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1.China Internet of Things: The Global Manufacturing Industry Maintains a Recovery Growth Trend in the Third Quarter

According to data released by the China Federation of Logistics and Purchasing on October 6, from the perspective of the third quarter, the global manufacturing industry maintained a recovery growth trend, but the growth rate has slowed down. The average global PMI in the third quarter remained at a relatively high level of 55.9%, but it was down 1.1 percentage points from the second quarter. China IOT said that with the advancement of economic recovery, some issues worthy of attention have also arisen. First, demand recovery is weaker than production, and the structural contradictions of economic recovery still exist. Second, global commodity prices have risen too quickly, and global inflationary pressures have gradually emerged. Third, the risks of rising global debt continue to accumulate.

2.Default Amount of Real Estate Bonds Has Reached 46.75 Billion Yuan, a Year-on-year Increase of 159%

According to statistics from the Crane Research Center on October 6, many developers including China Fortune Land Development (600340.SH) have experienced liquidity problems since 2021. As the capital chain tightens, the decline in the debt solvency of real estate companies is directly related to the bond market, which continues to cause the capital market to worry about real estate debt. According to the statistics of CRIC, the number and amount of defaulted bonds in 2021 far exceed the level of the same period in 2020. As of September 27, the cumulative number of defaulted bonds of real estate companies in 2021 reached 39, compared with 2020. There will be an increase of 25, and the cumulative amount will reach 46.75 billion yuan, an increase of 159% over 2020.

3.Takeaway Riders Are Not Protected by the Labour Law

Recently, Beijing Zhicheng Legal Aid and Research Center for Migrant Workers released the “Legal Research Report on Employment Models of Takeaway Platforms.” The “Report” pointed out that the platform is constantly evolving the employment mode of riders, and even 1.6 million riders are suspected to be registered as individual industrial and commercial households in order to break away from the protection of labor law. The judicial judgment results show that the labor relationship recognition rate between food delivery platforms and food delivery riders is now less than 1%.

According to the report, the employment model of the food delivery platform is constantly evolving, from directly recruiting riders to slowly outsourcing riders to some crowdsourcing service companies for management, in order to avoid risks and reduce costs. Moreover, this kind of crowdsourcing management model does not have only one level. Riders are often subcontracted layer by layer, and the daily management, signing of agreements, and wages may not be a company.

4.Tower System Has Become the Mainstream Technology For a New Batch of CSP Projects

At the beginning of September, the tower-type molten salt solar thermal power station in Naomaohu Town, Yiwu County, Hami County, Xinjiang, was successfully connected to the grid to generate electricity. It is expected to provide nearly 200 million kWh of clean electricity each year. In recent years, with technological progress, CSP is considered to be an emerging energy application technology with the potential to become a basic load power source.

The biggest advantage of the tower power station is that the heat transfer distance is short, the loss is small, the concentration ratio and temperature are high, and the scale is large. However, the disadvantage of the tower type is that it cannot be miniaturized and cannot establish a distributed system, so it occupies a lot of land and requires a large initial investment.

5.Zhimingda Buys Shares of Mingke Siwei at a Premium of 34 Times

An investment plan of Zhimingda (688636.SH) has attracted the attention of regulators. It is only because the underlying assets have seen a sharp decline in net assets in recent years and continuous losses. The net assets of 9.71 million have been assessed at 345 million.Zhimingda is a sci-tech innovation board company that just went public on April 8, 2021. It mainly provides customized embedded computer modules and solutions for military customers. Zhimingda disclosed that the company signed an “Investment Agreement” with Li Ming, Li Zhi, and Mingke Siwei, and invested 177.65 million yuan in its own cash to increase the capital of Mingke Siwei, and obtained 32.3 million yuan in registered capital  (corresponding to Mingke Siwei 34.99% equity after slight capital increase).

6.Rail Transit Investment Exceeded 80 Billion for Five Consecutive Years

In Shanghai, Jiangsu, Zhejiang and Anhui, railway construction sites are dotted and new railways crisscross. Railway infrastructure investment has exceeded 80 billion yuan for five consecutive years. The operating mileage of high-speed rail has exceeded 6,000 kilometers. It has become the densest high-speed rail network and the most convenient transportation in China. One of the regions.

Recently, the preliminary design of the second phase of the Shanghai-Sutong Railway (Taicang to Si Tuan Section of the Shanghai-Nantong Railway) was approved, and construction is about to enter the commencement stage. This new line will set up Xuhang, Shanghai Baoshan, Waigaoqiao, Shanghai Dong, Si Tuan and other stations in Shanghai. After completion, the model of Shanghai Hongqiao Comprehensive Transportation Hub will be replicated in Pudong, and this railway will become the first connection. The railway to Pudong International Airport.

7.Scale Increased By 213% Year-On-Year And Public Offerings Set Off A Wave Of Fixed Growth

Wind data shows that as of September 30, 1945 public funds have participated in private placement with a total of 63.47 billion yuan, accounting for 12.19% of the total fundraising quota and the scale has increased by 213% year-on-year. Wind data shows that as of September 30, more than 70% of the projects participated by public funds during the year achieved floating profits, with an average yield of 26.38%. Among them, the two funds of Dacheng Emerging Industries and Dacheng Ruijing Funds participated in Yuntianhua’s fixed growth rate of more than four times, reaching 427%. Eleven funds including Dacheng Optimum, China International Investment JP Morgan Industry Choice, China International Investment Morgan Core Growth, etc. have participated in Tianhua’s ultra-net fixed growth rate of 335%; in addition, Jinchen shares, Duo Fluoride, Hezong Technology and other stocks have fixed growth rates. The income is also over 140%.

8.Beijing’s Property Market Slumped in Golden Season

The reporter’s on-site investigation found that the “school district housing” market, which was hotly traded more than three months ago, is no longer lively. The real estate agency in Yemen is very busy. At present, the online quotations of some second-hand houses in Beijing have also dropped, and even so, their quotations are also relatively high. When the actual buyers and sellers bargain, the sellers often lower the prices by one hundred thousand yuan or even one million yuan.

【G Translators- Financial Team】
Author: 和理非