Category: Flash News

On February 13th, the demand for securities firms to issue bonds to “replenish blood” continues to slow down. On February 12th, Great Wall Securities announced the results of the second phase of short-term financing bonds issued in 2025, with a coupon rate of 1.80% for the 1 billion yuan short-term financing bonds. Compared to previous years when interest rates were often above 3%, the cost of securities firms issuing bonds for financing has significantly decreased. However, the cost reduction did not trigger securities firms to issue bonds one after another. Journalists have found that since 2025, the scale of securities firms issuing bonds for financing has been shrinking. As of February 12th, only three securities firms have obtained wholesale bonds, with a total scale that has decreased by over 50% year-on-year; In terms of issued bonds, 29 securities firms issued a total of 80.7 billion yuan in domestic bonds, a year-on-year decrease of 24%. A non bank analyst from a securities firm told reporters that from the perspective of business development and risk control indicators, the demand for securities firms to supplement capital is not strong. Moreover, the cost of funds on the exchange continues to decrease, and issuing bonds is not the most cost-effective financing method. (Securities Times)

On February 13th, multiple AI technology stocks are expected to perform well, and the logic of fund heavy holdings is gradually receiving fundamental support. Recently, several AI concept stocks released their 2024 performance reports, with SMIC’s revenue reaching 57.796 billion yuan, a significant increase year-on-year. The net profit attributable to the parent company of Xindong Lianke increased by 33.25% year-on-year, while the net profit attributable to the parent company of Oat Technology increased by 62.36% year-on-year. Most of these stocks are core holdings of numerous funds, which to some extent alleviates market concerns about the valuation and fundamentals of technology stocks. Several fund managers have recently stated that the AI industry is shifting from event driven thematic investments to performance driven fundamental investments, with a gradual differentiation at the individual stock level. In the future, bottom-up stock selection needs to place more emphasis on performance support and fundamental realization. (Securities Times)

On February 13th, since the beginning of the year, the activity of the A-share market has significantly improved, providing a good soil for quantitative investment. At the beginning of 2024, the liquidity risk of micro cap stocks triggered a significant pullback in quantitative products, and many public active quantitative funds experienced their largest historical pullback. After timely adjustment of strategies by fund managers and driven by the market rebound at the end of September 2024, most public actively quantified funds gradually repaired their net asset value curves. According to Wind data, multiple public active quantitative funds, including Boshi Smart Selection Quantitative Multi Factor Fund, Boshi ESG Quantitative Stock Selection Fund, China Merchants Quantitative Selection Fund, and Shenwanlingxin Intelligent Life Quantitative Stock Selection Fund, have recently reached a new high in net value since their establishment. It is worth noting that in this round of public offering quantitative performance market, many funds have made significant contributions to fund returns by allocating to growth sectors. In fact, after experiencing fluctuations in early 2024, public quantitative thematic funds have gradually abandoned small and micro cap strategies and turned to fundamental investments. According to institutional research, in terms of active quantitative funds, as of the end of last year, the allocation weight of small and micro cap funds has fallen from the previous high of 32.3%, while the allocation weight of growth funds has increased by more than 10% compared to the beginning of the year. (Securities Times)

On February 13th, the foreign ministers of France and Senegal issued a joint communiqu é announcing their decision to establish a joint committee on the withdrawal of French troops from Senegal. According to the communiqu é, the Joint Commission will be responsible for the withdrawal of French troops from Senegal by the end of this year and the return of bases to the Senegalese side. The two countries are willing to carry out new defense and security cooperation based on considering the strategic priorities of all parties.

On February 13th, “I do believe” that equivalent tariffs will be announced before Indian Prime Minister Modi’s visit tomorrow, White House Press Secretary Karoline Leavitt said at a press conference. Leavitt said she would leave the opportunity to discuss the details of a reciprocal tariff system to President Trump.

On February 13th, the minutes of the January monetary policy meeting released by the Bank of Canada showed that the management committee unanimously believed that the ongoing trade conflict with the United States would permanently reduce Canada’s gross domestic product level. In this situation, Canada’s gross domestic product (GDP) growth will be suppressed until the economy adapts to tariff policies. A 25 basis point interest rate cut will help support economic growth and better balance inflation risks. The increased uncertainty brought about by the threat of US tariffs also supports the reason for interest rate cuts.

On February 13th, UAE President Mohammed had a phone call with US Secretary of State Rubio. During the call, both sides discussed ways to strengthen cooperation in various fields within the framework of the strategic relationship between the two countries. The call also involves regions of common concern and international developments, especially the latest developments in the situation in the Middle East. Mohammed emphasized that it is crucial to strive for a just and comprehensive peace in the region based on the “two-state solution” and ensure the safety and stability of all people.

On February 12th, Meituan announced a new development on February 11th, stating that it had started observing and experimenting with the “cancellation of crowdsourcing rider overtime deductions” in some cities in East China since December last year. During this period, local crowdsourcing riders’ overtime situations can be exempted from liability. The results showed that in scenarios such as holidays and long-distance orders, there were relatively more instances of order timeouts, which had a certain impact on the experience of some consumers. Meanwhile, in the observation area, the timeout rate of new riders is significantly higher than that of old riders. Meituan has stated that it has made internal rule improvements based on the results of this discussion, and specific plans will be announced to the public in the near future.

On February 12, the national supercomputing Internet platform announced the launch of the “AI Ecological Partner Acceleration Plan” on the evening of February 11, providing three months of free use of DeepSeek API interface, 10 million card hourly computing resource pool and other incentives. It is reported that the supercomputing Internet platform has launched the full blood version of DeepSeek model image, and opened the DeepSeek API interface for enterprises in need for three months for free.

On February 12th, the number of injuries caused by a car explosion near an airport in Texas, USA, rose to 5 local time on the 11th. Earlier that day, a car exploded and sparked a fire near El Paso International Airport in Texas, USA. Officials from the US Department of Transportation stated that personnel have been evacuated from the area near El Paso Airport. Local officials stated that the operation of El Paso International Airport has not been affected.