The General Office of the CPC Central Committee and the State Council Office: Increase support for data infrastructure and data security capacity building through increased investment in the central budget
The "Opinions on Accelerating the Development and Utilization of Public Data Resources," issued by the General Office of the CPC Central Committee and the General Office of the State Council, marks the first systematic deployment at the central level for the development and utilization of public data resources. The opinions propose that by 2025, the system of rules for the development and utilization of public data resources will be preliminarily established, with a significant increase in the scale and quality of resource supply, continuous enrichment of data products and services, and notable achievements in the development and utilization of public data resources in key industries and regions. A number of data element enterprises will be cultivated, and the role of public data resource elements will be preliminarily revealed.
Regarding the buying and selling of national bonds, the People's Bank of China and the Ministry of Finance convene the first formal meeting of the joint working group
The People's Bank of China and the Ministry of Finance have established a joint working group and recently held the first formal meeting of the group. The meeting fully affirmed the close cooperation between the two parties in the buying and selling of national bonds by the central bank in the early stage, established the operation mechanism of the working group, and exchanged views on the operation of the bond market and other issues.
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China and Europe will continue to consult on the anti-subsidy case of electric vehicles
According to informed sources, recently, China, the United States, and the European Union have had intensive communication on trade issues such as electric vehicles. After the representatives of EU member states voted to pass the final draft of the EU's anti-subsidy case against electric vehicles on October 4, the China-Europe working team will continue to consult.
The Ministry of Housing and Urban-Rural Development and the Financial Regulatory General Bureau: Expand the coverage of the "white list" to ensure that compliant real estate projects "should enter as much as possible"
The Ministry of Housing and Urban-Rural Development and the Financial Regulatory General Bureau jointly held a national video conference to promote the work of ensuring housing delivery. The meeting emphasized that it is currently at a critical stage in the battle to ensure housing delivery, and it is necessary to firmly grasp the people-oriented and political nature of real estate work and give full play to the important role of the coordination mechanism. Efforts should be increased to scrutinize, promote, repair problematic "white list" projects, and increase loan disbursement to meet the reasonable financing needs of real estate projects.
The Central Financial Office and the China Securities Regulatory Commission jointly issue the "Guiding Opinions on Promoting Medium and Long-term Capital into the Market"Recently, the Central Financial Office and the China Securities Regulatory Commission jointly issued the "Guiding Opinions on Promoting the Entry of Medium and Long-term Funds into the Market" to vigorously guide medium and long-term funds into the market, cultivate and strengthen patient capital such as insurance funds, and strive to boost the capital market. Major insurance companies have stated that as a long-term and stable source of funds, insurance funds are of great significance to the healthy development of the capital market and will further play the role of a "stabilizer" and "booster" in the capital market.
Hangzhou: No distinction between first and second homes, the minimum down payment is unified to 15%
Hangzhou Housing Security and Housing Management Bureau: Issued a notice on further optimizing and adjusting the city's real estate-related policies. It proposes to guide commercial banks to reduce the interest rates of existing housing loans in a stable and orderly manner. For residents and families purchasing homes with loans, commercial individual housing loans will no longer distinguish between first and second homes, and the minimum down payment ratio is unified to 15%.
Chengdu plans new regulations: Buying a house can settle the household registration, and second-hand houses are also acceptable
Chengdu issued the "Notice on Implementing Household Registration for People with Legal Property Housing (Draft for Comments)" to collect opinions and suggestions. The opinion mentions that people who purchase commercial housing (already delivered for use) or second-hand housing within the administrative region of the city can apply for their own household registration at the location of the housing. Spouses, minor children, and elderly parents who meet the conditions for dependency can apply for household registration to follow. This means that after the implementation of this notice, buying a house can settle the household registration in Chengdu. The specific implementation date of the notice has not been announced.
Banks respond to bank-securities transfers: some branches lose 4 billion in deposits in a single day
In response to the recent sharp increase in stock market trading volume, some banks have held internal meetings to uniformly deploy measures to deal with bank-securities transfers, fund redemptions, etc. Some branch insiders revealed that on the last trading day before the holiday, the bank's retail line lost about 4 billion yuan in deposits; at the same time, during the National Day holiday, the loan amount of consumer loans in this branch has surpassed this year's "opening red".
Market shock, ETF heat remains! Single-day net subscription amount exceeds 100 billion yuan!
In the recent strong rebound of the market, ETFs have been favored by many investors. From the transaction volume, after the two trading days of the National Day holiday, the transactions of many broad-based ETFs have significantly increased. On October 8, the net subscription amount of stock ETFs reached 106.126 billion yuan, which is also the first time that the single-day net subscription amount of ETFs has exceeded 100 billion yuan. At the same time, the net value of the first batch of China Securities A500 ETFs fluctuated violently, indicating that these products have been quickly established.
Three scientists share the 2024 Nobel Prize in Chemistry for "cracking the protein structure code"The Royal Swedish Academy of Sciences announced that the 2024 Nobel Prize in Chemistry is about proteins. The award will be given to David Baker from the University of Washington in Seattle, USA, for "computational protein design," and the other half will be jointly awarded to Demis Hassabis and John Jumper from Google DeepMind in London, UK, for "protein structure prediction."
The first batch of 10 CSI A500 ETFs released their listing announcements, with securities firms, private equity, trusts, and insurance funds appearing among the top ten holders.
On the evening of the 9th, the first batch of 10 CSI A500 ETFs released their listing trading announcements and plan to be listed collectively on October 15th (next Tuesday). With the disclosure of the listing announcements, the top ten holders and the construction steps of the 10 CSI A500 ETFs have been revealed. Looking at the types of holders, securities firms, private equity, trusts, and insurance funds frequently appear, with institutional investors becoming the main force in the new issuance of ETFs. In addition, Harvest and Invesco respectively purchased 200 million yuan and 16.38 million yuan, becoming the largest and fifth-largest holders of their respective products. In terms of construction pace, all 10 products have been constructed, with positions ranging from 40% to 90%.
Beijing's low-altitude economy industry aims to reach a scale of 100 billion yuan in three years.
The "Beijing Action Plan for Promoting the High-Quality Development of the Low-Altitude Economy Industry (2024-2027)" (hereinafter referred to as the Action Plan) recently released by the Beijing Municipal Economic and Information Bureau, the Beijing Municipal Development and Reform Commission, and other departments, clearly states that Beijing aims to double the number of low-altitude economy-related enterprises to over 5,000 within three years, with low-altitude technical services covering the Beijing-Tianjin-Hebei region and radiating nationwide, reaching an industrial scale of 100 billion yuan.
The Beijing Stock Exchange (BSE) is booming, and many BSE 50 index funds have implemented purchase restrictions.
Due to the booming BSE market, many companies under the BSE 50 index funds have started to restrict large purchases, while some have simply "closed their doors to customers" due to reaching the upper limit of their scale.
In 10 days, the stock price has quadrupled. Who is buying and who is selling? The latest regulatory disclosure!
On October 9th, information on the Shenzhen Stock Exchange website showed that from September 26th to October 9th, Yin Zhijie touched the serious abnormal fluctuation standard. During this period, "institutions" net sold about 285 million yuan, and "Shenzhen Stock Connect" net sold about 29.8964 million yuan; small and medium investors continued to buy, with a cumulative net purchase of about 780 million yuan.WeChat HarmonyOS Native Version Begins Internal Testing Invitation, Alipay HarmonyOS Version Arrives
On October 8th, the WeChat HarmonyOS native version has made the latest progress. According to Tencent, the WeChat HarmonyOS native version started inviting internal testing today, and users who have upgraded to HarmonyOSNEXT can get ahead of the experience after receiving the invitation. In addition to this, the Alipay HarmonyOS version has been newly launched, which, in addition to payment functions, can also use mini-programs, order takeout, watch movies, hang medical insurance, and so on. Users who have upgraded to the native HarmonyOS operating system HarmonyOSNEXT can download and install it from the Huawei App Market to experience the latest Alipay HarmonyOS version.
Shanghai Securities Wu Tingting believes that with the completion of more HarmonyOS native application Beta versions, the progress of the HarmonyOS ecosystem is expected to continue to exceed expectations. The official launch of the HarmonyOS Star River version in the fourth quarter is an important turning point for the HarmonyOS ecosystem, and HarmonyOS is expected to become the terminal base of digital China; it is recommended to pay attention to Huawei's line investment opportunities.
Among listed companies, Tuowei Information (002261) has always maintained in-depth cooperation with HUAWEI and is a comprehensive partner of HUAWEI's "Kunpeng/Ascend + industry large model/cloud + open source HarmonyOS".
Sitech (300608) highly values the promotion and localization of Huawei's HarmonyOS system and has the ability to develop products and solutions adapted to Huawei's HarmonyOS system.
The 2024 Nobel Prize in Physics is announced, and artificial neural network machine learning is attracting attention
According to media reports, the Royal Swedish Academy of Sciences announced that the 2024 Nobel Prize in Physics was awarded to John J. Hopfield and Geoffrey E. Hinton for their pioneering discoveries and inventions in using artificial neural networks to achieve machine learning.
There are already many researchers developing and applying machine learning, such as the globally popular artificial intelligence chatbot ChatGPT. Guosheng Securities stated that on September 12, 2024, OpenAI released the o1 series of models, which can solve more difficult problems than previous scientific, coding, and mathematical models, making significant progress in complex reasoning tasks. This means that OpenAI has initially reached the second stage of its path towards the AGI goal, and o1 has explored a solution that can optimize the accuracy of some tasks in the post-training and reasoning stages. If the accuracy of future GPT significantly increases, it can be optimistically expected that the innovation of AI applications will usher in a comprehensive outbreak. It is recommended to pay attention to the related industry chain.
On the company side, Ankai Micro (688620) has started to layout deep learning technology many years ago, such as the development of neural network processor NPU IP. At present, this IP has been applied in the company's chip products, such as IoT camera chip products, and has generated a positive response.
Beijing Junzheng (300223) has been continuously investing in the research of neural network processors over the past few years, combining the company's self-developed advantages in CPU technology, organically combining CPU technology with neural network processor technology, and forming the company's unique AI computing power engine.Global wafer fab capacity expands significantly, with continued growth in wafer fab equipment spending
Reports indicate a substantial expansion in global wafer fab capacity, accompanied by a sustained increase in wafer fab equipment expenditures. According to projections from the Semiconductor Equipment and Materials International (SEMI), global 300mm wafer fab equipment spending is expected to surpass $400 billion for the first time between 2025 and 2027, with China maintaining its leading position, investing over $100 billion. Semiconductor equipment companies are poised to reap the benefits of this growth.
SEMI's Global Vice President and China President, Ju Long, stated that based on the analysis of semiconductor equipment investments, the semiconductor equipment delivery value in Mainland China is projected to grow from last year's figure, reaching over $40 billion in 2024, continuing to be the world's largest semiconductor equipment market. It is predicted that more than 100 new semiconductor manufacturing facilities will become operational between 2022 and 2026, indicating that there is still significant room for growth in semiconductor equipment investments over the next two years. Geng Zheng, Chief Analyst of the Electronics Industry at GF Securities, stated that the domestic semiconductor equipment market has vast potential. Domestic equipment is increasingly covering mature process technologies and actively pushing for breakthroughs in advanced process technologies. In the future, domestic semiconductor equipment is expected to continue benefiting from the expansion of the equipment market size.
Among listed companies, Changchuan Technology (300604) has mastered the core technologies related to integrated circuit testing equipment, becoming one of the few enterprises in China capable of independently researching and producing integrated circuit testing equipment.
Fuchang Precision (688409) is a leading enterprise in the domestic semiconductor equipment precision components sector, with main products including process components, structural components, module products, and gas pipelines, covering core equipment in the integrated circuit manufacturing process such as etching, thin film deposition, photolithography and coating development, chemical mechanical polishing, and ion implantation. Some of their products have been applied in front-end equipment for 7-nanometer processes.
Xinyuan Micro (688037) has formed four major business segments: front-end coating and development equipment, front-end cleaning equipment, back-end advanced packaging equipment, and compound small-size equipment, with products that have fully covered fields such as front-end wafer processing, back-end advanced packaging, and compound semiconductors.
ByteDance may release a new smart hardware, and agencies say smart hardware is an important entry point for AIGC
Recently, ByteDance's official DouBao XiaoHongShu account released a preheating poster with the caption "ByteDance DouBao's smart hardware?", with more information to be announced at 11 AM on October 10th. Ola Friend's official Weibo account has also gone live, posting the same content as DouBao XiaoHongShu's official account, claiming to "explore new ways of using AI". Some media have suggested that, judging from the preheating copy, Ola Friend may be a hardware product equipped with an AI system, possibly smart earphones or glasses, but the specific product is still uncertain at this time.
Song Jiaqi from Guosheng Securities stated that since entering the IOT era, with the accelerated popularization and penetration of low-power IoT chips, smart hardware has become an important part of people's daily lives. Before the advent of ChatGPT, intelligent assistants such as "ALEX" overseas and "Xiao Ai Tongxue" domestically have become important entry points for consumers to access AI assistants. Currently, with the opening of the ChatGPT API interface function, ChatGPT can access external real-time databases and provide answers based on this. Large models will greatly enhance the user experience of smart hardware, and smart hardware itself will also become an increasingly important AI entry point.
Among listed companies, Tianjian Shares (301383) has established a cooperative relationship with ByteDance. The company is actively laying out smart glasses products, and in addition to the AR glasses products that have already been mass-produced, the company is also paying attention to, planning, and researching new technologies for AR glasses, as well as new products such as smart audio glasses and AI glasses.BES Technology (688608) focuses on the research and development of audio and video SoC main control chips in the fields of smart wearables and smart home, with chip products widely used in terminal products such as Bluetooth earphones, smartwatches, and smart speakers, and its products and technological capabilities are widely recognized by brand customers.
Amlogic (688099) is mainly engaged in the research and development, design, and sales of SoC chips for multimedia intelligent terminals, with chip products currently mainly applied in cutting-edge technological fields such as smart set-top boxes, smart TVs, AI audio and video system terminals, wireless connections, and in-vehicle infotainment systems.
Intelligent manufacturing has become the commanding height of the new round of competition, and smart factories are an important application scenario.
Recently, the World Economic Forum announced that 22 innovative manufacturing companies have joined the Global Lighthouse Network, bringing the total number of members in this network to 172. It is worth noting that 13 of the 22 new Lighthouse factories are from China. It is reported that the new Lighthouse factories have increased labor productivity by an average of 50%, thanks to the implementation of various digital solutions, such as interactive training programs, intelligent devices and wearable devices, and automated systems that integrate robotics, artificial intelligence, and machine vision technologies.
Intelligent manufacturing, as a product of the deep integration of new-generation information technology and manufacturing industry, is not only a technological innovation but also a profound reshaping of traditional production models, industrial structures, and value chains. It has become the commanding height of the new round of global manufacturing competition. Smart factories are an important application scenario for intelligent manufacturing. According to the "China Intelligent Manufacturing Industry Development Report (2022 Edition)", the scale of China's smart factories was 856 billion yuan in 2020, and it is expected to exceed 1.4 trillion yuan by 2025, with a compound growth rate of 10%.
Among listed companies, Rison Technology (688090) has accumulated multiple core technologies in various aspects such as robot control and simulation, automation system technology, advanced welding technology, intelligent assembly and positioning, and industrial internet applications. The company provides intelligent manufacturing solutions and production lines for customers' Lighthouse factories.
Yitong Century (300310) can provide a series of services for industrial internet applications, including solution design, product supply, solution integration, project implementation, and maintenance support.
Eastcom (300379) mainly focuses on digital transformation business in the fields of energy and electricity, public safety, smart emergency response, and national defense and military industry, assisting government and enterprise customers in providing a series of products and solutions in asset digitization, operation digitization, decision-making digitization, and business digitization. It has accumulated many successful cases in various industry fields such as State Grid, public security, industry and information, and emergency response.
The first top-level design of "public data resource development and utilization" has been implemented, and these two sub-industries benefit the most.
On October 9, the General Office of the CPC Central Committee and the General Office of the State Council officially announced the "Opinions on Accelerating the Development and Utilization of Public Data Resources". The opinions mention that by 2025, the system and rules for the development and utilization of public data resources will be preliminarily established, data products and services will continue to enrich, and significant results will be achieved in the development and utilization of public data resources in key industries and regions; by 2030, the resource development and utilization system will be fully established. In addition, the opinions clearly state for the first time that public data can be authorized to operate. Guide and promote the conditional free use of public data products and services for public governance and public welfare. For public data commercial products and services used for industrial development and industry development, if it is necessary to charge fees, implement government-guided pricing management.The "Opinions" are the first top-level design document at the central level to set rules and direction for the development and utilization of public data. Industry insiders have stated that the "Opinions" provide guidelines for promoting the compliant and efficient circulation and use of public data by stimulating the motivation of the supply side and the vitality of the demand market. In particular, the explicit and standardized authorization operation of public data as an important way to develop and utilize public data resources is significant for mobilizing the participation of multiple parties, fully exploring the value of data, and promoting high-quality economic and social development. Institutions believe that this top-level design has opened the curtain for a dense release of policies in the fourth quarter, and it is expected that subsequent policies are on the way. It is recommended to pay attention to companies in the fields of public data authorization operations and data elements X.
Shenzhen Sangda A (000032), with its China Electronics Cloud, aims to build a full-stack business chain of data elements, including public data governance and supply at the provincial and municipal levels, data operation services, data registration, and data circulation transactions. Based on data operation projects, the company incubates multiple data products with ecological partners and strives to connect with data exchanges to accelerate the process of scenario-driven supply and demand matching.
Huibo Yuntong (301316) values the important role of data elements in the transformation and development of the financial industry, assisting financial industry clients it serves to effectively enhance scenario-based financial service capabilities through the efficient use of compliant data, truly achieving more efficient and differentiated digital service capabilities.
The General Office of the CPC Central Committee and the State Council issue documents to accelerate the development and utilization of public data resources.
On October 9, the General Office of the CPC Central Committee and the State Council issued the "Opinions on Accelerating the Development and Utilization of Public Data Resources." This is the first time at the central level that a systematic deployment has been made for the development and utilization of public data resources. The opinions propose to prosper the data industry ecosystem. By 2025, the system of rules for the development and utilization of public data resources will be preliminarily established, the scale and quality of resource supply will be significantly improved, data products and services will continue to enrich, significant achievements will be made in the development and utilization of public data resources in key industries and regions, a batch of data element enterprises will be cultivated, and the role of public data resource elements will be preliminarily revealed.
At present, data, as a new type of production factor, has been deeply integrated into all fields of the economy and society. Accelerating the construction of a digital economy with data as a key element cannot be separated from the strong support of the data industry. This year's "Government Work Report" proposed to "deepen the innovative development of the digital economy," among which the data industry is an important part. Cultivating the data industry is an important content of the market-oriented allocation reform of data elements and an important link in cultivating the digital economy and developing new quality productive forces. China's data industry is growing rapidly. Preliminary calculations show that it is expected to maintain an average annual growth rate of over 20% in the next few years, and the market size is expected to reach 100 billion yuan by 2028.
The main related concept stocks in the A-share market include Tianyuan Dico (300047) and Taiji Shares (002368), etc.
SpaceX will conduct the fifth Starship flight test, and the development of satellite internet is accelerating.
According to official SpaceX news, the company plans to conduct the fifth flight test of the Starship on October 13, provided that it obtains approval from the Federal Aviation Administration (FAA) of the United States. Previously, the FAA has repeatedly stated that this flight test may be postponed to November. Domestically, the Qianfan Constellation (G60) will conduct the second network - arrow 18 star launch, and there may be 2 more orbital launch missions to be executed in 2024.
Haitong Securities Research Institute believes that China's low-orbit satellite internet constellation plan includes the GW constellation, G60 constellation, and Honghu-3 constellation, with a total of more than 36,000 satellites. It is expected that China will launch about 3,900 satellites before 2027, and the total number is expected to exceed 6,000 by 2030. In terms of production capacity layout, Beijing, Shanghai, and other places actively respond to national policies, promote the construction of satellite manufacturing bases, and enhance satellite batch production capabilities.Super Express (301005) has established a dedicated commercial space business team, primarily for the manufacturing of commercial rocket body structural parts, including shell segments, fairings, engine valves, etc.; Shanghai Hanxun (300762) participated in the construction of the Qianfan constellation. It is responsible for the development of communication payloads, promoting the commercialization of low-cost satellite applications.
Leading manufacturers accelerate technological innovation, and the prosperity of the folding screen industry chain may continue.
A new mobile phone patent under Microsoft recently passed the application of the United States Patent and Trademark Office (USPTO), which showcases a folding screen "Surface Phone" device with a hinge that can rotate 360 degrees. Under the new patent, the folding screen can switch to traditional mobile phones, tablet computers, laptop computers, and other productivity forms according to different user needs in conjunction with the system. In addition, on October 1, the list published by the National Intellectual Property Administration showed that Xiaomi Corporation obtained a new electronic device invention patent, which envisioned a new form of folding phones in the future and can achieve detachable operations.
Benefiting from technological innovations such as hinges and screens, as well as improvements in the industry chain's yield, the experience of folding screen phones in terms of quality, thinness, and price is expected to continue to improve, achieving an increase in penetration rate.
According to Counterpoint Research, in the second quarter of 2024, global shipments of folding screen smartphones increased by 48% year-on-year, with China accounting for more than half of the global folding screen phone market shipments. According to IDC Consulting, in the second quarter of 2024, China's folding screen phone market shipments were about 2.57 million units, a year-on-year increase of 104.6%, among which, Huawei ranked first with a market share of 41.7%. IDC predicts that with the launch of more new folding screen products by manufacturers in the second half of the year, as well as the expansion of folding screen product lines by manufacturers such as Honor and Xiaomi, the Chinese folding screen market will still achieve rapid growth in the second half of the year. It is expected that the shipments of folding screen phones in China will reach 10.68 million units in 2024, a year-on-year increase of 52.4%, and it is expected to exceed 17 million units by 2028, with a five-year compound annual growth rate of 19.8%.
In addition, the third and fourth quarters are the traditional peak season for the consumer electronics industry. Apple and Android system manufacturers will continue to release new machines, which is expected to drive the valuation center of the consumer electronics industry to rise.
Companies related to the folding screen industry chain, such as Dongmu Shares (600114) and Visionox (002387), can be focused on.
The semiconductor industry chain ushers in a wave of performance increases, and institutions are optimistic about the increase in industry demand.
On the evening of October 9th, several companies in the semiconductor industry chain released their third-quarter performance increase announcements: Jinghe Integration (688249) is expected to increase by 744% to 838%, due to the recovery of industry prosperity, the company's capacity has been fully loaded since March this year, and some product contract prices were adjusted from June; Wei Er Shares (603501) is expected to increase by 515% to 570%, due to the continuous recovery of market demand, the growth of downstream customer demand, and the continuous penetration of the company's products in the high-end smartphone market and automotive market autonomous driving applications; Tai Ling Micro (688591) is expected to increase by about 74%, due to the continuous growth of income from IoT products and audio product lines.Debon Securities Research Institute believes that AI will be the largest incremental demand for semiconductors, with expectations that it will gradually permeate from high-end computing chips, memory chips, and advanced packaging industry chains to consumer electronics terminals. With the launch of products such as AI phones and AIPCs, edge-side AI is expected to follow suit, and there is optimism for the demand of related AIOT chips, analog chips, and memory chips. Additionally, the intelligentization of electric vehicles will also drive chip demand. Fully autonomous vehicles use lidar sensors, 5G communication, and image recognition systems, and it is estimated that the number of semiconductor components will be 8 to 10 times that of non-autonomous vehicles. Currently, the semiconductor sector has reached the bottom of the cycle, with a focus on sectors such as analog, memory, IoT, and power semiconductors.
The first domestically produced "Anhui-made" turbine blades are applied to large aircraft engines
Recently, the high-temperature alloy blades independently developed and produced by Anhui Yingliu Group have been applied to the commercial engines of "large aircraft" such as C919 and C929, achieving the first domestic production and breaking the long-term monopoly and technical blockade by foreign countries.
The successful development of high-temperature alloy blades has successfully broken the foreign monopoly, achieved independent research and development of core components, and is of great significance for the independent development of China's advanced dual-engine industry, enhancing the resilience and security of the industrial and supply chains. At the same time, its extended technical achievements can serve the aviation, aerospace, and gas turbine markets, which is of great significance for improving China's high-end equipment manufacturing level. According to the "2022-2041 Commercial Engine Market Forecast Report" by China Aero Engine Commercial Aviation Engine Company, in the next 20 years, the delivery volume of commercial aviation engines in the Chinese market is expected to be about 18,000 units, with a delivery value of more than 300 billion US dollars, and the after-sales market is expected to reach more than 16 billion US dollars per year.
Relevant listed companies to watch include: Yingliu Shares (603308) actively carries out optimization and improvement work on the YLWZ-190 engine, researching ways to increase the power of the YLWZ-190 engine and reduce fuel consumption; cooperates with relevant units to research and implement a preliminary test plan for the YLWZ-190 engine using ammonia fuel; completes the assembly and test run of the YLWZ-300 engine, delivers it to a certain unit for joint debugging with the power generation system, and the engine runs smoothly.
Aero Engine Power (600893) and its subsidiaries are deeply involved in the production of domestic commercial engine components. As the research and development process of domestic commercial aviation engines progresses in the future, the company's involvement in the civilian aviation engine market will also continue to strengthen. 3) Aero Engine Control (000738) currently, the business of aviation engine and gas turbine control systems is the first major business segment, accounting for about 90%.
The third-quarter report disclosure is launched, focusing on investment opportunities in innovative drugs
On October 8, China's top pharmaceutical company, China Biological Pharmaceutical, announced that its subsidiary, Zhengda Tianqing Pharmaceutical Group Co., Ltd., signed an exclusive licensing and cooperation agreement with Wuhan Youzhiyou Biopharmaceutical Co., Ltd. According to the agreement, Zhengda Tianqing will pay Youzhiyou Bio about 315 million yuan in upfront payments and R&D milestone payments for the licensed product based on the progress of R&D, and pay up to 700 million yuan in sales milestone payments, while paying a tiered royalty fee to Youzhiyou Bio at a single-digit to low double-digit percentage of annual net sales.
In addition, China's innovative drugs continue to attract the attention of domestic and foreign pharmaceutical giants. On October 7, Shiyue Group reached an exclusive authorization agreement with AstraZeneca, under which AstraZeneca will obtain Shiyue Group's preclinical candidate small molecule drug YS2302018, and Shiyue Group will receive a $100 million upfront payment, and will be eligible for up to $1.92 billion in development and commercialization milestone payments in the future, as well as tiered royalty fees.
Recently, several listed pharmaceutical companies have announced their third-quarter performance forecasts. From the disclosed situation, some companies' performance is expected to increase, and some companies' third-quarter single-quarter net profit attributable to the mother company is expected to grow by about 200%. As more and more domestically produced innovative drugs successfully enter the US and European markets and achieve explosive growth in sales, the performance growth rate of leading companies is expected to accelerate, and it is recommended to pay attention to companies such as BeiGene (688235) and Hisense (002653).Establishing Interstellar Links to Achieve Precise Global Services of the Beidou Satellite Navigation System
According to reports, the research team led by Professor Yang Jun from the National University of Defense Technology has been continuously conducting scientific research to tackle challenges, inventing a global constellation with a combination of "precision measurement chain," "global control chain," and "time-sensitive data chain." This innovative interstellar link, which is flexible and multi-modal, has been established between satellites and between satellites and ground stations, creating a "celestial path" that eliminates observation blind spots in foreign regions, allowing the Beidou Satellite Navigation System to provide global services.
The application upgrade of the Beidou system is stimulating the digital and real economies. Market data indicates that the output value of the Beidou navigation and location service industry continues to grow, with the total output value of China's satellite navigation and location service industry reaching 536.2 billion yuan in 2023, a year-on-year increase of 7.09%. In addition, the related output value derived from satellite navigation applications and services grew by 7.79% year-on-year, reaching 375.1 billion yuan, accounting for 69.96% of the total output value. These figures demonstrate that the Beidou navigation system is not only developing rapidly on its own but also driving the rapid growth of related industries.
The main related concept stocks in the A-share market include Zhonghai Dada (300177) and Haige Communication (002465).
Pig Market Sentiment Warms Up, Pig Enterprises Remain Optimistic About Q4 Pig Prices
After the National Day holiday, pig futures have been running strong, with two consecutive days of gains. On the 9th, the main pig contract closed at 17,605 yuan/ton, up 2.44%. Spot prices also rose in tandem. According to data from Soozhu, the national lean pig prices began to rebound on October 4th and have been rising for five consecutive days, with an increase of about 4%. Before the holiday, both group farms and individual farmers actively sold pigs, leading to a significant temporary increase in market supply. During the holiday, as pig prices fell, the second育 (fattening) market was relatively cautious, and individual farmers' ability to hold prices was also limited. Around October 3rd, the pig prices in the three eastern provinces fully entered the 8 yuan range, and individual farmers' reluctance to sell began to rise. Coupled with the widening price difference between standard and fat pigs, the sentiment for secondary fattening has warmed up. In recent days, pig prices have shown a trend of stabilization and strength. Although the light consumption after the holiday has a constraining effect on prices, the release of the pressure from large pigs before the holiday and the low cost of feed have given individual farmers confidence to hold onto their pigs. Moreover, after the National Day holiday, the weather will further cool down, and market pork consumption will gradually enter the peak season. After the digestion during the Mid-Autumn Festival and National Day, the pressure of large pig inventory in the breeding end has been somewhat alleviated, and the prices of large pigs will also run strong in the later period.
At the listed company level, before the National Day holiday, three companies, including Xinwufeng, Juxing Agriculture, and Shennong Group, held a collective roadshow for the pig industry on the Shanghai Stock Exchange Roadshow. Although domestic pig spot prices have fallen back to around 18 yuan/kg, most companies remain cautiously optimistic about pig prices for the fourth quarter of this year. Currently, the valuation of the pig breeding sector has dropped to a low level, and it is worth paying attention to the pig breeding sector when the prices are low, with individual stocks such as Muyuan Foods (002714) and Shennong Group (605296).