5/1/2021 Financial News: CCP Grants Import Value-added Tax Rebate; Juneyao Airlines Takes Over HNA’s Aviation Assets

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1.China Grants 70% Import Value-added Tax Rebate for Imported Natural Gas Under The Long-term Gas Contract Signed Before The End Of 2014

The Ministry of Finance of the People’s Republic of China recently issued a notice stating that the import value-added tax will be refunded to a certain proportion of qualified imported natural gas. Among them, 70% of the imported natural gas under the long-term trade gas contract signed before the end of 2014 and confirmed by the National Development and Reform Commission Proportion returns. For other natural gas, if the import price is higher than the reference benchmark value, the import value-added tax will be refunded according to the inverted ratio of the item’s import price and the reference benchmark value.

2.Juneyao Airlines Suspected of Taking Over HNA’s Aviation Assets

On the evening of April 29, Juneyao Airlines issued an announcement that it planned to establish a new company and use the new company to invest in aviation entities. At present, Hainan Airlines has entered the stage of bankruptcy and reorganization. The market believes that the new company established by Juneyao Airlines this time is very likely to invest in the acquisition of the main aviation sector under *ST Hainan Airlines (SH: 600221). As of the midday close on April 30, Juneyao Airlines’ stock price was at 14.98 yuan per share, an increase of 0.4%, and the market value was about 29 billion yuan.

3.The China Securities Regulatory Commission Drafts New Rules To Unify Ipo Guidance And Acceptance Rules

On April 30, the China Securities Regulatory Commission drafted and issued the “Regulations on the Supervision of Initial Public Offerings and Listing Guidance (Draft for Comment)”, which clarified that “guidance and acceptance is not an audit procedure for companies to go public.” The spokesperson said that the counseling acceptance should be an evaluation of the development and effectiveness of the counseling work of the counseling organization, and no substantive judgments on whether the counseling target meets the requirements for issuance and listing. In addition, the method of tutoring acceptance and the time limit of tutoring work have also been re-clarified in the new regulations released this time.

4.Dongguan Property Market: Within One Year Of Obtaining A Certificate For A New House, House Prices Must Not Increase By More Than 3%

Recently, Dongguan has stipulated that the space for raising the record price of new homes should be controlled within 5%, and the interval for raising the selling price of unsold newly-built commercial housing shall not exceed 3% one year after obtaining the current sale record certificate. The interval for lowering the sales price remains unchanged for six months, and the rate of decrease is unlimited. In addition, development companies should strictly implement the clear price marking system for commercial housing sales, implement clear price marking and “one room, one price”, and disclose all the available listings and the price of each house at one time within 10 days of obtaining the current sales record certificate.

5.Weilai’s First Quarter Financial Report Is Released: Total Revenue Is Nearly 8 Billion Yuan, And It Still Faces The Challenge Of Chip Shortage In The Second Quarter

On April 30, (Weilai)NIO announced its financial results for the first quarter of 2021. The financial report shows that the total revenue of NIO Automobile in the first quarter of 2021 is about 7.982 billion yuan (the same below), an increase of 481.8% year-on-year; the comprehensive gross profit margin was 19.5%, compared with -12.2% in the same period last year. While the financial data is growing, the terminal sales of NIO Automobile are also steadily increasing. In the first quarter of this year, NIO’s cumulative delivery volume was approximately 20,100, and for the first time a single-season delivery of 20,000 vehicles was reached, a year-on-year increase of 422.7% and a month-on-month increase of 15.6%.

6.EU Declares Apple ‘Abused Its Dominant Position’ Following Spotify Complaint

The European Commission stated this week that Apple has abused its power in the distribution of music streaming apps through its App Store following a complaint from Spotify.

The European Commission is the EU’s executive arm and opened an antitrust investigation into Apple’s App Store last year after the music streaming platform Spotify complained in 2019 that Appel’s license agreements were unfair. On Friday, the EU stated that it took issue with the “mandatory use of Apple’s own in-app purchase mechanism imposed on music streaming app developers to distribute their apps via Apple’s App Store.” Apple stated in its response that the EU’s case was the “opposite of fair competition.”

By 【Financial Team – 雪梨Cheli】

News Collection: Totoro

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