Focus on hotspots.

1. On March 14, the People's Bank of China released the latest financial and social financing data, indicating that in the first two months of this year, RMB loans increased by 6.14 trillion yuan, of which nearly one trillion yuan were added in February alone; the social financing increase in February was 2.24 trillion yuan, 741.6 billion yuan more than the same period last year.

2. Recently, the General Office of the Communist Party of China and the General Office of the State Council issued the "Special Action Plan to Boost Consumer" aimed at expanding domestic demand comprehensively, enhancing Consumer capacity, and optimizing the Consumer environment. The plan includes actions to increase income for urban and rural residents, support for safeguarding Consumer capacity, actions to improve service consumption quality and benefit the public, among seven major areas, totaling thirty specific measures.

3. In response to issues exposed by the "3·15" gala related to Siasun Robot&Automation making marketing harassment calls and shortcomings in the implementation of Virtual Network Operator real-name systems, the Ministry of Industry and Information Technology organized overnight investigations by communication management bureaus in Beijing, Shanghai, Guangdong, and other locations into entities suspected of illegal and regulatory violations, ordering basic telecom operators to immediately shut down involved lines, verify issues related to personal data information, and urge internet platform companies to completely clean up illegal smart outbound software sales promotion information. Additionally, strong measures will continue to be taken to strengthen supervision and inspection of basic telecom operators, Virtual Network Operators, and call center companies, strictly investigating illegal enterprises, increasing exposure efforts, and actively cooperating with relevant departments to lawfully crack down on illegal and criminal activities in the online black and gray industries, fully creating a safe and healthy information communication Consumer environment.

4. According to the China Real Estate Association, to implement the spirit of the symposium held on February 17 for private enterprises and propose targeted and actionable policy suggestions to relevant departments, on March 11, the China Real Estate Association organized a symposium for private real estate enterprises to gather opinions and suggestions from companies. Vice President Zhang Qiguang presided over the meeting, with representatives from companies such as Binjiang, Longfor, Xuhui, Rongsheng, Zhongliang, and Xin Oupeng participating.

Global Index

In the US stock market, as of last Friday, the Dow Jones Industrial Average rose by 1.65%, closing at 41,488.19 points; the S&P 500 Index increased by 2.13%, closing at 5,638.94 points; the Nasdaq rose by 2.61%, closing at 17,754.09 points.

Large technology stocks rose across the board, with Apple up 1.82%, Microsoft up 2.58%, NVIDIA up 5.27%, Google up 1.68%, Amazon up 2.09%, Meta up 2.96%, and Tesla up 3.86%.

Most China Concept Stocks rose, with the Nasdaq Golden Dragon China Index up 2.69%, Alibaba up 1.99%, JD.com up 4.66%, PDD Holdings up 3.18%, NIO up 3.59%, Xpeng Motors down 6.39%, Li Auto down 4.39%, Bilibili up 2.14%, Baidu down 0.47%, NetEase down 0.71%, Tencent Music up 1.21%, and iQIYI up 3.07%.

Regarding the Hong Kong stock market, as of last Friday's close, the Hang Seng Index, Technology Index, and Hang Seng China Enterprises Index rose by 2.31%, 2.75%, and 0.98%, closing at 23959.98 points, 5880.78 points, and 8877.99 points, respectively.

From the market performance perspective, the Dairy industry, Real Estate, and Pharmaceutical stocks showed strong performance, while large financial related stocks also experienced increases.

Company News

GTJA (02611.HK): The company name is proposed to change to 'Guotai Haitong Securities Co., Ltd.'.

CHINAHONGQIAO (01378.HK): Revenue for 2024 is 156.169 billion yuan, up 16.87% year-on-year; Net income is 22.372 billion yuan, up 95.21% year-on-year.

CG SERVICES (06098.HK): Expected composite revenue for 2024 is approximately 43.8 billion to -44.2 billion yuan, a year-on-year increase of about 2.8% to 3.7%; Net income is expected to rise approximately 447.4% year-on-year to about 1.6 billion to 2 billion yuan.

Li Auto-W (02015.HK): Total revenue for 2024 is 144.5 billion yuan, an increase of 16.6% year-on-year; vehicle sales revenue is 138.5 billion yuan, an increase of 15.2% year-on-year; Net income is 8 billion yuan, a decrease of 31.9% year-on-year. Total vehicle deliveries for the year reached 500,500 units, a growth of 33.1%.

TG SMART ENERGY (01083.HK): In 2024, revenue reached 21.314 billion Hong Kong dollars, an increase of 7.42% year-on-year; net income was 1.606 billion Hong Kong dollars, up 2% year-on-year. During the period, the Wind Power business performed strongly, while the gas business maintained robust profits.

MINMETALS LAND (00230.HK): Expected net loss for 2024 is approximately 0.566 billion Hong Kong dollars, a year-on-year shift from profit to loss.

Lingmeng Film (09857.HK): A net loss of 0.18 billion to 0.2 billion yuan is expected in 2024, mainly due to the relatively low number of episodes aired, and some new businesses are still in the early investment stage.

INKEVERSE (03700.HK): Issues a profit warning, expecting after-tax net profit in 2024 to drop year-on-year to no more than 0.24 billion yuan, a significant decline.

SCE CM (00606.HK): A net profit of 0.05 billion to approximately 0.07 billion yuan is expected in 2024, mainly due to a decrease in the revenue from value-added services with high gross margins.

WESTCHINACEMENT (02233.HK): A year-on-year increase of approximately 35% to 45% in net profit is expected in 2024.

China Graphite (02237.HK): A net loss of no more than 14 million yuan is expected in 2024.

Metallurgical Corporation of China (01618.HK): The amount of new contracts signed in the first two months is 141.63 billion yuan, a year-on-year decrease of 27.5%. Among them, the amount of new overseas contracts signed is 5.66 billion yuan, an increase of 15.4%.

China Shenhua Energy (01088.HK): The coal sales volume in the first two months is 64.7 million tons, a year-on-year decrease of 16.3%. The sales volume in February is 34.3 million tons, a year-on-year decrease of 11.4%. This is mainly due to insufficient downstream coal demand and the structure adjustment of shipping business.

China Coal Energy (01898.HK): In the first two months, the cumulative sales volume of commodity Coal reached 39.38 million tons, a year-on-year decrease of 1.3%. In February, the sales volume of commodity Coal was 17.47 million tons, a year-on-year decrease of 4.4%.

R&F PROPERTIES (0277.HK): In the first two months, the cumulative contract sales amounted to 1.58 billion yuan, a year-on-year decrease of 3.1%. In February, the sales were 0.795 billion yuan, a year-on-year increase of 22.3%.

SINO-OCEAN GP (03377.HK): In the first two months, the cumulative contract sales were 2.88 billion yuan, a year-on-year increase of 42.57%. In February, the sales were 0.99 billion yuan, a year-on-year increase of 20.73%.

China Pacific Insurance (02601.HK): In the first two months, through China Pacific Life and China Pacific Property Insurance, obtained original premium income of 69.006 billion yuan, a year-on-year increase of 9.1% and 39.718 billion yuan, a year-on-year increase of 1.9%.