Mini Program: Daily Market News Review of A-shares
Important News
1. The RMB hits a new low since November last year; analysts say the euro's sharp decline, Trump's trade war risks, and threats against dollar alternatives triggered fluctuations in the foreign exchange market.
This morning, the offshore RMB against the US dollar fell below 7.31, hitting a low of 7.3148 yuan, the lowest since last November, with a drop of about 280 points during the day. Meanwhile, the US dollar index continues to surge, and non-US currencies have fallen for two consecutive days. So, what exactly triggered the fluctuations in the foreign exchange market, and what impact will it have? Analysts believe there are three main reasons: First, the euro exchange rate plummeted yesterday, and the euro fell more than 1% against the dollar. French Prime Minister Barnier forcibly passed the French budget plan, and the government faces the risk of collapse. Second, Bank of America strategists indicated that investors underestimated the trade war risks during Trump's presidency, predicting that emerging market currencies could fall by 5% in the first half of next year, and sovereign debt could be sold off. Third, recently, Trump issued threats on his social media platform "TruthSocial," demanding that BRICS countries abandon plans for new currencies or alternatives to the dollar, or face a 100% tariff on any country challenging the dollar's dominance in the global economy. (Brokerage China)
2. Securities company consolidated management guidelines are soliciting opinions to strengthen the risk management capabilities of securities groups.
On December 3, the reporter learned from the industry that to strengthen the risk management capabilities of securities company groups, maintain the stable operation of securities companies, prevent financial risks from spreading across borders and industries, and assist in the high-quality development of the industry, the China Securities Association has drafted the (Securities Company Consolidated Management Guidelines (Trial)) (Solicitation of Opinions Draft) based on relevant laws, regulations, and regulatory requirements, and is soliciting opinions from the industry. It is understood that consolidated management covers securities companies and their various affiliates, as well as various on-balance and off-balance sheet, domestic and foreign, and both foreign currency and local currency businesses, involving multi-level responsibilities such as boards of directors, supervisory boards, management, and departments, covering key areas such as corporate governance, business synergy and internal transaction management, risk management, and capital management. (China Securities Golden Bull)
3. The National Development and Reform Commission: Improve the pricing mechanism for refined oil pipeline transportation.
The National Development and Reform Commission issued a notice on improving the pricing mechanism for refined oil pipeline transportation. Based on the characteristics of refined oil pipeline transportation, the National Petroleum and Natural Gas Pipeline Group Co., Ltd. will implement an elastic regulatory mechanism for inter-provincial refined oil pipeline transportation prices, with the maximum allowable income determined by the National Development and Reform Commission. The National Pipeline Group, without exceeding the maximum allowable income, will negotiate specific prices for inter-provincial pipeline transportation with users.
4. The State Administration for Market Regulation announced the latest list of cases of unconditional approval for operator concentration, including the merger case between Guotai Junan and Haitong Securities.
The State Administration for Market Regulation released the list of cases of unconditional approval for operator concentration from November 18 to November 24, which includes the merger case between Guotai Junan Securities Co., Ltd. and Haitong Securities Co., Ltd., and the equity acquisition case of Sichuan He Di Mining Development Co., Ltd. by China Rare Earth Group Co., Ltd., among others.
5. Shanghai's pilot program for technology companies' "employee stock loans" has a maximum credit limit of 20 million yuan per person.
Recently, the Shanghai financial regulatory authorities have expanded the pilot program for employee stock loans for technology companies from the Lingang New Area, Zhangjiang, and other regions to the entire city of Shanghai. This innovative measure is leading the way nationwide. (Xinhua Finance)
6. Cross-border wealth management connection business is about to launch: 14 securities firms are ready, officially starting operations on December 4.
The pilot cross-border wealth management connection business will officially launch on December 4 (this Wednesday). Eligible investors will be able to start investing. The 14 participating securities firms are currently working hard to ensure that the first transaction is completed on the first day of operation. Since the China Securities Regulatory Commission announced the list of the first batch of participating securities firms on November 1, these firms have completed related work such as investor qualification pre-review, wealth management product construction, marketing team construction, and investor education over the past month to ensure a smooth opening.
4. Four departments: Encourage insurance companies to increase investment in technological innovation, promote the application of technologies such as drones, remote sensing, and the Internet of Things.
The Ministry of Finance, the Ministry of Agriculture and Rural Affairs, and other four departments issued a notice to promote precise insurance and claims for agricultural insurance. The notice mentioned encouraging insurance companies to increase investment in technological innovation and promoting the application of technologies such as drones, remote sensing, and the Internet of Things, accelerating standardization construction, and enhancing the authenticity, accuracy, and timeliness of underwriting and claims. Continuously promoting the online, digital, and intelligent development of agricultural insurance business, and promoting online notification, public disclosure, and inquiry of insurance and claims information to ensure farmers' right to know and improve their experience in insurance and claims.
Individual stock news
1. Data on capital flow shows that Dongfang Group had a net inflow of 442 million yuan, ranking first, while Erli San, Zhongchu Holdings, Huaying Technology, and Agricultural Bank had significant net inflows. Meanwhile, Zhongke Shuguang had a net outflow of 1.904 billion yuan, ranking first, with Chuanfa Longmang, Gongxiao Daji, Lio Co., and Dongfang Caifu having significant net outflows.
2. Northern Huachuang responds to the impact of U.S. semiconductor export control measures on the company: the expected impact is minimal.
The semiconductor export control measures announced by the United States have attracted significant market attention. Regarding the impact of these measures on the company, Northern Huachuang, a leading semiconductor equipment company, stated to reporters that the company has mainly focused on supply chain controllability and development in recent years. "Currently, 90% of the company's revenue comes from the domestic market, with less than 10% from overseas markets. We expect the impact to be minimal," said a relevant person in charge of Northern Huachuang to reporters. In the first three quarters of this year, Northern Huachuang's revenue and net profit attributable to the parent company were 20.35 billion yuan and 4.463 billion yuan, respectively. (Yicai)
3. Cyrus Group Chairman Zhang Xinghai: Mergers and acquisitions and restructuring allow the company to fully carry out cross-border integration with Huawei.
"Mergers and Acquisitions Policy Promotion and Industrial-Financial Connection Conference" opened in Chongqing. Cyrus Group Chairman (Founder) Zhang Xinghai stated in his speech that China's automotive industry needs to stand up and strengthen itself, relying on its own innovation drive and a good policy environment and capital market support. Mergers and acquisitions, as a tool in the capital market, have allowed the company to smoothly achieve business structure adjustment and optimization; while maintaining the continuity of original business cooperation, the company has gained autonomy over its complete vehicle business, laying a solid foundation for internal resource and capability allocation, and focusing on the transformation towards high-end intelligent electric vehicles. Through related mergers and acquisitions, Cyrus has been able to seize opportunities and fully carry out cross-border integration with Huawei, achieving leading growth. (Securities Times)
4. Huahai Qingshi: Currently assessed as having no substantial impact, most core components have achieved independent control.
Huahai Qingshi responded to the new round of entity list released by the United States. The reporter, acting as an investor, called Huahai Qingshi to inquire about the impact of these controls on the company. The company responded that there is currently no substantial impact based on assessments; most of the company's core components have already achieved independent control, and they have established stable supply relationships with suppliers. The company will continue to monitor the impact of this event and maintain communication with suppliers and customers. Huahai Qingshi's main products are Chemical Mechanical Polishing (CMP) equipment, which is a key process in advanced integrated circuit manufacturing and advanced packaging. (Yicai)
5. The United States announced semiconductor export control measures, and Huafeng Measurement and Control responded: there is no impact on business, and the company’s procurement has basically achieved localization.
The semiconductor concept has fluctuated and declined, with Huafeng Measurement and Control falling over 4%. The semiconductor export control measures announced by the United States have attracted significant market attention. Regarding the impact of these measures, the reporter contacted the investor relations department of Huafeng Measurement and Control as an investor, and a relevant person stated that there is no impact on the company's business. At the same time, the person indicated that the company's procurement has now basically achieved localization. "Basically, everything can be localized; previously, we had to use their (U.S.-related products), but now we can choose to use domestic products or not." Regarding today's stock price, the relevant person said it should be related to these measures. (21 Finance)
6. Tuojing Technology: The company is aware of this entity list and expects minimal impact on its operations.
Tuojing Technology responded to the new round of entity list released by the United States. The reporter, acting as an investor, called Tuojing Technology, and a relevant person stated that the company is aware of the entity list and expects minimal impact on its operations. "The company's sales areas are mainly domestic, and for key components and materials, the company has multiple supply sources and has certain stockpiles to ensure supply chain stability." Tuojing Technology's main products include Plasma Enhanced Chemical Vapor Deposition (PECVD) equipment, Atomic Layer Deposition (ALD) equipment, etc., mainly used in high-end technology fields such as integrated circuit wafer manufacturing, TSV packaging, MEMS, Micro-LED, and Micro-OLED displays. (Yicai)
7. Nanda Optoelectronics responds to the new entity list from the U.S.: no substantial impact, a small number of component procurements are restricted.
What kind of impact will being included in the entity list have on the company's operations? The reporter responded that there is no substantial impact; there may be some restrictions on a small number of component procurements, but the company has stockpiles and will pursue domestic alternatives. Currently, the company's raw materials are mainly supplied domestically. It is reported that Nanda Optoelectronics is specialized in the research, production, and sales of high-purity metal organic compounds (MO sources) and has developed several advanced electronic chemicals for the IC industry. (Yicai)
8. Xiangtan Electric: Currently working with excellent companies in solid-state battery technology for joint research and development.
During an institutional research, Xiangtan Electric stated that manganese has characteristics such as abundant resources, high voltage platform, and safety and reliability. At the same time, solid-state electrolytes can significantly improve the manganese dissolution of manganese-based materials in liquid electrolytes, enhancing the cycle and storage performance of manganese-based cathode materials. Therefore, there is a good compatibility between manganese-based materials and solid-state battery parameter requirements, presenting significant opportunities for the application of manganese-based materials in solid-state battery systems. The company is currently working with excellent companies in solid-state battery technology for joint research and development.
Article forwarded from: Jin Ten Data