Morning Brief 2022-08-25

DZ20220825

 

Macro

*Premier Li Keqiang held State Council general meeting and deploy a batch of policies to stabilize economy including 1) add cny 300bn more quota for policy development financial tools and to well use cny 500bn balance quota of special bonds; 2) approve construction of a batch of infrastructure projects with quality ensured, development of private firms and platform economy to be supported as well as rigid and improving housing demand with credit policy allowed to be used by local cities; 3) collection of some administrative fees will be delayed for one quarter; 4) central power firms are supported to issue bonds of cny 200bn with cny 10bn more agricultural subsidy; 5) smooth logistics to be ensured; 6) all depts shall issued supporting measures in prompt manner.

 

Co Focus

*GCL group and CATL upgraded to strategic partnership with cooperation to be carried forward in tech innovation, product R&D, battery change for heavy trucks and battery collections with implementation of new energy projects promoted.

*Tongwei (600438 CH) held semi-annual result show and its president holds cautious views on route of HJT batteries and suggested it requires further technique breakthrough. Its N-type silicon materials already saw massive production and can fully satisfy demand of customers.

*Nio is under self-research of lithium ferric manganese phosphate and 4680 batteries with plan to launch massive production for supply of Nio and sub-brand, according to LatePost.

 

Aug 24th Block Trade

*Block Trade Info

*Discount

- Zhendong Pharmaceutical (300158 CH) saw 1 block trade worth 24mn at 5.44 yuan per share, 3.03 discount from last closing.

- Gensho Logistics Co. (603813 CH) saw 2 block trades worth 26mn at 90 yuan per share, 6.99 discount from last closing.

-Perfect World (002624 CH) saw 16 block trades worth 124mn at 13.62 yuan per share, 9.2 discount from last closing.

- Roborock Tech (688169 CH) saw 6 block trades worth 66mn at 300 yuan per share, 7.64 discount from last closing.

- Kelun Pharmaceutical (002422 CH) saw 3 block trades worth 119mn at 21.24 yuan per share, 0.49 premium from last closing.

 

*Flat

- Shennan Circuits Co. (002916 CH) saw 1 block trade worth 33mn at 88.25 yuan per share, 0.00 discount from last closing.

*Premium

- Kelun Pharmaceutical (002422 CH) saw 3 block trades worth 119mn at 21.24 yuan per share, 0.49 premium from last closing.

*Margin Trade

*Connection Trade

*Index Futures

*Index Options

*Treasury Futures

 

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

 

Commodities (night session):

* Global crude oil price closed up collectively. October NYMEX contract up 1.74% to closed at $95.37/b, November Brent contract up 1.59% to closed at $101.81/b. INE crude oil active contract up 3.02% to 740.5 yuan/b. OPEC+ crude oil production recorded 2.9 million b/d lower than the target output level.

* Precious metals closed up collectively. COMEX gold active contract up 0.17% to closed at $1764.2/oz, SHFE gold active contract up 0.48% to closed at 390.16 yuan/gram.

* Metals closed mixed, LME nickel down 1.22%, LME copper down 1.15%, LME zinc up 1.25%. SHFE zinc up 0.59%, SHFE leads up 0.53%, SHFE tin down 1.1%, SHFE nickel down 0.95%, SHFE copper down 0.65%.

* Commodity futures closed mixed. Energy & chemistry futures showed a strong performance, soda ash up 2.15%, LPG up 1.93%, bitumen up 1.61%, fuel oil up 1.5%, LLDPE up 1.17%, PP up 1.14%. Black series went up mostly, hot-rolled coil up 1.28%, iron ore up 0.99%, coking coal up 0.77%, thermal coal down 0.85%. Agricultural products closed mixed, cotton yarn up 0.66%, No.1 soybeans down 0.97%, soybean meal down 0.8%.

 

 

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