Abstract: Party Committee of the People's Bank of China and Party Group of the State Administration of Foreign Exchange: Strengthen departmental cooperation and maintain the healthy development of the stock market, bond market and real estate market. China Securities Regulatory Commission: Expand high-level institutional opening-up and broaden financing channels for overseas listing. The State Council issued the "Regulations on Promoting the Development of Individual Industrial and Commercial Households" to support and guide the healthy development of individual economy. Ministry of Finance: From January to September, the national general public budget revenue increased by 4.1% after deducting tax refund factors. Three departments: Include e-cigarettes in the scope of consumption tax collection. Jingyeda: The teaching information market is in a stage of full competition. Daquan Energy: Signing a procurement framework contract, with an estimated amount of approximately RMB 130.896 billion.
overnight foreign market
On Tuesday, Eastern Time, the three major indexes of U.S. stocks collectively closed higher. As of the close, the Dow Jones Industrial Average rose 1.07%, the Nasdaq rose 2.25%, and the S&P 500 rose 1.63%. The large-scale technology stocks all closed higher, Apple rose 1.93%, Amazon rose 0.65%, Meta rose 6.01%, Google rose 1.91%, Microsoft 1.38%, and Netflix rose 3.03%. new energy vehicle concept stock collectively rose, NIO rose more than 12%, Xiaopeng Motors rose more than 10%, and Ideal Auto rose more than 8%.
The three major European indexes are mixed. As of the close, the FTSE 100 index in the UK fell 0.01%, the French CAC40 index rose 1.94%, and the German DAX30 index rose 0.94%.
Hot Topics
1, Party Committee of the People's Bank of China and Party Group of the State Administration of Foreign Exchange: Strengthen departmental cooperation, maintain the healthy development of the stock market, bond market and real estate market
Party Committee of the People's Bank of China and the State Administration of Foreign Exchange Party Group held an enlarged meeting to conscientiously convey and study the spirit of the 20th National Congress of the Party and the First Plenary Session of the 20th Central Committee of the Party, and study and deploy the implementation work. The meeting required that we should adhere to and improve the basic socialist economic system, unswervingly consolidate and develop the public economy of , and unswervingly encourage, support and guide the development of the non-public economy. At present, the potential growth rate of my country's economy remains at a high level, the factors and conditions for building a new development pattern are relatively sufficient, the recovery momentum of effective demand is becoming increasingly obvious, the price level is basically stable, the trade surplus is expected to remain high, and there is a solid foundation for maintaining basic stability of RMB exchange rate . People's Bank of China and the State Administration of Foreign Exchange should continue to maintain a reasonable growth in the total amount of monetary and credit, increase support for key areas such as scientific and technological innovation, rural revitalization, regional coordinated development, and green development, and stabilize the macroeconomic market. Deepen exchange rate marketization reform, enhance RMB exchange rate flexibility, and maintain basic stability of RMB exchange rate at a reasonable equilibrium level. Implement a long-term mechanism for financial services to small and micro enterprises and private enterprises to dare to lend, be willing to lend, and be able to lend, and enhance the vitality of micro entities. Strengthen departmental cooperation and maintain the healthy development of the stock market, bond market and real estate market. Promote high-level two-way opening of the financial market and support the continued prosperity and development of Hong Kong's international financial center. Better meet the rigid and improved housing needs of residents and increase efforts to promote the work of "guaranteeing and stabilizing people's livelihood". Guide and promote financial innovation and strengthen financial services for new citizens. Establish and improve financial risk prevention, early warning and handling mechanisms, firmly maintain the bottom line of avoiding systemic risks, and safeguard the interests of the broad masses of people.
2. China Securities Regulatory Commission: Expand high-level institutional opening-up and broaden financing channels for overseas listing
China Securities Regulatory Commission held a Party Committee (expanded) meeting on October 24 to conscientiously convey, study and implement the spirit of the 20th National Congress of the Communist Party of China and the spirit of the First Plenary Session of the 20th Central Committee. The meeting pointed out that we must deeply understand the important statements of the 20th National Congress of the Communist Party of China on adhering to with economic construction as the center and development is the first priority of the Party in governing and rejuvenating the country, adhere to the direction of reform of the socialist market economy, fully, accurately and comprehensively implement the new development concept of , accelerate the construction of a new development pattern, strive to promote the high-quality development of , and thoroughly implement the " two unshakable ", and further strengthen our confidence in the long-term positive development of China's economy. The capital market must obey and serve the overall situation, adhere to the purpose of financial services to the real economy, comprehensively deepen reforms, improve the multi-level market system, improve the functions of the capital market, and increase the proportion of direct financing. Expand high-level institutional opening-up, broaden financing channels for overseas listing, and strengthen pragmatic cooperation with the Hong Kong market.We must insist on combining the general laws of the capital market with the reality of the Chinese market, with the excellent traditional Chinese culture, and accelerate the construction of a modern capital market with Chinese characteristics.
3. The State Council issued the "Regulations on Promoting the Development of Individual Industrial and Commercial Households", supporting and guiding the healthy development of individual economy
The State Council issued the "Regulations on Promoting the Development of Individual Industrial and Commercial Households", encouraging, supporting and guiding the healthy development of individual economy, safeguarding the legitimate rights and interests of individual industrial and commercial households, stabilizing and expanding urban and rural employment, and giving full play to the important role of individual industrial and commercial households in the national economic and social development. The State Council’s development and reform, finance, human resources and social security, housing and urban-rural development, commerce, finance, taxation, market supervision and management, and other relevant departments shall study and formulate policies and measures in tax and fee support, entrepreneurship support, vocational skills training, social security, financial services, registration, rights protection, etc. within their respective responsibilities, and do a good job in promoting the development of individual industrial and commercial households. The state promotes the establishment and improvement of the credit evaluation system for individual industrial and commercial households, encourages financial institutions to develop and provide financial products and services suitable for the development characteristics of individual industrial and commercial households, expand the scale and coverage of individual industrial and commercial households, and improve the accuracy and convenience of loans.
4. Ministry of Finance: National general public budget revenue increased by 4.1% from January to September after deducting the factor of tax refund
Ministry of Finance: From January to September, the national general public budget revenue was 15315.1 billion yuan, and the increase was 4.1% after deducting the factor of tax refund , which decreased by 6.6% based on natural caliber. Among them, the central general public budget revenue was 6993.4 billion yuan, an increase of 3% after deducting the factor of retained tax refund, and a decrease of 8.6% based on the natural caliber; the local general public budget revenue was 832.17 billion yuan, an increase of 5.2% after deducting the factor of retained tax refund, and a decrease of 4.9% based on the natural caliber. National tax revenue was 12436.5 billion yuan, an increase of 1% after deducting the factor of retained tax refund, and a decrease of 11.6% based on natural caliber; non-tax revenue was 2878.6 billion yuan, an increase of 23.5% over the same period last year.
5. Three departments: include e-cigarettes in the scope of consumption tax
. The Ministry of Finance, General Administration of Customs . The State Administration of Taxation issued an announcement on the collection of consumption tax on e-cigarettes. Electronic cigarettes will be included in the scope of consumption tax collection, and an electronic cigarette sub-item will be added under the tobacco tax. E-cigarettes are subject to a price-adjustment rate calculation method. The tax rate for the production (import) stage is 36%, and the tax rate for the wholesale stage is 11%.
6, China Banking and Insurance Regulatory Commission : The capital market has long-term investment value, and a good foundation for maintaining stable operation will not change
On the morning of October 24, Guo Shuqing, Secretary of the Party Committee and Chairman of the China Banking and Insurance Regulatory Commission, presided over a party committee (expanded) meeting to convey and study the spirit of the 20th National Congress and the First Plenary Session of the 20th Central Committee of the Communist Party of China, and combine it with the actual situation of the China Banking and Insurance Regulatory Commission to study and deploy the implementation work. The meeting emphasized that we must deeply realize that China's economy has strong resilience, sufficient potential, and wide room for maneuver, and the long-term improvement of fundamentals will not change. The overall financial risks are converging and the overall financial system is stable. The long-term trend of RMB strengthening will not change. my country's continued balance of payments surplus and huge foreign investment net assets provide strong guarantees for the stability of the RMB exchange rate. Against the backdrop of innovative development and steady transformation of the real economy, the capital market has long-term investment value and a good foundation for maintaining stable operation will not change. We must persist in preventing and resolving major financial risks, coordinate development and security, orderly promote the reform and risk of small and medium-sized financial institutions, strengthen the financial stability guarantee system, and firmly maintain the bottom line of preventing systemic financial risks.
Theme Opportunities
1, the start is hot, live streaming sales are creating a trillion-dollar new market
According to reports, it was learned from Taobao Live that in the four hours from 20:00 to 24:00 on the day of the "Double 11" pre-sale on October 24, Taobao Live generated 130 live broadcast rooms with pre-sale amounts exceeding 10 million yuan. On the evening of October 24, within 4 hours after the pre-sale of Tmall "Double 11" on , the mid-level anchors and new anchors of Taobao Live achieved explosive growth, and the pre-sale guidance amounts were 365% and 684% respectively. At the same time, the pre-sale guidance amounts of live broadcast institutions also achieved a year-on-year increase of 165%.
Live streaming is one of the most efficient marketing methods at present.Live streaming has developed into a new industry in the e-commerce industry, and it has shown strong explosiveness and is creating a new market of trillions. At present, the business forms based on the new economic development of the celebrity are becoming increasingly rich. In the future, with the development of digital economy , the development of blockchain technology and the concept of meta-universe are expected to be fully entered, bringing new development opportunities to the new economic ecosystem of celebrities. Related companies include Saturday, Mengjie Co., Ltd., etc.
2 and e-cigarettes are included in the scope of consumption tax collection, and exports continue to enjoy the tax refund policy
25, the Ministry of Finance and three other departments issued an announcement to include e-cigarettes in the scope of consumption tax collection, and add an e-cigarette sub-item under the tobacco tax. The tax rate for electronic cigarettes is calculated by adopting the method of price-based pricing. The tax rate for the production (import) stage is 36%, and the tax rate for the wholesale stage is 11%. When taxpayers export e-cigarettes, the export refund (exemption) policy shall be applied. After the news was announced, Hong Kong stocks Smoore International continued to rise, closing up 4.77%; US stock fog core technology rose 12% in pre-market trading.
Industry experts said that as a tobacco product, increasing consumption tax is a reasonable approach. Electronic cigarette companies will survive the fittest and their production capacity will be further concentrated in leading companies. Exporting e-cigarettes enjoy tax refund policies, which means exporting e-cigarettes continue to be encouraged by policies. Galaxy Securities believes that regulatory policies are being steadily promoted and relevant licenses are issued one after another. There is a broad room for e-cigarettes to replace traditional cigarettes. As the industry enters a stage of standardized development, the domestic market is expected to expand steadily, and under the background of increasing industry concentration, leading companies will benefit fully. Related companies include Jinjia Co., Ltd. , Dongfeng Co., Ltd., etc.
3. China and Germany work together to strengthen cooperation in the fields of hydrogen energy and fuel cell vehicles
It is reported that recently, the outline of the R&D cooperation project of China and Germany in the fields of hydrogen and fuel cell vehicles has been opened. The China-Germany Electric Vehicle Innovation and Support Center (SGEC) combines and coordinates China and Germany's cooperation activities and projects in battery and hydrogen fuel cell technology. This project is jointly carried out by the German Federal Ministry of Digital and Transport (BMDV) and the Chinese Ministry of Science and Technology. The purpose of the projects funded within the SGEC framework is to support the market growth of battery-powered vehicles and vehicles equipped with hydrogen fuel cells. The focus of the project is to exchange experiences with each other, and China and Germany can benefit from it. Related companies include Suihengyun A, Weifu Hi-Tech, etc.
Company News
1. Jingyeda: The teaching information market is in a full competition stage
Jingyeda (003005) issued an abnormal announcement on the evening of October 25 saying that there are many types of participants in the teaching information market, the industry concentration rate is low, and the market is in a full competition stage. Existing competitors are still increasing their investment, and at the same time, they have attracted more relevant technology companies to deploy in the education industry, which will intensify industry competition. The company's industry digital solution business generally requires on-site installation and commissioning, and revenue will be confirmed only after the customer has passed the acceptance. The implementation cycle of some projects is long. At the same time, due to the impact of the domestic epidemic, some projects cannot be installed, debugged and accepted, which will also extend the implementation cycle of the project, resulting in the company's revenue that may be unbalanced between years and there is a risk of revenue fluctuations.
2. Baosteel Co., Ltd.: Adjust the related transaction price of rare earth concentrate, which will have a positive impact on performance improvement
Baosteel Co., Ltd. (600010) announced on the evening of October 25 that it plans to adjust the price of rare earth concentrate that supplies northern rare earths to 37,230 yuan/ton excluding tax (dry volume, REO=50%). For every 1% increase or decrease of REO, the price of excluding tax will increase or decrease of 744.6 yuan/ton (dry volume), and will be implemented from July 1, 2022. The total transaction volume of rare earth concentrate in 2022 will not exceed 230,000 tons (dry volume, REO=50%). The company and Northern Rare Earth are both holding subsidiaries of Baosteel Group. The adjustment of the trading price of rare earth concentrate will have a positive impact on the company's overall performance improvement.
3. Northern Rare Earth: It plans to integrate and reorganize the magnetic material enterprises and
Northern Rare Earth (600111) announced on the evening of October 24 that it plans to integrate and reorganize the magnetic material enterprises. The company's magnetic material companies involved in this integration and restructuring include four magnetic material companies, namely Baosteel Magnetic Materials, Ningbo Zhanhao, Beijing Sangeely, and Anhui Permanent Magnetic.All shareholders of Anhui Permanent Magnet, Ningbo Zhanhao and Beijing Sangeli increased their capital on Baosteel Magnet with all equity of the three companies. The capital increase was confirmed with the asset appraisal results of four magnetic material companies, with a total capital increase of 1.205 billion yuan. After this integration and reorganization, the production capacity of high-performance neodymium iron boron alloy of Baosteel Magnetic Materials will reach about 80,000 tons by the end of 2022, and will strive to reach about 150,000 tons by the end of the 14th Five-Year Plan.
4, Zhengbang Technology : The court ruled to initiate the pre-reorganization procedure for the company
Zhengbang Technology (002157) announced on the evening of October 25 that the company received a "Decision" delivered by the Nanchang Intermediate People's Court. The applicant Jinzhou Tianli Grain Trading Co., Ltd. applied to the Nanchang Intermediate People's Court for reorganization and pre-reorganization on the grounds that the company could not repay its due debts and obviously lacked the ability to repay, but had the value of reorganization. The Nanchang Intermediate People's Court decided to initiate pre-reorganization of the company and designated Shanghai Jintiancheng Law Firm and Shanghai Jintiancheng (Nanchang) Law Firm as temporary administrators during the company's pre-reorganization period.
5. Panhai Holdings: The holding subsidiary plans to sell assets of 916 million yuan
Panhai Holdings (000046) announced on the evening of October 25 that the company's holding subsidiary Wuhan Panhai City Plaza Development and Investment Co., Ltd., intends to transfer the land and houses held to Hubei Guoxi Asset Management Co., Ltd. and other assets, with a total transaction price of 916 million yuan (excluding tax). The proceeds from the sale of assets are mainly used to repay the debts of the holding subsidiary. According to preliminary estimates, this transaction will cause the company to lose about 330 million yuan.
6, Anel : The joint venture electron beam grafted modified fabric inhibits poxvirus more than 99%
Anel (002875) announced on the evening of October 25 that the electron beam grafted modified fabric of the joint venture Shenzhen Anel Shuimu Technology Development Co., Ltd. passed the poxvirus test of the State Key Laboratory of Virology of Wuhan University. The test results show that the unique electron beam grafted modified fabric of Anel Shuimu has exceeded 99% inhibition of poxvirus. This result will promote the development of Anel Shuimu and the expansion of the antiviral and antibacterial products market. Electron beam grafted modified fabrics are still in the testing and improvement stage, and their application and market prospects are still to be clarified, and will not have a significant impact on the company's current operating performance.
7, Wencan Co., Ltd.: It plans to raise no more than 3.5 billion yuan, and will be used for the new energy vehicle parts project
Wencan Co., Ltd. (603348) announced on the evening of October 25 that it plans to issue shares privately to raise no more than 3.5 billion yuan, and will be used for the intelligent manufacturing project of new energy vehicle parts in Anhui, Chongqing, and Foshan new energy vehicle parts and supplement working capital.
8. Daquan Energy: Signing a procurement framework contract, the estimated amount is approximately 130.896 billion
Daquan Energy (688303) announced on the evening of October 25 that the company and its wholly-owned subsidiary Inner Mongolia Daquan recently signed a procurement framework contract with a customer, which stipulated that a customer would purchase a total of 432,000 tons of solar-grade silicone free material from the company and Inner Mongolia Daquan from 2023 to 2028. According to the average price of polycrystalline silicon dense material recently announced by PV InfoLink of 303,000 yuan/ton (including tax), the estimated purchase amount is approximately 130.896 billion yuan (including tax, the estimated price does not constitute a price commitment).
9, TCL Zhonghuan: The subsidiary signed a long-term agreement on polycrystalline silicon purchase and sales cooperation framework
TCL Zhonghuan (002129) announced on the evening of October 25 that the company's subsidiary Tianjin Huanrui recently signed a "Silicon Material Procurement Framework Contract" with a supplier. The contract stipulates that from 2023 to 2028, Tianjin Huanrui expects to purchase a total of 432,000 tons of solar-grade native polycrystalline silicon from a supplier and its subsidiaries. The total contract transaction amount shall be based on the final transaction amount.
10, Baichuan Co., Ltd. : The second phase of the Haiji new energy lithium battery project has entered the production stage
Baichuan Co., Ltd. (002455) announced on the evening of October 25 that the company's subsidiary Jiangsu Haiji New Energy Co., Ltd. (hereinafter referred to as "Haiji New Energy") lithium battery phase II production 1Gwh lithium ion battery production line device has completed installation and debugging and entered the production stage. The second phase of the sea-based new energy project has been successfully produced, which can further expand the production scale.
11, Xiangtan Electrochemical : The electrolytic manganese dioxide production line at Heling base will resume production on October 28
Xiangtan Electrochemical (002125) announced on the evening of October 25 that the electrolytic manganese dioxide production line of the wholly-owned subsidiary Jingxi Electrochemical has completed maintenance and resumed production in late August. At present, the electrolytic manganese dioxide production line at the Heling production base in Xiangtan headquarters has also completed maintenance and will resume production on October 28. In addition, the company achieved a net profit attributable to shareholders of 353 million yuan in the first three quarters, a year-on-year increase of 233.74%.
12. Haili Wind Power: It plans to invest in the construction of an annual output of 200 sets of offshore high-end equipment manufacturing export base project
Haili Wind Power (301155) announced on the evening of October 25 that the company plans to invest in the construction of the "annual output of 200 sets of offshore high-end equipment manufacturing export base project" within the jurisdiction of Yangpu Economic Development Zone, with a total investment of 1 billion yuan. The first phase of the project will invest 300 million yuan, mainly building a large megawatt offshore wind power tower manufacturing project; the second phase of the project will invest 700 million yuan, mainly building a large megawatt single pile, conduit frame, large-scale modular booster station on the sea, deep-sea floating foundation, and intelligent aquaculture equipment manufacturing projects.
