China Securities Journal ( zone )
index component stocks will adjust institutions to focus on arbitrage opportunities
As December approaches, some weighted indexes will usher in routine component stock adjustment again. The difference this year is that the scale of various ETFs has increased significantly. Will the increment of huge passive funds bring different opportunities to the newly incorporated component stocks? From the historical data, it seems to have a significant effect, but some institutions said that with more and more people paying attention, this part of excess return may be weakening.
the annual performance of more than 700 listed companies is expected to increase significantly in industries such as chemical industry, mechanical equipment, medicine and biology
As of the press time on the evening of the 22nd, the data showed that 1210 listed companies had disclosed the annual performance forecast of 2018. In addition to 72 uncertain companies, 773 companies (including pre increase, slight increase, loss recovery and profit renewal) achieved performance pre Hi, accounting for 63.88%. From the perspective of industry distribution, high growth industries such as medicine, biology, electronics, computers and mechanical equipment have a high probability of “high transfer” in recent two years.
big consumption makes up for the rise, and the wheel balance tilts towards performance
Yesterday, the strong theme continued to adjust, and the large consumption varieties of stagflation in the early stage were gradually active. The analysis points out that the market maintains the heat in the floor through high-low switching, and the orderly rotation of February 8 not only strengthens the rebound foundation, but also reflects that near the end of the year, with the improvement of risk preference, the market investment logic is expected to move closer to the main line of performance. After all, big consumption is still the most deterministic variety of performance at present.
equity transfer twists and turns Jiangsu Leike Defense Technology Co.Ltd(002413) the direction of control is complicated
On the morning of November 22, it was announced that the agreement on the transfer of Jiangsu Leike Defense Technology Co.Ltd(002413) 5.06% equity held by the major shareholder Changfa group to CYTS zhongbing was terminated. Meanwhile, the share transfer agreements signed by Changfa group, Cuiwei group and Minmetals trust are still valid. After the share transfer is completed, Cuiwei group and Minmetals trust will become shareholders holding more than 5% of the company. It is worth noting that Minmetals trust and CYTS zhongbing planned to transfer shares in the form of trust and private fund, and the actual prosecution behind it is unknown. What’s more strange is that the soldiers of the youth brigade have set up corresponding private equity funds. It is unknown why they quit halfway.
Shanghai Securities News (special area)
prepare for the scientific innovation board! Shanghai pays out policy to cultivate “seed players”
On November 22, the Shanghai municipal government officially issued several opinions on accelerating the development of high-tech enterprises in this city (hereinafter referred to as “several opinions”), and put forward 12 policy measures from four aspects: implementing the high-tech enterprise cultivation project and optimizing the innovation policy environment, which is intended to promote Shanghai to accelerate the cultivation of a group of people who master core technologies and own independent intellectual property rights An innovative leading enterprise with international competitiveness. The opinions put forward that Shanghai will innovate the mode of financial investment, implement the R & D support mechanism for high-tech cultivation enterprises, give one-time support of 200000 yuan to 2 million yuan to warehousing enterprises, and increase the use and scope of “scientific and technological innovation vouchers” and “four new vouchers”.
the number of accounts opened in the North increased by 274% in five quarters, and overseas funds accelerated the layout of A-Shares
“As of September this year, the number of special independent accounts (SPSA) opened by BEIXIANG capital in the Hong Kong Stock Exchange has reached 6363, a sharp increase of 274% compared with 1700 in June last year.” Wei Zhen, head of MSCI China Index Research, disclosed at the first “global index fund forum”. Analysts said that the rapid growth in the number of special independent accounts means that more and more overseas institutions have joined the team of investing in a shares.
a batch of favorable documents will be issued soon, and PPP market confidence is expected to revive
Confidence in the PPP market is expected to be greatly boosted. Jiao Xiaoping, director of the government and social capital cooperation center of the Ministry of finance, revealed at the 4th China PPP Financing Forum 2018 yesterday that a series of documents to promote PPP development will be issued soon, including PPP regulations promoted by the Ministry of Finance in cooperation with the Ministry of justice and relevant opinions on regulating PPP development.
Gettopacoustic Co.Ltd(002655) there are many doubts about absorption and Wanmo acoustics. The exchange issued 14 questions
Once disclosed, the plan for absorbing and merging Wanmo acoustics, such as the valuation of the restructuring object almost doubled in less than one year, the careful circuitous design of Jiajia’s capital increase of 396 million yuan for investment, and the extremely dispersed equity after the transaction, has aroused great concern in the market and attracted regulatory inquiries from Shenzhen Stock Exchange. Up to 14 questions are waiting for the company to answer one by one.
Securities Times (special area)
Ministry of Commerce: it will print and issue the supervision scheme for cross-border e-commerce retail import
Gao Feng, a spokesman for the Ministry of Commerce, said at a regular press conference yesterday that the Ministry of Commerce will issue a cross-border e-commerce retail import supervision plan with relevant departments as soon as possible, and do a good job in organizing and implementing it. Meanwhile, in order to actively support the development of cross-border e-commerce retail import, on the basis of the current 15 cities, the scope of application of the policy will be further expanded to 22 newly established cross-border e-commerce comprehensive pilot zone cities such as Beijing, which will be implemented from 2019.
Trust Department of China Banking and Insurance Regulatory Commission: trust rating will add a scoring item supporting private enterprises
As an important part of broadening the financing channels of private enterprises, how the trust industry will further support the development of private enterprises has attracted much attention. The main person in charge of the trust department said that regulatory rating is an effective means for regulatory authorities to convey regulatory guidance and guide the business behavior of financial institutions. In the current regulatory rating methods, there are scores for the trust company’s performance of social responsibility. In the next step, a score item for supporting private enterprises will be specially added under the performance of social responsibility score, so as to encourage the trust company to serve excellent private enterprises more actively and accurately.
Shenzhen Stock Exchange cracked down on the illegal occupation of funds by controlling shareholders
Since the beginning of this year, the controlling shareholders and actual controllers of some listed companies have been affected by factors such as changes in the market financing environment and high proportion of share pledge. The capital turnover has been difficult, the credit risk has been gradually exposed, the illegal occupation of funds of listed companies has increased, and the market impact is bad. The relevant person in charge of the Shenzhen Stock Exchange said that the Shenzhen Stock Exchange will severely crack down and urge listed companies to develop legally and in accordance with regulations.
new venture capital concept stocks rose Changzhou Nrb Corporation(002708) the original shareholders planned to reduce their holdings by a large amount
Due to an announcement on the transfer of real control, the Changzhou Nrb Corporation(002708) listed in 2014 was sought after by the market, and 10 limit boards were recorded in 11 trading days. While the market questioned the selling of shell cash by the actual controllers of listed companies, Wuhan contemporary science and Technology Industry Group Co., Ltd., another original shareholder of the company, also chose a large reduction.
Securities Daily (special area)
the central bank has not reverse repo for 20 consecutive trading days, and the liquidity is still abundant
On November 22, the central bank announced that the total liquidity of the banking system is at a reasonable and sufficient level, and no reverse repurchase operation will be carried out on November 22. So far, since October 26, the central bank has suspended reverse repo for 20 consecutive trading days. Insiders said that the recent introduction of a number of stimulus policies shows that the current structural financing problem has become the focus of the policy level, and the central bank may increase the medium and long-term capital supply to help the implementation of the policy.
the “high transfer” of the 2018 annual report was staged. In the first quarter, 156 potential stocks were screened under four conditions
According to statistics, the market research center of Securities Daily found that at present, there are 156 shares in Shanghai and Shenzhen, which meet the four conditions of more than 4 yuan of capital reserve per share in the third quarter of this year, more than 1 yuan of undistributed net profit per share, more than 8 yuan of net assets per share and the same year-on-year growth of net profit in the third quarter of this year.
The goodwill of 206 biomedical companies reached 154.4 billion yuan and 43 companies exceeded 1 billion yuan
On November 16, the CSRC issued the No. 8 document on accounting regulatory risk tips for goodwill impairment, which made a detailed description from three aspects: accounting treatment and information disclosure of goodwill impairment, audit of goodwill impairment and evaluation related to goodwill impairment.
RMB 12.3 billion goodwill ceiling industry first Shanghai Pharmaceuticals Holding Co.Ltd(601607) response no impairment risk
By the end of the third quarter of this year, Shanghai Pharmaceuticals Holding Co.Ltd(601607) goodwill had reached about 12.3 billion yuan, ranking first in absolute value among Listed Companies in the pharmaceutical sector, accounting for nearly 30% of net assets. The impairment test at the end of the year is approaching. The CSRC recently issued a document suggesting the risk of accounting supervision. Industry insiders believe that this move is expected to squeeze out the moisture of goodwill, and listed companies are facing a sharp rise in the pressure of impairment affecting current profits and losses.
