First, let me add some details about the concert experience last night. My wife and I bought tickets for the 2280 tier, actively giving up on the inner venue and choosing the stands. A fun fact: concert tickets can only select price tiers, the specific position is 'random.'
Because the best positions, A1 and A2 areas, are definitely not randomly assigned, while the back B1 and B2 areas of the inner venue are worse than the stands, at least there are no obstructions to vision, very clear.
As for the concert itself, I have already mentioned quite a bit during the interaction last night, so I'll just add a brief note:
1. Lao Zhang's overall condition was great, and during the break, he even performed a split for the audience.
2. Lao Zhang's memorization ability is S+, he sang silently throughout the entire concert without missing a word. Here I really want to @ a certain well-known middle-aged singer who looks nearly 20 years younger, who sings nonsense without a teleprompter.
3. Lao Zhang's concert series with the theme of 60+ selected a lot of relatively obscure songs for the playlist. I will paste it here, you can see how many songs in the first half can be sung along with. There were a few songs I had never heard before, and Lao Zhang explained that they were songs he had written in recent years and wanted to sing for everyone. Since the old man explained it like this, we the audience should just listen, the atmosphere was initially very cold until the first line of (Breaking Up Always Happens in the Rain) was sung, and the arena exploded.
Anyway, I feel quite regretful that my favorite (I love you more each day) wasn't heard, because the chatting and interaction took too long, which also cut off Li Xianglan / Heart Like a Knife. However, the pleasant surprise was that during the interactive singing, Lao Zhang randomly selected (You Are the Most Precious), and my wife next to me was very satisfied.
Actually, it’s worth mentioning that on the way back home after the concert, the driver was local. As soon as he heard we just finished watching the concert, he got excited and said he had watched Friday's show the night before. His family in the government got him tickets, and he was in the third row of the inner venue, where he could see Lao Zhang's expressions clearly.
At first, I didn't take it seriously, thinking that since the driver was earning money so hard, he generally wouldn't be willing to spend such high prices for concert tickets. I thought the driver was just boasting, so I just went along with it. But then, when we reached a red light, he suddenly pulled out his phone to show me close-up footage of Lao Zhang, right in the front row of the inner venue.
My wife and I were dumbfounded at the time, looking at each other in disbelief, not brother, are you serious?
He said the first two rows were all relatives of officials, and the following rows were internal tickets for staff, all of whom were also relatives, many of whom he recognized. Because I saw the video, now I believe everything he says.
When we were about to reach the hotel, he said his home is just nearby. I asked if the houses here are expensive, and he somewhat dejectedly said it's not expensive anymore. When he bought it 6 years ago, it was 18,000, and now it’s only 12,000.
I no longer spoke and silently got off the car with my wife. On the way, I told my wife that we can see the operating rules of our society from the ticket prices of a concert: power comes first, personal relationships second, and only then do we rank by price. I definitely won't buy random tickets for the inner venue in the future.
……
Over the weekend, there were quite a few happenings in the capital market, and there are a few worth mentioning:
1. Over the weekend, there was an industry bombshell. The U.S. plans to impose tariffs of up to 271% on solar panel imports from four Southeast Asian countries. These four countries are Cambodia, Malaysia, Thailand, and Vietnam. The U.S. imports 80% of its photovoltaic products from Southeast Asia, and these products primarily come from Chinese companies that have set up factories in Southeast Asia to avoid tariffs, so the real targets are still Chinese companies.
I looked at the preliminary list, which includes Jingao, Jinko, Longi, and Trina. None of the guys can escape. The U.S. is targeting China's photovoltaic industry. I saw that some local photovoltaic companies in Southeast Asia were exempt from tariffs. Originally, the photovoltaic industry was gradually getting out of the trough, and now suddenly this happens, the supply-demand balance may be broken again.
So it's useless to evade taxes by going to Mexico or Southeast Asia to set up factories. Once your factory is built, they can adjust the tariff policies to continue to block you, unless you move the factory to the United States, which is the U.S. government's cunning plan.
2. The regulatory body continues to expand the index ETF, expanding the ChiNext 50 times to 10, and adding 4 new to the CSI A500. Additionally, 6 ETFs were approved recently, which seems to be a high-frequency issuance. My interpretation is that the regulators are trying to influence the market in this way. Because every new fund will bring in tens of billions in capital inflow to the index weights, which can offset some of the siphoning effects of small stocks. However, I learned in a chat with some institutional partners that some institutions, in order to complete the ETF scale expansion task, would pre-sell the original weighted stocks, which is equivalent to hedging. I also find this explanation quite reasonable, otherwise, it would be strange that the scale of the CSI A500 is almost 200 billion, yet the large-cap index is still so weak.
3. Recently, a batch of indices adjusted their constituent stocks, among which the most noteworthy is that the Shanghai Stock Exchange 50 Index has included Siasun and Cambricon. As a weighted stock on the Sci-Tech Innovation Board, nearly half of its large shareholders are index funds, so it's not an exaggeration to say that this stock has been passively increased by ETF buying. Now that it has been added to the Shanghai Stock Exchange 50, there will be an additional wave of funds coming in for passive increases. But at the same time, there is also a significant market justice, believing that a company that is still losing money but has a huge increase, being included in the Shanghai Stock Exchange 50 may easily face the risk of high-level takeover.
The Shanghai Stock Exchange 50 has a dark history of having once included Xinwei Communications, a company that engaged in fraud using overseas performance and ultimately faced more than 30 consecutive trading halts and delisting. Indices can change constituent stocks during trading halts, but ETF funds cannot run away.
4. Zelensky recently proposed a ceasefire plan, stating that he could consider giving up some of the territories controlled by Russia, but he must join NATO as soon as possible. This is a significant compromise. Previously, he absolutely would not consider giving up occupied territories, but now he is willing to make sacrifices in exchange for Ukraine joining NATO. However, Russia's previous ceasefire conditions were to recognize the territories controlled by Russia and to promise not to join NATO. I don't know if Putin would be willing to make a concession as well.
From a purely profit perspective, I think a ceasefire between Russia and Ukraine is not favorable for China's international environment, nor is it favorable for bulk commodities.
5. Meituan's revenue for the third quarter was 93.6 billion, an increase of 22.4%, with operating profit of 14.6 billion, a year-on-year increase of 44%. Both revenue and profit exceeded expectations. There are very few Chinese internet companies that can still maintain a 20% growth (mainly in revenue) in recent years.
Oh, there's a little gossip. Wu Liufang's Douyin has been re-enabled for following. I just checked, and the speed of gaining followers is visibly fast, currently at 2.67 million, almost gaining 10,000 every few minutes. She said she wanted to change her fate, and she did it.