[Highlights]

In the first two months, the economic stability and the effectiveness of the policy will be further released

Under the effect of the macro policy "combination fist", the economic operation started the year stronger. According to the data released by the National Bureau of Statistics on March 18, in the first two months of this year, the year-on-year growth rate of private investment turned positive, the growth rate of manufacturing investment accelerated, and the retail sales of service consumption increased by more than 10% year-on-year ...... Series of data released positive signals.

Liu Aihua, spokesman for the National Bureau of Statistics, said at a news conference held by the State Information Office on the same day that economic operation continued to recover, coupled with the strong drive of the Spring Festival holiday, the national economy started steadily and rose steadily.

Comments: The opening year investment showed many bright spots, for example, the three major areas of investment growth accelerated or narrowed, new kinetic energy areas of investment faster growth, people's livelihood to fill the board investment continued to increase. From the overall data, from January to February, fixed asset investment increased by 4.2 year-on-year, 1.2 percentage points faster than last year.

Issued by the General Administration of Financial Supervision! Seven categories of circumstances will be identified as "significant risk"

On March 18, the General Administration of Financial Supervision issued the Measures for the Regulatory Rating of Life Insurance Companies (hereinafter referred to as the Measures), which covers six dimensions: corporate governance, business operation, capital utilization, asset and liability management, solvency, and others. To build a comprehensive risk assessment system. According to the "Measures", the comprehensive risk level is divided into 1-5 levels. The higher the value, the higher the risk. Companies in the state of reorganization and takeover are directly listed as S level.

At the same time, the "Measures" also set "performance of environmental and social governance (ESG) responsibilities" as a special bonus item, and give appropriate bonus points to life insurance companies that carry out green insurance and more inclusive insurance.

Comments: The person in charge of the relevant departments and bureaus of the General Administration of Financial Supervision stated that the introduction and implementation of the "Measures" will be conducive to the implementation of the regulatory orientation of "high-risk and high-intensity supervision" and the rational allocation of institutional supervision Resources, truly implement the requirements of classified supervision, and guide life insurance companies to form a competitive pattern of differentiated development.

New qualitative productivity has shown strong driving force and support

This year's government work report listed "vigorously promoting the construction of a modern industrial system and accelerating the development of new-quality productivity" as the top priority of the government in 2024. New industries (82.920, 0.25, 0.30), new models, new formats, and new kinetic energy that are spawned by technological innovation are all part of the development of new quality productivity. Liu Aihua, spokesman for the National Bureau of Statistics, said on March 18 that new quality productivity has formed and demonstrated strong driving force and support for high-quality development in practice.

The macroeconomic data in the first two months of this year show that the new quality productivity has been continuously cultivated and strengthened, promoting the realization of a virtuous circle in the national economy, and consolidating and strengthening the economic recovery. From the perspective of the production industry, the industrial industry with high-tech, high-efficiency and high-quality characteristics is developing well. For example, the added value of the equipment manufacturing industry above designated size increased by 8.6 year-on-year, which was 1.6 percentage points higher than the average level of all industries above designated size.

Comments: my country's industrial innovation capabilities have been continuously improved, and a number of advantageous industries have been formed in some key areas and key tracks, and their competitiveness is being reshaped during transformation and upgrading.

many cities have released a new round of centralized land supply plans. some real estate and land acquisition attitudes are still cautious

Recently, Shanghai, Hangzhou and other places have issued centralized land supply plans. Among them, Shanghai has adjusted the design and construction standards for small and medium-sized apartments. From the housing enterprises to take land situation, the recent listed housing enterprises to take land attitude is more differentiated. Some housing enterprises actively participate in the auction, cut a number of plots. Some housing enterprises to take a cautious attitude, slow to start. In addition, many recent housing enterprises to carry out a new round of financing, interest rates are generally low.

Comments: Recently, many housing enterprises to carry out a new round of financing, interest rates are generally low.

the regular adjustment of FTSE Russell Na A index sample is expected to bring more than 5 billion yuan of incremental funds

On March 18, the regular quarterly adjustment of the FTSE Russell Global Equity Index Na A sample came into effect. This regular adjustment added 76 Na A samples, of which 40 in Shanghai and 36 in Shenzhen.

At the same time, the inclusion factor (I. e., market capitalization adjustment factor) of more than 600 A- shares newly included in the regular sample adjustment in September 2023 was simultaneously increased from 12.5 per cent to 25 per cent. It is understood that during the regular sample adjustment in September 2023, FTSE Russell Global Stock Index will be included in more than 600 A shares newly entered into the interconnection scope at one time, and a "two-step" adjustment measure will be adopted, I .e. the inclusion factor of more than 600 A shares will be set at 12.5 in September 2023, and will be raised to 25% consistent with the old sample during the regular sample adjustment in March 2024.

Comments: Northbound funds as a whole continue to increase their positions against the trend, reflecting the attractiveness of low valuation and high-quality allocation of A- share assets under the positive improvement of policy and fundamentals. As of March 15, the net purchase amount of northbound funds has reached 70.6 billion yuan this year, and it has reached 85.1 billion yuan since February, which has exceeded the whole year of 2023.

Positive signs! Decline in real estate development investment narrowed

On March 17, the National Bureau of Statistics released data on the real estate market.

according to the data from January to February, the decline in real estate development investment narrowed to 9% from 9.6 in January to December last year, which is the first time that the index has narrowed since February last year after the decline continued to expand. However, the cumulative decline in the sales area and sales of commercial housing and the funds in place by housing enterprises continued to expand.

Comment: The year-on-year decline in real estate development investment has narrowed, which is a positive signal of stabilization on the supply side. The decline in new home sales indicators is due to the high base last year and the long Spring Festival holiday this year. From the actual feedback, the housing transaction market has begun to stabilize. With the continuous acceleration of the process of real estate financing coordination mechanism, the financial support of enterprises continues to increase, and the construction of "three major projects" in many places is accelerated, which will provide certain support for real estate development and investment.

U.S. stocks burst! Nasdaq, trading was interrupted for a while!

The NASDAQ has a big problem!

On Monday, local time, pre-market trading on the world's leading stock exchange, Nasdaq, was suspended for more than two hours. At present, the incident has the latest news, the Nasdaq exchange said that all systems have resumed normal operation.

Some foreign media commented on the matter, saying that thousands of stocks, including Apple, Tesla, and Nvidia, are listed on the Nasdaq. The technical failure of the exchange may disrupt the market and undermine the confidence of traders., And caused the review of the US Securities and Exchange Commission.

Comments: Last December, Nasdaq also had a system error that affected thousands of stock orders, resulting in some cancellations and the submission of incorrect liquidation information.

foreign capital management of social security fund? official rumor!

China's social security funds are all handed over to foreign institutions to manage? Rumors!

Recently, a small number of online self-media have released information stating that my country's social insurance funds are "almost all managed by foreign-funded institutions" and are used to "buy and sell A shares", questioning that social insurance funds have become "foreign arbitrage tools". After the China Internet joint rumor platform to the relevant authorities to verify the verification, the aforementioned remarks are false information.

comments: China's internet joint rumor refutation platform reminds the vast number of netizens that internet rumors are confusing and confusing. in the face of all kinds of information, they must keep a clear mind and rational cognition, and must not be led by rumors.

[industry hot spot]

"Flying cars" continue to be hot and low-altitude economic development speeds up

over 50% of private placement is optimistic about AI becoming the main line of the annual market

After the Spring Festival, the pig market will be weak first and then strong. Supply may gradually tighten in the second half of the year

Has the "destocking" trough in the power battery industry passed?

domestic mobile phone giants speed up the "AI + folding screen" industry chain to cooperate with all links

[Market dynamics]

A shares: On the 18th, the market opened high throughout the day. The three major indexes all hit new highs for the year, and the ChiNext index led the rise. Nancai Financial Terminal showed that as of the close, the Shanghai index was up 0.99 per cent, the Shenzhen Composite Index was up 1.46 per cent and the gem index was up 2.25 per cent. Overall, individual stocks rose more or less, the whole market more than 4500 stocks rose. Turnover in Shanghai and Shenzhen 1137.9 billion, 193.4 billion from the previous trading day.

Hong Kong stocks: on the afternoon of the 18th, Hong Kong stocks closed, the index opened lower after the shock higher, Hong Kong's Hang Seng Index closed up 0.10, the Hang Seng Technology Index closed up 1.25. The market is up and down less. On the disk, the automobile, electric power, airlines, AIGC concept, Ningde era concept, Internet medical and other sectors led the rise; auto parts, coal chemical industry, petroleum stocks, blue chip real estate stocks, mainland real estate, sports, gold and other sectors led the decline. Meitu rose more than 14%, while China's Confucianism rose nearly 9%.

U.S. stocks: In the early morning of the 19th Beijing time, U.S. stocks closed higher on Monday after the S & P 500 index had fallen for three consecutive trading days. The Dow rose 75.66 points, or 0.20 per cent, to 38790.43; the Nasdaq rose 130.27 points, or 0.82 per cent, to 16103.45; and the S & P 500 rose 32.33 points, or 0.63 per cent, to 5149.42.

European stocks: Germany's DAX 30 rose 0.06 per cent, Britain's FTSE 100 fell 0.05 per cent, France's CAC 40 fell 0.2 per cent and Europe's Stoxx 50 fell 0.09 per cent.

[Institutional Strategy]

Looking forward to the future, CICC said that the market maintained a volatile upward trend near the early trading intensive area, investors' risk appetite continued to repair, and structural opportunities in the market continued to emerge. In terms of industry configuration, the TMT field, which has been adjusted more since the beginning of the year and has been driven by the expectation of scientific and technological progress and catalyzed by policies related to new quality productivity, is still expected to perform relatively, and the Internet, computer and electronic sectors are expected to continue to be active.

Huafu Securities believes that the current A- share presents a wonderful pattern of "index setting up the stage and individual stocks singing opera", and the industry rotation is very rapid. As the market gets better, more positive factors are emerging, mainly as followsForeign capital inflows and policy benefits are two major aspects. In terms of foreign capital inflows, northbound funds have a net inflow of more than 100 billion billion yuan in the past two months, while FTSE Russell index companies have increased their allocation to A- shares. In terms of policy, the China Securities Regulatory Commission recently announced a number of heavy policy documents, which are aimed at strengthening supervision, improving the quality of listed companies, and further consolidating the fundamental foundation of A- shares. It is expected that the future index is expected to reach a higher level.

[Topic Company]

First in 2024! * ST Xinhai was forced to withdraw from the market for major violations

financial fraud for many years, * ST Xinhai received the exchange's final ruling.

On the evening of March 18, * ST Xinhai announced that the company had received the "Decision on the Termination of the Listing of Xinhaiyi Technology Group Co., Ltd." issued by the Shenzhen Stock Exchange, and the Shenzhen Stock Exchange decided to terminate the listing of the company's shares. This means that * ST Xinhai became the first major illegal compulsory delisting case in 2024.

Shock! Evergrande Real Estate has inflated its income by 564.1 billion yuan for two years, and the CSRC has punished 4.175 billion yuan!

Evergrande Real Estate's fraud is shocking. The CSRC found that the inflated income in 2019 and 2020 reached 564.1 billion yuan.

on the evening of March 18, Evergrande real estate announced that it had received the notice of the CSRC's administrative penalty and market ban in advance, requiring Evergrande group to correct and punish 4.175 billion yuan. at the same time, it also imposed fines and market ban on Xu Jiayin, Xia Haijun, Pan Darong, Pan Hanling, Ke Peng, Zhen Litao and Qian Cheng.

[New Stock Alert]

None

[Notice]

[Hot spot]

* ST Xinhai: Received the decision to terminate the listing of shares

* ST Xinhai (002089) announced on the evening of March 18 that the company received the "Decision on the Termination of the Listing of Xinhaiyi Technology Group Co., Ltd." issued by the Shenzhen Stock Exchange on March 18, 2024 (Shenzhen Stock Exchange No. 189 [2024]), the Shenzhen Stock Exchange decided to terminate the listing of the company's shares.

Sanlian Yuejian Intelligence: The company's main business does not involve humanoid robot business and products

Yuejian Intelligence (603095) issued a risk warning announcement on stock trading on the evening of March 18, stating that the company's main business is the research and development, production and sales of textile machinery, and its main business does not involve humanoid robot business and products.

Yiwei LiNeng: the chairman suggested to distribute a cash dividend of 5 yuan (including tax) to all shareholders for every 10 shares

Yiwei lithium energy (300014) announced on the evening of March 18 that Liu Jincheng, the actual controller and chairman of the company, proposed to distribute a cash dividend of 5 yuan (including tax) to all shareholders for every 10 shares, with a total cash dividend of 1.02 billion yuan.

[M & A]

Gansu energy: plans to purchase 66% equity of Gansu power investment Changle power generation co., ltd

Gansu Energy (000791) announced on the evening of March 18 that the company intends to purchase 66% of the equity of Gansu Electric Power Investment Group Co., Ltd. held by Gansu Electric Power Investment Group Co., Ltd. and raise matching funds by issuing shares and paying cash.

After this transaction, the listed company's main business will add thermal power generation business. The company's shares will resume trading on March 19.

in addition, the company plans to cooperate with China resources power new energy investment co., ltd. (hereinafter referred to as "China resources new energy") to set up Gansu power investment runneng (wuwei) new energy co., ltd. (hereinafter referred to as "joint venture company"), which is mainly responsible for investing and developing large base projects. the registered capital of the joint venture company is 6 billion yuan, with the company contributing 3.06 billion yuan for the first time 5.1 million yuan and holding 51%; china Resources New Energy contributed 2.94 billion yuan, with an initial contribution of 4.9 million yuan and a 49% stake. After the company's decision, it will sign a capital contribution agreement with China Resources New Energy.

north motorcycle high tech: 0.6 billion yuan to be transferred to Beijing hanyu 36.75% equity

Beimo Gaoke (002985) announced on the evening of March 18 that it plans to transfer 36.75 shares of Beijing Jinghanyu Electronic Engineering Technology Co., Ltd. (hereinafter referred to as "Jinghanyu") held by Yan Moon and Zhang Yu at a price of 0.6 billion yuan. Upon completion of the acquisition, the Company will hold a 87.75 per cent stake in Beijing Hanyu.

Refinancing

Huayang shares: the public issuance of science and technology innovation renewable corporate bonds to professional investors was approved by the China Securities Regulatory Commission

Huayang shares (600348) announced on the evening of March 18 that the company's public issuance of science and technology innovation renewable corporate bonds with a total face value of no more than 3 billion yuan to professional investors has been approved by the China Securities Regulatory Commission.

[Change in equity]

Mubang Gaoke: Shareholders Proposed Agreement to Transfer 5.07% of the Company's Shares

mubang high tech (603398) announced on the evening of March 18 that shareholder bangling international and natural person Zheng Qingxiang (hereinafter referred to as "the transferee") signed a "share transfer agreement" to transfer its 22 million shares of the company (accounting for 5.07 of the total share capital of the company) to the transferee at a price of 17.59 yuan per share, with a transfer price of 0.387 billion yuan. Zheng Qingxiang promised not to reduce the shares of the listed company transferred by this agreement within 12 months after the completion of the registration of the transfer of the underlying shares.

[increase holdings, repurchase]

Jiuzhitang: plans to buy back shares of the company from 50 million yuan to 0.1 billion yuan

Jiuzhitang (000989) announced on the evening of March 18 that it plans to buy back the company's shares from 50 million yuan to 0.1 billion yuan. The repurchased shares are intended to be used for equity incentive or employee stock ownership plan, and the repurchase price shall not exceed 12.95 yuan/share (inclusive).

science and technology navigation: raise the total amount of share buyback funds to 0.1 billion yuan to 0.15 billion yuan

Science and Technology Navigation (688282) announced on the evening of March 18 that the company decided to adjust the total amount of share repurchase funds from "not less than 50 million yuan and not more than 0.1 billion yuan" to "not less than 0.1 billion yuan and not more than 0.15 billion yuan".

garden shares: yipin venture capital and Zhouyang venture capital plan to reduce the company's shares by no more than 1%

garden shares (605303) announced on the evening of March 18 that shareholders yipin venture capital and Zhouyang venture capital, which hold 5.08 of the total shares, plan to reduce their total holdings by no more than 1.6123 million shares and no more than 1% of the total shares of the company through centralized bidding. The fund managers of Yipin Venture Capital and Zhouyang Venture Capital are Zhejiang Xingan Shiye Investment Management Co., Ltd.

tianneng shares: plans to buy back the company's shares at 50 million -0.1 billion yuan

Tianneng shares (688819) announced on the evening of March 18 that the company intends to repurchase shares at 50 million -0.1 billion yuan for employee stock ownership plans or equity incentives, and the repurchase price does not exceed 41.82 yuan per share (inclusive).

newtag: to buy back the company's shares from 10 million yuan to 20 million yuan

Newtag (301229) announced on the evening of March 18 that it plans to buy back the company's shares from 10 million yuan to 20 million yuan, and the repurchased company shares will be used for employee stock ownership plan or equity incentive, and the repurchase price will not exceed 38.3 yuan/share.

blue sail medical: some directors and senior managers plan to increase their shares in the company from 4 million yuan to 8 million yuan

Lanfan Medical (002382) announced on the evening of March 18 that the company's chairman Liu Wenjing, director and president Zhong Shuqiao, and director Yu Suhua plan to increase the company's shares with 4 million yuan to 8 million yuan within one month.

Shenzhen Gas: shareholder Nanfang hopes to reduce the company's shares by no more than 2%

Shenzhen Gas (601139) announced on the evening of March 18 that Nanfang Hope Industrial Co., Ltd. (hereinafter referred to as "Nanfang Hope"), a 6.04 shareholder of the company, plans to reduce its holdings of no more than 57.5346 million shares by means of centralized bidding and block trading, and the reduction ratio shall not exceed 2% of the total share capital of the company.

New Schindler: Proposed opportunity to sell holding of Huali Technology shares

New Schindler (300518) announced on the evening of March 18 that it plans to sell its shares of Guangzhou Huali Technology Co., Ltd. (stock code: 301011). As of the date of this announcement, the company holds 5.2644 million shares of Huali Technology, accounting for about 3.59 of the total issued shares of Huali Technology.

[Business Data]

medium and micro companies: 2023 net profit of 1.786 billion yuan increased by 52.67 year on year

China Micro Corporation (688012) disclosed its annual report on the evening of March 18. The company achieved operating income of 6.264 billion yuan in 2023, a year-on-year increase of 32.15; net profit of 1.786 billion yuan, a year-on-year increase of 52.67; basic earnings per share of 2.89 yuan. The Company intends to pay a cash dividend of 3 yuan (including tax) for every 10 shares.

during the reporting period, the company's new orders amounted to about 8.36 billion yuan, an increase of about 2.04 billion yuan from the 6.32 billion yuan of new orders in 2022, an increase of about 32.3 percent over the same period last year.

among them, the new order for etching equipment is about 6.95 billion yuan, up about 60.1 year on year. As the micro-MOCVD equipment has already occupied the absolute leading market share in the blue and green LED production line, the order of MOCVD equipment in 2023 decreased by about 72.2 year on year due to the fluctuation of the terminal market.

baus shares: net profit in 2023 increased by 153.05 year on year, with 10 yuan to be distributed in 0.7

Bowes shares (300441) released its 2023 annual report on the evening of March 18, achieving operating income of 2.415 billion billion yuan in 2023, an increase of 17.58 percent over the same period last year; net profit belonging to shareholders of listed companies was 0.281 billion billion yuan, an increase of 153.05 percent over the same period last year. It is proposed to distribute a cash dividend of 0.7 yuan (including tax) to all shareholders for every 10 shares.

China merchants shekou: net profit in 2023 increased by 48.2 year-on-year, with a plan of 10 3.2 yuan

China Merchants Shekou (001979) released its 2023 annual report on the evening of March 18. In 2023, it achieved operating income of 175.008 billion billion yuan, a year-on-year decrease of 4.37; net profit attributable to shareholders of listed companies was 6.319 billion billion yuan, a year-on-year increase of 48.2. It is proposed to pay a cash dividend of 3.2 yuan (including tax) to all shareholders for every 10 shares.

Zhongyuan Media: 2023 net profit of 1.389 billion yuan increased by 34.55 year on year

Zhongyuan Media (000719) released its 2023 annual performance bulletin on March 18. The company achieved a total operating income of 9.833 billion billion yuan in 2023, a year-on-year increase of 2.12; the net profit attributable to shareholders of listed companies was 1.389 billion billion yuan, a year-on-year increase of 34.55.

Tomson Beijian: Net Profit in 2023 Increases 26.01 Year on Year to 10 9 yuan

Tomson Beijian (300146) released its 2023 annual report on the evening of March 18. In 2023, it achieved operating income of 9.407 billion billion yuan, a year-on-year increase of 19.66; net profit attributable to shareholders of listed companies was 1.746 billion billion yuan, a year-on-year increase26.01 per cent; basic earnings per share of $1.03. It is proposed to pay a cash dividend of 9 yuan (including tax) to all shareholders for every 10 shares.

Yunnan germanium industry: 2023 net profit 6.9745 million yuan year-on-year loss

Yunnan Germanium Industry (002428) released a performance bulletin on the evening of March 18. The total operating income in 2023 was 0.672 billion yuan, a year-on-year increase of 25.23; the net profit attributable to the parent company was 6.9745 million yuan, a year-on-year turnaround; the basic earnings per share was 0.01 yuan. During the reporting period, the prices of some products increased and operating income increased.

zhongwei electronics: operating income of 0.152 billion yuan in 2023 decreased by 58.18 year on year

Zhongwei Electronics (300270) released its 2023 annual report on the evening of March 18. In 2023, it achieved operating income of 0.152 billion billion yuan, a year-on-year decrease of 58.18 (after adjustment); the net profit loss attributable to shareholders of listed companies was 75.9402 million billion yuan, year-on-year Turn loss.

Weiyuan shares: 2023 net profit fell 83.77 year on year

Weiyuan shares (600955) disclosed its annual report on the evening of March 18, achieving operating income of 7.05 billion billion yuan in 2023, down 9.59 percent from the same period last year; net profit of 98.6154 million billion yuan, down 83.77 percent from the same period last year; and basic earnings per share of 0.18 yuan. The company intends to distribute a cash dividend of 0.55 yuan (including tax) to all shareholders for every 10 shares. During the reporting period, the sales price of some of the Company's products decreased year-on-year, resulting in a decrease in operating income.

Shenzhen Airport: passenger throughput up 40.17 YoY in February 2024

Shenzhen Airport (000089) announced on the evening of March 18 that the passenger throughput in February 2024 was 5.3177 million, up 40.17 year on year.

China nuclear construction: as of February 2024, the total number of newly signed contracts has reached 18.902 billion yuan

China Nuclear Construction (601611) announced on the evening of March 18 that as of February 2024, the company had achieved a total of 18.902 billion yuan in new contracts and 16.717 billion yuan in operating income.

[The winning contract]

Gaud Infrared: Signed Domestic Purchase Contract for General Foreign Trade Products of 0.334 billion Yuan Complete Equipment System

Gaud Infrared (002414) announced on the evening of March 18 that the company recently signed a domestic purchase contract for overall foreign trade products of a complete equipment system with a J trading company, with a contract amount of 0.334 billion yuan, accounting for 13.22 of the company's audited operating income in 2022.