01/ Morning introduction of Asian business investment consultants
1. In order to further stabilize and expand automobile consumption, the Ministry of Commerce will organize activities to promote automobile consumption
2. In May, the central bank’s gold reserves increased by 510,000 ounces month-on-month, increasing gold reserves for the seventh consecutive month
3. The three major U.S. stock indexes closed up across the board, while the three major European stock indexes closed mixed
4. In high temperature mode, many air-conditioning manufacturers have stepped up production scheduling
02/ News Breakfast of Asia Business Investment Consultant
// Spotlight //
1. In order to further stabilize and expand automobile consumption, according to the "2023 Consumption Boost Year" activity arrangement, the Ministry of Commerce will organize automobile consumption promotion activities. The specific activities are arranged as follows: 1) "Hundred Cities Linkage" Auto Festival, establish a list of "Hundred Cities Linkage" key activities; focus on the whole chain to promote automobile consumption; strengthen car purchase preferential policy support. 2) "Thousands of counties and ten thousand towns" new energy vehicle consumption season, hold a series of consumption season activities; promote marketable models to the countryside; promote the sinking of after-sales service networks; promote the improvement of rural charging infrastructure.
2. The State Council recently issued the "2023 Legislative Work Plan of the State Council". In terms of implementing the strategy of rejuvenating the country through science and education and promoting cultural self-confidence and self-improvement, we are planning to submit the revised draft of the Teachers Law, the draft of the Radio and Television Law, and the draft of the Artificial Intelligence Law to the Standing Committee of the National People's Congress for deliberation.
In March, the central bank's gold reserves increased by 510,000 ounces from the previous month. This is the seventh consecutive month that the central bank's gold reserves have increased, with a cumulative scale of more than 131 tons. According to a previous survey report by the World Gold Council (WGC), 71% of the surveyed central banks expect that the central bank's overall gold holdings will increase this year. Behind the continuous increase of central banks’ gold holdings is the continued wave of global de-dollars, and central banks’ views on the dollar are more pessimistic than previous surveys.
4. At the 2023 China Automobile Chongqing Forum, Zhu Huarong, Chairman and Secretary of the Party Committee of Changan Automobile, delivered a speech saying that the division of labor in the automobile industry is in an unstable state, and business boundaries are being reconstructed, with a tendency of mutual penetration. Zhu Huarong predicts that by 2025, China will need 1,000-1,200GWh of power battery production capacity, and the current industry capacity planning has reached 4,800GWh. Zhu Huarong pointed out that the current production capacity is seriously overcapacitated, and the industry will return to a rational state.
// Global Market //
1. The three major U.S. stock indexes closed up across the board. The Dow closed up 0.50% at 33833.61 points; the Nasdaq closed up 1.02% at 13238.52 points; the S&P 500 closed up 0.62% at 4293.93 points. Most of the large technology stocks rose, Apple rose 1.55%, Microsoft rose 0.58%, Tesla rose 4.58%, Google fell 0.29%, Amazon rose 2.49%, Meta rose 0.37%, Nvidia rose 2.76%, Intel rose 1.73%, Netflix down 2.40%. Popular Chinese concept stocks rose collectively. The Nasdaq China Golden Dragon Index rose 1.59%, Alibaba rose 1.01%, JD.com rose 0.78%, Pinduoduo rose 3.35%, Weilai Automobile rose 0.39%, and Xiaopeng Automobile rose 0.95%. Auto rose 0.66%, Bilibili rose 1.53%, Baidu rose 0.46%, Netease rose 1.37%, and iQiyi rose 5.65%.
2. The three major European stock indexes closed mixed. The German DAX 30 index closed up 0.18% to 15989.96 points. The French CAC 40 index closed up 0.27% at 7222.15 points. Britain's FTSE 100 index closed down 0.32% at 7599.74 points.
3. International oil prices fell across the board. WTI July crude oil futures closed down 1.71% at $71.29/barrel; Brent August crude oil futures closed down 1.29% at $75.96/barrel.
// Macro //
1. Li Yunze, director of the State Financial Regulatory Administration, said at the 14th Lujiazui Forum that the State Financial Regulatory Administration and Shanghai will jointly issue implementation rules on accelerating the construction of Shanghai International Reinsurance Center and officially launch the Shanghai Reinsurance International Board.
2. In response to the sudden network outage of Guangdong Telecom in the afternoon of June 8, on the evening of the 8th, the Guangdong Provincial Communications Administration convened relevant persons in charge of Guangdong Telecom, Guangdong Mobile, Guangdong Unicom, Guangdong Radio and Television, and Guangdong Tower to hold an emergency dispatch meeting for network operation safety . Guangdong Telecom notified Guangdong Telecom's sudden network failure and emergency response on the afternoon of the 8th. Under the remote command of the Ministry of Industry and Information Technology and China Telecom Group Corporation, the Guangdong Provincial Communications Management Bureau commanded on-site, Guangdong Telecom's front-line disposal, and restarted the link through emergency measures. Measures to carry out emergency repairs. As of 17:50 on June 8, the network operation of Guangdong Telecom returned to normal.
3. The El Niño phenomenon does exist and may gradually strengthen from 2023 to early 2024. According to the forecast, from November this year to January next year, there is a 56% probability of a strong El Niño, and an 84% probability of exceeding a moderate intensity. That could lead to a 34 percent drop in winter crop production in Australia from record highs and affect palm oil and rice production in Indonesia, Malaysia and Thailand.
4. Following the decline in the overall heat of the property market in April, the property market continued to cool down in May. Monitoring data from a number of research institutions showed that the activity of the real estate market further declined in May. The sales area in most cities continued to decline month-on-month.
// Industry //
1. This week, the single crystal re-feeding price range is 85,000-105,000 yuan/ton, and the average transaction price is 97,700 yuan/ton, a week-on-week decrease of 17.06%; The average price was 95,900 yuan/ton, a week-on-week decrease of 16.68%. The price range of domestic N-type materials is 100,000-110,000 yuan/ton, and the average transaction price is 103,900 yuan/ton, a week-on-week decrease of 16.48%. There is not much room for the price of silicon materials to fall again, and the price will rebound quickly after bottoming out, and there is a high probability that it will fluctuate around 100,000 yuan/ton in the future.
2. The launch conference of the Intelligent Connected Vehicle Innovation Leading Zone in the Lingang New Area was held in Lingang, Shanghai. 15 vehicles from four companies, Daozhitu, Tucson Future, Saike Intelligent, and Yunji Zhixing, were awarded the National The first batch of road test licenses for unmanned intelligent connected vehicles. Participants said that this not only provides operational guidelines for the innovative application of commercialization of autonomous driving, but also guarantees that there are laws to follow in terms of enterprise access, road traffic pilots, and vehicle-road coordination, and promotes the commercialization of autonomous driving. Substantial "unmanned" stage.
3. In recent years, the number of infertile people has increased, but the price of assisted reproduction, especially IVF technology, is relatively high. Under such circumstances, many places have introduced measures to provide subsidies to families receiving assisted reproductive technology to alleviate this problem. burden of a group of people. Recently, Dehua County, Fujian Province introduced measures to provide a one-time subsidy of 20,000 yuan for those who use "test-tube baby" assisted reproduction after the birth of the child;
4. In the high temperature mode, many air-conditioning manufacturers have also stepped up production scheduling. According to third-party data, the output of air-conditioning companies in June was 17.78 million units, a year-on-year increase of 38.6%. Among them, 11.77 million units were scheduled for domestic sales, a year-on-year increase of 37.7%.
5. Train tickets are on sale on the first day of the Dragon Boat Festival holiday. According to platform data, although the Dragon Boat Festival is not as tense as the "May Day" ticket grabbing, tickets for popular routes are still "empty in seconds." From the perspective of the overall booking situation of transportation products, as of now, the number of train ticket bookings on the first day of the Dragon Boat Festival and the day before last year has increased by more than 30 times compared with last year, the number of air ticket bookings during the Dragon Boat Festival has increased by more than 7 times compared to last year, and the number of car rental bookings has increased compared to last year. increased by nearly 4 times.
6. Recently, a number of pig companies disclosed their live pig sales briefing in May. Among the three major listed pig companies, the sales volume of Muyuan Co., Ltd. continued to grow month-on-month and decreased year-on-year, while the sales volume of Wen’s Co., Ltd. and New Hope decreased month-on-month and increased year-on-year. Based on calculations based on the number of fertile sows on hand, it is expected that the supply of live pigs will remain at a high level in the second half of 2023, and it is expected to fall slowly by the end of the year. According to the analysis of the global and domestic soybean and corn supply and demand situation, it is expected that the cost of pig breeding in my country may continue to fall in the second half of 2023.
7. A few days ago, Nvidia officially announced that at the 2023 Shanghai International Embedded Exhibition from June 14th to 16th, China Power Port, located at booth A358, will showcase the Nvidia Jetson edge computing platform suitable for autonomous machines and many other embedded applications. It also brings solutions built by ecological partners based on relevant software and hardware in multiple vertical industries such as transportation, industry, and robotics.
8. According to sources, Samsung plans to increase the price of NAND wafers. Samsung and SK Hynix have been seeking to increase the price of NAND flash memory by 3%-5% before, and said that the price of NAND flash memory has fallen below the variable cost, and the price of some brand SSDs is close to the price of HDD. In addition, if the consumer electronics market demand improves in the second half of the year, NAND wafer contract quotations are expected to stabilize.
03/ Subscription for new shares of Asia business investment consultant
New stocks (including CBEX): Tiangang, Weston, Zhixiang Jintai, Haikan
New Convertible Bonds: Jinpu Convertible Bonds
New stocks listed on Friday: Tianjian, Astor, Haojiang Intelligent
Convertible bonds listed on Friday: None
Reference materials: Financial Associated Press, Wind Information
Shanghai Asia Business Investment Consulting Co., Ltd. (referred to as Asia Business Investment Consulting), established in 1994, is a securities investment consulting agency licensed by the China Securities Regulatory Commission (license number: ZX0072).
In the course of more than 20 years of development, Asia Business Investment Consulting has grown along with the development of China's capital market. In the future, Asia Business Investment Consulting will continue to stay true to its original aspiration and keep its mission firmly in mind to build a financial service institution recognized, trusted and respected by investors.
Disclaimer: This page is based on public data, and the content is for learning and reference only, and does not constitute investment advice. Investors should choose carefully, make decisions independently, and bear their own risks. Investment is risky, and you need to be cautious when entering the market.