1. Selection of financial news
China Securities Regulatory Commission: Increase the enforcement of illegal activities in the capital market and severely crack down on various illegal activities
The China Securities Regulatory Commission stated that, We will strictly implement the "zero tolerance" requirement, intensify law enforcement on illegal activities in the capital market, severely crack down on all types of illegal activities, and continue to purify the capital market environment. At the same time, implement the provisions of the "Measures", promptly respond to and solve new situations and new problems that arise in the implementation of the party commitment system for securities and futures administrative law enforcement, protect the legitimate rights and interests of investors in accordance with the law, maintain an open, fair and just capital market order, and promote the capital market Stable and healthy development.
Source: China Securities Regulatory Commission website
Big innovation! The China Securities Regulatory Commission has approved the launch of this financial pilot program in Shanghai
The China Securities Regulatory Commission has recently approved the launch of a pilot program for the transfer of private equity and venture capital shares in the Shanghai regional equity market.
The share transfer pilot will be carried out based on the Shanghai Equity Custody and Trading Center to gradually expand the exit channels for private equity and venture capital, promote the integrated development of private equity funds and regional equity markets, and help smooth the circulation of financial and industrial capital. At the same time, the approval also requires all parties to strictly abide by the bottom line of private equity supervision, ensure the access of qualified investors, and strictly implement daily supervision and local responsibility for risk disposal.
The implementation of this pilot project is an important measure to implement the "Opinions of the Central Committee of the Communist Party of China and the State Council on Supporting Pudong New Area's High-level Reform and Opening Up to Create a Leading Area for Socialist Modernization" in July 2021. The "Opinions" propose that "on the basis of summarizing and evaluating relevant pilot experiences, timely research will be conducted on the establishment of a private equity and venture capital equity share transfer platform in Pudong in accordance with laws and regulations to promote the development of the secondary trading market for private equity and venture capital equity shares."
Source: Shangguan News
WeChat: External links will be directly accessible in peer-to-peer chat scenarios
Publish the "WeChat External Link Content Management Specifications" for WeChat 》Update description: Direct access to external links will be available in peer-to-peer chat scenarios; direct access to e-commerce external links will be trialled in group chat scenarios.
Source: China Business News
Intensify inspections of listed companies and other entities! The "14th Five-Year Plan" for accounting reform and development is released
The Ministry of Finance recently issued the "Outline of the "14th Five-Year Plan" for Accounting Reform and Development. The "Planning Outline" clarifies a number of key points for accounting reform and development during the "14th Five-Year Plan" period, including: increasing inspections of listed companies and other entities and related accounting firms in accordance with the law, increasing administrative penalties for violations of laws and regulations, and Public exposure.
Source: China Securities Journal
The National Development and Reform Commission released the first batch of national logistics hub construction lists during the "14th Five-Year Plan"
Recently the National Development and Reform Commission issued The "Notice on Doing a Good Job in the Construction of the First Batch of National Logistics Hubs during the "14th Five-Year Plan"" included 25 hubs in the list of the first batch of national logistics hubs during the "14th Five-Year Plan". Among them, 8 are in the eastern region, 6 are in the central region, 8 are in the western region, and 3 are in the northeastern region. At present, the National Development and Reform Commission has taken the lead in the layout and construction of 70 national logistics hubs. The hub network covers 29 provinces (autonomous regions and municipalities) across the country and the Xinjiang Production and Construction Corps. In order to accelerate the construction of a modern logistics operation system of "channel + hub + network" , laying a solid foundation to support the construction of a new development pattern. In the next step, the National Development and Reform Commission will establish and improve the daily operation monitoring system of hubs and conduct dynamic monitoring of the operation of hubs that have been included in the annual construction list. The National Development and Reform Commission will provide appropriate support to eligible projects through central budget investment, local government special bonds and other policy channels or by recommending them to relevant financial institutions.
Source: Securities Times Network
(Investment consultant? Cai Jin? Registered investment consultant certificate number: S0260611090020)
II. Market hot spots
Market comments: The index opened lower and moved higher, and the market recovery was the main focus.
The market indexes in the two cities opened lower and moved higher on Monday, and the total market transaction amount increased compared with the previous trading day. Specifically, the Shanghai Composite Index closed down 0.04%, closing at 3562.70 points; the Shenzhen Component Index rose 0.22%, closing at 14810.2 points; the GEM rose 1.00%, closing at 3503.41 points.
On the market, military industry stocks, testing stocks and Tesla concept stocks performed actively and were among the top gainers, while oil and gas concept stocks performed relatively weakly. Affected by the news of the new virus, the index opened lower in early trading and then steadily rose, with market stocks mainly recovering. Judging from the trend, the downward buying of the index is strong and has a certain degree of resilience. In the short term, the index level will be weakened, and we should respond with a mid-line layout thinking.
In terms of operations, the activity of individual stocks continues to improve, grasping the rhythm of rapid switching of hot spots. From a mid-term perspective, it is recommended to pay attention to high-quality leading companies in the mid and downstream of lithium batteries, military industry, photovoltaics, energy storage, chips, and consumption, as well as stocks with good third-quarter reports.
(Investment advisor? Yu Dechao? Registered investment advisor certificate number: S0260613080021)
Macro perspective: WHO assesses the global risk of the Omicron strain as "very high"
CCTV News, on November 28, local time, the WHO stated in a technical briefing issued to member states that in view of the potential for immune evasion of the new coronavirus mutated Omicron strain and the possibility of causing infection There is a high possibility that the Omicron strain will spread further around the world, and there may be a surge in COVID-19 cases in the future, causing serious consequences. Therefore, the overall global risk of the Omicron strain is assessed as "extraordinary" high".
Source: CCTV News
Comment: The spread of the new coronavirus variant Omicron strain has brought new uncertainty to the global economy. This will once again delay the withdrawal of monetary stimulus policies in countries such as the United States, which is good news for the capital market.
(Investment consultant? Cai Jin? Registered investment consultant certificate number: S0260611090020)
Nonferrous metal industry: Magnetic materials benefit from motor policies, and lithium prices rise during peak demand season
On November 23, the Ministry of Industry and Information Technology and the State Administration for Market Regulation recently jointly issued the "Motor Energy Efficiency Improvement Plan (2021-2023)", aiming to achieve an annual output of high-efficiency energy-saving motors of 170 million kilowatts by 2023, and the proportion of high-efficiency energy-saving motors in service to reach 20 %above. At present, the penetration rate of NdFeB motors in industrial motors is less than 5%. As the most widely used industrial motor, the increase in energy consumption standards will significantly increase the demand for NdFeB motors. The amount of NdFeB used in industrial motors is about 0.2-0.5kg/Kw. In 2020, my country's total industrial motor production will be 230 million Kw. If the penetration rate of NdFeB motors increases to 10%, it will drive the demand for NdFeB by 4600- 11,500 tons/year; the motors in service are about 2 billion Kw. If the penetration rate of NdFeB motors increases by 10 PCT, it will drive the demand for NdFeB motors to 40,000-100,000 tons.
Last week, the price of lithium carbonate in Wuxi rose by 0.45% to 225,500 yuan/ton, the price of Baichuan industrial carbon and electric carbon rose by 0.80% and 1.00% to 19 and 202,400 yuan/ton, and the price of lithium hydroxide remained unchanged. 198,900 yuan/ton, and the price of spodumene increased by 11.59% to US$2,215/ton. Lithium ore prices are rising at an accelerated pace, and the rapid rise in costs continues to provide strong support for lithium salt prices. Affected by the weather, the operating rate and output of lithium carbonate continued to fall by 0.49% this week to 52.9%, 4,486 tons, and inventory fell by 1.63% to 6,595 tons. The fourth quarter is the peak season for new energy vehicle consumption, and demand continues to maintain high growth. Lithium carbonate inventories continue to be depleted, and prices show signs of accelerating rise. The operating power and output of lithium hydroxide this week increased by 0.56%, 0.57% to 63.3%, and 4398 tons respectively. Production of various manufacturers gradually resumed, but the market demand for downstream high-nickel ternary materials has weakened, causing the price of lithium hydroxide to consolidate at a high level. Lithium hydroxide stocks rose 1.72% to 254 tons.
Source: Cinda Securities Research Report
Comment: In the context of the "double carbon" goal, attach importance to the historic investment opportunities in new energy and new materials, focusing on strong demand and weak demand The supply pattern of new energy metals (lithium, cobalt, nickel and rare earths) and new metal materials that benefit from industrial upgrading and domestic substitution.
(Investment consultant Yu Dechao registered investment consultant certificate number: S0260613080021)
3. New share subscription tips
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4. Recommendation of key stocks
See "Early Trading Viewpoint" for complete Edition (monthly customization path: Discovery - Information - Paid Information - Early Trading Viewpoint; single article customization path: Discovery - Gold Medal Stock Appraisal - Early Trading Viewpoint)