GuShiio.com ① The central bank and other five departments held a symposium on financial support for the high-quality development of private enterprises ② The press conference of the third session of the 14th National Committee of the Chinese People’s Political Consultative Conference was held today ③ The UK and Ukraine signed a loan agreement of 2.26 billion pounds ④DeepSeek earned a maximum of 3.46 million yuan a day? Official response ③ Xiaomi SU7 Ultra completed its full-year mission ahead of schedule.
macro news
1. The Political Bureau of the CPC Central Committee held a meeting on February 28 to discuss the draft “Government Work Report” that the State Council intends to submit to the Third Session of the 14th National People’s Congress for review. Xi Jinping, General Secretary of the CPC Central Committee, presided over the meeting. The meeting emphasized the need to implement more proactive macro policies, expand domestic demand, promote the integrated development of scientific and technological innovation and industrial innovation, stabilize the property market and stock market, prevent and resolve risks and external shocks in key areas, stabilize expectations, stimulate vitality, and promote the continued recovery of the economy. Good.
2. The People’s Bank of China, the All-China Federation of Industry and Commerce, the State Administration of Financial Supervision, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly held a symposium on financial support for the high-quality development of private enterprises on February 28. The meeting requested that policies such as “Eight Articles on Science and Technology Innovation Board”,”Sixteen Articles on Serving the Modern Industrial System” and “Six Articles on Mergers and Acquisitions” should be implemented to support the development and growth of private enterprises through the capital market. The meeting emphasized the need to promote the improvement of financing supporting mechanisms, make great efforts to solve the problems of financing difficulties and expensive financing for private enterprises, and jointly create a better development environment for private enterprises. At the meeting, Central Bank Governor Pan Gongsheng revealed that as long as inflationary pressure in China is not large, it will ensure that the financing costs of private enterprises will remain low for a long time to come. Yuan Duoran, deputy general manager of the Shanghai Stock Exchange, said that the next step will be to promote more high-quality private technology-based enterprises to be listed on the Science and Technology Innovation Board. Liao Lin, chairman of ICBC, said that it plans to provide investment and financing for private enterprises of no less than 6 trillion yuan in the next three years.
3. The press conference of the Third Session of the 14th National Committee of the Chinese People’s Political Consultative Conference will be held at 15:00 today. Conference spokesperson Liu Jieyi will introduce the relevant situation of this conference to Chinese and foreign media and answer questions from reporters. The Third Session of the 14th National People’s Congress will hold a press conference at 12:00 on March 4. The spokesperson of the conference will answer questions from Chinese and foreign journalists on issues related to the agenda of the conference and the work of the National People’s Congress.
4. Data from the National Bureau of Statistics showed that in February, the manufacturing purchasing managers index (PMI) was 50.2%, an increase of 1.1 percentage points from the previous month, and the manufacturing boom level rebounded significantly.
industry news
1. On the morning of March 1, the “Lujiazui Financial Salon” series of activities was officially launched, contributing wisdom and strength to the high-quality development of China’s finance. At the launching ceremony, witnessed by Li Yun, Secretary of the Party Committee and President of Shanghai Newspaper Group, and Yang Jian, Vice President, the Secretariat of Lujiazui Financial Salon signed a strategic cooperation agreement with Jianxianlian and First Finance and Economics.
2. The Office of the Central Rural Work Leading Group published an article entitled “Taking Further Deepening Rural Reform as a Driving Force to Solidly Promote Comprehensive Rural Revitalization” in “Qiushi”. The article mentioned that the fundamental solution for agriculture lies in science and technology, and the key is seeds.
3. DeepSeek’s “windfall” data on March 1 on the last day of Open Source Week sparked heated discussions-the theoretical daily profit of the V3/R1 reasoning system reached 3.46 million yuan (US$475,000). DeepSeek mentioned that there is actually not so much revenue because V3’s pricing is lower, and fee-based services only account for a portion. User-oriented webpages and applications are free, and there are discounts at night, resulting in actual revenue far less than theoretical value.
4. The Henan Province government signed a comprehensive deepening strategic cooperation agreement with Huawei Technologies Co., Ltd. in Zhengzhou on March 1. According to the agreement, the two sides will further strengthen coordination and linkage, gather talents, technology, products and other resources, carry out in-depth cooperation in advanced computing, digital transformation, artificial intelligence, new energy vehicles, grassroots governance, smart transportation and other fields, and implement more industries, achieve mutual benefit and win-win results, and jointly promote the sustained and healthy development of various economic and social undertakings in Henan.
5. The latest statistics from the Guangzhou City Real Estate Agents Association show that in February, a total of 6278 sets of second-hand residential buildings in Guangzhou City were signed online, with a total online signing area of 622,100 square meters, a year-on-year increase of 29.04% and 26.90% respectively; The latest data released by Shenzhen Leyoujia Research Center shows that in February, the total number of online signing of first-hand residential buildings in Shenzhen exceeded 6000, both of which doubled year-on-year growth.
6. BYD joined hands with DJI yesterday to release the intelligent vehicle-mounted drone system “Lingkite”. According to Yang Dongsheng, senior vice president of BYD Group and president of the Automotive New Technology Research Institute, the Lingyuan intelligent vehicle-mounted drone system can not only realize dynamic take-off and landing, one-click return to the cabin, intelligent follow-up, but also realize automatic fast charging. The system will cover multiple brands and models owned by BYD.
7. On March 1, the new car-building forces Xiaopeng, Ideal, Zero Run and Weilai successively disclosed the delivery situation in February. Xiaopeng Automobile delivered 30453 new vehicles in February, a year-on-year increase of 570.03%; Ideal Automobile delivered 26263 new vehicles in February, a year-on-year increase of 29.69%; zero-running cars delivered 25287 vehicles in February, a year-on-year increase of 285.12%. NIO Automobile’s performance in February remained sluggish, with its two major brands delivering less than 10,000 vehicles.
8. Following the intensive cuts in urban commercial banks, many foreign banks such as Standard Chartered Bank, DBS Bank, HSBC Bank, and Evergrowing Bank have also begun to cut US dollar deposit rates one after another. The highest annual interest rate has dropped below 3.5%. The last “high-interest-rate land” for US dollar deposits in the mainland is disappearing.
9. According to the National Medical Insurance Administration, the National Medical Insurance Administration recently compiled and issued the “Guidelines for the Establishment of Respiratory Medical Service Price Projects (Trial)”, referring to the 2023 version of the Medical Service Project Technical Specifications, mapping and integrating the current 207 respiratory system technical specification projects into 68 price items.
company news
1. The China Securities Regulatory Commission notified the progress of the phased investigation into the financial fraud case of Dongfang Group, and initially found that Dongfang Group was suspected of major financial fraud, which may involve major illegal and forced delisting.
2. According to news from the Xiaomi Automobile Public Account yesterday evening, the number of Xiaomi SU7 Ultra locks has exceeded 10000 units, completing the annual task ahead of schedule.
3. Qianli Technology announced that it plans to jointly sign the “Vehicle BU Investment Framework Agreement” with Geely, Lotus, etc.
4. BYD announced that the cumulative sales of new energy vehicles in the first two months of this year were 623,400 units, a year-on-year increase of 92.52%.
5. Guotai Junan announced that the equity registration date for the A-share swap of Haitong Securities will be March 3.
6. 3 Lianban Hengwei Technology announced that the company’s Shengteng DeepSeek all-in-one machine is still in the marketing stage.
7. Zhongding announced that its subsidiary signed a strategic cooperation agreement with Evert.
8. Tianyuan Pets announced that it plans to purchase a controlling stake in Taotong Technology, and its stock will be suspended starting today.
9. 2. I want you to announce that the company has not found any circumstances that should be revised in the performance forecast disclosed in the previous period.
10. ZTE announced that its net profit in 2024 will be 8.425 billion yuan, a year-on-year decrease of 9.66%. On the same day, the company announced that it plans to use no more than 30 billion yuan of its own funds for entrusted financial management.
11. China Nuclear Power announced that it plans to increase its capital by 1 billion yuan to participate in fusion companies to lay out the nuclear fusion energy field.
global market
1. When U.S. President Trump met with Ukraine President Zelensky at the White House on the 28th, the two sides had many disputes. Zelensky demanded a security commitment from the United States, publicly challenged Trump’s moderate attitude towards Russian President Vladimir Putin, and refuted Trump’s claim that “cities in Ukraine have been razed to the ground by three years of war.” Trump and Vice President Vance called Zelensky “disrespectful of the United States” and “gambling with World War III” and said that “either Ukraine reaches an agreement or the United States withdraws.” Trump said that Ukraine has no right to dictate how the United States views the conflict, and Zelensky “should be more grateful.” Trump said Zelensky had no cards to play and a peace agreement should be reached with Russia. Subsequently, the joint press conference between the two sides was cancelled.
2. Darren Jones, chief secretary of the British Treasury, said on social media platforms on the evening of March 1 local time that on the same day, British Chancellor of the Exchequer Rachel Reeves and Ukrainian Finance Minister Sergei Marchenko signed an agreement to provide Ukraine with a £ 2.26 billion loan to strengthen Ukraine’s defense capabilities.
3. U.S. President Trump ordered a new round of tariff investigations on wood imports on March 1 local time. More tariffs may be imposed on imported wood. This round of investigations will be completed within 270 days.
4. The three major U.S. stock indexes collectively closed up last Friday. The Dow rose 1.39%, up 0.95% last week; the Nasdaq index rose 1.63%, down 3.47% last week. The S & P 500 index rose 1.58%, down 0.98% last week. Large technology stocks generally rose, with Tesla and Nvidia rising nearly 4%, Apple rising nearly 2%, and Intel rising more than 2%. Most popular Chinese stocks fell, with the Nasdaq China Golden Dragon Index closing down 1.82% on Friday. Weibo fell nearly 5%, Ideal Automobile, NIO and Xiaopeng Automobile fell more than 3%, and Alibaba fell nearly 3%.
Investment opportunity reference
1. Lei Jun: Xiaomi’s R & D investment in 2025 is expected to exceed 30 billion yuan
Lei Jun, founder, chairman and CEO of Xiaomi, said at the Xiaomi 15Ultra conference that Xiaomi’s R & D budget in 2025 will exceed 30 billion yuan, of which about a quarter of the budget will be invested in AI and related businesses. Lei Jun also introduced that in the next five years, R & D investment is expected to reach 105 billion yuan.
In recent years, with the rapid development of technologies such as generative AI and large models, AI has become the core driving force of the technology industry. Huatai Securities Research News pointed out that the commercial application of AI technology is also accelerating. As AI technology continues to mature, relevant industrial chains will also usher in major development opportunities, especially in core areas such as servers, data centers and network infrastructure.
2. Kimi’s latest model k1.6 has been exposed, and its programming capabilities surpass GPT o3-mini
According to media reports, Kimi’s latest model k1.6 was exposed. According to LiveCodeBench, the world-renowned dynamic benchmark platform, Kimi k1.6 exceeds GPT o3-mini, o1 and other models. Flood, a researcher on the Dark Side of the Moon, said on social platforms that k1.6 is a training based on k1.5 and its performance is still improving. Zhang Yutong, co-founder of Dark Side of the Moon, said in a circle of friends,”k1.6 has not yet been released, but I am happy to see the results of LiveCodeBench and look forward to the continued evolution of intelligent models.”
Guosen Securities said that with the promotion and application of Deepseek open source models, domestic Internet and model manufacturers have also launched large models that benchmark against the world’s leading level. The leveling of the capabilities of the model layer will benefit the growth of downstream demand from cloud manufacturers, reduce the cost of AI application development and implementation, and accelerate the development of AI applications.
3. The two departments issued a document saying that they will increase support for charging infrastructure
According to media reports, the General Office of the State Financial Supervision and Administration and the General Office of the People’s Bank of China issued the “Implementation Plan for the High-Quality Development of Green Finance in the Banking and Insurance Industry.” It mentioned that we should explore and improve financial services for the entire industry chain of new energy vehicles and increase financial support for the field of charging infrastructure. Explore financial services for biomass energy, geothermal energy, and ocean energy, and promote the development of hydrogen energy, nuclear power and other energy sources in an orderly manner.
Policy guidance adds to the boom at the tram terminal, and the charging pile link may welcome growth. Shanghai Securities said that it is optimistic about the development trend of new energy vehicles “pile-driven vehicles”, optimistic about the utilization rate of operators, revenue improvement and manufacturing shipment growth. It is recommended to pay attention to investment opportunities for charging operators and the charging pile industry chain.
4. Local governments at all levels have become a craze to access DeepSeek to provide government services
Recently, the reporter learned from the Jinjiang City Government Service Center that version 2.0 of the “Jinkuaoban” government service platform launched by the center has been officially connected to DeepSeek, the leading domestic language model.
Recently, DeepSeek’s “circle of friends” has expanded rapidly. It has become a craze for local governments at all levels to access DeepSeek to provide government services to citizens. Guotai Junan Securities believes that the integration of DeepSeek into government processes will help the government significantly improve efficiency. As a key area closely related to people’s lives, government services are facing an urgent need for continuous optimization and upgrading. As application scenarios expand, local computing power demand or state-owned cloud computing power demand will continue to be released, and government IT companies and state-owned cloud operators are expected to fully benefit.
