DZ20230327

 

State Council general meeting

*Premier Li Qiang held State Council general meeting on March 24 and decided 103 key tasks from 10 aspects. Preferential tax policies were under research for further optimizations with due day of some extend to 2027 and estimated tax saving to reach cny 480bn per year.

*Key work plan in well implementation of spirit of central rural work meeting and the No. 1 Central Document was approved which emphasized supports on food production to ensure whole year grain output over 1.3tn jin. Rural revitalization to be promoted with featured industries to be developed.

 

Industrial Economy

*The State Council tariff committee decided to extend zero tax on coal imports from 2023 April 1 to Dec 31.

*CSRC issued notice in promoting normalized issuance of REITs in infrastructure field with 12 measures raised from 4 aspects and consumption infrastructure added in range in trial.

*Former head of MoF published article in prospect of China fiscal system reform in the new era which suggested carrying forward real estate tax in trial after growth of economy back to normal track.

*MIIT and Ministry of Natural Resource issued the first batch of total quantity control indexes in 2023 for rare earth exploration as well as smelting and extraction by 120k and 115k ton respectively, up 19% and 18.3% y/y.

*Domestic tourism bookings during the Labor Day holiday up 150% y/y and cross-border bookings up by 17X y/y, according to data disclosed by Ctrip.

 

Co Focus

*CATL will continue working on business pattern innovation in battery service fields with cell-to-chassis promoted and fundamental work prepared for auto-making firms.

 

*Mar 27th Block Trade

*Block Trade Info

*Discount

- Seres Group Co.(601127 CH) saw 1 block trade worth 83mn at 38.23yuan per share, 5.00 discount from last closing.

- Zhongji Innolight Co. (300308 CH）saw 7 block trades worth 95mn at 46.75 yuan per share, 10.49 discount from last closing.

- Kinglai Hygienic Materials Co. (300260 CH) saw 2 block trades worth 35mn at 64.43 yuan per share, 2.2 discount from last closing.

- Montage Tech (688008 CH) saw 18 block trades worth 165mn at 65.8 yuan per share, 4.64 discount from last closing.

 

*Flat

- Zhuhai Zhongfu (000659 CH) saw 4 block trades worth 91mn at 3.53 yuan per share, 0.00 discount from last closing.

- China Catalyst Holding Co. (688267 CH) saw 1 block trade worth 42mn at 33.68yuan per share, 0.00 discount from last closing.

- Sunwoda Electronic Co. (300207 CH) saw 5 block trades worth 23mn at 20.21yuan per share, 0.00 discount from last closing.

- Runjian Co. (002929 CH) saw 2 block trades worth 41mn at 48.42 yuan per share, 0.00 discount 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 down collectively. May NYMEX crude oil contract down 1.09% to closed at $69.20/b, June Brent contract down 1.21% to closed at $74.59/b. INE crude oil active contract down 1.49% to 502.1 yuan/b.

* Precious metals closed down collectively. COMEX gold contract down 0.75% to closed at $1981/oz. SHFE gold active contract down 0.01% to closed at 439.80 yuan/gram.

* Metals closed up mostly, LME nickel up 5.16%, LME tin up 2.21%, LME aluminum up 0.77%. LME copper down 0.95%. SHFE nickel up 3.26%, SHFE tin up 3.01%.

* Commodity futures closed up mostly, energy & chemistry futures saw strong performance, PTA up 2.7%, bleached softwood kraft pulp up 2.2%, polyester stable fiber up 1.47%, glass and soda ash up 1.18%, PVC up 1.15%. Black series closed up mostly. Agricultural products performed strong, rapeseed oil up 1.73%, RBD palm olein up 1.5%, soybean oil up 1.24%, No.2 soybeans up nearly 1%.

 

 

Download PDF
 

 

 

DISCLAIMER

The report is issued by Orient Securities Co. LTD (Orient Securities) and Shanghai Orient Futures Co. LTD (Orient Futures) to institutional investors. Opinions expressed may differ from those of other divisions of Orient Securities, including Orient Securities Research Institute. Orient Securities may trade as principal in instruments identified herein and may accumulate/have accumulated a long or short position in instruments or derivatives thereof. Orient Securities has policies designed to negate conflicts of interest. This e-mail is not an official confirmation of terms and unless stated, is not a recommendation, offer or solicitation to buy or sell. Any prices or quotations contained herein are indicative only. Communications may be monitored.