Category: Flash News

On January 17th, Haitong Securities announced that Guotai Junan plans to absorb and merge Haitong Securities by issuing A-shares to all A-share convertible shareholders of the company and H-shares to all H-share convertible shareholders of Haitong Securities, and raise matching funds by issuing A-shares. On January 17, 2025, the China Securities Regulatory Commission issued a reply approving the registration application of Guotai Junan to absorb and merge Haitong Securities by adding 5985871332 shares, approving the registration application of Guotai Junan to raise supporting funds of no more than 10 billion yuan by issuing shares, and approving the absorption and merger of Haitong Securities by Guotai Junan. After the merger is completed, Haitong Securities is dissolved in accordance with the law, and the original branch of Haitong Securities is changed to a branch of Guotai Junan. In addition, approval has been granted for Guotai Junan to become the major shareholder of Haifutong Fund Management Co., Ltd., Fuguo Fund Management Co., Ltd., and Haitong Futures Co., Ltd., as well as Shanghai International Group Co., Ltd. to become the actual controller of Haifutong Fund and Haitong Futures. The registration approval for Guotai Junan’s issuance of shares to absorb and merge with Haitong Securities and raise matching funds is valid for 12 months from the date of issuance.

On January 17th, the Beijing real estate market achieved a tail end in 2024, with 21556 second-hand houses sold through online signing in the last month, setting a new 21 month high; 5186 new commercial residential properties (excluding jointly owned property) were sold, a year-on-year increase of 6.7%, becoming the highest monthly transaction level of the year.

On January 17th, Henan Province, as one of the pilot provinces for the National Medical Insurance Bureau’s “Medical Insurance Wallet”, has fully launched the “Medical Insurance Wallet” throughout the province on January 15th. Medical insurance insured persons from all 19 pooling areas in the province can transfer funds for close relatives across provinces through the “Medical Insurance Wallet”. (Henan Daily)

On January 17th, Rio Tinto’s stock price fell by 1.8% in the Sydney market after reports that the world’s second-largest mining giant had preliminary discussions with Glencore regarding a potential merger. According to insiders, Rio Tinto and Glencore recently held talks. It is currently unclear whether negotiations are still ongoing.

On January 16th local time, SpaceX conducted its seventh test flight of its new generation heavy carrier rocket, the Starship. The live broadcast footage shows that shortly after takeoff, the second stage spacecraft of the rocket lost contact with the ground team.

On January 17th, the latest data from the Silicon Industry Branch of the China Nonferrous Metals Industry Association showed that silicon material prices continued to rise slightly this week, while silicon wafer prices stabilized after continuous increases. Caixin Securities stated that at the macro and industry levels, there is a growing consensus to prevent “involution style” homogeneous competition. The Photovoltaic Industry Association has launched a series of self regulatory actions, strengthening the momentum of controlling production capacity and stabilizing prices. The bottom characteristics of the photovoltaic industry cycle have emerged.

On January 17th, the Sudanese Ministry of Foreign Affairs issued a statement stating that the Sudanese government opposes and condemns the sanctions imposed by the United States on the Chairman of the Sudanese Sovereignty Council and Commander in Chief of the Armed Forces, Burhan, on that day. The statement said that the US sanctions decision is based on excuses that are irrelevant to reality and untenable, lacking fairness and objectivity, and is also a great contempt for the Sudanese people. The decision by the US government to sanction the leader of the Sudan Rapid Support Force and now impose sanctions on Burhan is a manifestation of chaos and a lack of justice.

On January 17th, the Nasdaq China Golden Dragon Index closed up 0.22%, with most popular Chinese concept stocks rising. Xiaopeng Motors rose over 6%, Kingsoft Cloud rose over 5%, NIO and Miniso rose over 1%, NetEase fell over 4%, and Baidu and Pinduoduo fell less than 1%.

On January 17th, Russian President Putin met with visiting Central African Republic President Tuvadra at the Kremlin. Both sides discussed bilateral cooperation in political, economic, trade, cultural and other fields, as well as important international and regional issues.

On January 17th, the United Nations Security Council adopted a presidential statement reaffirming its support for Lebanon. The statement emphasizes the firm support for Lebanon’s territorial integrity, sovereignty, and political independence in accordance with the principles and framework established by Resolution 1701, and expresses views on the recent important political developments in the country.