3/31/2021 Financial News: How Much Debt Does NHA have? Xiaomi Throws Tens Of Billions Of Dollars In Car Plan

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1.How much debt does HNA have in bankruptcy and reorganization?

*ST HNA (600221.SH), which has entered bankruptcy and reorganization, issued an announcement today, disclosing the progress of bankruptcy and reorganization. The announcement reveals that as of now, 1513 creditors have declared HNA Holdings stocks to the administrator, with a total declared amount of RMB 20,638 million.

At the same time, two other HNA listed companies *ST Jichu (600515.SH) and *ST Daji (000564.SZ) that have entered bankruptcy and reorganization also disclosed the latest claims in the bankruptcy reorganization progress announcement. The total amount of claims filed by the three listed companies has reached 398.9 billion.

2.Xiaomi throws tens of billions of dollars in car plan

Lei Jun said that he started investigating and building cars on January 15 this year. “I have visited Musk twice before, and I am very optimistic about the electric vehicle industry. I have invested in nearly 10 electric vehicle industry companies in the past. On January 15 this year, the board of directors recommended a study on the prospects of electric vehicles. Lei Jun announced that Xiaomi has officially entered the field of smart electric vehicles. At present, Xiaomi’s cash reserves are 108 billion yuan.

On March 30, Xiaomi Group (01810.HK) announced that the company intends to establish a wholly-owned subsidiary to be responsible for the smart electric vehicle business. The initial investment is RMB 10 billion, and the investment is expected to be USD 10 billion in the next 10 years.

3.Financial innovation will usher in more prudent and comprehensive supervision

The head of the relevant department of the China Banking and Insurance Regulatory Commission said that the deep integration of technology and finance has expanded the coverage of financial services, improved the efficiency of financial services, and improved the level of risk prevention and control. At the same time, it has also brought about network security, market monopoly, unclear data ownership, consumer rights protection and other issues, affecting market fairness and financial stability.

“These chaos are not caused by financial innovation itself, but by some Internet platforms and financial institutions arbitrage in the name of innovation and disrupt the market order. They are ‘pseudo-innovations’,” said Dong Ximiao, a part-time researcher at the Institute of Finance of Fudan University.

4.The number of new Chinese medicines on the market continues to decline

According to the drug review report issued by the National Medical Products Administration, in the five years from 2015 to 2019, there were 14 new TCM drugs approved for marketing, including 7 in 2015, 2 in 2016, 1 in 2017, 2 in 2018 , and 2 in 2019. Some media said that this is related to the inconsistency between the past new drug review standards and the characteristics of Chinese medicine. In addition, the performance pressures faced by listed Chinese patent medicine companies is also more obvious. Flush data shows that as of the end of 2020, 39 of the 70 listed Chinese medicine companies had their net profit declined.

5.Pork price tumbled 30%, Analyst: It will fall in the future

Entering March, the price of live pigs has continued to bottom out, the price of slaughtered pigs in some areas of the country fell by nearly 30% and the average price has fallen below the lowest point in nearly two years. According to statistics from Zhuo Chuang Information, as of March 30, the price of the standard pig market in Liaoning and Jilin has fallen to 23-23.6 yuan/kg, Heilongjiang 22-22.4 yuan/kg, Shandong 23.6-24.4 yuan/kg, Henan 24-24.4 yuan /kg.

6.India blocks bank accounts of Communist China’s ByteDance, company mounts challenge

ByteDance in January cut its Indian workforce after New Delhi decided to retain a ban on its popular video app TikTok, first prohibited last year following a border clash between India and Communist China. In mid-March, authorities ordered two of ByteDance India’s bank accounts in Citibank and HSBC to be blocked because of alleged evasion of certain taxes in online advertising dealings between the ByteDance unit in India and its parent entity in Singapore, TikTok Pte Ltd, the two sources said.

By 【Financial Team – 小海星Starfish】
News Collection: Wendy, Lingken
Proofreading: Tracy

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