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A-share evening hot topics | Three departments deploy! Support insurance funds to set up private equity investment in the stock market and hold for the long term.

The following is the text of the evening news: 1. Three ministries: Support insurance companies to initiate the establishment of private equity funds to invest in the stock market and hold for the long term Importance: The General Office of the China Banking and Insurance Regulatory Commission, the General Office of the Ministry of Science and Technology, and the General Office of the National Development and Reform Commission issued the "Implementation Plan for High-Quality Development of Science and Technology Finance in the Banking and Insurance Industry". It mentioned the promotion of pilot policies for science and technology finance. Equity investment pilot of financial asset investment companies will be gradually expanded to regions with strong economic strength, a large number of technology companies, substantial R&D investments, and active equity investments. Deepen the pilot reform of long-term investment of insurance funds, support insurance companies to initiate the establishment of private equity funds, invest in stocks and hold for the long term. Launch pilot programs for technology company mergers and acquisitions loans, study the expansion of pilot banks, regions, and enterprises, and support technology companies, especially "chain-leading" enterprises, to carry out industrial integration and facilitate capital circulation. 2. Highest reward of 1.5 billion, Guangdong supports artificial intelligence and Siasun Robot&Automation industry on a large scale Importance: On April 1st, the press conference on the "Several Policy Measures to Promote Innovation and Development of Artificial Intelligence and Siasun Robot&Automation Industry in Guangdong Province" was held in Guangzhou. The key points of the meeting are as follows: 1. By 2024, the scale of the core artificial intelligence industry in Guangdong will exceed 220 billion yuan, firmly ranking first in the country, and the industrial output of Siasun Robot&Automation has ranked first in the country for five consecutive years since 2020. 2. Strive to achieve the goal of "one batch of six," accelerate the building of a global highland for artificial intelligence and Siasun Robot&Automation industries. 3. Promote the application of "Siasun Robot&Automation+" scenarios and continuously expand the application scenarios of Siasun Robot&Automation. 4. Continuously organize and implement flagship programs for "next-generation artificial intelligence" and major projects for "intelligent Siasun Robot&Automation", creating a national hub for general artificial intelligence innovation and a global highland for artificial intelligence and Siasun Robot&Automation industries. 5. Attract well-known global artificial intelligence and Siasun Robot&Automation multinational companies, with a maximum reward of 1.5 billion for individual foreign investment projects. 3. Insider: Trump will not announce any details about pharmaceutical tariffs on Wednesday Importance: According to sources familiar with the matter, pharmaceutical companies are lobbying U.S. President Trump to gradually impose tariffs on imported drugs in order to reduce the impact of tariffs and provide time for production relocation. Trump said that after imposing tariffs on other industries, he will soon announce tariffs on the pharmaceutical industry, which had previously been exempted. However, insiders understand that Trump will not announce any specific details about pharmaceutical tariffs on Wednesday. Nevertheless, major multinational pharmaceutical companies now expect that tariffs on medical products in the United States are inevitable and hope to ensure that tariffs gradually increase to 25%, rather than starting at 25% from the first day. 4. Market value shrinks by 80 billion, doubts remains about AEB intervention, Xiaomi SU7 faces "darkest moment" Importance: Xiaomi SU7, which has just completed its first year of delivery, is facing its "darkest moment". Affected by the Xiaomi SU7 incident, Xiaomi Group's Hong Kong stocks dropped sharply after the afternoon session, closing down by 5.59% on the day, with a market value shrinking by 80 billion yuan from the previous trading day. It is worth noting that although some details of the incident have been disclosed, Xiaomi's statement did not mention the AEB status of the accident vehicle, nor did it respond to the issue raised by the relatives of the accident driver about the inability to open the doors after the accident. 5. People's Bank of China: Establish a policy framework for integrated funds in both local and foreign currencies Importance: The People's Bank of China has publicly solicited opinions on the "Notice on the Management Regulations for Cross-Border Companies' Integrated Funds in Local and Foreign Currencies (Draft for Soliciting Opinions)". The "Notice" addresses the current issues with various versions of fund pools and separate management of local and foreign currencies. The "Notice" will integrate the operation of local and foreign currency fund pools into a unified policy framework, further facilitate fund transfer and utilization, and encourage the use of local currency for fund pool operations. Operationally, local foreign exchange bureaus at all levels will provide a "one-stop" service to accept enterprise records, change applications, etc., reducing the "hidden costs" for enterprises. 6. Performance report of new energy vehicle startups for March, Xiaopeng's delivery volume increased by 268% year on year Importance: On April 1st, several new energy vehicle companies successively announced their performance for March. Specifically, - Xpeng Motors delivered 36,674 new cars in March, a year-on-year increase of 26.5%; - Xiaopeng Motors delivered a total of 33,205 intelligent electric vehicles in March, a year-on-year increase of 268%, exceeding 30,000 units for the fifth consecutive month; - LEAPMOTOR delivered 37,095 units in March, a year-on-year increase of over 154%; - Xiaomi Automobile delivered over 29,000 vehicles in March; - NIO delivered 15,039 new vehicles in March, a year-on-year increase of 26.7%; - BYD Company Limited sold 377,420 new energy vehicles in March, compared to 302,459 in the same period last year. 7. Beijing Stock Exchange clarifies the regulatory orientation of refinancing, supports listed companies in raising funds through the issuance of convertible bonds Importance: The Beijing Stock Exchange recently issued the latest issue of the listing and issuance audit dynamics to the industry, clarifying the regulatory orientation of refinancing of listed companies in the Beijing Stock Exchange from eight dimensions: balance of refinancing varieties, "support, restrict, limit", lawful and standardized operation, sustainable operation capability, use of previous fundraising, use of this fundraising, investor protection measures, and pre-communication mechanism. Regarding the balance of refinancing varieties, the Beijing Stock Exchange stated that it supports listed companies in raising funds through the issuance of convertible bonds.The dilution effect of equity in listed companies is relatively mild. Investors have the guarantee of debt bottom as income protection. At the same time, under the influence of factors such as the mechanism for determining conversion prices, the adjustment of attributes, the lock-up period, and the method of transfer, the risk is relatively controllable, and the audit tolerance can be appropriately increased. Encouraging listed companies to set a certain premium rate for convertible bonds based on their financing situation, to prevent improper dilution of shareholders' equity.1. US stocks weaken: Dow Jones falls 0.58%, Johnson & Johnson drops over 3% US three major indices collectively opened lower, followed by weak fluctuations. As of 22:00, Dow Jones fell 0.58%, Nasdaq fell 0.21%, and S&P 500 Index fell 0.31%. Johnson & Johnson dropped over 3%. Earlier, a US judge rejected Johnson & Johnson's $100 billion offer to settle talcum powder cancer claims. Taiwan Semiconductor Manufacturing Company (TSMC) also dropped over 3%, with previous reports stating that SMIC is considering a merger with United Microelectronics Corporation (UMC). Conservative US media company Newsmax rose nearly 50%, with the stock surging over 700% the previous trading day. 2. Eurozone inflation cools, European Central Bank may continue to "stand still" On April 1st, Eurostat released preliminary data on inflation in the Eurozone for March, following the European Central Bank's announcement of a 25 basis point rate cut at its March meeting. The data showed that Eurozone CPI in March increased by 2.2% year-on-year, in line with market expectations and slightly lower than the previous value (2.3%). In terms of inflation composition, the service sector inflation continues to contribute the most, but the year-on-year growth rate has slowed from 3.7% in February to 3.4%. For the European Central Bank, despite inflation data for March moving further towards its 2% target rate, the Eurozone economy still faces significant uncertainty. After the data release, there were voices in the market suggesting that the European Central Bank may choose to continue to "stand still" at its April meeting. 3. Trump hints at Musk and Efficiency Department work ending, term may end in May While signing an executive order at the White House, Trump mentioned that Musk must return to full-time management of his company, and after dismissing tens of thousands of government employees, DOGE's mission will be complete. Trump stated, "I think he's great, but I also think he needs to run a big company, so eventually he will go back. He wants to go back. As long as I can keep him, I will keep him." Musk is classified as a special government employee and his service term at the White House does not exceed 130 days, with his term expected to end at the end of May. However, White House officials had previously stated in February that there were no signs of Musk's cooperation with Trump ending and that "he will always be here." 4. Is the dawn of a Russia-Ukraine ceasefire fading? Ukrainian bonds are being sold off Market data shows that Ukrainian GDP-linked GDP warrants plummeted nearly 4 cents in the middle of Monday's session, returning to levels before Trump's victory in last year's election, before narrowing part of the decline and closing at 72.34 cents. If not for the rebound in the late session, this could have been the largest single-day drop in this type of bond since the outbreak of the Russia-Ukraine conflict in 2022. Kaan Nazli, Emerging Market Investment Portfolio Manager at Neuberger Berman holding Ukrainian bonds, pointed out that since Trump's call with Putin last month, Ukrainian bond prices have been steadily declining. Nazli stated that the market has certainly begun to believe that the war will continue for a longer period. Additional topics: Self-selected brother summarizes the investment opportunities of market concern and finds that dexterity etc. are being paid attention to. 1. Unitree Technology releases Unitree Dex5 dexterity hand On April 1, Unitree Technology updated a video on its official Weibo account, releasing the Unitree Dex5 dexterity hand. In terms of performance, this dexterity hand has 20 degrees of freedom per hand (16 active + 4 passive), smooth reverse driving (direct body force control), and 94 sensitive touch points. Minmetals Securities released a research report stating that the core ability of humanoid Siasun Robot & Automation lies in generalization, and dexterity is the key to this feature. Currently, there is still room for significant improvement in dexterity technology, which is a bottleneck in the industry chain. From the perspective of AI data closed-loop, dexterity hand is an important bridge for humanoid Siasun Robot & Automation to interact with the outside world, and it is a crucial window for collecting data from the physical world. Classified by transmission method, dexterity hands include gear, rod, and rope drive types, each with its own advantages and disadvantages. In the current market, domestic companies tend to focus on rod solutions, while overseas companies are more inclined towards tendon rope solutions. Minmetals Securities is optimistic about five major directions: micro motors, drive control chips, micro lead screws, tendons, and sensors. In addition, the following sectors are worth paying attention to: 2. Photovoltaics | TCL Zhonghuan Renewable Energy Technology raises silicon wafer prices due to the impact of the earthquake in Myanmar. 3. Poultry farming | The price of white-feathered chicken has risen by about 40% compared to a month and a half ago. 4. Controlled nuclear fusion | Shanghai Future Industries Fund, worth hundreds of billions, aims at controlled nuclear fusion. 5. Sodium-ion batteries | China has made significant breakthroughs in sodium-ion battery technology, with experts stating that sodium-ion batteries may become lithium battery price stabilizers in the future. 6. Agricultural machinery | Shandong: will promote large-scale agricultural machinery updates, adding more than 150,000 high-end intelligent farming machines. In terms of positive announcements, the self-selected brother suggests paying attention to Zhejiang Guyuelongshan Shaoxing Wine's price increase for some products, etc.; in terms of negative announcements, be aware of the 6-day, 3-board Lanzhou LS Heavy Equipment Co., and suggest caution, etc. Positive announcements: 1. Zhejiang Guyuelongshan Shaoxing Wine: Price increase for some products 2. BYD Company Limited: March sales of new energy vehicles reach 377,400 units 3. Ningbo Shenglong Automotive Powertrain System: Received a project notification from a well-known flying car company in China, with an estimated total sales amount of 120 million yuan over 5 years. 4. Tianyang New Materials (Shanghai) Technology: Controlling shareholder planning control change matters, stock trading suspended. 5. Huadong Medicine: Sirumei Regulupeptide Injection market approval application accepted. 6. L&K Engineering: New Axel Xiang,etc.The Slope Branch intends to win the bid for a project worth about 3.163 billion yuan.7. Shanghai Sunglow Packaging Technology: Net profit in 2024 was 65,357,500 yuan, a year-on-year increase of 750.39%. Negative announcement 1. Lanzhou LS Heavy Equipment Co., Ltd.: The company failed to disclose significant information that should have been disclosed. 2. Taier Heavy Industry: Controlling shareholder and actual controller Tang Zhengbiao has been placed under investigation and filed a case. 3. Jiayu Holding: The Shenzhen Stock Exchange is planning to terminate the company's stock listing. 4. Shanghai Jiao Yun Group: Net loss in 2024 was 391 million yuan, a year-on-year reversal to a loss. 5. AECC Aviation Power: Net profit in 2024 was 860 million yuan, a year-on-year decrease of 39.48%. This article is reprinted from "Tencent Stock Picks", edited by GMTEight: Xu Ran.
01/04/2025

Jiangxi Wannianqing Cement (000789.SZ) has repurchased 4.48% of its shares, spending 185 million yuan.

Jiangxi Wannianqing Cement (000789.SZ) announced that as of March 31, 2025, the company repurchased 35.75 million shares of the company through a special repurchase account in a centralized bidding manner, accounting for 4.48% of the total share capital of the company; The total transaction amount was 185 million yuan (excluding transaction costs).
01/04/2025

Some directors and senior executives of Beyondsoft Corporation (002649.SZ) plan to collectively reduce their holdings by no more than 39,000 shares.

Beyondsoft Corporation (002649.SZ) announcement that directors Wang Lina and senior management Yan Yuguang, Wu Di, Li Quan you, and Wang Wei plan to reduce their holdings in the company through centralized bidding trading on the secondary market by a total of no more than 39,000 shares (0.0067% of the company's total share capital) within 3 months after 15 trading days from the date of this announcement (expected to be from April 25, 2025 to July 24, 2025, and not during sensitive periods).
01/04/2025

Hubei Xiangyuan New Material Technology Inc. (300980.SZ) shareholder Linghui Investment plans to reduce its holdings by up to 949,500 shares.

Hubei Xiangyuan New Material Technology Inc. (300980.SZ) announcement, the company's shareholder Ningbo Meishan Free Trade Port Area Linghui Investment Partnership Enterprise (limited partnership) (referred to as "Linghui Investment") plans to reduce its total holding of company shares by no more than 949,500 shares through centralized bidding or block trading (accounting for no more than 0.70% of the company's total share capital excluding repurchased shares, and no more than 0.69% of the company's total share capital as disclosed in the latest disclosure), to be implemented within 3 months from the date of this announcement after 3 trading days.
01/04/2025

Industrial: What are the industries currently performing well at low levels?

Industrial4 (1) In the AI industry chain, priority should be given to the upstream hardware with performance certainty The overcrowding in most directions of the AI industry chain has been greatly alleviated, but in the more performance-focused April, it is still important to find directions with strong internal performance certainty and cost-effectiveness. The AI sector itself is a huge industry chain covering upstream computing power hardware, midstream software services, and downstream applications. After the previous adjustment, the overcrowding in most directions has been reduced to a low level. In April, which is more focused on performance, it is worth actively paying attention to and laying out directions that are relatively low and supported by performance. Considering the changes in profit expectations since the beginning of the year, the directions in the AI industry chain that are expected to improve performance are mainly concentrated in the upstream hardware sector, while some sub-segments of the midstream and downstream software applications sectors are also expected to improve, including: Upstream computing power hardware: optical modules, PCBs, liquid-cooled servers, GPUs, fiber optic cables. Midstream and downstream software applications: financial technology, drones (low-altitude), autonomous driving. From the perspective of the matching of stock price and performance, most industries have not seen a significant cumulative increase since the beginning of the year, and some have been at the forefront of the improvement in profit expectations, and are expected to benefit from the improvement in performance certainty. (2) Focus on the cyclically favorable directions with low positions and leading improvement in profit expectations By screening the changes in profit expectations of various industries since the beginning of the year, the directions with potential for performance improvement are mainly concentrated in some consumer, financial, infrastructure, and export chains, including: Home appliances (white goods, kitchen appliances), automobiles, consumer electronics, benefiting from the policy of replacing old with new and expanding consumer subsidies; Banks and insurance companies benefiting from the "good start" effect at the beginning of the year; Infrastructure chains (cement, etc.) benefiting from fiscal efforts and debt-to-equity swaps; Seasoning products benefiting from the peak season effect of the Spring Festival; Export chains (motorcycles, white goods, etc.) benefiting from "grabbing exports"; In addition, there are securities firms (increased market trading activity) and precious metals (rising gold prices). From the perspective of the matching of stock price and performance, select the low-position high-performance directions, mainly including consumer goods (white goods, seasonings, professional chains), financial services (securities, state-owned banks, insurance), infrastructure and real estate chains (cement, real estate services), TMT (digital media, advertising, communication equipment), etc. Risk Warning Fluctuations in economic data, policy easing lower than expected, Federal Reserve interest rate cuts not meeting expectations, etc.
01/04/2025

Sichuan Newsnet Media (300987.SZ) plans to increase capital by 10 million yuan to its wholly-owned subsidiary, Spicy Community.

Sichuan Newsnet Media (300987.SZ) announced that Sichuan Malatang Community Network Media Co., Ltd. (referred to as "Malatang Community") is a wholly-owned subsidiary of the company. Since its establishment, the influential comprehensive online community Malatang Community has developed into a network interactive platform with a large user base and diverse content sections, playing an important role in online governance, public opinion monitoring and response, and user interaction. With the rapidly changing market demand and continuous technological innovations in the industry, Malatang Community faces challenges in business expansion, technology upgrades, and user experience improvements. In order to enhance the core competitiveness of Malatang Community, promote its sustained and healthy development, the company plans to increase its capital by 10 million yuan through monetary funds to Malatang Community. After the capital increase, Malatang Community will have a registered capital of 20 million yuan and will remain a wholly-owned subsidiary of the company.
01/04/2025

Director Yu Jun of Simei Media (002712.SZ) plans to reduce his holdings by no more than 317,900 shares.

Announcement from Simei Media (002712.SZ): The company's director and executive vice president, Yu Jun, plans to reduce his holdings of the company's shares. He plans to sell a total of no more than 317,900 shares through centralized bidding or block trading within three months from the date of this announcement, starting from 15 trading days after the disclosure date.
01/04/2025

Suzhou Goldengreen Technologies (002808.SZ) signed a framework cooperation agreement with China Internet Network Information Center.

Suzhou Goldengreen Technologies (002808.SZ) announced that the company recently signed a "Framework Cooperation Agreement" with the Guangzhou Zhongwang Data Element Development Research Institute (referred to as "Zhongwang Research Institute"). The agreement focuses on the value realization and intelligent development of high-quality language data in the field of the Internet of Vehicles. Leveraging the technical advantages of Zhongwang Research Institute (data space architecture, high-quality language data library construction, training ground design), the company has established a comprehensive strategic partnership with the institute.
01/04/2025

Anji Microelectronics Technology (688019.SH): "Anji Convertible Bonds" will open for subscription on April 7th.

Anji Microelectronics Technology (688019.SH) announced that the convertible corporate bonds issued this time are abbreviated as "Anji Convertible Bonds", with the bond code being "118054". A total of 830.5 million yuan worth of convertible bonds were issued this time, with each note having a face value of 100 yuan, totaling 8,305,000 notes. The bonds were issued at face value. The original shareholders have the priority to subscribe for the convertible bonds on the same day as the online subscription day, which is April 7, 2025 (T day). The online subscription time is from 9:30 to 11:30 and 13:00 to 15:00 on T day.
01/04/2025

Global Infotech (300465.SZ) shareholder UnionPay Technology plans to reduce its shareholding by up to 1%.

Announcement from Global Infotech (300465.SZ): Shareholder UnionPay Technology Co., Ltd. ("UnionPay Technology") plans to reduce its holdings of the company's shares by a total of no more than 1% of the total shares within 3 months after 15 trading days from the disclosure date of this announcement through centralized bidding.
01/04/2025
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