[CSI Headlines].

Brush the business territory of New World and build a service platform to promote the development of cross-border e-commerce

On November 21, the Ministry of Commerce officially issued the "Several Policies and Measures to Promote the Steady Growth of Foreign Trade", pointing out that the development of cross-border e-commerce will be promoted. Continue to promote the construction of overseas smart logistics platforms. Support qualified localities to explore the construction of cross-border e-commerce service platforms, and provide enterprises with overseas legal affairs, tax resources and other docking services. Increase financing support for foreign trade enterprises and optimize cross-border trade settlement.

Comments: As a new form of foreign trade, cross-border e-commerce conforms to a new wave of global scientific and technological revolution. With a perfect digital platform and logistics system, cross-border e-commerce not only smooths the international supply chain industrial chain, facilitates traditional trade, but also promotes the internationalization of enterprises, becoming a new driving force for the growth of China's foreign trade. The latest preliminary estimate data shows that in the first three quarters of this year, China's cross-border e-commerce import and export was 1.88 trillion yuan, an increase of 11.5%. In the first half of this year, there were more than 100,000 cross-border e-commerce entities in China, more than 1,000 cross-border e-commerce industrial parks, and more than 1,800 overseas warehouses. China's cross-border e-commerce has realized the diversification of the foreign trade market, the business of emerging economies and countries jointly building the "Belt and Road" has grown rapidly, and a number of influential international e-commerce giants have emerged, gradually establishing an efficient and intelligent international logistics and distribution system, forming a strong international competitiveness and refreshing the world business map.

◆Among the A-share companies, Cross-border Connect (002640) is the leading cross-border e-commerce company in China, with the largest sales scale of multiple self-operated platforms and eBay and other platforms in the industry, and a complete process of cross-border e-commerce retail has been established. Bonda (603836) provides end-to-end logistics services for Chinese e-commerce enterprises, platforms and sellers to "go overseas", and at present, the company has initially formed a cross-border e-commerce full-link service capability of "domestic cargo collection + sea freight first + overseas last mile".

◆The Information Office of the State Council will hold a regular briefing on the policies of the State Council at 10 a.m. on Friday, November 22, inviting Wang Shouwen, international trade negotiator and vice minister of the Ministry of Commerce, and relevant responsible persons of the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People's Bank of China and the General Administration of Customs to introduce relevant policies and measures to promote the steady growth of foreign trade.

【Selected News】

○ At the "Data Governance Forum" of the 2024 World Internet Conference Wuzhen Summit on November 21, Li Wei, director of the Science and Technology Department of the People's Bank of China, introduced that the "Compliance Guidelines for Promoting and Regulating Cross-border Data Flow in the Financial Industry" is being stepped up.

○ The Ministry of Commerce issued the "Several Measures to Support Suzhou Industrial Park to Deepen the Comprehensive Experiment of Open Innovation", which proposes to strengthen the construction of digital infrastructure in Suzhou Industrial Park, appropriately advance the layout of networks and computing power, and support Suzhou Industrial Park to carry out open innovation pilots for the entire biomedical industry chain.

○Recently, Microsoft China officially announced that the Windows App Store has officially introduced the Tencent App Treasure area, and the first batch will be open to Windows Insider users.

○ According to the latest report from Canalys, a market research agency, global spending on cloud infrastructure services increased by 21% year-on-year to $82 billion in the third quarter of 2024.

○ The European Central Bank (ECB) released its Financial Stability Report. The report points out that although the debt-to-GDP ratio of most eurozone countries has declined, the sovereign debt burden of some eurozone countries is still very high, and there are high risks to the sustainability of sovereign debt.

○ There are reports that Google is planning to integrate its Chrome OS with Android to make more efficient use of development resources and further improve the ecosystem so that Android tablets can better compete with Apple's iPad.

[Sankei perspective].

The Ministry of Industry and Information Technology issued a document to build a comprehensive standardization system for smart homes

The Ministry of Industry and Information Technology (MIIT) solicited public comments on the "Guidelines for the Construction of a Comprehensive Standardization System for Smart Homes (2024 Edition)" (draft for comments). It is mentioned that by 2030, more than 50 national and industry standards in the field of smart home will be newly formulated, basically covering basic standards, key technical standards and application scenario standards, and some standards will be transformed into international standards, and the technical level and international influence of standards will be significantly improved, forming a smart home standard system suitable for the development of China's new era. Accelerate the construction of standard verification service capacity, focus on publicity and demonstration in areas with a high degree of integration of smart home industry and standardization, and serve smart home products, technologies, and application innovation with high-quality standards. A-share related concept stocks mainly include Visual and Sound Intelligence (870976), Ruide Intelligence (301135), etc.

[Company News].

○ Dow Technology (300409) said on the interactive platform on November 21 that the company's single-walled carbon nanotubes have been supplied to downstream solid-state battery manufacturers, and the company is laying out new production capacity plans.

○ Recently, Feichi Technology, a subsidiary of Meijin Energy (000723), held a delivery ceremony for the world's first hydrogen energy bus exported to Israel and Europe with the theme of "Hydrogen Energy Goes Overseas to Drive the Future". The hydrogen fuel cell bus exported this time is independently developed by Feichi Technology, using hydrogen as the main energy source, equipped with a 170kW high-power fuel cell engine (dual system), and has a cruising range of more than 600 kilometers.

○On November 20, NOVOSENSE (688052) announced that it has launched a NS800RT series of real-time control MCUs in conjunction with Chipstring Semiconductor. This series of MCUs enables engineers to achieve one-trillionths of a second PWM control in PV/energy storage inverters, uninterruptible power supplies, industrial automation, collaborative robots, new energy vehicles, air conditioning compressors, etc., thereby significantly improving the accuracy and efficiency of system operation.

○ Hunan Provincial Institute of Geology announced on November 21 that a major breakthrough has been made in the prospecting of the Wangu gold mine in Pingjiang County, Hunan. Experts believe that the scale of Xiangdong Wangu gold deposits is super-large, with prospective gold reserves of more than 1,000 tons above 3,000 meters underground, and the resource value of 600 billion yuan at the current gold price. Hunan Gold (002155) said that the minerals mentioned in the relevant news are held by the company's controlling shareholders.

○ Qianhong Pharmaceutical (002550) plans to issue convertible corporate bonds to raise a total of no more than 1 billion yuan, which is intended to be used to acquire 100% of the equity of Fangyuan Pharmaceutical and the technical transformation and upgrading project of the production workshop of etimicin sulfate API, the first phase of the construction project of Hubei Zhongxiang API production base, and the research and development project of innovative drugs.

○ Children's King (301078) plans to acquire 35% of the shares of Leyou International for 560 million yuan.

○Wondershare Technology (300624) has reached a cooperation with Universal Music, and users can use 50,000 pieces of music without infringement risk.

○Recently, the core equipment of Linde's U.S. hydrogen production project was delivered to Furui Heavy Equipment, a subsidiary of Furui Special Equipment (300228).

○Guangdong Hongda (002683) and Huawei's autonomous driving construction results were officially released.

○ Kingerobot (688455) plans to repurchase the company's shares for 150 million yuan to 300 million yuan.

[Capital Tide View].

○ On November 21, the net outflow of main funds in Shanghai and Shenzhen was 41.716 billion yuan. The top three sectors with net inflows of main funds were software development, home appliances and precious metals, with net inflows of 1.554 billion yuan, 1.024 billion yuan and 592 million yuan respectively. The top three stocks with net inflows of main funds are Sichuan Changhong, Oriental Fortune and 360, with net inflows of 2.108 billion yuan, 979 million yuan and 965 million yuan respectively.

○ Heertai (002402) rose on November 21, with a turnover of 9.001 billion yuan and a turnover rate of 49.48%. According to the data of the after-hours Dragon and Tiger List, the seats of the securities business department of CITIC Securities Xi'an Zhuque Street bought a net of 118 million yuan, the special seats of Shenzhen Stock Connect bought 126 million yuan and sold 159 million yuan, and the special seats of an institution sold a net of 89.6898 million yuan.

[IPO subscription].

○ Instar: the subscription code is 301622, the subscription price is 22.36 yuan, and the issue price-earnings ratio is 21.63 times, and the company is mainly engaged in rare earth permanent magnet material application devices.