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Kweichow Moutai's performance in the first three quarters meets expectations. The timing for interim dividends and buybacks has not been determined yet. | Interpretations
①Kweichow Moutai's third-quarter earnings announced tonight basically meet expectations, with revenue growth exceeding the annual guidance; ②The proportion of direct sales in the first three quarters of this year has declined, which is related to the poor performance of the company's direct sales platform "i Moutai". In the first three quarters, i Moutai achieved a tax-free revenue of 14.766 billion yuan for alcoholic beverages, a slight decrease compared to the same period last year; ③Against the backdrop of current consumer softness, it is highly anticipated whether Kweichow Moutai will lower its operation targets next year.
Zijin Mining Group: It is expected that the second phase of the Julong Copper Mine will start trial production in the first quarter of 2026, with annual copper production expected to exceed 0.3 million tons | Directly impacting the earnings conference
1. Longfeng Copper Mine Phase II Expansion Project is expected to achieve trial production in the first quarter of 2026; 2. After the completion of the expansion of Phase II, the annual copper production will exceed 0.3 million tons; 3. The company stated that the downward trend in lithium prices will continue in the short term.
Nine joint-stock banks have followed suit today, with seven banks including Everbright and Guangfa announcing a reduction in the deposit benchmark interest rates, with the highest fixed deposit rate cut by 25 basis points.
①The current banks have started a new round of deposit rate cuts, which is of great significance in maintaining interest margins, thereby ensuring the stable operation of commercial banks and increasing the support for financing the real economy continuously. ②This round of bank deposit rate cuts is expected to basically offset the impact of various loan rate cuts on net interest margins.
Share buyback shareholding loans quickly landed! ICBC, BOC, ABC, CMB, CITIC and other first batch of multiple banks announced progress. Some banks have already shown cooperation intentions with nearly a hundred listed companies.
1. As of now, Bank of China has reached cooperation intentions with nearly a hundred listed companies, with 32 listed companies explicitly promised loans, covering multiple industries such as integrated circuits, transportation, high-end manufacturing, and business services; 2. The banks stated that they will strictly adhere to the risk compliance bottom line, rigorously prevent crediting funds that do not meet the conditions of stock increase stake & buyback and refinancing policies from illegally flowing into the stock market.
Insurance funds are accelerating portfolio adjustments, ping an insurance-related private equity funds plan to reduce shareholding in two gem companies, at least 6 listed companies in this round of market have been reduced by insurance funds.
①CIMC Vehicles and Range Intelligent Computing Technology Group, two gem companies, disclosed on the same day that they are expected to be reducing their holdings by multiple private equity fund shareholders, all of whom are related to Ping An Insurance. ②Recently, insurance funds have accelerated their portfolio adjustments, with at least six A-share companies being targeted for shareholding reduction in this round of market trends. ③On October 9th, several leading insurance companies made statements, stating that they will further leverage the role of the capital markets as a "stabilizer" and "booster".
What happened during the National Day holiday at home and abroad? Here is a summary of important financial news.
①Shanghai Stock Exchange: From October 8th, the acceptance time for designated trading order instructions will be extended; Goldman Sachs has raised the Chinese stock market to "overweight", expecting a further increase of 15-20%; ②Hong Kong stocks are booming with a high increase in the number of new brokerage accounts and margin trading data within the past week; Many places have introduced optimized policies for real estate, and the market has responded positively.
