daily selection
China government website: the State Council issued the opinions on the implementation of the key work division of the government work report: the people’s Bank of China is required to take the lead, and the national development and Reform Commission, the Ministry of justice, the Ministry of Finance, the CBRC, the CSRC and the State Administration of foreign exchange are responsible according to the division of responsibilities. The relevant work of raising the financial stability guarantee fund will be completed by the end of September and will continue to be promoted during the year. [details]
first finance and Economics: on March 25, the person in charge of relevant departments of the CBRC said that the financial stability guarantee fund is an important risk disposal measure for systemic hidden dangers and plays a routine function. The financial stability guarantee fund is taken from and used in the market. In terms of fund charges, different industries and different subjects will be differentiated to implement differentiated charges, so as to better balance the risk, return and responsibility. [details]
China Securities Association: on March 24, 2022, the China Securities Association held a regular meeting of chief economists of the securities fund industry in the first quarter of 2022, which studied and implemented the spirit of the national “two sessions” and the special meeting of the financial committee of the State Council, and conducted in-depth analysis and Discussion on the impact of stable macroeconomic growth and overseas market fluctuations on China’s capital market. The experts suggested that the real estate policy should be adjusted appropriately according to the overall requirements of stable growth, strengthen supply side reform, stabilize real estate investment and expectations, and promote the virtuous circle and healthy development of the real estate industry. Give play to the leading role of manufacturing industry in economic development, stabilize the supply chain of manufacturing industry, and increase support for digital development and the implementation of “double carbon” policy. [details]
financial Associated Press: Lin nianxiu, deputy director of the national development and Reform Commission, said at the forum of the 8th China electric vehicle hundred people’s Congress that while promoting the accelerated development and growth of the new energy vehicle industry, we should pay more attention to the overall improvement of quality and brand. Adhering to the national chess game and focusing on optimizing the industrial layout is the objective requirement for the high-quality development of the new energy vehicle industry. On the basis of respecting the market law, we will strengthen window guidance according to law, strengthen overall planning, optimize the implementation of industrial layout and support policies. [details]
macro economy
National Bureau of Statistics: 1-february, industrial enterprises above Designated Size achieved a total profit of 115756 billion yuan, an increase of 5.0% year-on-year. From January to February, among industrial enterprises above Designated Size, state-owned holding enterprises achieved a total profit of 415.78 billion yuan, an increase of 16.7% year-on-year; Joint stock enterprises realized a total profit of 838.57 billion yuan, an increase of 9.4%; The total profits of foreign-invested enterprises and enterprises invested by Hong Kong, Macao and Taiwan reached 289.79 billion yuan, down 7.2%; The total profit of private enterprises was 329.13 billion yuan, down 1.7%. [details]
CSRC: in order to implement the decision and deployment of the CPC Central Committee and the State Council on supporting the development of private enterprises and the work requirements of the government work report on improving the bond financing support mechanism of private enterprises, the CSRC plans to launch a series of policies and measures in the near future to further broaden the bond financing channels of private enterprises and enhance the quality and efficiency of serving the development of private economy. [details]
Securities Times: on the evening of March 26, the Shanghai Stock Exchange issued the notice on Exemption of relevant fees in 2022, which includes: exemption of initial listing fees, annual listing fees, online voting service fees of general meeting of shareholders and CA certificate service fees of stock and incremental listed companies in Shanghai Stock Exchange in 2022; The fees for cloud desktop, cloud disk and VPN products related to the industry cloud in 2022 will be exempted; Reduce or reduce the special line and cabinet fees of the data center; For those who have collected relevant fees in the early stage, the Shanghai Stock Exchange and its subsidiaries will arrange refunds in an orderly manner. [details]
CCTV news client: reporters learned from China Southern Power Grid on the 26th that during the 14th Five Year Plan period, China Southern Power Grid will invest 10 billion yuan to vigorously promote the construction of charging facilities. It is expected that by the end of next year, it will first realize the full coverage of charging piles in villages and towns in Guangdong, Guangxi, Yunnan, Guizhou and Hainan. [details]
industry trends
Economic Daily: according to the data of the Ministry of agriculture and rural areas, as of the third week of March, the average price of pigs in China has decreased for 15 consecutive weeks. From the highest point of 38.71 yuan / kg at the end of October 2019, the national pig price decreased by 67.4% to 12.62 yuan / kg in the third week of March this year. According to industry monitoring statistics, at present, due to the double squeeze of falling pig prices and rising production costs, a 120 kg pig is sold, and the average loss of self breeding farmers is about 300 yuan. Not only small and medium-sized households are losing money, but leading enterprises are also struggling. [details]
brokerage China: Maotai liquor prices have fallen across the board in the past two days! According to the data from the two platforms of “Buer sauce liquor” and “today’s liquor price”, the prices of all kinds of Maotai liquor fell sharply on March 25 and 26. In 22 years, it took less than half a year to fly from 3000 + to 2600. In the past week, the decline reached 200 yuan / bottle, and 110 yuan / bottle in the last two days; The original box has fallen by 180 yuan / bottle in the last two days, and the price has reached 2750 yuan / bottle; Other Chinese Zodiac wine and vintage wine all fell sharply, among which the 15th vintage wine fell by 400 yuan / bottle in two days. [details]
Shanghai Securities News: reporters learned from CNNC on the 25th that the second unit of China’s independent third-generation nuclear power “hualong-1” demonstration project – Fuqing nuclear power unit 6 of CNNC has officially met the commercial operation conditions. So far, the “hualong-1” demonstration project has been fully completed and put into operation. [details]
China Securities News: on March 25, “photovoltaic Mao” Longi Green Energy Technology Co.Ltd(601012) again announced an increase in the price of monocrystalline silicon wafer, with an increase of 1.8% – 1.9%. Since this year, the company has raised the price of monocrystalline silicon for five consecutive times, with a maximum increase of about 9%. Since the beginning of this year, the photovoltaic industry has been “not light in the off-season”, and the price of upstream silicon materials has increased for 10 consecutive weeks. In the first two months, the installed capacity of moonlight Volt has increased by more than twice year-on-year, the market boom has continued to improve, and the photovoltaic industry has reproduced the investment boom. [details]
stock market focus
Securities Times: Citic Securities Company Limited(600030) research report believes that A-Shares have returned from emotion driven to fundamentals driven and will enter a key period of policy development; In the past two weeks, the epidemic has had a great impact on the economy. The necessity and urgency of the steady growth policy have increased rapidly. A number of policy combinations will be gradually launched and form a joint force; In the second quarter, the economy will gradually repair, and A-Shares will gradually stabilize and enter the medium-term upward channel.
In terms of configuration, it is suggested to grasp the key window of the secondary force of the steady growth policy, closely follow the relevant main line, focus on the balanced layout of “two low positions”, and meet the resonant upward trend of value and growth in the second quarter. [details]
China Fund News: since this year, the market volatility has intensified, and the net value of many private placements has fallen continuously. How to face the fluctuation of stock price has become a difficult problem for major private placements. There are the “position reduction” school represented by Dan bin and the “position increase” school represented by Jinglin assets. In this wave of decline, many private equity positions have been reduced or even cleared. The most concerned by the market is undoubtedly Dongfang harbor. After falling into the rumor of short position, Dan bin, chairman of the company, revealed that the position of Dongfang harbor is relatively low, about 10%. Not only Dan bin, according to the reporter, a number of private placement have also done the operation of reducing positions. Some, like Dan bin, think that risk control comes first. Of course, there are also many private equity companies that stick to or even increase their positions against the market. Gao Yuncheng, general manager of Jinglin assets, recently revealed that they did not panic to sell stocks in the crash, but increased their positions in promising enterprises at almost the lowest point. [details]
first finance and Economics: recently, Zhang Xiaoyan, vice president of Wudaokou School of finance of Tsinghua University, said in an interview with first finance and economics that the attitude of foreign investors towards the Chinese market should be observed from a longer-term perspective. “The purpose of China’s opening-up policy is to further promote the safe entry of foreign capital, which is also expected to help China avoid risks.” According to the data, as of December 2021, the market value of foreign capital holdings in China’s A-share market was close to 3 trillion yuan, an increase of 2.75 times over 2018. [details]
China Fund News: data from Global Fund Research Institute Copley fund research showed that as of the end of February, the A-share position of global emerging market funds had quietly reached a new high. This shows that China is still attractive to emerging market funds in 2022. At the same time, the data also showed that the interest of overseas funds in zhonggai Internet company rebounded. However, under the high volatility market, the position of hedging positions is also increasing. [details]
subscription of new shares: Puyuan Jingdian, Guanlong energy saving
new bond subscription: none
IPO: zhaoxun media
new bond listing: none
company news
China Shenhua Energy Company Limited(601088) : net profit in 2021 increased by 28.3% year-on-year, and it is proposed to pay 25.4 yuan for 10
Dong-E-E-Jiao Co.Ltd(000423) : net profit in 2021 increased by 917.43% year-on-year, and it is proposed to pay 6.5 yuan in 10
Xiamen Faratronic Co.Ltd(600563) : net profit in 2021 increased by 49.51% year-on-year, and it is proposed to send RMB 10 to RMB 16
Beijing Zhong Ke San Huan High-Tech Co.Ltd(000970) : net profit in 2021 increased by 208.44% year-on-year, and it is proposed to pay 0.8 yuan for 10
Guangdong Hybribio Biotech Co.Ltd(300639) : net profit in 2021 increased by 134.97% year-on-year, and it is proposed to transfer 10 to 5 and send 3.5 yuan
Jiangxi Copper Company Limited(600362) : net profit in 2021 increased by 142.87% year-on-year, and it is proposed to pay 5 yuan for 10
China Petroleum & Chemical Corporation(600028) : net profit in 2021 increased by 114% year-on-year
Jiangsu Yabang Dyestuff Co.Ltd(603188) : company does not produce raw materials of covid-19 virus treatment drugs such as trichlorotoluene and 5-chloro-o-toluidine
Zhejiang Jingxin Pharmaceutical Co.Ltd(002020) : did not cooperate with yanye Yiyi pharmaceutical and Pfizer pharmaceutical on covid-19 drugs
Tongwei Co.Ltd(600438) : estimated net profit in the first quarter increased by 478% – 514% year-on-year
Proya Cosmetics Co.Ltd(603605) : estimated net profit in the first quarter increased by 35% – 45% year-on-year
Henan Liliang Diamond Co.Ltd(301071) : estimated net profit in the first quarter increased by 128% – 152% year-on-year
Longyan Zhuoyue New Energy Co.Ltd(688196) : it is estimated that the net profit in the first quarter will increase by about 65.21% year-on-year
Guangdong Shaoneng Group Co.Ltd(000601) : sign framework agreement on cooperative development of new energy projects with Dashun company
data list
Shanghai and Shenzhen stock markets : on March 25, the three major A-share indexes fluctuated and fell. As of the closing, the Shanghai index fell 1.17%, the Shenzhen composite index fell 1.89% and the gem index fell 2.52%. On the disk, Internet e-commerce, planting and forestry, small household appliances, aquaculture, pork, cloud games, metauniverse and other sectors led the increase; Hjt battery, cro concept, covid-19 detection, diamond cultivation, airport shipping, covid-19 treatment and other sectors led the decline.
Hong Kong stocks: Hong Kong Hang Seng Index fell 2.47% and Hang Seng technology index fell 4.98%. Internet technology stocks fell, the beep dropped by over 10%, Kwai fell by over 8%, the US group fell by over 8%, and Alibaba and Baidu fell by over 5%.
Shanghai Shenzhen Hong Kong stock connect : on March 25, the North sold a net 3.117 billion yuan of funds, including 776 million yuan of Shanghai Stock connect and 2.341 billion yuan of Shenzhen Stock connect. Among the top ten traded stocks, Zijin Mining Group Company Limited(601899) , Byd Company Limited(002594) , Wuxi Apptec Co.Ltd(603259) purchases ranked among the top three, with net purchases of 187 million yuan, 159 million yuan and 155 million yuan respectively.
dragon and tiger list: on March 25, the largest net capital inflow was China Meheco Group Co.Ltd(600056) , which was 325 million yuan. Data show that the stock closed at the daily limit, with a turnover rate of 16.65% throughout the day. The net flow of funds into the top CITIC Xi’an Zhuque street, with a net purchase of 351 million yuan. A total of 33 stocks were involved in the institutional participation in the dragon and tiger list, of which 13 were net bought by the institution, and Jinghua Pharmaceutical Group Co.Ltd(002349) was the most bought, with a total of 125 million yuan.
In addition, 20 shares were sold by institutions, and Zhejiang Jingxin Pharmaceutical Co.Ltd(002020) was sold the most, with a net sales of 912109 million yuan in three days.
margin trading : as of March 24, the balance of Shanghai and Shenzhen financial markets was 1684925 billion yuan, a decrease of 559 million yuan compared with the previous trading day. Among them, the financing balance was 1591278 billion yuan, a decrease of 462 million yuan compared with the previous trading day; The balance of securities lending was 93.647 billion yuan, a decrease of 97 million yuan compared with the previous trading day.
Shibor: Shibor reported 2.0010% overnight, down 0.4 basis points; Shibor reported 2.2070% in seven days, up 15.1 basis points; Shibor reported 2.3690% in three months, unchanged from the previous day Foreign exchange
On March 25, the central parity rate of RMB was reported at 6.3739, down 99 points, and the central parity rate of the previous trading day was reported at 6.364 The onshore RMB closed at 6.3655 against the US dollar at 16:30 on March 25, up 42 points from the previous trading day
property market observation
brokerage China: first heard that the developer’s capital chain of the future house he bought was out of order, and then found that the new house he had been looking forward to for a long time had stopped working. Then he learned that the pre-sale funds for house purchase had been transferred from the account by the bank. This is what the owner of jiazhaoye Yueban mountain, Hangcheng street, Bao’an District, Shenzhen is going through. The other two protagonists of the incident are jiazhaoye and China Minsheng Banking Corp.Ltd(600016) Shenzhen Branch. Fortunately, the relevant government departments of Bao’an District have been active for many days. In addition, they have opened a “stability maintenance account” under the direct supervision of the government in other banks to help the owners recover some of the pre-sale funds transferred in violation of regulations and urge all parties to “guarantee the delivery of buildings”. [details]
China Securities Network: Wuhan local bank will implement the interest rate of the first house of the newly signed mortgage loan according to LPR + 60BP, i.e. 5.2% from March 25. The interest rate of the second house is implemented according to LPR + 80bp, i.e. 5.4%. In this regard, the local ICBC responded that the news is true. Whether it is a first-hand house or a second-hand house, the first house interest rate is implemented at a minimum of 5.2%. However, commercial banks can make upward adjustment to varying degrees according to the qualification of customers. [details]
Securities Daily: recently, a number of intermediaries told reporters that the mortgage interest rates of many banks in Zhejiang Province have been lowered. Since April last year, mortgage interest rates have risen; After this year, the mortgage interest rate has been lowered for many times, and there is still the possibility of further downward exploration. [details]
International Information
chinanews: local time on the 26th, a document released by the White House showed that US President Biden would propose a new minimum tax on billionaires when announcing the 2023 budget on the 28th. According to the document, Biden’s “billionaire minimum income tax” plan will impose a minimum tax rate of 20% on families with assets of more than $100 million. The plan is mainly aimed at more than 700 billionaires in the United States. [details]
chinanews: US President Biden, who is visiting Brussels, held a meeting with European Commission President von delaine on the 25th. The two sides announced the establishment of a joint working group on energy security. The United States promised to export at least 15 billion cubic meters of liquefied natural gas to the EU this year. [details]
CCTV news client: since the European energy crisis, energy prices in Germany have been high. Under the influence of the Ukrainian crisis, the prices of related products continued to rise sharply and hit new highs, which had an impact on people’s life and all areas of society. The German federal government has recently introduced a series of energy subsidy plans, and also intends to accelerate the energy transformation. [details]
futures market
China Futures: China commodity futures closed up or down, with Shanghai nickel up more than 12%, soda ash up more than 5%, asphalt and glass up more than 4%, coke, iron ore, coking coal and ferrosilicon up more than 3%, manganese silicon, hot coil and apple up more than 1%. Pulp fell more than 4%, stainless steel, soybean II, soybean oil and urea fell more than 2%.
International Futures: crude oil futures closed higher on Friday. The attack on Saudi Arabia’s oil facilities has once again raised concerns about global crude oil supply. Crude oil futures rose nearly 12% this week. According to the most active contract, WTI crude oil rose 10.5% this week. European Intercontinental Exchange (135.24, 0.15, 0.11%) (ice) may Brent crude oil futures rose $1.62, or 1.4%, to close at $120.65 a barrel. Brent crude oil rose nearly 12% this week. Gold futures closed lower on Friday, but rose this week. On Friday, the price of gold futures for April delivery on the New York Mercantile Exchange fell $8, or 0.4%, to $195420 an ounce. According to the calculation of the most active contract, the price of gold futures still rose by 1.3% this week
overseas index
US stock market : as of the close, the Dow Jones index rose 0.44% to 3486124 points; The S & P 500 index rose 0.51% to 454304; The Nasdaq composite index, dominated by technology stocks, fell 0.16% to 1416930. The three major indexes rose for two consecutive weeks, with the Dow up 0.31%, the S & P up 1.79% and the NASDAQ up 1.98%.
European stock market: European time on Friday, the three major stock indexes of European stocks fluctuated on the same day. As of the closing, the financial times average price index of 100 stocks in London stock market closed at 748335, up 15.97 points or 0.21% from the previous trading day. In terms of the other two major stock indexes in Europe, the French Paris Stock Market CAC40 index closed at 655368, down 2.09 points or 0.03% from the previous trading day; Germany’s Frankfurt DAX index closed at 1430576, up 31.97 points or 0.22% from the previous trading day.
Asia Pacific Stock Market: Nikkei 225 index closed up 0.14% to 2814984 points. The Korea composite index rose 0.01% to 272998.
