Abstract: China Securities Regulatory Commission: It is necessary to actively work with relevant parties to make greater efforts to coordinate the implementation of various measures to stabilize the market. The CSRC has cracked down on fraudulent issuance, financial fraud and other information disclosure violations in accordance with the law. In 2024, the Central Committee's No. 1 document was published, proposing a "road map" to promote the comprehensive revitalization of the countryside ". State-owned central enterprises this year will speed up the layout to cultivate new quality productivity. The State Administration of Financial Supervision issued three documents, including the Measures for the Administration of Liquidity Loans. Supreme Inspection: Investor protection is the top priority in handling securities cases. WuXi AppTec : The company does not have a human genomics business and does not collect human genome data for its existing businesses.

Hotspot Focus

1. CSRC: to actively work with relevant parties to make greater efforts to coordinate the implementation of various measures to stabilize the market

On February 4, Yi Huiman, Secretary of the Party Committee and Chairman of the China Securities Regulatory Commission, presided over a party committee meeting to convey, study and implement the spirit of relevant meetings of the State Council, and deploy work to maintain the stability of the capital market. The meeting proposed that it is necessary to accelerate the investigation and visit of listed companies, effectively solve specific difficulties and problems, and increase support for high-quality listed companies. Strict entry of listed companies, increase de-listing efforts, and vigorously improve the quality of listed companies. It is necessary to thoroughly investigate clues of violations of laws and regulations, and severely crack down on major violations such as market manipulation, malicious short selling, insider trading, and fraudulent issuance in accordance with the law. We should encourage and support all kinds of investment institutions to increase the counter-cyclical layout and guide more medium-and long-term funds into the market. We must listen carefully to the voices of investors, respond to investors' concerns in a timely manner, and protect the legitimate rights and interests of investors. The meeting emphasized that it is necessary to actively work with relevant parties to make greater efforts to coordinate the implementation of various measures to stabilize the market, stabilize expectations, stabilize confidence, and resolutely prevent abnormal market fluctuations.

2, the CSRC in accordance with the law to crack down on fraudulent issuance, financial fraud and other information disclosure violations

According to the China Securities Regulatory Commission, combating fraudulent issuance and financial fraud is a systematic project that requires the joint promotion of all sectors of society. In the next step, the China Securities Regulatory Commission will comprehensively implement policies in terms of improving discovery capabilities, improving working mechanisms, strengthening accountability, and highlighting the combination of combat and prevention, continuously eradicate the breeding ground for fraud, effectively maintain the foundation of market integrity, and protect the legitimate rights and interests of investors. The first is to improve the clue discovery mechanism, comprehensively use diversified clue discovery channels such as on-site inspection, annual report supervision, and public opinion monitoring, increase the investigation of clues on suspected fraudulent issuance and financial fraud, and insist on hitting the clues as soon as they appear, and hitting the small as early as possible. Protect the rights and interests of investors. The second is to punish relevant illegal cases severely and quickly. It is necessary to make full use of the "property penalty" and "qualification penalty" of administrative punishment, and to strengthen the connection and cooperation with the public security organs, and transfer all companies and individuals suspected of criminal crimes. Investigate criminal responsibility. At the same time, we will continue to promote a sound civil compensation mechanism to provide tangible compensation to investors. The third is to adhere to "multiple investigations in one case", comprehensively investigate the relevant intermediary agencies involved in the case, increase punishment for intermediary agencies with bad illegal nature and serious circumstances, and urge them to perform their duties as "gatekeepers. Fourth, we should pay attention to both punishment and prevention, promote the establishment of a regular working mechanism for multi departments to jointly prevent and crack down on financial fraud, strengthen the positive guidance of standardized operation, and achieve the goal of treating both the symptoms and the root causes. In addition, the near future is a critical period for the formal disclosure of the annual report, and the majority of listed companies are also invited to take the case as a warning to ensure that the information disclosure is true, accurate and complete.

3, 2024 central document no 1 released a "road map" to promote rural comprehensive revitalization

Since the 18th National Congress of the Communist Party of China, the 12th Central Document No. 1 guiding the work of "agriculture, rural areas and farmers" was released on the 3rd, proposing a "road map" for effectively and effectively promoting the comprehensive revitalization of rural areas ".

This document is entitled "Opinions of the Central Committee of the Communist Party of China and the State Council on Learning and Applying the Experience of the" Thousand Villages Demonstration and Ten Thousand Villages Renovation "Project to Effectively and Effectively Promote the Comprehensive Revitalization of Rural Areas". It includes: ensuring national food security and ensuring that large-scale return to poverty occurs, improving the level of rural industrial development, improving the level of rural construction, improving the level of rural governance, and strengthening the party's overall leadership.

The document pointed out that to promote Chinese-style modernization, we must unremittingly consolidate the agricultural foundation and promote the comprehensive revitalization of rural areas. It is necessary to learn and apply the development concepts, working methods and promotion mechanisms contained in the "Ten Thousand Thousand Project", take the promotion of comprehensive rural revitalization as the overall starting point of the "three rural" work in the new era and new journey, adhere to the people-centered development concept, and be complete and accurate, Fully implement the new development concept, implement measures in accordance with local conditions, implement classified policies, proceed step by step, and work for a long time, and concentrate on doing a group, continued substantive progress and phased results.

4, state-owned central enterprises will speed up the layout this year to cultivate new quality productivity

The State-owned Assets Supervision and Administration Commission of the State Council recently deployed the 2024 investment work to promote the state-owned central enterprises to focus on the main responsibility of the main industry, the development of the real economy, actively expand effective investment, optimize the investment layout structure, of which speeding up the layout to cultivate new quality productivity is one of the focus. Focusing on the development of new quality productivity, the State-owned Assets Supervision and Administration Commission of the State Council proposed to vigorously promote the industrial renewal of central enterprises and the launch of future industries, focus on new industries, new models and new kinetic energy, adhere to long-termism, and increase layout; insist on investing in new and early investment, through Equity investment, fund investment, etc., in the strategic emerging industries, a group of specialized new enterprises and unicorn enterprises with great potential and good growth.

5. The State Administration of Financial Supervision issued three documents including the Measures for the Administration of Working Capital Loans

The State Administration of Financial Supervision and Administration issued the Measures for the Administration of Fixed Asset Loans, the Measures for the Administration of Working Capital Loans and the Measures for the Administration of Personal Loans. The key contents of this revision include: first, reasonably broaden the use of fixed asset loans and working capital loans and the scope of loan objects, optimize the calculation requirements of working capital loans, and meet the actual needs of the credit market. The second is to adjust and optimize the standard of entrusted payment amount, moderately extend the time limit requirement of entrusted payment, and enhance the flexibility of entrusted payment. Third, combined with the online demand for credit processing, clear video interviews, off-site investigations and other forms of processing, to adapt to new financing scenarios. Fourth, clarify the loan term requirements, guide commercial banks to effectively prevent the risk of loan term mismatch, and further optimize the loan structure. Fifth, further strengthen credit risk management and control, and promote commercial banks to improve the standardization of credit management. Sixth, the "Project Financing Business Management Regulations" as a special chapter into the "Fixed Asset Loan Management Measures". The promulgation and implementation of the "Three Measures" is an important measure to improve the credit management system of my country's banking financial institutions, which is conducive to further promoting banking financial institutions to improve their credit management capabilities, prevent financial risks, and improve the quality and efficiency of financial services.

6. Supreme inspection: investor protection is the top priority in handling securities

On the morning of February 4, Zhang Xiaojin, Director of the Fourth Procuratorate of the Supreme People's Procuratorate, stated in an online interview with the Supreme People's Procuratorate that "fully implement Xi Jinping's rule of law and handle every case with high quality and efficiency", strictly investigate and deal with securities crimes in accordance with the law., Adhere to the main tone of "strict", strictly and throughout the chain to prosecute financial fraud, embezzlement of listed company assets, insider trading, market manipulation, "rat warehouse, promote the formation of a legalized market environment that dare not commit crimes, cannot commit crimes, consciously regulate and do not step on the red line.

"investor protection is the top priority in handling securities cases. The procuratorial organs always carry out the whole process of handling the case, adhere to the 'should be pursued as much as possibly', strengthen cooperation with the securities supervision, public security, courts and other relevant departments, and do a good job in the case of property seizure, seizure and freezing work supervision. Supervise and guide the people involved in the case to take the initiative to return the stolen goods. Support securities disputes in accordance with the law, special representative litigation, multi-ways to protect the rights and interests of investors." Zhang Xiaojin said that in the past year, procuratorial organs have further unified judicial standards for law enforcement and continuously consolidated the legal foundation for the healthy development of the capital market. The Supreme People's Procuratorate, together with the Supreme Law, the Ministry of Public Security, and the China Securities Regulatory Commission, revised the Opinions on Several Issues Concerning the Handling of Securities and Futures Criminal Cases, jointly issued typical cases of private equity fund crimes, revised judicial interpretations of insider trading, and compiled and issued guiding cases of securities crimes, To consolidate the legal foundation for "zero tolerance" accountability, and provide strong support for accelerating the construction of a standardized, transparent, open, dynamic and resilient capital market.

Theme Opportunity

1, 2024 central no 1 document announced to promote the expansion of biological breeding industrialization

On February 3, the Central Committee of the Communist Party of China and the State Council issued the "Opinions on Learning and Applying the Experience of the" Thousand Village Demonstration and Ten Thousand Village Renovation "Project to Effectively and Effectively Promote the Comprehensive Revitalization of Villages". The "Opinions" are the 12th since the 18th National Congress of the Communist Party of China. The No. 1 central document guiding the work of "agriculture, rural areas and farmers. The document consists of 6 parts, including: ensuring national food security, ensuring that large-scale return to poverty does not occur, improving the level of rural industrial development, improving the level of rural construction, improving the level of rural governance, and strengthening the party's overall leadership over the "three rural" work.

The "Opinions" pointed out that it is necessary to improve the joint research and development and application cooperation mechanism, increase the key core technologies of provenances, and accelerate the selection and promotion of independent high-quality varieties urgently needed for production. In addition, it is proposed to promote the expansion of biological breeding industrialization. Enhancing the level of agricultural science and technology and promoting the expansion and acceleration of biological breeding, on the one hand, can effectively guarantee my country's food supply, on the other hand, it can effectively improve the comprehensive competitiveness of my country's food research and development, and genetically modified technology is expected to advance steadily. Under the guidance of the "Opinions", it is expected that my country will continue to promote key agricultural core technologies. This year's expansion and speed-up of biological breeding terms show the policy's emphasis on promoting technological development, and genetically modified technology is expected to advance steadily. Related concept companies have Longping Gaoke, Dabei Nong and so on.

2, industry chain leader actively see more, heavy truck market first month month-on-month increase

according to the latest data from the first commercial vehicle network, in January 2024, China's heavy truck market sold about 80000 vehicles, up 54% from December 2023, up 64% from 49000 vehicles in the same period in 2023, with a net increase of more than 30000 vehicles. In January 2024, China's overseas export sales of heavy trucks continued to grow, and the year-on-year growth rate is expected to exceed 30%. In addition, data disclosed by Hanma Technology also showed that 389 electric medium and heavy trucks were sold in January, up 263.55 percent from a year earlier, while 282 hydrogen-alcohol power systems were sold, up 432.08 percent from a year earlier. The company said that the reasons for the large year-on-year increase in production and sales in January were that the same period in 2023 coincided with the Spring Festival of the Year of the Rabbit, and production and sales decreased; second, benefiting from the gradual recovery in demand for heavy trucks, the company's business volume began in the second half of 2023. Steady increase.

it is understood that another special reason for the high growth of the heavy truck industry in January this year is that most heavy truck enterprises were relatively "Buddhist" in December last year. instead of rushing at the end of the year, they focused on the first quarter of 2024. therefore, the sharp rise in invoicing sales in January was the inevitable result of the decline in overall sales in the industry in December last year. In addition, part of the sales of 80000 vehicles in January was invoiced sales carried over from the end of last year. As the overall market growth exceeded expectations in 2023, several major enterprises have basically completed the annual target tasks set at the beginning of the year, and some enterprises have chosen to "carry forward" part of the invoicing sales volume at the end of last year to this year, which has also objectively pushed up the total sales volume of the industry in January 2024. The industry believes that the realNow it's a good start. We can't just look at January. The first quarter is crucial. Since the terminal demand will not start gradually until at least the second half of February after the year, how prosperous the traditional peak season in March will be will determine the performance of the heavy truck market throughout the first half of 2024. The agency believes that based on the driving factors such as the continuous improvement of the domestic macroeconomic situation, the high demand in overseas markets and the renewal demand, the sales volume of the whole industry is expected to reach 1.15 million vehicles in 2024, with a year-on-year increase of 26%; at the same time, the sales volume of heavy trucks is expected to usher in a high business cycle of 3-5 years, and the industrial chain enterprises will benefit significantly. Related concept companies have China Heavy Truck, Weichai Power and so on.

3, state-owned central enterprises will accelerate the layout of this year to cultivate new quality productivity, these enterprises in the strategic emerging industries layout

According to media reports, on February 2, the State-owned Assets Supervision and Administration Commission of the State Council recently deployed the 2024 investment work to promote state-owned central enterprises to focus on the main responsibility of the main business, develop the real economy, actively expand effective investment, optimize the investment layout structure, among which accelerating the layout and cultivating new quality Productivity is one of the key points.

On the afternoon of January 31, the Political Bureau of the CPC Central Committee conducted the 11th collective study on the solid promotion of high-quality development. This collective study made a comprehensive explanation and systematic deployment of the development of new quality productivity, and released important signals for the promotion of high-quality development. New quality productivity is an advanced productivity quality that plays a leading role in innovation, gets rid of the traditional economic growth mode and productivity development path, has the characteristics of high technology, high efficiency and high quality, and conforms to the new development concept. Focusing on the development of new quality productivity, the State-owned Assets Supervision and Administration Commission of the State Council proposed that it is necessary to vigorously promote the industrial renewal of central enterprises and the launch of future industries, and increase the layout around the new industry, new models and new momentum; insist on investing in new and early investment, through equity investment, Fund investment and other methods, in the field of strategic emerging industries to deploy a number of high-potential, good growth specialized new enterprises and unicorn enterprises. SASAC proposed to promote the deep integration of digital intelligence technology and the real economy, and moderately advance the construction of 5G, data center, computing center and other infrastructure. Related concept companies have Zhongke Shuguang, Electric Branch Digital and so on.

Company News

1, cedar shares : proposed 0.25 billion yuan -0.5 billion yuan repurchase shares

Shanshan shares (600884) announced on the evening of February 4 that the company intends to buy back shares at 0.25 billion yuan to 0.5 billion yuan at a repurchase price of no more than 18.60 yuan per share. The repurchased shares will be used for sale and the portion of the overdue sale will be written off in accordance with the law.

2, trinity energy : the chairman proposed to increase the amount of shares repurchased to 0.3 billion yuan -0.5 billion yuan

Sany Heavy Energy (688349) announced on the evening of February 4 that the company received a proposal from Chairman Zhou Fugui to increase the repurchase efforts on the basis of the original repurchase plan announcement, and increase the upper limit of the repurchase amount to 0.5 billion yuan, And not less than 0.3 billion yuan.

3, shuijingfang : the chairman proposed to buy back shares at 0.075 billion yuan -0.15 billion yuan

Shuijingfang (600779) announced on the evening of February 4 that Fan Xiangfu, chairman of the company, proposed that the company buy back shares at 0.075 billion -0.15 billion yuan for employee stock ownership plan or equity incentive.

4, Murray cloud : proposed termination of major assets reorganization matters

Meiliyun (000815) announced on the evening of February 4 that the company originally planned to purchase 100 of Tianjin Juyuan New Energy Technology Co., Ltd. held by Tianjin Lishen Battery Co., Ltd. through major asset replacement and issuance of shares to purchase assets.% Equity and 100% equity of Lishen Battery (Suzhou) Co., Ltd. at the same time plan to raise supporting funds. Based on the recent changes in the market environment and other factors, the parties to the transaction believe that it is uncertain to continue to promote this major asset restructuring at this stage. After careful study, the company and the parties to the transaction to negotiate the termination of this major asset restructuring matters.

5. WuXi AppTec : The company has no human genomics business and does not collect human genome data

WuXi AppTec (603259) issued a further announcement on clarification on the evening of February 4. As a global company with operating bases in Asia, Europe and North America, WuXi AppTec provides a variety of integrated research and development and production services to empower the global pharmaceutical and medical industry. The company does not have a human genomics business, and the company does not collect human genome data. And the company is not affiliated with any government or its military organizations. The company firmly believes that WuXi AppTec has not, is not, and will not pose a national security risk to any country in the past, and therefore should not be predefined as a "biotechnology company of concern" in the draft ".

6, wanhua chemical :2023 net profit 16.814 billion yuan up 3.57% year on year

Wanhua Chemical (600309) released a performance bulletin on the evening of February 2, with operating income of 175.361 billion yuan in 2023, an increase of 5.92 percent over the same period last year; net profit attributable to the parent was 16.814 billion yuan, an increase of 3.57 percent over the same period last year; and basic earnings per share was 5.36 yuan. The company will take measures to effectively "improve quality, efficiency and return", insist on providing investors with continuous and stable cash dividends, and combine the company's operating status and business development goals, and continue to increase project investment in related fields in accordance with the company's strategic plan.

7. Lizhong Group : Obtain the customer project fixed point contract

Lizhong Group (300428) announced on the evening of February 2 that Xintai Wheel, a subsidiary of the company, recently received a fixed-point contract for the aluminum alloy wheel project of an international automobile manufacturer. Xintai Wheel was identified as the fixed-point unit of the project. The project is expected to start mass production in September 2025, with a life cycle of four years. The company won the international car manufacturer's aluminum alloy wheel fixed point in the project cycle of the cumulative total sales of about 1.94 billion yuan.

8. Changshu Auto Decoration : the wholly-owned Sun Company receives the bid-winning notice for the customer's product project

Changshu Auto Parts (603035) announced on the evening of February 2 that Shenyang Changchun, a wholly-owned sun company, recently received a bid-winning notice from a well-known German luxury brand main engine factory. Shenyang Changchun has become a supplier of the bottom guard plate and wheel hub cover of a new energy and fuel vehicle for customers, and will design, develop and produce the bottom guard plate and wheel hub cover products of this passenger car for customers. This designated customer product project is expected to start mass production from 2026, the project life cycle is expected to be 7 years, the total amount of the estimated life cycle is about 0.8 billion yuan.

9, meirui new materials : reached a preliminary cooperation intention with quangang petrochemical industrial park management committee

Meirui New Materials (300848) announced on the evening of February 2 that the company and the Quangang Petrochemical Industrial Park Management Committee had held talks on cooperation matters and reached a preliminary cooperation intention on the investment and construction of foamed TPU project by Meirui New Materials (Fujian) Co., Ltd., a wholly-owned subsidiary of the company, in Quangang Petrochemical Industrial Park. At present, the downstream customers of foaming TPU are mainly concentrated in Fujian. Quangang Petrochemical Industrial Park is located in Quangang District, Quanzhou City, Fujian Province. It is a petrochemical base with a relatively sound industrial chain in Fujian Province. Building a factory in a customer gathering place can carry out joint research and development and production with downstream customers to meet their customized needs, while reducing transportation time and transportation costs to achieve rapid response, which is conducive to further enhancing the company's core competitiveness.

10, Yutong Bus : Sales in January 2024 up 121.81% YoY

yutong bus (600066) released its January 2024 production and sales data express on the evening of February 2, with sales of 2797 vehicles in January 2024, up 121.81 percent from a year earlier.