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Express News | The State Council issued the "Opinions on Strengthening Supervision, Preventing Risks, and Promoting the High-Quality Development of the Insurance Industry."
China Pacific Insurance responds to market hot topics at the mid-term earnings conference: continuously improving the contribution ratio of bancassurance, dividend-type products are expected to exceed 50% in the future, and asset allocation adheres to the
1. In the macro environment changes, Taibao is also shifting towards protection and dividend-type business; 2. In the long term, Taibao's dividend-type products are expected to account for more than 50%; 3. Will continue to increase the contribution ratio of silver insurance, focus on strategic cooperation with banks to promote a one-on-one global strategy.
A quick overview during trading hours: Hong Kong stocks opened low and rose higher, with banks, insurance, and telecommunication sectors rising. Tencent's decline narrowed to less than 1%.
Network technology stocks varied, SenseTime rose more than 4%, NetEase rose more than 3%, Xiaomi Group rose more than 1%; bilibili fell nearly 3%, Kuaishou fell nearly 2%, Alibaba fell more than 1%, Tencent fell 0.7%.
Mid-day Quick View: Hong Kong stock market is in a volatile consolidation phase, and the Hang Seng Index is up more than 1%; network technology stocks are rising, with Alibaba up more than 4%.
Insurance stocks rose across the board, with AIA up more than 2%, Ping An Insurance and China Life Insurance up more than 1%; most lithium battery sectors were weak, with Ganfeng Lithium Corporation falling more than 5% and Tianqi Lithium Corporation falling nearly 4%.
Midday Review | The gains of the three major Hong Kong stock indices narrowed, and the technology index rose by about 1.3%; Network technology stocks rose, and Baidu Group rose nearly 11%.
Auto stocks performed well, with Evergr Vehicle rising by over 7% and Great Wall Motor rising by nearly 5%; insurance stocks rose across the board, with China Life Insurance, China Taiping, and Ping An Insurance all rising by over 2%.
Listed insurance companies are accelerating the follow-up of interim dividends. China Pacific Insurance, China Life Insurance announced on the same day, the five major A-share insurance companies have only China Taiping Insurance not yet stated.
① China People's Insurance and China Life Insurance announced on the same day that they plan to implement an interim dividend in 2024; the China Life Insurance disclosure related bill has been reviewed and approved by the company's board of directors. ② Up to now, Xinhua Insurance, China Insurance, China Life Insurance, and China Ping An have all planned to implement “multiple dividends in a year”. Only the five major A-share insurers have yet to make a statement.
Mid-day overview: All three major indexes rose by over 1%, with network technology stocks, autos, and mainland China banking stocks up. Bilibili rose over 10%.
Network technology stocks rose, SenseTime rose more than 7%, Xiaomi Group rose more than 3%, Netease, Tencent, Alibaba, and jd.com all rose more than 1%.
Can banks actually benefit from the “four arrows going hand in hand” in real estate finance? Industry: Both people, real estate, and money are involved, and the impact on asset quality is better than pricing
Xiao Feifei, chief banking analyst at CITIC Securities, believes that in terms of current real estate finance logic, quality is more important than pricing.
Intraday Overview | Hong Kong stock trends diverge, high dividend concept carnival; domestic housing stocks skyrocketed, Shimao Group rose more than 50%
The Hong Kong Stock Exchange rose more than 6%. Reports say Hong Kong Stock Connect's dividend tax may be reduced, and the listing of Saudi companies in Hong Kong is just around the corner.
What hurt the Tianqi lithium industry's “thunderstorm” the most was insurance capital? China's Taibao lost more than 60% of its holdings after listing, and insurance capital generally lost money on the books in the past two years
① Tianqi Lithium's financial report for the first quarter caused the company's stock price to fall to a halt today, and Hong Kong stocks fell by more than 19%; ② China Taibao and its holding subsidiaries listed Tianqi Lithium lost more than 60%; ③ data shows that insurance companies have generally faced book losses in the past two years. A number of insurance companies put up their licenses to buy at a phased high point.
The premium for the 2024 edition of the Shanghai Huibao upgrade is still 129 yuan, with a cumulative total of more than 20 million insured applications over 3 years, and the compensation amount exceeds 1.6 billion yuan
① The premium for the 2024 version of Shanghai Insurance is still 129 yuan/year, and the guarantee liability has been “extended, one superior, and one increase”; ② Insured persons can use their personal account balance over the past year to enroll in the insurance for up to 6 immediate family members; ③ By the end of March 2024, the total number of Shanghai Huihui Insurance cases had been completed over 650,000 in 3 years, and the cumulative compensation amount exceeded 1.6 billion yuan;
There have been structural changes in the market! What happened to the weakening of Hong Kong real estate stocks and insurance stocks?
Analysts believe that the rise in crude oil and gold reflects the geographical situation. The market anticipates that Iran may launch an attack on Israel this weekend; if China's treasury bonds rise sharply, MLF interest rates may be lowered next Monday; while in the equity market, the most reassuring currently is still Vanke. The insurance sector, which has a high correlation between underlying assets and real estate, is also being impacted as a result.
Demand from overseas markets has increased dramatically, and PV module production schedules may be drastically improved in March
In the past week (February 15 to February 21), there was a particularly significant rebound in module-side production schedules in the PV industry chain. With the execution of early orders and the prosperity of overseas markets, demand for terminals may increase dramatically. The module production schedule is expected to rise to more than 50 GW in March, ushering in a major turning point.
Three good news have come out! China's assets have risen across the board, and the Hong Kong and A-share financial sectors have exploded
The performance of financial assets and real estate stocks may indicate that the market is anticipating the beginning of a new cycle.
How did Jin Feng and Ming Yang, the “kings of wind power” in the past, break through? Market share is falling, valuation is breaking, and the model is getting farther and farther away, and the pursuit of the army is approaching!
① In the past 2023, Lufeng King Goldwind Technology and Haifeng Wang Mingyang Smart's share of winning bids declined in the TOP5, and their stock prices also fell below their net assets. ② Investing in a zero-carbon industrial park, launching a smart energy solution integrating “wind, solar, hydrogen storage and combustion”, and further increasing their efforts to go overseas is a game-breaker for Goldwind and Mingyang. The results are yet to be seen.
“None of the three major businesses can play”? Mingyang Intelligence tasted “bitter fruit” within the industry, and huge Q4 losses dragged down annual results
① The three main businesses of landwind, sea wind, and wind farms all experienced twists and turns, and Mingyang Smart's 2023 Q4 performance lost a lot; ② At the beginning of last year, Mingyang Intelligence proposed to deliver 14 GW for the whole year. Judging from now on, the actual delivery last year may be far from this target.
“Fu Chao Pai” was approved! China Taibao's new management has been settled. It's only been a month and a half according to the board's resolution. Where will it go in the future?
① This time, the qualifications of the chairman and president of China Taibao were approved on the same day. Only a month and a half has passed since the relevant bill was passed. ② During his previous tenure as the president of China Group, Fu Fan gradually achieved comprehensive management of the main insurance business, asset management, regional strategy, and ESG strategy. ③ Zhao Yonggang, who was approved as president, worked for Taibao in China for 26 years, and returned to Taibao in China after leaving Haitong Securities for two years.
In 2023, the concentration of wind turbines will increase, and the TOP5 will account for nearly 80%, and land wind capacity will enter the double-digit era
The wind power market won the bid in 2023 and reached a new high. According to incomplete statistics from Fengmang Energy, the OEM won a total of 697 bids in 2023 for a total of 106.9 GW fan purchases (including international projects, excluding frame construction), an increase of about 20% over the previous year. Beginning in the second half of last year, many companies won orders from Lufeng for 10MW models, and the stand-alone capacity of onshore models entered the double-digit era.
Land wind prices declined, Mingyang Smart's gross margin plummeted, delivery pressure was high in the fourth quarter | Direct impact on the performance meeting
① Affected by the decline in fan prices and the decline in the scale of offshore fan delivery, Mingyang Intelligent's fan product gross profit and the company's overall net profit declined sharply in the third quarter of 2023. The company's chairman expressed efforts to restore product profitability. ② According to the company's previous conference call performance guidelines, the company was under great pressure to deliver in the fourth quarter.
The world's leading fund added Hong Kong stocks in Q3. How can it seize the market with smart money?
The new heavy stock holdings were mainly focused on education and hardware; software and photovoltaics were transferred out.