Mini Program: A-share pre-market news express.
Important News
1. Xi Jinping: Focus on promoting the high-quality joint construction of the 'Belt and Road' mechanism.
Xi Jinping emphasized the need to focus on promoting the high-quality joint construction of the 'Belt and Road' mechanism, improving the planning and coordination management mechanism for the joint construction of the 'Belt and Road', enhancing the coordination and promotion mechanism for 'hard connectivity', 'soft connectivity', and 'heart connectivity', improving practical cooperation mechanisms for industrial and supply chains, enhancing international exchange and cooperation mechanisms in emerging fields, improving diversified investment and financing guarantee mechanisms, enhancing internal and external risk prevention and control mechanisms, improving overseas interest protection mechanisms, enhancing high-level international communication mechanisms, and improving the clean Silk Road cooperation mechanism, to promote the high-quality joint construction of the 'Belt and Road' steadily and far-reaching. (Xinhua News Agency)
2. The central bank: Starting from the statistical data for January 2025, the new revised narrow money (M1) statistical caliber will be adopted.
The People's Bank of China: It has been decided that starting from the statistical data for January 2025, a new revised narrow money (M1) statistical caliber will be adopted. The revised M1 includes: currency in circulation (M0), unit current deposits, personal current deposits, and reserve funds of non-bank payment institutions. A responsible person from the central bank stated that this revision of the M1 statistical caliber further incorporates personal current deposits and reserve funds of non-bank payment institutions based on the current M1. With the rapid development of payment methods, personal current deposits now have transfer payment functions and can be used for payments without cash withdrawal, having the same liquidity as unit current deposits, and should be included in M1.
3. Four rural commercial banks in Jiangsu were found to have violated regulations in bond trading: excessive incentives led to market manipulation and profit transfer.
Recently, the Traders Association has verified that Jiangsu Changshu Rural Commercial Bank Co., Ltd., Jiangsu Jiangnan Rural Commercial Bank Co., Ltd., Jiangsu Kunshan Rural Commercial Bank Co., Ltd., and Jiangsu Suzhou Rural Commercial Bank Co., Ltd. had inadequate internal control management over bond trading, with excessive incentives for traders, leading to distorted trading behaviors. Some traders influenced bond prices through concentrated capital advantages, continuous buying and selling, self-buying and self-selling, and frequent quoting and withdrawing quotes. Some of these trades involved profit transfer. The Traders Association will impose self-disciplinary penalties according to relevant laws and regulations as well as self-regulatory rules and refer the matter to relevant departments. (Traders Association website)
4. The State-owned Assets Supervision and Administration Commission of the State Council and the National Development and Reform Commission jointly issued policies to promote the high-quality development of venture capital funds in central enterprises.
Recently, the State-owned Assets Supervision and Administration Commission of the State Council and the National Development and Reform Commission jointly issued policy measures to promote the high-quality development of venture capital funds in central enterprises, supporting central enterprises to initiate the establishment of venture capital funds, with a focus on early-stage, small, long-term investments, and hard technology. Efforts are being made to increase investment in innovative capital and raise more funds for hard technology. Support central enterprises to focus on their main responsibilities, major strategies, key fields, and important technologies, initiating the establishment of proof-of-concept funds, seed funds, angel funds, and other venture capital funds that adapt to the needs of technology transfer and the growth of technology innovation enterprises; support qualified enterprises such as state-owned capital operation companies to initiate the establishment of venture capital mother funds, leveraging the investment amplification function of mother-son funds; actively attract commercial insurance funds and social security funds to participate through market-oriented methods, guiding various types of long-term capital to focus on technological attributes, technological value, and emerging fields for effective investments, thereby creating a cluster of venture capital.
5. The Ministry of Commerce responds to questions regarding the U.S. semiconductor export control measures: China firmly opposes it. Necessary measures will be taken to resolutely safeguard its legitimate rights and interests.
On December 2, the spokesperson of the Ministry of Foreign Affairs, Lin Jian, hosted a regular press conference. A Reuters reporter asked, according to reports, the U.S. side is preparing to introduce a new round of semiconductor export restrictions against China. What is China's response? Lin Jian stated, we have repeatedly expressed our position on this issue. China has always firmly opposed the U.S. side's broad interpretation of the concept of national security, the abuse of export control measures, and the malicious blockade and suppression of China. Such actions seriously violate the principles of market economy and fair competition, undermine international economic and trade order, disrupt the stability of global production and supply chains, and ultimately harm the interests of all countries. 'China will take resolute measures to firmly safeguard the legitimate rights and interests of Chinese enterprises,' said Lin Jian. (Beijing Daily)
6. Central Bank Governor Pan Gongsheng: Next year, we will continue to adhere to a supportive monetary policy stance and orientation, comprehensively use various monetary policy tools, and strengthen counter-cyclical regulation.
The 2024 China Financial Society Academic Annual Meeting and China Financial Forum Annual Meeting opened in Beijing. Central Bank Governor Pan Gongsheng stated that next year, the People's Bank of China will continue to adhere to a supportive monetary policy stance and orientation, comprehensively use various monetary policy tools, strengthen counter-cyclical regulation, keep liquidity reasonably ample, and reduce the comprehensive financing costs for enterprises and residents. Effectively utilize structural monetary policy tools, focusing on strengthening support for technological innovation, green finance, and consumer finance, while promoting the stable development of the real estate market and capital market. Proactively promote reforms to the monetary policy framework, strengthen the execution and transmission of interest rate policy, and enrich the toolbox of monetary policy. At the same time, optimize the statistics of money supply, including personal current deposits and reserve funds of non-bank payment institutions, which are two highly liquid financial instruments, into M1 statistics, and strengthen monitoring of M2 and other levels of money supply and social liquidity.
Individual Stock News
1. The U.S. announced the preliminary anti-dumping tax rates for photovoltaic cells from four Southeast Asian countries. Jinko Solar: After the high tax, it will try to raise prices.
Media reports that relevant Chinese photovoltaic enterprises with production capacity in the area, according to the latest preliminary ruling, Jinko Solar has been determined to be subject to a 21.31% anti-dumping tax rate for products produced in Malaysia, and a 56.51% tax rate for products produced in Vietnam; Trina Solar has been imposed a 77.85% anti-dumping tax rate for products produced in Thailand and a 54.46% tax for products produced in Vietnam. JA Solar has been imposed a 53.30% anti-dumping tax rate for products produced in Vietnam. Regarding the impact, JA Solar's related personnel told reporters that this is currently a preliminary ruling, and the final ruling has not yet been made. It was introduced that the company's production capacity in the four Southeast Asian countries is concentrated in Vietnam, and the company has also built a factory in the U.S., where the first product has already come off the production line. If the subsequent anti-dumping tax rates imposed by the U.S. on photovoltaic cells from the four Southeast Asian countries are too high, (JA Solar) is considering shipping from the U.S. component factory to avoid this (tax). At the same time, (JA Solar) is also exploring investment opportunities in countries outside of the U.S. and the four Southeast Asian countries. In addition, the above-mentioned personnel also stated that if the tax is high, they will either raise prices or find another place to ship from, and said: 'We will try to raise prices, but ultimately it depends on whether the market will accept it.' If the capacity in Vietnam does not enter the U.S., what will happen to this part of the capacity? The above-mentioned personnel stated that there is currently no conclusion.
2. BGI Jiu Tian: The impact of being placed on the U.S. entity list is generally controllable, and various businesses are progressing steadily.
BGI Jiu Tian announced that it has noticed that the U.S. Department of Commerce announced on December 2, 2024, that 140 entities were placed on the 'entity list' for export control. The company and related subsidiaries were included on this list. According to U.S. export control regulations, companies on the 'entity list' must apply for an export license from the U.S. Department of Commerce before purchasing items subject to control. In response to the potential risks of being on the 'entity list', the company is actively addressing the situation. The overall impact of being placed on the U.S. entity list is controllable. Currently, the company's operations and financial situation are normal, and various businesses are steadily advancing. The company will seize development opportunities to accelerate the localization process of the entire EDA tool.
3. Precision Technology: Signed a major sales contract worth 500 million USD.
Precision Technology announced that the company has signed a sales contract with Saudi GIM Company, with a total contract amount of 172 million USD, including 164 million USD for equipment and a 7.5 million USD deposit. According to the contract, the company will provide 6 production lines to Saudi GIM Company in installments, and the buyer guarantees to purchase 3 production lines from the seller every year, with a total number of production lines not less than 18, and a total procurement amount of approximately 500 million USD. Specifications and prices of the new production lines will be agreed upon separately.
4. Luoniushan: Acquired 46.3578% equity of Tongren Pharmaceutical for 96.7 million yuan.
Luoniushan announced that it has signed a share purchase agreement with its controlling shareholder, Luoniushan Group, to acquire 46.3578% equity of Shanghai Tongren Pharmaceutical Co., Ltd. (referred to as 'Tongren Pharmaceutical') for 96.7 million yuan of its own funds. This transaction constitutes a related party transaction. Upon completion of the transaction, Luoniushan's equity stake in Tongren Pharmaceutical will change from 16.80% to 63.1578%, and Tongren Pharmaceutical will be included in the company's consolidated financial statements.
5. Resa Intelligent: Plans to invest no less than 500 million yuan to build a humanoid robot core component R&D and manufacturing base project.
Resa Intelligent announced that the company has signed a project investment agreement with the Dongguan Binhaiwan New District Management Committee, intending to invest no less than 500 million yuan to build the Resa Intelligent South China Regional Headquarters and humanoid robot core component R&D manufacturing base project.
6. Guangyang Co.: Plans to invest 1 billion yuan to build a project for the annual production of 60 million sets of precision components for high-end new energy vehicles and robots.
Guangyang Co. announced that it plans to sign a project investment agreement with the Huangshan High-tech Industrial Development Zone Management Committee to acquire the land use rights for 100 acres in Huangshan High-tech Zone, Anhui Province, for the construction of a project for the annual production of 60 million sets of precision components for high-end new energy vehicles and robots, with the company's wholly-owned subsidiary, Huangshan Guangyang Transmission Technology Co., Ltd., as the investment construction entity. The total project investment is expected to be 1 billion yuan (including taxes, the final investment total is subject to actual investment), with funding sourced from self-owned funds and self-raised funds.
7. Wanshili with a 20CM four consecutive boards: The company is actively promoting the issuance of stocks to specific targets.
Wanshili issued an announcement on the severe abnormal fluctuations in stock trading. The company conducted a self-examination and found no violations of information fair disclosure. The company's stock price has risen significantly in the short term, with a noticeable increase in stock turnover rate and trading volume, which may pose a risk of a sharp price drop after a significant rise. The company's project of issuing stocks to specific targets was approved by the Shenzhen Stock Exchange's listing review center on October 25, 2024. As of the date of this announcement, the company's stock issuance to specific targets is actively underway, and the company will timely fulfill its information disclosure obligations in accordance with relevant laws and regulations.
8. Huasheng Tiancheng with 8 consecutive boards: The company's stock price may face the risk of a significant drop after a large short-term increase.
Huasheng Tiancheng issued an announcement regarding unusual activities. As of now, the company's production and operational order is normal, and there have been no significant changes in its daily business activities. The company mainly engages in IT system solutions, digital infrastructure, and digital applications. Production costs and sales have not shown significant fluctuations, and the market environment and industry policies have not undergone major adjustments. The company has noted that some media have a high focus on its collaboration with Huawei and its AI application products, and now explains as follows: the main cooperation mode with Huawei is to procure Huawei hardware and software products based on project construction and operation needs; as of September 30, 2024, the amount supplied to Huawei is less than 10 million yuan; the company's AI application-related products mainly include 'intelligent customer service' and 'intelligent data assistant', and the revenue from the aforementioned business accounts for a small proportion of total revenue, which does not have a significant impact on the company's performance. Given the recent volatility in the company's stock price, there may be a risk of a significant price drop after a large short-term increase.
Article forwarded from: Jin Shi Data