DZ20231222

 

Industrial Economy

*MIIT: In 2024, a future industrial development action plan will be introduced to target industries such as humanoid robots and quantum information. To boost bulk consumption such as NEV and electronic products. To support the development of NEV battery swapping mode and focus on pilot projects for comprehensive electrification of vehicles in public areas.

*Ministry of Agriculture and Rural Affairs held director meeting, which pointed out to continuously promote the production of soybean oil and optimize the control mechanism for pig production capacity, strive to promote continuous progress and improvement in agriculture and rural areas.

*Zhejiang Province issued “Several Policies on Further Promoting High-Quality Economic Development”, which mentioned implementing policies such as exemption of purchase tax for NEV. Implement electricity price policies such as optimizing peak and valley periods for charging infrastructure, and add more than 20k public charging piles throughout the year. Promote the orderly cancellation of policies such as restrictions on small passenger cars and license plates in Hangzhou.

*Ministry of Natural Resources held a party group meeting, which emphasized to further deepen the reform of the rural land system, add vitality and increase momentum to rural revitalization.

 

Financial

*A new round of deposit interest rate cuts is about to be implemented. State-owned banks will lower the deposit interest rate on December 22nd, compared with the previous round of interest rate cuts, this round of interest rate cuts is close, and it is also the longer the deposit period, the greater the downward adjustment.

*State Council Tax Commission: Starting from January 1,2024, China will adjust the import and export tariffs on some commodities

 

Data

*CPCAAUTO: The narrow passenger car retail market in December was about 2.27mio units, decreased by 9.3% m/m, and increased by 4.8% y/y, with NEV retail sales of 940k units, increased by 11.8% m/m, and increased by 46.6% y/y, and the penetration rate is about 41.4%.

 

Dec 21 Block Trade Info

*Discount

- Montage Tech (688008 CH) saw 10 block trades worth 64.57mn at 56.64yuan per share, 5.77pct discount from last closing.

- Dawning Info (603019 CH) saw 1 block trades worth 179.40mn at 39.00yuan per share, 1.14pct discount from last closing.

- Tunnel Engineering (600820 CH) saw 1 block trades worth 320.34mn at 5.74yuan per share, 2.55pct discount from last closing.

 

*Flat

- JCHX Mining Managment (603979 CH) saw 1 block trades worth 167.40mn at 37.20yuan per share, flat from last closing.

- Moutai (600519 CH) saw 2 block trades worth 1.5bn at 1670.00yuan per share, flat from last closing.

- Luzhou Laojiao (000568 CH) saw 6 block trades worth 115.62mn at 170.76yuan per share, flat from last closing.

- Midea (000333 CH) saw 3 block trades worth 108.05mn at 52.02yuan per share, flat 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 slightly. February NYMEX crude oil contract down 0.39% to closed at $73.93/b, March Brent contract down 0.59% to closed at $79.19/b. INE crude oil active contract down 1.60% to 558.0 yuan/b.

* Precious metals closed up collectively, COMEX gold active contract up 0.49% and closed at $2057.8/oz. SHFE gold active contract up 0.31% and closed at 477.94 yuan/gram.

* Metals closed mixed, LME lead down 0.94%, LME zinc down 0.78%, LME aluminum up 0.31%. SHFE lead down 0.26%, SHFE nickel up 0.35%, SHFE aluminum up 0.29%.

* Commodity futures closed up mostly, chemistry and energy products closed up collectively, soda ash up 2.09%, glass up 1.8%, methanol up 1.24%. Black series closed up collectively, iron ore up 2.11%, hot-rolled coil up nearly 1%. Agricultural products closed down mostly, RBD palm olein down 1.81%, soybean oil down 1.26%, No.2 soybeans down 1.05%.

 

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.