Pre-market report on A-shares | Three major financial regulatory agencies gather together, price war puts car dealers in a deep quagmire.

Morning heavy news overview 1. The three major financial regulatory agencies rarely gather before the holiday. Pan Gongsheng, Li Yunze, and Wu Qing attended a press conference at 9 am Pan Gongsheng, Governor of the Central Bank, Li Yunze, Director of the Financial Regulatory Bureau, and Wu Qing, Chairman of the Securities and Exchange Commission, gathered at the Guoxin Office today to introduce the relevant situation of financial support for high-quality economic development. Minsheng Securities stated that historically, the period before the National Day holiday seems to be an important window for policy implementation. 2. New state-owned enterprise China Resource Recycling Group is being established, and the waste steel recycling business of China Baowu is expected to be integrated Zhao Chenxin, Deputy Director of the National Development and Reform Commission, stated that support for the establishment of the China Resource Recycling Group to promote the establishment of a national and functional resource recycling platform. Currently, there are 97 central enterprises, and the China Resource Recycling Group will become the 98th central enterprise. The waste steel recycling business of China Baowu is expected to be integrated into the new central enterprise. 3. The U.S. plans to completely ban Chinese smart connected car software and hardware? Ministry of Foreign Affairs: Resolutely defend legitimate rights According to reports, out of consideration for "national security," the U.S. plans to prohibit smart connected cars and autonomous vehicles using Chinese software and hardware from operating on U.S. roads. In response, Lin Jian of the Ministry of Foreign Affairs stated that China opposes the U.S. generalization of national security concepts and will resolutely defend its own legitimate rights. 4. Price wars lead to car dealerships being deeply mired, China Automobile Circulation Association submits an emergency report to government departments The China Automobile Circulation Association has received a large number of member companies reflecting the drastic changes in the car market caused by the ongoing "price wars" and other factors, leading to car dealerships being deeply mired. Based on this, the Association has formally submitted a report to relevant government departments to provide effective basis for government decision-making. Financial Calendar There are no new stock subscriptions and listings in Shanghai and Shenzhen today. Reminder: Huawei Autumn New Product Launch Conference will be held today Opportunities to look out for After analyzing the investment opportunities that the market is paying attention to, Tesla, natural gas, and gold are in focus. 1. Tesla's stock rose nearly 5% overnight, analysts expect vehicle deliveries in the third quarter to exceed expectations Tesla's stock rose nearly 5% during trading on Monday, reaching its highest level in two months, wiping out all losses for the year and turning positive. Media reports state that Barclays analysts expect Tesla's third-quarter deliveries to exceed market expectations, coupled with the upcoming launch of Robotaxi next month, which could continue to drive the stock price higher. Analysis: Guotai Junan believes that Tesla's FSD is expected to enter the Chinese/European market in the first quarter of 2025. Based on its strong autonomous driving technology, the upcoming Robotaxi, and new car models in 25 years, Tesla is poised for huge potential, and the supply chain will benefit significantly. 2. Hefei raises residential pipeline natural gas prices, institutions are optimistic about the improvement in city gas sector performance The Hefei Development and Reform Commission recently issued a notice regarding matters related to the sale price of residential pipeline natural gas in our city, which will take effect from October 15, 2024. First-tier price: 3.02 yuan/cubic meter; annual gas consumption 0-360 cubic meters (including 360 cubic meters). Second-tier price: 3.32 yuan/cubic meter; annual gas consumption 360-1680 cubic meters (including 1680 cubic meters). Third-tier price: 4.53 yuan/cubic meter; for gas consumption above 1680 cubic meters. Analysis: Guotai Securities believes that with the continued promotion of marketization reforms, residential property prices are steadily advancing, and the city gas sector's gross profit margin is expected to improve; some city gas companies have actively increased their dividend levels against the backdrop of stable earnings growth, becoming low-volatility high-quality assets. 3. Spot gold and futures gold jointly hit new highs again, institutions predict that gold prices will continue to fluctuate upward in the future Another impact of the Federal Reserve's interest rate cut "residual warmth" is the international gold price. On September 23rd local time, spot gold and futures gold hit new highs again. London gold (spot gold) rose to a high of $2636.74 per ounce, setting a new historical high. At the same time, the futures market also exploded, with COMEX gold prices rising to a new high of $2659.8 per ounce on the 23rd. Analysis: Soochow believes that the official end of the Federal Reserve's tightening cycle, together with a more dovish rate cut than expected, has rapidly pushed down real interest rates, pushing up gold prices. It is expected that gold prices will further show a fluctuating upward trend in the future. Future market judgment CITIC SEC: A shares are expected to accelerate the bottoming process, focusing on dividends and going global as a core holding CITIC SEC believes that the entry of the U.S. into an interest rate-cutting cycle will benefit global risk asset valuations, and despite its recent rebound, Hong Kong stocks still offer significant price-to-performance ratios as it is fully reflecting pessimistic expectations. Its recent rebound is expected to continue and become a monthly-level repair market; with significant improvement in the RMB exchange rate outlook, CITIC SEC expects incremental policies to intensify, and the bottoming process of A shares with improved pricing efficiency is also expected to accelerate. However, it still requires patience to await market turning points, and currently, the focus remains on dividends and going global as a core holding. Positive and negative announcements by listed companies In terms of biased positive announcements, focus on Yunnan Chihong Zinc & Germanium's repurchase of shares, and in terms of negative announcements, Baoding Tianwei Baobian Electric, which has been suspended for 10 days, warns of risks. Biased positive announcements 1. Yunnan Chihong Zinc & Germanium: Plans to repurchase shares for 145 million to 290 million 2. Meihua Holdings Group: Plans to repurchase shares for 300 million to 500 million for cancellation 3. Xilinmen Furniture: Plans to repurchase shares for 100 million to 200 million 4. Daqin Railway: Supervisor Wen Jing increased holdings of the company's shares by 9,000 shares 5. CECEP Tech and Ecology & Environment: Full subsidiary signed a 4.19 billion RMB energy-saving science and technology creation building construction general contract 6. Hunan Valin Wire & Cable: Recently won contracts in the mining industry with a total amount of approximately 340 million RMB 7. China Aluminum International Engineering Corporation: Successfully bid forTongliao City Zha Han Nao Er 350,000 tons Green Power Aluminum Project8. Zhejiang Garden Biopharmaceutical: The net profit for the first three quarters is expected to be between 2.32 billion and 2.62 billion, a year-on-year increase of 55.77% -75.92%. Slightly negative announcement: 1. Baoding Tianwei Baobian Electric, which has been on the 10-board limit for 14 consecutive days, currently has no asset injection, business restructuring, or major business cooperation issues. 2. Hainan Shuangcheng Pharmaceuticals, which has been on the 7-board limit for consecutive days, the audit and evaluation of the trading have not been completed, and the specific trading price has not been determined. 3. Datang Telecom Technology, which has been on the 5-board limit for consecutive days, the company's stock may face the risk of a decline after a large short-term increase. 4. Shanghai Highly, which has been on the 4-board limit for consecutive days, has a small business scale for the cooling system for lithography machines. 5. LingNan Eco&Culture-Tourism, which has been on the 4-board limit for 6 consecutive days, is currently making every effort to raise funds to repay debts. 6. Guangdong Rongtai Industry, which has been on the 3-board limit for consecutive days, still has restricted intangible assets, investment properties, and construction in progress totaling approximately 179 million yuan on the balance sheet. 7. Shenzhen Longsys Electronics: The National Integrated Circuit Fund plans to reduce its stake in the company by not more than 0.36%. Unlocking list: From the unlocking ratio perspective, in the next 5 days, Shanghai Geoharbour Construction Group Co., Ltd. has an actual unlocking ratio of 68.42%, followed by Shandong Kaisheng New Materials and Hangzhou Alltest Biotech with a higher unlocking ratio. Overseas markets: The overnight U.S. stock market rose slightly, with the Dow Jones and S&P 500 hitting new closing highs. In other markets, COMEX gold futures rose by 0.24% to $2652.50 per ounce; light crude oil futures for November delivery on the New York Mercantile Exchange closed at $70.37 per barrel, down 0.89%; Brent crude oil futures for November delivery on the London Intercontinental Exchange closed at $73.90 per barrel, down 0.79%. This article was reprinted from "Tencent Stock Selection". Editor: Xu Wenqiang.