On September 24, the China Securities Regulatory Commission publicly solicited opinions on the 'Guidelines for the Supervision of Listed Companies No. 10 - Market Value Management (Draft for Soliciting Opinions).' Articles 8 and 9 of the 'Guidelines' have specific requirements for the main index constituent stock companies and long-term companies trading below net asset value. Long-term companies trading below net asset value should disclose their valuation enhancement plan, including targets, deadlines, specific measures, and provide a special explanation on the execution of the valuation enhancement plan at the annual performance briefing.

The GTJA strategy team believes that the central bank's innovative structural monetary policy tools for the stock market are expected to lower the risk assessment of the stock market. The establishment of a special re-lending facility for share buyback and holding is of significant importance for central state-owned enterprises with market value management requirements and stable ROE private blue-chip companies, providing them with the ability to increase their stock holdings. However, considering the requirements of the asset-liability ratio, the stock price valuation elasticity of heavily undervalued central state-owned enterprises and small companies with small market capitalization may benefit more.

According to the Financial Data Center, among related listed companies:

The controlling shareholder of Fujian Sanmu Group is the Fuzhou Economic and Technological Development Zone Finance Bureau. The company's main business includes import-export trade, real estate development, and venture capital investment. The company's pb ratio is 0.84, with a market cap of only 1.3 billion yuan.

The controlling shareholder of Hebai Group is the Hefei State-owned Assets Supervision and Administration Commission. The company's main businesses are in retail trade and agricultural products trading market. The company's pb ratio is 0.71, with a market cap close to 3.4 billion yuan.