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Weekly Financial Summary 2024-02-26

Date: 2024-02-26
Views: 4

Financial attention

Macroeconomics




1. Central Meteorological Observatory: On February 25th at 6:00 am, a low temperature yellow warning will continue to be issued. It is expected that from 8:00 on February 25th to 8:00 on February 28th, the daily average temperature or minimum air temperature in the southern part of the Huanghuai River, the central and western parts of the Jianghuai River, the Jianghan River, the central and western parts of the Jiangnan River, the western parts of South China, most of Guizhou, the southern part of the Sichuan Basin, and the northern part of Xinjiang will be 5-7 ℃ lower than the same period in normal years.




2. CCTV News: This year marks the tenth anniversary of the rise of coordinated development between Beijing, Tianjin, and Hebei as a national strategy. Over the past decade, the Beijing Tianjin Hebei region has persisted in building a highland for opening up to the outside world, with the total regional foreign trade value increasing from 3.74 trillion yuan in 2014 to 5.03 trillion yuan in 2023, an increase of 34.4%. The total volume of foreign trade has crossed two trillion yuan levels, achieving significant results in coordinated development.




3. Shanghai Stock Exchange News: In 2023, Shanghai and Beijing remained the cities with the highest per capita disposable income among residents, breaking through 80000 yuan for the first time. In addition, cities such as Shenzhen, Guangzhou, Suzhou, Hangzhou, Nanjing, Ningbo, and Xiamen also had per capita disposable income exceeding 70000 yuan. Many county-level cities do not rank inferior to sub provincial cities, such as Yiwu in Zhejiang, which not only ranks first among county-level cities but also second only to Shanghai in the country.




4. The Ministry of Agriculture and Rural Affairs: organized and implemented the 120 day campaign to achieve a bountiful summer harvest of grain and oil, dispatched working groups and technology teams from "rainwater" to "summer solstice" to concentrate on production guidance, yield improvement, disaster prevention and reduction, disease and pest control, and other work, striving for a bountiful summer harvest and laying a solid foundation for the annual grain and oil production.




Stock market inventory




1. Last Friday, the Shanghai Composite Index rose 0.55% to 3004.88 points, up 4.85% for the week; The Shenzhen Composite Index rose 0.28% to close at 9069.42 points, up 2.82% for the week; The ChiNext Index rose 0.02% to close at 1758.19 points, with a weekly increase of 1.81%.




2. Last Friday, the Hang Seng Index closed down 0.10% at 16725.86 points, up 2.36% for the week; The Hang Seng Technology Index closed down 0.30% at 3399.84 points, up 1.71% for the week; The state-owned enterprise index closed up 0.12% at 5765.10 points, up 3.71% for the week.




3. China Fund News: The fee reduction of public funds is continuously advancing, and more and more broad-based ETF products are also joining the "price war". At the beginning of the the Year of the Loong, there were 10 ETF products issued at the lowest rate in the industry. At present, nearly a hundred ETFs in the entire market have adopted the lowest level of rates, accounting for 13% of all stock ETFs.




4. CITIC Construction Investment: Looking back at the real estate and construction sectors since 2023, the high dividend strategy is an effective strategy in the construction sector, with absolute and relative profitability; The application of high dividend strategy in the real estate industry only has relative profitability. The high dividend payout of REITs assets is expected, and it has now fallen to a relatively low level, providing a high cost performance ratio for allocation. Based on historical review and fundamental trends, the performance of high dividend targets in these three sectors will continue to follow the trend of 2023 in 2024.




5. CITIC Securities: With improved capital market regulation, the expected returns of central state-owned enterprises have increased, and the market is expected to enter a repair channel driven by endogenous driving forces. The major shareholders of central state-owned enterprises are increasing their holdings, increasing dividend repurchases, and gradually implementing industrial chain mergers and acquisitions. This is expected to support the sustained market of high-quality blue chips and will also become one of the most important allocation mainlines this year. The impact of trading games on small and micro cap stocks is exceptionally significant, It is expected to be further affected by the pressure of quantitative product redemption in the future, and technology growth catalyzed by industry is expected to become another investment focus this year.




6. Ziguang Guowei: Image AI intelligent chip is a special integrated circuit product, which is a DCNN algorithm acceleration product used for camera image processing. It can be used for object appearance detection, obstacle recognition, and other purposes. It is currently entering the trial production and customer development trial stage.




7. Nine Strong Biotechnology: The wholly-owned subsidiary of the company, Maixin Biotechnology, plans to subscribe to Xiamen Longjin Biotechnology Co., Ltd.'s newly added registered capital of 6 million yuan for 32 million yuan. After the completion of this transaction, Maixin Biotechnology holds a 25.21% equity stake in Longjin Biotechnology.




8. Aixu Co., Ltd.: The company plans to invest in the construction of the Jinan Phase I high-efficiency crystalline silicon solar cell and module project with an annual output of 10GW. The estimated total investment amount of this project is 9.978 billion yuan, which reaches and exceeds 50% of the company's latest audited net assets. The construction period of this project is about 15 months, and it is planned to start construction in the first quarter of 2024. It is expected to be put into operation in the first half of 2025.




9. Restricted shares lifted: This week, a total of 67 restricted shares were lifted, with a total of 5.454 billion shares lifted and a market value of 56.754 billion yuan lifted. Among them, Autoway ranked first on the lifting ban list with 8.111 billion yuan, while Xi'an Bank and Feile Audio ranked second and third with 3.695 billion yuan and 3.386 billion yuan respectively.




Industry observation




1. Ministry of Transport: On February 24th (the 30th day of the Spring Festival travel rush, the 15th day of the first lunar month), the total cross regional personnel flow in society was 170.951 million, an increase of 3.4% month on month, a decrease of 2.6% compared to the same period in 2023, and an increase of 2.2% compared to the same period in 2019.




2. Lighthouse Professional Edition: As of February 25th, the total box office of four films in the 2024 Spring Festival season, including "Hot and Hot", "Flying Life 2", "Article 20", and "Bears in Time and Space", has exceeded 10 billion yuan.




3. Civil Aviation Administration: On February 25th, civil aviation is expected to transport 2.13 million passengers and guarantee 17358 flights; On February 24th, the total number of passengers transported by civil aviation was 1.9758 million, a decrease of 3.91% compared to the previous month. 16923 flights were guaranteed, with Chengdu Beijing, Shanghai Beijing, Sanya Beijing and other routes being the most popular.




4. China Railway Shanghai Group: February 25th (January 16th) is the 31st day of the 2024 Spring Festival travel rush. On that day, China Railway Shanghai Group Co., Ltd. is expected to send 2.8 million passengers, setting a new record for daily passenger volume since the 2024 Spring Festival travel rush.




5. China National Offshore Oil Corporation (CNOOC): Significant new discoveries have been made in the deep oil and gas exploration of the Bohai Sea in China. The newly drilled exploration wells in the Bozhong 26-6 oilfield have achieved a record high production capacity, with over 40 million cubic meters of newly discovered oil and gas reserves and a cumulative proven reserves exceeding 200 million cubic meters.




6. Central Control Technology: We will launch the first AI big model for optimizing and designing the operation of process industry, utilizing massive production operation, process, equipment, and quality data. We will independently develop a Generative AI Algorithm Architecture (AIGC) and integrate industrial multi-source data for training. We will establish a highly generalized and reliable big model for process industry, providing customers with intelligent solutions for AI+safety, AI+quality, AI+efficiency, and AI+low-carbon.




7. China Securities Network: The first factory of Japan Advanced Semiconductor Manufacturing Company (JASM), a subsidiary of TSMC, held its opening ceremony. This factory located in Kumamoto Prefecture, Japan is the first factory opened by TSMC in Japan. TSMC founder Zhang Zhongmou attended the opening ceremony. Japanese Prime Minister Fumio Kishida announced through video that the Japanese government has decided to support the JASM expansion plan.




Financial data




1. Last Friday, the onshore Chinese yuan closed at 16:30 against the US dollar at 7.1984, a decrease of 0.1740%; The central parity rate of the Chinese yuan was 7.1064, down 0.0648%.




2. New Third Board: Last week, 8 new listed companies were added, with a transaction amount of 668 million yuan, a decrease of 30.57% compared to the previous week. As of now, the total number of companies listed on the New Third Board has reached 6226. Since the beginning of this year, the cumulative transaction amount of companies listed on the New Third Board has reached 7.995 billion yuan.




3. Shanghai Environmental Exchange: Last week, the trading volume of carbon emission quota listing agreements in the national carbon market was 36600 tons, with a total transaction amount of 29.4561 million yuan and a closing price of 78.33 yuan/ton, a weekly increase of 4.9%.




4. US stocks: Last Friday, the Dow Jones Industrial Average rose 0.16% to 39131.53 points, up 1.30% for the week; The S&P 500 index rose 0.03% to 5088.80 points, up 1.66% for the week; The Nasdaq fell 0.28% to 15996.82 points and rose 1.40% for the week.




5. Europe: Last Friday, the German DAX30 index rose 0.28% to 17419.33 points, up 1.76% for the week; The French CAC40 index rose 0.70% to 7966.68 points, up 2.56% for the week; The FTSE 100 index in the UK rose 0.3% to 7706.28 points, down 0.07% for the week.




6. Gold: Last Friday, COMEX April gold futures rose 0.92% to $2049.40 per ounce, up 1.71% for the week.




7. Crude oil: Last Friday, the settlement price of WTI crude oil futures fell 2.7% to $76.49 per barrel, down 3.41% for the week; Brent crude oil futures closed 2.45% lower at $81.62 per barrel, down 2.22% for the week.


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