Jinri Toutiao

Supervision requires local governments to declare the third batch of special debt projects in 2022New infrastructure and new energy projects are included in the scope of declaration

The reporter learned from a number of local development, reform and financial personages that recently the regulatory authorities informed the local authorities that they were required to declare the third batch of local government special bond projects in 2022, with the aim of giving full play to the important role of special bonds in promoting the expansion of effective investment and effectively stabilizing the macroeconomic market.

In accordance with the regulatory requirements, this batch of declared projects can include new infrastructure and new energy projects in the scope of declaration on the basis of the existing nine major areas, such as transportation infrastructure, energy, and affordable housing projects. According to a person from the development and reform system of a prefecture and city in the western province, the province informed that the new infrastructure projects support the informationization of municipal, public services and other livelihood areas; the intelligent transformation of traditional infrastructure such as rail transit, airports, and highways; and cloud computing, data centers (within the nodes of the national computing hub), and artificial intelligence infrastructure. New energy projects support villages and towns solar, geothermal, biomass and other renewable energy heating, far-reaching sea wind power and its delivery projects, remote areas off-grid new energy microgrid, highway charging piles.

From the perspective of issuance, after the end of this week, the new special bond issuance will reach 3.4 trillion at the end of June, the remaining quota this year is already very small, and a new batch of special debt projects still need to match the quota. The advance notice issued by the western provinces to the cities and prefectures is clear that the special bond quota in 2023 can be selected from the list of projects approved by this declaration to make arrangements for issuance.

Recently, the China charging Alliance announced the operation of the national electric vehicle charging infrastructure in May 2022. From January to May in 2022, the increment of charging infrastructure was 963000, of which the increment of public charging piles increased by 253.8 percent compared with the same period last year, and the increment of private charging piles built with cars continued to rise, up 516.5 percent from the same period last year. As of May 2022, the cumulative number of charging infrastructure in the country was 3.581 million, an increase of 91.5% over the same period last year.

Involving relevant Hong Kong stocks:300001.SZ announcement, the company and$CLP Holdings Limited (00002.HK) $By giving full play to the advantages of all parties, it is proposed to jointly set up China Electric Power Special call charging Grid Operation Co., Ltd., taking the Greater Bay area as the business starting point and focus, to carry out electric vehicle charging business and related value-added services in the field of charging piles, to create a mature cooperation model.

General trend prospect

Overnight US stocksThe three major indexes rise and fall differently.

Overnight, the three major indexes of US stocks were mixed. The Dow rose 82.32 points, or 0.27%, to 31029.31; the NASDAQ fell 3.65 points, or 0.03%, to 11177.89; and the S & P 500 fell 2.72 points, or 0.07%, to 3818.83. The ADR index of Hong Kong stocks fell to close at 21988 on a pro rata basis, down 7.95 points or 0.04 per cent from the close in Hong Kong.

Hot spot prospect

The price of domestic oil products will not be raised temporarily after the international oil price exceeds the upper limit of 130 US dollars per barrel.

According to the NDRC, in order to reduce the burden on downstream users and consumers and reduce the operating costs of the real economy, with the consent of the State Council, when the international oil price exceeds the regulatory limit of 130 US dollars per barrel, domestic refined oil prices will not be raised in the short term (no more than two months). In the follow-up, if the international oil price exceeds the regulatory ceiling of 130 US dollars per barrel for a cumulative period of more than two months, relevant policies and measures will be clarified in advance.

At the same time, in order to protect the production enthusiasm of oil refining enterprises and ensure the safe and stable supply of oil products, the central finance shall give periodic price subsidies to oil refining enterprises, and the subsidy standard is that the prices of gasoline and diesel oil should be adjusted in the price adjustment cycle. oil refining enterprises that meet the requirements may apply in accordance with the process. Related to Hong Kong stocks "three barrels of oil".

With a price increase of nearly 50%, two hundreds of billions of giants re-sign rare earth supply agreements.

On the evening of June 29th, Northern rare Earth (600111.SH) announced that it had re-signed a "rare earth concentrate supply contract" with Baotou Iron and Steel Co. (600010.SH) and adjusted the trading price of rare earth concentrate to 39200 yuan per ton excluding tax from July 1 this year. After adjustment, the total volume of rare earth concentrate transactions between the two sides this year will not exceed 230000 tons, and the total transaction volume is expected to be no more than 8.6 billion yuan.

Xiangcai Securities released a research report that wind power and new energy vehicles and other emerging industries continue to support the rapid growth of demand for rare earth permanent magnet materials, and its long-term development space determines that it will become the core driver of rare earth permanent magnet materials in the future. The relevant Hong Kong stocks include$Golden Force permanent Magnet (06680.HK) $。

Ministry of Culture and Tourism: the second half of the year will plan and implement an action plan to promote culture and tourism consumption.

Ma Li, deputy director of the Industrial Development Department of China's Ministry of Culture and Tourism, revealed on the 29th that the Ministry of Culture and Tourism will plan and implement an action plan to promote culture and tourism consumption in the second half of the year. In July, it will launch a "Culture and Tourism Enterprise Service month" with the theme of "helping enterprises to relieve hardship and promote development". On the message side, from now on, the communication itinerary card cancels the "asterisk" mark. Related to tourism and duty-free shops, including$Trip.com-S (09961.HK) $、$same trip (00780.HK) $、$Meilan Airport (00357.HK) $、Fosun Tourism Culture (01992.HK) $, Haichang Ocean Park$Haichang Ocean Park (02255.HK) $等。

Individual stocks are sunny.

$Zijin Mining Group (02899.HK) $It is proposed to acquire 71.14% equity of Houdao Mining Industry with 1.8 billion yuan.

Zijin Mining Group announced that the company signed the "Equity transfer Agreement" with the transferor, and the company invested 1.8 billion yuan to acquire a total of 71.14% of the equity held by the transferor. Hudao Mining holds 100% interest in Xiangyuan Lithium Polymetallic Mine in Dao County, Hunan Province. The company signed a "Cooperative Development Framework Agreement" with Luo Raqi, a natural person who holds the remaining 28.86% stake in Hondo Mining, and Wang Mingyue, the actual controller of that part of the shareholding. The two sides agreed to form a mining company (on the basis of the former Hondo Mining). Zijin Mining Group holds 66% shares. Wang Mingyue holds 34 per cent) and smelting companies (66 per cent by Wang Mingyue and 34 per cent by Zijin Mining Group) develop and smelt the Xiangyuan lithium polymetallic project. The acquisition is financed by the company itself.

$Hua Hong Semiconductor (01347.HK) $The registered capital of Huahong Wuxi will increase to about 2.537 billion US dollars.

Hua Hong Semiconductor announced that on June 29, 2022, the company, Huahong Hongli, Wuxi entity, National Integrated Circuit Industry Fund, National Integrated Circuit Industry Fund II and Huahong Wuxi signed a capital injection agreement. The board of directors has conditionally agreed that Huahong Wuxi's registered capital will be increased from US $1.8 billion to about US $2.537 billion. Among them, the company, Huahong Hongli, Wuxi entity and the National Integrated Circuit Industry Fund II each contributed approximately US $1.778 billion, US $230 million, US $160 million and US $232 million respectively as capital injections to Huahong Wuxi. Upon completion of the capital injection, Huahong Wuxi will continue to be a non-wholly owned subsidiary of the company, which is approximately 22.2% owned by the company and approximately 28.8% held by Huahong Hongli.

Huahong Wuxi 12-inch (300mm) wafer plant entered its fourth year of production in 2022, the announcement said. Although Huahong Wuxi continues to expand its production capacity, it is still in short supply due to the continued strong demand for wafers brought about by market development. The capacity utilization of Huahong Wuxi remains at a very high level. In the financial years 2020 and 2021, Huahong Wuxi has achieved all the internal business objectives of technology development, capacity expansion and product delivery.

In addition, it is expected that the global imbalance between supply and demand of semiconductors and chips will continue beyond 2022, especially in the automotive sector, one of the industries the company focuses on. Huahong Wuxi received the IATF16949 Automotive quality Management system Certification in 2020 and introduced its automotive products into its 12-inch wafer plant from 2021. Coupled with the proposed capital injection, Huahong Wuxi's expertise will enable the company to further meet the needs of the automobile market. The company looks forward to seizing and taking advantage of this attractive and significant market opportunity to ensure that Huahong Wuxi has sufficient working capital to expand its 12-inch (300mm) wafer production capacity.

In view of the strong performance of Huahong Wuxi and the company's "8 inch + 12 inch" corporate strategy, the company will continue to expand the production capacity of its 12-inch wafer production line in 2022. The capital injection is in line with the company's strategy to enhance its leading market position and competitiveness in the 8-inch (200mm) and 12-inch (300mm) wafer foundry industries.