry of Industry, Trade and Resources has announced the "10th Basic Plan for Power Supply" (draft). The new plan will increase the proportion of nuclear power from 23.9% to 32.8% by 2030 and reduce the proportion of renewable energy from 30.2% to 21.5%. After the Russian-Ukrainian conflict, global interest in nuclear energy has rekindled due to intensified gas and oil shortages. Japanese Prime Minister Kishida Fumio said last week that he would like to accelerate the development of next-generation nuclear power plants and extend the operating period of nuclear power plants. The Ministry of Industry and Information Technology and five other departments jointly issued an action plan to accelerate the green and low-carbon innovation and development of power equipment, pointing out further accelerating the batching of third-generation nuclear power and accelerating the research and development and application of fourth-generation nuclear power equipment. Currently, nuclear power generation in my country accounts for about 5%, while the global average account is 10.6%, with broad development space. The "Annual Development and Outlook of China's Nuclear Energy (2020)" mentioned that it is estimated that by 2025, my country's nuclear power installed capacity will reach 70 million kilowatts and the installed capacity of nuclear power under construction will reach about 30 million kilowatts. During the 14th Five-Year Plan period, my country's independent third-generation nuclear power is expected to advance steadily at the approval pace of 6-8 units per year. Based on this calculation, during the 14th Five-Year Plan period, my country's average annual investment in nuclear power construction will reach 103.6 billion to 138.2 billion yuan. Related companies include China National Nuclear Technology, China National Nuclear Power, etc.
2. Guangdong has increased its efforts to continue to promote consumption. It will carry out home appliances for old-for-new
The General Office of the Guangdong Provincial Government issued a notice on increasing its efforts to continue to promote consumption. It encourages cities and cities to carry out the "old-for-new" home appliance "old-for-new" activity from September 1 to November 30. The provincial finance will reward and subsidize the actual expenditure (write-off amount) of eight major categories of home appliances for TVs, air conditioners, washing machines, refrigerators, computers, mobile phones, rice cookers, and water heaters through fiscal funds. The notice also proposes to continue to optimize the automobile consumption environment, Guangzhou and Shenzhen further improve the requirements for car purchase qualifications and increase car purchase indicators. Galaxy Securities believes that the external negative factors such as price increase in raw materials and poor shipping faced by the home appliance industry have gradually improved in the second half of the year. Under the background of stable growth, factors such as marginal improvement in real estate prosperity, issuance of consumption coupons, and the epidemic suppression of consumption release have promoted the improvement of home appliance demand. Due to the fact that the sector has adjusted a lot in the early stage, its valuation is at a historically low level and its investment value is high. Related companies include Haier Smart Home , Gree Electric Appliances , etc.
3, valuation bottomed out and sector performance was better than expected, and medical device leaders attracted attention. Data shows that last week, listed companies in Shanghai and Shenzhen received 17,253 institutional surveys, and the number of medical device leading stocks ranked first. Among them, Mindray Medical received more than 400 institutions' surveys; medical device listed companies such as Kaili Medical, Lepu Medical , and Yuyue Medical also received more than 100 institutions' surveys last week. The stock price of the medical device sector has continued to be weak since this year. As of August 30, the medical device sector has fallen by more than 20%. The price-to-earnings ratio of the Shenwan Secondary Industry Medical Device Index is only 14.12 times, at the lowest level in history since 2006. From the perspective of valuation, the sector already has good allocation value. Judging from the semi-annual report performance, medical device companies whose net profit attributable to shareholders increased year-on-year in the first half of the year accounted for more than 60%. In this regard, industry insiders said that the current main driving forces of the medical device industry include population aging and chronic disease to drive the continuous growth of market demand; the promotion of new technologies promotes the expansion of the industry scale; imported products dominate the mid-to-high-end medical device market, and the domesticization rate of the mid-to-high-end medical device market is low, and industry leaders are expected to usher in rapid growth, and related companies include Mindray Medical, Yuyue Medical, etc.
Company News
1. BYD responded to Buffett's share reduction: No need to over-interpret the company's business is normal
According to 21 Finance, Buffett's Berkshire Hathaway sold 1.33 million shares of BYD H shares on August 24. The reporter contacted BYD's investor relations department as an investor. Relevant people said that we only knew it after seeing the disclosure, and we didn't know it in advance. Regarding the various speculations in the market, the above-mentioned person said that there are many statements about market connections, and the specific real situation (reason) is not known, so there is no need to over-interpret it. In addition, the above-mentioned person also said that BYD has not disclosed any major matters recently and the company's operations are normal.
2, Gudwei : There is no data fraud in the company
Gudwei (688390) announced on the evening of August 31 that on August 29, the relevant media published a entitled "Survey| inverter industry data fraud in the entire industry? Articles about Gurivat, Goodway, and Shouhang Xinneng's overseas sales mystery. The company immediately paid attention to the above reports and immediately conducted careful verification. After verification, the above media reports were not true. The company strictly confirms revenue in accordance with the requirements of accounting standards , and there is no data fraud.
3. Xiangxin Technology: Received a fixed-point intent letter of intent for the project. The estimated transaction amount is 5 billion to 6 billion
Xiangxin Technology (002965) announced on the evening of August 31 that the company received a fixed-point intent letter of intent for 10 projects from power battery-related customers from April to August, confirming that the company is a supplier of a number of new energy vehicle power battery box products. The estimated life cycle of is 3-7 years, and the estimated transaction amount is 5 billion to 6 billion pounds. The project end customers include Chinese independent car brands and joint venture brands.
4, Sanxiong Aurora : was staked by Zhuhai Abama Asset Management Co., Ltd., with a shareholding ratio of 5.32%
Sanxiong Aurora (300625) announced on the evening of August 31 that Zhuhai Abama Asset Management Co., Ltd. increased its holdings of Sanxiong Aurora restricted circulating shares 14.9022 million shares through centralized bidding transactions and bulk transactions between May 16 and August 26, accounting for 5.32% of the company's total share capital. Before this equity change, Zhuhai Abama Asset Management Co., Ltd. did not hold shares in the company.
5, Tianxiaxiu: It plans to issue convertible bonds to raise no more than 1.4 billion yuan, and it will be used for new media marketing training bases and other projects
Tianxiaxiu (600556) announced on the evening of August 31 that the total amount of funds raised for planned issuance of convertible bonds will not exceed 1.4 billion yuan, and after deducting the relevant issuance costs, it will be used for new media marketing training base projects, standard scenario-based marketing service platform projects, " West Wujie " content marketing platform upgrade project, and supplementary working capital projects.
6, Polymer: It is planned to issue convertible bonds of no more than 380 million yuan to be used for the nylon new material project
Polymer (605166) announced on the evening of August 31 that the company plans to issue convertible corporate bonds to raise no more than 380 million yuan, and it is used for the 124,000 tons of nylon new material project and the 80,000 tons of nylon new material ( nylon 66) project.
7, Hite Bio : It plans to raise no more than 300 million yuan for the pilot project for the research and development of high-end raw materials drugs
Hite Bio (300683) announced on the evening of August 31 that the company plans to issue shares to specific targets to raise no more than 300 million yuan, and will be used for the pilot project for the research and development of high-end raw materials drugs.
8, Li New Energy: It plans to invest 4.21 billion yuan in new energy power generation project
Li New Energy (001258) announced on the evening of August 31 that the company plans to set up a new subsidiary to invest in the construction of Santanghu .2 million kilowatts/800,000 kilowatt-hour energy storage scale + 800,000 kilowatt-hour wind power project, including 800,000 kilowatt-hour wind power generation and 200,000 kilowatt-hour energy storage system. The total investment of the project is estimated to be 4.21 billion yuan.
9. Aerospace Rainbow: Plans to sign an intention sales agreement for drone products
Aerospace Rainbow (002389) announced on the evening of August 31 that the company recently plans to sign an intention sales agreement for drone products with Aerospace Long March International Trade Co., Ltd., with the amount of the intention agreement is approximately RMB 600 million, accounting for about 20.59% of the company's audited operating income in 2021. This intention agreement is a renewal purchase of a certain type of drone and related supporting products of an overseas customer.
10. Chuanyi Technology: The pilot line of the holding grandson company is about to be put into production
Chuanyi Technology (002866) announced on the evening of August 31 that the company recently received a notice that the installation and commissioning of the production equipment and equipment of the Chuanyi Sodium Electric Project of the holding grandson company is progressing smoothly, and it has met the conditions for pilot production and will be put into operation soon. The company plans to hold the "Chuanyi Sodium Electricity Pilot Ceremony, Chuanyi Sodium Ion Battery Research Institute Unveiling Ceremony, Chuanyi Sodium Ion Battery Product Launch Conference" on Gaoyou City on October 27; at the same time, it will hold the " Sodium Ion Battery Industry Innovation High-end Forum".
11, Fuji Co., Ltd.: The subsidiary's battery-grade VC products have officially entered the trial production stage
Fuji Co., Ltd. (002083) announced on the evening of August 31 that the holding subsidiary Fuji New Energy received the opinion of the competent department of the industry in Gaomi City on the same day that the VC project of battery-grade VC products with a production content of more than 99.995% of Fuji New Energy officially entered the trial production stage. It will take a certain amount of time for the project to be produced in small batches in the trial production stage to large-scale production and release of production capacity. The stability of the project production equipment and product quality needs to be continuously observed.
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