Hi everyone. I’m Stephanie LI.
大家好，我是主持人李瑩亮。
Coming up on today’s program.
重點提要
Chinese automobile stocks soared on higher car sales by leading carmakers;
Nearly 160 Shanghai-traded firms report profit growth in Q3.
Here’s what you need to know about China in the past 24 hours
中國經濟要聞
Chinese automobile stocks rallied on Tuesday on back of remarkable sales in leading manufacturers as well as a raft of policies to support the stable expansion of domestic automobile market.
China's biggest electric car maker BYD jumped by 5 percent by Tuesday’s close with over 700 billion yuan in market value. The company announced on Monday night that third-quarter profit may jump by up to 365 percent, whereas its profit for the first three quarters of the year may grow by 289 percent, due to robust sales and a better product mix. Hong Kong-traded Brilliance Auto surged 15.9 percent by the close, while Geely and GAC rose 4.4 percent and 2 percent respectively.
In the first three quarters of the year, the auto industry showed a recovery momentum, driven by a series of policies to promote consumption and stabilise growth. SAIC Motor and GAC Group reported growth in both production and sales. SAIC sold 517,100 units in September, a monthly record high this year. GAC’s sales soared over 20 percent in the first three quarters compared with the same period last year.
China's passenger car market saw sales of 1.9 million units in September, a year-on-year increase of 21 percent, driven particularly by new-energy vehicles (NEVs), the latest data from the China Passenger Car Association (CPCA) showed.
Meanwhile, China's automobile exports continued their strong momentum in September, cementing the country's newly earned position as the world's second-largest vehicle exporter. Total exports in the first three quarters hit 2.12 million units, up 55.5 percent on a yearly basis, and surpassed the total in 2021, according to data from China Association of Automobile Manufacturers.
It is expected that the country's automobile output and sales would continue robust rebound in the fourth quarter as the economic situation continues to improve, supported by a range of policies targeting economic stability.
促消費政策疊加傳統消費旺季，汽車產銷有望繼續較快增長。
今日A股和港股中，汽車股表現搶眼，新能源車巨頭比亞迪A股開盤大漲7%，股價一度沖上279元/股，截至收盤漲5%，總市值重回7000億元。港股汽車股反彈，華晨中國漲15.93%，比亞迪股份漲6.22%，吉利汽車漲4.36%，廣汽集團漲2%。
10月17日晚間，比亞迪發布業績預告稱，預計前三季度歸屬于上市公司股東的凈利潤為91億元至95億元，同比增長272.48%至288.85%。預計第三季度歸屬于上市公司股東的凈利潤55億元至59億元，同比增長333.60%至365.11%。
比亞迪此前披露的產銷數據顯示，2022年1至9月，新能源汽車銷量約118萬輛，同比增長249.56%，前三季度銷量超過特斯拉交付的90.86萬輛。
據中汽協數據，2022年1-9月，國內新能源汽車產銷量分別達到471.7萬輛和456.7萬輛，同比分別增長1.2倍和1.1倍。同時，汽車出口保持同比強勢增長，9月出口30.1萬輛，同比增長73.9%。新能源汽車出口5萬輛，同比增長超過1倍。1-9月，汽車企業出口211.7萬輛，同比增長55.5%。新能源汽車出口38.9萬輛，同比增長超過1倍。
信達證券研報認為，“金九銀十”為傳統消費旺季，地方政策密集出臺，新品數量遠強于過去兩年同期。6-8月疫情緩解后消費釋放，同時車購稅減半政策進入平穩的實施中期，前端消費和政策推動拉動車市不斷向好，加上各省紛紛延續政策，配合“金九銀十”銷售旺季，因此目前車市態勢總體良好，零售實現同比較高增長。
Moving on to regional highlights
區域觀察
The world’s largest coal chemical project under construction successfully kicked off a demonstration project with an annual capacity of 1.8 million tons in Yulin, Shaanxi Province, with polyester grade ethylene glycol products rolling off production lines, according to the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on Monday. The project is expected to lower the country’s imports of related products and improve the quality of high-end chemicals.
全球在建最大煤化工項目一次性開車成功：近日，由陜煤集團榆林化學有限責任公司負責的全球在建最大煤化工項目——煤炭分質利用制化工新材料示范項目180萬噸/年乙二醇工程單系列一次性開車成功，順利產出聚酯級乙二醇產品。據了解，煤炭分質利用制化工新材料示范項目總占地面積2.31萬畝，計劃總投資約2315億元。
Greater Bay Area, Greater future
新使命，大未來
Hong Kong’s Chief Executive John Lee Ka-chiu’s first Policy Address will focus on land and housing shortages, economic stimulation, livelihood improvements, and plans to further bolster the city’s competitiveness. Lee unveiled the focal points before the Executive Council meeting on Tuesday morning, a day before he is scheduled to deliver the much-anticipated Policy Address. Lee also showed the printed version of his first Policy Address, which has a green cover, representing hope, vitality, harmony and stability, he said.
施政報告將聚焦發展經濟改善民生：香港特區行政長官李家超將于本周三（19日）發布上任后首份《施政報告》，香港社會各界翹首以待。他18日表示，會在《施政報告》中提出關于發展經濟、改善民生的政策及措施，包括土地房屋問題，以及如何加強香港的競爭力等。李家超指出，今次《施政報告》的封面選用綠色，代表希望及生命力，亦代表和諧穩定。
Next on industry and company news
產業及公司新聞
Chinese silicon wafer giant Wuxi Shangji Automation said it has landed standing orders from photovoltaic cell and panel maker DAS Solar and one of its units worth 9.4 billion yuan. DAS Solar and a subsidiary will buy 825 million pieces of ordinary monocrystalline silicon wafers from two Shangji units between January 2023 and December 2024, Shangji said yesterday, citing a contract signed by the four parties. A unit of Shangji will also provide 300 million pieces of N-type monocrystalline silicon wafers to DAS Solar next year, Shangji said in a separate statement the same day.
上機數控斬獲94億硅料大單：上機數控10月17日晚公告稱，全資子公司弘元新材、弘元徐州與一道衢州、一道泰州就“單晶硅片”銷售簽訂合同。對方自2023年1月至2024年12月總計向兩家子公司采購單晶硅片8.25億片（上下浮動不超過20%），預計2023-2024年銷售金額為62.04億元（含稅）。除了上述“單晶硅片”訂單外，弘元徐州還與一道衢州、一道泰州就“N型硅材料產品”銷售簽訂合同。根據協議，二者在2023年總計向弘元徐州采購N型硅材料產品3億片（上下浮動不超過20%），預計銷售金額為31.92億元（含稅）。
Chinese supplier of light-emitting diode displays Longli Technology said it will partner with Robert Bosch for the first time to supply the latter with US$421 million of in-vehicle screens in nine years. The Chinese firm will ink a contract to supply the German equipment manufacturer with mini-LED backlight modules for vehicles between 2025 and 2033, the Shenzhen-based company said in a statement on Monday.
隆利科技獲博世4.2億美元訂單：隆利科技10月17日午間公告顯示，公司擬與Robert Bosch GmbH（德國博世集團）簽署合同，公司擬為德國博世提供2025-2033年所需的車載Mini-LED背光顯示模組產品，合同金額約4.21億美元，約折合人民幣30.27億元。
Yunding Technology’s shares jumped by the daily trading limit on Monday after the unit of coal mining giant Shandong Energy Group announced a partnership with Huawei Technologies on smart mining technology. Under the deal signed earlier in the day, Yunding, which specialises in information technology services and industrial smart applications, will be a Huawei authorized dealer and promote the implementation of related cooperation projects in a smart mine tech project between Huawei and its parent company, the firm said Monday.
云鼎科技牽手華為：10月17日午間，云鼎科技發布公告稱，公司與華為技術有限公司簽訂框架合作協議，雙方將圍繞能源行業產業數字化和數字產業化發展方向，形成緊密協作的數字化創新模式，加快推動物聯網、大數據、人工智能、區塊鏈、5G等新一代信息技術在全要素、全產業鏈、全價值鏈中的深度融合應用。云鼎科技周一午后開盤秒封漲停板。
Chinese marketing service provider Rego Interactive closed 111 percent higher than the offer price of HK$0.64 on its trading debut on Monday, as it raised about HK$100 million from the offering. The company had one of the best IPOs this year, following China Graphite whose share price soared by 143 percent on its trading debut.
潤歌互動上市首日大漲：10月17日，潤歌互動在港交所上市，盤中一度大漲近150%。截至收盤，潤歌互動報1.350港元，上漲110.938%，港股市值13.50億港元。
Earnings reports express
財報速遞
Of the 165 firms traded on the Shanghai Stock Exchange that disclosed their earnings for the third quarter, 159 of them have reported annual growths. Most companies achieving annual growth in the quarter ended Sept. 30 are in the new energy, automotive, pharmaceutical, and biological industries. Some 129 of them saw their net profit jump over 30 percent, 102 of which more than 50 percent.
超九成三季報預喜：截至10月17日晚間，滬市共有165家公司（含科創板28家）披露或預告三季度業績信息。上述公司中，有159家凈利潤保持正增長，預喜家數占比超九成；129家公司凈利潤增速超30%，102家公司凈利潤增速超50%。70家披露或預告收入數據公司中，65家實現同比增長。
Chinese medium and small-sized banks expect steady growth in the third quarter, as Bank of Hangzhou and Bank of Jiangsu both forecast net profit to grow over 30 percent in the period. Bank of Chengdu, Changshu Rural Commercial Bank and Suzhou Rural Commercial Bank have recently disclosed their performance in the first nine months, with net profit of the three banks increased by 36 percent, 25 percent and 21 percent year on year, respectively.
中小銀行三季報亮眼：10月17日晚，杭州銀行和江蘇銀行發布業績預告。2022年前三季度，兩家銀行的歸母凈利潤同比增長率分別達到31.82%和30%至32%。日前，成都銀行、常熟銀行、蘇農銀行也公開了2022年前三季度預計業績情況，3家銀行歸母凈利潤較去年同期分別增長35.91%、25.24%和20.62%。
Switching gears to financial news
金融市場消息
Nearly 100 companies listed on the Chinese mainland have said that they have plans for share buybacks after the country’s securities regulator said it is mulling making it easier for listed companies to repurchase their own stock. From January to September this year, over 500 listed firms have repurchased more than 100 billion yuan worth of shares.
百家上市公司火速回購：17日據媒體統計，自證監會10月14日修訂上市公司股份回購規則后，滬深兩市上市公司累計發布近百份回購、增持計劃公告。另據數據顯示，今年前三季度，滬深兩市合計，今年500余家上市公司回購金額超千億元。
E Fund Management, China’s largest public fund company, and five other Chinese asset managers set out plans to buy 660 million yuan of their own fund products to boost market confidence. E Fund plans to invest 150 million yuan in its equity funds on Monday, while Southern Asset Management, Universal Asset Management, and GF Fund Management said the same day that they intend to invest 100 million yuan, respectively, to buy their own funds.
多家基金公司宣布自購：10月17日，易方達基金、廣發基金、匯添富基金等多家基金管理人發布公告稱，將運用固有資金投資旗下基金。截至記者發稿，相關機構公告的自購金額合計已超過6億元，多數機構自購旗下權益類基金。廣發基金表示，將于近日運用固有資金合計1億元投資旗下權益類基金。易方達基金表示，將于近日運用固有資金合計1.5億元投資旗下權益類基金；南方基金將以固有資金投資旗下3只基金，合計出資1億元；匯添富基金旗下匯添富投資管理有限公司也決定于10月17日出資1億元投資公司旗下公募基金。
Wrapping up with a quick look at the stock market
股市收盤情況
Chinese stocks closed mixed on Tuesday as the NDRC said China’s GDP “rebounded significantly” last quarter. The benchmark Shanghai Composite finished down 0.13 percent, while the Shenzhen Component added 0.23 percent. Hong Kong stocks advanced for a third day amid signs of better corporate earnings. The Hang Seng climbed 1.82 percent as the Tech Index jumped 4.25 percent.
A股窄幅震蕩港股拉升：周二A股三大指數窄幅震蕩，截至收盤，滬指跌0.13%，深成指漲0.23%，創業板指漲0.49%，滬深兩市全天成交額7938億元。港股一度高開低走，但此后再度大幅拉升。恒生指數收漲1.82%，恒生科技指數漲4.25%，大型科技股普漲。
Biz Word of the Day
財經詞匯劃重點
Ethylene glycol is an organic compound mainly used as a raw material in the manufacture of polyester fibres and for antifreeze formulations. It is an odorless, colorless, flammable, viscous liquid.
乙二醇又名甘醇，簡稱EG，化學式為(CH2OH)2，是最簡單的二元醇。乙二醇是無色無臭、有甜味液體，對動物有低毒性，乙二醇能與水、丙酮互溶，但在醚類中溶解度較小。用作溶劑、防凍劑以及合成滌綸的原料。
Executive Editor: Sonia YU
Editor: LI Yanxia
Host: Stephanie LI
Writer: Stephanie LI
Sound Editor: Stephanie LI
Graphic Designer: ZHENG Wenjing, LIAO Yuanni
Produced by 21st Century Business Herald Dept. of Overseas News.
Presented by SFC
編委: 于曉娜
策劃、編輯：李艷霞
播音：李瑩亮
撰稿：李瑩亮
音頻制作：李瑩亮
設計：鄭文靜、廖苑妮
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