Summary

kunbo seiko applied for new shares today;

U.S. CPI in October was lower than expected. The three major U.S. stock indexes rose across the board, and the Nasdaq rose more than 2%;

Central Bank: build a credit system covering the whole society and promote the high-quality development of the credit industry;

Ministry of Culture and Tourism: Continue to deepen cultural, tourism and financial cooperation;

15 cities to launch the first batch of public sector vehicles full electric pilot;

Guangzhou: the housing provident fund implements "recognizing the house but not the loan", and the minimum down payment ratio for the first suite of provident fund loan is 20%;

China Audiovisual and Digital Publishing Association solicits opinions on the group standard of "Application Guide for Generative Artificial Intelligence Technology in Publishing Industry";

Huasoft New Power: some of the private equity fund products under management, due to the default of Huisheng Private Equity, resulting in payment difficulties.

Overnight outside

All three major U.S. stock indexes rose. By the close, the Dow was up 1.43 percent, the Nasdaq was up 2.37 percent and the S & P 500 was up 1.91 percent. Large technology stocks rose, Nvidia, Microsoft are all-time closing highs, Nvidia achieved ten consecutive gains. Specifically, Tesla rose more than 6%, Intel rose more than 3%, Amazon, Nvidia, Facebook parent Meta rose more than 2%, Microsoft rose nearly 1%. Popular Chinese stocks rose, Xiaopeng cars rose more than 8%, Weilai rose nearly 5%, Jingdong, Weipin, Tencent Music, Bilibili rose more than 3%, Aiqiyi, Baidu rose more than 2%, Alibaba rose nearly 2%.

On the same day, according to data released by the US Bureau of Labor Statistics on November 14, the US CPI rose 3.2 per cent year-on-year in October, below market expectations of 3.3 per cent and 3.7 per cent last month; the core CPI, which excludes food and energy costs, slowed slightly to 4 per cent from 4.1 per cent last month and fell to its lowest level since September 2021.

All three major European indices rose. By the close, Britain's FTSE 100 was up 0.23 per cent, France's CAC 40 was up 1.36 per cent and Germany's DAX 30 was up 1.66 per cent.

Hotspot Focus

1. Central Bank: Build a credit reporting system covering the whole society to promote the high-quality development of the credit reporting industry

According to news from the People's Bank of China on November 14, the People's Bank of China's Credit Investigation Administration issued a column entitled "Building a Credit Investigation System Covering the Whole Society to Promote the High-Quality Development of the Credit Investigation Industry", stating that it adheres to the two-wheel drive direction of "government market". Promote the construction of the central bank's basic credit investigation and market-oriented credit investigation system. We will continue to improve the basic database of financial credit information, expand the types of credit information, enrich service channels, and consolidate the position of the central bank as a basic credit service; we will deepen the construction of a service platform for accounts receivable financing and a unified registration and publicity system for movable property financing, and help the industrial chain and supply chain to circulate in a virtuous circle. Based on market demand and guided by the release of the vitality of data elements, we will promote the development and growth of credit agencies and provide diversified credit products and services. Deeply promote the construction of local credit information platforms, further optimize the system and mechanism of credit information sharing and application in the fields of local government affairs and public utilities, and enhance the ability of sustainable development. Support the entry of powerful fintech forces into the rating market, encourage the integration and growth of stock institutions, enhance market strength and improve the overall quality of the industry. Create a healthy and orderly rating ecological environment and enhance the independence and credibility of rating agencies. Encourage rating agencies to "go global", expand the overseas rating market, and enhance international competitiveness and international influence.

2. Ministry of Culture and Tourism: Continue to deepen cultural, tourism and financial cooperation

according to the Ministry of culture and tourism, on November 14, the national cultural and tourism project construction and investment and financing conference was held in Shanghai. The meeting requested that it is necessary to fully understand the important role of finance and social capital in promoting the construction of cultural and tourism projects and industrial development, continue to deepen cultural, tourism and financial cooperation, and build a high-level investment and financing service system. It is necessary to implement the strategy of driving major cultural industry projects, do a good job in project planning, demonstration and reserve, revitalize and enhance tourism stock projects, and do better and stronger incremental projects. It is necessary to make full use of fiscal, taxation and financial policies, realize the dual optimization of financing and investment, and create a new situation in the construction of cultural and tourism projects and investment and financing.

3, 15 cities to start the first batch of public sector vehicles full electric pilot

A few days ago, eight departments including the Ministry of Industry and Information Technology and the Ministry of Transport officially issued the ''Notice on Launching the First Batch of Pilot Zones for Full Electrification of Public Sector Vehicles'', identifying 15 cities including Beijing, Shenzhen, Chongqing, Chengdu, and Zhengzhou as the first Pilot area. According to the expected goal of the notice, the promotion of new energy vehicles will focus on official vehicles, city buses, sanitation vehicles, taxis, postal express vehicles, city logistics and distribution vehicles, airport vehicles, heavy trucks in specific scenes and other fields, and the number of promotion is expected to exceed 600000 vehicles. In terms of charging and exchanging infrastructure, more than 700000 charging piles and 7800 exchange power stations will be built.

4. Guangzhou: the minimum down payment ratio for the first suite of housing provident fund loan is 20%

The Guangzhou Housing Provident Fund Management Center issued a notice on matters related to the optimization of individual housing provident fund loans, which stated that the number of housing units under the family's name is based on the ''Guangzhou Natural Person Real Estate (Land, Housing) Information Query Results "It shows that the family (including all family members) has owned housing units. For families who buy the first house in Guangzhou, the minimum down payment ratio of provident fund loans is 20%. For families who have no housing loan (including commercial housing loan and provident fund loan, the same below) records or housing loan records have been settled and have one house in Guangzhou, the minimum down payment ratio of provident fund loan is 30%. For families with outstanding housing loan records and owning one house in Guangzhou, the minimum down payment ratio of provident fund loans is 40%.

5, "IPv6 private network technology white paper" will be released on the 17th

On November 17, the "IPv6 Private Network Industry Forum" hosted by the Committee of Experts on Promoting IPv6 Scale Deployment and Application will be held in Beijing. The "IPv6 Private Network Technology White Paper" will be released at the forum. At the forum, the IPv6 scale deployment and application expert committee will also jointly launch the IPv6 private network evolution initiative with various industries, aiming to promote the IPv6 private network concept in various industries and accelerate the IPv6 technology evolution, network construction and application innovation.

6. China Audiovisual and Digital Publishing Association solicits opinions on the group standard of "Guidelines for the Application of Generative Artificial Intelligence Technology in Publishing Industry"

The China Audiovisual and Digital Publishing Association issued a notice. Recently, the "Guidelines for the Application of Generative Artificial Intelligence Technology in the Publishing Industry" group standard has completed the drafting of the draft for comments. The group standard is now widely soliciting opinions from the entire industry. This document is prepared in accordance with the compilation requirements of GB/T 1.1-2020-Guidelines for Standardization-Part 1: Structure and Drafting Rules for Standardization Documents, and specifies the basic principles, main application scenarios, management mechanisms, intellectual property rights and security guarantees for the application of generative artificial intelligence technology in the publishing industry.

7, China soft new power: management of some private equity fund products, due to Huisheng private equity default behavior led to payment difficulties

Beijing Huaruan New Power Private Equity Fund Management Co., Ltd. announced that recently, some media released information related to the private equity products of Beijing Huaruan New Power Private Equity Fund Management Co., Ltd. without the authorization of the company. In view of this, the company declares as follows: Up to now, the final actual investment managed by the company has been part of the private equity products of Shenzhen Huisheng Private Equity Fund Management Co., Ltd. (hereinafter referred to as "Huisheng Private Equity", Registration Number P1061345 "), payment difficulties due to default by Huisheng Private Placement. In order to protect the legitimate rights and interests of investors, the company will continue to disclose information to investors of related fund products in response to major breaches of Huisheng Private Equity, and take legal measures against Huisheng Private Equity and related links to do its utmost to realize the legality of investors rights and interests. The company is currently operating continuously, and the rest of the fund products under management are operating normally. The company will continue to operate in compliance with a prudent and responsible attitude.

Theme Opportunity

1, China will promote the high-quality development of the credit industry to release the vitality of data elements

The People's Bank of China Credit Management Bureau published a column entitled "Building a Credit System Covering the Whole Society to Promote the High-Quality Development of the Credit Industry". Among them, it is proposed to promote the development and growth of credit reporting agencies based on market demand and the release of data element vitality, provide diversified credit reporting products and services, and further promote the construction of local credit reporting platforms. At present, the credit system has become the core component of the social credit system and the system of the long-term mechanism of social integrity. The development of the credit system has far-reaching social significance. According to calculations by Northeast Securities, the current credit inquiry market of the People's Bank of China is 9.45 billion yuan, my country's personal credit report inquiry business market is 18.9 billion yuan, and the broad personal credit investigation business market is 27 billion yuan. In the long term, the total market space of China's personal credit business can reach 34.7 billion yuan. Can be concerned about the small commodity city, the new continent and so on.

2, technology application milestone central bank digital currency collaboration organization was formally established

Recently, the Central Bank Digital Currency Collaboration (CBDCCO) officially announced its establishment and held its first closed-door meeting in Munich, Germany. This is an unprecedented new initiative and marks a milestone in the application of central bank digital currency (CBDC) technology, especially in the adoption of innovative solutions to promote efficient and reliable carbon infrastructure and settlement as the preferred scenario. According to reports, the Central Bank Digital Currency Collaboration has about 40 important representatives from many countries to participate in the board of directors, and will further expand to invite other organizations and governments to participate in order to create a global sustainable and inclusive common financial future. The data shows that 19 of the G20 countries are at an advanced stage of CBDC development, and nine of them are already at the pilot stage. The biggest advantage of digital currency is decentralization, which makes it more secure and private. With the continuous development of digital currency technology and the continuous maturity of the market, digital currency will be more and more widely used in various fields. Can pay attention to the creation of science and technology, science and technology information and so on.

3, affordable housing and urban village reconstruction construction speed up is expected to support the bottom of the industrial chain investment

The China Economic Times published on November 14 published "Focus on the" New Housing Reform "and Develop Affordable Housing Construction." It is mentioned that expanding the supply of affordable housing and providing affordable housing for new citizens, young people and other groups will help them reasonably release their housing demand based on their purchasing power and provide support for the stable and healthy development of the real estate market. In the future, China's housing supply system will undergo significant changes, and the status of affordable housing is expected to be significantly improved. It is also noted that Shanghai is speeding up the expansion of capacity to promote the "two old villages and one village renovation. This year, it has completed the renovation of 85200 square meters of sporadic old buildings and 280000 square meters of daily housing, and started the renovation of 10 villages in the city. CITIC Securities believes that stabilizing the real estate industry chain is inseparable from policies that encourage reasonable housing demand, but it depends more on structural reform measures. The impact of urban allocation of land for the construction of affordable housing may be more direct, while the impact of hard-bone urban village reconstruction is more long-term. Both reforms are likely to increase the business scope of development enterprises and prop up investment in the industrial chain that is clearly down. You can pay attention to Leo planning, Suzhou planning, etc.

Company News

1, Huazheng new materials: the company and related personnel received Zhejiang securities regulatory bureau warning letter

Huazheng New Materials (603186) announced on the evening of November 14 that the company and related personnel received a warning letter from Zhejiang Securities Regulatory Bureau on the same day. The content showed that recently, the company responded to questions about 5.5G related products and technologies on the interactive investor relations platform of Shanghai Stock Exchange, and failed to objectively and completely introduce and reflect the proportion of the company's related product business.and the impact on the company's performance. Zhejiang Securities Regulatory Bureau decided to warn the company and Yu Gao, secretary of the board of directors of the company, and record it in the integrity file of the securities and futures market.

2, Beite Technology: the company's indirect supply of models to Huawei has no significant impact on the company's performance

Beite Technology (603009) issued a stock trading change announcement on the evening of November 14. The company is not a direct supplier of Huawei, but only a secondary supplier. It has no contact with Huawei and has no direct business dealings with Huawei. The company indirectly supplies steering gear rack, gear, shock absorber piston rod and other products to Huawei's series of models through first-tier suppliers. The company realized revenue of 204600 yuan from January to June 2023, accounting for 0.02 of the company's main business income, accounting for a very small proportion, which has no significant impact on the company's performance.

3, style shares: the holding company intends to invest 1.2 billion yuan to build Yueyang county new energy industry chain base project

Fengfan shares (601700) announced on the evening of November 14 that Yangzhou jingying, a wholly-owned subsidiary of Suzhou jingying, the company's holding subsidiary, plans to sign an investment agreement with Yueyang county people's government to build a new Yueyang county new energy industry chain base project. after the agreement is signed, Yangzhou jingying will register and establish a wholly-owned legal company in Yueyang county. The total investment of the new energy industry chain base project is about 1.2 billion yuan, of which the distributed photovoltaic power generation project is about 0.7 billion yuan and the 2GW photovoltaic module intelligent manufacturing industry project is about 0.5 billion yuan.

4. trinity energy: it is planned to build trinity Jilin Changling scenery hydrogen storage ammonia digital demonstration project in 6.5 billion yuan

Sany Heavy Energy (688349) announced on the evening of November 14 that the company plans to sign the "Investment Agreement for Scenery Hydrogen and Ammonia Storage Digital Demonstration Project" with Changling County People's Government of Songyuan City, and plans to invest in the construction of Sany Jilin Changling Scenery Hydrogen and Ammonia Storage Digital Demonstration Project, I .e. to invest in the construction of scenery hydrogen and ammonia storage integrated industry in Changling County of Songyuan City, and to build photovoltaic, wind power generation power stations, transmission lines, power plants, transmission lines, and alcohol plants, storage and storage facilities. The total investment of the project is expected to be 6.5 billion yuan, and the final total investment shall be subject to the actual investment. The source of funds is the company's own funds and self-financing.

5, Yong Silicon Electronics: Subsidiary to invest in high-density and hybrid integrated circuit packaging test project

Yong Silicon Electronics (688362) announced on the evening of November 14 that in order to expand the company's market scale in the integrated circuit packaging and testing industry, the holding subsidiary Yong Silicon Semiconductor (Ningbo) Co., Ltd. intends to invest in the construction of high-density and hybrid integrated circuit packaging The total amount of the test project is expected to not exceed 2.16 billion yuan. It is expected that the project will be completed and put into production, with an additional annual output of 870 million high-density and hybrid integrated circuit package tests.

6. depending on the source shares: it is planned to invest 4.2 billion yuan to build the global headquarters base project of depending on the source shares

depending on the source shares (002841) announced on the evening of November 14 that it plans to invest 4.2 billion yuan with its own or self-raised funds to build the "depending on the source shares global headquarters base project". this construction mainly includes the research and development office buildings and experimental centers required by the research and development center, information center and supply chain center of depending on the source shares global headquarters, it is used to carry out technical pre-research and product development in the fields of commercial display and audio and video equipment, computing equipment, power electronics, robotics and artificial intelligence.

7. Huadong Medicine: Signed Equity Investment Agreement and Exclusive Product Distribution Agreement with Chongqing Yuyan

east China medicine (000963) announced on the evening of November 14 that its wholly-owned subsidiaries xinkeli aesthetics, Hangzhou production investment and gongshu state investment jointly signed an equity investment agreement with Chongqing yuyan pharmaceutical co., ltd. (hereinafter referred to as "Chongqing yuyan") and its shareholder representatives. each investor subscribed for a total of 8.5714 equity of Chongqing yuyan with a total of 0.3 billion yuan. Among them, Xinkeli Aesthetics contributed 0.15 billion yuan, after the transaction, it holds a 4.2857 per cent stake in Chongqing Yuyan. On the same day, the Company signed an Exclusive Distribution Agreement with Chongqing Yuyan to obtain the exclusive commercial rights and interests of the restructured botulinum toxin type A YY001 products owned by Chongqing Yuyan in the field of medical and aesthetic indications in Chinese mainland, Hong Kong Special Administrative Region and Macao Special Administrative Region. The company will pay Chongqing Yuyan the head of 50 million and the maximum registered milestone payment of no more than 0.1 billion yuan.

Financial Calendar

editor: Zhang Qian

Proofread: Yao Yuan