China Securities Journal ( zone )
project overweight infrastructure investment reenergization
After the national development and Reform Commission restarted the examination and approval of urban rail transit construction planning, Guangdong and other places recently increased infrastructure investment. With trillion yuan of infrastructure investment poised, fiscal expenditure significantly accelerated and local bond issuance accelerated, the government and social capital cooperation (PPP) ushered in a new round of development, infrastructure investment is expected to bottom out and pick up, and the follow-up policies to stabilize infrastructure are expected to continue to be issued.
the continuous trust company under strict supervision was fined more than 6 million yuan this year
According to statistics, since this year, the trust company has been issued 18 tickets by the regulatory authorities. From January to the end of July, the total penalty amount of 18 tickets received by the trust company was 6.15 million yuan.
306 companies received more than ten million government subsidies in the first half of the year
Statistics show that as of August 21, 1082 of the 1146 listed companies that have disclosed semi annual reports have received government subsidies. Among them, 30% of listed companies received subsidies of more than 10 million yuan, and 20 listed companies made profits through government subsidies. Among the companies with large subsidies, many said that the government subsidies were sustainable because they were related to daily business activities. Among them, the VAT refund subsidy policy is the main reason for sustainability.
more than 40 companies build complex networks and think about whether the network is delisted or not
After the board of directors of zongsi network of the new third board company approved the application for delisting, the proposal was rejected by the company’s extraordinary general meeting in just half a month. After many investigations, the reporter found that zongsi network has a close relationship with more than 40 companies such as Shanghai Letang and Shanghai woshi controlled by he Dian and Xu Bo, and is suspected of falsely increasing performance through Guangzhou Lianchi and Guangzhou youjiu. At present, he Dian and Xu Bo have been filed for investigation by the public security organ because of their involvement in the “contract fraud case”.
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Shanghai Securities News (special area)
in July, local governments issued 757 billion yuan of bonds, and the next three months will be a centralized issuance period
According to the latest data of the Ministry of finance, in July 2018, the country issued 757 billion yuan of local government bonds. From January to July, China issued 2167.9 billion yuan of local government bonds. Among them, general bonds are 1604.7 billion yuan and special bonds are 563.2 billion yuan. The new special bonds will become the focus of mainland bond issuance in, and the next three months will be a centralized issuance period.
the bond financing underwritten and issued is inconsistent with the agreed purpose, and the two securities companies are issued a warning letter
Due to the failure to fully perform the duties of the trustee, the bond funds raised by its underwriting and issuance are inconsistent with the agreed purpose. Guizhou securities regulatory bureau and Gansu Securities Regulatory Bureau recently issued warning letters on Sinolink Securities Co.Ltd(600109) and Guotai Junan Securities Co.Ltd(601211) securities respectively.
the construction of approved projects is accelerated, and urban rail transit construction is hot
With the restart of urban rail examination and approval, the upsurge of subway construction is rising again. Hangzhou, Chongqing, Guangzhou, Nanjing, Shijiazhuang, Urumqi and other cities are speeding up the construction of subway projects, and some previously approved projects have also started recently. Meanwhile, the later track construction plans of Xi’an, Xiamen, Wuhan and Xuzhou are being approved by the national development and Reform Commission, and some are expected to be passed in the near future.
the deadlock of performance compensation for Yinjiang shares is difficult to solve
As of 10 a.m. on August 21, although there were 3995 onlookers, the equity of Yinjiang shares was finally ignored, and the auction was announced. On August 20, the Alibaba auction platform “put on the shelf” an asset of 2781384 A-Shares of Yinjiang shares. The evaluation price and starting price were 296 million yuan and 277 million yuan respectively, and the registration threshold was 50 million yuan.
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Securities Times (special area)
central bank: the macro leverage ratio is stabilizing and does not engage in “flood irrigation”
On August 21, the State Council Information Office held a regular policy briefing of the State Council. Zhu Hexin, vice governor of the central bank, introduced that finance can better serve the real economy and effectively alleviate the difficulties and expensive financing of enterprises. In the next stage, the central bank will improve the foresight, flexibility and effectiveness of policies, and make every effort to do a good job in financial services to the real economy. On the one hand, we should strengthen overall planning and coordination, not only form policy synergy, but also prevent policy superposition. On the other hand, we should grasp the degree and maintain strategic concentration. We will control the general gate of money supply and maintain reasonable and sufficient liquidity, but we will never engage in “flood irrigation”.
ten year high growth has gradually become the back. The automobile industry has entered an era of steady growth
The 2018 semi annual report disclosed that there are 10 days to come to an end. At present, nearly 50 A-share companies in the automotive industry have announced their results. According to statistics, the net profit of most automobile industry companies has increased year-on-year. Most enterprises are cautiously optimistic about the industry prospect in the second half of 2018. Many auto industry companies believe that after years of sustained high growth, China’s auto industry has entered a period of steady growth.
environmental protection and production restriction promote the steel price to a new high, and the stock period deviation continues to widen
After a wave of price correction in March this year, Chinese iron and steel enterprises continued to record a profit peak of nearly 1000 yuan per ton. Since mid July, under the expectation of environmental protection and production restriction, the prices of black commodities represented by rebar have risen sharply, and the futures prices of thread, coke and other products have repeatedly reached new highs. At the same time, the performance of A-share related sectors has been depressed this year, and the deviation between related stocks and raw material futures prices is very obvious.
was asked by the Shanghai stock exchange that Huading shares cancelled the financing guarantee for the controlling shareholder
Recently, a proposal by Huading Co., Ltd. to provide guarantee for the controlling shareholder sanding Holding Group Co., Ltd. (hereinafter referred to as sanding holding) has attracted the attention of the outside world. In this regard, the Shanghai Stock Exchange issued an inquiry letter asking it to further explain the guarantee matters and clarify the reasons why sanding holdings sought the guarantee of listed companies this time. However, the company delayed the reply on the grounds that the problems involved needed to be implemented item by item, and finally cancelled the guarantee on August 21.
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Securities Daily (special area)
1146 interim reports indicate that the three industry blue chip varieties of the growth stock camp get together to lead the A-share
In 2018, the disclosure in the interim report has entered the peak period, the company’s operation has become the focus of the market, and the industry leading stocks with good performance are favored. According to the statistics of the market research center of Securities Daily, as of August 21, 1146 listed companies had published the performance reports for the first half of 2018, more than 90% of the companies had achieved profits, and more than 70% of the company’s net profits had increased year-on-year.
ease the financing difficulties of small and medium-sized enterprises
On August 20, the first meeting of the leading group of the State Council for promoting the development of small and medium-sized enterprises was held in Beijing. The meeting stressed that we should pay close attention to solving the outstanding problems in the development of small and medium-sized enterprises. The meeting proposed to increase financial support, accelerate institutional and technological innovation, improve incentive mechanisms, strengthen the transmission of monetary and credit policies, and alleviate the problem of difficult and expensive financing.
internet property insurance recovered in the first half of the year, with a year-on-year increase of nearly 40%
In the first half of this year, the Internet property insurance business reversed the continuous negative growth, showing a warming phenomenon compared with the same period last year. According to the statistics of China Insurance Industry Association, in the first half of this year, the Internet property insurance business achieved a cumulative premium income of 32.640 billion yuan, accounting for 5.42% of the cumulative original insurance premium income of property insurance companies in all channels in the first half of this year, an increase of 0.91 percentage points over the same period last year; The Internet property insurance business grew steadily. In the first half of the year, the Internet property insurance business increased by 37.29% year-on-year, 23.11 percentage points higher than the growth rate of all channel businesses of property insurance companies in the same period of last year.
LETV clarified the bottom of the 4 billion yuan debt and shouted Jia Yueting back to repay the debt
On the evening of August 21, LETV released the Clarification Announcement, saying that the debt transfer solutions disclosed in the announcement on the progress of debt settlement with unlisted systems, There is a risk that the effectiveness of this debt transfer will be changed due to the change of the overall debt solution of unlisted related parties or the debt problems of related party companies.
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