Category: Flash News

On January 26th, according to the official WeChat account of the “Self Regulatory Mechanism for the Foreign Exchange Market”, the Global Foreign Exchange Committee (GFXC) recently completed the second round of review of the “Global Foreign Exchange Market Guidelines” (Global Guidelines) and released a new version of the Global Guidelines (December 2024 version). The new version of the global guidelines focuses on foreign exchange settlement risks and the use of foreign exchange market data, and updates relevant good practice principles. GFXC has also updated the Disclosure Cover Sheet for liquidity providers and forex electronic trading platforms simultaneously. In addition to the new version of the global standards, the documents released by GFXC also include: firstly, a summary document of the results of the global standard re inspection, including the specific revision content and reasons for the revision of the global standards, as well as GFXC’s guidance on the re inspection and update of commitment statements; The second is the feedback received from market participants during the public opinion solicitation in October 2024.

On January 26th, at a national forestry and grassland work video conference, the National Forestry and Grassland Administration stated that the next step will be to introduce the “Three North Project Overall Plan (Revised)” and the “Three North Desert Gobi Desert Photovoltaic Desertification Control Plan”, and create a number of landmark demonstration projects such as joint prevention and control, and systematic governance. Scientifically carry out the national land greening action, and formulate and issue the “National Land Greening Space Plan” and the “Regulations on Project Operation Design and Landing Map Management”.

On January 26th, Suzhou Longjie announced that it is expected to achieve a net profit attributable to the company’s shareholders of RMB 51 million to RMB 62 million in 2024, an increase of 254.69% to 331.19% year-on-year. The main reason is the impact on the main business, with steady growth in downstream demand in 2024. The company’s production and sales volume and price differences have expanded, and new product expansion continues to improve, further enhancing profitability.

On the 26th of the Science and Technology Innovation Board Daily, PuRan Corporation announced that it expects to achieve a net profit attributable to the owners of the parent company of approximately 270 million yuan in 2024, an increase of about 318 million yuan compared to the same period last year, and achieve a turnaround from losses to profits. In terms of product line, the company is based on the strategy of “storage” and “storage+” in parallel. The original storage product line continues to improve the layout of the entire product series and the leading process performance. It attaches great importance to the expansion opportunities of mid to high end industrial control and vehicle customers, as well as the incremental opportunities in new fields, laying a product foundation for effectively expanding market share; The MCU products and VCMDriver products under the “Storage+” product line quickly established brand awareness and achieved sustained and rapid development.

On January 26th, Shenzhen Airport announced that the company has signed an agreement with Huaxia Bank Shenzhen Branch to purchase investment and wealth management products, and will subscribe to investment and wealth management products with its own funds of 1 billion yuan. The product type is structured deposit, with a total investment of 1 billion yuan and an interest rate of 0.85%, 2.42%, or 2.68% (annualized). The starting date for income is January 24, 2025, and the product maturity date is July 28, 2025.

On January 26th, Tanaka Precision Machinery announced that the sixth meeting of the fifth board of directors will be held on January 26th, 2025, and the proposal to approve the application for bankruptcy liquidation of its controlling subsidiary, Shenzhen Youfu Intelligent Equipment Co., Ltd. (Youfu Intelligent), has been approved. Yufu Intelligent is unable to repay its maturing debts, and all assets are insufficient to pay off all debts. The board of directors of the company agrees to allow Youfu Intelligent to apply for bankruptcy liquidation to the court.

On January 26, Yu Garden shares announced that the board of directors of the company received a letter of proposal from Huang Zhen, the chairman of the board, proposing to implement the special dividend plan for 2024. This plan is based on the after tax income from the sale of equity in Shin Yuki Co., Ltd. by the company’s wholly-owned subsidiary Yuhai, with an expected total dividend of no less than 750 million yuan. The specific profit distribution plan will be determined by the company based on its own business situation and submitted to the board of directors and shareholders’ meeting for review and approval.

On January 26th, Tongkun Corporation announced that it expects to achieve a net profit attributable to shareholders of the listed company of 1.12 billion yuan to 1.27 billion yuan in 2024, a year-on-year increase of 40.52% to 59.34%. In 2024, with the continuous implementation of stable growth policies in China, on the one hand, the polyester filament industry has relatively little new production capacity, and downstream demand for stretch weaving and other services is growing rapidly, further improving the supply and demand pattern and helping to enhance the profit margin of polyester filament products; On the other hand, Zhejiang Petrochemical, in which the company holds shares, relies on global large-scale integrated refining and chemical facilities to continuously optimize equipment performance, tap potential and increase efficiency. The chemical product line continues to extend, with increasingly diverse varieties and improved gross margins for some chemical products.

On January 26th, Weiwei Corporation announced that it expects to achieve a net profit attributable to the owners of the parent company of RMB 380 million to RMB 480 million in 2024, an increase of 81.39% to 129.13% year-on-year. The main reasons for the expected increase in performance include the decrease in the prices of major raw materials leading to an increase in product gross profit, an increase in asset disposal income, and a decrease in credit impairment losses.

On January 26th, US President Trump stated on social media that many Israeli orders and payments, but things that the Biden administration has not yet sent, are now on their way. Trump did not mention the specific content of Israel’s order. Earlier that day, it was reported that the White House instructed the US Department of Defense to lift restrictions on supplying 2000 pounds (approximately 907 kilograms) of bombs to Israel. An Israeli official stated that the Israeli government received notification from the US Department of Defense on the 24th that 1800 MK-84 bombs (each weighing 2000 pounds) from the US will be loaded onto ships and transported to Israel in the coming days.