Refining and Trade
- 1306.595
- -11.182-0.85%
Futu Morning Post | Chinese concept stocks lead the US large cap market! The Jinlong index rose by more than 4%; Nomura warns: the market is hedging excessively against Trump trade, may see a 'Harris accident'.
Apple released the iMac with the M4 chip, the first batch of AI features officially implemented; US oil plunged by over 6%, the worst in over two years, Citigroup lowered its oil price target; Bitcoin traders once again look to surpass the $0.07 million mark, with funds flowing into US etf.
Bullish! China's assets target price has been repeatedly raised by foreign investment, how will it evolve in the future?
In the past two trading days, the A-share and Hong Kong stock markets have both rebounded, with the target prices of many listed companies successively raised by foreign institutions. Going forward, how will the assets in China perform?
Oil prices fell, dragging down Sinopec's Q3 net profit by 52.1% year-on-year, while CNOOC's revenue declined | Financial Report Review
In the third quarter, Sinopec's net income fell sharply, with a significant decrease in inventory income year-on-year under the rapid decline in oil prices, as well as a slight narrowing of refining product gross margin; CNOOC's revenue decreased year-on-year, but net production and net income increased significantly year-on-year, with significant cost advantages.
The product price spread fell year-on-year, dragging down hengli petrochemical's Q3 net income to 1.09 billion, a significant 59% year-on-year decline. | Financial report insights
In the third quarter, hengli petrochemical's earnings per share was 0.16 yuan, a year-on-year decrease of 57.89%. In the third quarter, hengli petrochemical's profit and earnings per share both dropped by nearly 60%, mainly due to a year-on-year reduction in product price differentials for the quarter, leading to a decline in quarterly profits.
Share buyback and shareholding loans are quickly implemented! Industrial and Commercial Bank of China, Bank of China, China Construction Bank, China Merchants Bank, Citic Bank, and other banks have announced progress. Some banks have cooperation intention
①As of now, Bank of China has reached cooperation intentions with nearly a hundred listed companies, explicitly committing loans to 32 listed companies, covering industries such as integrated circuits, transportation, high-end manufacturing, and business services; ②The bank stated that it will strictly adhere to the risk compliance bottom line, rigorously prevent crediting funds that do not meet the conditions of the stock increase stake & buy back and reloan policy from illegally flowing into the stock market.
"Repurchase, shareholding, and re-lending" is quickly implemented! The scale has exceeded 10 billion yuan, with central enterprises leading the trend.
①Yesterday, the first batch of 23 listed companies have disclosed information on shareholding, repurchasing, and additional financing, with the total amount involved exceeding one billion yuan; ②Among central state-owned enterprises, two major shipping giants, China Merchants Group and cosco shp sg, have multiple companies involved, while private enterprises are represented by industries such as aquaculture, photovoltaics, and semiconductors; ③Market participants believe that the new policy on additional financing has received enthusiastic responses, which will help further activate the market and bring more liquidity.
It is expected that relevant national authorities will establish a low-altitude economic regulatory bureau.
①The establishment decision has been approved, and the new bureau is currently in preparation; ② The low-altitude economy set up a dedicated bureau, which can better coordinate resources at all levels to promote industrial development.
Midday Recap | Hong Kong stocks continue to surge! The Hang Seng Index is up more than 2%; network technology and automotive stocks are performing well, with xpeng rising by about 10% and alibaba reaching a new high in over a year.
Most network technology stocks rose, with SenseTime leading the gains with a more than 6% increase, Bilibili up nearly 4%, Alibaba up more than 3%, Meituan up nearly 3%, Netease and JD.com up more than 1%, and Tencent up nearly 1%.
The 2700 point level once again sees a billion-level buyback plan! And there are nearly ten companies disclosing their first buyback actions tonight.
① Fangda Carbon and Wens Foodstuff have announced their intention to buy back shares with a range of 0.5 billion-1 billion yuan and 0.9 billion-1.8 billion yuan, respectively; ② Tonight, China Petroleum & Chemical Corporation, Jiajiayue Group, Haizheng Biomaterial, Xishan Technology, New Journey Health Technology Group, Hubei W-olf Photoelectric Technology, D&O Home Collection Group, JIANKUANG Stock have announced the implementation of this round of share repurchases for the first time.
After nearly 9 months, Saudi Aramco and rongsheng petro chemical have finalized some details of their new round of cooperation | Speed reading announcement.
1. Both parties have reached a consensus on the expansion of the Jubail Refinery and Petrochemical Company; 2. Starting from the date of cooperation announcement, it took nearly 9 months to finalize the details; 3. The overall investment scale, investment method, and other core details are still subject to negotiation; 4. Saudi Arabia continues to increase its investments in China to promote its own energy transformation.
Quick Look at Mid-day Trading | The three major stock indexes in Hong Kong all fell, with oil and coal stocks declining; all three major oil companies saw a drop of over 5%, while Tianqi Lithium Corporation surged 12% against the market trend.
Network technology stocks generally fell, with SenseTime down nearly 3%, JD.com, Netease down nearly 1%, Tencent, Alibaba slightly down; Bilibili rose by over 1%, Meituan slightly rose.
Futu Morning News | Fed officials' dovish tone: Economic data support multiple rate cuts; Tesla's two-day cumulative increase of 9%! FSD is expected to be launched in China and Europe next year.
On the eve of the release of the key employment report in the USA, the ADP non-farm payrolls reached the lowest level since January 2021, while initial claims remain stable. Yellen: The labor market in the USA is still robust and continues to create employment opportunities. The Federal Reserve should not delay any longer! Economists at Morgan Stanley have changed their stance: there must be a major move in September.
Futu Morning News | The "arrow" of interest rate cuts is on the string! The hawkish voting committee suddenly released a dovish signal, and the market increased its bet on a 50 basis point interest rate cut; Tesla rose more than 4% against the market and
Fed Beige Book: More regional economic activity is stagnating, price pressures are stabilizing; Alleged to be facing antitrust investigation, Nvidia says it has not received a subpoena from the U.S. Department of Justice; C3.ai falls over 16% after hours, Q1 subscription revenue for fiscal year 2025 falls short of expectations.
Can deliver medicine, transport seafood! Low-altitude economic commercialization accelerates the casting of carbon fiber into the "skeleton" of drones | Frontline
①By the end of June, Fengyi drones have flown nearly one million flights, transported over 4.2 million items, and flown a total distance of nearly 5 million kilometers. ②The East China drone base has attracted about 38 industry chain companies covering manufacturing, application, and other sectors, with a total planned investment of 3.33 billion yuan. ③Currently, Sinopec Shanghai Petrochemical has a production capacity of 1500 tons/year of small tow carbon fiber and 6000 tons/year of large tow carbon fiber.
Collaborating with Saudi Aramco for insider trading, many members of the Rongsheng system management are involved in the "nest case".
Rongsheng Petro Chemical and affiliated enterprise management engaged in insider trading by borrowing from Saudi Aramco. Four people including the company's secretary and the vice general manager of affiliated companies were directly involved. By advance positioning, these insiders collectively gained profits over 3.5 million yuan. Their illegal gains were confiscated, and they were fined over 11.2 million yuan.
Instead of looking at whether or not fines were received, the focus is on how many fines were received, with leading brokerages receiving a high number of fines, mostly from investment banks.
① In the year when Andak Technology, sponsored by Citic Securities, went public, the non-deductible loss was 0.634 billion yuan, and Hengyi Petrochemical's convertible bonds had an operating profit decrease of more than 50% in the year of issuance; ② In Bonam Precision, which terminated its IPO withdrawal, the sponsor did not execute the verification procedure properly and did not carefully check abnormal situations.
Futu Morning News | AI revenue doubled YoY! AMD surged nearly 8% after-hours, leading the chip stocks rally; Media preemptively disclosed? The Bank of Japan may raise interest rates to 0.25% today.
US job openings in June were higher than expected, with significant drops in voluntary quits and hiring, and fewer layoffs; Israeli airstrikes in the southern suburbs of the Lebanese capital have killed 3 and injured 74.
Polyester major manufacturers demand rising in the first half of the year, Tongkun Group's net profit increased more than eight times year-on-year. | Quick announcement
The company expects a net income of 1 billion to 1.15 billion yuan in the first half of 2024, an increase of 849.4% to 991.81%; the company stated that sales volume and price difference of polyester filament products increased in the first half of the year; major polyester filament enterprises have resumed price increases at the end of June.
Investigation of the 'tax supplementation' incident of Ningbo Bohui Chemical Technology: controversial products have repeatedly been tested for ingredients, and process optimization is suspected to avoid taxes.
The tax authority in charge has conducted multiple ingredient tests on Ningbo Bohui Chemical Technology's "heavy aromatic hydrocarbon derivatives" regarding the controversy over the "tax supplement" incident. After the adjustment of tax policies, the company immediately optimized the process of its facilities in July last year, stirring up suspicions of tax evasion. According to the information disclosed by the company, the estimated tax amount for related products is 2105 yuan/ton, and the average price of products in the first quarter of this year is about 4700 yuan/ton.
The main production unit has been shut down and Ningbo Bohui Chemical Technology's stock has fallen more than 17%.
Ningbo Bohui Chemical Technology also stated that in order to control operation costs, the company will adopt various measures to reduce expenditures, including but not limited to gradually arranging employee vacations, salary reduction, layoffs, etc., in order to maintain daily operational activities.