Category: Flash News

On March 27th, with the full implementation of the new delisting regulations this year, listed companies that violate major information disclosure laws or engage in financial fraud will immediately face delisting risk warnings, especially after being dealt with by * ST, their delisting risks will significantly increase. According to Wind data, as of March 26th, 22 listed companies have issued relevant notices of delisting risk warnings for stock trading during the year, which is a significant increase compared to the same period last year with 3 companies.

On March 27th, minutes from the Bank of Canada meeting showed that without the threat of tariffs and increased uncertainty, interest rates may remain unchanged at 3%. Some members suggest keeping interest rates unchanged until the impact of tariffs is unclear; Other members believe that the threat and uncertainty of tariffs are enough to change the outlook, so it is worth cutting interest rates.

On March 26th, CR Vanguard announced on the Hong Kong Stock Exchange that its annual revenue for the year ended December 31, 2024 was RMB 17.043 billion, a year-on-year increase of 15.4%; The profit attributable to the company’s shareholders was RMB 3.629 billion, a year-on-year increase of 23.9%. The board of directors recommends declaring a final dividend of RMB 0.643 per share for the year ended December 31, 2024, and a special dividend of RMB 0.614 per share for the year ended December 31, 2024.

On March 26th, according to a research report by CITIC Securities, the AI industry chain is facing a turning point from performance to market share, and from technological value to commercial value. Currently, both hardware and software in the AI industry chain are resonating at the same frequency, showing an accelerating trend. It is recommended to pay attention to the continuous changes in the AI industry: 1. Continuously support the development of the underlying computing power industry chain with capital from many large companies. a) The demand for AIDC as the underlying foundation of the AI industry chain continues; b) Autonomous and controllable computing power chips are imperative; c) The increasing demand for model privatization is beneficial for all-in-one, hyper converged, and B2B service outsourcing enterprises. 2. Beneficial for B-end and C-end software enterprises with sufficient industry knowledge and data accumulation, sufficient customers, and specific application scenarios. a) The logic of OA+ERP becoming the entrance for B-end agents remains unchanged; b) Pay attention to the implementation of AI in vertical scenarios such as B-end general, government, finance, energy, industry, and marketing; c) Good news for 2C companies with accumulated users and products; 3. We are optimistic about the construction of supporting infrastructure for the AI industry chain and suggest paying attention to data processing and big model security vendors.

On March 26th, Huatai Securities Research reported that recently, as pan technology assets enter a catalytic gap period, investors have begun to look for sectors with potential to undertake, and some pan consumer industries may be one of the potential destinations for adjusting positions. Firstly, promoting consumption is the policy focus for 2025, with specific measures being introduced one after another and the focus becoming increasingly clear. Secondly, in the short term, high-frequency data and corporate profit expectations indicate that the overall consumer fundamentals are improving in a point by point manner. In the medium term, positive signals such as stable employment, expanded social security expenditures, and bottoming out of housing prices are gradually emerging, and income and consumption tendencies are gradually improving. Thirdly, the valuation cost-effectiveness of some pan consumer products is relatively high, and there is also potential for foreign investment to increase allocation. In terms of specific industries, Huatai Securities has selected directions with resilient fundamentals, high valuation cost-effectiveness, and policy catalysis. It is recommended to pay attention to A-share white goods, aviation, and consumer electronics leaders, while Hong Kong stocks can choose retail, beauty insurance, and automotive.

On March 26th, private equity institutions have actively allocated ETFs (exchange traded open-end index funds) since the beginning of this year. According to the latest data released by Private Equity Ranking Network, as of March 24th, a total of 57 private equity institutions have appeared in the top ten fund share holders list of 46 ETFs listed this year, holding a total of 899 million fund shares. In the eyes of industry insiders, ETFs have characteristics such as high liquidity, risk diversification, and convenient trading, which can help private equity institutions flexibly adjust their investment portfolios and better respond to market changes. Small and medium-sized private equity institutions are more actively laying out ETFs. 17 medium-sized private equity institutions with management scales between 1 billion yuan and 5 billion yuan hold a total of 479 million ETF shares listed within the year, accounting for over 50% of the total shares held by private equity institutions. 32 private equity institutions with a management scale of no more than 1 billion yuan hold a total of 306 million shares of ETFs listed this year, accounting for over 30%.

On March 26th, with the disclosure of the 2024 annual reports of listed companies, the shareholding trends of various institutions have emerged. As of March 25th, data shows that Qualified Foreign Institutional Investors (QFII) held 40 A-shares at the end of 2024. From the perspective of configuration, industries such as chemical and electronics have become the core configurations of QFII. Several foreign institutional figures have stated that with the sustained recovery of the Chinese economy and further policy support, the performance of listed companies is expected to continue to improve. Against the backdrop of continuous improvement in corporate governance and performance, the long-term investment opportunities in the A-share market are worth paying attention to.

On March 26th, several bank wealth management subsidiaries recently announced the reduction of multiple fees for their wealth management products. After sorting, it was found that since March this year, several wealth management subsidiaries such as China Post Wealth Management, Bank of China Wealth Management, Everbright Wealth Management, and Bohai Wealth Management have announced fee optimization adjustments for multiple of their wealth management products. After adjustment, the management fee rate for multiple wealth management products has been reduced to 0%. In the eyes of industry insiders, this intensive fee reduction is mainly due to the recent pressure on the returns of wealth management products. In the long run, bank wealth management institutions still need to enhance their comprehensive capabilities to bring tangible investment returns to customers.

On March 26th, titanium dioxide concept stocks have collectively risen since March, with an average increase of 10.01%. On the news front, recently, there has been a wave of price increases in the titanium dioxide industry. In recent years, the production capacity of China’s titanium dioxide industry has continued to expand. According to incomplete statistics, at least 5 titanium dioxide projects are planned to be put into operation by 2025, with an expected increase in production of 1.3 million tons. By then, China’s total titanium dioxide production capacity will reach over 7 million tons per year. From the demand side, thanks to the global economic recovery and continuous repair of the infrastructure industry, the demand for titanium dioxide has been steadily increasing. In addition, demand in high-end fields such as new energy vehicles and photovoltaic coatings has also contributed to a certain increase. Dongxing Securities research report believes that titanium dioxide belongs to the post real estate cycle variety, and the current industry profitability is at a relatively low level. With the continuous efforts of domestic macroeconomic policies, the overall demand side is expected to improve, the demand for titanium dioxide is expected to be boosted, and the industry’s medium and long-term profitability is expected to rebound.