Financial early participation in governance was chaotic and management was out of control, and Hehe Futures was taken over by the CSRC; The scope of policy support for the transformation of villages i
Every reporter Fan Qian every editor Lu Xiangyong Wang Yanli Wang Xiaobo
NO.1 overnight market
The three major indexes of US stocks collectively closed down, with the Nasdaq falling by 427.53 points, or 2.24%, and falling by 3.15% this week. The S&P 500 index fell by 1.32%, and it fell by 2.08% this week. Dow fell 0.7%, down 1.24% this week.; Among them, the Nasdaq and the S&P 500 both recorded their biggest weekly declines since September, while the Dow recorded its biggest weekly decline since late October. Most large-scale technology stocks fell, with Amazon and Meta falling more than 4%, NVIDIA falling more than 3%, Microsoft and Intel falling more than 2%, and Apple, Netflix and Google falling more than 1%. Tesla rose more than 3%; Disney rose more than 5%, and this week it rose 16.21%, the biggest weekly increase in the last 24 years; Palantir rose more than 11%, hitting a record high, and the company is about to be included in Nasdaq.Most of the Chinese stocks rose, and the Nasdaq China Jinlong Index rose by 0.82%, this week’s cumulative decline of 5.9%; JD.COM rose by nearly 5%, famous products and LI rose by more than 2%, Weilai and New Oriental rose by more than 1%, Alibaba and iQiyi fell by more than 2%, and Bili and Zhihu fell by more than 1%.
International oil prices fell across the board, and the US oil contract in December fell 2.55% to $66.95/barrel, down 4.87% on the week; In January 2025, the oil distribution contract fell by 2.09% to $71.04/barrel, down by 3.83% on a weekly basis.
Spot gold fell by 0.06% to $2,562.72 per ounce, with a cumulative decline of 4.52% this week, the biggest weekly decline since June 2021; Spot silver fell 0.71% to $30.238 per ounce, down 3.4% this week.
Major European stock indexes collectively closed down, and the German DAX 30 index fell by 0.29%, which was roughly flat this week; The French stock index fell by 0.55% and fell by 0.88% this week; The Italian stock index fell by 0.5%, and this week it rose by 1.12%; The British stock index fell by 0.11%, and it has fallen by 0.08% this week.
NO.2 The General Administration of Financial Supervision issued the Measures for the Administration of Non-performing Assets of Financial Asset Management Companies.
On November 15, the General Administration of Financial Supervision recently formulated and issued the Measures for the Administration of Non-performing Assets Business of Financial Asset Management Companies, and the heads of relevant departments answered reporters’ questions on related issues. The Measures consists of 8 chapters and 70 articles, including general provisions, acquisition of non-performing assets, management of non-performing assets, disposal of non-performing assets, other businesses related to non-performing assets, risk management, supervision and management, and supplementary provisions.The Measures start with the whole process of acquisition, management and disposal of non-performing assets of financial asset management companies, broaden the scope of acquisition of non-performing financial assets in an orderly manner, clearly refine the standards of non-performing assets of non-financial institutions that can be acquired, and further clarify the regulatory requirements for key links such as due diligence, disposal pricing and disposal announcement.At the same time, it is stipulated that financial asset management companies can carry out light asset business such as consulting and entrusted disposal related to non-performing assets, cultivate differentiated core competitiveness, and play an active role in giving play to the countercyclical rescue function, especially in the reform of small and medium-sized financial institutions.
NO.3 Ministry of Finance and State Administration of Taxation: Cancel the export tax rebate for aluminum, copper and chemically modified animal, plant or microbial oils and fats.
On November 15th, the Ministry of Finance and the State Administration of Taxation issued an announcement to adjust the export tax rebate policy.First, cancel the export tax rebate for aluminum, copper and chemically modified animal, plant or microbial oils and fats. 2. Reduce the export tax rebate rate of some refined oil products, photovoltaics, batteries and some nonmetallic mineral products from 13% to 9%.. III. This announcement shall be implemented as of December 1, 2024. The export tax rebate rate applicable to the products listed in this announcement is defined by the export date indicated in the export goods declaration form.
NO.4 The CSRC issued the Regulation Guidelines for Listed Companies No.10-Market Value Management.
On November 15th, China Securities Regulatory Commission issued "Guidelines for Supervision of Listed Companies No.10-Market Value Management".The Guidelines require listed companies to improve their operating efficiency and profitability on the basis of improving the company’s quality, and to use merger and acquisition, equity incentive, employee stock ownership plan, cash dividend, investor relationship management, information disclosure and share repurchase in accordance with the actual situation in order to promote the investment value of listed companies to reasonably reflect the quality of listed companies.. The Guidelines clarify the responsibilities of the board of directors, directors and senior managers of listed companies, and make special requirements for major index companies to formulate market value management systems and disclose valuation improvement plans for long-term broken companies. At the same time, the Guidelines explicitly prohibit listed companies from committing illegal acts in the name of market value management.
CSRC: It is a case that Hehe Futures was taken over due to chaotic corporate governance and out-of-control management.
On November 15th, according to the website of CSRC, the person in charge of relevant departments of China Securities Regulatory Commission answered a reporter’s question about the takeover of Hehe Futures, and said that by the end of August 2024, there were 150 futures companies in 29 jurisdictions, and from January to August this year, the total operating income of the whole industry was 24.386 billion yuan and the net profit was 5.256 billion yuan. On the whole, the futures industry operates in a standardized way and has strong anti-risk ability.Hehe Futures was taken over because of the chaotic corporate governance and out-of-control management, which is a case. The purpose of taking over Hehe Futures is to maintain its stable operation and prevent risk spillover, which is more conducive to the healthy and stable development of the futures industry.. In the next step, the China Securities Regulatory Commission will steadily push forward the takeover of relevant work, earnestly safeguard the healthy and stable development of the futures market, and keep the bottom line that systemic financial risks will not occur.
NO.5 The National Internet Information Office issued the "Guide to the Construction of Mobile Internet Minors Model"
In order to further strengthen the network protection of minors, give full play to the positive role of minors’ mode in preventing network addiction, optimizing content construction, and create a healthier and safer network environment, according to the Law of People’s Republic of China (PRC) on the Protection of Minors and the Regulations on the Protection of Minors’ Network, the National Internet Information Office recently issued the Guide for the Construction of Mobile Internet Minors’ Mode (hereinafter referred to as the Guide). The Guide puts forward an overall plan for the construction of the juvenile model.Encourage and support mobile intelligent terminals, applications and application distribution platforms, etc., and jointly participate in the construction of minors’ mode, integrate decentralized functions and integrate segmented protection, and build a "triple defense line" for minors’ network protection.. The Guide consists of seven chapters, detailing the specific construction tasks of different subjects, unifying technical standards such as "three-way linkage" and "one-click start", and providing guidance for enterprises to fulfill their obligations of network protection for minors. ("Netcom China" WeChat public number)
NO.6 The spokesman of the Ministry of Commerce should answer reporters’ questions on the publication of the Export Control List of Dual-use Items in People’s Republic of China (PRC).
With the approval of the State Council, on November 15, 2024, the Ministry of Commerce, together with the Ministry of Industry and Information Technology, the General Administration of Customs and the State Cryptography Bureau, issued Announcement No.51 of 2024, promulgating the Export Control List of Dual-use Items in People’s Republic of China (PRC) (hereinafter referred to as the List), which will be implemented on December 1, 2024. The spokesman of the Ministry of Commerce answered the reporter’s questions on the List. Q: Has the scope of control been adjusted in the List, and will China consider adding items to the List in the future? A:China’s formulation of the List this time is to systematically integrate all existing controlled dual-use items and establish a complete list system and system, and does not involve the adjustment of specific control scope for the time being.. China has always adhered to the principles of rationality, prudence and moderation in the management of dual-use items.At present, the number of dual-use items under control is only about 700, which is obviously less than that of major countries and regions.. In the future, China will, according to the needs of safeguarding national security and interests and fulfilling international obligations such as non-proliferation, comprehensively consider factors such as industry, technology, trade and safety on the basis of extensive investigation and evaluation, and push forward the management and adjustment of items in a safe and orderly manner according to law. (Website of Ministry of Commerce)
NO.7 Tianzhou-8 cargo spacecraft and space station assembly completed rendezvous and docking
According to the China Manned Space Engineering Office,Tianzhou-8 cargo spacecraft successfully completed the state setting after it was put into orbit. At 2: 32 on November 16, 2024, Beijing time, it successfully docked with the space station Tianhe and the backward port of the core module.. After the rendezvous and docking, Tianzhou-8 will be transferred to the combined flight section. Subsequently, the Shenzhou-19 astronaut crew will enter the Tianzhou-8 cargo spacecraft and carry out cargo transshipment and other related work as planned.
NO.8 The scope of policy support for urban village reconstruction has been extended to nearly 300 cities at prefecture level and above.
The Ministry of Housing and Urban-Rural Development and the Ministry of Finance jointly issued a notice recently.It is clear that the scope of policy support for the reconstruction of villages in cities will be further expanded from the initial 35 mega-cities to nearly 300 cities at prefecture level and above.. The two departments made it clear in the notice that projects with balanced funds and mature compensation schemes in prefecture-level cities can be included in the scope of policy support. According to the requirements of the notice, the scope of policy support for urban village reconstruction has been further expanded from the initial 35 mega-cities and large cities with a permanent population of more than 3 million to nearly 300 cities at the prefecture level and above. Eligible urban village reconstruction projects in these cities can receive policy support, such as being included in the scope of local government special bonds, providing special loans for urban village reconstruction by development and policy-oriented financial institutions, applying relevant preferential tax and fee policies, and encouraging commercial banks to provide loans for urban village reconstruction according to the principles of marketization and rule of law, so as to ensure the smooth progress of the projects. (CCTV News)
NO.9 The tax authorities announced three cases in which network anchors were punished for tax evasion.
The reporter learned from State Taxation Administration of The People’s Republic of China that in recent years, the tax authorities have strengthened the tax service and tax supervision for webcasting practitioners in accordance with the law, continuously improved the tax compliance of webcasting industry personnel, and continuously created a fair and just tax order. However, there are still some webcast practitioners who are lucky enough to evade taxes and try their best to disrupt the normal tax order and hinder fair competition in the market. On November 15th,The tax authorities in Sichuan, Liaoning, Zhejiang and other places investigated and published three cases of tax evasion by network anchors according to law.. (CCTV News)
NO.10 international news
Trump established the National Energy Commission and appointed North Dakota Governor Bergherm as its chairman.
On November 15, local time, US President-elect Trump announced through social media.Doug Bergherm, the governor of North Dakota, will serve as the Secretary of the Interior and the chairman of the newly established National Energy Commission after he takes office.. Bergherm was a senior vice president of Microsoft and has been the governor of North Dakota since 2016. (CCTV News)
Li Zaiming, the leader of Korea’s largest opposition party, was sentenced to one year in prison in the first instance.
On the 15th, local time, the Central District Court of Seoul, South Korea handed down a first-instance verdict on the case that Li Zaiming, leader of the Common Democratic Party, the largest opposition party in South Korea, was suspected of violating the Public Office Election Law.He was sentenced to one year’s imprisonment with a two-year suspension.. Li Zaiming attended the verdict that day and said that he would appeal. (CCTV News)
The European Commission predicts that the German economy will shrink by 0.1% in 2024.
The European Commission released an assessment report on the 15th local time, predicting that the German economy will shrink slightly by 0.1% in 2024. The reasons are weak demand for industrial products, high uncertainty, labor shortage and high consumer savings rate. The report also predicts that the German economy will grow by 0.7% in 2025.
UNIFIL said that its headquarters in southern Lebanon was hit by shells and no one was injured.
On November 15th, local time, the United Nations Interim Force in Lebanon (UNIFIL) announced that a 155-mm caliber shell hit the UNIFIL headquarters in Shama village in southern Lebanon that afternoon. The shells did not explode, and no one was injured. At the time of the incident, the peacekeepers were all in the shelter.
NO.1 Anhui Dingyuan police informed that "the reporter’s interview was attacked": five illegal personnel were arrested in the project department of China Railway Seventh Bureau.
China Railway Seventh Bureau:On the evening of November 15th, the Public Security Bureau of Dingyuan County, Anhui Province informed that "the reporter’s interview was attacked": five illegal personnel from the project department of China Railway Seventh Bureau were arrested. At 15: 49 on November 14, 2024, our bureau 110 received an alarm, and an alarm occurred at the construction site of the project department of the China Railway Seventh Bureau of Hexin High-speed Railway. The police immediately rushed to the scene for disposal. After investigation: Wang Moumou and Cheng Moumou were robbed of their mobile phones by the relevant personnel of the project department and restricted their personal freedom, causing minor injuries to the root of Wang Moumou’s right palm. At present, five illegal personnel of the project department have been placed in administrative detention for 13 days, 13 days, 12 days, 10 days and 7 days respectively by the public security organs according to the Public Security Administration Punishment Law. In addition, China Railway Seventh Bureau Group Co., Ltd. issued a statement on the evening of November 15: Our company deeply apologized to the injured reporter and resolutely obeyed the decision of Dingyuan County Public Security Bureau to deal with five illegal personnel. After research, it was decided to dismiss Wang, the project division manager, Yang, the deputy manager, and Wu, the manager. Chen Mou, secretary and commander of the Party Working Committee of the Fourth Bid Section, and Qu Moumou, deputy secretary of the Party Working Committee, were dismissed on the spot. The company has started the internal accountability procedure and dealt with it seriously according to the law and regulations. The statement said that the company will deeply reflect on the exposed problems, draw inferences from others, resolutely put an end to such incidents and resolutely safeguard the legitimate rights and interests of journalists’ supervision by public opinion. I sincerely thank all sectors of society for their concern and supervision.
NO.2 Alibaba’s revenue in the second quarter was 236.50 billion yuan, a year-on-year increase of 5%
Alibaba (BABA, stock price: 88.571 USD, market value: 211.9 billion USD):On November 15th, Alibaba announced that its revenue in the second quarter was RMB 236.50 billion, a year-on-year increase of 5%. In addition, the financial report revealed that Alibaba continued to buy back shares, investing 4.1 billion US dollars to buy back 414 million common shares in this quarter, and the outstanding shares further decreased by 2.1% compared with the end of June.
Comments:Alibaba’s steady growth is expected to further consolidate its leading position in the industry.
NO.3 Tencent announced a new cadre rotation arrangement
Tencent Holdings (00700, stock price: HK$ 401.00, market value: HK$ 3,716.2 billion):The reporter was informed that on November 15, Tencent issued a document announcing a new cadre rotation arrangement: Zhang Xiaochao, the company’s vice president, was transferred from the basic products department of WeChat Business Group (WXG) to the head of the social platform and application line of Platform and Content Business Group (PCG); Yao Xiaoguang, the vice president, ended his three-and-a-half-year part-time job and continued to serve as the president of Tianmei Studio Group, an interactive entertainment group (IEG), and at the same time served as a social platform and application line consultant of PCG. After the rotation, Yao Xiaoguang will focus on leading Tianmei to accelerate the development of global business. Tencent insiders said that this is a normal cadre rotation. (CBN)
NO.4 Straight Flush: Zhejiang Straight Flush Shunyun Software Co., Ltd., a subsidiary, received a decision on administrative supervision measures.
Straight flush (300033, stock price: 272.50 yuan, market value: 146.4 billion yuan):On the evening of November 15th, the flush announced that its subsidiary Cloud Software Company had received the Decision on Administrative Supervision Measures from Zhejiang Supervision Bureau of China Securities Regulatory Commission. In cloud software company, marketers use some customer success stories, show customer praise screenshots, past performance of individual stocks, etc. for publicity and lack of risk warning; Some marketing and service personnel have exaggerated, misleading propaganda and promised income in disguise; Some investment advisers are not registered as securities investment advisers; During the promotion of live broadcast business, compliance control is not in place and there are situations such as suggesting to recommend individual stocks; As the main body of platform operation, cloud software company failed to fulfill its compliance management responsibility in the process of cooperating with securities companies to carry out investment consulting services; Compliance control is not in place in the process of cooperating with affiliated companies to carry out securities investment consulting business. Zhejiang Supervision Bureau decided to take administrative supervision and management measures to order cloud software company to make corrections and suspend new customers. The rectification and suspension period is 3 months. The rumor that the company "illegally recommended shares and was put on file for investigation" is inconsistent with the facts. The subsidiary cloud software company has the qualification of securities investment consulting, and the company and its subsidiaries are not under investigation.
Comments:This incident may affect investors’ trust in the company and market performance.
NO.5 will sell the equity of China Stainless Steel Joint Venture Company? Posco responded
Posco Steel:South Korea’s largest steel producer, Posco Steel, is considering adjusting the operation mode of China’s joint venture steel enterprise. On November 15th, Posco responded to the news of the sale of Posco (Zhangjiagang) Stainless Steel Co., Ltd. (hereinafter referred to as Posco Zhangjiagang), saying that from the perspective of restructuring the group’s business, Posco is studying various options related to Posco Zhangjiagang and is currently in the stage of selecting investment consultants. Posco did not make a clear response on whether it planned to sell the equity of Posco Zhangjiagang. The company said that it is considering doing business with global partners, including China enterprises. (Interface News)
Comments:Posco is the largest steel producer in Korea, and its joint venture company changes in equity in China may have an impact on the steel industry and market structure of China and South Korea.
NO.6 CITIC Jiantou: Criminals impersonate CITIC Jiantou securities analysts to carry out illegal securities activities.
CITIC Jiantou (601066, stock price: 28.30 yuan, market value: 219.5 billion yuan):On November 15th, WeChat official account issued a statement: Recently, some criminals carried out illegal securities activities in the name of Huang Wentao, Zhou Junzhi and Zhao Ran, analysts of CITIC Securities Research and Development Department. Criminals embezzle personal information of analysts (such as portrait photos) through online public information, make and publish posters of "CITIC Jiantou Gold Analyst", impersonate "CITIC Jiantou-Publisher" through skychat and other channels, publish false information in the established "CITIC Jiantou Brokers’ Overall Promotion Group", and carry out illegal securities activities by forging account service agreements, providing specific securities buying and selling suggestions for free, and promising to bear the loss of investment principal. The above illegal acts have nothing to do with CITIC Securities and analysts themselves. Any act of counterfeiting China Securities and its employees is suspected of illegal securities activities or fraud. CITIC Jiantou Securities reserves the right to pursue legal responsibilities against institutions and individuals that damage the company’s reputation and defraud investors.
Comments:The voice of CITIC Construction Investment is helpful to crack down on illegal securities activities and maintain the fairness and good operating environment of the market.
The parent company of NO.7 well-known social media platform was fined nearly 6 billion yuan by the European Union.
Meta Platforms(META, stock price: USD 554.08, market value: USD 1,398.8 billion):According to CCTV news, on November 14th, local time, the European Commission announced that it would impose a fine of 797 million euros (about 5.939 billion yuan) on Meta, the parent company of American social media Facebook, on the grounds that Meta abused its dominant market position and gained benefits for its trading platform. The European Commission issued a statement on the same day saying that Meta tied its online classified advertising service "Facebook Market" with its personal social media service, and imposed unfair trading conditions on other advertising service providers, which violated the EU’s anti-monopoly rules. The EU has conducted a long-term investigation on Meta’s behavior.
Comments:The EU’s fine action may have a certain impact on the company’s reputation and business strategy.
NO.8 Yu Chengdong: Zunjie will be released together with Mate70 before the end of November.
Huawei:Yu Chengdong, managing director of Huawei, chairman of BG, and chairman of BU, a smart car solution, said at the 2024 Guangzhou Auto Show on the 15th that Zunjie will be released together with Mate70 at the press conference before the end of November.
NO.9 Aouita and Weilai Energy reached a charging network cooperation
Aouita:On the 15th, Aouita Science and Technology and Weilai Energy jointly announced that they had formally reached a charging network cooperation. From now on, users in Aouita can find and use Weilai energy charging piles nationwide through Aouita App, further improving the charging experience and charging efficiency.
Comments:This cooperation will provide Aouita users with more convenient charging services, and at the same time strengthen Weilai’s dominant position in charging network construction.
NO.10 Huitian New Materials: Zhang Feng, the concerted action of the controlling shareholder of the company, received criminal judgment.
Huitian New Materials (300041, stock price: 9.07 yuan, market value: 5.074 billion yuan):On November 15th, Huitian New Materials announced that the company had recently received the first-instance criminal judgment issued by Hefei Intermediate People’s Court of Anhui Province, which was delivered by Zhang Feng, the concerted action person of the company’s controlling shareholder. Defendant Zhang Feng was convicted of manipulating the securities market, sentenced to eight years’ imprisonment, fined RMB 150 million, and confiscated his illegal income. Zhang Feng has not served as a director, supervisor or senior manager in the company since January 2022, and has not participated in the company’s operation and management. The above judgment is the personal behavior of shareholders, which will not affect the company’s business operation, and will not affect the company’s production and operation, current profits or future profits. This judgment is a first-instance judgment and has not yet taken effect. Zhang Feng said that he would appeal, and there are still uncertainties in the final judgment and subsequent implementation results. The company will pay attention to the follow-up of the case and fulfill its information disclosure obligations in a timely manner.
Comments:Although it is an individual act, it has a certain negative impact on the company’s image, and the company should fulfill its information disclosure obligations in time.
Data as of 4: 30 a.m. Beijing time.
Statement:The content and data in this article are for reference only and do not constitute investment advice.Investors operate accordingly at their own risk.
journalist| Fan Qianqian??edit|Lu Xiangyong, Wang Hanli, Wang Xiaobo Yiqijiang
Proofread |Liu Xiaoying
| national business daily ?nbdnews??Original article |
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