Mini Program: A-share pre-market news flash.
Important news.
1. Expert: Canceling shared area is an important task for next year.
On December 17, Zhangjiakou City in Hebei Province issued a policy encouraging the implementation of 'selling existing houses' and gradually promoting the 'cancellation of shared area'; previously, Hengyang City in Hunan Province clarified that the pricing of commercial housing sales is based on the usable area, and currently, many places have started to 'cancel shared area.' Yan Yujin, Vice President of Shanghai Yiju Real Estate Research Institute, stated that criticism of shared area in recent years is due to the low usable area rate, which has affected homeowners' rights. The consecutive issuance of policies indicates that canceling shared area is an important task for 2025, with the usable rate of a 100-square-meter house potentially reaching 100%, which helps improve housing quality, buyer confidence, and purchasing enthusiasm. (China News Network)
2. Central Rural Work Conference: Gradually promote the pilot extension of land contracts for another thirty years after the expiration of the second round of land contracts.
The Central Rural Work Conference was held from the 17th to the 18th in Beijing, emphasizing the need to fully implement further deepening rural reform tasks, orderly promote the pilot extension of land contracts for another thirty years after the expiration of the second round of land contracts, explore effective methods to revitalize and utilize idle farmland through leasing, shareholding, and cooperation, innovate financing mechanisms for rural revitalization, and stimulate the motivation and vitality of rural revitalization.
3. Shenzhen: Each year, up to 500 million yuan in 'training vouchers' will be distributed to reduce the costs of developing and training AI models.
The Shenzhen Municipal Bureau of Industry and Information Technology issued several measures to build Shenzhen into a pioneer city for artificial intelligence, mentioning the issuance of 'training vouchers.' Each year, up to 500 million yuan in 'training vouchers' will be distributed to reduce the costs of developing and training AI models. For enterprises, higher education institutions, and research institutions renting intelligent computing power for large model training, a subsidy of up to 10 million yuan will be granted, covering no more than 50% of the service contract amount, with the subsidy ratio for start-ups increased to 60%.
4. The Central Bank and the State Administration of Foreign Exchange: Optimize pilot policies for multinational corporations' integrated onshore and offshore funding pools in ten provinces and cities including Shanghai, Beijing, Jiangsu, etc.
The People's Bank of China and the State Administration of Foreign Exchange decided to optimize the pilot policies for multinational corporations' integrated onshore and offshore funding pools in ten provinces and cities including Shanghai, Beijing, Jiangsu, Zhejiang, Guangdong, Hainan, Shaanxi, Ningbo, Qingdao, and Shenzhen. The main content includes: first, allowing domestic member enterprises of multinational corporations to borrow in different currencies for current account cross-border payment business, reducing corporate financing costs; second, simplifying the filing process and reviewing foreign-related payment documents, improving the convenience of cross-border receipts and payments for enterprises; third, allowing multinational corporations to decide the proportion of foreign debt and overseas loans based on macro-prudential principles, facilitating the management of cross-border capital operations; fourth, supporting multinational corporations to centralize payments and receipts between their domestic main account and foreign member enterprises, further improving the efficiency of fund utilization. Going forward, the People's Bank of China and the State Administration of Foreign Exchange will continuously optimize policies for managing cross-border funds of multinational corporations and enhance support for the facilitation of cross-border investment and financing, better serving the high-quality development of the real economy.
5. Sunac initiates arbitration against Wanda Group, demanding payment of 9.5 billion yuan for strategic investment repurchase.
Sunac Group has initiated arbitration against Dalian Wanda Group Co., Ltd. at the China International Economic and Trade Arbitration Commission, concerning the strategic investment agreement signed earlier between Sunac and Dalian Wanda Commercial Management Group Co., Ltd. Sunac demands Wanda Group and Wanda Commercial Management to pay the corresponding share repurchase amount. According to informed sources, this arbitration application has been accepted. On January 29, 2018, Dalian Wanda Group officially announced that Tencent Holdings, as the main initiator, along with Suning, Sunac, and JD.com, invested 34 billion yuan to acquire shares in Wanda Commercial (now renamed Wanda Commercial Management Group), purchasing approximately 14% of the shares held by investors introduced during the delisting of Wanda Commercial's Hong Kong H shares. In this investment, Tencent will invest 10 billion yuan for a shareholding ratio of 4.12%, while Suning and Sunac will invest 9.5 billion yuan each for a shareholding ratio of 3.91%, and JD.com will invest 5 billion yuan for a shareholding ratio of 2.06%, totaling approximately 14% of Wanda Commercial's shares.
6. The Biosafety Bill was not included in the CR Bill.
On December 18, the U.S. Congress released the 2025 Continuing Appropriations and Extensions Bill (CR Bill, also known as the Continuing Resolution) for review, which did not include the (Biosafety Bill), nor did it mention entities such as WuXi AppTec and BGI Intelligent Manufacturing previously mentioned in the (Biosafety Bill).
7. The Federal Reserve cuts interest rates by another 25 basis points; the dot plot shows that next year's rate cut forecast has been revised from 4 adjustments to 2.
The Federal Reserve FOMC statement: The timeline for achieving the 2% inflation target has been postponed to 2027, with overall increases in projections for 2024-2026. Most officials expect an upward risk bias. When considering interest rate adjustments, it can be more cautious, and changes in the wording of the statement indicate that it is at or close to the stage of slowing rate cuts, with an increase next year seeming unlikely. If inflation cannot consistently move towards 2%, rate cuts can be slower. Slower rate cuts may hurt the economy and employment. Traders continue to reduce pricing for Fed rate cuts, expecting only a 37 basis point cut in 2025, far below the 75 basis points expected before the meeting.
8. Foreign Ministry responds to U.S. investment restriction legislation: China-U.S. economic and trade cooperation is mutually beneficial, opposing the generalization of national security concepts.
On December 18, Foreign Ministry spokesperson Lin Jian hosted a regular press conference. A reporter asked about the upcoming vote in the U.S. on legislation to restrict American investments in China, which includes projects that are allegedly a 'threat to national security.' Lin Jian stated that China-U.S. economic and trade cooperation is mutually beneficial and serves the interests of both peoples. The practice of generalizing the concept of national security and politically obstructing normal economic and trade exchanges goes against the U.S.'s long-cherished principles of market economy, fair competition, and free trade, disrupts the stability of global production and supply chains, and does not serve the interests of any party. 'China urges relevant U.S. politicians to stop politicizing and weaponizing economic and trade issues, and to create necessary conditions for bilateral economic and trade cooperation,' Lin Jian said.
Individual stock news:
1. Yonghui Supermarket: Sells 9.87% of shares in Zhongbai Group.
Yonghui Supermarket announced that its wholly-owned subsidiary Chongqing Yonghui sold a total of 67,101,287 shares of Zhongbai Group through centralized bidding from December 3 to December 17, 2024, accounting for 9.87% of its equity, with a sale amount of approximately 440 million yuan. Before the sale, the book value of the shares held by the company in Zhongbai Group was 279 million yuan, with an initial investment cost of 486 million yuan (purchase average price - dividends). This sale is expected to increase the investment income for 2024 by about 161 million yuan (taxes not deducted), with the cumulative recognized investment income for the above shares being approximately -46 million yuan. As of the date of this announcement, the company and its subsidiaries no longer hold A-share stocks of Zhongbai Group.
2. Haotong Technology: Signed a major contract, estimating the amount exceeds 100% of the company's audited total assets for 2023.
Haotong Technology announced that the company signed a comprehensive utilization framework contract for precious metal waste catalysts with Dongfang Shenghong's subsidiary Shenghong Petrochemical, estimating that the total contract amount exceeds 100% of the company's audited total assets for 2023. The contract period is from the date of signing until December 31, 2028, with both parties agreeing to pay the contract amount in installments. Haotong Technology stated that this contract will further promote the expansion of the company's business and consolidate its competitive advantage in the precious metal recovery field.
3. Zhongjing Technology: Due to funding needs, Longi Green Energy plans to reduce its holdings of the company's shares by no more than 3%.
Zhongjing Technology announced that it recently received a notice from its shareholder Longi Green Energy, holding more than 5% of shares, regarding the share reduction plan. Longi Green Energy plans to reduce its holdings of the company's shares by no more than 3,900,000 shares, accounting for 3% of the total share capital, within three months after the disclosure of this reduction plan, through centralized bidding trading or block trading. The reason for the reduction is the shareholder's own funding needs, and the shares to be reduced are from shares held before the initial public offering. This reduction plan has uncertainties regarding the timing, quantity, and price of the reduction.
4. Weitai: The proposed acquisition of control over Zijiang New Materials is expected to constitute a major asset restructuring.
Weitai announced that the company plans to sell all assets related to its instrumentation business, with the counterparty being Zizhuke Investment, and the transaction will be in cash. At the same time, the company plans to purchase a portion of the shares of Zijiang New Materials held by some shareholders of Zijiang New Materials in cash, aiming to acquire control of Zijiang New Materials, with the counterparty tentatively determined to include, but not limited to, shareholders of Zijiang New Materials. The expected proportion of shares to be purchased is about 40%. Both the asset sale and asset purchase constitute related transactions and are expected to constitute a major asset restructuring. The transaction does not involve the issuance of shares by the company and will not lead to a change in the company's controlling shareholder and actual controller. This transaction is still in the planning stage and there are significant uncertainties.
5. Innovative Medical: In three days, the stock price increased by 2 limit-ups; Boling Brain-Machine products have not yet officially launched but a small number of products are sold due to collaboration with research institutions.
Innovative Medical released an unusual movement announcement, stating that at the beginning of 2021, the company participated in the investment establishment of Boling Brain-Machine (Hangzhou) Technology Co., Ltd., holding 40% of the shares. Boling Brain-Machine mainly engages in the R&D of core technologies for brain-machine interfaces and the design and production of related products, with the current technological products mainly applied in the medical rehabilitation field. As of the date of this announcement, Boling Brain-Machine's products have not yet officially launched, but a small number of products are sold due to collaboration with research institutions. In 2022 and 2023, Boling Brain-Machine incurred operating losses of 4.74 million yuan and 6.6017 million yuan, respectively.
The article is forwarded from: Jinshi Data.