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1.Most Popular Chinese Stocks Fall

Most of the popular Chinese stocks fell. Lixiang Education fell 43%, Dingdong Buyer fell more than 13%, Manbang fell more than 10%, DiDi and Douyu fell more than 6%. Azera fell more than 1%. It is reported that on May 20, Azera (NIO) became the first Chinese company to be listed in the US, Hong Kong (also a “secondary listing”) and Singapore, with a “secondary listing” on the Singapore Exchange. Today’s opening price is $16.90 per share. As for other Chinese stocks, Poundland fell 2.7%, Jingdong fell nearly 1.2%, Baidu fell 0.7%, while NetEase rose 1.6%, Manto fell more than 10%, Highway Education fell more than 7%, Douyu fell more than 6%, Good Future fell nearly 6%, NetEase Youdao, Dada, the first stock of e-cigarette fog core technology fell more than 5%, Tiger Securities fell nearly 4%, Zhihu fell more than 3%, Shell house fell more than 2%, Xiaopeng car fell nearly 2%, Azera Motors, Kingsoft Cloud fell more than 1%, Alibaba fell 1%, while Futu Holdings rose about 2%, Tiger rose more than 1%, Akiyip and Weibo rose nearly 1%, Vipshop rose nearly 0.8%, Tencent Music rose nearly 0.4%.

2.Nanjing Raises CPF Loan Amount

From May 20, Nanjing raised the provident fund loan limit, the first use of provident fund to purchase a second suite of up to 1 million. Nanjing provident fund center said, in order to meet the reasonable housing needs of housing provident fund depositors, since May 20, 2022, adjust the maximum limit of housing provident fund loans for the first time use of housing provident fund loans to purchase a second suite in Nanjing, the maximum amount of housing provident fund loans available for the first time use of housing provident fund loans to purchase a second suite from the existing 300,000 yuan / person, 600,000 yuan / household for both husband and wife, adjusted to 500,000 yuan/person, 1 million yuan/household for both spouses. Previously approved by the provident fund center loans are still in accordance with the original policy.

3.Lithium Hexafluorophosphate Price Cut Since March

The price of lithium hexafluorophosphate, the core material of electrolyte, which rose sharply last year, has continued to fall since March this year. According to data from LONZO, the price of lithium hexafluorophosphate continued to rise and reached a high of 600,000 yuan per ton in early March this year. After that, the market price of lithium hexafluorophosphate began to continue to retreat. As of press time, the external offer of lithium hexafluorophosphate is around 260,000-280,000 yuan/ton, which is a cut compared to the high price of 600,000 yuan/ton. For the recent performance of lithium hexafluorophosphate market prices, independent economist and financial commentator Wang Chikun told the Huaxia Times that the release of upstream production capacity and the general lack of start-up rate under the influence of the epidemic, coupled with the emergence of various new battery technology routes, is the main reason affecting the price of lithium hexafluorophosphate back down.

4.Pioneer Intelligence Removed From FTSE Russell Index

FTSE Russell index adjusted in June quarter, the market value of 70 billion lithium leading pilot intelligence was removed. International index compiler FTSE Russell announced the results of the quarterly review of the FTSE Global Equity Index Series in the morning of June 21, and the adjustment will officially take effect after the close of business on June 17. The announcement shows that FTSE Global Equity Index Series newly included 4 Hong Kong stocks, all of which are micro and small-cap stocks, including Eagle Pupil Technology, Hong Cheng Environmental Technology, Connexion Optics and UJU HOLDING. Meanwhile, 1 A-share was excluded from the large-cap category, being Pilot Intelligence; 1 B-share was excluded from the micro and small-cap category, being *ST Shanghang B.

5.CBRC Disposes Of 627 Small And Medium-Sized Rural Banks

Data show that, as of the end of the first quarter of this year, there were 128 urban commercial banks corporate institutions, with nearly 20,000 business outlets across the country and 490,000 employees in the industry. 2017 to 2021, the average annual growth rate of urban commercial bank assets fell significantly by 13.3 percentage points compared with the average annual growth rate from 2011 to 2016, basically returning to the average level of commercial banks. There are a total of 3,902 rural small and medium-sized banks nationwide as of the end of 2021, including 2,199 rural credit cooperatives (including rural commercial banks and rural cooperative banks), 1,651 village banks, 39 mutual fund societies, and 13 loan companies. since 2018, a total of 627 high-risk rural small and medium-sized banks have been disposed of, and 2.6 trillion yuan of non-performing loans have been disposed of, amounting to more than the previous decade’s total.

6.Shanghai Non-Resident Enterprise Income Tax Deadline Extension

The Shanghai Municipal Bureau of Taxation of the State Administration of Taxation issued a notice stating that in order to cooperate with the prevention and control of the epidemic in Shanghai, support enterprises to resume work and production, and facilitate taxpayers to handle the 2021 corporate income tax return, the 2021 corporate income tax return for non-residents in the city is hereby extended to June 30, 2022. Taxpayers who are affected by the epidemic and still have difficulties in filing the non-resident enterprise income tax return before June 30, 2022 may apply to the tax authorities for the extension of the return according to the law.

7.Head Brokerage Private Equity Subsidiary Warned

On May 20, the official website of Jiangsu Securities Regulatory Bureau showed that because some products’ investment was not standardized and the rectification was not completed within the specified period, Jiangsu Securities Regulatory Bureau took the supervisory and management measure of issuing warning letter to Huatai Zijin, a subsidiary of Huatai Securities. It also requires Huatai Zijin to pay great attention to and actively and orderly promote the standardization and rectification of relevant products. The 2021 annual report of Huatai Securities shows that as of the end of the reporting period, Huatai Zijin Investment and its secondary subsidiaries as the manager of a total of 22 private equity investment funds filed and in existence in the CFPA, with a total subscribed scale of 50.845 billion yuan and a total paid-up scale of 41.774 billion yuan. The private equity investment funds implemented a total of 36 investment projects, with a total investment amount of 1.162 billion yuan, all of which were equity investment projects.

8.Average Return For Private Equity Products Was -8.05%

Under the dual influence of the epidemic and the peripheral market, private equity funds have also had poor returns this year. Data from the private equity tripartite platform shows that by the end of April this year, 27,909 private equity funds had an average return of -8.05% so far this year, with a positive return of 23.38%. And from the situation of tens of billions of private equity this year, as of the end of April, the number of private equity institutions with a management scale of more than ten billion was 109, and the 90 tens of billions of private equity with performance records on the above-mentioned private equity tripartite platform had an average return of -12.60% since this year, of which nine tens of billions of private equity made positive returns, accounting for 10%, mainly from Shanghai.

【G-translators Financial Team】
Author: 雪梨