Mini Program: A-share pre-market market news briefing.
Important News
1. In November, China's manufacturing Purchasing Managers' Index was 50.3%, indicating a stable expansion.
The China Logistics and Purchasing Federation and the National Bureau of Statistics Service Industry Survey Center released the Purchasing Managers' Index for China in November today (30th). With a series of existing and incremental policies continuing to collaborate effectively, the manufacturing Purchasing Managers' Index continues to rise within the expansion range above 50%, maintaining stable expansion. In November, China's manufacturing Purchasing Managers' Index was 50.3%, an increase of 0.2 percentage points from last month. Recently, the manufacturing Purchasing Managers' Index has risen for three consecutive months month-on-month and has been operating in the expansion range for two consecutive months.
2. Central Bank: In November, the net purchase of government bonds was 200 billion yuan, and 800 billion yuan of reverse repurchase operations were conducted.
The Central Bank announced that in order to maintain reasonable and ample liquidity in the banking system, in November 2024, the People's Bank of China conducted 800 billion yuan of reverse repurchase operations through fixed quantity, interest rate bidding, and multiple price bidding methods. To strengthen the counter-cyclical adjustment of monetary policy and maintain reasonable liquidity in the banking system, the People's Bank of China conducted open market transactions of government bonds, with a net purchase of 200 billion yuan in bonds for the entire month.
3. The U.S. plans to impose tariffs as high as 271.2% on imported solar panels from four Southeast Asian countries.
On November 29, the U.S. Department of Commerce preliminarily ruled to propose tariffs ranging from 21.31% to 271.2% on solar panels imported from Cambodia, Malaysia, Thailand, and Vietnam. Most solar panels installed in the U.S. are manufactured overseas, with about 80% of imports coming from the four targeted countries investigated by the Department of Commerce. The final ruling by the U.S. Department of Commerce is expected on April 18, 2025, and the U.S. International Trade Administration will make a final ruling on June 2, with the final order expected on June 9.
4. Pilot program for expanding the opening of wholly foreign-owned hospitals: Allows the establishment of wholly foreign-owned hospitals in Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen, and the entire Hainan island.
The National Health Commission, the Ministry of Commerce, the National Administration of Traditional Chinese Medicine, and the National Disease Control Bureau issued the (Pilot Work Plan for Expanding the Opening of Wholly Foreign-Owned Hospitals) today. The (plan) clarifies that wholly foreign-owned hospitals (excluding traditional Chinese medicine and acquisitions of public hospitals) are allowed to be established in Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen, and the whole island of Hainan. (CCTV News)
5. Shanghai will revise the auction regulations for 'Shanghai License Plates', allowing participation in bidding with one year of social security or individual income tax payments.
On November 29, the Shanghai Municipal Transportation Commission's official website released the (Regulations for the Auction Management of Non-Operational Passenger Car Quotas in Shanghai) (Revised Draft) and solicited public opinions on the draft. The consultation period is from November 29, 2024, to December 6, 2024. It mentions that currently, non-operational passenger car quotas can be applied to fuel vehicles, extended-range electric vehicles, and hybrid vehicles. Considering that in recent years, citizens have frequently reported that the eligibility requirements for participating in the auction set by the existing (auction regulations) are relatively strict, hindering their willingness to participate, this revision targets the eligibility conditions for non-residents to participate in the auction by adjusting the requirement for 'continuous payment of social insurance or individual income tax' from three years to one year. Through relevant adjustments, the qualification conditions for participation will be further optimized to meet the reasonable participation needs of more individuals.
6. Ministry of Finance, General Administration of Customs: Continue to exempt customs duties on goods with a tariff amount of less than 50 yuan.
The Ministry of Finance and the General Administration of Customs announced that according to Article 32 of the (Customs Law of the People's Republic of China), with the consent of the State Council, customs duties will continue to be exempted on goods with a tariff amount of less than 50 yuan. This announcement will take effect from December 1, 2024.
7. Zhongzheng Research Institute: The real estate market has shown signs of 'stabilization', with second-hand housing prices in Shenzhen and other cities turning from decline to increase in November.
On December 1, a third-party research institution, Zhongzheng Research Institute, released the (Hundred Cities Price Index Report). The report shows that the real estate market has shown signs of 'stabilization'. In November, the second-hand housing prices in 100 cities broke the trend of continuous declines over the past seven months, with cities like Shenzhen and Chengdu seeing a month-on-month increase in second-hand housing prices; the new housing market saw a month-on-month increase in prices due to the entry of quality improvement projects in some cities.
8. Ministry of Foreign Affairs: China strongly condemns the US arrangement for Lai Ching-te's 'transit' and has formally lodged a stern representation with the US.
The spokesperson of the Ministry of Foreign Affairs answered questions from reporters regarding Lai Ching-te's 'transit' through the U.S. China firmly opposes any form of official exchanges between the U.S. and Taiwan, firmly opposes the Taiwan authorities' leaders entering the U.S. under any name or reason, and firmly opposes the U.S. condoning and supporting 'Taiwan independence' separatists and their separatist acts in any form. China strongly condemns the U.S. arrangement for Lai Ching-te's 'transit' and has lodged a stern representation with the U.S. (Ministry of Foreign Affairs)
9. The Ministry of Foreign Affairs responds to U.S. approval of arms sales to Taiwan: Urges the U.S. to immediately stop arming Taiwan and will take strong measures to firmly counter.
The spokesperson of the Ministry of Foreign Affairs answered questions from reporters regarding the U.S. approval to sell 385 million USD worth of weapons to Taiwan. Question: On November 30, the U.S. Department of Defense announced that the U.S. State Department had approved arms sales to Taiwan totaling 385 million USD. What is China's comment on this? Answer: The U.S. selling weapons to Taiwan severely violates the one-China principle and the three Sino-U.S. joint communiques, especially the 'August 17' communique, severely infringes on China's sovereignty and security interests, seriously violates international law, sends a serious wrong signal to 'Taiwan independence' separatist forces, undermines Sino-U.S. relations, and jeopardizes peace and stability in the Taiwan Strait, going against the U.S. leaders' statements of 'not supporting Taiwan independence'. China expresses strong dissatisfaction and resolute opposition and has lodged a stern representation with the U.S. We urge the U.S. to immediately stop arming Taiwan and refrain from condoning and supporting 'Taiwan independence' forces to seek independence through military means. China will take strong measures to firmly counter this and resolutely defend national sovereignty, security, and territorial integrity. (Ministry of Foreign Affairs)
Individual Stock News
1. BYD insiders: The current cost reduction requests were mainly sent to electronic control and sensor suppliers, and there is a possibility that it may expand to suppliers in other fields in the future.
Insiders at BYD stated that the company has over 8,000 suppliers, and less than 1% of them received cost reduction notification emails. Another insider from BYD revealed that the cost reduction plan is being implemented in phases by sector, and this round of cost reduction requests was mainly sent to electronic control and sensor suppliers, numbering in the dozens; there is a possibility that it may expand to suppliers in other fields in the future.
2. The Shanghai Stock Exchange issued a regulatory warning to Jichu Dongfang's then Vice President Jiao Qingtai for engaging in short-term trading.
The Shanghai Stock Exchange issued a regulatory warning to Jichu Dongfang's then Vice President Jiao Qingtai. The spouse of the then Vice President Jiao Qingtai bought and sold the company's stock within six months, constituting short-term trading as defined by Article 44 of the (Securities Law), violating Articles 1.4, 3.4.1, 3.4.11 of the (Shanghai Stock Exchange Stock Listing Rules) and the commitments made in the (Declarations and Commitment Letters of Directors (Supervisors, Senior Management Personnel)). The Shanghai Stock Exchange stated in the document that, after investigation, on November 29, 2024, after the market closed, Jichu Dongfang disclosed an announcement stating that the spouse of the then Vice President Jiao Qingtai, Sun Moumei, had engaged in buying the company's stock and selling it within six months. Specifically, she bought 188,700 shares for 705,512 yuan and sold 49,400 shares for 322,088 yuan, resulting in a profit of 138,320 yuan from the short-term trading of 49,400 shares. As of the date of the above announcement, the relevant profits have been fully returned to the company.
3. Xian Dao Intelligent: CATL's shareholding ratio has fallen below 5%.
Xian Dao Intelligent announced that due to the implementation of the 2019 stock option incentive plan and the 2021 restricted stock incentive plan, as well as CATL reducing its shareholding through centralized bidding and block trading, as of November 27, 2024, CATL's cumulative change in shareholding ratio had not yet reached 1%. As of November 28, 2024, its cumulative change in shareholding ratio exceeded 1%. After this change, the shareholder holds 4.99999% of the company's shares, with the shareholding ratio falling below 5%.
4. Huaxin Cement: Plans to purchase equity assets worth 838 million USD to expand into the West African market.
Huaxin Cement announced that the company plans to purchase equity assets worth 838 million USD to ultimately hold control of a listed company in Nigeria. Specifically, the company plans to acquire 100% of the shares of Caricement B.V. ('Target Company A') for 560 million USD through its wholly-owned subsidiary Hainan Huaxin Pan-African Investment; and intends to acquire 100% of the shares of Davis Peak Holdings Limited ('Target Company B') for 278 million USD through its wholly-owned subsidiary Huaxin Hong Kong International Holdings. Target Company A and Target Company B are collectively referred to as 'Target Companies', which are special purpose companies, mainly holding shares of the final target company Lafarge Africa Plc. After the transaction is completed, the target companies and the final target company will become the company's controlling subsidiaries, and the company will indirectly hold 83.81% of the shares of the final target company. Since the final target company is a listed company in Nigeria, after completing the equity delivery of the target companies, the company must make a mandatory tender offer for the remaining 16.19% of the public shares of the final target company. The final target company has four large cement plants in the core market of Nigeria and holds high-quality limestone resources. After the merger is completed, the Nigerian plant will serve as an important strategic point for the company in West Africa, helping the company to rapidly expand its market in West Africa.
5. Kuaijingtong: There is still significant uncertainty regarding whether the company will enter pre-restructuring and restructuring processes.
Kuaijingtong issued a stock trading abnormal fluctuation announcement. After self-examination, the company confirmed that it did not violate the fair disclosure of information. On May 12, 2023, the company received a (Notice) from applicant Yin Jie, who applied for the company to be restructured on May 10, 2023, citing that the company could not repay its due debts and clearly lacked repayment ability but still had restructuring value. As of the date of this announcement, the company has not received any relevant notice or ruling from the Taiyuan Intermediate People's Court regarding the applicant's request for the company's restructuring and pre-restructuring matters. There is significant uncertainty regarding whether the applicant's request will be accepted by the court and whether the company will enter pre-restructuring and restructuring processes.
6. Da Dongfang: The company solemnly reminds investors to pay attention to the risks of trading in the secondary market and to make rational decisions.
Da Dongfang issued a stock trading risk warning announcement. The company's A-shares have hit the daily limit for 8 out of 10 trading days from November 18 to November 29, with one trading day hitting the lower limit. The cumulative deviation of the closing price increase over the last 10 trading days reached 72.59%, and the cumulative deviation in the last three trading days reached 28.03%. The actual volatility of the stock price, excluding the overall market and sector factors, was relatively large. As of November 29, 2024, the company's price-to-earnings ratio was 52.58 and the price-to-book ratio was 2.15. Given that the company's stock price hit the daily limit again on November 29, the cumulative turnover rate over the last three trading days reached 41.33%, with a transaction amount of 2.75 billion yuan. Considering the recent consecutive daily limits of the company's stock price and the rapid increase in speed, the company solemnly reminds investors to pay attention to the risks of trading in the secondary market, make calm judgments, rational decisions, and invest prudently.
7. Senqilin: The company's actual controller and chairman received a notice of case filing due to suspected short-term trading.
Senqilin announced that the company's actual controller and chairman, Qin Long, sold 30,500 'Qilin Convertible Bonds' he held on April 19, 2024, and bought 103,270 and 57,160 convertible bonds of the company on July 3 and July 4, 2024, respectively. The time gap between the sale and purchase did not exceed six months, constituting short-term trading. Qin Long has promised not to sell any of the 160,430 'Qilin Convertible Bonds' he holds in any way within 12 months from the date of purchase. On November 29, 2024, Qin Long received a (Notice of Case Filing) issued by the China Securities Regulatory Commission for suspected short-term trading. Currently, all production and business activities of the company are proceeding normally and orderly.
Article reposted from: Jin Ten Data