China Securities Journal ( zone )
the science and Innovation Board will strive to achieve results in the first half of next year. Shanghai fully supports the establishment of the science and innovation board and the pilot registration system
According to the Shanghai Stock Exchange, on the morning of November 14, at the unveiling ceremony of the Yangtze River Delta capital market service base held by the Shanghai Stock Exchange and the Shanghai Pudong New Area government, Wei Gang said that the science and Innovation Board would strive to “see results” in the first half of next year. Wei Gang said that the combination of the science and innovation board and the registration system is not only a simple plate, but actually constitutes a new market, making an incremental reform on the existing markets of several plates.
SASAC will increase the number of mixed reform pilots in key areas
Weng Jieming, deputy director of SASAC, said at the briefing on mixed ownership reform of state-owned enterprises held by SASAC on the 14th that the number of pilot enterprises in mixed ownership reform in key areas should be increased and more enterprises in key areas should be selected to carry out mixed ownership reform. We will expand the scale of pilot enterprises and select a number of enterprises in key areas with higher levels and larger scale to carry out the pilot of mixed ownership.
the popularity of the concept of scientific innovation does not reduce the opportunities of white horse shares
While the small and medium-sized market value scientific innovation stocks have been booming recently, the white horse varieties represented by household appliances, finance and food have been significantly adjusted in stages, showing a typical “seesaw” feature in style. In fact, the performance of white horse stocks is weak, but the long-term investment value is not inferior to the growth stocks supported by policies. With the recent collective correction of consumption and financial white horse stocks, long-term value investors, including foreign capital and funds, have opened their money bags and competed to “clean up”.
performance forecast “face changing” fast * ST Lanke and its then executives were publicly condemned
In the daily supervision of information disclosure, Shanghai Stock Exchange found that Lanpec Technologies Limited(601798) had violations in information disclosure and the performance of duties of relevant responsible persons. It decided to publicly condemn the company’s timely chairman Zhang Yanfeng and chief financial officer Wang Faliang, and condemn Xie Qing, then general manager, Liu Junyan, independent director and convener of the audit committee of the board of directors Li Xuyang, Secretary of the board of directors, circulated a notice of criticism.
Shanghai Securities News (special area)
the policy effect gradually appeared, and a number of key macro indicators rebounded in October
Since the second half of the year, we have made “precise policies” in stabilizing growth. At present, the effects of various policies are gradually emerging. According to the latest data released, in October, a number of macro data such as industrial added value and fixed asset investment rebounded, especially driven by a series of short board policies, the growth rate of infrastructure investment rebounded for the first time in the year in October.
there are “fierce increase” and “rapid decrease” funds. They use their positions to show their attitude towards the future market
Some people rush to the examination room at night, others resign and return to their hometown. Since October, the market has fluctuated sharply. Some people see opportunities and others feel risks. Statistics show that compared with the end of the third quarter, 235 funds increased their positions by more than 10% and 300 funds reduced their positions by more than 10%. Fund positions don’t lie! In the view of insiders, such a large change in fund positions in just over a month is quite rare for institutional investors, indicating that fund managers have great differences in their attitudes towards the future market.
the embarrassment of three-year fixed increase of 60% floating loss refinancing needs to be resolved
After three years, investors who caught up with the “last bus” of price locking and fixed increase in 2015 are about to lift the ban at the end of 2018. So far, what is the income? According to the reporter’s statistics, the above 112 three-year fixed increase, and the price of 70 orders has been upside down, accounting for more than half of the loss. On November 9, 2018, the refinancing policy ushered in double deregulation for the first time – allowing fixed increase to supplement working capital and repay debts, and significantly reducing the financing interval. Industry insiders said, “in the next step, we pay more attention to whether the issuance pricing mechanism and locking period can be further liberalized. After all, at present, the fixed increase is only slightly relaxed and has not touched the core.”
should the actual controller repay the debts of the listed company? Guotai Junan Securities Co.Ltd(601211) rich and noble birds go to court
The resale of “14 Fuguiniao” bonds due in April this year was in default. The underwriter Guotai Junan Securities Co.Ltd(601211) took Fuguiniao chairman Lin Heping to court and asked him to perform joint and several guarantee liabilities. Recently, the case was heard for the first time in the Shanghai financial court. In the court, the plaintiff and the defendant debated on whether the actual controller Lin Heping had irrevocable joint and several guarantee liability for the “14 Fuguiniao” bonds.
Securities Times (special area)
three dimensions of screening the targets of insurance rescue products: industry, qualification and share ratio
In addition to requiring the shareholders of listed companies to have liquidity capital needs, the screening criteria for the subject matter of special rescue pledge products can be roughly divided into three dimensions: the first is the industry of the listed company, the second is the qualification of the listed company itself, and the third is the ownership structure of the company, each of which has more detailed requirements. Generally speaking, it should conform to the safe and stable investment style of insurance funds.
the progress of A-Shares entering the motorcycle exceeded expectations. MSCI concept fund once again stood in the tuyere
According to the statistics of the third quarterly report of the fund, by the end of the third quarter, the scale of the whole market MSCI concept fund had reached 15.45 billion yuan. Insiders pointed out that the valuation of the A-share market has been at the bottom of history, the long-term investment value has been realized, and long-term funds such as social security and insurance have been taking positive action. Superimposed with the incremental funds brought by the increase of MSCI inclusion factors, the A-share market is expected to get out of the long-term market bottom.
stable dividend + high dividend yield, increased attractiveness of textile and garment stocks
After a continuous decline in the early stage, the textile and garment sector has fallen to an all-time low. As of the closing on the 14th, the overall P / E ratio of the textile and garment industry was 19.72 times, including 16.54 times for textile manufacturing and 22.91 times for clothing and home textile. Moreover, the textile and garment industry is one of the industries that love cash dividends most. When the market continues to decline, the subject of high dividend yield is often more attractive.
Dongfang cheyun plans to be listed independently, Hemei group terminates its cooperation with taoyun capital
In May this year, Hemei group (002356) announced that it had signed a strategic investment cooperation framework agreement with taoyun capital, the controlling shareholder of easy access vehicles. Taoyun capital planned to acquire no less than 5% of the company’s shares within three months after the signing of the agreement. However, on the evening of November 14, on the last day of taoyun capital’s “shareholding increase period”, Hemei group suddenly disclosed an announcement and announced the termination of its cooperation with taoyun capital. As of recently, taoyun capital has indirectly acquired 4.54% of the shares of Hemei group through its concerted action person Yijia capital, and its remaining 0.46% share acquisition obligations will no longer be fulfilled.
Securities Daily (special area)
expert: it is expected to reduce the reserve requirement by more than 50 basis points in the fourth quarter
Wang Tao, head of Asian economic research at UBS and chief China economist, said that with the increasing downward pressure on the economy, the government will introduce more monetary and credit easing measures. It is expected that the central bank will reduce the reserve requirement by more than 50 basis points again in the fourth quarter and several times in 2019 to guide the decline of market interest rate and bank average loan interest rate.
Shenzhen Stock Exchange: strengthening the listing of scientific and technological innovation enterprises
“Promoting the effective formation of innovative capital is an important mission of Shenzhen Stock Exchange.” On November 14, at the “China high tech forum” of the 20th high tech fair, Li Hui, deputy general manager of Shenzhen Stock Exchange, said in his speech that he expected more high-quality enterprises to choose the platform of Shenzhen Stock Exchange and grow on the platform of Shenzhen Stock Exchange. Shenzhen Stock Exchange will try its best to improve the service level and spare no effort to do a good job in service.
31 Anhui enterprises’ annual performance forecast and outstanding performance of infrastructure downstream enterprises
After the disclosure of the third quarterly report, the listed company officially entered the sprint stage of annual performance. The reporter combed the relevant data. A total of 34 Anhui companies in the third quarterly report released the full year performance forecast of 2018 (or gave risk tips on the full year performance). 31 companies are expected to make profits throughout the year, of which 15 companies disclosed that the performance will increase year-on-year.
Sieyuan Electric Co.Ltd(002028) the disrupted target of M & a “eats” Wu Yuefeng capital or supports the company with “one vote veto”
As one of the main representatives leading the return of ISSI privatization, after Wu Yuefeng capital transferred all its shares in ISSI to jicen partnership with Sieyuan Electric Co.Ltd(002028) shares, the remaining shareholders of ISSI had different opinions on injecting the remaining shares into A-share listed companies. On September 5 this year, Sieyuan Electric Co.Ltd(002028) indirectly invested in Beijing Sicheng by indirectly subscribing the equity of jicen partnership, and the latter acquired 41.65% equity of Beijing Sicheng. On November 11, another listed semiconductor company announced that it planned to acquire 53.59% equity of Beijing Sicheng. It is not uncommon for two listed companies to “share” one M & a target in a shares. However, it is rare for the two sides to compromise with each other, which has also become the focus of the market.
