[CSI Headlines].

Expand new scenarios and new business formats to further promote the consumption of elderly care services

The Ministry of Civil Affairs and other 24 departments recently jointly issued the "Several Measures to Further Promote the Consumption of Pension Services and Improve the Quality of Life of the Elderly". The "Several Measures" focus on five aspects, including promoting the adaptation of supply and demand of pension services, expanding new scenarios and new formats of pension service consumption, strengthening the research and development and application of pension service facilities, equipment and products, strengthening the consumption guarantee of pension services, and creating a safe and secure pension service consumption environment, and proposes 19 policies and measures, requiring further effective tapping of the consumption potential of pension services, promoting the coordinated development of pension services and the pension industry, realizing the high-quality development of pension services, and better meeting the multi-level, diversified and personalized service needs of the elderly.

Comments: At present, the scale of China's silver economy is about 7 trillion yuan, accounting for about 6% of GDP. By 2035, the scale of the silver economy will reach about 30 trillion yuan, accounting for about 10% of GDP. The "14th Five-Year Plan" will actively respond to the rise of aging as a national strategy, and the state has listed "pension services" as one of the three major directions to expand domestic demand. In the future, the state will focus on cultivating potential industries, focusing on the development and application of daily products for the elderly and leisure companion products for the elderly. At the same time, promote the application of intelligent nursing robots, home service robots, intelligent anti-lost terminals and other intelligent equipment.

Among the A-share companies, the Genor Smart Elderly Care Platform, a subsidiary of Genor Mecan (688246), has developed knowledge models related to elderly care and smart elderly care application scenarios, and is committed to building an intelligent elderly care service system for elderly care institutions. Sichuang Yihui (300078) smart elderly care overall solution uses the Internet of Things, 5G, artificial intelligence and other technologies to achieve closed-loop management of personal health.

【Selected News】

○ Premier Li Qiang presided over an executive meeting of the State Council to review and approve the "Several Policies and Measures on Promoting the Steady Growth of Foreign Trade" and study the relevant measures to deepen the reform and development of pension services in the new era.

○ The 12th meeting of the Standing Committee of the 14th National People's Congress deliberated and approved the most powerful debt reduction measure in recent years on the 8th: increasing the local government debt limit by 6 trillion yuan to replace the stock of implicit debts, making room for local governments to better develop the economy and protect people's livelihood.

○ Minister of Finance Lan Foan said at a press conference at the 12th meeting of the Standing Committee of the 14th National People's Congress held on November 8 that he would directly increase localized debt resources by 10 trillion yuan; 2 trillion yuan of hidden debts for shantytown renovation due in 2029 and later, which will still be repaid according to the original contract; Relevant tax policies to support the healthy development of the real estate market will be introduced in the near future; We are actively planning the next step of fiscal policy and intensifying countercyclical adjustment.

○ According to data released by the National Bureau of Statistics, in October, the CPI fell by 0.3% month-on-month and rose by 0.3% year-on-year, down 0.1 percentage points from the previous month, and the PPI fell by 2.9% year-on-year, with a significant month-on-month decline and a slight expansion of the year-on-year decline.

○ Ministry of Commerce: Anti-dumping duties will continue to be imposed on imported nitrile butadiene rubber originating in South Korea and Japan.

○ China's monetary policy implementation report for the third quarter of 2024 released by the central bank pointed out that in the next stage, it will study the appropriate narrowing of the width of the interest rate corridor to guide the money market interest rate to run smoothly around the policy interest rate pivot.

○The first meeting of the World UHD Video Industry Alliance (UWA Alliance) UHD Display Working Group and the inaugural meeting of the working group were held in Nanjing, which is of great significance to enhance China's voice and industrial competitiveness in the global UHD display field.

○ The Institute of Cloud Computing and Big Data of the Chinese Academy of Information and Communications Technology has compiled the "Edge Computing Industry Development Research Report (2024)", which was officially released recently. According to the report, edge AI is expected to accelerate the ubiquitous large-scale application of artificial intelligence.

○On November 8th, the Zhipu video generation large model product Qingying was significantly upgraded, supporting the generation of 10s, 4K, 60 frames of ultra-high definition and character performance details, which will be launched on the Zhipu Qingyan App from now on.

[Sankei perspective].

Seven departments jointly issued a document to promote the prevention and control of soil pollution sources

Recently, the Ministry of Ecology and Environment and other seven departments jointly issued the "Action Plan for the Prevention and Control of Soil Pollution Sources". The Action Plan proposes to optimize the technical route of soil pollution remediation and strengthen the risk control and restoration of polluted land in key industries. By 2027, significant results will be achieved in the prevention and control of soil pollution sources, with the pass rate of hidden danger investigation and rectification of key soil pollution supervision units reaching more than 90%, the safe utilization rate of polluted cultivated land reaching more than 94%, and the safe use of construction land being effectively guaranteed. By 2030, the indicators will be further improved.

Comments: The market size of China's soil remediation industry has been increasing year by year, mainly due to the increasing public awareness of environmental protection and the increased demand for a healthy living environment, prompting enterprises and governments to invest more resources in soil pollution control. In addition, the continuous innovation of remediation technology and the gradual reduction of costs have made the implementation of soil remediation projects more cost-effective and efficient, which has jointly promoted the rapid growth of the industry market. A-share related concept stocks mainly include Yongqing Environmental Protection (300187), Zhonglan Environmental Protection (300584), etc.

[Company News].

Hangzhou Steamship and Hailianxun announced the restructuring plan

Hailianxun (300277) and Hangzhou Steamship B (200771) issued a share exchange and absorption merger plan. Hailianxun will absorb and merge the B shares of Hangzhou Steamship by way of share exchange through the issuance of A shares, and the exchange ratio between Hangzhou Steamship B and Hailianxun is 1:1. In order to protect the rights and interests of dissenting shareholders, the preliminary plan shows that the dissenting shareholders of Hangzhou Steam Turbine can exercise the cash option at a price of HK$7.77 per share, while the dissenting shareholders of Hailianxun have the right to request an acquisition of HK$9.56 per share. After the completion of the reorganization, the industrial steam turbine and gas turbine business of Hangzhou Steam Turbine will achieve in-depth synergy with the power informatization business of Hailianxun, and the new surviving company will build a dual main business layout of "industrial turbomachinery + power informatization". The shares of the two companies resumed trading on November 11.

○ China Dynamics (600482) disclosed the restructuring plan on the evening of November 8, and the company intends to purchase 16.5136% of the shares of CSSC Diesel Engine Co., Ltd. from China State Shipbuilding Corporation by issuing convertible bonds and paying cash. The company's shares resumed trading on November 11.

○On November 8, Visual China (000681) announced that it had participated in the B6 round of equity financing of Beijing Zhipu Huazhang Technology Co., Ltd. and reached a strategic cooperation. The two parties will jointly promote the innovative application of AI technology in the field of visual content to provide users with a smarter and more efficient visual experience.

○ Huaheng Biology (688639) plans to use 400 million yuan of the raised funds to increase the capital of its wholly-owned subsidiary Chifeng Huaheng, and use it as the main body to implement the fund-raising project "annual output of 50,000 tons of bio-based succinic acid and bio-based products raw material production base construction project".

○GEM (002340) signed a project investment agreement with Vale Indonesia to jointly build an HPAL plant with green nickel resources.

○Wanfeng Aircraft, a subsidiary of Wanfeng Aowei (002085), signed a "Memorandum of Understanding on Technical Cooperation in the Field of Electric Vertical Take-off and Landing Aircraft (eVTOL)" with Volkswagen (Germany), and the two sides agreed to carry out relevant cooperation in the field of eVTOL. With the support of Volkswagen (Germany), Wanfeng Aircraft plans to independently realize the development and future commercialization of large-scale industrial vertical mobility solutions using aircraft as carriers.

○ Aerospace Rainbow (002389) Rainbow UAV and other products are planned to participate in the 15th Air Show.

○Longquan Co., Ltd. (002671) plans to acquire 80% of the equity of Nantong Power Station Valve and enter the field of high-end metal valve manufacturing.

○ YOFC Optical Fiber (601869) intends to acquire the equity of El.En.'s subsidiary for about 449 million yuan, and after the completion of this transaction, Pentium Laser and Cutlite will become subsidiaries of the company, and the target company of the transaction is in the same industrial chain as the company's industrial laser-related business.

○HCFA Technology (688320) said at the online performance briefing that the company will firmly take the humanoid robot business as an important strategic direction in the future, and the humanoid robot parts and components have achieved small batch orders.

○ Guangzhou Automobile Group (601238) said on the interactive platform that the company has released the all-solid-state power battery technology, which has initially opened up the whole process manufacturing process of all-solid-state batteries, and achieved a key technological breakthrough in the mass production of high-safety and large-capacity all-solid-state power batteries at the vehicle specification level, and has the three core advantages of ultra-high energy density, ultra-high safety and large-capacity all-solid-state batteries, which are expected to be installed in Haobo models in 2026.

○ Gauss Bell (002848) pre-won the bid for about 426 million yuan of computing power service projects.

○ Dianke Network Security (002268) won the bid for the Information Security Situational Awareness Platform (Network Security Operation Center) project of China Aviation Group Co., Ltd.

○ Genew Technology (688418) successfully won the bid for the Beidou short message project with its leading core network technology, which marks a new breakthrough in the field of satellite communication for the company's core network products.

○ Hailiang Co., Ltd. (002203) plans to repurchase the company's shares with 500 million yuan to 600 million yuan and obtain the "Letter of Commitment for Loans from Zheshang Bank".

[Capital Tide View].

○ On November 8, the net outflow of main funds in Shanghai and Shenzhen was 101.952 billion yuan. The top three sectors with a net inflow of main funds were power equipment, communication equipment and computer equipment, with net inflows of 2.553 billion yuan, 1.701 billion yuan and 1.680 billion yuan respectively. The top three stocks with net inflows of main funds are Shanghai Electric, OFILM and Inspur Information, with net inflows of 2.584 billion yuan, 1.830 billion yuan and 1.490 billion yuan respectively.

○ Inspur Information (000977) rose on November 8, with a turnover of 8.767 billion yuan. According to the data of the after-hours Dragon and Tiger List, the special seats for Shenzhen-Hong Kong Stock Connect bought 498 million yuan and sold 368 million yuan, the net purchase of a special seat for an institution was 110 million yuan, and the net sale of a special seat for an institution was 174 million yuan.