[Today's headlines]

The Ministry of Industry and Information Technology is seeking public comments on the Action Plan for the High-Quality Development of the New Energy Storage Manufacturing Industry (Draft for Comments)

The Ministry of Industry and Information Technology publicly solicited comments on the action plan for the high-quality development of the new energy storage manufacturing industry (draft for comments). Among them, it is proposed that by 2027, the scale of the new energy storage manufacturing industry will basically match downstream demand, and 3-5 ecologically-oriented enterprises with a scale of 100 billion yuan or more will be cultivated.

The opinion draft proposes implementing innovative actions for new energy storage technology and developing diversified new energy storage technologies. Facing the needs of multiple time scales and multiple application scenarios such as short- and long-term electric energy storage, we will accelerate the diversified development of new energy storage technology and enhance the safety, reliability, economic viability and energy conversion efficiency of new energy storage products and technologies. Accelerate the iterative upgrading of mature technologies such as lithium batteries and supercapacitors, support disruptive technological innovation, and enhance the supply capacity of high-end products. Promote engineering and application technology research for sodium batteries, liquid flow batteries, etc. Develop long-term energy storage technologies such as compressed air to accelerate the improvement of technical economy and system energy conversion efficiency. Lay out ultra-long-term energy storage technologies such as hydrogen energy storage moderately ahead of schedule, encourage exploration and development of multiple types of hybrid energy storage technologies in line with application needs, and support basic research on forward-looking technologies such as batteries and heat storage and cold storage in new systems.

[General outlook]

The three major US stock indices collectively surged, and Tesla (TSLA.US) rose 14.75%

Overnight, US stocks closed up 1508.05 points, or 3.57%, to 43729.93 points; the NASDAQ rose 544.29 points, or 2.95%, to 18983.47 points; the S&P 500 rose 146.28 points, or 2.53%, to 5929.04 points. The Russell 2000 small-cap index closed 130.13 points higher, or 5.76%, to close at 2390.97 points. Nvidia (NVDA.US) rose to a record high of 3%, Tesla (TSLA.US) rose 14.75%, and Trump Media Technology Group (DJT.US) rose 6%. The Nasdaq China Golden Dragon Index closed down 1.8%, while Alibaba (BABA.US) fell 2.5%. The Hang Seng Index ADR declined. On a pro rata basis, it closed at 20447.74 points, down 90.64 points or 0.44% from the Hong Kong closing.

COMEX gold futures fell 2.97% to $2668.00 per ounce, continuing to break away from the all-time high of $2801.80 set on October 30. COMEX silver futures fell 4.59% to $31.270 per ounce. COMEX copper futures fell 5.28% to $4.2387 per pound.

[Hot preview]

Trump announced his victory in the 2024 US presidential election

In the early morning of the 6th local time, US Republican presidential candidate and former President Trump delivered a speech at the Palm Beach Convention Center in Florida to announce his victory in the 2024 presidential election.

What is the impact of Trump's election victory on Chinese photovoltaic companies going to the US to build factories

Since October this year, expectations for Trump to win the election have increased dramatically. The reporter noticed that at the time, some market opinions were worried that if Trump were to return to power, he might block the development of new energy sources in China by abolishing the IRA Act and other means. However, it is still uncertain whether Trump's inauguration will be bad or good for the Chinese PV companies that have gone to the US to build factories and the entire Chinese PV industry. For example, Trump's views on new energy have recently changed. In a televised debate in September, Trump stated that he is a “loyal supporter of solar energy.” “The US market has high demand, strong profitability, and high barriers to entry. It is still a high-quality market for new energy to go overseas.” The League of Nations Securities believes that the IRA bill may be difficult to abolish or shrink drastically due to differences in opinions within the Republican Party on the IRA bill that encourages the development of new energy sources, the diversification of the energy positions of Trump's current election campaign, and the IRA fund allocation is already sufficient and difficult to recover, so the US is still a high-quality market for new energy sources to go overseas.

The Federal Reserve's decision was postponed for one day due to the US election

Affected by the US election and winter time, the Federal Reserve will announce the interest rate decision at 03:00 a.m. on November 8, Beijing time. According to convention, the Federal Reserve held interest rate meetings on Tuesday and Wednesday, and announced the results of the resolution in the early hours of Thursday morning Beijing time, but this time coincided with voting in the US election, so the Federal Reserve's interest rate meeting was postponed for one day.

Huawei Announces Latest Sulfide Solid-State Battery Patent

On November 5, Huawei announced the latest sulfide solid-state battery patent, called “Sulfide-doped materials and their preparation methods, lithium-ion batteries”. The background of the invention patent is that during charging and discharging of sulfide solid-state batteries, there is a serious side reaction between the lithium metal anode and the sulfide electrolyte, which affects battery life. In this regard, the patent makes the sulfide-doped material have excellent stability to lithium metal by mixing materials including nitrogen, etc., and the prepared lithium-ion battery has a long service life. Previously, on October 8 and September 3, BYD also announced two major solid-state battery patents.

Agency: Global tablet shipments increased 11% year-on-year in Q3 2024 to 37.4 million units

According to a report by market research agency Canalys, in the third quarter of 2024, global tablet shipments increased 11% year-on-year to 37.4 million units. Driven by a recovery in consumer and commercial demand, the tablet market grew for the third consecutive quarter. Demand at the end of the back-to-school season, pre-holiday channel inventory preparation, and increased corporate IT spending all contributed to the development of the tablet industry.

Xiaopeng's fourth-generation robot is named Iron

He Xiaopeng, chairman of Xiaopeng Motors (09868), explained that Xiaopeng's fourth-generation robot was named Iron. I have now started working in a factory, taking the lead in focusing on scenes such as factories and stores. On Xiaopeng AI Technology Day, Chairman He Xiaopeng of Xiaopeng Motor introduced the progress of Xiaopeng L4 autonomous driving and said that Xiaopeng's wire-controlled steering system can eliminate the steering wheel, changing it from mandatory to optional, and users can hide or use it as needed. At the same time, L4 will develop Ultra models, and Ultra models will be developed globally to serve ROBOTAXI.

Dragon Resources (01712) obtained the final content of underground diamond core drilling activities in the Arpola region of the Jokisivu gold mine in southern Finland

According to the Zhitong Finance App, Dragon Resources (01712) announced that it has obtained the final content of underground diamond core drilling activities carried out in the Jokisivu Gold Mine (Jokisivu) Arpola region in southern Finland. The results presented in this report represent the last 12 boreholes of 19 holes at 220 m to 380 m levels in the Arpola vein system, 2641.00 m underground diamond core drilling activity (Arpola-1), 12 holes at 125 m to 160 m levels in the Arpola vein system, 1258.60 m drilling activity (Arpola-2), and 19 drilling activities at 240 m to 260 m and 280 m to 300 m in the Arpola vein system (Arpola- 3).

Jacossen Pharmaceutical (02633) Fa Yingxi expects medium-term profit to increase by more than 40% year-on-year

According to the Zhitong Finance App, Jacossen Pharmaceutical (02633) issued an announcement. The Group expects profit from continuing operations for the six months ending September 30, 2024 to increase by more than 40% compared to the same period last year. The significant increase in profit over the period from continuing operations was mainly due to the steady performance of generic drug businesses in the public and private sectors, as well as revenue contributions from new authorized products and strong launches of new products. Increased operating leverage in production facilities and corresponding cost savings due to effective cost control measures are also driving related growth.

Since the physical distribution of Kenbei Miao Miao (02161) shares as a special dividend, the company no longer comprehensively records the performance of Jianbei Miao Miao and its subsidiaries in the financial statements, it is expected that the profit attributable to the company's equity holders during the medium term will drop slightly by no more than 9% compared to the same period last year.

[Individual stocks are a bit clear]

Anhui Wantong Expressway (00995): China Post Insurance signs H shares of Wantong Expressway

On November 6, China Post Life Insurance Co., Ltd. issued an information disclosure notice on increasing and listing the H shares of Anhui Wantong Expressway Co., Ltd. According to the announcement, before this listing, China Post Insurance directly held 24.544 million shares of Wantong Expressway H shares, accounting for 4.9784% of its H share capital. On October 22, 2024, China Post Insurance bought 0.284 million H shares of Wantong Expressway to trigger H shares to be listed. The price of each share was HK$9.8912, for a total amount of about HK$2.8091 million. After this listing, China Post Insurance directly held 24.828 million shares of Wantong Express H shares, accounting for 5.0360% of its H share capital.

By the end of October, the fully closed construction of the Xuanguang Expressway was completed. Among them, the Wuxuan Expressway to Guangde West section and the Guangde East to Guangci section had achieved two-way traffic for a total of about 63 km, and the remaining section from Guangde West to Guangde East had one-way traffic. It is expected that eight lanes will be open in both directions by the end of December 2024. The negative impact of the renovation and expansion construction on traffic flow is expected to gradually be eliminated at that time. The road products under the company are all major transit national highway routes through the Anhui region. With the opening of the Ningxuanhang Expressway and Yuewu Expressway guillotine roads, the agency is optimistic that the road network will continue to boost traffic after it is completed.