A-share evening hotspots | 600 billion incremental funding! Two top-tier securities firms jointly set up asset management plans to invest in listed companies both domestically and internationally.

Today's evening news worth paying attention to include: 1. The Central Political Bureau of the Communist Party of China: to vigorously promote the construction of a modern industrial system and accelerate the development of new productive forces 2. New rules for counter bond business! Favorable for the development of multi-level bond markets and increase residents' property income 3. 600 billion incremental funds! Two top securities firms jointly establish an asset management plan to invest in domestic and foreign listed companies 4. Shandong exempts hydrogen energy sector outbreak! Many listed companies respond one after another 5. Lasting for 51 days! The Shanghai Composite Index ranges from 3000 to 3000, with only 14% of stocks regaining lost ground Please see the evening news below: 1. The Central Political Bureau of the Communist Party of China: to vigorously promote the construction of a modern industrial system and accelerate the development of new productive forces Importance: The Central Political Bureau of the Communist Party of China held a meeting on February 29th to discuss the draft of the "Government Work Report" to be submitted for review at the Second Session of the Fourteenth National People's Congress. The meeting emphasized the need to vigorously promote the construction of a modern industrial system and accelerate the development of new productive forces. It called for the implementation of the strategy of rejuvenating the country through science and education, focusing on expanding domestic demand, steadfastly deepening reform, expanding high-level opening to the outside world, and effectively preventing and resolving risks in key areas. 2. New rules for counter bond business! Favorable for the development of multi-level bond markets and increase residents' property income Importance: The People's Bank of China officially issued the "Notice on Matters Concerning Counter Bond Market Business in the Interbank Bond Market" to further expand the variety of bond investment products in the counter market, facilitate bond investments for residents and other institutional investors, to be implemented from May 1, 2024. Industry experts pointed out that counter bond trading is flexible and highly liquid. The yield on counter bonds is higher than that of bank deposits of the same term, satisfying residents' need for low-risk and stable returns. Counter bond business can broaden residents' investment channels and increase their property income. 3. 600 billion increment funds! Two top securities firms jointly establish an asset management plan to invest in domestic and foreign listed companies On February 28th, China Asset Management announced its intention to invest in a single asset management plan established by China Securities Co., Ltd. with no more than 40 billion yuan, investing in high-quality assets of listed companies in domestic and foreign markets (including but not limited to bonds, stocks, etc.). A month ago, China Asset Management also reached a similar cooperation with CITIC SEC. It is reported that China Asset Management has jointly entrusted funds to CITIC SEC and China Securities Co., Ltd., with a total amount not exceeding 60 billion yuan. 4. Two departments: Before March 15th, cities at the prefecture level and above must establish financing coordination mechanisms According to the deployment of a special meeting of the State Council, on the morning of February 29, 2024, the Ministry of Housing and Urban-Rural Development and the China Banking and Insurance Regulatory Commission jointly held a video conference to coordinate the work of the urban real estate financing coordination mechanism. The meeting emphasized that all regions should solidly carry out relevant work related to the financing coordination mechanism, focusing on the quality of project "white list," progress in work, project construction, and publicity guidance. Following the principle of "building as much as possible," by March 15th, cities at the prefecture level and above must establish financing coordination mechanisms, not only to complete the "white list" promotion with high quality but also to efficiently coordinate and resolve the difficulties in project implementation. 5. Shenzhen Stock Exchange holds a symposium: Promoting the rapid formation of new productive forces, companies attending are involved in advanced manufacturing and other fields Importance: On February 28th, the Shenzhen Stock Exchange organized a symposium for listed companies to learn about the development of enterprises and industries, and to extensively solicit opinions and suggestions on strengthening the capital market and the construction of the Shenzhen Stock Exchange, accelerating the formation of new productive forces, and promoting the high-quality development of the economy. The companies attending this symposium include outstanding representatives from foundational industries as well as innovative benchmarks in emerging industries, covering various fields such as advanced manufacturing, digital economy, green and low-carbon, biomedicine, and consumer retail. 6. Shandong exempts hydrogen energy sector outbreak! Many listed companies respond one after another Importance: On Thursday, the news that Shandong Province will exempt hydrogen fuel vehicle tolls on expressways ignited the capital market. It is reported that the relevant regulations will be officially implemented from the 1st of next month, and the relevant departments in Shandong Province are actively implementing the details of this policy document. Possibly influenced by this, the A-share hydrogen energy sector collectively exploded, with many hydrogen energy concept stocks hitting the limit up. After-hours, many companies responded: 1. Shanghai Tianyong Engineering, up four consecutive trading days: the company has no hydrogen energy-related products generating revenue 2. Qingdao Copton Technology, up two consecutive trading days: a controlling subsidiary Qingdao Hydrogen Trading Co., Ltd. is still in the early stages of business development 3. Xiong'an New Power Technology, up two consecutive trading days: there have been no major changes in the company's fundamentals 4. Beijing Jingcheng Machinery Electric, up two consecutive trading days: hydrogen storage tanks and other related products have limited contribution to the company's performance 7. Lasting for 51 days! The Shanghai Composite Index ranges from 3000 to 3000, with only 14% of stocks regaining lost ground Importance: On February 29th, all three major indexes saw a collective surge, with the ChiNext Index and the Shenzhen Component Index both rising by over 3%, and the Shanghai Composite Index also up by nearly 2%, ending a six-day monthly decline. Among them, the Shanghai Composite Index once again regained the 3000-point mark. From the loss of the 3000 points since December 12th last year to now regaining it has taken 51 trading days, showing a "V-shaped" trend. Although the index's recovery has boosted market confidence, for individual stocks, the "road to break-even" remains long. Even considering the situation during this round of trading from "3000 to 3000" with the Shanghai Composite Index, excluding new stocks, A-shares have averaged a drop of nearly 14.4%. Among them, only about 750 stocks have completely regained lost ground, accounting for 14.1% of the entire A-share market. This also means that 85.9% of stocks have not been able to "return to their original state" after this round of recovery. 8. How to view the market in March, which sectors have bigger opportunities? Institutional investment strategies suggest looking ahead Importance: On the last trading day of February, the market saw a positive turn. The trend is surging, recovering from yesterday's long shadow. The chip manufacturing industry chain and the new energy sector represented by hydrogen energy are leading the way.Looking ahead to March, institutions believe that the A-share market in March is expected to continue to warm up, and recommend a stable approach. It is advised to strategically allocate value stocks in sectors such as technology, upstream raw materials, and electricity. Another fund has announced the early closure of its A50ETF subscription. Importance: In the Year of the Dragon, 10 fund companies released their first issue of the CSI A50ETF, becoming a market focus. Following announcements from Morgan CSI 50ETF and Ping An CSI 50ETF to end subscriptions early, another A50ETF announced the same on Thursday! Da Cheng Fund announced that the Da Cheng CSI A50ETF will advance the subscription deadline to February 29. Information from channels shows that the first batch of A50ETF issuances has garnered attention from various market participants, with investor subscriptions showing strong interest. Currently, the scale of the first batch of 10 products has exceeded one hundred billion yuan. In addition, the following news is also worth noting: -Guangxi: Enriching digital financial consumption scenarios, strengthening financial support for five key sectors -The Ministry of Industry and Information Technology convenes the seventh manufacturing enterprise symposium: Developing leaders in new quality production. 1. US stocks open collectively higher, HP drops more than 3%. US stocks opened collectively higher, with the Dow up by 0.18%, the Nasdaq up by 0.70%, and the S&P 500 up by 0.42%. HP dropped more than 3% as its first quarter performance was below expectations, with a 5% decline in revenue from its commercial personal computer business. Snowflake fell by over 20% as its 2025 fiscal year Q1 and full-year product revenue guidance fell short of expectations, and the CEO announced departure. 2. The SEC is investigating whether OpenAI misled investors. The US Securities and Exchange Commission is investigating whether OpenAI misled investors and issued a subpoena to OpenAI last December. The SEC is reviewing internal communications of OpenAI CEO, Ottman. 3. Core PCE price index in the US rose by 2.8% year-on-year in January, the smallest increase since March 2021. In terms of investment opportunities, the aviation industry, Northbound capital holdings, and other areas are receiving attention.Hydrogen energy related products.3. Qingdao Copton Technology, which is a subsidiary of Qingdao Hydrogen Starting New Energy Technology Co., Ltd., is currently in the early stages of business development. 4. Beijing Jingcheng Machinery Electric, which includes hydrogen storage tanks and related products, has limited contribution to the company's performance. 5. Xiong'an New Power Technology, which has not had any major changes in its fundamentals at this time.