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Weekly Financial Summary 2024-09-02

Date: 2024-09-02
Views: 4

Financial attention

Macroeconomics

1. CCTV News: Since the China Thailand visa exemption agreement came into effect on March 1st, as of August 31st, Yunnan Mohan Port has released more than 16000 Thai nationals, with visa free Thai nationals accounting for over 54% of the total. Thai tourists account for more than 74% of the third country personnel who are allowed to enter or leave the country.

2. China Railway Group: The railway summer transport in 2024 has come to an end. From July 1st to August 31st, the total number of passengers transported by railways in China reached 887 million, a year-on-year increase of 6.7%. The daily average number of passengers transported was 14.312 million, setting a new historical high for summer transport passenger volume.

3. Macao SAR: From July 1st to August 31st, a total of nearly 6.685 million tourists were recorded, with an average of 108000 passengers per day. Compared to the 7.153 million person times in the same period of 2019, it has recovered to 93.4%, which is close to the same level.

4. Shanghai Municipal Education Commission: It is explicitly stated that the completion of students' summer homework shall not be used as the basis for registering students for the new semester. Feedback shall be given on the assigned summer homework, and the workload of students shall be controlled comprehensively. Reiterate that paper and pencil tests shall not be organized within 2 weeks of the start of the school year, and students' academic burden shall not be arbitrarily increased.


Stock market inventory

1. Last Friday, the Shanghai Composite Index closed up 0.68% at 2842.21 points, down 0.43% for the week; The Shenzhen Component Index closed up 2.38% at 8348.48 points, with a weekly increase of 2.04%; The ChiNext Index closed up 2.53% at 1580.46 points, with a weekly increase of 2.17%.

2. Last Friday, the Hang Seng Index closed up 1.14% at 17989.07 points, up 2.14% for the week; The Hang Seng Technology Index closed up 2.87% at 3560.61 points, up 2.64% for the week; The state-owned enterprise index closed up 1.34% at 6331.14 points, up 1.8% for the week.

3. Shanghai and Shenzhen Stock Exchanges: In the first half of the year, Shanghai listed companies achieved a total revenue of 2.494 trillion yuan, which was basically unchanged year-on-year; After deducting non recurring expenses, the net profit was 2.26 trillion yuan, a year-on-year increase of 0.3%. As of the end of August, 2837 listed companies on the Shenzhen Stock Exchange disclosed their first half performance, achieving a total revenue of over 9.88 trillion yuan and a net profit of over 480 billion yuan, with nearly 80% of physical listed companies achieving profitability.

4. China Association for Market Regulation: As of August 31, there have been 59 newly listed companies on the stock market this year, with 71% of new companies added to the emerging sectors of the ChiNext, Science and Technology Innovation Board, and Beijing Stock Exchange; A total of 47 companies have been delisted, including 2 companies involved in major illegal activities and 10 companies involved in financial activities.

5. Pengpai News: In the first half of the year, the seven major express delivery companies continued to increase their revenue, with leading stock SF Holding leading the way with a revenue of 100 billion yuan. The performance of "Tongda Express" (Zhongtong, Yuantong, Shentong, Yunda) is also steadily increasing, with a total revenue of 98.072 billion yuan, a year-on-year increase of 13.5%; The net profit totaled 7.503 billion yuan, an increase of nearly 5% year-on-year.

6. Shanghai Stock Exchange News: According to the latest disclosed mid-term report of funds, in addition to Central Huijin Investment's significant "sweeping" of broad-based ETFs, many bullish investors have also been buying ETFs, often worth hundreds of millions of yuan. ETFs have a clear style and low fees, making them an important allocation tool for investors.

7. Interface News: The shareholder meeting of Colin Electric, which has the longest meeting time in the history of A-shares, has come to an end. Prior to the two-day battle, Hisense Network and Shijiazhuang Guotou used various channels to "solicit votes" from small and medium-sized shareholders before the meeting, focusing on the competition for board seats. In the end, Hisense Network was able to obtain a majority of board seats.

8. Baobian Electric: The company has received a notice from its controlling shareholder, Ordnance Equipment Group, that Ordnance Equipment Group is in the process of integrating its power transmission and transformation equipment business with China Electric Equipment Group Co., Ltd. This integration may result in a change in the controlling shareholder of the company.

9. Guangxi Radio and Television (3 consecutive boards): There have been no significant changes in the company's main business, production and operation compared to the information disclosed in the previous period. The company is in a loss making state, with a net profit of -378 million yuan in the first half of the year.

10. * ST Pharmaceutical: Mr. Yang Junxiang, the actual controller, chairman, and general manager of the company, has been detained and investigated by the Zhenkang County Supervision Commission. The matter involved is not related to the company, and the company has not been requested to assist in the investigation.

11. ST Shentian: Due to the closing market value of the company's stocks being below 300 million yuan for 20 consecutive trading days, the company's stocks have been delisted by the Shenzhen Stock Exchange and will be delisted on September 2nd.

12. New stock subscription: This week, there were 3 new stock subscriptions, including 1 on the Shanghai Stock Exchange Main Board, 1 on the ChiNext Board, and 1 on the Beijing Stock Exchange, namely Zhongxin Shares, Huihan Shares, and Zhongcao Spice.

13. Restricted and unlocked: This week, a total of 55 restricted shares were unlocked, with a total of 1.498 billion shares unlocked and a market value of 18.673 billion yuan. Among them, Guoguang Electric ranked first on the unlocking list with 2.945 billion yuan, while Baiwei Storage and China Eastern Airlines Logistics ranked second and third with 2.314 billion yuan and 2.276 billion yuan respectively.


Wealth Focus

1. Securities Times: E Fund's Nasdaq 100 ETF Connect Fund has disclosed its semi annual report, with Changzhou Investment Group, a local state-owned institution, as its largest on exchange shareholder (5.92%), holding the fund for four consecutive years. The fund's on exchange price has risen by 99% over the past four years, while Tsinghua University, which also laid out the fund, failed to double its returns due to premature exit.

2. Tianxiang Investment Advisory: In the first half of the year, public funds achieved investment returns of 45.163 billion yuan, while bond funds and money market funds combined generated investment returns of over 300 billion yuan. Equity products still performed poorly overall.

3. Securities Times: In the first half of the year, brokerage firms' commission income from sub warehousing was 6.774 billion yuan, a year-on-year decrease of about 30%. The vast majority of securities firms have experienced a decline in commission income, with top securities firms generally experiencing a decline of over 20%, and only a few securities firms achieving year-on-year growth.


Industry Observation

1. 2024 World Power Battery Conference: Huawei Executive Director Yu Chengdong stated that in the second half of the development of new energy vehicles, the key is intelligence. Changan Automobile Chairman Zhu Huarong stated that the pursuit of large-scale new energy vehicles goes against the original intention of industry development. Liu Jincheng, Chairman of EVE Energy, stated that enhancing the market value of energy storage batteries cannot rely solely on price reductions.

2. CCTV News: Since its commercial operation on May 28, 2023, the C919 has accumulated over 10000 hours of safe flight, executed over 3700 commercial flights, and carried over 500000 passengers.

3. Cui Dongshu from the China Association of Automobile Manufacturers: Preliminary statistics show that in July, the sales volume of Chinese independent car companies in some overseas regions reached 225000 units, a year-on-year increase of 53% and a month on month increase of 2%; From January to July, the sales of domestic brands in China's overseas markets reached 1.39 million units, a year-on-year increase of 55%.

4. Shanghai Hongqiao Border Inspection: From July to August, a total of 599000 inbound and outbound personnel were inspected, exceeding the passenger flow of the same period in 2019. Among them, there were about 299000 inbound personnel and about 300000 outbound personnel.

5. CCTV Finance: In the first half of the year, the volume of postal express delivery services entering villages in China reached 2.6 billion, a year-on-year increase of 46%. By promoting the sharing of passenger and postal transportation capacity, we can effectively solve the problem of "transportation difficulties" in rural logistics.

6. Chinanews. com: Mount Huangshan's tourist reception volume exceeded 13 million person times for the first time, a record high, up 10% year on year. From January to August, Mount Huangshan received 62.5 million tourists, up 10.2% year on year, and the city's total tourism revenue was 58 billion yuan, up 12% year on year.

7. Lighthouse Professional Edition: As of 21:00 on August 31, 2024, the Chinese mainland film summer season (June 1 to August 31) ended with a box office of 11.64 billion yuan, a total of 285 million viewers, and a total of 38.255 million screenings, breaking the record for the total number of screenings in Chinese film history during the summer season.


Financial data

1. New Third Board: Last week, two new listed companies were added with a transaction amount of 531 million yuan, a month on month increase of 3.62%. As of now, the total number of companies listed on the New Third Board has reached 6095.

2. Last Friday, the onshore Chinese yuan closed at 4:30 pm against the US dollar at 7.0881, up 0.3108% and up 0.6824% for the week; The central parity rate of the Chinese yuan was reported at 7.1124, up 0.2454%, and up 0.3279% 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 430600 tons, with a total transaction volume of 40.5339 million yuan and a closing price of 92.27 yuan/ton, up 2.98% for the week.

4. US stock market: Last Friday, the Dow Jones Industrial Average rose 0.55% to 41563.08 points, up 0.94% for the week; The S&P 500 index rose 1.01% to 5648.4 points, with a weekly increase of 0.24%; The Nasdaq rose 1.13% to 17713.62 points, and fell 0.92% for the week.

5. Europe: Last Friday, the German DAX30 index fell 0.03% to 18906.92 points, up 1.47% for the week; The French CAC40 index fell 0.13% to 7630.95 points, up 0.71% for the week; The FTSE 100 index in the UK fell 0.04% to 8376.63 points, up 0.59% for the week.

6. Gold: Last Friday, COMEX gold futures closed down 0.7% at $2536 per ounce, with a cumulative increase of nearly 1.7% in August.

7. Crude oil: Last Friday, the settlement price of WTI crude oil futures fell 3.11% to $73.55 per barrel, with a cumulative decline of 5.6% in August; The settlement price of Brent crude oil futures fell 1.4% to $78.80 per barrel, with a cumulative decline of 2.4% in August.


Financial Headlines APP: In the first half of the year, 5346 A-share listed companies achieved a total revenue of 34.87 trillion yuan, a year-on-year decrease of 1.41%; The total net profit was 2.9 trillion yuan, a year-on-year decrease of 2.36%. Among them, 56.70% of companies achieved revenue growth, and 48.86% of companies achieved net profit growth. 4172 companies achieved profitability, accounting for 78.04%; There are 47 companies with net profits exceeding 10 billion yuan. Among them, 617 companies had a net profit growth of over 100%, 396 companies had a growth rate between 50% and 100%, and 1599 companies had a growth rate below 50%, accounting for 12%, 7%, and 30% respectively. 2734 companies experienced negative net profit growth.


► Xingye Securities: The cumulative year-on-year growth rates of non-financial revenue/net profit for the first half of 2024 were -0.48%/-5.30%, a decrease of 1.29/0.06 percentage points from Q1 2024; The gross profit margin has significantly increased by 0.15 percentage points compared to Q1 2024, indicating a continued trend of recovery overall. The total non-financial ROE (TTM) for Q2 2024 was 7.48%, up 0.05 percentage points from Q1 2024; The sales net profit margin (TTM) was 4.98%, with a month on month increase of 0.02 percentage points; The asset turnover ratio (TTM) was 61.02%, a decrease of 0.52 percentage points compared to the previous period; The asset liability ratio was 58.08%, an increase of 0.43 percentage points compared to the previous period.


Guoxin Securities: The positive growth rate has generally declined, and the industry's prosperity is still relatively scarce. 1) The expected positive growth rate for the quantity of petroleum and petrochemical, food and beverage, automotive, and public utilities is over 50%, and the expected positive growth rate for the market value is over 75%; 2) Agriculture, social services, electronics, and automobiles have a dominant growth rate, with the median growth rate of automobiles, electronics, petrochemicals, and light industry exceeding 10%; 3) Coal, basic chemical industry, agriculture, non silver marginal improvement; 4) The only industries with overall positive performance and marginal improvement at the enterprise level are agriculture, communications, and non banking.


As of August 31st, 677 listed companies have announced their cash dividend plans for the first quarter and first half of the year, an increase of nearly 500 compared to the same period last year. Among them, 80 companies on the Science and Technology Innovation Board have received mid-term dividends, which is five times that of last year. The total cash dividends reached 531.2 billion yuan, setting a new historical high, with an overall dividend payout ratio of 31.74%. Eleven companies have distributed dividends exceeding 10 billion yuan, with nearly 30% of state-owned listed companies contributing over 80% of the dividends. More than 480 companies have distributed their first semi annual (quarterly) dividends in the past five years, and the number of companies that distribute dividends multiple times a year is gradually increasing.


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