Zhitong Hong Kong Stock Early Knowledge | Technology innovation and technological transformation loans accelerate landing Huawei will hold Mate brand gala

【Today's Headlines】

The Central Bank and Nine Departments Jointly Hold a Meeting to Promote Loans for Technological Innovation and Technological Transformation

On November 21, the People's Bank of China, in conjunction with the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Agriculture and Rural Affairs, the Ministry of Transport, the State-owned Assets Supervision and Administration Commission of the State Council, and the Financial Regulatory Bureau, held a meeting to promote loans for technological innovation and technological transformation.

The meeting pointed out that since the introduction of relevant policies, local governments, various departments, and financial institutions have improved work mechanisms, strengthened coordination, refined work measures, and accelerated the realization of "full coverage" in financing for enterprises and projects on the list. The scale of loan signing and disbursement has continuously expanded, and the implementation of policies has achieved phased results. As of November 15, banks have signed loan contracts with 1,737 enterprises and projects totaling nearly 400 billion yuan, effectively supporting the first loans for technology-based enterprises in the startup and growth stages and large-scale equipment updates in key areas.

【Market Outlook】

COMEX Gold Futures Down 3.45%

Overnight, U.S. stocks closed with the Dow Jones Industrial Average up 440.06 points, an increase of 0.99%, closing at 44,736.57 points; the Nasdaq rose 51.18 points, an increase of 0.27%, closing at 19,054.84 points; the S&P 500 index rose 18.03 points, an increase of 0.30%, closing at 5,987.37 points. Tesla (TSLA.US) fell 3.9%, NVIDIA (NVDA.US) fell 4.1%, and MicroStrategy (MSTR.US) fell 4.3%. The Nasdaq China Golden Dragon Index closed up 0.4%, with mixed performance among popular Chinese concept stocks, iQIYI rising over 6%, and Alibaba, Baidu, Youdao, and New Oriental rising over 2%.

The price of light crude oil futures for January 2025 delivery on the New York Mercantile Exchange fell by $2.30, closing at $68.94 per barrel, a decrease of 3.23%; the price of London Brent crude oil futures for January 2025 delivery fell by $2.15, closing at $72.48 per barrel, a decrease of 2.88%.

International gold prices fell, with COMEX gold futures down $93.70 per ounce, a decrease of 3.45%, closing at $2,618.50 per ounce. Bitcoin briefly fell below $93,000 per coin, dropping over $5,000 during the day.

【Hot Topics Ahead】

Ministry of Commerce and Zhejiang Province: Allowing Foreign Operating Entities to Participate in Product Trading on Intra-Region Spot Trading Platforms and Related Fund Inflows and Outflows Under Legal Compliance and Risk Control

The Ministry of Commerce and the People's Government of Zhejiang Province issued the "Construction Plan for the Commodity Resource Allocation Hub of the China (Zhejiang) Pilot Free Trade Zone." The plan states the establishment of a high-level spot and futures trading model. It aims to accelerate the improvement of the bonded delivery system for bulk commodities and promote domestic futures exchanges to study and expand delivery warehouses. Under legal compliance and risk control, foreign operating entities are allowed to participate in product trading on intra-region spot trading platforms and related fund inflows and outflows.

Twelve Departments: Supporting Innovation and R&D of 5G Educational Terminal Equipment and Promoting 5G Campus Construction

The Ministry of Industry and Information Technology and twelve other departments issued the "5G Large-Scale Application 'Set Sail' Action Upgrade Plan," which mentions accelerating the coordinated deployment of 5G networks and campus networks, achieving cross-domain integration of internal and external network services, supporting innovation and R&D of 5G educational terminal equipment, and promoting 5G campus construction Two Major State-owned Enterprises Approved to Issue 500 Billion Yuan Special Bonds

With the approval of the State Council and the arrangement of the State-owned Assets Supervision and Administration Commission, China Reform Holdings Corporation Limited will issue 300 billion yuan in special bonds for stabilizing growth and expanding investment, while China Chengtong Holdings Group will issue 200 billion yuan in special bonds for the same purpose. These funds will be primarily used to support key investments in "two heavy" and "two new" projects, including major equipment upgrades and technological transformation investments, significant technological innovation projects, and major strategic emerging industry investments, promoting the high-quality development of state-owned enterprises and contributing to the sustained and healthy development of the national economy.

Shenzhen Eases Conditions for Electric Bicycle Trade-in Subsidies

On November 25, the Shenzhen Municipal Bureau of Commerce issued a notice on the "Implementation Guidelines for the 2024 Electric Bicycle Trade-in Subsidy in Shenzhen." To further expand the scope of the electric bicycle trade-in program and facilitate consumers in applying for subsidies, adjustments have been made to the requirements related to the trade-in of electric bicycles: from October 6, 2024, to December 31, 2024, individual consumers who sell scrapped old electric bicycles within Shenzhen and purchase new electric bicycles priced above 1,500 yuan will receive a one-time subsidy of 500 yuan. In addition, the subsidy scope has been relaxed, with the adjusted subsidy scope allowing for both registered and unregistered old bicycles; the new bicycle sales price will be based on the tax-inclusive price on the new bicycle invoice; each person can only apply for the subsidy once. The application process has been simplified, with the adjusted process requiring consumers to scrap their old bicycles and purchase new ones, then upload materials through the activity platform to apply for the subsidy.

Huawei to Hold Mate Brand Ceremony

On the afternoon of November 26, Huawei will hold a Mate brand ceremony, featuring new products including the Huawei Mate 70 series, the foldable smartphone Mate X6, the MatePad Pro 13.2-inch, Huawei FreeBuds Pro 4, the Zhijie New S7, and the Zunjie S800.

China's Heavy-duty Gas Turbine Achieves New Breakthrough in Miniaturization

China's independently developed F-class 15-megawatt heavy-duty gas turbine successfully ignited in one go in Deyang, Sichuan, marking a new breakthrough in the miniaturization of heavy-duty gas turbines in China. This involves Hong Kong-listed Dongfang Electric (01072).

Shandong Xinhua Pharmaceutical Co., Ltd. (00719): Carbonate Sevelamer Raw Material Drug Approved by FDA

Xinhua Pharmaceutical announced that it recently received the FDA registration approval letter for the raw material drug carbonate sevelamer issued by the U.S. Food and Drug Administration. Carbonate sevelamer is used to control hyperphosphatemia in adult patients undergoing dialysis treatment for chronic kidney disease. It is a non-absorbed phosphate-binding cross-linked polymer that does not contain calcium or other metals, adsorbing phosphates in the gastrointestinal tract through ion exchange, with its complexes excreted in feces, resulting in no systemic absorption and high safety.

Shanghai Pharmaceuticals (02607): I48 Clinical Trial Application Accepted

Shanghai Pharmaceuticals announced that the clinical trial application for I48 developed by the company has been accepted by the National Medical Products Administration. I48 is a small molecule new drug intended for the treatment of schizophrenia. As of the announcement date, there are no drugs on the market with the same target and indication globally. The project has accumulated research and development expenses of 22.2394 million yuan. The acceptance of the I48 clinical application will not have a significant impact on the company's recent operating performance ZhiXing Automotive Technology (01274): Plans to place up to 4.42 million shares at a 13.19% discount

ZhiXing Automotive Technology announced on the Hong Kong Stock Exchange that on November 25, 2024, the company entered into a placement agreement with the placement agent, which conditionally agreed to use its best efforts to procure no less than six subscribers to purchase up to a total of 4,427,000 placement shares at a placement price of HKD 17.58 per share. This represents a 13.19% discount to the latest closing price. ZhiXing Automotive intends to use the estimated net proceeds from the placement for the development of advanced intelligent driving, integrated cockpit solutions, and products.

【Stock Highlights】

QiuTai Technology (01478): May benefit from the hot sales of the Mate70 product

The Mate70 is set to be released soon, featuring "Maple Red Original Color Imaging."

QiuTai Microelectronics Technology Co., Ltd. (Kunshan QiuTai Microelectronics Technology Co., Ltd.) is a globally leading manufacturer focused on the design, research and development, manufacturing, and sales of camera modules and fingerprint recognition modules. QiuTai Technology's products cover ultra-thin camera modules ranging from 2 million pixels to 18 million pixels, dual/multi-camera modules, optical image stabilization (OIS) camera modules, 3D camera modules, automotive camera modules, smart home camera modules, capacitive fingerprint recognition modules, and optical under-display fingerprint recognition modules.

QiuTai Technology is one of the few companies in China that was among the first to adopt COB, COF, MOB, and MOC technologies in camera module manufacturing and is capable of mass-producing and selling high-pixel ultra-thin camera modules and fingerprint recognition modules with different processes.

The company is committed to becoming an advanced intelligent vision company with its capabilities in optics, computational imaging, and deep learning, serving the fields of mobile communication terminals, automotive, smart manufacturing, and robotics.

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