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Weekly Financial Summary 2024-01-29

Date: 2024-01-29
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Financial attention

Macroeconomics




1. Ministry of Transport: On January 26th, the first day of the Spring Festival travel rush, the cross regional personnel flow in the whole society reached 189.352 million, an increase of 9.5% month on month and 19.7% year-on-year. Among them, the national railway passenger volume reached 11.063 million, a month on month increase of 12.1% and a year-on-year increase of 78%. It is expected that more than 12.2 million passengers will be sent on January 27th.




2. Shanghai Mayor Gong Zheng: Last year, a total of 172000 domestic and foreign talents were introduced, a year-on-year increase of 12%. The current total number of talents in the city has exceeded 6.75 million. By implementing the talent peak project and special policies for cultivating key industry talents, a group of strategic entrepreneurs, internationally renowned scholars, and other highly skilled and scarce talents have been introduced.




3. Beijing Catering Industry Association: Strengthen price control, stabilize price levels, avoid public opinion of "sky high" New Year's Eve meals, and maintain market price order during the Spring Festival period. It is strictly prohibited to engage in price fraud activities such as seasonal pricing, non pricing, fictitious original prices, false discounts, low price settlements, and failure to fulfill price commitments.




4. Maersk Shipping Group: Due to the constantly changing situation in the Red Sea, safety risks have significantly increased. In the foreseeable future, some of its shipping services will no longer pass through the Red Sea, but will bypass the Cape of Good Hope in southern Africa. Since the outbreak of the current Israeli Palestinian conflict, multiple cargo ships have been attacked in the waters of the Strait of Mandate and the Red Sea.




Stock market inventory




1. CITIC Construction Investment: Recently, market sentiment has significantly improved with policy support. It is expected that after the index stabilizes led by mid cap and core assets, the valuation recovery market is expected to further spread. In addition, after flattening out during the interest rate hike cycle, gold prices will have a stronger performance during future interest rate cuts. The phase of oil price decline that began in October last year is expected to come to an end, and oil prices are expected to start a new round of upward trend.




2. Securities Daily: The first step in improving financial authenticity is to hold accountable those responsible for financial fraud, and severely crack down on companies or related personnel who fraudulently go public or provide false financial statements. A traceability system without time limits should be established. As long as a listed company engages in financial fraud, regardless of how many years have passed, it should be held accountable instead of being easily overturned.




3. Securities Times: Since the beginning of the new year, the pilot development of Qualified Foreign Limited Partners (QFLP) in China has been in full swing. Multiple QFLP pilot areas such as Chengdu, Yangzhou, and Ningbo have successively launched their first QFLP fund. Currently, all pilot cities are actively promoting the implementation of QFLP funds, but due to the lack of top-level institutional design, the industry calls for the prompt introduction of top-level systems at the national level.




4. Shanghai Stock Exchange News: As of the evening of January 25th, over 80 listed companies have predicted that their performance will turn losses into profits in 2023. Among them, more than 40% of companies are expected to have a year-on-year increase in net profit of over 200% in 2023. The reason why the performance of most listed companies can "turn around" is mainly due to the gradual recovery of market demand, which has driven the continuous growth of product orders.




5. WuXi AppTec: Respond to the four points related to the company in the draft biosafety bill, firmly believing that the development of WuXi AppTec's business will not pose a risk to the security of any country; Never sponsored military civilian integration projects; The selection criteria for the company's life chemistry research award are related to the research experience and abilities of researchers, and a very small number of winners come from research institutes and institutions under the Military Medical Science Academy.




Industry observation




1. Cui Dongshu, Secretary General of the China Association of Automobile Manufacturers: In 2023, the automotive industry's revenue reached 10097.6 billion yuan, a year-on-year increase of 12%; The cost is 8762.7 billion yuan, an increase of 13%; The profit was 508.6 billion yuan, a year-on-year increase of 5.9%; The profit margin of the automotive industry is 5%, which is still relatively low compared to the average profit margin of 5.8% for the entire industrial enterprise.




2. Statistics Bureau: The total profit of the black metal smelting and rolling processing industry in 2023 increased by 157.3% year-on-year. The production and supply of electricity and heat increased by 71.9%, the non-ferrous metal smelting and rolling processing industry increased by 28.0%, the petroleum, coal and other fuel processing industry increased by 26.9%, and the chemical raw material and chemical product manufacturing industry decreased by 34.1%.




3. Securities Daily: Since 2024, five trust companies including Zhongcheng Trust, Shandong Guoxin, and National Trust have experienced changes in their executives. Industry insiders say that since the beginning of this year, the frequency of changes in trust company executives has continued to be as high as last year, mainly due to the continued tightening of regulatory environment and pressure for business transformation. In order to adapt to environmental changes, this year, trust company executives may continue to adjust frequently.




4. Longji Green Energy: Since the fourth quarter of 2023, the prices of the photovoltaic industry chain have dropped to a very irrational position. The pressure of oversupply in the market is significant this year. If the prices of the industrial chain continue to operate at a low level, financially fragile and technologically advanced enterprises may be forced to stop production, reduce production or exit. At that time, the actual supply and demand of the industry will continue to balance, and the prices of the industrial chain may return to rationality.




5. LG New Energy: The global new energy vehicle market growth will temporarily slow down in 2024, with a market growth rate of around 20%. Last year, the global new energy vehicle market grew by 29%. Although affected by the slowdown in the growth rate of new energy vehicles and the decrease in raw material metal prices, it is expected to achieve moderate revenue growth in 2024 by expanding sales in North America.




6. Shanghai Airlines Exchange: This week, the situation in the Red Sea region remains tense and has been ongoing for a long time, and the impact is gradually being digested. As the Spring Festival holiday approaches, the overall transportation demand in the market is showing a weakening trend, with some ocean routes experiencing significant price increases in the early stages experiencing a decline in prices. On January 26th, the comprehensive freight index of Shanghai's export containers was 2179.09 points, a decrease of 2.7% from the previous period.




7. The State Administration of Radio, Film and Television: From October to December 2023, the national broadcasting and television regulatory authorities issued distribution licenses for a total of 476 domestically produced network dramas with 7967 episodes. Among them, there are 46 web dramas with 1172 episodes, 153 web mini dramas with 3532 episodes, 92 web movies, and 185 web cartoons with 3171 episodes.




8. US Secretary of Commerce: Exploring how to mandate US cloud computing companies to notify the Department of Commerce every time non US entities use their cloud computing to train large language models.




Financial data




1. China Fund News: The fully disclosed Q4 2023 report shows that the total size of publicly offered quantitative fund products at the end of 2023 has approached 300 billion yuan, an increase of 25% from the end of 2022 and a new high since 2018. Both active quantitative funds and index based quantitative funds have achieved positive growth in size, but quantitative hedge funds have experienced significant shrinkage. The development of different types of quantitative fund products varies, mainly influenced by multiple factors such as product strategy, performance, and market conditions.


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