DZ20220323

 

*Key points

Industrial Economy

*China medium-long term development plan of hydrogen energy industry to be issued in coming terms, according to someone familiar with this matter after a batch of cities issued related policies. The production value of China hydrogen industry to reach cny 1tn during 2020-2025 and to reach cny 5tn after, as predicted by local gas union. China Securities Journal reported.

*NDRC to hold press conference on March 23rd at 10AM in introduction of medium-long term development plan of hydrogen energy industry 2021-2035.

*NDRC issued modern energy system plan during the 14th FY which said to realize domestic production of standard coal over 4.6bn ton, crude oil capacity stabilized around 200mio ton and installed capacity of nuclear power around 70mio kWh by 2025. High quality development of wind and solar power in massive scale will be promoted along with costal nuclear projects under premise of safety. A new round of medium-long term development plan of pumped storage will be implemented to have related installed capacity over 62mio kWh by 2025.

 

Property

*Couple of banks in Suzhou have cut mortgage loan rate for first-time home buyers to 4.6%, inline with 5-year LPR rate and it is close to the lowest mortgage loan rate in recent years, according to someone from the state-owned bank, Cailian Express reported.

*Banks in Nanjing city have lowered mortgage loan rate for first time home buyers to 5.4%-5.6% with down payment of an unchanged ratio of 30%, while down payment for second time home buyers are reduced to 50% from previous 80%, Cailian Express reported.

 

Co Focus

*China Evergrande Group assured investors it was on track to provide creditors with a preliminary restructuring proposal by the end of July and urged patience. The company has $22.7 billion in offshore debt including $3.3 billion in the form of project financing and private debt, the official said on the call, according to the people.

*China Evergrande Group plans to introduce Guangzhou City Construction Investment Group to participate in its debt restructuring involving an over 3b yuan trust product, Reuters reports, citing unidentified people.

*Hui Ka Yan, chairman of China Evergrande Group said it must reach the target of mass producing “Hengchi 5” electric car on June 22nd.

*Moutai has “secretly” launched development plan of new e-commerce business with initial preparation been completed and its official new e-commerce platform to go online “at any time”, according to someone familiar with this matter, Shanghai Securities Journal reported.

*Xiaomi reported a revenue of 85.58b yuan in 4Q2021, up 21% y/y and a net profit of 4.47bn yuan, both beating market’s expectation; 2021 smartphone revenue of 208.9bn yuan, up 37.2% y/y, and a full year smartphone shipment of 190mio units, up 30% y/y; it has over 1,000 crews in R&D of vehicle business; it also plans to repurchase up to HK$10bn yuan shares in the open market “from time to time”.

 

Mar 22nd Block Trade

*Block Trade Info

*Discount

- Sinomine Resource（002738 CH）saw 17 block trades worth 230mn at 88.32yuan per share, 10.14pct discount from last closing.

- Chongqing Dept Store (600729 CH) saw 2 block trade worth 15mn at 24yuan per share, 7.3pct discount from last closing.

- China Gold (600916 CH) saw 1 block trades worth 84mn at 10.22yuan per share, 9.4pct discount from last closing.

- Asia—Potash (000893 CH) saw 1 block trade worth 60mn at 30.18yuan per share, 2.01pct discount from last closing.

- Sokon Industry (601127 CH) saw 1 block trades worth 81mn at 40.54yuan per share, 9.57 discount from last closing.

- Vantone Development (600246 CH) saw 4 block trades worth 41mn at 9.36yuan per share, 11.07pct discount from last closing.

- Meijin Energy (000723 CH) saw 1 block trade worth 149mn at 12.66yuan per share, 6.98pct discount from last closing.

*Flat

- Tunnel Engineering (600820 CH) saw 1 block trade worth 202mn at 5.21yuan per share, 0.00pct discount from last closing.

 

*Margin Trade

*Connection Trade

*Index Futures

*Index Options

*Treasury Futures

 

 

*Night Session Commodities Market (As of 02:30 am)

* Global oil prices mostly closed down as May contract of WTI eased back by 1.11%, quoted at $108.75/barrel, declined for the first time over the past 4 days. Likewise, June contract of Brent shifted down by 0.96%, closed at $110.84/barrel. For the week ending on March 18, the API crude oil stock decreased by 4.28 million barrels, which was expected to increase by 25,000 barrels.

* COMEX gold futures closed lower to $1,921.5 per ounce with 0.41% decline, while COMEX silver futures settle at $24.9 per ounce with 1.63% decrease. The drop in gold prices mainly came as a result of the rising yield of US treasuries after Powell’s speech on interest rate hikes.

* For the night session of March 23, commodities market mostly closed down with chemical and energy sector kept sluggish performance with low surfur fuel oil suffered the most, dropped over 2% and closed down. EG shifted approximately 2% lower as well. Black series mostly closed down as coking coal slipped 2.04% lower, iron ore and coke fell by 1.95% and 1.19% respectively. While thermal coal inched up over 2%. In terms of agricultural products, rapeseed oil fell over 1%, No.1 soybean and soybean oil both settled with approximately 1% decline.

* LME metals mainly closed down with LME copper fell by 0.15% to $102,80/ton, LME zinc down by 0.77% to $3,909.5/ton, LME nickel slumped by 9.23% to $28,485/ton, LME aluminum down by 0.44% to $3,505.5/ton, LME tin shifted 0.49% lower to $41,550/ ton, while LME lead closed up with 0.84% increase to $2,277/ton.

 

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