[Today's headlines]
The Champions League “handed over” early this year, and the Hong Kong Stock Exchange (00388) has received 30 new company listing applications
The Zhitong Finance App learned that Nicolas Aguzin (Nicolas Aguzin), CEO of the Hong Kong Stock Exchange (00388), will be handed over as early as March 1, and Chen Yiting will take over as CEO. Champions League said at the results conference that since the beginning of this year, the Group has received 30 new company listing applications, which is higher than the same period last year. It describes the level of relevant activity as healthy. Some of the applications are large companies and excellent companies, and they are cautious about the relevant situation to a certain extent, but at the same time, they are optimistic about this, and still believe that Hong Kong is a huge market worth listing for companies.
[General outlook]
Qiaoshui founder Ray Dalio: The bubble in US tech stocks doesn't seem “big”
US stocks closed overnight. The Dow rose 47.37 points, or 0.12%, to 38996.39 points; the NASDAQ rose 144.18 points, or 0.90%, to 16091.92 points; and the S&P 500 rose 26.51 points, or 0.52%, to 5096.27 points. Nvidia (NVDA.US) closed up 1.8%, Arm (ARM.US) up 5%, and AMD (AMD.US) up 9%, closing at $310 billion.
The Nasdaq China Golden Dragon Index fell 0.2%, Xiaopeng Motors (XPEV.US) rose 7.9%, NIO Auto (NIO.US) rose 5%, and Ideal Auto (LI.US) rose more than 1%. Community Bank of New York (NYCB.US) extended its after-hours decline to 21%, and the company reported major flaws in internal controls. The Hong Kong stock ADR index declined. On a proportional basis, it closed at 16,496 points, down 39.93 points or 0.24% from the Hong Kong closing price.
Qiaoshui founder Ray Dalio posted on social media on Thursday that judging from his six bubble indicators, the bubble in US tech stocks seemed “not big.” Dalio observed that since January 2023, the market value of “Big Seven” stocks has increased by more than 80%, and these companies now account for more than a quarter of the total market value of the S&P 500 index.
[Hot preview]
Seven departments: Build a technical equipment system for the entire industrial chain of hydrogen energy generation, storage, transmission, and use around hydrogen demand in the fields of petrochemicals, steel, transportation, energy storage, power generation, etc.
Guidance from seven departments including the Ministry of Industry and Information Technology on accelerating the green development of the manufacturing industry. Forward-looking layout of future industries in the green and low-carbon sector. Focus on the energy revolution and industrial transformation needs under the “double carbon” goal, and plan the layout for future energy and future manufacturing industry development such as hydrogen energy, energy storage, biomantry, carbon capture, utilization, and storage.
Build a technical and equipment system for the entire industrial chain of hydrogen energy generation, storage, transmission, and use around hydrogen demand in the fields of petrochemicals, steel, transportation, energy storage, power generation, etc., to improve the technical economy and completeness of the hydrogen energy industry chain. Focus on various power system application scenarios such as energy storage on the power supply side, power grid side, user side, etc., develop novel energy storage diversified technologies, create the energy storage technology product matrix required for new power systems, and achieve large-scale application of energy storage on multiple time scales.
Give full play to environmentally friendly advantages such as strong selectivity, high production efficiency, and low waste, and focus on fields such as light industrial fermentation, pharmaceuticals, chemicals, agriculture and food, and establish a technology system for the creation of core strains and key enzymes in biological manufacturing. Focus on improving energy efficiency and reducing costs throughout the life cycle of CCUS technology, and carry out research and demonstration of technologies such as coupling CCUS with industrial processes and biotransformation and utilization of carbon dioxide. It involves Hong Kong stocks in the hydrogen energy industry chain such as CIMC Enruico (03899), Weichai Power (00338), and Dongfang Electric (01072).
A video scheduling conference on the work of the urban real estate financing coordination mechanism was held
On the morning of February 29, 2024, the Ministry of Housing and Urban-Rural Development and the General Administration of Financial Supervision jointly held a video scheduling conference on the work of the Urban Real Estate Financing Coordination Mechanism. The conference emphasized that all regions should do a solid job in the financing coordination mechanism, focus on the quality of the “white list” of projects, focus on work progress, focus on project construction, and focus on publicity and guidance. According to the “everything should be built” principle of the coordination mechanism, before March 15, cities at prefectural level and above must establish a financing coordination mechanism, not only to complete the “white list” promotion with high quality, but also to coordinate and resolve difficult project issues with high efficiency.
Huawei Hou Jinlong: The number of charging stations will increase at least fivefold in the next ten years
Recently, Hou Jinlong, director of Huawei and president of Huawei Digital Energy, said at the 2024 China Digital Energy Partnership Conference that the number of electric vehicles is expected to increase tenfold in the next ten years, from 20 million to 200 million units, charging capacity will increase tenfold, from 100 billion degrees to 1 trillion degrees, and the number of charging piles will increase at least 5 times in 10 years.
Silicon Industry Branch: Silicon wafer production reached a new high in February, and silicon wafer prices are close to cash costs
The Silicon Industry Branch of the China Nonferrous Metals Industry Association released a weekly review of monocrystalline silicon wafers, and prices declined slightly this week. On the supply side, silicon wafer production reached a new high in February, and silicon wafer prices are close to cash costs. The average transaction price of M10 monocrystalline silicon wafers (182 mm/150 μm) remained flat at 2.05 yuan/sheet; the average transaction price of N-type monocrystalline silicon wafers (182 mm/130 μm) dropped to 1.98 yuan/sheet, down 1.98% from week to week; the average transaction price of G12 monocrystalline silicon wafers (210 mm/150 μm) remained flat at 2.89 yuan/sheet, and remained flat from week to month. The main reason for the decline in N-type 182 silicon wafers this week was that companies took the initiative to cut prices and clean up inventory. It involves the Hong Kong PV industry chain: GCL Technology (03800), Xinte Energy (01799), Follett Glass (06865), and Xinyi Glass (00868).
Tianqi Lithium (09696): Currently, the company's built production capacity of lithium compounds and derivatives is 88,800 tons/year
Tianqi Lithium said on the interactive platform that currently, the company's built production capacity of lithium compounds and derivatives is 88,800 tons/year. Among them, the three factories in Shehong, Zhangjiagang, and Chongqing have been in mature and stable operation for many years, and are currently carrying out production and operation in a normal and orderly manner according to the plan. The first bag of battery-grade lithium carbonate products at the Anju factory passed sampling inspection in the company's internal laboratory, and all parameters were confirmed to meet battery-grade lithium carbonate standards on December 21, 2023. Currently, the Anju Project with an annual output of 20,000 tons of lithium carbonate and the Quinana Phase I project with an annual output of 24,000 tons of lithium hydroxide in Australia are in the process of climbing capacity.
Entering late February, lithium carbonate futures changed their previous decline. The main contract price closed higher for 7 consecutive trading days, and successively broke through the 100,000 yuan/ton and 110,000 yuan/ton marks. It was even closer to 120,000 yuan/ton in the intraday market on the 29th. Industry insiders said that recently, there has been plenty of favorable news on the supply side and demand side of the lithium carbonate market, supporting the strengthening of price shocks. However, in the long run, the room for further increases in lithium carbonate prices is expected to be limited under the influence of a fundamental oversupply pattern.
Xiaopeng Motors (09868) and Volkswagen Group signed a joint development agreement for platform and software strategic technical cooperation
Xiaopeng Motor and Volkswagen Group jointly announced that following the announcements made by Xiaopeng Motor on July 26, 2023 and December 6, 2023 regarding Volkswagen's acquisition of 4.99% of Xiaopeng Motor's shares and that the two parties reached a strategic technical cooperation framework agreement, Xiaopeng Motor and Volkswagen Group signed a joint development agreement for platform and software strategic technical cooperation, marking a milestone in the strategic cooperation between the two sides. The signing of the joint development agreement will not only accelerate joint research and development of the two B-class pure electric vehicles, but also lay a solid foundation for broader and deeper strategic cooperation between the two sides.
Dacheng Biochemical Technology (00809) is expected to achieve annual net profit of HK$3.6 billion to HK$4 billion, turning a year-on-year loss into profit
According to the Zhitong Finance App, Dacheng Biochemical Technology (00809) issued an announcement. Regarding the Group's continued operation and discontinued operations, the Group expects to achieve net profit (excluding tax effects) for the year ended 31 December 2023. The range is about HK$3.6 billion to HK$4 billion. Compared with the year ended 31 December 2022, the net loss (excluding tax impact) was approximately HK$1,574 billion. The Group's terminated business means that Dacheng Sugar Holdings Limited (“Dacheng Sugar”, together with its subsidiaries, collectively, “Dacheng Sugar Group”) (a company listed on the main board of the Stock Exchange, stock code: 03889) and its subsidiaries, ceased to be part of the Group after the Group completed the sale of Dacheng Sugar Group on December 21, 2023.
Huabao International (00336) expects annual profit before tax of 364 million yuan to 464 million yuan
Zhitong Finance App News, Huabao International (00336) issued an announcement. As of the date of this announcement, the Group is expected to achieve pre-tax profit (including confirmed impairment of goodwill and other asset impairment losses) of between RMB 364 million and RMB 464 million in the same period last year. The main reason is that it confirmed goodwill impairment of approximately RMB 1,508 million in the same period last year.
Baiyunshan (00874) Branch obtained approval notice for marketing application for propofovir fumarate chemical raw materials
According to Zhitong Finance App, Baiyunshan (00874) announced that the company's branch Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd. Baiyunshan Chemical Pharmaceutical Factory (hereinafter referred to as “Baiyunshan Chemical Pharmaceutical Factory”) received a notice of approval for the marketing application of propofol tenofovir fumarate chemical raw materials approved and issued by the State Drug Administration.
JD Logistics (02618) launches “10,000 recruitment program” to recruit about 20,000 people in the first half of 2024
Recently, JD Logistics launched the “10,000 People Recruitment Program”. In the first half of 2024, it will recruit about 20,000 new employees, focus on supply chain, operation, management, sales, etc., and focus on introducing grass-roots managers, grass-roots reserve management talents, and frontline operators through recruitment projects such as the “Boss Recruitment Order” and “Youth Officer Class”, with the aim of further enhancing the expertise of JD Logistics talents.
NetEase S (09999) has a richer and more diversified game product line in 2023. Net profit of about 29.417 billion yuan increased 44.64% year over year
According to the Zhitong Finance App, NetEase (09999) announced results for the fourth quarter of 2023. Net revenue was RMB 27.1 billion (US$3.8 billion), an increase of 7.0% over the previous year. Gross profit was RMB 16.8 billion (US$2.4 billion), an increase of 27.0% year over year. Net profit attributable to the company's shareholders was RMB 6.582 billion (US$927 million), basic net profit per share was $0.29, and the fourth quarter dividend was US$0.21,597 per share.
Cloud Music (09899) released annual results: profit attributable to shareholders of 734 million yuan, turning a year-on-year loss into profit, the number of monthly active online music service users steadily increased to 206 million
According to the Zhitong Finance App, Cloud Music (09899) released its annual results for the year ended December 31, 2023. The group achieved revenue of 7.867 billion yuan (RMB, same below); gross profit of 2.03 billion yuan, an increase of 62.6% over the previous year; profit attributable to shareholders of 734 million yuan. Shareholders should have accounted for losses of 221 million yuan during the same period last year, turning losses into profits; and basic profit per share of 3.49 yuan.
Yum China (09987) announces 2023 annual results: net profit of US$827 million, up 87% year-on-year, and plans to distribute $0.16 per share
According to the Zhitong Finance App, Yum China (09987) announced results for the year ended December 31, 2023. Total revenue increased 15% to US$10.98 billion. Operating profit increased 76% to US$1.1 billion. Adjusted operating profit increased 77% to US$1.1 billion. Core operating profit increased 79%. Net profit of $827 million increased 87% year over year. Diluted earnings per share increased 89% to $1.97, and a proposed cash dividend of $0.16 per share.
[Individual stocks are a bit clear]
Yixin Group (02858) announced its 2023 results: adjusted net profit of about RMB 910 million, up 32% year-on-year, final interest of HK3 cents per share
According to Zhitong Finance App, Yixin Group (02858) announced its 2023 results, with revenue of about RMB 6.686 billion (same unit), up 29% year on year; gross profit of about RMB 3.247 billion, up 12% year on year; net profit of about 555 million yuan, up 50% year on year; adjusted net profit of about RMB 910 million, up 32% year on year; basic profit per share of 0.086 yuan, with a final dividend of HK3 cents per share.
The company's net revenue and profit both grew steadily, and various businesses progressed steadily. Among them, the fintech (SaaS service) business performed well and achieved explosive growth. The amount of financing transactions facilitated through the financial technology model reached 10.2 billion yuan throughout the year, while SaaS service revenue rose from 122 million yuan in 2022 to 463 million yuan, an increase of 280% over the previous year.
According to the announcement, in 2023, the number of companies that have signed up for Yixin Jinke's business further increased, 9 new cooperation projects were launched, and cooperation with existing partners continued to be deepened. At the same time, with the advancement of AI technology, the SaaS system architecture was also continuously iteratively upgraded, and various functional platforms were further improved. It is suitable for various transaction models such as loan aid and joint leasing, and is suitable for various business types such as new cars, used cars, and scenario installments.
The company stated in its performance announcement that the Jinke model expands the company's services from specific market segments to the entire automotive consumer finance market. It is expected that this business will continue to grow rapidly in the next 2-3 years, becoming one of the main driving forces of the company's performance.