[Today's headlines]

Shenzhen property market policies continue to be loosened, sellers exchange price for volume, and the second-hand housing market heats up

On March 26, Shenzhen abolished the “7090 Policy” implemented since 2006, which means that there will be no restrictions on large real estate types in the future. According to industry opinions, the cancellation of this policy will boost the enthusiasm of housing enterprises to acquire land. Furthermore, due to the scarcity of high-end housing in Shenzhen, the future entry of pure high-end housing in the core area is expected to bring popularity to the Shenzhen property market. According to agency data, in Xiaoyangchun in March, property market transactions in the four first-tier cities remained low, but in comparison, the Shenzhen property market performed best. Since February of this year, with the relaxation of the purchase restriction policy in Shenzhen, mortgage interest rates have been lowered again. Thirty days after the Spring Festival, the number of second-hand housing listings in Shenzhen has been at a high level for nearly three years, and the number of home purchase contracts entered has also rebounded to the level of more than 1,000 units/week for four consecutive weeks. How long will Xiaoyangchun last in the Shenzhen property market this year? According to some opinions, Shenzhen's performance this year's Xiaoyangchun was better than last year. Judging from the trend in housing volume, it is estimated that it will last longer. There are also opinions that, based on past experience, the trend of the Shenzhen property market's continued recovery will cool down in early April this year.

CICC released a research report saying that since the current cycle, although the real estate sector as a whole has shown characteristics of being dragged downward for a long time and fluctuating in policy effects in the short term, the characteristics of increasing policy frequency, shortening, and narrowing since the beginning of the year have also become increasingly obvious. Under the premise that real market risks can be controlled to a certain extent (as shown by stable phased sales of new homes, no significant increase in month-on-month price declines in leading cities, and relatively manageable credit risk for key housing enterprises), the sector may have shown phased consolidation and transactions under the influence of a “small run fast” policy Characteristics that occur frequently. It involves the domestic housing sector of Hong Kong stocks.

[General outlook]

Nvidia (NVDA.US) fell more than 2%, and most popular Chinese securities declined

US stocks closed overnight. The Dow fell 31.31 points, or 0.08%, to 39282.33 points; the NASDAQ fell 68.77 points, or 0.42%, to 16315.70 points; and the S&P 500 fell 14.61 points, or 0.28%, to 5203.58 points. Apple (AAPL.US) closed down 0.6%, Tesla (TSLA.US) rose 2.9%, and Nvidia (NVDA.US) fell more than 2%.

The Nasdaq China Golden Dragon Index closed down 0.55%, Alibaba (BABA.US) rose slightly, and DOYU.US (DOYU.US) fell 9%. Most popular Chinese securities declined, with Vipshop, Bilibili, and NIO falling more than 2%. The Hong Kong stock ADR index declined. On a proportional basis, it closed at 16,561 points, down 56.78 points or 0.34% from the Hong Kong closing.

[Hot preview]

People familiar with the matter deny that Apple and Baidu (09888) have reached an AI cooperation

Recently, there were media reports that Baidu will provide AI features for the domestic versions of the iPhone 16, Mac systems, and iOS 18 that Apple will release this year. In response, people close to Apple denied this to “China Daily”, saying that the two sides have yet to reach cooperation.

Alibaba (09988) acquires shares in Cainiao and withdraws listing application to increase investment in logistics strategy

Alibaba Group announced on March 26 that in order to better strengthen e-commerce business collaboration with Alibaba and continue to support Cainiao's expansion of its global logistics network, it decided to withdraw Cainiao's listing application and use a cash offer to acquire all shares of Cainiao's minority shareholders and the shares already owned by employees. The acquisition involved an amount of $3.75 billion. This strategy highlights Ali's focus on strengthening its e-commerce core business and logistics collaboration, as well as its confidence in investing in future logistics strategies.

BYD shares (01211): net profit of 30.4 billion yuan in 2023 increased by 80.72% year-on-year

According to the annual report released by BYD, net profit in 2023 was 30.4 billion yuan, an increase of 80.72% over the previous year; it plans to distribute a cash dividend of 30.96 yuan for every 10 shares.

Pharmaceutical Biotech (02269): Revenue of 17.034 billion yuan in 2023 increased 11.6% year-on-year

Pharmaceutical Biotech announced on March 26 on the Hong Kong Stock Exchange that the Group's revenue in 2023 increased 11.6% year on year to reach 17.034 billion yuan. Among them, non-COVID-19 revenue surged 37.7% year on year, and revenue from post-COVID-19 and commercial production projects surged 101.7% year on year. Gross profit increased 1.5% year over year to 6.828 billion yuan.

China Ship Leasing (03877) announces annual results: net profit of HK$1.912 billion, up 10.2% year-on-year, and plans to pay final interest of HK$0.09 per share

According to the Zhitong Finance App, China Ship Leasing (03877) announced results for the year ended December 31, 2023, with revenue of approximately HK$3,626 billion, up 13% year on year; profit of HK$1.912 billion, up 10.2% year on year; basic and diluted profit of HK$0.31 per share; proposed final dividend of HK$0.09 per share.

Follett Glass (06865) announced annual results: net profit of 2,763 billion yuan, a year-on-year increase of 30.16%, final interest of 0.38 yuan per share

According to the Zhitong Finance App, Follett Glass (06865) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 21,524 billion (same unit), an increase of 39.21%; net profit of RMB 2,763 billion, up 30.16% year on year; and earnings per share of 1.24 yuan, and plans to pay a final dividend of RMB 0.38 per share.

Hygea Healthcare (06078) announced annual results: adjusted net profit of 713 million yuan, up 17.53% year-on-year

According to the Zhitong Finance App, Hygea Healthcare (06078) announced the results for the year ended December 31, 2023. The group obtained revenue of 4,077 billion yuan (same unit), an increase of 27.57% year on year; net profit of 685 million yuan, up 42.14% year on year; adjusted net profit of 713 million yuan, up 17.53% year on year; and basic profit of 1.08 yuan per share.

Tsingtao Brewery (00168) announced its 2023 annual results: net profit of 4.268 billion yuan, a year-on-year increase of 15.02%, and plans to distribute 2 yuan per share

According to the Zhitong Finance App, Tsingtao Brewery (00168) disclosed its 2023 annual report. The company achieved revenue of 33.937 billion yuan in 2023, up 5.49% year on year; net profit to mother of 4.268 billion yuan, up 15.02% year on year; after deducting non-net profit of 3,721 billion yuan, up 15.94% year on year; and basic earnings per share of 3.139 yuan. The company plans to pay a cash dividend of 2 yuan per share (tax included).

COSCO SHIPPING International (00517) Announces 2023 Results: Profit attributable to equity holders rose 71% to HK$594 million with final interest of HK17.5 cents per share

According to the Zhitong Finance App, COSCO SHIPPING International (00517) announced its 2023 results. Revenue fell 16% to HK$3.342 billion, profit attributable to the company's equity holders increased 71% to HK$594 million, basic and diluted earnings per share increased 77% to HK40.33 cents, and plans to pay a final dividend of HK17.5 cents per share.

Yihai International (01579) announced annual results: profit attributable to shareholders of 853 million yuan increased by 14.92% year-on-year

According to the Zhitong Finance App, Yihai International (01579) announced annual results for the year ended December 31, 2023. The group achieved revenue of 6.148 billion yuan (RMB, same below) during the period, an increase of 0.01%; profit attributable to shareholders of 853 million yuan, an increase of 14.92% over the previous year; basic profit per share of 87.5 points; and proposed to pay a final dividend of 0.74 yuan per share.

Hanson Pharmaceuticals (03692) announces 2023 results: net profit of $3.277.5 billion, up 26.85% year-on-year, final interest rate of HK14.22 cents per share

According to the Zhitong Finance App, Hanson Pharmaceuticals (03692) announced its 2023 results, with revenue of approximately RMB 10.104 billion, up 7.7% year on year; R&D expenditure of about RMB 2,097 billion, up 23.8% year on year; net profit of RMB 3.277.5 billion, up 26.85% year on year; basic profit of $0.55 per share, with a final dividend of HK14.22 cents per share.

Haidilao (06862) announced annual results: profit attributable to shareholders of 4.499 billion yuan increased by 227.33% year-on-year

According to Zhitong Finance App, Haidilao (06862) announced its annual results for the year ended December 31, 2023. The group achieved continuous operating revenue of 41,453 billion yuan (RMB, same below) during the period, an increase of 33.55%; profit attributable to shareholders of 4.499 billion yuan, an increase of 227.33% over the previous year; basic profit per share of 0.83 yuan; and a final cash dividend of HK$0.824 per share.

Poly Industries (06049) announces 2023 results: Profit attributable to shareholders of 1.38 billion yuan increased 24% year over year, final interest of 0.998 yuan per share

According to the Zhitong Finance App, Poly Industries (06049) announced its 2023 results, with revenue of about RMB 15.062 billion, up 10% year on year; gross profit of about RMB 2,953 billion, up 14.7% year on year; company owners should account for profit of $1.38 billion during the year, up 24% year on year; basic profit per share of 2.51 yuan, with a proposed final dividend of RMB 0.998 per share.

Follett: Net profit in 2023 increased 39.21% year-on-year, and plans to pay 10.8 yuan

Follett announced that net profit for 2023 was 2.76 billion yuan, an increase of 39.21% over the previous year, and plans to pay 3.8 yuan.

ZTE (00763): Net profit in 2023 increased 15.41% year-on-year, and plans to distribute 10 to 6.83 yuan

ZTE Hong Kong Stock Exchange announced that the net profit for 2023 was 9.325 billion yuan, up 15.41% year on year, and plans to distribute 10 shares of 6.83 yuan.

CNOOC Oilfield Services (02883) Announces 2023 Annual Results: Profit attributable to shareholders of RMB 3,013 billion increased 27.75% year-on-year, and plans to pay a final dividend of RMB 0.21 per share

According to the Zhitong Finance App, CNOOC Finance App (02883) announced the results for the year ended December 31, 2023. The group achieved revenue of 44.109 billion yuan (RMB, same below) during the period, an increase of 23.7%; annual profit attributable to company owners was 3,013 billion yuan, an increase of 27.75% year on year; basic profit per share of 63.15 points; and plans to pay a final dividend of 0.21 yuan per common share.

Federal Pharmaceuticals (03933) announced annual results: profit attributable to shareholders of 2.701 billion yuan, an increase of 70.9% over the previous year, proposed final interest of 28 points per share and special interest of 12 points per share

According to Zhitong Finance App, Federal Pharmaceuticals (03933) announced its 2023 annual results announcement, with revenue of about 13.74 billion yuan (RMB, same below), up 21.2% year on year; annual profit attributable to company owners of 2,701 billion yuan, up 70.9% year on year; basic profit per share of 148.67 points; proposed final dividend of 28 points per share and special dividend of 12 points per share, along with the annual dividend of 52 points per share.

[Individual stocks are a bit clear]

Nongfu Spring (09633) announced annual results: profit attributable to shareholders of 12.079 billion yuan increased by 42.2% year-on-year, further consolidating the dual-engine pattern for packaged drinking water and beverages

According to Zhitong Finance App, Nongfu Spring (09633) announced the results for the year ended December 31, 2023. The Group's total revenue was RMB 42,667 billion (same unit), up 28.4% year on year; profit attributable to owners of the parent company was RMB 12.079 billion, up 42.2% year on year; basic profit per share was 1.07 yuan; and it is recommended to pay a year-end dividend of RMB 0.75 per common share.