Weekly Market Review | Domestic ice and snow scenic spots reservations in November increased by 30% year-on-year; Sanhua Intelligent Controls intends to terminate the issuance of GDR; Industry insiders discuss the new round of merger and acquisition and reorganization boom.
01 Weekly Market Review
A-Shares
This week (November 4th to 8th), the A-share market rose strongly. The Shanghai Composite Index increased by 5.51% within the week and closed at 3452 points on November 8. The Wind All A Index had a greater increase, surging by 7.11% this week.
In terms of sectors, all 31 first-level industries in Shenwan rose this week. Among them, the computer, military industry, non-bank financial, and commercial retail sectors led the gains, with weekly increases of more than 10% in these four sectors. The banking, public utilities, coal, and home appliance sectors had smaller gains this week.
Hong Kong Stocks
The Hong Kong stock market fluctuated sideways this week. The Hang Seng Index rose by 1.08% within the week, and the Hang Seng TECH Index increased by 4.11% this week.
In terms of sectors, among the 12 Hang Seng industry indices, 9 industry sectors rose this week. The consumer staples, healthcare, consumer discretionary, and finance sectors led the gains. The energy, telecommunications, and public utilities sectors declined this week.
US Stocks
In the US stock market, all three major indices rose this week. In terms of Chinese stocks, the consumer durables and apparel, insurance, and technology hardware and equipment sectors led the gains.
Weekly Positive News
Since the policy to support the home appliance trade-in and renewal program was strengthened, home appliance production and circulation enterprises have seized important nodes such as the "Golden September and Silver October", "Double Eleven", and the "Quality Consumption Month", combined with preferential benefits, and the policy effect has further emerged. According to the national home appliance trade-in and renewal data platform of the Ministry of Commerce, as of 24:00 on November 8, 20.257 million consumers have purchased 30.458 million units of 8 types of home appliance products, driving sales of 137.79 billion yuan. (CCTV News)
Tangrenshen: Hog sales revenue increased by 58.46% year-on-year in October
36Kr learned that Tangrenshen issued an announcement that in October, the hog sales volume was 497,400 heads, an increase of 29.5% year-on-year and 55.34% month-on-month. The total sales revenue was 1.009 billion yuan, an increase of 58.46% year-on-year and 51.16% month-on-month.
36Kr learned that Poly Developments announced that in October 2024, the company achieved a contracted area of 2.2259 million square meters, an increase of 23.98% year-on-year. The contracted amount was 42.337 billion yuan, an increase of 27.85% year-on-year. From January to October 2024, the company achieved a contracted area of 15.7221 million square meters, a decrease of 25.07% year-on-year. The contracted amount was 284.023 billion yuan, a decrease of 22.88% year-on-year.
Zhiguang Electric: Won a 91.3604 million yuan procurement project from the State Grid
36Kr learned that Zhiguang Electric announced that recently, the company's subsidiary, Guangzhou Lingnan Cable Co., Ltd., won the bid for Package 17 and Package 31 of the power cable in the 72nd batch of procurement by the State Grid, and won the bid for Package 25 of the public bidding and procurement project for the third batch of distribution network materials and equipment agreements of the State Grid Shanxi Electric Power Company. The total winning amount is 91.3604 million yuan.
36Kr learned that as the Beginning of Winter approaches, many ski resorts in the northern region are about to open for the snow season, and the popularity of the ice and snow economy continues to rise. Data from the Qunar platform shows that since November, the reservation volume of national ice and snow-related scenic spots on the Qunar platform has increased by 30% compared to the same period last year. The search popularity for "skiing", "ice and snow", and "ski resorts" has increased by three times compared to last week. In terms of hotel reservation growth rate, the reservation volume of hotels in Harbin has increased by more than 50% compared to last year, driving the reservation volume in the province's Daxing'anling to increase by 140%, Yichun by 52%, and Qiqihar by 45%. In terms of air ticket reservation, the reservation growth rates in Mohe, Qiqihar, Yichun, and Jiamusi have exceeded 40%.
Ferrari: Revenue in the third quarter was 1.64 billion euros, an increase of 6.5% year-on-year
Ferrari's revenue in the third quarter was 1.64 billion euros, an increase of 6.5% year-on-year. The adjusted earnings before interest, taxes, depreciation, and amortization was 638 million euros, an increase of 7.1% compared to the same period last year. The total shipments in the third quarter were 3,383 units, a decrease of 2.2% compared to the same period last year. The product portfolio for this quarter included eight internal combustion engine (ICE) models and five hybrid engine models, accounting for 45% and 55% of the total shipments, respectively. (Cailian Press)
Jereh: The subsidiary received a project award letter of 920 million US dollars
36Kr learned that Jereh announced that the company's wholly-owned subsidiary, Jereh Oil & Gas Engineering, received a project award letter from ADNOC Onshore for the EPC project of the wellsite digital transformation in the Bab, Bu Hasa, and South East blocks. The estimated total amount of the award letter is 920 million US dollars (approximately 6.555 billion yuan). The project mainly involves the intelligent transformation and digital construction of each old wellsite, aiming to improve the production efficiency of the oilfield, enhance production safety, and realize the transformation of the oilfield from the traditional manual inspection to the unmanned and digital wellsite. The total project duration is expected to be 42 months, and the implementation method is a combination of fixed-amount orders and on-demand delivery orders.
Horizon Robotics won the "Best Partner Award" from BYD
36Kr learned that on November 2, BYD held the 2024 BYD New Energy Vehicle Core Supplier Conference. At the conference, Horizon Robotics won the "Best Partner Award" and became the only intelligent driving solution provider to receive this honor. It is understood that in April this year, Horizon Robotics officially released the Journey 6 series computing solution. Currently, Journey 6 has obtained a platform-based fixed-point from BYD and will be mass-produced and landed in several popular models of BYD in 2025, creating useful mid-to-high-level intelligent driving functions and helping BYD promote the comprehensive penetration and popularization of mid-to-high-level intelligent driving.
Shuangliang Energy Saving: Signed an 87 million US dollar overseas daily operation contract
36Kr learned that Shuangliang Energy Saving announced that the company recently signed the "Equipment Supply Contract" with Karaganda Energocenter LLP. The contract amount is 87 million US dollars, and the delivery period is 39 months from the start date. The contract will gradually confirm the income according to the supply progress. It is expected to account for approximately 2.67% of the company's audited operating income in 2023. If the contract is successfully fulfilled, it will have a certain positive impact on the company's performance this year and in the future.
36Kr learned that Lukang Pharmaceutical announced that recently, the company's holding subsidiary, Shandong Lukang Pharmaceutical Group Saite Co., Ltd., received the "Drug Supplementary Application Approval Notice" issued by the National Medical Products Administration for the Haloperidol Injection passing the consistency evaluation of quality and efficacy of generic drugs. Since the start of the consistency evaluation work for this drug, Saite Company has accumulated a research and development investment of approximately 4.7195 million yuan (unaudited).
Fosun Pharma: The holding subsidiary's drug registration application has been accepted
36Kr learned that Fosun Pharma announced that the drug registration applications for Levofloxacin Injection (New Drug 1) of its holding subsidiary, Chongqing Yaoyou Pharmaceutical Co., Ltd., and Cytarabine Injection (New Drug 2) of its holding subsidiary, Gisney (Wuhan) Pharmaceutical Co., Ltd., have been accepted by the National Medical Products Administration. Both New Drug 1 and New Drug 2 are chemical drugs independently developed by the company. New Drug 1 is intended to treat a variety of bacterial infections, and New Drug 2 is intended to treat diseases such as acute myeloid leukemia. As of September 2024, the company's cumulative research and development investment for New Drug 1 and New Drug 2 is approximately 1.33 million yuan and 2.57 million yuan, respectively.
Weekly Negative News
ChatGPT experienced a large-scale disruption, affecting some users
It is reported that on November 9, OpenAI stated that it has noticed the problem that caused users to temporarily be unable to access ChatGPT and is investigating and working to restore the function as soon as possible. The tracking website Downdetector.com said that as of 7:13 PM Eastern Time in the United States, more than 19,403 users have been affected. The company's latest response stated that most users should have seen the access to ChatGPT restored. (Jiemian)
ST Bailing: Filed by the CSRC for suspected illegal and irregular information disclosure
36Kr learned that ST Bailing issued an announcement that the company received the "Case Filing Notice" issued by the China Securities Regulatory Commission on November 8. Due to the company's suspected illegal and irregular information disclosure, the CSRC has decided to file a case against the company.
Canada Goose's second-quarter revenue decreased by 5% year-on-year
On November 7 local time, Canada Goose (Canada Goose) released its financial results for the second quarter of fiscal year 2025: Total revenue decreased by 5% year-on-year to 267.8 million US dollars, a 6% decrease in constant currency. Gross profit decreased by 9% to 164.1 million US dollars, with a gross margin of 61.3%, compared to 63.9% in the same period last year. Operating profit was 1.6 million US dollars, compared to 2.3 million US dollars in the same period last year. Net income attributable to shareholders was 5.4 million US dollars, compared to 3.9 million US dollars in the same period last year. (Jiemian)
China Bester: Received a warning letter from the Hubei Securities Regulatory Bureau
36Kr learned that China Bester announced that it recently received a warning letter from the Hubei Securities Regulatory Bureau. After investigation, the company's two computing power service contracts were not fulfilled and were planned to be terminated, and the follow-up progress was not disclosed until the 2024 semi-annual report. The company violated the "Measures for the Administration of Information Disclosure of Listed Companies". Li Liubing, the then chairman and general manager of the company, and Lu Nianqing, the then board secretary, did not fulfill their due diligence obligations as required, and are mainly responsible for the above facts of the company. The Hubei Securities Regulatory Bureau decided to take administrative regulatory measures of issuing a warning letter to the company, Li Liubing, and Lu Nianqing, and record them in the integrity file of the securities and futures market. China Bester stated that except for the computing power service contracts that have been terminated as mentioned above, all other computing power service contracts that the company has announced have been delivered and the contracts are being performed normally.
Apple was fined by a Russian court for failing to delete prohibited content
According to RIA Novosti on November 5, the Tagansky Court in Moscow, Russia, said that Apple was fined 3.6 million rubles for refusing to delete prohibited content. (Jiemian)
Netflix's French office was searched in a tax case
According to Bloomberg, French justice ministry officials said that French prosecutors searched Netflix's office in France on November 5 as part of an investigation into alleged tax crimes and undeclared labor in 2022. Dutch and French authorities also conducted searches at Netflix's Amsterdam office. (Jiemian)
36Kr learned that *ST Pengbo announced that the company received a notice from the creditor, Haizhiying (Guangzhou) Commercial Factoring Co., Ltd. Haizhiying, on the grounds that the company is unable to repay the due debts and is obviously lacking in solvency, but has reorganization value, has applied to the Qingdao Intermediate Court for the company's pre-reorganization. Up to now, the company has not received the court's acceptance documents for the pre-reorganization. Whether the applicant's application can be accepted by the court and whether