China Securities Journal
Good exposure after two boards! This water company participated in Huiyuan beverage reorganization and has paid 300 million yuan.
A water company’s share price is linked to two boards, because it involves the plan of "Huiyuan Juice" reorganization and listing!
According to the data of CSI Taurus, on June 29th and 30th, the share price of (), which is mainly engaged in sewage treatment, tap water supply and environmental protection engineering technical services, closed at the daily limit for two consecutive days, because there was market news that "the company may inject Huiyuan juice through restructuring in the future".
As early as May 17, China National Water announced that the company signed the Project Cooperation Agreement with Shanghai Wensheng Asset Management Co., Ltd. (hereinafter referred to as Wensheng Investment) on April 21, hoping to jointly invest in the restructured shares of XX Company (at that time, it was referred to as "the underlying assets" because the project was in a confidential state). On April 22nd, the company paid a performance bond of 300 million yuan to Wensheng Investment.
Cinda Securities IPO applied for a meeting, and the second AMC listed brokerage company was ready to appear.
According to the news of the CSRC on June 30th, the IPO application of Cinda Securities Co., Ltd. was approved.
Recently, a number of brokers are actively promoting the listing plan. The IPO application materials submitted by Open Source Securities and Warburg Securities were accepted by the CSRC on June 23rd. In addition, Huajin Securities, Shengang Securities, Hualong Securities, CDB Securities, donghai securities and many other securities firms are actively promoting their listing plans, and are currently in IPO counseling and filing.
Faithful wife! How will A-share investment be laid out in the second half of the year? A number of bank wealth management companies elaborated strategies.
The first half of 2022 officially came to an end. Recently, the steady growth policy has gradually exerted its strength, and the A-share market has entered a rebound channel, with many sectors showing eye-catching performance.
How to get a shares in the second half of the year? A number of bank wealth management companies told the CSI Taurus reporter that they are firmly optimistic about the equity market. It is expected that the A-share market will fluctuate upwards and will steadily increase the allocation of equity assets.
On the whole, a number of bank wealth management companies will focus on the two directions of economic recovery and high economic growth, and are optimistic about new energy and electric vehicles, "new and old" infrastructure chains, post-epidemic travel, consumption and other sectors.
By the end of March 2022, the bank wealth management market had reached 28.37 trillion yuan, slightly lower than the 29 trillion yuan at the end of 2021. However, with the recent recovery of the capital market, the scale of the bank wealth management market is expected to enter a rebound channel.
Heavy! The the State Council executive meeting deployed to support the construction of major projects and issued financial bonds to raise 300 billion yuan.
According to CCTV’s news on the 30th, the the State Council executive meeting held on the 29th decided to adopt policies and development financial instruments to support major projects, so as to expand effective investment and promote employment and consumption.
The meeting decided to use policy and development financial instruments to raise 300 billion yuan by issuing financial bonds, which will be used to supplement the capital of major projects or bridge the capital of special debt projects, and the central government will give appropriate interest subsidies.
Shanghai Securities News
Luoyang Molybdenum Industry plans to invest $1.8 billion to develop KFM copper-cobalt mine.
As a world-renowned manufacturer of rare metals, () once again invested heavily in developing overseas copper mines. On the evening of June 30th, Luoyang Molybdenum announced that it planned to invest 1.826 billion US dollars to build the KFM development project (oxide ore and mixed ore) in Congo (DRC) (Phase I). According to the announcement, among the investment in this project, the engineering cost is 1.427 billion US dollars, other engineering construction costs are 161 million US dollars, and the reserve cost is 238 million US dollars. The main products of the project are cathode copper, crude cobalt oxide for hydrogen production and a small amount of copper cobalt sulfide concentrate.
According to the announcement, the company indirectly held 95% interest in KFM copper-cobalt mine in Congo (DRC). It is understood that KFM copper-cobalt mine is one of the largest and highest-grade undeveloped copper-cobalt mine projects in the world, and it is 33 kilometers away from the existing TFM copper-cobalt mine in the company, which has synergistic effects and unique advantages in development and operation.
Abundant funds In June, the average daily turnover of A shares returned to one trillion yuan.
1.1 trillion yuan-the average daily turnover of A shares in June returned to more than 1 trillion yuan. As an important indicator to observe market activity and capital adequacy, the average daily turnover of over one trillion yuan was once regarded as the "normal state" of the market. From the second half of last year to January this year, the average daily turnover of A shares exceeded one trillion yuan for seven consecutive months, but it fell below one trillion yuan in February, April and May this year. Nowadays, with the deepening of the market, the daily average turnover of Shanghai and Shenzhen stock markets has returned to one trillion yuan, and the "cooperation" between funds and the market and the change of flow direction will receive more attention.
Transformation, focusing on specialization, guiding insurance industry to explore new ways in reform
Insurance is not easy to sell, which is a big challenge for insurance companies. At present, for consumers, insurance is important but not urgent; The increase in sales difficulty further hindered the insurance signing.
□ At this stage, the number of marketing team members has dropped significantly. The proposal and establishment of the insurance sales classification system is a financial innovation activity that regulates the professional reform of the industry.
□ In recent years, the insurance protection function has been paid more and more attention, and industries such as pension, health and medical care are exporting policy dividends to the insurance industry. The insurance industry should make great efforts in product development and insurance sales, and turn the policy dividend into premium growth.
A-shares in the past six months: showing toughness and highlighting attractiveness
On the last trading day of June, the three major A-share indexes all closed on the positive line, which ended the first half of the year. Looking back on the market in the first half of the year, faced with the environment of internal and external uncertainties, A shares were at a loss but quickly regained their confidence, showing a "V"-shaped reversal trend as a whole, showing strong resilience against the background of the general decline of overseas stock markets, and highlighting the increasing attraction of China assets.
As of yesterday’s close, the Shanghai Composite Index stood at 3,398.62 points, down 6.63% in the first half of the year. However, from the point of rebound at the end of April, the Shanghai Composite Index has risen by more than 17% in the past two months, and the Growth Enterprise Market Index has rebounded by more than 30%. Compared with the weakness of overseas stock markets in the same period, the strong performance of A shares can be called the "lone brave" of global stock markets.
Securities Times
Manufacturing PMI returns to the line of prosperity and decline, and the signal of comprehensive economic recovery is enhanced
On June 30th, the Service Industry Research Center of the National Bureau of Statistics and China Federation of Logistics and Purchasing released the Purchasing Managers Index (PMI) of China. The data shows that both the manufacturing PMI and the non-manufacturing business activity index returned to the line of prosperity and decline in June. According to the analysis, China’s economy bottomed out in June and the recovery trend was basically established. However, we also need to see that the proportion of enterprises that reflect insufficient market demand in the manufacturing industry is still close to half, and the fundamentals of economic recovery still need to be further consolidated. It is necessary to further expand effective demand, implement the supply and price stability of important raw materials and basic products, consolidate the momentum of economic recovery, and promote the linkage recovery of industrial chains.
What signal does the medium and long-term deposit interest rate "upside down" release?
Recently, commercial banks, including Industrial and Commercial Bank of China, China Construction Bank and China Merchants Bank, have seen the phenomenon that the interest rates of 3-year deposits are almost the same as those of 5-year deposits, and some banks even have "upside down" deposit rates. For example, the three-year and five-year fixed deposit rates of China Construction Bank are both 2.75%, and the three-year fixed deposit can rise to 3.15% when it reaches 50,000 yuan; The highest interest rate of China Bank is 3.15% for 3-year time deposits and 2.75% for 5-year time deposits.
Generally speaking, banks gain income through the business mode of "borrowing short and putting long", and the premium of deposit term is also the cost that banks pay to ensure the term conversion function. Therefore, banks with strong liquidity management ability are usually willing to bear a smaller deposit term premium.
A dismissal leads to a break! * the contradiction between ST changfang and its subsidiaries is open.
On June 26th, () held a meeting of the board of directors to consider the Proposal on Removing Executive Directors and Supervisors of Holding Subsidiaries and Appointing New Executive Directors and Supervisors, which was opposed by two directors, but was finally passed by a vote of 5∶2.
According to the above proposal, *ST Changfang will remove Li Dichu, executive director and Chen Jing, supervisor of its subsidiary, Changfang Group Kangmingsheng (Shenzhen) Technology Co., Ltd. (hereinafter referred to as "Kangmingsheng"). It should be pointed out that Li Dichu is the founder of Kang Mingsheng. In 2015 and 2017, *ST Changfang acquired the equity of Kang Mingsheng from the original shareholders of Li Di Elementary Kang Mingsheng twice. By the end of 2018, *ST Changfang’s shareholding in Kang Mingsheng was 99.96%.
The high level of commodities falls back, and the downstream cost pressure slows down.
Although the bulk market has rebounded as a whole this week, compared with the previous highs, many non-ferrous, black and chemical commodities still recorded a decline of about 20%. Analysts believe that the international economic recession is expected to increase in the second half of the year, and commodities may face systemic downside risks. With the strong slowdown of upstream raw material costs, domestic industrial manufacturing enterprises are expected to usher in profit improvement.
Commodities are now falling overall.
At 24: 00 on June 28, domestic refined oil prices started to decrease, which is the second downward adjustment of refined oil prices this year, and has experienced 10 rounds of upward adjustment before this year.
Securities daily
Improving the Entry Threshold and Giving Full Play to the Positive Value; Promoting the Initiative of Self-discipline Development in Digital Collection Industry
Since the second half of last year, digital collections have sprung up and become a new vane of the cultural and creative industries. However, behind the prosperity, some companies lack awareness of risk control and speculate on the price of digital collections, causing local chaos.
On June 30th, under the leadership of China Cultural Industry Association, nearly 30 institutions jointly launched the "Self-discipline Development Initiative of Digital Collection Industry" (hereinafter referred to as the "Initiative"). Opposing speculation and improving access have become the core consensus for the high-quality development of the industry.
The "Initiative" consists of 14 articles. The specific contents include that the platform should have corresponding qualifications according to law, ensure the safety and controllability of blockchain technology, adhere to the real-name registration system, strengthen the capacity building of intellectual property protection, resolutely resist the prevention of financialization and malicious speculation, and advocate rational consumption.
It is reported that this is the most extensive self-regulatory development standard initiative in the digital collection industry. Participants include professional organizations and associations in the cultural tourism industry, cultural central enterprises, IP institutions and Internet technology companies such as Ant, Tencent, Baidu and JD.COM.
Substantial progress has been made in the research and development of domestic operating systems. "Open Kirin" accelerates the construction of open source ecology
According to CCTV news on June 30th, recently, China’s first desktop operating system developer platform "openKylin" was officially released. The platform will create an open source desktop operating system with independent innovation technology.
On June 30th, Wu Hequan, an academician of China Academy of Engineering, said in an interview with the reporter: "The’ Open Kirin’ platform is a domestic software system platform jointly built by many units in the industry, which is conducive to focusing on all forces and accelerating the commercialization process of domestic operating systems. Open source method can encourage more enterprises and developers to participate and improve directly, which is a good start, is conducive to promoting the enthusiasm of industrial chain enterprises, further promoting the scale of domestic operating systems and industrial innovation and development, and is an important path for the high-quality development of China’s software industry.
In June, the manufacturing PMI returned to the expansion range to promote economic growth, and endogenous kinetic energy needs to be activated.
On June 30th, data released by the National Bureau of Statistics showed that the purchasing managers’ index (PMI) of manufacturing industry was 50.2% in June, up 0.6 percentage points from the previous month. The non-manufacturing business activity index and the comprehensive PMI output index were 54.7% and 54.1%, respectively, which were 6.9 and 5.7 percentage points higher than the previous month, and both rose to the expansion range, indicating that the economic recovery situation continued to improve.
"On the whole, the current economy is in the fastest period of repair. On the one hand, the smooth logistics has significantly improved the delivery time and production conditions of suppliers. On the other hand, the previously suppressed demand has been released, and the business activity index of service industry and construction industry has rebounded sharply." Wen Bin, chief economist and dean of the research institute of Minsheng Bank, told reporters that further policy care may be needed to promote the transition from natural restoration to endogenous kinetic energy activation.
Shanghai Stock Exchange: Constantly innovating the way of asset securitization to revitalize assets
On June 30, the Shanghai Stock Exchange issued the Notice on Further Giving Play to the Function of Asset Securitization Market to Support Enterprises to Revitalize Existing Assets (hereinafter referred to as the Notice).
"The issuance of this Notice is one of the measures taken by the Shanghai Stock Exchange to implement the State Council’s Opinions on Further Revitalizing Stock Assets and Expanding Effective Investment. It will help enterprises to revitalize stock assets and smooth the virtuous circle of investment and financing by further promoting the issuance of asset securitization products." The relevant person in charge of the Shanghai Stock Exchange said that in the next step, the Shanghai Stock Exchange will continue to innovate the way of asset securitization to revitalize assets, broaden the depth and breadth of services in the asset securitization market, improve the quality and efficiency of serving the real economy, and promote the high-quality development of the bond market.
People’s Daily
Strong growth of global offshore wind power
According to the Global Wind Energy Report 2022 recently released by the Global Wind Energy Council, in 2021, the installed capacity of global offshore wind power increased by 21.1 GW, a year-on-year increase of three times, the largest increase in history. Global offshore wind power will continue to maintain a strong growth momentum.
According to the report, offshore wind power accounts for 22.5% of the total installed capacity of global wind power in 2021. The global cumulative installed capacity of offshore wind power reaches 57 GW, and China has become the country with the largest cumulative installed capacity of offshore wind power. According to the data released by Bloomberg New Energy Finance, in the ranking of global wind turbine manufacturers in 2021, China wind turbine manufacturers occupy 6 seats in the top 10.
Global offshore wind power has great development potential. According to World Bank data, the global available offshore wind power resources exceed 71,000 GW. According to Global Wind Energy Report 2022, the annual compound growth rate of global offshore wind power is expected to reach 8.3% in the next five years, and the cumulative installed capacity will exceed 90 GW from 2022 to 2026.
