Macroeconomy
1. Xinhua News Agency: In 2024, China’s ports handled 17.6 billion tons of cargo and 330 million TEUs of containers, maintaining the world’s top rankings. Among the global top 10 ports in cargo and container throughput, China accounted for 8 and 6 positions, respectively.
2. Wang Weizhong, Governor of Guangdong Province: Guangdong has 6 private enterprises in the Fortune Global 500 and 12 industrial clusters in the 2024 Top 100 Private Economy Industrial Clusters. The province will implement the "10-100-1000-10000" plan to foster world-class enterprises.
3. Huanqiu.com: The 13th China-Japan-ROK Economic and Trade Ministers’ Meeting in Seoul agreed to strengthen cooperation under multilateral frameworks like the WTO, RCEP, and APEC to foster a favorable business environment.
4. CCTV International: NBC reported on March 30 that President Trump threatened to bomb Iran and impose "secondary tariffs" if Tehran fails to reach a nuclear deal.
5. CCTV Finance: The U.S. submitted a new Ukrainian mineral draft requiring state/private natural resource revenues to be transferred to a U.S.-managed fund, without security guarantees.
Real Estate Trends
1. CCTV.com: Beijing’s second-hand housing market liquidity improved, with March transactions up 36.3% YoY to 16,924 units. Monthly transactions have averaged over 17,000 since October.
2. Country Garden: 2024 revenue: 252.8 billion yuan; contracted sales: 47.2 billion yuan. Total assets: 1.0358 trillion yuan, with net assets of 51.3 billion yuan. Net loss narrowed by 82.53% YoY.
Stock Market Review
1. Last Friday: Shanghai Composite -0.67% to 3,351.31 (weekly -0.4%); Shenzhen Component -0.57% to 10,607.33 (weekly -0.75%); ChiNext -0.79% to 2,128.21 (weekly -1.12%).
2. Last Friday: Hang Seng Index -0.65% to 23,426.60 (weekly -1.11%); Hang Seng Tech -1.48% to 5,506.47 (weekly -2.36%); H-share Index -0.82% to 8,606.51 (weekly -1.55%).
3. Shanghai Securities News: Hong Kong became the world’s second-largest equity market in Q1 2025, with IPO and placement proceeds surging 11x to $16 billion, surpassing India’s $6.9 billion.
4. CITIC Securities: Recommended tech-focused sectors (AI, domestic computing power, military, lithium batteries, HK innovative drugs), supply-side clearing (aluminum, steel, panels), and consumption recovery (offline retail, hotels).
5. Caijing Toutiao App: China’s "Big Three" oil companies earned over 352.9 billion yuan in 2024, led by PetroChina’s record 164.68 billion yuan profit (+2% YoY).
6. ST Tianbang: 2024 revenue: 9.643 billion yuan (-5.75% YoY); net profit: 1.459 billion yuan, applied to remove ST status.
7. Henrui Medicine: 2024 revenue: 27.985 billion yuan (+22.63% YoY); net profit: 6.337 billion yuan (+47.28% YoY). Dividend: 1.02 yuan/10 shares.
8. Guangda Special Materials: Q1 2025 revenue: ~1.12 billion yuan (+25.56% YoY); net profit: ~75 million yuan (+1,504.79% YoY), driven by downstream demand.
9. Heda 九天: To acquire 100% of Xinhe Semiconductor; stock resumes trading on March 31.
10. Haiyuan Composite Materials: Controlling shareholder to transfer 37.175 million shares; stock resumes trading on March 31.
11. New Share Subscription: 2 new shares: Xinkai Technology (Shenzhen main board) and Taihe Co., Ltd. (GEM).
12. Unlocking of Restricted Shares: 34 companies with 2.312 billion shares worth 22.353 billion yuan to be unlocked. China Southern Power Grid Energy leads with 6.457 billion yuan.
Wealth Focus
1. Securities China: Top fund managers’ profits revealed: E Fund, GF, and China Southern earned over 2 billion yuan in 2024. Overseas expansion emerged as a key strategy.
2. 21st Century Business Herald: 17 of 22 listed securities firms reported profit growth in 2024, with Guotai Junan, CMB Securities, and China Galaxy back in the 10 billion yuan club.
3. CCTV News: Five Wuhan medical institutions were investigated for using "recycled drugs," with medical insurance settlements suspended.
Industry Observation
1. Gou Ping, Deputy Director of SASAC: Strategic M&A of major auto state-owned enterprises will increase industry concentration. New energy vehicle investment rose 35% YoY in 2024, with "three electric systems" (battery, motor, controller) resources domestically controlled.
2. General Office of the CPC Central Committee and State Council: Aims to build 1.35 billion mu of high-standard farmland and 80 million mu of efficient water-saving irrigation by 2030.
3. Cui Dongshu, CPCA: 2025 passenger vehicle retail sales forecast: 23.3 million units (+2% YoY), including 15.7 million NEVs (+28% YoY).
4. Li Yunfei, BYD: The auto industry should prioritize technological innovation and ethical marketing, rejecting exaggerated claims and malicious competition.
5. Hefei, Anhui Province: Launched a 10 billion yuan future industries fund, 2 billion yuan for public service platforms, and 100 million yuan annual subsidies for intelligent robot R&D.
6. Science and Technology Daily: Civil manned drone operations began in China, with EHang and Heyi receiving OC certificates from CAAC.
7. CFLP: Jan-Feb 2025 social logistics total: 56.3 trillion yuan (+5.3% YoY). High-tech manufacturing logistics demand rose 9.1% YoY.
8. CBN: AI-driven short dramas like "Delivering Food in Another World" achieved 900,000 views on Xiaohongshu, cutting production costs by 90%.
9. Eli Lilly China: Launched Jinenad® (donanemab) for Alzheimer’s treatment in China.
Company News
1. Douyin: Launched a transparency website detailing recommendation algorithm principles and content moderation processes.
2. MeiJing.com: Neuralink’s first user, Nolan Albo, found employment as a keynote speaker after receiving a brain-computer interface.
3. Huanqiu.com: Japanese beef bowl chain Sukiya suspended operations at ~2,000 stores for four days following foreign object contamination incidents.
Global Perspective
1. CCTV Finance: President Trump vowed to acquire Greenland "by any means," including military force, while acknowledging a "high chance" of peaceful acquisition.
2. India: Approved a 620 billion rupee deal for 156 light combat helicopters, its largest-ever defense procurement.
Financial Data
1. Last Friday: Onshore RMB closed at 7.2637 (weekly -0.2042%); mid-price: 7.1752 (weekly +0.0111%).
2. New Third Board: 8 new listings, trading volume of 1.062 billion yuan (weekly -11.62%); total listings: 6,090.
3. Shanghai Environment and Energy Exchange: Carbon trading volume: 753,900 tons; turnover: 63.961 million yuan; closing price: 86.13 yuan/ton (weekly -1.88%).
4. US Stocks: Dow -1.69% to 41,583.90 (weekly -0.96%); S&P 500 -1.97% to 5,580.94 (weekly -1.53%); Nasdaq -2.70% to 17,322.99 (weekly -2.59%).
5. Europe: DAX -0.96% to 22,461.52 (weekly -1.88%); CAC 40 -0.93% to 7,916.08 (weekly -1.58%); FTSE 100 -0.08% to 8,658.85 (weekly +0.14%).
6. Gold: COMEX June futures +0.59% to $3,116.6/oz (weekly +2.26%), hitting a record high.
7. Crude Oil: WTI May futures -0.8% to $69.36/bbl (weekly +1.58%); Brent May futures -0.54% to $73.63/bbl (weekly +2.04%).
Financial Secretary's Tracking: China’s Rare Earth Industry Sounds a New Development Tune
► Ministry of Natural Resources: China accounts for 48% of global rare earth reserves (44 million tons REO) and 70% of mining/output capacity. 2024 extraction/smelting quotas: 270,000 tons (+5.9%) and 254,000 tons (+4.2%). Myanmar imports dropped, while U.S. imports declined due to MPMaterial’s domestic processing.
► Huafu Securities: New energy + humanoid robot demand may drive a 12% CAGR in high-performance NdFeB magnets to 173,600 tons by 2026. NEVs contribute 36-41% of demand, while humanoid robots could add 3,500 tons by 2027.
► Zhongtai Securities: New regulations aim to restructure supply through total quantity control, industry consolidation, and import controls. 2025 quotas likely to grow slowly, with potential supply shortages.
► Kaiyuan Securities: Praseodymium-neodymium oxide supply may tighten in 2025-2026 due to quota deviations and import uncertainties. Prices expected to stabilize in 2025 and rise in 2026.