China Securities Journal ( zone )
the central bank’s liquidity “cut-off” and financial investment “fill”
On the 12th, the record of continuous suspension of reverse repurchase by the central bank was refreshed to 34 working days. Although the central bank’s liquidity is almost “out of supply” recently, the overall market capital is still stable and loose, and the money market interest rate is running at a low level. The agency pointed out that the central bank’s data show that this year’s financial investment is advanced to make up for the lack of liquidity supply of the central bank. With the support of large financial investment at the end of the year, the total liquidity is guaranteed, and the capital may inevitably fluctuate, but there is no risk of continuous sharp fluctuation.
more than half of the principal guaranteed funds are transformed into mainstream options
With the gradual implementation of the new asset management regulations, the Principal Guaranteed Fund has gradually entered the peak of transformation. Data show that as of December 12, a total of 67 principal guaranteed funds have been transformed this year and become the main force of transformation. Among them, principal guaranteed funds are mostly converted to mixed funds and debt funds with stable style. Industry insiders believe that for investors with low risk appetite, debt based and absolute return strategy funds with strong investment management ability can be considered.
accelerating the release of profits and the dawn of reversal in the beer sector
Beer stocks staged a “rich family feast” yesterday, and the shares of listed companies such as Guangzhou Zhujiang Brewery Co.Ltd(002461) , Tsingtao Brewery Company Limited(600600) , Beijing Yanjing Brewery Co.Ltd(000729) , Chongqing Brewery Co.Ltd(600132) rose collectively. The key to opening investors’ imagination is that the beer industry is at the bottom of the cycle, while most industries are at the top of the cycle. Considering the triple factors of rising price per ton of wine + decreasing cost of packaging materials + tax reduction in 2019, the market generally believes that the profit of the beer industry will accelerate the release, and the performance is expected to exceed expectations.
affected by the new photovoltaic policy and industry fluctuations, all production lines of Tianlong optoelectronics headquarters were shut down
Tianlong optoelectronics announced on the evening of December 12 that due to the impact of industry fluctuations and new photovoltaic policies, the market demand for the company’s main products single crystal furnace and polycrystalline furnace decreased sharply. There is no new order recently, all the production lines of the company’s headquarters are stopped, and the subsidiary Shanghai James electronics is still producing. It is worth noting that the company fell into a loss in the third quarter. At the same time, all the shares held by the controlling shareholders were frozen. Within half a month, three senior executives resigned and the directors were arrested.
Shanghai Securities News (special area)
the policy red envelope issued by the executive meeting of the State Council will be reduced from next month, and the tax burden of individual partners of venture capital enterprises will remain unchanged for five years
The executive meeting of the State Council held yesterday issued two policy red envelopes: one was invested in the venture capital circle. The meeting decided to implement income tax preference, promote the development of venture capital and increase support for entrepreneurship and innovation; The other is to invest in the field of “agriculture, rural areas and farmers”. The meeting plans to accelerate the promotion of agricultural mechanization and the upgrading of agricultural machinery and equipment industry.
the development and Reform Commission supports the direct financing of “top students” and implements the “report and review” of high-quality enterprise bonds
The national development and Reform Commission recently issued the notice on supporting the direct financing of high-quality enterprises and further enhancing the ability of corporate bonds to serve the real economy. It implemented the “report and review immediately” for high-quality corporate bonds, arranged special personnel for docking and special review, compared with the “accelerating and simplifying the review” bond review procedure of the national development and Reform Commission, and appropriately adjusted the review policy requirements.
top foreign capital: next year will be a reversal year, and Chinese stocks are bullish
Recently, many foreign-funded institutions pointed out in their 2019 outlook that the world economic growth may usher in some challenges next year, but the fundamentals of emerging markets, including China, are expected to remain stable. Some institutions said that Chinese enterprises may achieve double-digit profit growth in 2019. Considering the attractive risk return, they are optimistic about Chinese stocks.
accelerate the layout of financial management subsidiaries and small and medium-sized banks from heart to action
As the product of the asset management industry, the bank’s financial management subsidiary will play an important role in the asset management market. Many insiders believe that the establishment of financial management subsidiaries is very beneficial to urban commercial banks and a good opportunity for these banks to compete for remote business. However, some people from large-scale urban commercial banks said that it may not be all good, because after the establishment of an independent legal person company, the internal operation space of the bank becomes smaller. For example, the way of “blood transfusion” financial management business with its own funds is quite limited.
Securities Times (special area)
from the perspective of insurance capital, 2019: the economy is facing downward pressure and policy hedging is expected
In a recent exchange activity in the insurance industry, many insurance institutions believe that the downward pressure on the economy in 2019 is still large, but based on the economic downturn, there are expectations of introducing some active regulation policies. There are differences on whether the first and second tier real estate policies are relaxed. All institutions have consistent expectations for the continued decline of bond yields in 2019 and believe that there are certain opportunities for bond investment in 2019.
the largest stock ETF exceeded 20 billion, a new high in more than three years
Although the stock market continues to fluctuate and adjust this year, with the pursuit of various funds, the scale of stock traded open-end index funds (ETFs) has increased significantly. The total share of Huaxia Shanghai Stock Exchange 50ETF, China’s earliest and largest stock ETF, has recently exceeded 20 billion, reaching a new high of more than three years, and is only one step away from the historical peak of 21.766 billion.
low temperature days push up the coal consumption of power plants, and the price of thermal coal is still low
With the recent continuous decline in temperatures in many parts of the country, the demand for thermal coal finally ushered in the news of boost. The reporter of securities times · e company learned that the daily consumption of the six coastal power plants has exceeded 700000 tons, basically the same as that of the same period last year. However, analysts believe that at present, the inventory of power plants is still high, the short-term demand boost is difficult to push up the coal price, and the decline in the peak season of power coal this winter may continue.
Baota Industry Co.Ltd(000595) the debt of the controlling shareholder is urgent or passively reduced
Following several previous announcements that the shares held by Baota Petrochemical Group Co., Ltd., the controlling shareholder of the company, were waiting to be frozen, Baota Industry Co.Ltd(000595) (000595) announced again on the evening of December 12 that some shares held by Baota Petrochemical may be passively reduced.
Securities Daily (special area)
Hainan promotes 40 benchmarking World Bank standards for optimizing business environment
Recently, Hainan Province issued the action plan for optimizing the business environment in Hainan Province (2018-2019), which indicates that Hainan Province will further accelerate the construction of legalization, internationalization and facilitation of the business environment. Some analysts believe that the policy of attracting talents previously issued by Hainan Province, as well as its unique natural environment, the combination of policy, talent and environment, will create huge development space for the economic development of Hainan Province.
In during the year, 1843 companies involved in M & a jointly recommended 14 related concept stocks
After the deregulation of the regulatory policies for many times, the M & a market continues to pick up. Industry insiders said that the opening of the M & a market is of great significance to the operation and development of listed companies, especially for some emerging industries representing the direction of economic transformation, M & A can become bigger and stronger in a short time. Relevant policies not only provide a booster for the rebound of the secondary market, but also provide a new exit channel for venture capital companies in the primary market, which is conducive to consolidating the asset quality of some small and medium-sized listed companies.
the annual production and sales of new energy vehicles will exceed 1.2 million, and 8 beneficiary stocks in three fields welcome the layout opportunity
According to the latest production and sales data of new energy vehicles, in November, the production and sales of new energy vehicles completed 173000 and 169000 respectively, an increase of 36.9% and 37.6% respectively over the same period last year. In terms of cumulative production and sales in the first 11 months of this year, 1054000 and 1030000 vehicles were completed respectively, an increase of 63.6% and 68% respectively over the same period of last year. The agency believes that the month on month growth rate of production and sales in the peak season at the end of the year is improved, and the annual production and sales of new energy vehicles are expected to exceed expectations to achieve more than 1.2 million vehicles. Looking forward to 2019, class a vehicles with high mileage are expected to continue to develop.
Datang Telecom Technology Co.Ltd(600198) the “shell protected” net assets of repeatedly sold assets are still negative, and the prospect is worrying
Another year of “shell protection”, ST companies have tried their best, and Datang Telecom Technology Co.Ltd(600198) can be regarded as a “model”. Before half of December, Datang Telecom Technology Co.Ltd(600198) has successively issued two asset sales announcements. Although Datang Telecom Technology Co.Ltd(600198) has realized losses through multiple asset sales, the net assets in the first three quarters were still negative. According to the regulations, Datang Telecom Technology Co.Ltd(600198) is still unable to avoid the risk of being suspended if the net assets can not turn around this year.
