NO.1 On May 18, Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, presided over a symposium to study and deploy further stabilizing growth and stabilizing market entities to ensure employment. Li Keqiang said that since March, especially in April, some economic indicators have weakened significantly, and the new downward pressure on the economy has further increased. should increase macro policies to adjust . has issued policies to be implemented as soon as possible , and Central Economic Work Conference and the policies determined by the "Government Work Report" have been basically implemented in the first half of the year; all regions and departments should enhance their sense of urgency and tap policy potential. New measures that are accurate in can be used up and can be issued in May to ensure that the economy operates within a reasonable range of in the first half of the year and throughout the year.
Li Keqiang said that should focus on stabilizing growth, employment and basic people's livelihood by stabilizing market entities, and implement combined relief policies such as retained tax refund tax reduction, so that the policies can be enjoyed quickly. promotes state-owned enterprises to enhance their core competitiveness and take effective measures to enhance their confidence in the development and growth of private enterprises. supports platform economy, digital economy, legal and compliant with domestic and overseas listing financing . must stabilize land prices and housing prices, support residents' reasonable housing needs, and maintain the stable and healthy development of the real estate market. (Xinhua News Agency)
NO.2 On May 18, Yang Jiechi, member of the Political Bureau of the CPC Central Committee and director of the Office of the Central Foreign Affairs Commission, was on the phone with Assistant to the US President for National Security Affairs Sullivan. Yang Jiechi said that recently, the two sides have held some dialogues in the fields of the two armies, gas change, health, agriculture, etc., which is beneficial, and the momentum of dialogue should be maintained in . Yang Jiechi pointed out that seeking peace, cooperation and development is the general trend of the Asia-Pacific region and the will of the people. China adheres to the concept of friendly, sincere, favorable and inclusiveness, and has always been friendly with neighboring countries, mutually beneficial and win-win results, and shared a shared destiny with neighboring countries. In addition, the two sides also exchanged views on international and regional issues such as the situation on Ukraine and the Korean Peninsula. (Xinhua News Agency)
NO.3 On May 18, data from the National Bureau of Statistics showed that in April, among the 70 large and medium-sized cities, the number of cities with commercial housing sales prices decreased by more than 1,2 and third-tier cities, and the sales prices of commercial housing in first-, second- and third-tier cities showed a decline overall month-on-month and continued to decline year-on-year. In April, among the 70 large and medium-sized cities, there were 47 and 50 cities with new commercial housing and second-hand housing sales prices decreased month-on-month, respectively, an increase of 9 and 5 respectively from the previous month.
E-House Research Institute estimates that the price index of new houses in 70 cities simple arithmetic average was -0.1% in April 2022. Yan Yuejin, research director of the think tank center of the E-House Research Institute, said: "This is the first time since December 2015 (77 months), the arithmetic average of the new housing price index in 70 cities has shown a year-on-year decline in housing prices, and the signal is very strong. The turning point of housing prices fully demonstrates that the real estate market is facing great downward pressure. All kinds of work to stabilize housing prices and expectations need to be accelerated, otherwise the housing price index will continue to cool down, which will have an impact on the stability of the subsequent real estate market. " (Daily Economic News)
NO.4 On May 18, , Weng Jieming, deputy director of of the State-owned Assets Supervision and Administration Commission of the State Council, said that should continue to increase the efforts to inject high-quality assets into listed companies . The group company should systematically sort out the unlisted and listed resources. should gradually inject existing unlisted high-quality assets into listed companies in a planned manner based on actual conditions, and can also be listed separately if necessary. should steadily explore the spin-off and listing of multi-sector listed companies that meet the conditions, and support the spin-off and listing of subsidiaries that are conducive to streamlining business structure, highlighting the advantages of the main business, optimizing industrial layout, and promoting the realization of value. must revitalize or exit the inefficient and invalid listed platform . (China Securities News)
NO.5 Recently, China Banking and Insurance Regulatory Commission and People's Bank of China continue to pay attention to the closure of online service channels of four rural banks in Henan , and has instructed the Henan Banking and Insurance Regulatory Bureau and the People's Bank of China Zhengzhou Branch to effectively perform their local supervision responsibilities and closely cooperate with local party committees, governments and relevant departments to handle it safely. It is understood that Henan New Fortune Group, a shareholder of 4 rural banks, absorbs public funds through collusion between internal and external parties, using third-party platforms and fund brokers, and is suspected of committing illegal and criminal activities. The public security organs have filed a case for investigation of .At present, deposit and withdrawal services of four rural bank branches are underway. (Shanghai Securities News)
NO.6 On May 18, the reporter learned from the Civil Aviation Administration of China that recently, a US media released relevant reports on the cause of the flight accident of the "3.21" China Eastern Airlines MU5735 aircraft. was confirmed by the accident investigators of the Civil Aviation Administration of China and the National Transportation Safety Commission. The other party clearly stated that it had not released any media relevant investigation information . They strictly followed the framework requirements of Annex 13 to the Convention on International Civil Aviation, cooperated with the Civil Aviation Administration of China, and will continue to provide professional technical support for identifying the cause of the accident as needed. At present, the "3·21" China Eastern Airlines MU5735 aircraft flight accident investigation department is carrying out in-depth wreckage identification, classification and inspection, flight data analysis, experimental verification and other related work in accordance with the investigation procedures. (CCTV News)
NO.7 According to Securities Times, Zou Lan, director of the Financial Markets Department of the Central Bank, took office as director of the Monetary Policy Department. At the press conference on the first quarter financial statistics of the central bank held last month, Zou Lan responded to market concerns on real estate financial policies and financial support for small and micro enterprises.
According to the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed in the People's Bank of China and the Tianjin Municipal Supervision Commission: Sun Guofeng, former director of the Monetary Policy Department of the People's Bank of China, is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation . Public information shows that Sun Guofeng was appointed director of the Monetary Policy Department of the People's Bank of China in August 2018; he was dismissed from in May 2022.
Image source: Screenshot of the website of the Central Commission for Discipline Inspection and the National Supervisory Commission
NO.8 On May 18, the Huashan Infection Public Account released a message saying that National Infectious Disease Medical Center, Huashan Infection Zhang Wenhong's team, and Shanghai Public Health Fan Xiaohong's team completed an open and prospective cohort study. evaluated the impact of the domestic anti-coronavirus drug VV116 on the time of nucleic acid turning negative in patients with non-severe Omicron strain . The results were published in the journal Emerging MicrobesInfections on the same day. The results show that the use of in non-severe patients with early infection or symptomatic infection may shorten the time to turn nucleic acid into negative . This is also the first peer-reviewed report on the clinical research results of "domestic" anti-coronavirus drugs on Omickron-infected patients. (Comprehensive of E-commerce)
NO.9 Epidemic Information
:00 on May 17 to 15:00 on May 18, Beijing added 49 new local COVID-19 virus infections, including 4 cases of social screening . At present, social screening has found sporadic cases, and the prevention and control situation in the capital is still severe and complex. Epidemic investigation analysis found that some cases have not participated in nucleic acid screening recently, which not only delayed treatment, but also led to the spread of the epidemic and increased uncertainty in epidemic prevention and control. Fengtai District Yuegezhuang Market related cluster epidemic has reported a total of 78 infections, including 43 staff members and 35 related personnel. Yuegezhuang Wholesale Market is the top priority in handling the current epidemic . upgrades the control of Fengtai District , and does not leave the district unless necessary, and implements home office . Staff who have recently contacted the delivery personnel of Yuegezhuang market are all managed as high-risk personnel.
Fangshan District Yunda Express Changyang Branch reported a total of 50 infected people. Starting from May 19, three consecutive rounds of regional nucleic acid screening were carried out in the four regions of Xicheng , Haidian , Fengtai, and Fangshan . From May 19, commuters must hold a negative nucleic acid test certificate within 48 hours for each entry and exit from Beijing.
From 0:00 to 24:00 on May 18, Shanghai added 82 local confirmed cases of new coronavirus pneumonia and 5,637 asymptomatic infections in , of which 48 confirmed cases were previous asymptomatic infections, and 34 confirmed cases and 637 asymptomatic infections were found in isolation control. For those who really need to drive a motor vehicle to leave Shanghai, such as work, study, and life, they can apply to the relevant units on the premise of complying with the epidemic prevention and control regulations. related personnel drove a motor vehicle to leave Shanghai with a certificate of departure, and went to destinations in other provinces and cities point-to-point. The certificate of departure from Shanghai will be valid within 6 hours from the time of departure of the declaration.
html From 0:00 to 18:00 on May 18, the Tianjin Municipal Disease Control Department reported 19 people with positive nucleic acid tests for the new coronavirus , all of which were found by the control personnel in screening. Tianjin 2022 spring college entrance examination (for ordinary high school graduates and secondary vocational graduates) will be adjusted to be held on June 12th . Hebei District of Tianjin will conduct a nucleic acid test for in the entire region on May 19. (Comprehensive CCTV News)NO.10 [State in Russia and Ukraine] - Latest News
On the 18th local time, Russian Presidential Press Secretary Peskov said that The negotiations between Russia and Ukraine have not been advanced, and Ukraine has no intention to negotiate at all.
On the 18th local time, the Russian Ministry of Defense issued a news report that was surrounded by Ukrainian soldiers and Azov armed personnel in the Mariupol Azov Steel Plant in Ukraine. A total of 694 people surrendered to in the past day and night. Russia said that from the 16th to the present, the total number of Ukrainian troops surrendered has reached 959.
Finnish NATO ambassador Klaus Korhoning and Swedish NATO ambassador Axel Winkhov submitted a letter of application for the two countries to NATO headquarters in Brussels to NATO Secretary-General Stoltenberg for the two countries to join NATO at 8:00 local time on the 18th. If everything goes as planned, the application agreement between Sweden and Finland can be signed within about two weeks, after which the two countries will obtain the status of "invited countries". Turkish President Erdogan reiterated on the same day that he would not agree to Finland and Sweden joining NATO .
Vice Chairman of the Russian State Duma (Lower House of Parliament), Peter Tolstoy, said on the 17th that the State Duma is planning to discuss the possibility of Russia withdrawing from the World Trade Organization (WTO) and World Health Organization (WHO). Tolstoy said, "The Russian Ministry of Foreign Affairs has submitted a list of relevant agreements to the State Duma. We are planning to jointly evaluate these contents with the Federal Council (Parliament Upper House) and then propose to withdraw." (Comprehensive CCTV News, Overseas Network)
Overseas market
US stocks opened low and closed low, and all three major indexes closed sharply. The Nasdaq fell 566.37 points, a drop of 4.73%, the largest drop since May 6; the S&P 500 index fell 165.17 points, a drop of 4.04%, the worst single-day performance since June 2020; the Dow Jones Industrial Average fell 1164.52 points, a drop of 3.57%, the largest drop since June 11, 2020. large technology stocks most closed down sharply, Amazon fell more than 7%, Tesla fell 6.8%, Apple fell 5.64%, Google and Twitter fell nearly 4%. Bank stocks fell collectively, with Citigroup , Bank of America , Wells Fargo falling more than 3%, Goldman Sachs and Morgan Stanley falling more than 2%, and JPMorgan falling 1.7%. The second largest retail consumer group in the United States Target fell 25% to the deepest since "Black Monday" in October 1987.
Pan-European Stoxx 600 index closed down 1.14%, with technology stocks leading the decline with a 2.8%, while most sectors and major national stock indexes fell. The euro zone Stoxx 50 index also closed down 1.4%, while the MSCI ACWI global index fell 2.7% . The stock indexes of Germany, France and Britain both fell by more than 1%, while the Russian stock index rose by more than 0.8%.
WTI June crude oil futures closed down $2.81, down 2.50%, at $109.59 per barrel. Brent July crude oil futures closed down $2.82, or 2.52%, to $109.11 per barrel.
NO.1 Tencent Holdings: On May 18, Tencent Holdings released its first quarter 2022 performance report. The company achieved revenue of 135.471 billion yuan in the quarter, basically the same as the year-on-year; net profit attributable to shareholders (Non-IFRS) was 25.545 billion yuan, a year-on-year decline of 23%. This is the third consecutive quarter of Tencent that saw a negative year-on-year growth in net profit in a single quarter. By business segments, value-added services, online advertising, financial technology and enterprise service businesses achieved revenues of 72.738 billion yuan, 17.988 billion yuan and 42.768 billion yuan in the first quarter of 2022 respectively. Among them, the highly-watched game business achieved revenue of 43.6 billion yuan, the same as the same period last year. Tencent ADR U.S. stocks fell nearly 6.97% at the beginning of the session.
NO.2 Snowwi, GCL Energy: After two days and one night of fierce battle, the equity auction of Snowwi Mining, a western Sichuan lithium mine company, has not yet ended. The auction floor price is less than 4 million yuan, while the auction price has exceeded 350 million yuan, and the bidding delay is more than 2,000 times.The reporter learned that the listed company GCL Energy participated in the auction. In September last year, the company cooperated with the entities under the New Hope Group to invest in new energy upstream resources, and the Sichuan Business Fund initiated by New Hope Group is the second largest shareholder of Snowwi Mining. Regarding participating in the establishment of a partnership, GCL Energy said it is an important measure to intervene in the upstream materials end of new energy such as lithium mines. (Daily Economic News)
NO.3 Yageo: On May 18, the domestic men's clothing giant Yageo issued an announcement stating that the company plans to withdraw from the health industry and donate Puji Hospital and related assets to Ningbo Municipal People's Government . The estimated value of the proposed donated assets is 1.36 billion yuan (determined by the final accounts). The impact of the above donations on the company's net profit in 2022 is expected to be 1.02 billion yuan (determined by the audit data). Relevant persons from the company responded that the company had explored cooperation with multiple partners on the hospital health care industry, but in the end, no results were reached. Donating to the Ningbo Municipal Government is a result of comprehensive considerations of all aspects. On May 18, Yageo's stock price fell, closing at 7.04 yuan, down 3.43%, with a total market value of 32.587 billion yuan. (Comprehensive for each business)
NO.4 Porsche China: On May 18, Porsche China released a solution for the reduction of the steering column with electric adjustment function. Porsche China said that for customers who have previously promised to restore the electric adjustment function of steering columns, Porsche will fulfill its commitment to provide free recovery services for related functions. It is initially expected that the service will be launched in batches starting from the third quarter of this year. For customers who ultimately do not have relevant functions to restore, a unified amount of compensation plan will be provided. For all affected customers, Porsche will provide a one-year extended warranty for the entire vehicle. (Beijing News Beike Finance)
NO.5 Zhonglun Law Firm: On May 18, after conducting on-site inspections of Beijing Zhonglun (Shenzhen) Law Firm, the Shenzhen Securities Regulatory Bureau took regulatory measures to order the firm to correct the matter in accordance with the law, and adopted regulatory measures to issue warning letters to the three lawyers. Previously, on May 16, the title of the legal opinion issued by the institute for the Shenzhen Heertai Intelligent Control Co., Ltd. extraordinary shareholders' meeting wrote the "Extraordinary shareholders' meeting" as the "Deadly Shareholders' Meeting", which attracted public attention.
NO.6 Hengchi: On the evening of May 18, Hengchi’s official account issued a statement saying that the market news circulating online about “Evergrande Auto postponed electric vehicle pre-sales indefinitely” was seriously untrue. Affected by the epidemic, Hengchi 5 was originally scheduled to be mass-produced on June 22, 2022 to September 20, 2022, and the pre-sale work is progressing normally.
Image source: Hengchi official account screenshot
NO.7 Starry Sky Chinese: Recently, Starry Sky Chinese, the father of Canxing Culture, the reorganized father of " China's Voice ", submitted an application for listing to the Hong Kong Stock Exchange, and CICC and CITIC Construction Investment International are the joint sponsors. This is the re-submission after its submission expired in November 2021. The prospectus shows that from 2019 to 2021, Starry Sky Huawen's net profit was RMB 380 million, RMB -27.8 million and RMB -352 million, respectively. iMedia Consulting CEO Zhang Yi said, "From the data of Starry Sky Chinese in the past three years, the company's overall performance has declined significantly. Now it has lost hundreds of millions of yuan. To be honest, it must be a 'blooded listing' and the valuation must be very low. The purpose behind this may be to give capital an explanation, or to complete the bet." (Daily Economic News)
NO.8 Douyu : On May 18, Douyu released its first quarter financial report for 2022. The company's revenue in the quarter was 1.7956 billion yuan, gross profit of 244 million yuan, corresponding to a gross profit margin of 13.6%; under non-US general accounting standards, the net loss was 52.5 million yuan, a significant narrowing year-on-year and month-on-month. The MAU of the platform's mobile terminal is 55.1 million, and the number of paid users is 6.4 million. Douyu's US stock market closed down more than 8.55%.
NO.9 Allianz Group: The U.S. Securities and Exchange Commission (SEC) issued an announcement accusing Allianz Global Investors U.S. (AGI US), a U.S. investment advisor subsidiary of Allianz Group, and three former senior investment managers of alleged multibillion-dollar securities fraud. AGI US pleaded guilty to the charges and agreed to pay $5.8 billion, including $3.2 billion in compensation, $2.3 billion in fines and $463 million in forfeiture.(China Securities News)
NO.10 Google: According to the Russian Satellite News Agency, the Russian branch of Google Company in the United States has initiated a self-bankruptcy procedure. Russian Satellite News mentioned that according to the requirements of Russian media regulators, Google has to pay more than 7.2 billion rubles (about 740 million yuan) fines so far. The company was supposed to pay the specified amount by March 19, but its failure to comply with the requirements led to another forced recovery of funds in early May. (Global Network)
Investment Interaction
Click to go to query.
htmlOn May 18, northbound funds sold a net sale of 2.277 billion yuan. Wuliangye, SF Holdings and Oriental Fortune received net sales of 208 million yuan, 147 million yuan and 143 million yuan respectively. BYD net purchase amount ranked first, with an amount of 356 million yuan.htmlOn May 18), southbound funds netted HK$806 million today. China Mobile, China National Offshore Oil Corporation and Meituan-W received net purchases of HK$632 million, HK$462 million and HK$442 million respectively. Tencent Holdings ranked first in net sales, with an amount of HK$600 million. Industrial Securities : On the one hand, the strategic is optimistic, the overall automobile industry is in the mid-term bottom area, and it is expected to usher in the upward turning point of fundamentals at the end of the second quarter of 2022. The attractiveness of industry allocation will continue to increase as the industry gradually recovers; on the other hand, tactical prudent, the impact of the monthly macroeconomic data from April to May, public health events may be repeated, and the second quarter report concerns may form a stage suppression of the sector. Overall, we recommend that we comprehensively consider three dimensions to arrange high-quality companies in May-June: short-term Q2 performance is stronger than that in the industry (export chain, benefiting from depreciation), valuation compression is in place (many pullbacks in the early stage), and medium-term growth logic is strong (benefiting from electric intelligent trends, operating turning points, etc.).
Reporter of the Economic and Economics: Wang Lin
Editor of the Economics: Hu Ling Zhang Xiwei
Statement: The content and data of the article are for reference only and do not constitute investment advice. Investors act on this basis at their own risk.
Daily Economic News
