China Securities Journal ( zone )
Ministry of Finance: strengthening local government debt management in five aspects
When reporting on the budget implementation since the beginning of this year at the fifth meeting of the Standing Committee of the 13th National People’s Congress on the 28th, finance minister Liu Kun said that he would firmly do a good job in deleveraging and grasp the strength and rhythm. Adhere to the principle of treating both symptoms and root causes, and control the debt risk of local governments in accordance with laws and regulations. Specifically, Liu Kun said that in the next step, local government debt management will be strengthened from five aspects.
disguised leveraged long-term rental apartment ABS business or strong supervision
Recently, the topic of financial capital disturbing the order of the rental market has attracted the attention of regulatory authorities. Experts said that long-term rental apartments, as the bottom asset of ABS, had been highly sought after: on the one hand, they met investors’ expectations for risks and benefits, on the other hand, they became an important boost to the development of the long-term rental market. However, there are many chaos in the current long-term rental apartment market. Some institutions use ABS to add leverage in disguise, increasing the risk. It is expected that the ABS related business of long-term rental apartments will soon usher in strong supervision, and the product issuance may face a higher threshold.
the dredging of IPO “barrier lake” is in sight, the polarization is serious, and many small and medium-sized investment bank projects are out of stock
Behind the shortening of queuing time is the dredging of IPO “barrier lake”. The reporter learned that at present, the number of queuing enterprises has dropped to less than 300. However, the “cold winter” of investment banks continues, with serious polarization. Many small and medium-sized investment banks are in the embarrassing situation of project stalling.
the net profit of more than 7200 listed enterprises increased by more than 10% in the first half of the year
According to the data, as of August 24, 7287 listed enterprises released the 2018 semi annual report. The average operating revenue increased by nearly 20% year-on-year, and the net profit attributable to the parent increased by nearly 13% year-on-year. Insiders said that the synchronous growth of revenue and net profit shows that the listed enterprises have strong growth.
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Shanghai Securities News (special area)
382 fines were issued in the second quarter, and the punishment of insurance supervision was unprecedented
The reporter learned exclusively that the China Insurance Industry Association (hereinafter referred to as “China Insurance Association”) made a statistical comb on the administrative punishment of the insurance industry in the second quarter of this year. In the second quarter, the CIRC system imposed 382 administrative penalties on 273 sub institutions of the insurance industry, investigated and dealt with 356 violations, fined 425 person times, fined 63.697 million yuan, revoked 12 person times of qualification, ordered to stop accepting new business 14 times and revoked business licenses 2 times.
the Hong Kong Monetary Authority has taken another step to defend Hong Kong exchange. Since this year, it has bought more than 100 billion Hong Kong dollars
The Hong Kong dollar once again triggered the “weak side exchange guarantee” of HK $7.85 to US $1. Shanghai Securities News learned from the Hong Kong Monetary Authority yesterday that on the evening of August 28, the Hong Kong Monetary Authority once again undertook Hong Kong dollar selling in the market and bought HK $7.85 billion. This is the 26th time this year that the Hong Kong Monetary Authority has entered the market to maintain the stability of the Hong Kong dollar exchange rate since its first move on April 12. The cumulative scale of buying Hong Kong dollars has exceeded 100 billion, reaching about 103.4 billion Hong Kong dollars. As of press time, the exchange rate of the Hong Kong dollar against the US dollar has stabilized below 7.85.
the scale of asset management revenue of many securities companies has decreased, and the transformation has taken the initiative to manage their own strategies
In the first half of the year, with the implementation of the new regulations on asset management, the asset management business of securities companies faced the pressure of adjustment and transformation. From the semi annual report disclosure of securities companies, under the background of “going to the channel”, the income and scale of asset management business of many securities companies have decreased. With the accelerated transformation of the industry to active management, the industry differentiation is more obvious, and the market is further concentrated to leading securities companies and characteristic securities companies.
Xia Haijun, President of Evergrande group, : Evergrande is waiting for the right time to restructure and list
On August 28, China Evergrande, a mainland real estate enterprise listed in Hong Kong, released the semi annual results of 2018. During the reporting period, the company’s operating revenue reached 300.35 billion yuan, a year-on-year increase of 59.8%; The net profit was 53.03 billion yuan, a year-on-year increase of 129.3%; Compared with the end of last year, the net debt ratio decreased by more than 30% to 127.3%. Xia Haijun, President of Evergrande group, said that the profit growth was mainly due to the transformation of enterprise development model and business model. It was not a problem to achieve the annual sales target of 550 billion yuan this year. When talking about the progress of Evergrande’s return to a, Xia Haijun said that Evergrande’s return to A-Shares is completely different from the IPO of real estate enterprises. The company has maintained close communication with the CSRC and is waiting for the right time to restructure and list.
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Securities Times (special area)
the three major banks of China rural construction made a net profit of 371.9 billion in the first half of the year, and the net interest margin continued to improve
Last night, among the four major state-owned banks, Bank Of China Limited(601988) , Agricultural Bank Of China Limited(601288) , China Construction Bank Corporation(601939) released the results of the first half of 2018 respectively, and the three banks achieved a total net profit of 371.9 billion yuan. From the key indicators such as net profit growth, net interest margin and non-performing rate, the “most difficult” period of large state-owned banks has passed, and the operation situation continues to improve.
the onshore and offshore exchange rates continue to hang upside down, and the RMB exchange rate is expected to stabilize
Since the counter cyclical factor of the central parity rate of RMB against the US dollar was restarted, the exchange rate of RMB against the US dollar has rebounded significantly, and the central parity rate has increased significantly for two consecutive trading days. On August 28, the central parity rate of RMB against the US dollar was reported at 6.8052, up 456 points compared with the previous day, the largest increase since June 1, 2017.
the net profit of banking fund companies in the first half of the year increased steadily
Last night, Bank Of China Limited(601988) , China Construction Bank Corporation(601939) , Agricultural Bank Of China Limited(601288) , Industrial Bank Co.Ltd(601166) , Sinolink Securities Co.Ltd(600109) etc. disclosed the first half annual report of 2018, which made a centralized appearance of the profitability of many banking fund companies in the first half of the year, and the overall net profit increased steadily. Among them, CCB fund earned 640 million yuan in the first half of the year, ranking second among the exposed profit fund companies.
“touch porcelain” JDB was reversed by God? Zhonghong shares said the agreement was true
Within one day, there were two major reversals in the reorganization of Zhonghong shares (000979) by jiaduobao group, the “king of herbal tea”. Zhonghong shares replied to and clarified the letter of concern of the exchange late on the 28th night, saying that the company’s restructuring agreement was signed in the presence of all parties, in which the operation and financial data of JDB were provided by JDB group, and Chen Hongdao, the actual controller of JDB group, appointed Huang Weiqing as the CEO of JDB group. The signing of the agreement was legal, compliant, true and effective.
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Securities Daily (special area)
national development and Reform Commission: the main macro indicators in the first half of the year were in a reasonable range
On August 28, at the fifth meeting of the Standing Committee of the 13th National People’s Congress, he Lifeng, director of the national development and Reform Commission, was entrusted by the State Council to report to the Standing Committee of the National People’s Congress on the implementation of the national economic and social development plan since this year. He Lifeng introduced that in the first half of this year, China’s economy maintained an overall stable, stable and good trend. The main macro-control indicators are within a reasonable range, the economic structure has been continuously optimized, and preliminary results have been achieved in preventing and resolving financial risks.
the supply and demand pattern of rare earth is expected to be significantly improved, and more than 60% of the company reported a year-on-year increase in net profit
In the context of the expected improvement of the industry, the institutional attention of Rare Earth concept stocks is also gradually heating up. In the past 30 days, a total of 12 stocks have been rated as “buy” or “overweight” by institutions, Aluminum Corporation Of China Limited(601600) institutions have reached 8, and Beijing Zhong Ke San Huan High-Tech Co.Ltd(000970) , Tdg Holding Co.Ltd(600330) , Zhongshan Broad-Ocean Motor Co.Ltd(002249) , Yantai Zhenghai Magnetic Material Co.Ltd(300224) , Xiamen Tungsten Co.Ltd(600549) and other stock institutions have also reached 3 or more.
several pension target funds were intensively issued in mid September, and the third-party sales platform is waiting for the firing of the gun
Yesterday, “Huaxia pension target date 2040 three-year holding hybrid fof” was officially issued, opening the curtain of the first batch of pension target funds. The reporter learned from a number of fund companies that the preparation of pension target fund is basically coming to an end, and many products will be intensively launched in mid September. In addition, due to the system upgrading of the custodian bank of the fund company, the release time of several products may be postponed to October.
average performance but bright lineup of shareholders Xinjiang Talimu Agriculture Development Co.Ltd(600359) led five securities companies to collectively increase their holdings
Among the top ten circulating shareholders of the semi annual report, securities companies accounted for 5 seats, holding a total of about 6.7285 million shares, all of which were new in the second quarter of this year. On August 28, Xinjiang Talimu Agriculture Development Co.Ltd(600359) released its 2018 semi annual report. The announcement shows that in the first half of this year, the company achieved a revenue of 310 million yuan, a year-on-year decrease of 61%; The net profit realized was a loss of 22.1535 million yuan and a profit of 42.8835 million yuan in the same period of last year. Although Xinjiang Talimu Agriculture Development Co.Ltd(600359) there were few highlights in its operating performance in the first half of this year, and even the amount of loss in the second quarter increased month on month, its list of shareholders was full of highlights.
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