macro-economy
Central Economic Work Conference: To further promote the economic recovery, we need to overcome some difficulties and challenges, mainly including insufficient effective demand, overcapacity in some industries, weak social expectations, still many hidden risks, blockage in the domestic macro-cycle, and rising complexity, severity and uncertainty of the external environment.
Network Information Office: launched a one-month special campaign of "clearing and rectifying the problem of poor guidance of short video information content". Focus on rectifying the chaos in the field of short video, such as the loss of value orientation and the frequent occurrence of bad content, and urge the short video platform to strengthen the content review system. Comprehensively standardize the operation of short video functions, better meet the spiritual and cultural needs of the people, promote the formation of a healthy competitive environment for the short video industry, and promote the healthy and orderly development of the industry.
The General Administration of Market Supervision issued the newly revised Measures for the Administration of Industry Standards, which will take effect on June 1, 2024. The "Measures" clearly stipulate that the government is prohibited from implementing industry standards to eliminate and restrict market competition, promote continuous optimization of the business environment, and release the vitality of business entities.
Science and Technology Daily: The research results of the University of Michigan are published in the latest issue of Science Progress. The new study found that there is a strong negative correlation between reproduction and life span, which means that genetic mutations that promote reproduction often shorten life span. Interestingly, the study found that when controlling the number and time of reproduction predicted by genes, having only two children is beneficial to having the longest life.
Chen Min, Vice Minister of Water Resources: From January to November, the national investment in water conservancy construction was 1,156.5 billion yuan, a year-on-year increase of 0.9%; Among them, the implementation of bank loans was 206.4 billion yuan, a year-on-year increase of 19.7%; Social capital was 114 billion yuan, a year-on-year increase of 26.2%. The investment in water conservancy construction was 1,093.8 billion yuan, an increase of 8.5% year-on-year, which exceeded the scale completed last year.
The foreign exchange trading center issued a notice on continuing to exempt small and medium-sized enterprises from the transaction fees related to foreign exchange derivatives transactions in the inter-bank foreign exchange market. If financial institutions provide trading services for small and medium-sized enterprises through the bank-enterprise platform of the foreign exchange trading center, the foreign exchange trading center will reduce the transaction fees in the inter-bank foreign exchange market in full based on the total amount of customer transactions.
industry dynamics
Zhejiang Airport Group: As of December 11th, the province’s airports have achieved a passenger throughput of 70.24 million passengers in 2023, setting a new record. Among them, Hangzhou Xiaoshan International Airport is expected to reach the 40 million-class passenger throughput by the end of this year, returning to the ranks of the "40 million-class" busiest airports in the world.
Same-journey travel: In the seven days up to December 11th, the tourist enthusiasm of New Year’s Day holiday increased by 465% year-on-year, and the number of local hotel reservations of users increased by more than five times than usual. In terms of outbound travel, the capacity of international flights and the supply of outbound travel products have gradually recovered this year. In 2024, the popularity of outbound travel during the New Year holiday increased by more than five times year-on-year.
World Coffee Portal: At present, there are nearly 50,000 coffee shops in China, surpassing the United States to become the first in the world. The chain brands Luckin Coffee and Kudi Coffee, which are mainly sold abroad, have a net increase of more than 11,000 new stores, which is the main force to promote this growth. There are about 120,000 coffee shops in East Asia, of which China accounts for more than 40%.
CCTV News: Guangdong-Hong Kong-Macao Greater Bay Area’s first offshore wind power project with installed capacity of one million kilowatts has been fully completed and put into operation, which can generate about 3 billion kWh of electricity a year. Guangdong-Hong Kong-Macao Greater Bay Area’s first million kilowatt offshore wind farm is located in Huizhou, Guangdong Province, with 104 offshore wind turbines installed.
Interface News: Due to the recovery of consumer electronic products such as mobile phones, e-cigarettes and small household appliances, large MCU chip companies accelerated their destocking in the third and fourth quarters, while domestic MCU car-grade products also accelerated their supply to Huawei, Changan and other domestic new energy vehicles in the third and fourth quarters.
Airbus: In the next two decades, China may become the largest air service market. The average annual growth rate of air passenger traffic in China will reach 5.2%, nearly twice the global average. The demand for new aircraft in China will exceed 9,000, accounting for 23% of the total demand for new aircraft in the same period.
Flight steward: From December 4 to 10, domestic airlines flew 5,578 international flights, up 4.2% from the previous month, returning to 61.8% in 2019. Compared with 2019, the recovery rate of Shanghai Airlines in TOP10 Airlines exceeded 100%, and the recovery rates of the three major airlines all exceeded 60%, of which the recovery rate of China Eastern Airlines was nearly 70%.
China automobile dealers association: In November, the national second-hand car market traded 1,651,500 vehicles, up 2.64% month-on-month and 29.18% year-on-year, with a transaction amount of 107.001 billion yuan. From January to November, the cumulative transaction volume of used cars was 16,752,300, up by 14.65% year-on-year, up by 2,141,000 compared with the same period, and the cumulative transaction amount was 1,070,752 million yuan.
Zhongyuanyuan: In November, the real estate industry disclosed 46 M&A transactions, 11 more than last month. Among them, 40 transactions disclosed that the total transaction scale was about 25.26 billion yuan, an increase of 199.8% from the previous month, and the average single transaction scale was 630 million yuan, an increase of 19.9% from the previous month. Judging from the number and overall scale of M&A transactions disclosed, the enthusiasm of M&A activities has picked up.
China Foundation: In November, the number of newly filed private equity funds was 1,573, with a newly filed scale of 48.109 billion yuan. Among them, there are 1025 private equity investment funds, with a new filing scale of 19.85 billion yuan; 192 private equity investment funds, with a new filing scale of 15.069 billion yuan; There are 356 venture capital funds, with a new filing scale of 13.19 billion yuan. By the end of November, there were 153,698 private equity funds, with a scale of 20.61 trillion yuan.
Ping An Bank held a symposium on real estate enterprises, and executives from 12 real estate enterprises including Vanke and Greentown attended the meeting. At the meeting, Ping An Bank announced the launch of "Article 15 in Seven Categories" to increase financing support for real estate enterprises.
Company dynamics
Maotai Time and Space: Maotai Public Welfare Foundation and Kudi Coffee formally established the Youth Employment Fund of Maotai Bujiu (spent a long time) and the Rural Revitalization Fund of Maotan Liquor (Gu Zhihuan) at the () Hotel. It is reported that the above-mentioned funds are specially used for new generation employment guidance and rural revitalization assistance. Maotai Bulao Liquor (spent for a long time) and Maotan Liquor (Gu Zhihuan) in the name of the fund are two new wines, which are distributed in the new generation market. Maotai Bujiu (spent a long time) and Maotan Liquor (Gu Zhihuan) are produced by Kweichow Moutai Health Wine Company, a subsidiary of Maotai Group, and Kudi Coffee is authorized to be sold exclusively.
Country Garden: According to the actual business needs of the industry and the company, the executive directors Yang Huiyan, Mo Bin, Yang Ziying and non-executive director Chen Nai offered to reduce their salary. Among them, the annual salary of Yang Huiyan was lowered from 370,000 yuan to 120,000 yuan, and that of Mo Bin was lowered from 3 million yuan to 120,000 yuan.
Xiaomi: Recently, Yu Chengdong made false remarks against our "keel spindle" technology for no reason, which was seriously inconsistent with the facts. Please ask Mr. Yu Chengdong to follow the basic rules of "science and preciseness", and don’t discredit colleagues and mislead the public.
The Paper: It is reported that the notice of deposit payment issued by WeChat public platform has been received one after another. According to the "Regulations on the Management of Small Program Trading Margin", your small program "XX Theater" needs to pay a deposit. WeChat public platform reminds that payment must be completed before December 17th, otherwise related functions may be restricted, including but not limited to restricting applet search.
Micro-grid: It is reported that TSMC is about to finalize its future 3nm and 2nm customers. In 2025, it will begin to produce 2nm chips, and in 2024, its output of 3nm chips will increase quarter by quarter. In addition to Apple, AMD, NVIDIA, Broadcom, MediaTek and Qualcomm are also customers of TSMC’s 3nm and 2nm chips.
Important announcement
() Announcement, () The Group intends to acquire no less than 51% equity of the controlling shareholder of the company.
() The announcement of stock price changes was issued, and the application scenarios of natural language processing and multimodal capability of Pangu Mine Model were in the research and development stage.
() Issue a stock trading risk warning announcement, and the company faces risks such as failure to pay debts on schedule and potential litigation.
() Announcement, the subsidiary received 100 million yuan of subsidy funds for the promotion of new energy vehicles.
() Announcement, the actual controller will be changed to Zhangjiagang State-owned Assets Management Center.
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