SFC:The regulatory authorities do not interfere in normal market transactions, protect investors' rights to trade fairly and freely in accordance with the law, and resolutely crack down on violations of laws and regulations such as disrupting the order of market transactions. Next,The Shanghai and Shenzhen ** exchanges and financial ** exchanges will be guided to improve the regulatory standards for abnormal transactionsCrack down on illegal acts such as market manipulation and insider trading in accordance with laws and regulations, and earnestly maintain the normal order of market transactions.
Financial headlines app:On February 22, the Nikkei 225 index closed up 219% to 3909868 points, surpassing the record high of 38,957 points at the end of 1989A new all-time high. As of that day**, the Nikkei 225 was up 16 percent for the year84%。The index has a full-year gain of 28 in 202324%。
Macroeconomics
Century Business Herald:It is reported that the regulatory authorities are organizing the declaration of special bond projects in 2024 recently, and this declaration has changed in terms of investment fields, project requirements, and application procedures. In terms of investment fields, the overall 11 major fields remain unchanged, but there are slight changes in the subdivision investment direction. In addition,Special bonds are used as capital for new affordable housing.
2. Jin Zhuanglong, Minister of Industry and Information Technology:Open up new fields and new tracks for development, strengthen the deep integration of scientific and technological innovation and industrial innovation, and promote the accelerated industrialization of scientific and technological achievementsVigorously promote the innovation and application of digital technologies such as 5G and artificial intelligenceWe will continue to expand new growth points such as new materials, Internet of Vehicles, biomanufacturing, information and innovation industry, and low-altitude economy, and accelerate the formation of new quality productivity.
3. SPC:In the future, the focus of deepening the reform of intellectual property courts should be in the following two aspects. First, it is necessary to improve the appeal and trial mechanism for intellectual property cases at the national level. Adopt practical measures to optimize the top-level design of the appellate and trial mechanism for technology-related intellectual property and monopoly cases. Second, it is necessary to strengthen the court's all-round basic safeguards.
4. Eurozone:January,CPI increased by 28%，Expected growth of 28%；Month-on-month, it decreased by 04% and an expected decrease of 04%。
Real estate dynamics
1. Middle Finger Academy:In January 2024, the national foreclosure house will be listed for auction 10040,000 sets, a year-on-year increase of 482%。Of these, about 1270,000 sets, an increase of 18 year-on-year3%, and the overall turnover rate reached 1263%。6770,000 sets, 1Compared with 070,000 units, the number of auction listings and transaction volume this year has increased significantly.
2. Zhengzhou City, Henan Province:Explore and carry out the "first-hand house with mortgage transfer", realize the transaction transfer related business in the mortgage state of the new commercial housing under construction (or existing house), further reduce the cost of development enterprise operation and system, and improve the liquidity of the first-hand housing market. Promote the reform of existing home sales on a pilot basis. Explore the establishment of a seamless system for the approval process of pilot project financing, sales and construction projects.
3. Shenzhen Municipal Bureau of Housing and Urban-Rural Development: 100,000 sets (rooms) of affordable housing will be built and raised throughout the year, and 6 will be allocated50,000 sets (rooms). Systematically build a "1+N" policy system for the transformation of urban villages, and demolish 11 square kilometer. More than 100 old residential areas have been renovated and 1,000 elevators have been installed.
4. Beijing:On February 22, two popular land plots were launched, attracting more than 10 real estate companies to participate in the auction, with a starting total price of 66500 million yuan, and the final transaction price was 77600 million yuan. Due to the fierce competition,Both parcels have reached the upper limit of land priceEnter the lottery.
5. Shenyang City, Liaoning Province:From March 1stThe time limit for employees to apply for withdrawing housing provident fund within two years of purchasing a house in cash for self-occupation has been abolished; The loan term of the provident fund for the purchase of second-hand housing by employees has been extended from "35 years to 40 years", and the maximum loan term for second-hand housing is 30 years.
Stocktaking
On Thursday, the Shanghai Composite Index was at 298836 points,The turnover was 36526.4 billion. The Shenzhen Stock Exchange Component Index was reported at 904375 points,The turnover was 45712.4 billion. GEM index reported 175787 points,The turnover was 20412.6 billion. Overall, there are more than 4,500 stocks in the two cities, and the turnover of the two cities is 822.4 billion, a decrease of 157.8 billion from the previous trading day. On the disk, state-owned assets cloud, liquid-cooled servers, computing power leasing, coal and other sectors are among the top gainers, and only a few sectors such as fentanyl are among the best. Northbound funds were net **36 throughout the day900 million, of which 255.1 billion yuan, Shenzhen Stock Connect net **113.8 billion yuan.
Thursday,The Hang Seng Index rose 145%，1674295 points. The Hang Seng Tech Index rose 175%，reported 341002 o'clock. The state-owned enterprises index rose 205%，575846 points. Trip.com Group rose more than 7%, PetroChina rose more than 5%, Li Auto and ZTE rose more than 4%, China Unicom and China Telecom rose more than 3%; Chinalco International fell more than 8%. Southbound funds are net **47HK$7.7 billion. Among them, the Hong Kong Stock Connect (Shanghai) net **22HK$1.4 billion, Hong Kong Stock Connect (Shenzhen) net **25HK$6.3 billion.
As of February 22, there were 244 listed companies on the Beijing Stock Exchange, and there were no new ones on the same day. The total market capitalization is 37297 billion yuan, with a turnover of 854.2 billion yuan.
4. Financing balance of the two cities:As of February 21, the financing balance of the Shanghai Stock Exchange was reported at 74530 billion yuan, an increase of 25 from the previous trading day0.7 billion yuan; The financing balance of the Shenzhen Stock Exchange was reported at 65582.3 billion yuan, an increase of 29 from the previous trading day$6.9 billion; The total of the two cities is 140112.3 billion yuan, an increase of 54 from the previous trading day7.6 billion yuan.
5. China Securities Regulatory Commission: Issued 6 administrative penalties involving insider trading, market manipulation and other violations of laws and regulations. The 6 fines pointed to a total of 11 people, of which 5 were fined for insider trading of Hengyi Petrochemical shares, and 6 were fined for manipulating the market. In the next step, we will continue to maintain the main tone of "strict" administrative law enforcement, adhere to "zero tolerance", anchor "high quality", and strictly investigate the legal responsibility for illegal acts.
6. **Times:On February 21, the micro-cap index was **448%, and the cumulative increase after the holiday has exceeded 14%. The net value repair of quantitative private equity products, which had previously suffered a sharp drawdown, acceleratedRedemption pressure has eased.
Since 2024,A total of 30 listed companies issued announcements proposing to revise their share prices downward. Among them, 10 companies, including Qizheng Tibetan Medicine, Xinjiang Zhonghe and Kangtai Biology, have decided to implement downward revisions.
8. Shanghai Securities News:As the market has picked up, the signal of capital entry has begun to appearA number of new ** accelerated the opening of positions, and some of the ** that had been established for about 1 month announced the opening of daily subscription business. Standing at the current point in time, many institutions believe that with the continuous accumulation of positive factors, the momentum of market recovery is expected to continue.
9. Trina Solar:The total operating income in 2023 is 1135100 million yuan, a year-on-year increase of 3346%；Net profit 556.1 billion yuanA year-on-year increase of 5112%。During the reporting period, the sales of high-power 210 series photovoltaic products increased significantly and were recognized by the market.
10, Supor:The operating income in 2023 is 2130.1 billion yuan, a year-on-year increase of 560%；Net profit 21800 million yuan,A year-on-year increase of 542%。Mainly due to the improvement of product structure and channel structure, continuous promotion of cost reduction and efficiency improvement, the actual gross profit margin has been further improved.
11. Hengrui Pharmaceutical: The subsidiary obtained the approval notice for the clinical trial of adebelimab injection. At the same time, the company's SHR-A1912 for drug injection has obtained FDA Fast Track status.
12. Gimpo Titanium:As of February 22, 2024Anatase titanium was raised by 800 yuan tons, and 110 US dollars for various international customers; Rutile titanium was raised by 600 yuan tons, and 80 US dollars was raised to various international customers.
13. Kelai Electromechanical (ten plates):The company** has risen by 159 since January 3151%。At present, all production and business activities are normal, and there has been no major adjustment in the market environment and industry policiesThere were no significant fluctuations in production costs and sales, and the internal production and operation order was normal.
14, Weihaide (five boards):The multi-modal white balance algorithm mentioned in the 2023 semi-annual report refers to the addition of AI white balance algorithm and auxiliary color temperature sensor on the basis of the traditional white balance algorithm in the camera field, which is not a large multi-modal AI model related to OpenAI that the current market is concerned about. The company is not involved in Wensheng's first-class technology and products, and has not been engaged in the layout of AI large model business in the near future.
15. HSBC Holdings:It has entered into a number of entrusted repurchase agreements with Merrill Lynch InternationalUp to $2 billion of common stock may be purchased between February 23, 2024 and April 26, 2024And at the same time to the company ** relevant shares.
Wealth Focus
1. China Securities News:Recently, a number of small and medium-sized banks have announced the adjustment of deposit interest rates, and on the whole, the longer the term, the greater the reduction. However, some banks have raised the interest rate of deposit products in stages. Looking ahead, taking into account the pressure on banks' net interest marginsThere is still room for further reductions in deposit rates.
2. Xinhua News Agency:Recently, a lottery player in Jiangxi bought a welfare lottery ticket **2The grand prize of more than 200 million yuan has attracted widespread attention. Confirmed by the Ministry of Civil Affairs,The lottery sales data sealing, lottery, on-site notarization, lottery announcement and other work in strict accordance with the prescribed procedures,The sales system and lottery equipment are operating normally, the prize pool funds are not misappropriated, and all work complies with relevant regulations.
3. Forbes: The total wealth of Hong Kong's 50 richest tycoons shrank by 9% from last year to $296 billion. Although Li Ka-shing is still at the top of the list, his wealth fell to US$36.2 billion, down about 718%。Despite this, 12 members also achieved wealth growth. Among them, shipping tycoon Su Haiwen's wealth increased by 7$500 million.
4. Financial breakfast:Hot spots out non-stop, track what you want to hear. LCD panel will continue after the year, the industry is expected to have a full range of panels, and the industry has opened a new round of price increase cycle? What's new in different sizes of panels? What are the new developments in the manufacturer landscape? Wealthy friends, hurry up to the end of the article to view today's financial secretary tracking changes! Panel**Full Line**
Industry Watch
1. Gaogong Intelligent Vehicle Research Institute:In 2023, the front of the passenger car will be equipped with an intelligent driving domain controller 173 as standard50,000 units, an increase of 80 percent year-on-year2%, front-mounted loading rate 82%, in the context of the centralized upgrade of the electronic architecture of the whole vehicle, intelligence will enter an acceleration period. Starting from 2024, the cross-domain centralized computing platform will also begin to enter the pre-installation mass production cycle. It is expected to be by 2030,The market share will exceed 30%.
2. Lenovo Group Yang Yuanqing:The launch of SORA,It will increase the demand for global AI computing powerIt will further promote the popularization and popularization of AI. On the supply side, this will increase the demand for traditional performance, and on the other hand, new technological innovations will be required.
Affected by the Spring Festival holiday, the first quarter of each year is the traditional off-season for the civil explosive industry, with some factories and mines suspending production, large-scale infrastructure projects suspending work, and at the same time, due to the more rain in spring, the construction rhythm of the construction site is slow. However, since 2024,Some companies revealed that the supply of civil explosive products exceeded demand.
4、canalys：In the fourth quarter of 2023, smartphone shipments in Europe were 37.8 million units, down 3% year-on-year. Apple reversed seven consecutive quarters behind Samsung to regain the leadShipments were 12.4 million units, up 1% year-over-year. Samsung came in second with 10.8 million units shipped, down 12%. Xiaomi's sales fell 10% to 6 million units, but it still retained its third position.
5. Shenzhen, Guangdong Province:Strengthen the integration and interaction between new energy vehicles and power grids. In principle, the new charging piles uniformly adopt intelligent and orderly charging pilesPromote the intelligent transformation of existing charging piles on demand; Encourage industrial parks, bus stations, social parking lots and other integrated parking and charging scenarios, increase the demonstration application and continuous upgrading of vehicle-network interaction, and realize full coverage of vehicle-network interaction as soon as possible.
6. Shanxi Provincial Department of Industry and Information Technology:The "Shanxi Hydrogen Energy Industry Chain 2024 Action Plan" was issued to carry out 11 key tasks, including tackling key core technologies of hydrogen energy, promoting the construction of hydrogen energy innovation platforms, establishing a diversified hydrogen energy system, orderly promoting the construction of hydrogen refueling stations, and orderly carrying out the demonstration and application of hydrogen energy in the field of transportation, and clarifying 3 safeguard measuresPromote the development of the whole industrial chain of hydrogen energy production, storage, transportation and useAccelerate the formation of new quality productivity.
7. Lithium Branch of China Nonferrous Metals Industry Association:In 2023, the lithium carbonate production capacity will be 1.1 million tons, with an output of 51790,000 tonsProduction increased by 31 percent year-on-year1%；The production capacity of lithium hydroxide is 700,000 tons, and the output is 31960,000 tons, a year-on-year increase of 301%；Lithium chloride production capacity 250,000 tons, output 1750,000 tons, the output decreased by 21 percent year-on-year2%。
8. Guangzhou, Guangdong Province: support the research and development of innovative drugs. For self-developed and transformed biological products, Class 1 traditional Chinese medicine, Class 2 high-end Chinese medicine, Class 1 chemical drugs, and Class 2 high-end chemical drugs, clinical trial research will be supported in stages, and new drug projects that start clinical phase I, II, and III studies will be given a maximum of 3 million yuan, 5 million yuan and 10 million yuan respectively after review.
Company news
1. Huawei Yu Chengdong:This fall, HarmonyOS will have the next major version of the upgradeThere may be a 30% improvement in performance.
2. Giant Network: Artificial intelligence has become a new field as important as games. In 2024, it is planned to introduce a new AI gameplay powered by GiantGPT in the mobile game "Space Kill". In addition, the newly developed AI NPCs (non-player characters) have been tested in some core products and are expected to be widely used in more products this year.
3. Economic Observation Network:It is reported thatMicrosoft plans to use Intel's 18a manufacturing technology to produce its own chipsBut it was not disclosed what the specific product was. Intel is always looking to prove its competitive strength in the foundry market. At the same time, Microsoft is also looking to secure stable semiconductors** to power its own data center operations, especially as demand for AI grows.
4. Samsung: By the end of 2024, at least 100 million Galaxy series flagship smartphones will be equipped with various artificial intelligence featuresIts AI features will be available for free on Galaxy devices until the end of 2025. And plans to bring Galaxy AI capabilities to select Galaxy wearables in the "near future".
Global Vision
1. Science and technology**:Physicists at the Massachusetts Institute of Technology in the United States have observed an elusive fractional charge effect in five layers of graphene. This is the first evidence of the "fractional quantum anomalous Hall effect" ("anomalous" refers to the absence of a magnetic field) in crystalline graphene. This will enable a new form of quantum computingThis type of computation is more resistant to perturbations.
2. CCTV News:February 21st,The Malibu area of Los Angeles has closed some of its highways due to mudslides and landslides. In addition, parts of Los Angeles and Ventura counties were closed due to flooding. At the same time, parts of southern California are facing extreme rainfall and flood warnings, and some mountainous areas will also experience extreme weather such as heavy rainfall, strong winds, and heavy snow.
Financial data
Domestic
On February 22, a total of 6,226 companies were listed, an increase of 2 on the same day, and the turnover was 16.4 billion. The three-board index was reported at 89507, down 037%, with a turnover of 09 billion.
2. Domestic commodities**:As of the afternoon of February 22**, there were more ups and fewer losses. Coking coal rose more than 4%.Shanghai nickel rose more than 3%, coke, NR, etc. rose more than 2%, ethylene glycol, urea, etc. rose more than 1%, and plastics and other small amounts**; Iron ore fell by more than 1%, palm oil, rapeseed meal and other small **.
3. Treasury bonds:On February 22, the main contract of 2-year treasury bonds** TS2406 rose 011% to 101594；The main 5-year Treasury bond ** contract TF2406 rose 015% to 103085；The main contract of 10-year treasury bond ** T2406 rose by 015% to 103765。The 10-year Treasury rate fell 086 bp, to 240%；The interest rate on the 10-year CDB fell by 165 bp to 256%。
4. Shanghai International Energy Exchange:On February 22, the main contract was 2404, with 6011 yuan barrel**, 26 yuan,The increase was 043%。All contracts traded 198124 lots, and the open interest increased by 4,673 lots to 47,444 lots. The main contract traded 176267 lots, and the open interest increased by 3,173 lots to 30,434 lots.
5. Central Bank:On the 22nd, a 7-day reverse repurchase operation of 58 billion yuan was carried out, and the winning interest rate was 180%, the same as before. Due to the expiration of 255 billion yuan of 14-day reverse repurchase on the same day, a net withdrawal of 197 billion yuan was realized.
6、shibor：Overnight 16350%，*6.30 basis points. 7-day report 18150%，*0.40 basis points. 3 months report 22190%，*2.40 basis points.
7. RMB:The onshore yuan was quoted at 7 against the US dollar at 16:30**1859，Up 00390%，The central price of the yuan was reported at 71018，Up 00169%。
8. Shanghai Environmental Exchange:On February 22, the trading volume of carbon emission allowance listing agreements in the national carbon market was 30,852 tons, with a turnover of 256070,000 yuan, **price 7933 yuan tons,Up 038%。
abroad
9. Asia: South Korea's KOSPI index rose 041%，266427 o'clock.
10. U.S. stocks: The Dow Jones closed up 118%，3906911 o'clock; The Nasdaq closed up 296%，1604162 points; The S&P 500 closed up 211%，508703 o'clock.
11. Europe: The British FTSE 100 closed up 029%，768449 points; Germany's DAX30 closed up 147%，1737045 points; France's CAC40 closed up 127%，791160 points.
COMEX closed down 018% at 2030$70 oz.
13. The settlement price of **WTI*** closed up 091%，78$61 barrel; Brent*** settlement price closed up 077%，83$67 barrel.
14. Baltic Dry Bulk Index: up 453%，at 1752 points.
Change! Panel**Full Line**
After the year, the LCD panel (including TV panels, monitor panels and notebook panels) market ushered in a "good start". According to the latest survey data from Trendforce, in February 2024, LCD TV panels** will rise across the board. $1 for small sizes. 50 inches to 65 inches**$2 per inch **$3 per inch. Monitors, laptop panels** remain unchanged. Industry insiders said2Month belongs to the off-season of the market,The price of TV panels of all sizes has increased across the board,Exceeding market expectations。 Looking forward to the whole year, there is still room for TV panels, but the specific trend is still affected by factors such as chain fluctuations and the global economic environment.
CITIC**:In March, the size of the panel manufacturers will continue to rise by 1-5 US dollars. The final transaction is $1-2 for small and medium-sized sizes and $3-5 for medium-to-large sizes. In April, the large size is still $3, which does not rule out the expansion of the increase. The year 2024 beginsUnder the combined force of many factors such as polarizers, panel factory repairs, brand inventory benignness, and good sales, the panel has landed hard and completely stabilized and started. 2024 is a big year for sports, and the preparation period for TV marketing for the European Cup, Copa America, and Olympic Games is in the first half of the year. It is expected that panel manufacturers will resolutely and continuously, at least slowly, raise prices to ensure that this wave of dividends is harvested and make profit reserves for the risks in the second half of the year.
► wit display：One year of dynamic production control, the panel duo "shrinkage" is dormant, and overcapacity has forced the industry to integrate and increase the weight. Panel manufacturers choose to control production capacity to improve performance, because they are at the trough of the industry cycle, and the demand side on the other side has been waveless for a long time. At present, the demand side of LCD panels has not improved significantly,It's just that panel manufacturers generally control production to balance supply and demand,TV LCD panel**Begin to stop falling and rise,It is expected to increase gradually by the end of February at the earliest,It is conducive to manufacturers to improve performance,But the overall revenue needs to be sacrificed。 This year, large-size LCD panels will retain certain profits under the condition of real-time production controlHowever, small and medium-sized LCD panels** are suppressed by OLED, and they are not very optimistic in the mobile phone application market, and there may be losses.
Qunzhi Consulting:In the context of the increase in the production control planning of panel factories, the increase in shipping time and cost caused by the Red Sea crisis, and the limited production capacity of upstream polarizer materials affected by Japan, although the current panel demand is in the off-season, the brand procurement strategy that originally held a wait-and-see attitude has changed, and multiple factors have promoted the TV panel** to enter the stabilization range, and then ushered in**. There is also the continuous merger and reorganization between the LCD panel industry, as the share becomes more and more concentrated, the voice of the head panel factory continues to increase. Under the trend of gradual transfer of production capacity to the mainland, and the slowdown of the mainland's investment in new LCD production lines, the acquisition and merger of existing production lines is an effective way for enterprises to continue to expand their share.