Evening hot spots in A-shares | State Council issues document! Increase support for financing of technology-based enterprises.

Below is the text of the evening newspaper: 1. State Council Office: Increase support for equity financing for technology-based enterprises that break through key core technologies Importance: On March 5, the State Council Office issued guidance on the "Five Major Financial Articles." The guidance proposed to establish a sound mechanism for the green channel of IPO financing and mergers and acquisitions, and to increase support for equity financing for technology-based enterprises that break through key core technologies. Optimize the system of private equity and venture capital fund raising and management, and guide social capital to increase investment in key areas of the financial "Five Major Articles." Increase efforts to enliven the M&A market, and support efficient integration and reorganization in the fields of technology and green industries. Normalization of the issuance of infrastructure real estate investment trust funds for projects in clean energy, elderly care, and new types of infrastructure. 2. Morgan Asset Management: China's asset revaluation has just begun and is far from over Importance: Morgan Asset Management stated that the policy layout of the two sessions responds to market concerns in all aspects. The increment is made to expand domestic demand, and technology policy support resonates with industrial trends. Stable macroeconomic conditions will help provide a stable pricing environment for the market as a whole. With stable demand expectations, consensus is forming on the structural improvement of fundamentals, and increasingly clear industrial trends are higher and more important investment clues. "The process of revaluing Chinese assets has just begun and is far from over." Morgan Asset Management told the Securities Times reporter that with a series of policies coming out, the market may usher in a "Davis double hit" process - that is, while valuation is being raised, company profits are gradually improving, which is expected to push the market into a better investment stage. 3. China Banking and Insurance Regulatory Commission: Pilot projects for technology company M&A loans cover 18 cities including Beijing, Shanghai, and Hangzhou Importance: According to the official website of the China Banking and Insurance Regulatory Commission, the commission has recently organized pilot work to moderately relax policies on M&A loans for technology companies, pilot programs in 18 cities including Beijing, Shanghai, Guangzhou, and Shenzhen to moderately relax some provisions of the "Commercial Bank M&A Loan Risk Management Guidelines," to support the development of technology companies. In addition, for "controlling-type" M&A, the pilot program will relax the percentage of loans to M&A transaction value "should not exceed 60%" to "should not exceed 80%", and the loan term of "generally not exceeding seven years" will be relaxed to "generally not exceeding ten years." 4. Government Work Report first mentions "stabilizing the real estate and stock markets" - top ten brokerage firms authoritative interpretations Importance: The Government Work Report for 2025, which has received widespread attention from the market, has been released. This Government Work Report involves several major pieces of information, among which, the mention of "stabilizing the real estate and stock markets" in the overall requirements of the Government Work Report has garnered market attention. Several brokerage firms have also issued interpretations of this Government Work Report. Here are some viewpoints from brokerage firms: Guotai Junan: The foundation for the "transformation bull" of China's stock market in 2025 is solid, with investment focus on technology; China Securities Co., Ltd.: The fundamental trend of long-term improvement in the economy has not changed and will not change; CICC: The performance of the A-share market in the second half of the year is expected to be better than the first half; CITIC SEC: The pace of reserve rate cuts and interest rate cuts may be accelerated. 5. Ministry of Foreign Affairs responds to the US's additional tariffs on China - if the US persists in harming China's interests, we will accompany them to the end Importance: Foreign Ministry spokesperson Lin Jian presided over the routine press conference on the 5th. A reporter from AFP asked if China agrees with the statement made by the Chinese Ambassador to the US on social media, saying that China is prepared to fight a tariff war, trade war, or whatever with the US, as you mentioned related content yesterday. "I have not seen the relevant statement from the Chinese Ambassador to the US that you mentioned." Lin Jian said, "Yesterday, we already clarified China's solemn position on related issues." Lin Jian stated that the US is once again imposing tariffs on products imported from China under the pretext of fentanyl. China has repeatedly stated its opposition and taken proper and necessary countermeasures. If the US really wants to solve the fentanyl issue, it should negotiate with China on an equal and mutually respectful basis and address each other's concerns. If the US has ulterior motives and insists on harming China's interests, we will accompany them to the end. 6. Beijing: Promote the development and application of 5G intelligent Siasun Robot & Automation, encourage the pre-installation of 5G modules in vehicles Importance: The Beijing Municipal Bureau of Economy and Information Technology recently released the "Beijing 5G Large-Scale Application 'Sailing' Action Upgrade Plan (2025-2027) (Draft for Comments)," and is soliciting public feedback. The draft mentions that relevant departments plan to promote the research and application of intelligent Siasun Robot & Automation, intelligent mobile terminals, cloud devices, and encourage innovation and development of products that integrate 5G such as XR business systems, glasses-free 3D, smart wearables, and smart home products. In addition, the draft also mentions that relevant departments plan to promote "on-board 5G" by encouraging the pre-installation of 5G communication modules in vehicles, to help upgrade the intelligence and driving quality of intelligent connected vehicles and smart cabins. 7. Long-term capital "rushing" into the market, bank stocks becoming the ballast of insurance equity assets Importance: Since the beginning of the year, insurance funds have frequently entered the market. Recently, Ping An Insurance Life Insurance Co., Ltd. announced that Ping An Asset Management Co., Ltd. was entrusted by Ping An Life Insurance funds to invest in Agricultural Bank of China H-shares, reaching 5% of Agricultural Bank of China H-shares' equity on February 17, 2025, triggering a mandatory tender offer according to Hong Kong market rules. This is the third time since the beginning of 2025 that Ping An Insurance has "made a tender offer" for bank stocks. Regarding this round of intensive allocation of insurance funds, Yu Jinxin, an analyst at Minsheng Securities, pointed out that the continuous increase in holdings of insurance funds confirms the logic of a dividend repair in the banking sector, and the disclosure of performance reports may catalyze the "opening""Red envelope" situation. The insurance industry's door-to-door red envelopes are currently underway, providing strong financial support for the banking sector. With the decline in bond market interest rates, the cost-effectiveness of high dividend bank stocks is highlighted.1. The US Dollar Index fell below the 105 mark again after 4 months The US Dollar Index has recently fallen sharply, now dropping below the 105 mark, hitting a new low since November 12th, with a 0.5% drop on the day, marking the third consecutive day of significant decline. Worries stemming from the US tariff trade war and the rekindled expectation of the Fed cutting interest rates three times this year are the main reasons pressuring the US Dollar Index to drop. 2. What signal does Musk's retweet of "quit NATO" send? Experts: It depends on Congress's attitude Elon Musk, head of the US Department of Government Efficiency, recently retweeted a post saying "It's time to quit NATO and the UN" on social media, adding "I agree." Zhujie, professor of International Politics at the School of International Relations and Public Affairs at Fudan University, noted that Musk's identity is intriguing. On the one hand, he acts as a "trial balloon," sparking discussions, but on the other hand, considering Musk is not a true government member, and even if making decisions, the US executive branch does not have that much power, with ultimate authority lying with Congress. 3. At all costs! Germany's economic reform declaration triggers a frenzy in German bond yields On Tuesday evening, the CDU/CSU and SPD, who were discussing the formation of a coalition government, held a press conference, announcing a series of major economic policy reforms, including establishing a 500 billion Euro infrastructure fund, while also seeking to relax the restrictions on debt brakes in Germany's constitution and exempting defense expenditures exceeding 1% of GDP. In addition, the 16 state governments of Germany are allowed to borrow loans equivalent to 0.35% of their economic output to further enhance performance. During the highly anticipated press conference, Friedrich Merz, expected to be the next German Chancellor, openly shouted the slogan "Whatever it takes." 4. Trump slams South Korea: Accepting US help but imposing 4 times higher tariffs on the US On March 4th local time, US President Trump delivered his first State of the Union address of his second term. In his speech, he mentioned the recent tariffs that have stirred global markets and particularly criticized one of its Asian allies - South Korea. "Many other countries charge us higher tariffs than we charge them. This is very unfair," Trump stated. He specifically called out South Korea, saying South Korea's average tariff rate on the US is 4 times higher than the US's tariff rate on South Korea. Regarding investment opportunities that the market is paying attention to, such as mining power, etc.Angchun Faway Automobile Components: Will establish a production manufacturing base in Changchun.11. Dalian Insulator Group: Subsidiary is expected to win a bid for a 2.49 billion yuan project from State Grid. Negative announcements: 1. Gpro Titanium Industry: The 3.45% stake held by the controlling shareholder of the company will be auctioned off by the court. 2. Sichuan Huafeng Technology: Projects related to Siasun Robot & Automation are still in the research and development process. 3. Yunding Technology: The company's business situation and internal and external operating environment have not undergone significant changes recently. 4. Fujian Longxi Bearing (Group) Co., Ltd.: The company's joint bearings for humanoid Siasun Robot & Automation products are still in the research and development stage. 5. Changsha DIALINE New Material Sci. & Tech.: Due to industry factors, the estimated amount of the agreement with Customer A and the actual transaction amount differ significantly. This article is reprinted from "Tencent Self-selected Stocks". GMTEight Editor: Xu Ran.