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Weekly Financial Summary 2024-03-25

Date: 2024-03-25
Views: 2

Financial attention

Macroeconomics


1. China Weather Network: Starting from March 23rd, a new wave of cold air will gradually have an impact on China. Over the weekend, temperatures in the north will be the first to drop, with many places experiencing a drop of over 10 ° C. The time for cooling in the south is relatively delayed, and the warm weather on weekends will continue. Some areas may even warm up to challenge the record for the same period throughout the year. 

2. CCTV: Currently, it is the national autumn grain procurement season. As of now, more than 80% of autumn grain purchases in China have exceeded 170 million tons. Through advanced technology, various regions continue to strengthen the supervision of grain purchase and sales. Starting from 2024, the National Grain and Material Reserve Bureau will carry out the "Iron Fist Action" to maintain a high-pressure situation of punishing illegal and irregular behaviors related to grain.


3. Shanghai Stock Exchange News: 360 Smart Brain announced the official internal testing of its 5 million word long text processing function, which will soon enter the 360AI browser. At the same time, the 360AI browser app will also be launched. Previously, the 360AI browser had provided users with a free 1 million word text reading function, allowing them to read "Three Body Problem" in just one minute.


4. CCTV News: The death toll from the serious terrorist attack at the Moscow State Concert Hall has risen to 133. Terrorists used automatic weapons in the attack, and investigators from the Russian Investigation Commission discovered and confiscated these weapons and ammunition. We are currently conducting ballistic, genetic, and fingerprint tests on the physical evidence. In addition, it has been determined that terrorists used flammable liquids to set fire inside the concert hall.


Stock market inventory


1. Shanghai Stock Exchange: The total transaction volume of the Shanghai and Shenzhen stock markets on March 22 was 1097.3 billion yuan, exceeding 1 trillion yuan for the fifth consecutive trading day. Behind the significant increase in trading activity, multiple funds actively entered the market. From the perspective of funding trends, industry insiders believe that foreign investment is one of the main incremental funds in this round of the market.

2. Securities Daily: Private equity institutions have become a positive force in allocating ETFs. Since 2024, among the 29 newly established ETFs, 23 of the top ten fund holders have seen the presence of private equity firms. Private equity institutions actively allocate ETFs, perhaps due to their characteristics of investment diversification, relatively low transaction costs, and convenient buying and selling.


3. Shanghai Stock Exchange: With the stabilization and recovery of bank wealth management business scale, cash management and fixed income products are favored by investors. In this context, the trend of "deposit oriented" bank wealth management is becoming increasingly significant. The structure of wealth management products is showing a trend of "deposit oriented", with a significant increase in the scale of cash management products; On the investment side, wealth management companies are also actively allocating deposits.


4. Securities Daily: Since March, Nord Fund, Jinxin Fund, and Great Wall Fund have successively announced the closure of their direct sales platforms. The closure of fund direct sales platforms is an inevitable result of market competition and resource allocation, and fund companies of different sizes need to develop appropriate sales strategies based on their own situations. Fund companies need to transform their previous sales oriented approach, deeply understand customer needs, and continuously improve service quality in order to operate their fund direct sales platform well. Only then can the "leftover" become the king in the fierce market competition.


5. Didi's revenue in the fourth quarter of 2023 was 49.4 billion yuan, a year-on-year increase of 55.4%; The net profit was 1.1 billion yuan, and the net loss for the same period last year was 704 million yuan. In 2023, the annual revenue was 192.4 billion yuan, a year-on-year increase of 36.6%; The net profit was 535 million yuan, and the net loss for the same period last year was 23.783 billion yuan.


Industry observation


1. Wang Jiangping from the Ministry of Industry and Information Technology: China's software industry has always maintained high-speed growth, with an industrial scale exceeding 12 trillion yuan by the end of 2023, providing strong support for the digital transformation of the economy and society. Deepen industry applications, continuously improve supporting policies, open up high-end scenarios and data resources, and support thousands of industries to accelerate digital transformation through software.

2. China Securities News: Since 2024, hydrogen energy vehicle bidding has been carried out in Zhejiang, Shandong, Shaanxi and other regions, covering hydrogen fuel cell buses, heavy-duty trucks and other vehicle models. Hydrogen energy vehicles, especially hydrogen heavy-duty trucks, have become a key focus for many enterprises. In 2023, the production and sales of hydrogen energy vehicles in China increased by approximately 55% and 72% respectively.


3. China Telecom: Tianyi Cloud Shanghai Lingang's domestically produced Wanka computing power pool has been officially launched, and the first batch of users have settled in. This is the first domestically produced single pool Wanka liquid cooled computing power cluster to be officially put into operation in China. This cluster adopts a "Rubik's Cube" type with network center placement and hierarchical computing power, achieving high-speed interconnection of 10000 cards within a single cluster, meeting the requirements of multi machine multi card parallel, high throughput and lossless communication required for trillions of parameter large model training.


4. On March 23rd, under the supervision and maintenance of the Nantong Maritime Safety Administration, the world's first compressed natural gas (CNG) transport ship was delivered and set sail in Qidong, Jiangsu. After delivery, the compressed natural gas transported per voyage can reach 700000 cubic meters.


5. Shen Xiangyang, a foreign academician of the National Academy of Engineering in the United States: The big model will sweep across all vertical industries. Taking A100 as a reference, if the general large model does not have tens of thousands of cards or trillions of parameters, it is basically difficult to say it is a general model in the future. However, the industry large model is roughly a training scale of one hundred billion cards with hundreds of billions of parameters, while the enterprise large model may have hundreds of cards and tens of billions of parameters.


6. Securities firm China: Hitachi Group of Japan has partnered with Nvidia to combine Hitachi's solutions in the field of operational technology and its leading position in key industries such as energy, mobile, and interconnected systems with Nvidia's expertise in generative AI, accelerating social innovation and digital transformation.


Insight Economics 


1. The European Central Bank: Lowering interest rates as early as April may be justified and should not be ruled out. Given the decline in demand and good economic news, it should not impose too much burden on economic activities.

2. CCTV News: The US Senate has passed a $1.2 trillion government funding bill to avoid a partial shutdown of the US government. Previously, the US House of Representatives passed the bill with a vote of 286 in favor and 134 against. The bill will be submitted to US President Biden for signature and implementation.


Financial data


1. Securities Times: From February 1st to March 22nd, a total of 1343 stocks rose in the Hong Kong stock market, accounting for over 50%. Among them, 114 increased by more than 50%, 40 increased by more than 100%, and 10 increased by more than 200%. The top three companies in terms of increase were Xinxiang Era, Jimu Group, and Boya Interactive, which reached 700%, 366.67%, and 292.72%, respectively.


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