Financial attention
Macroeconomics
1. China Railway: Starting from 00:00 on January 5th, the national railway will implement a new train schedule, with 13028 scheduled passenger trains, an increase of 230 trains compared to before the schedule adjustment; 22859 freight trains were put into operation, an increase of 91 trains compared to before the adjustment, further improving the railway's passenger and freight transportation capacity, service quality, and operational efficiency.
2. Chinese Center for Disease Control and Prevention: Currently, the positive rate of influenza virus continues to rise, with over 99% of cases being H1N1 influenza. Urgent reminders from multiple regions across the country for disease control and prevention: personal protective measures should be taken, and attention should be paid to preventing respiratory and intestinal infectious diseases.
3. First Financial: In 2023, the expenditure on healthcare, education, elderly care, and housing security will account for 40.7% of the general public budget, an increase of 5.5 percentage points from 2013 ten years ago. The optimization of expenditure structure has been ongoing, but there may still be some gaps compared to expectations.
4. Beijing Yizhuang: The second phase of the government investment guidance fund with a scale of 10 billion yuan will be officially established, continuing to focus on enterprises that meet the industry positioning and relevant industrial policies, such as the four leading industries and six future industries. The fund will focus on various projects related to economic development and industrial promotion, such as upgrading the industrial chain, strengthening and supplementing the chain, and independent innovation.
Stock market inventory
1. Last Friday, the Shanghai Composite Index closed down 1.57% at 3211.43 points, down 5.55% for the week; The Shenzhen Component Index closed down 1.89% at 9897.12 points, down 7.16% for the week; The ChiNext Index closed down 2.16% at 2015.97 points, down 8.57% for the week.
2. Last Friday, the Hang Seng Index closed up 0.70% at 19760.27 points, down 1.64% for the week; The Hang Seng Technology Index closed up 1.05% at 4403.12 points, down 2.98% for the week; The state-owned enterprise index closed up 0.97% at 7159.28 points, down 2.00% for the week.
3. Shanzi High tech (2 consecutive boards): After self-examination, the company has not violated fair disclosure of information.
4. Tianci Material: The company plans to use its own funds and self raised funds (including commercial bank repurchase special loans, etc.) to repurchase some of its A-share shares through centralized bidding, with a repurchase amount not less than 100 million yuan and not exceeding 200 million yuan, and a repurchase price not exceeding 25 yuan per share.
5. Yongxin Zhicheng: The company has been included in the SDN List (Specially Designated Nationals List) by the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury. No subsidiaries or branches have been established in the United States, no business has been conducted in the United States, and there are no assets in the United States.
6. Daotong Technology: It is expected that the annual net profit for 2024 will be between 620 million yuan and 680 million yuan, a year-on-year increase of 245.92% to 279.39%.
7. Chengdi Xiangjiang: The company recently received a notice from its subsidiaries Xiangjiang System Engineering Co., Ltd. and Shanghai Qisi Cloud Computing Co., Ltd. about winning the bid for the "China Mobile Hohhot Data Center Computing Infrastructure Construction and Maintenance Service Procurement Project". The overall winning bid amount of the consortium is 4.452 billion yuan (including tax).
8. ST Xulan: As of now, the controlling shareholder of the company, Dongxu Group, has used a total of 7.527 billion yuan of company funds for non operational purposes. According to relevant regulations, if the rectification cannot be completed within the deadline for rectification and all occupied funds cannot be collected, the company's stock will be suspended from trading from the next trading day after the expiration of the rectification period (January 6, 2025).
9. Puli Pharmaceutical: The company's stocks and convertible corporate bonds will be suspended from trading for one day starting from Monday, January 6th, and will resume trading on Tuesday, January 7th; The company's stock has been subject to a "delisting risk warning" since its opening on January 7th.
10. Mogao Corporation: Received notification from the company's chairman Du Guangzhen that it has recently received an "Administrative Penalty Decision" issued by the Qinghai Regulatory Bureau of the China Securities Regulatory Commission. Du Guangzhen used the "Fan Moucun" account to trade "Mogao Shares" during the sensitive period of insider information. The Qinghai Securities Regulatory Bureau has decided to confiscate Du Guangzhen's illegal gains of 199400 yuan and impose a fine of 1.5 million yuan.
11. Robotech: On January 3rd, the company received the announcement of the review meeting results issued by the Shenzhen Stock Exchange Mergers and Acquisitions Committee, which reviewed the company's issuance of shares and payment of cash to purchase assets and raise matching funds. The result was a suspension of the review.
12. New stock subscription: This week, there were 2 new stock subscriptions, 1 on the ChiNext board and 1 on the Science and Technology Innovation board, namely Huitong Technology and Sikan Technology.
13. Restricted and unlocked: This week, a total of 55 restricted shares were unlocked, with a total of 2.076 billion shares unlocked and a market value of 34.368 billion yuan. Among them, China Mobile ranked first on the unblocking list with 16.444 billion yuan, while Dizhe Pharmaceutical and Lujiazui ranked second and third with 2.298 billion yuan and 2.098 billion yuan respectively.
14. Hebei Iron and Steel Co., Ltd.: The controlling shareholder of the company, Handan Iron and Steel Co., Ltd., and its concerted action party, Tangshan Iron and Steel Co., Ltd., plan to increase their holdings of the company's A-shares through centralized bidding trading on the Shenzhen Stock Exchange trading system within six months from January 6th, based on their confidence in the company's future sustainable and stable development and recognition of its long-term investment value.
Industry Observation
1. Pengpai News: On January 3rd, the world's first optoelectronic fusion deterministic new computing network infrastructure based on CENI facilities was officially launched for application demonstration. This is the world's first wide area lossless carrying case that realizes the deterministic new computing network infrastructure of optoelectronic fusion, which will achieve technological breakthroughs and industrial leadership in China's new network infrastructure field.
2. Guangming.com: The first copper niobium composite cavity superconducting acceleration unit independently developed by the Institute of Modern Physics of the Chinese Academy of Sciences has passed various tests. The achievement of this achievement will greatly enhance China's technological level in the field of accelerators and provide a more economical and efficient technical solution for the industrial application of superconducting accelerators.
3. New Beijing News: The Guangzhou New Airport Project - Pearl River Delta Hub (Guangzhou New) Airport has officially received approval from the State Council and will become one of the three major international airports in Guangdong Province. The recent planning target year is 2035, which can meet the annual passenger throughput of 30 million people and the annual cargo and mail throughput of 500000 tons.
4. In December 2024, China's commodity price index was 111.2 points, a decrease of 1% compared to the previous month. From the operation of the index, the overall performance of the bulk market is stable, and most industries hold optimistic expectations for the future market.
5. CCTV News: The delivery ceremony of the 150 meter pile driving ship "Erhang Changqing" built by Shanghai Zhenhua Heavy Industry for China Communications Second Navigation Bureau was held in Qidong, Jiangsu, which also means that China's hydraulic construction field has added another "anchor". The "Erhang Changqing" ship is currently the world's largest pile driving vessel.
6. Securities Times: Recently, the largest cluster charging and swapping mining card project in China, the commercial project of Huaneng North Weijiamao swapping mining card, has been put into operation. This project was independently constructed by Huaneng Qingneng Institute and put into operation at the Weijiamao Coal and Electricity Company in the north, providing a demonstration for the large-scale application of battery swapping mining vehicles and charging and swapping service models.
7. China News Service: On January 4th, it was learned from Anhui University of Technology that Professor Zeng Jie, Professor Liu Mingkai, and Associate Professor Li Hongliang from the University of Science and Technology of China have collaborated to develop an efficient catalyst for environmentally friendly batteries - zinc air batteries, which is expected to play an important role in the future energy field.
8. Film Bureau: 2025 is the final year to achieve the goals and tasks of the 14th Five Year Plan for films. The film front should anchor the strategic goal of building a cultural and film power, further deepen the reform of the film industry, actively create a healthy and active film ecology, and promote the high-quality development of films by 2025 to take more solid steps.
9. Xinhua News Agency: A research team from institutions such as the University of Tokyo and Waseda University in Japan published a paper in the latest issue of the British journal Nucleic Acid Research Molecular Medicine, stating that they have developed a chimeric nucleic acid that can inhibit the proliferation of dengue virus by combining small interfering RNA (RNA) and RNA aptamers to form a complex.
Financial data
1. New Third Board: Last week, 6 new listed companies were added with a transaction amount of 842 million yuan, a decrease of 22.69% compared to the previous week. As of now, the total number of companies listed on the New Third Board has reached 6098.
2. Last Friday, the onshore Chinese yuan closed at 4:30 pm against the US dollar at 7.3093, down 0.1356% and 0.1384% for the week; The central parity rate of RMB was reported at 7.1878, down 0.0000%, and up 0.0209% for the week.
3. Shanghai Environmental Protection Exchange: Last week, the trading volume of carbon emission quota listing agreements in the national carbon market was 735200 tons, with a total trading volume of 71.6399 million yuan and a closing price of 96.76 yuan/ton, a decrease of 1% for the week.
4. US stock market: Last Friday, the Dow Jones Industrial Average rose 0.80% to 42732.13 points, down 0.60% for the week; The S&P 500 index rose 1.26% to 5942.47 points, down 0.48% for the week; The Nasdaq rose 1.77% to 19621.68 points, and fell 0.51% for the week.
5. Europe: Last Friday, the German DAX30 index fell 0.59% to 19906.08 points, down 0.39% for the week; The French CAC40 index fell 1.51% to 7282.22 points, down 0.99% for the week; The FTSE 100 index in the UK fell 0.44% to 8223.98 points, and rose 0.91% for the week.
6. Gold: Last Friday, COMEX gold futures closed down 0.65% at $2651.9 per ounce, up 0.65% for the week.
7. Crude oil: Last Friday, WTI crude oil futures rose 1.13% in February to $73.96 per barrel, up 4.8% for the week; Brent crude oil futures rose 0.76% in March to $76.51 per barrel, with a weekly increase of 3.15%.
Caitong Securities: The global wearable product market maintains a growth trend, with TWS earphones and smartwatches achieving rapid growth. The smart glasses category is currently in a rapid development stage and is expected to become the next blue ocean for wearable products. The Ray Ban Meta co branded glasses sold over 300000 units in the first quarter and over one million units in the second quarter, becoming the first best-selling product in the smart glasses category. From the perspective of product strength, a fashionable appearance and comfortable wearing experience are the foundation of the eyewear category, and the first person perspective shooting and AI function have raised the ceiling of product development.
► Bank of China International: Recently, manufacturers of AI glasses have strong software and hardware definition capabilities, and have the ecosystem of smartphones. Their entry will accelerate the trend of AI glasses industry, and is expected to better improve the application scenarios and hardware design of AI glasses. They will also better expand the interactive experience between glasses and mature application ecosystems (such as intelligent agents calling apps, etc.), enhancing the practicality of AI glasses. AI glasses are expected to become a new type of hardware terminal from "0 to 1", and it is currently seen that 2025 may be the time point for the release of heavyweight AI glasses products.
Huajin Securities: AI audio/information prompt glasses, smartwatches, and information prompt glasses all belong to the attributes of mobile phone accessories, but smartphones tend to focus on health management. The combination of information prompt glasses and AI is committed to creating personal assistants. Projection glasses meet the usage needs of users in various scenarios such as home, office, subway, airplane, camping, etc., and are strongly related to handheld/mobile phones. Space computing terminal, operating environment ranging from flat to three-dimensional, space can be borrowed from PC. AR+Al glasses are the next generation of general-purpose computing terminals, and it still takes 8-10 years of effort to achieve the level of mobile phone level general-purpose terminals in terms of overall all-weather wearing and sales.
► Everbright Securities: As AI smart glasses currently do not require display, removing upstream AR optical display and optical links, the upstream technology of the industry chain has matured, and all links in the domestic industry chain are very mature and complete. (1) Upstream industrial chain, hardware structure suppliers such as optical modules, display modules, audio modules, sensor modules, etc. (2) The midstream industrial chain includes ODM/0EM manufacturers, software/system manufacturers, and A1 large model manufacturers. (3) Downstream industry chain, sales and after-sales of AI smart glasses, including AI smart glasses brand manufacturers, traditional visual channel providers, and consumer electronics channels.