Important News Tips
The Hong Kong Stock Exchange will implement severe weather trading starting from September 23rd
The first fully automated fishery terminal in the country has been officially put into use
Is it rumored that a Xiaomi SU7 was smoking in an accident? Xiaomi Auto responds
Financial News
The China International Fair for Trade in Services (CIFTIS) concluded on the 16th of 2024 in Beijing. Park Xuedong, Director of the Beijing Municipal Bureau of Commerce, stated on the same day that nearly a thousand achievements were achieved in seven categories, including transactions and investments, during this year's Service Trade Fair; 85 countries and international organizations held exhibitions, including 13 independent exhibitions for the first time, all exceeding the previous edition.
2. The Hong Kong Stock Exchange announced that according to the consultation summary released on June 18th and the notices on July 15th and August 2nd, the exchange has been approved by regulatory authorities to implement severe weather trading. Adverse weather trading will take effect from September 23rd. On adverse weather trading days, securities trading will proceed as usual, and all exchange participants are required to continue providing trading related services during adverse weather conditions. The exchange strongly recommends participants to use remote work mode and online services.
On the 16th, the Hong Kong Monetary Authority and the Macau Monetary Authority jointly announced that the Central Moneymarkets Unit (CMU) of the Hong Kong Monetary Authority and the Central Securities Depository and Clearing Corporation of Macau (a wholly-owned subsidiary of the Macau Monetary Authority) will establish a direct network for the operation of the Central Securities Depository and Clearing System.
Under the direct networking arrangement, Hong Kong investors will be able to settle, settle, and hold bonds held in custody in the Macau Central Securities Depository System through their CMU accounts, while Macau investors can also settle, settle, and hold bonds held in custody in CMU through their Macau Central Securities Depository System accounts. The arrangement will become a new milestone in financial cooperation between Hong Kong and Macao, and has significant and far-reaching implications for the coordinated development of core cities in the Guangdong Hong Kong Macao Greater Bay Area.
On September 16th, the Yancheng Huangsha Port National Center Fishing Port Phase II Terminal, led by China Railway Construction Investment Group and participated by China Railway 16th Bureau Group and China Railway Construction Port and Shipping Bureau Group, was officially put into use. This terminal is the first fully automated fishery terminal in China, which will be the first to have fully automated intelligent unloading functions. It will gradually be equipped with functional areas for aquatic product trading, frozen storage, fishery material storage, ice making and water addition, etc., to improve the efficiency of terminal operations and reduce the cost of fishing boat supply.
According to the Ministry of Transport, on September 15th, the cross regional personnel flow in the whole society reached 215.924 million, a month on month increase of 10.6%, a year-on-year increase of 37.9%, and an increase of 13.3% compared to the same period in 2019 (the first day of the Mid Autumn Festival holiday).
According to data from the Shanghai Shipping Exchange, as of September 16th, the Shanghai Export Container Settlement Freight Index (European routes) was reported at 3813.92 points, a decrease of 16.5% compared to the previous period.
The Beijing Union Medical College Hospital Macau Medical Center, a medical complex on outlying islands, opened on the 16th, marking the official operation of the first large-scale public comprehensive hospital built by the Macao SAR government after the return of Macau.
Company News
1. Yuexiu Property: On September 16th, it announced on the Hong Kong Stock Exchange that the company (as the borrower) has entered into a financing agreement ("Financing Agreement") with a bank ("Lender"). Accordingly, the lender shall provide a revolving loan facility of HKD 312 million (or its equivalent in RMB) within the terms and conditions of the financing agreement, with a loan term of 36 months from the first drawdown date.
2. Shiyao Group: On September 16th, it announced on the Hong Kong Stock Exchange that the injectable amphotericin B liposomes developed by the group have obtained the drug registration approval issued by the China National Medical Products Administration. The indications approved this time include the treatment of systemic fungal infections caused by sensitive fungi; Treat patients with neutropenia who have unexplained fever and are highly suggestive of systemic fungal infection; Treat visceral leishmaniasis in adults and children. The company stated that the approval of this product marks a significant progress for the group in the development of nanomedicine and antifungal infections, and further enriches the product line in the field of antifungal infections.
3. POWERCHINA: According to the news on the official account of "POWERCHINA" on September 16, recently, the middle runway of the Hong Kong International Airport participated by POWERCHINA completed its test flight, fully meeting the standards of the International Aviation Organization, which also marks that the three runways of the airport are ready for full operation.
4. Great Wall Motors: The official account of "Great Wall Motors" reported on September 16 that recently, Great Wall Motors made another big move in its global expansion. Great Wall Motors and Vietnam Cheng'an Group have signed a memorandum of cooperation, and both parties will engage in CKD assembly cooperation. By the end of 2025, relying on Great Wall Motors' accumulated car manufacturing experience and the localized resources of Cheng'an Group, Great Wall Motors aims to achieve Vietnamese car manufacturing and provide car purchasing options for Vietnamese users.
The Southeast Asian market is the gateway for Great Wall Motors' globalization. Starting from Thailand, Great Wall Motors has achieved normalized operations in regional markets such as Thailand, Malaysia, Laos, Brunei, and Vietnam.
5. Xiaomi Auto: A video circulating online shows that "a Xiaomi SU7 emitted smoke during an accident". Xiaomi Auto responded by posting that around 10:03 am on September 16th, a Xiaomi SU7 had an accidental traffic accident on the road near Nanjing South Station. The preliminary analysis results of the accident are as follows:
Xiaomi Automobile cooperated with traffic police/fire/insurance to investigate the accident scene, and combined with vehicle data analysis, preliminarily confirmed that the vehicle rushed out of the lane and crashed into the isolated flower bed area due to slippery road surface and improper driver operation during driving. The front bumper and chassis area of the vehicle collided with continuous square stones (approximately 28cm * 30cm * 50cm) around the isolation belt, causing severe damage to the bottom of the battery. It is suspected that a local short circuit occurred inside the battery due to the impact, resulting in short-term smoke and open flames, and downward pressure relief. After the accident, firefighters promptly intervened and dealt with it, and the vehicle risk has been relieved and transferred to a safe area. The passenger in the car was injured in the collision and has been promptly examined and treated in the hospital.
6. Microsoft: Microsoft announced a stock buyback plan of up to $60 billion and increased its quarterly dividend from 75 cents per share to 83 cents per share. The repurchase plan has no deadline. The aggregated data shows that this round of repurchase plan accounts for 1.9% of the company's current market value. Microsoft's stock price rose 0.5% after hours.
