China Securities Journal ( zone )
banks compete to reduce the investment threshold of financial products, and goods based products are expected to be popular
The new regulations on bank financial management recently lowered the investment threshold of public offering financial products from no less than 50000 yuan to no less than 10000 yuan. Recently, several banks, including China Construction Bank, Agricultural Bank of China and China Merchants Bank, announced to reduce the starting amount of sales of some financial products. Analysts believe that during the transition period, the issuance or acceleration of cash management financial products in bank public offering financial products will have a certain substitution for the goods base with the reduction of the threshold of bank financial management in the future. However, the large-scale issuance of cash management financial products by banks still faces the pressure of system development and liquidity provision.
since this year, the share repurchase of listed companies has reached a record high of 26 billion yuan
Data show that as of the closing on October 8, the amount of share repurchase implemented by A-share companies has reached 25.817 billion yuan this year, a year-on-year increase of 426%, which has reached a new high over the years. In 2017, the figure was 4.9 billion yuan.
China’s crude oil futures hit a new high since listing
Driven by the sharp rise in international oil prices during the long National Day holiday, China’s crude oil futures ushered in a substantial supplementary rise on the first trading day after the festival. The main 1812 contract day rose 2.97% to 572.5 yuan / barrel, a new high since the contract was listed. However, analysts said that the United States considered exempting some Iranian crude oil sanctions and the decline in the number of crude oil drilling, which alleviated the market’s concern about the shortage of crude oil supply. However, the Iranian issue is still the key factor leading the trend of international oil prices. Tight supply in the fourth quarter will support the overall strength of oil prices.
some assets of LETV are frozen
LETV announced on the evening of October 8 that it had recently received the civil ruling, and the applicant was Deqing KaiJiao, one of the new investors of LETV sports. This ruling resulted in the freezing of some bank accounts and equity of holding and participating subsidiaries of the company. The frozen amount involved in the bank account is 3.57 million yuan. If the company is finally judged to bear the responsibilities of repurchase and litigation compensation, and the company fails to perform relevant obligations in time, it will lead to the judicial disposal of the frozen equity of holding and participating subsidiaries, and may lose the control and shareholder rights of relevant holding subsidiaries or participating subsidiaries.
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Shanghai Securities News (special area)
tax reduction and fee reduction are higher than expected. There is a good prospect of future VAT rate reduction
The government’s efforts and speed in promoting tax reduction and fee reduction far exceeded expectations. It is reported that various tax reduction and fee reduction measures determined at the beginning of this year have been basically introduced. The total annual tax reduction is expected to exceed 1.3 trillion yuan, higher than the tax reduction target of 1.1 trillion yuan set at the beginning of this year.
raise the forecast results of the first three quarters, and some companies earn more than 200 million
Today, a number of listed companies disclosed the revision announcement of the performance forecast for the first three quarters, and the upward revision range is optimistic. After correction, the profit data of Avary Holding (Shenzhen) Co.Limited(002938) in the first three quarters of this year is expected to be 1.5 billion yuan to 1.59 billion yuan, more than 200 million yuan compared with the previous forecast data, and the year-on-year growth rate is adjusted to 77.70% to 88.36%.
just after the holiday, the two hot areas ushered in new policy trends
The executive meeting of the State Council held on October 8 deployed to promote the transformation of shantytowns. The meeting defined the future policy priorities, of which two points deserve attention: adjust and improve the monetized resettlement policy for shed reform according to local conditions, and cancel the monetized resettlement preferential policy as soon as possible in cities and counties with insufficient commercial housing inventory and high pressure on house prices; We will maintain the level of subsidies from the central government and increase the issuance of special bonds for shed reform by local governments in an orderly manner. Pay close attention to the research and introduction of financial support policies for the newly opened shed reform projects, and it is strictly prohibited to blindly borrow money and other illegal acts in the name of shed reform.
the third quarterly report has a huge loss. Lianshi nonferrous metals relies on selling assets
Lianshi nonferrous metals today disclosed the first three quarterly reports of the two cities. Unfortunately, the company lost 213 million yuan in the first three quarters. However, the company has planned to turn around the loss through asset sales. The company expects to achieve a profit of 7.48 million yuan in 2018.
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Securities Times (special area)
improve the efficiency of landing audit of small amount rapid M & a system
Recently, the CSRC clarified the application of the “small amount fast” audit of mergers and acquisitions of listed companies. Insiders said that this is the move of the CSRC to continue to reduce the time of M & A, which is conducive to accelerating the review speed. In the form of regulatory Q & A, the CSRC made clear the application and conditions of the “small amount fast” audit of M & A. If the merger and reorganization of a listed company meets the requirements that the cumulative transaction amount in the last 12 months does not exceed 500 million yuan, or the cumulative issued shares in the last 12 months do not exceed 5% of the total share capital of the listed company before the transaction, and the cumulative transaction amount in the last 12 months does not exceed 1 billion yuan, the “small amount fast” audit can be applied.
the Internet insurance regulatory measures are accelerating the revision
The Interim Measures for the supervision of Internet insurance business, which came into force in October 2015 and was originally scheduled to be valid for 3 years, will remain valid until the new provisions are issued. The cbcirc issued a notice to the insurance industry on September 30, announcing the news and saying that it was accelerating the revision of the regulatory measures.
the limited production this winter is no longer “one size fits all”. The black department is expected to reap the dividend in the peak season
On the eve of the 11th small holiday, the Ministry of ecological environment announced the action plan for comprehensive treatment of air pollution in autumn and winter 2018-2019 in Beijing, Tianjin, Hebei and surrounding areas. Compared with the specific amount of production restriction ratio of 30% to 50% set in the iron and steel, building materials, coking, casting and other industries in the autumn and winter pollution prevention and control battle of 2017, the plan is obviously soft, and it is clear that “one size fits all” shutdown is no longer required, and all localities are required to implement differentiated peak shifting production according to the actual situation.
Huaye capital encountered a capital routine: the explosion of 10 billion creditor’s rights startled the “radish chapter”
In the fifth year of entering the financial field as a real estate enterprise, Huaye capital (600240) found that it had encountered a capital routine. On the evening of September 25, Huaye capital’s accounts receivable investment exploded. The next day, the Shanghai Stock Exchange issued an inquiry letter, pointing out that Huaye capital said in the reply to the inquiry letter of the semi annual report on September 20 that there was no deferred payment. However, the company failed to seriously perform the verification obligation and disclose it in time on July 26, August 23 and September 20, requiring it to explain the reasons for the delayed disclosure and clarify the relevant responsible personnel.
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Securities Daily (special area)
international oil prices hit a new high in recent four years. Seven oil service companies expect to double their net profit in the first three quarters
The continuous rise of oil prices has driven the performance of the oil service sector to maintain a high boom. According to the statistics of East Money Information Co.Ltd(300059) choice by the reporter of Securities Daily, as of October 8, 16 companies in the oil service sector announced the performance forecast for the first three quarters, of which 12 were expected to be happy, accounting for 75%, and the performance of 7 companies such as Tong Petrotech Corp(300164) is expected to double year-on-year.
it is difficult to slow down the capital pressure of real estate enterprises, and the industry shuffles or accelerates
On the last day of the National Day holiday, the central bank announced that it would reduce the RMB deposit reserve ratio of large commercial banks, joint-stock commercial banks, urban commercial banks, non County Rural Commercial Banks and foreign banks by 1 percentage point from October 15, 2018. Although the central bank lowered the reserve requirement again to release liquidity, the benefits for the financing of real estate enterprises are relatively limited, and it is difficult for funds to enter the development field directly. It can be said that the high financing cost is still a big problem in front of many real estate enterprises.
in the first eight months, the original premium of 31 insurance enterprises decreased sharply, exceeding 50%, and 9 Insurance Enterprises
According to the latest data disclosed by the CBRC, from January to August this year, the original premium income of life insurance companies was 1963.927 billion yuan, a year-on-year decrease of 5.37%. Among the 81 comparable companies, 50 had positive growth in original premiums and 31 had negative growth. It is noteworthy that the original premiums of nine companies such as Jixiang life and Huahui life dropped by more than 50% in the first eight months.
st Yunsheng sold 23.3348 million yuan to stop production and loss making subsidiary exchange emergency inquiry
St Yunsheng, which lost money in the first half of the year, began to “make a living” by selling off its assets near the end of the year. On the evening of September 27, St Yunsheng announced that the company planned to transfer 51% equity of health capital technology held by the company to health capital medical for 23.3348 million yuan.
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