Mini Program: A-share pre-market news
Important News
1. Multiple measures to activate the M&A and restructuring market: Shanghai Stock Exchange once again held a symposium for securities firms to strive to open up the "last mile" of policy implementation
On October 10, the Shanghai Stock Exchange once again held a symposium for securities firms to publicize the latest M&A policy spirit on site, and to listen to opinions and suggestions on further invigorating the M&A market and opening up the "last mile" of policy implementation. Eight securities firms, including CITIC Securities, CICC, CITIC Construction Investment, Huatai Securities, Guotai Junan Securities, Guosen Securities, Orient Securities, and GF Securities, attended the meeting. Relevant person in charge of the Shanghai Stock Exchange expressed the hope that securities companies will truly assume the responsibilities of "gatekeepers", work in the same direction as regulatory authorities and the Shanghai Stock Exchange, actively explore and innovate boldly, support and serve listed companies in making full use of M&A policy tools, promote the implementation of a number of iconic and high-quality industrial M&A cases as soon as possible, and transform innovative policy measures into practical results for the high-quality development of listed companies. (Shanghai Stock Exchange)
2. Supervision: The performance evaluation of brokerage personnel shall not be directly linked to the number of new accounts opened or customer transaction volume.
Recently, the number of new accounts opened in the market and the scale of financing have increased significantly. In order to promote the long-term healthy and stable development of the capital market, effectively protect the legitimate rights and interests of small and medium-sized investors, and provide good services to newly opened investors. It is reported that the regulatory authorities issued a notice to securities firms and put forward certain requirements. Securities firms should effectively strengthen internal management and prevent employees from engaging in behaviors that harm the legitimate rights and interests of investors, such as accepting client entrustments privately and exceeding their authority. The performance appraisal of employees by securities firms must not be directly linked to the number of new accounts opened and the volume of customer transactions. Securities firms must combine market conditions and company realities, prudently determine risk management indicators such as risk tolerance and risk limits in accordance with laws and regulations, strictly abide by risk limit management requirements for business scale, and conduct stress tests in a timely manner to ensure that risks are measurable, controllable, and manageable. bear.
3. Two departments: reduce institutional transaction costs and optimize the investment and financing environment for the private economy
The Ministry of Justice and the National Development and Reform Commission issued a notice on soliciting public opinions on the (Draft Law of the People's Republic of China on Promoting Private Economy (Draft for Soliciting Opinions)). It is proposed to ensure fair competition. Efforts should be made to improve and perfect the institutional mechanisms for the fair participation of private economic organizations in market access, and to transform effective policies and practices in practice into legal systems. It is stipulated that in areas outside the negative list of market access, all types of economic organizations, including private economic organizations, can enter equally according to law; it is stipulated to implement the fair competition review system, regularly clear market access barriers, and prohibit the restriction or exclusion of private economic organizations in bidding and government procurement.
4. The draft law on promoting private economy is open to public comments
The Ministry of Justice and the National Development and Reform Commission published the "Law of the People's Republic of China on Promoting Private Economy (Draft for Comments)" on their portal websites and solicited public opinions. The draft mainly emphasizes the direction and principles for promoting the development of the private economy, ensuring the correct political direction of the development of the private economy, and clearly states that promoting the sustained, healthy and high-quality development of the private economy is a major policy that the country will adhere to in the long term. The state encourages, supports and guides the development of the private economy in accordance with the law. It emphasizes that all types of economic organizations, including private economic organizations, outside the negative list of market access shall enter the market on an equal basis in accordance with the law, implement the fair competition review system, standardize bidding, government procurement and other behaviors, and promote private economic organizations to participate in market competition fairly and use production factors equally. (NDRC)
5. Many banks issued announcements: the interest rates of existing mortgage loans were uniformly reduced to LPR-30BP
Industrial and Commercial Bank of China, Bank of Communications, China Merchants Bank, Shanghai Pudong Development Bank, China Zheshang Bank, Industrial Bank and other banks have released FAQs on the adjustment of existing housing interest rates. If the current mortgage interest rate is higher than LPR-30BP, it will be uniformly adjusted to LPR-30BP. Both the first and second homes will be adjusted. ICBC has decided to make a unified adjustment on October 25, and other banks will complete the adjustment before October 31. Those whose own mortgage interest rates are lower than LPR-30BP will not participate in this adjustment. (Interface)
6. China and the ten ASEAN countries announced the substantial conclusion of the China-ASEAN Free Trade Area 3.0 negotiations
The reporter learned from the Ministry of Commerce that during the 27th China-ASEAN Leaders' Meeting, China and the ten ASEAN countries announced the substantial conclusion of the China-ASEAN Free Trade Area 3.0 negotiations and issued a joint statement on the substantial conclusion of the China-ASEAN Free Trade Area 3.0 upgrade negotiations. The two sides will speed up the completion of legal review, domestic procedures and other work to promote the signing of the upgrade protocol in 2025. Both sides agreed that the substantial conclusion of the 3.0 version of the negotiations shows that both sides are determined to maintain a rules-based trading environment, and are committed to deepening economic integration and pragmatic cooperation in a complex global environment and accelerating economic recovery. (CCTV News)
7. Analysts: A substantial interest rate cut of more than 1% is needed in October 2024, supplemented by a fiscal policy of no less than 10 trillion
Ruan Jia, a professor of finance at the School of Economics and Management of Beijing Jiaotong University, published an article stating that a substantial interest rate cut of more than 1% is needed in October 2024, and fiscal policy support of no less than 10 trillion yuan is also needed. "Implementing a forceful interest rate cut" requires a substantial interest rate cut of more than 1% in 2024 to reverse the rise in real interest rates. Not only that, the monetary policy department also needs to promise to continue to cut interest rates every month before the CPI reaches 3.5%, even at the cost of negative interest rates. The fiscal policy of "expanding domestic demand" has an immediate effect. It is recommended that the central government immediately issue consumer vouchers of no less than 5 trillion yuan, with a time limit for consumption, focusing on subsidizing the poor, low-income people, and the unemployed. At the same time, the fiscal department will implement no less than 5 trillion yuan of consumption-based investment, including investment in affordable housing, maternity allowances, free education, universal basic medical insurance, and universal basic welfare pension. The introduction of different expansionary and contractionary policies for monetary and fiscal policies at different times is not "stimulus", but the "responsibility" of functional departments. (Yicai)
8. The total scale of the Science and Technology Innovation 50 Index products exceeded 200 billion yuan, an increase of more than 50% from the beginning of the year
The latest data shows that the total scale of the Science and Technology Innovation Board index products is nearly 300 billion yuan, and the number of tracking products is 85. Among them, the total scale of the Science and Technology Innovation 50 Index products has exceeded 200 billion yuan, an increase of more than 50% from the beginning of the year, ranking second among domestic stock indexes (second only to the CSI 300 Index). The scale of a single ETF product exceeds 100 billion yuan, and the number and scale of products tracking other Science and Technology Innovation Board themes and strategy indexes are also increasing. A product ecology of multi-channel investment on and off the market and mutual promotion of spot derivatives has gradually been formed.
9. The price of refined oil has risen for the eighth time this year. Filling up a tank of oil will cost 5.5 yuan more
The National Development and Reform Commission issued a notice that from 24:00 on October 10, domestic gasoline and diesel prices will be increased by 140 yuan and 135 yuan per ton respectively. Filling a 50-liter tank with 92-grade gasoline will cost 5.5 yuan more.
Stock News
1. Seres: Net profit in the first three quarters of 2024 is expected to be 3.5 billion to 4.1 billion yuan, turning losses into profits year-on-year
Seres announced that it expects to achieve operating revenue of 103 billion to 110 billion yuan in the first three quarters of 2024, up 518% to 559% year-on-year; it expects to achieve a net profit attributable to shareholders of the listed company of 3.5 billion to 4.1 billion yuan, turning losses into profits year-on-year; it expects to achieve a net profit attributable to shareholders of the listed company of 3.2 billion to 3.8 billion yuan after deducting non-recurring gains and losses. The company said that operating income and sales volume increased, the doubling plan was exceeded, the product structure was adjusted, the sales scale of high-value products increased, the gross profit margin increased year-on-year, and profitability improved.
2. Sanrenxing: Plans to make special investments in Honor terminals through a partnership
Sanrenxing announced that the company intends to subscribe to 51.5 million yuan in Wuhu Borui Cornerstone Equity Investment Partnership as a limited partner, accounting for 49.82% of the partnership's subscribed capital. Beijing Zhongxing Jucai Venture Capital Fund Partnership, a private equity fund managed by the company's wholly-owned subsidiary Beijing Zhongxing Private Equity Fund Management Partnership, intends to subscribe to 19.982 million yuan in the partnership as a limited partner, accounting for 19.33% of the partnership's subscribed capital. This investment is a special investment in Honor terminals, with funds coming from its own funds and raised funds. Through this investment, the company can achieve brand, market and other aspects of improvement and expansion. With the help of Honor's brand effect and market channels, the company's business customer base will be enriched, and brand awareness and market competitiveness will be enhanced.
3. SF Holding: Plans to implement a one-time special cash dividend, with an estimated total dividend of approximately RMB 4.8 billion
SF Holding announced that the company has initiated the relevant work of publicly issuing overseas listed foreign shares (H shares) and listing on the main board of the Hong Kong Stock Exchange Limited with the approval of the first extraordinary general meeting of shareholders in 2023. The company intends to implement a one-time special cash dividend to all shareholders (i.e. A-share shareholders) before this issuance and listing. The specific plan is: based on the total share capital on the equity registration date of the implementation of the special dividend plan for shareholders minus the number of shares in the company's repurchase special account, a cash dividend of RMB 10 (including tax) per 10 shares will be distributed to all shareholders. Based on the preliminary calculation of the company's total share capital after deducting the repurchase special account as of now, it is expected that the total amount of special dividends for shareholders will be approximately RMB 4.8 billion. The specific total amount of profit distribution shall be subject to the company's equity distribution implementation announcement.
4. GAC Group: A wholly-owned subsidiary plans to invest US$27 million in Pony.ai
GAC Group announced that the 70th meeting of the 6th Board of Directors reviewed and approved a number of proposals. In order to strengthen the coordinated layout of the industrial chain in the field of key components such as intelligent wire-controlled chassis, the company's wholly-owned subsidiary GAC Auto Parts Co., Ltd. intends to increase the capital of Chenzhi Technology by no more than 550 million yuan and acquire a 30% stake; in order to deepen business collaboration and promote the company's development in the field of autonomous driving, it is agreed that the company's wholly-owned subsidiary GAC Capital Co., Ltd. will invest 27 million US dollars in Pony.ai.
5. Zhizheng Shares: Plans to acquire assets mainly engaged in the semiconductor packaging materials industry, stock suspension
Zhizheng shares announced that the company is planning asset replacement, issuing shares and paying cash to purchase assets and raise supporting funds. The assets to be placed are mainly engaged in the research and development, production and sales of semiconductor packaging materials, and the assets to be disposed of are 100% equity of the company's subsidiary Shanghai Zhizheng New Materials Co., Ltd. This transaction is expected to constitute a major asset reorganization and a related transaction, and will not lead to a change in the company's actual controller. The company's stock will be suspended from October 11, 2024, and the suspension is expected to last no more than 10 trading days.
6. Hongta Securities: Net profit in the first three quarters of 2024 is expected to be 652 million yuan, a year-on-year increase of 203.85%
Hongta Securities announced that it expects to achieve a net profit of 652 million yuan attributable to the parent company's owners in the first three quarters of 2024, a year-on-year increase of 203.85%. The company said that the performance growth was mainly due to scientific and effective asset allocation and making up for weak links, which achieved significant results.
7. Yuegui Shares: Net profit in the first three quarters is expected to be 214 million to 236 million yuan, a year-on-year increase of 340.96% to 386.3%
Yuegui shares announced in the evening that it expects to achieve a net profit of 214 million yuan to 236 million yuan attributable to shareholders of the listed company in the first three quarters, a year-on-year increase of 340.96% to 386.3%. During the reporting period, the company promoted the significant results of increasing production, reducing costs and increasing efficiency of syrup paper products through all-round and refined strengthening of management and control measures, and the syrup paper sector as a whole turned losses into profits; the company continued to deepen customer market resources and continuously implemented cost reduction and efficiency improvement measures, reducing the production cost of ore products, and the sales gross profit of the ore sector was improved.
8. Yonghui Superstores: The purchaser has breached the contract as it has not received the fourth installment of equity transfer payment
Yonghui Supermarket announced that according to the (Supplementary Agreement to the Transfer Agreement) signed between the company and Dalian Yujin, the fourth phase of the equity transfer payment of 300 million yuan should be paid before September 30, 2024. As of the date of disclosure of the announcement, the company has not received the transfer payment, and the purchaser Dalian Yujin has not fulfilled its payment obligations as agreed, which constitutes a breach of contract. The company has issued a notice of accelerated expiration to Dalian Yujin, Wang Jianlin, Sun Xishuang, and Dalian Yifang Group Co., Ltd., and plans to file an arbitration with the Shanghai International Economic and Trade Arbitration Commission. There is a risk that the above equity transfer agreement cannot be performed in a timely manner.
9. Emma Technology: Actual controller, chairman and general manager Zhang Jian was detained
Emma Technology announced that the company recently received a notice from the family of Zhang Jian, the actual controller, chairman and general manager, that they received a notice issued by the Chengde Municipal Supervisory Committee on October 9 that Zhang Jian was detained and investigated. As of the date of the announcement, the company has not received any notice from the relevant authorities, nor has it been asked to assist in the investigation.
10. Ren Yingxiang, director, deputy general manager and core technical staff of Shanwaishan, was punished for drunk driving
On the evening of October 10, Shanwaishan issued an announcement stating that the company received a (criminal judgment) issued by the People's Court of Shapingba District, Chongqing on October 10, and learned that the company's director, deputy general manager, and core technical personnel Ren Yingxiang was convicted of dangerous driving and sentenced to two months of detention, three months of probation, and a fine of 6,000 yuan. Shanwaishan stated that as of now, the company's daily operations are normal. Ren Yingxiang, the company's director, deputy general manager, and core technical personnel, sincerely apologized to the majority of investors for the adverse effects of this incident. In the future, the company will further strengthen the legal awareness of directors, supervisors, senior management and all employees, urge all company personnel to strengthen self-discipline in work and life, strictly abide by national laws and regulations and the company's various rules and regulations, and earnestly perform the civic obligations of abiding by laws and regulations.
11. AVIC Electro-Mechanical Test: This restructuring has not yet been completed, and the company is actively promoting the relevant work of transaction implementation as planned
AVIC Electro-Mechanical Test Co., Ltd. issued an unusual movement announcement, stating that the company's stock trading price has a cumulative deviation of more than 30% from the closing price for three consecutive trading days, which is an abnormal stock trading fluctuation. On September 30, 2024, the company disclosed (Announcement on the Implementation Progress of Issuing Shares to Purchase Assets by AVIC Electro-Mechanical Test Co., Ltd.). The company intends to issue shares to Aviation Industry Corporation of China to purchase its 100% equity in Chengdu Aircraft Industry (Group) Co., Ltd., and on August 5, 2024, it obtained the approval of the China Securities Regulatory Commission for the registration of this reorganization. As of now, this reorganization has not yet been completed, and the company is actively promoting the relevant work of the transaction implementation as planned, including but not limited to preparing the industrial and commercial change registration/transfer information of 100% equity of Chengdu Aircraft Industry (Group) Co., Ltd., share issuance information, etc.
12. ST Solectron: The company's A shares and B shares will be delisted on October 11, 2024, and will not enter the delisting consolidation period
ST Xudian announced that the company received a decision from the Shenzhen Stock Exchange on September 20, 2024 regarding the termination of listing of Dongxu Optoelectronics Technology Co., Ltd.'s shares. The company's A shares and B shares will be delisted on October 11, 2024, and will not enter the delisting consolidation period. The company has hired Southwest Securities Co., Ltd. as the lead underwriter to provide it with share transfer services. Investors are requested to continue to pay attention to relevant information and complete the share confirmation procedures as required.
Article forwarded from: Jinshi Data