Zhitong Hong Kong Stocks Early Insight | Zhongban, Guoban: Data industry will be included in the guidance catalog for industrial structure adjustment as an encouraged development category. Nasdaq China Golden Dragon Index fell by 1.29%

[Today's Headlines]

Central Office, State Office: Data Industry Included in the Guiding Catalog for Industrial Structure Adjustment to Encourage Development

The General Office of the Communist Party of China Central Committee and the General Office of the State Council issued opinions on accelerating the development and utilization of public data resources to promote the development of the data industry ecosystem. The data industry is included in the guiding catalog for industrial structure adjustment to encourage development, supporting technological innovation applications such as data collection, annotation, analysis, circulation, utilization, and data security. It encourages the development of various forms of data products such as data models, data verification, evaluation indices, etc. Focusing on data collection, storage, calculation, and management, it nurtures high-level data element-type enterprises. Emphasis is placed on computing power networks and trusted circulation, supporting the development of data infrastructure enterprises. Implementation of policies such as additional deduction of R&D expenses and tax incentives for high-tech enterprises. Support for the development of data industry associations, societies, and industry alliances to consolidate industry consensus, strengthen industry self-discipline, and promote industry development.

It is mentioned that efforts will be made to increase support for the construction of data infrastructure and data security capabilities through central budget investments. Local governments and departments can coordinate the allocation of funds for data product and service procurement according to actual needs. Various financial institutions are encouraged to innovate products and services, increase financing support for data element-type enterprises and data infrastructure enterprises. Social capital is guided to participate in public data resource development and utilization activities in an orderly manner.

[Market Outlook]

US Stock Market Sees Gains, Nasdaq Golden Dragon China Index Falls by 1.29%

In the overnight US stock market closing, the Dow rose by 431.63 points, or 1.03%, to 42,512.00 points; the Nasdaq rose by 108.70 points, or 0.60%, to 18,291.62 points; the S&P 500 rose by 40.91 points, or 0.71%, to 5,792.04 points. NVIDIA (NVDA.US) saw a slight decline, while Apple (AAPL.US) and Amazon (AMZN.US) both rose by over 1%. The Nasdaq Golden Dragon China Index fell by 1.29%, with Alibaba (BABA.US) dropping by over 1% and XPeng (XPEV.US) rising by over 3%. The Hang Seng Index ADR rose and closed at 20,965.51 points, up by 328.27 points or 1.59% compared to the Hong Kong market close.

Hong Kong Financial Secretary Paul Chan stated that since the central government announced multiple economic stimulus measures at the end of last month, the Hong Kong stock market has recorded significant gains. However, as with past bull markets, there may be some fluctuations during the upward trend. He believes that the stock market will continue to move forward after a correction, but attention should still be paid to economic conditions and fund flows.

[Hot Topics Preview]

Tensions Remain High in the Red Sea, Maersk and Hapag-Lloyd Confirm Continued Circumnavigation of the Cape of Good Hope in 2025

According to the Intelligence Finance app, global container shipping giants Maersk (AMKBY.US) and Hapag-Lloyd have confirmed a plan to circumnavigate South Africa's Cape of Good Hope as part of the "Gemini Cooperation Agreement" reached between the two companies. This indicates that these two shipping giants expect the Red Sea region to remain unsafe in 2025.

Silicon Industry Branch: New Round of Contracts Set to Begin, Silicon Material Supply Shows Turning Point Silicon Industry Association: Polysilicon Weekly Review

According to the Zhitong Finance APP, the recent stability in polysilicon prices is mainly due to a turning point in monthly supply, a slight increase in silicon material production, and intensified downstream procurement wait-and-see attitude. Whether specific silicon prices will experience a new round of increases still depends on the next centralized signing situation. As of now, the number of companies under maintenance or load reduction has decreased to 13, with one company expected to resume production this month and one new production capacity ramping up. Statistics show that in September 2024, polysilicon production reached 138,000 tons, a 6.36% increase compared to the previous month. In October, there has been no significant increase in electricity prices in the southwest region, with companies focusing on maintaining stability in production. It is estimated that polysilicon production in October will see a slight increase of around 5%.

CITIC Securities (02611): Major Asset Restructuring Plan Disclosed, Resumption of Trading Today

CITIC Securities announced that the company is planning a major asset restructuring with Haitong Securities through a stock-for-stock absorption merger, and raising supporting funds. This transaction includes issuing shares to all A-share and H-share shareholders of Haitong Securities. The company's A-shares have been suspended since September 6, 2024, and the relevant audit work is still ongoing, with no shareholders' meeting scheduled yet. The company's stock will resume trading on October 10, 2024. This transaction scheme still needs to obtain multiple approvals and confirmations, with existing uncertainties. Investors are reminded to pay attention to the risks involved.

Car Trade-ins Drive Sales Exceeding 160 Billion RMB

Currently, China is implementing large-scale equipment upgrades and consumer goods trade-ins, also known as "two news". In the automotive sector, as of 24:00 on October 7th, the Ministry of Commerce's car trade-in platform has received over 1.27 million subsidy applications, driving new car sales exceeding 160 billion RMB, with new energy vehicle subsidy applications accounting for over 60%.

Zijin Mining Group (03939) Completes Acquisition of 20.22% Equity of Xiangfu Jinling

According to the Zhitong Finance APP, Zijin Mining Group (03939) announced that the acquisition and all prerequisites for issuing consideration shares under specific authorization have been met and completed on October 9, 2024. According to the terms and conditions of the sale and purchase agreement, 72.15 million consideration shares and 18.0722 million consideration shares (accounting for approximately 7.86% and 1.97% of the enlarged issued share capital of the company) have been issued and distributed to Golden Crane and Prominence Investment at a price of HKD 8.12 per consideration share under specific authorization.

Haier Smart Home Receives Approximately HKD 248 Million H-share Increase from JP Morgan

According to data disclosed by the Hong Kong Stock Exchange, Haier Smart Home received an increase of approximately 7.27 million shares at an average price of HKD 34.0781 per share from JP Morgan on October 4, involving about HKD 248 million. After the increase, JP Morgan holds approximately 256 million shares, increasing its shareholding from 8.95% to 9.21%.

Stock Highlights

China National Heavy Duty Truck (03808): New Energy Heavy Trucks Still in Rapid Growth Stage

China National Heavy Duty Truck stated that the sales volume of natural gas heavy trucks in the first 8 months increased by 68% year-on-year. From the perspective of the development of the natural gas heavy truck market, they believe that the sales trend of natural gas heavy trucks is somewhat related to the price difference between oil and gas. After entering the third quarter, with the continuous rise in gas prices, the penetration rate of natural gas heavy trucks has decreased month-on-month, but natural gas heavy trucks still have certain economic viability Caitong Securities released a research report stating that from January to September 2024, the sales of various types of heavy trucks in China were approximately 683,000 units, with a cumulative growth rate turning negative, decreasing by 3%. In a market environment characterized by low freight rates, low profitability, and low demand, the prosperity of the freight market is relatively low, with overall terminal demand remaining weak. However, new energy heavy trucks and exports remain strong, with new energy heavy trucks in September continuing the strong momentum that has been soaring since the beginning of the year. In addition, the policy of replacing old trucks with new ones is expected to have a positive effect in the fourth quarter, and it is anticipated that terminal demand and orders will gradually increase in the fourth quarter, supporting the market in October and November-December, showing a month-on-month growth.

From January to August this year, the market share of new energy heavy trucks in the terminal sales of the heavy truck market was 10.48%, with its penetration rate increasing rapidly. The new energy heavy truck market has been maintaining a high level and is currently still in a phase of rapid growth. With continuous technological advancements and sustained market demand, new energy heavy trucks will replace traditional ones in more areas, driving the entire heavy truck industry towards a greener, more efficient, and sustainable direction.

[Disclaimer] This VIP information product is for communication and discussion purposes only, does not constitute any investment advice, and is strictly prohibited from being reprinted without authorization. For more high-quality information and data products, please log in to the Zhitong Finance app for inquiries