Zhitong Hong Kong Stock Early Knowledge | The sales ratio limit for Hong Kong mutual recognition funds has been relaxed to 80%. Nio-SWET9 limited edition has sold out

[Today's Headlines]

China Securities Regulatory Commission Releases "Regulations on Mutual Recognition of Funds in Hong Kong"

The main revisions of the "Regulations" include: first, the limit on the proportion of sales of Hong Kong mutual recognition funds in the local market has been relaxed from 50% to 80%. Second, the restrictions on the delegation of investment management functions of Hong Kong mutual recognition funds have been appropriately relaxed, allowing the delegation of investment management functions to overseas affiliated institutions within the group. Third, space has been reserved for more conventional types of products to be included in the scope of Hong Kong mutual recognition funds in the future. Many fund companies expect that the implementation of the "new regulations on mutual recognition funds" will provide investors with more diversified global allocation opportunities and richer global allocation choices, while also attracting large multinational asset management institutions to enter the mainland market.

[Market Outlook]

Bitcoin Plummets by 5% at One Point

Last weekend, U.S. stocks closed with the Dow Jones Industrial Average up 498.02 points, an increase of 1.18%, closing at 42,840.26 points; the Nasdaq rose 199.83 points, an increase of 1.03%, closing at 19,572.60 points; the S&P 500 index rose 63.77 points, an increase of 1.09%, closing at 5,930.85 points. Tesla (TSLA.US) fell 3.46%, NVIDIA (NVDA.US) rose 3.08%, Apple (AAPL.US) rose 1.88%, and Broadcom (AVGO.US) rose 1.13%.

The Dow Jones fell 2.25% over the week, the Nasdaq closed down 1.78%, and the S&P 500 index fell 1.99%. The Hang Seng Index ADR rose, closing at 19,784.41, up 63.71 points or 0.32% compared to the Hong Kong close.

Bitcoin plummeted by 5% at one point, with the decline expanding to nearly 15% from last week's historical high.

[Hot Topics Ahead]

Regarding Digital Macanese Patacas! Macau Monetary Authority Releases

On the occasion of the 25th anniversary of Macau's return to the motherland, the prototype system of the digital Macanese pataca made its "debut." Recently, the Macau Monetary Authority officially released the "White Paper on the Digital Macanese Pataca" and publicly demonstrated the prototype system of the digital Macanese pataca. The Secretary for Economy and Finance of Macau, Li Wei Nong, announced at the release event that with the support of the People's Bank of China, the Macau SAR has successfully constructed the prototype system for the digital Macanese pataca, laying the necessary foundation for the future development of the digital Macanese pataca. Subsequently, under the premise of ensuring the infrastructure is complete, undergoing comprehensive testing, and maintaining controllable risks, the digital Macanese pataca will be officially launched.

National Healthcare Security Administration: Highly Concerned About Individual Pharmaceutical Companies Falsifying Invoices to Create "Two Price Systems"

Healthcare security administrations in various provinces (autonomous regions, municipalities) are carefully investigating whether there are similar issues with products involved, such as Ginkgo biloba extract injection, cefoperazone sodium injection, and hydrolyzed protein oral solution, to quickly ascertain the base price on the network.

National Financial Regulatory Administration: Transition Period for Insurance Company Solvency Supervision Rules (II) Extended to the End of 2025

It has been decided to extend the transition period for the insurance company solvency supervision rules (II), originally scheduled to end in 2024, to the end of 2025. For insurance companies significantly affected by the transition between the old and new rules on solvency adequacy ratio, they may communicate the transition period policy with the Financial Regulatory Administration and its dispatched agencies before January 15, 2025. The Financial Regulatory Administration will determine the transition period policy for each company by the end of February 2025 "Regulations on Tax Information Reporting by Internet Platform Enterprises" Open for Public Consultation

The "Regulations on Tax Information Reporting by Internet Platform Enterprises" are open for public consultation starting December 20. According to the regulations, internet platform enterprises must report the relevant income information of operators and employees within the platform for the previous quarter during the tax declaration period of the following month after the end of each quarter. There is no need to report income information accumulated before the implementation of the regulations.

Guotai Junan (02611): Hong Kong Securities and Futures Commission has approved Guotai Junan Securities' application to become the major shareholder of several subsidiaries of Haitong Securities

According to a joint announcement by Guotai Junan (02611) and Haitong Securities (06837), on December 19, 2024, the Hong Kong Securities and Futures Commission approved Guotai Junan Securities' application to become the major shareholder (as defined in Section 1, Part 6 of Schedule 1 of the Hong Kong Securities and Futures Ordinance) of several subsidiaries of Haitong Securities (which are licensed corporations) under Section 132 of the Hong Kong Securities and Futures Ordinance.

Guo Guangchang: In the past two years, Fosun has mainly focused on slimming down and retreating, but this year emphasizes both entry and exit

Guo Guangchang, Chairman of Fosun International, stated at the "8th World Zhejiang Business Shanghai Forum and 2024 Shanghai Zhejiang Chamber of Commerce Annual Meeting" that in the past two years, Fosun has mainly focused on slimming down and retreating, but this year emphasizes both entry and exit to solve problems through development. "In terms of retreat, we exit non-core assets and heavy assets. On one hand, it is to continue reducing debt and achieve an 'investment grade' rating; more importantly, it is to adjust the asset structure.

We propose to transform towards light asset operations. Fosun's past accumulation has formed asset operation capabilities, and in the future, we will rely on our operational capabilities to cooperate with state-owned enterprises and insurance companies to help them manage heavy assets. In terms of entry, we must firmly emphasize focusing on our main business and industries where we have already formed advantages.

This year, Fosun announced two privatization plans, one for Fuhong Hanlin and one for Fosun Tourism. The pharmaceutical and tourism sectors are industries where we have already formed advantages, and we hope that after privatization, we can accelerate development more flexibly in the future."

Cathay Pacific Group CEO Lin Shaobo: Hopes to increase the number of flight points to over 100 next year

Cathay Pacific Group CEO Lin Shaobo stated that Cathay is facing an identity crisis both in Hong Kong, the mainland, and internationally. He emphasized that Cathay's positioning is very clear, consistent with Hong Kong's positioning, which is "rooted in Hong Kong, backed by the motherland, and connected to the world"; the three years of the pandemic were the most difficult period in Cathay Pacific's 78-year history, during which Cathay's flights fell out of the top ten best airlines in the world. He hopes to exceed pre-pandemic levels next year and increase the number of flight points to over 100, with Cathay's goal being to become the world's best airline.

Chifeng Gold (600988.SH): Issuance of H shares related matters filed with the China Securities Regulatory Commission

According to a report from Zhitong Finance APP, Chifeng Gold (600988.SH) announced that the company recently received the "Notice of Filing for Overseas Issuance and Listing of Chifeng Jilong Gold Mining Co., Ltd." issued by the China Securities Regulatory Commission regarding the company's application to issue overseas listed shares (H shares) and list on the Hong Kong Stock Exchange According to the filing document, the company plans to issue no more than 338 million overseas listed ordinary shares and list them on the Hong Kong Stock Exchange.

Valuation of HKD 11.7 billion! TuDatong plans to go public via a reverse merger as the laser radar market "ignites again"

On December 20, Hong Kong SPAC company TechStar announced that it would merge with automotive laser radar supplier TuDatong. Upon completion of the merger, TuDatong will go public in Hong Kong. Currently, TuDatong is valued at HKD 11.7 billion. According to data from ZhiShi Consulting, TuDatong ranks first globally in sales revenue for passenger car laser radar solutions in 2023.

Yibin Commercial Bank passes Hong Kong Stock Exchange hearing, financial services improve both quality and efficiency

According to information obtained by Zhitong Finance APP, Yibin City Commercial Bank Co., Ltd. has passed the hearing of the Hong Kong Stock Exchange, with China Jianyin Investment and ICBC International as its joint sponsors.

[Stock Highlights]

Nio-SW (09866) ET9 limited edition sold out, Li Bin: order volume exceeds expectations

On December 22, Nio founder and chairman Li Bin stated that the limited edition of the Nio ET9 has sold out, with order volume exceeding expectations. At the NIO Day 2024 held on December 21, Nio's intelligent electric flagship model—ET9 was officially launched, with a starting price of 788,000 yuan for the vehicle purchase plan and 660,000 yuan for the battery rental plan. Meanwhile, Nio launched 999 units of the ET9 limited edition model, priced at 818,000 yuan. According to Li Bin, the Nio ET9 will officially begin deliveries in March next year, prioritizing the limited edition.

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