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Wuchan Zhongda Issues 2 Billion Yuan Medium-Term Bonds
Citic Sec: Banks sector is expected to continue to recover positions, recommending two main lines.
As of Q2 2024, banks accounted for 2.45% of the heavyweight stocks held by active funds, up 0.21pct from Q1 2024.
Shenzhen Expressway Sells 1.5 Billion Yuan of Commercial Paper
Bank stocks are rising collectively. Bank of Chongqing (01963) rose by 2.8%. Institutions point out that interest rate cuts are not bad for the mid-term fundamentals of banks.
Jinwu Finance News | Bank stocks rise collectively, cqrc bank (03618) up 3.63%, bank of chongqing (01963) up 2.8%, agricultural bank of china (01288) up 2.65%, postal savings bank of china (01658) up 2.19%, bank of communications (03328) up 2.12%, industrial and commercial bank of china (01398) up 2.1%, china citic bank corporation (00998) up 1.98%. GF Sec stated that in the short term, LPR cuts will reduce bank interest rate spreads. If the central bank hedges or the government launches fiscal stimulus, bond yield spreads may widen and interest rate pressure may be alleviated.
Lvji Tech: Shanghai Pudong Development Bank will grant 10 million yuan financing to Lvji International.
Lvji Tech (01745) announced that on June 20, 2024, its wholly-owned subsidiary, Lvji Tech Group Co., Ltd., and the Dongguan Branch of Industrial Bank Co., Ltd. signed a fixed asset loan agreement, with Industrial Bank granting a loan of 43 million yuan to Lvji Tech for the purpose of paying for the data collection expenses of the online electronic navigation intangible asset project purchased by Lvji Tech and Guangzhou Lvji Digital Technology Co., Ltd. On the same day, Lvji Digital, a wholly-owned subsidiary of Lvji Tech, and Industrial Bank also signed a fixed asset loan agreement, with Industrial Bank granting a loan of 43 million yuan to Lvji Digital for the purpose of paying for the expenses incurred by Lvji Tech and Lvji Digital.
GTJA Securities: Diluting the obsession with scale and embracing the new norm of social financing.
PBOC Governor Pan Gongsheng pointed out at the Lujiazui Forum that when the growth of monetary and credit has shifted from supply constraints to demand constraints, if the focus is still on the increase in quantity even in the presence of a "size bias", it obviously contradicts the laws of economic operation. It is expected that the motivation behind banks using bills to pledge loans will significantly weaken, and more attention will be paid to the adjustment of loan structure and improvement of business quality and efficiency. Both social financing and credit will enter a "new normal" of growth.
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