Zhitong Hong Kong Stock Early Knowledge | The General Office of the CPC Central Committee and the State Council issued the "Special Action Plan to Boost Consumption," Nasdaq fell for the fourth consecutive week

【Today's Headlines】

The General Office of the CPC Central Committee and the State Council Issued the "Special Action Plan to Boost Consumption"

Recently, the General Office of the Communist Party of China Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption." The action plan deploys 30 key tasks across 8 areas, including actions to increase income for urban and rural residents, support for consumption capacity, actions to improve service consumption quality for the benefit of the public, actions for the upgrade of bulk consumption, actions to enhance consumption quality, actions to improve the consumption environment, actions to clean up and optimize restrictive measures, and the improvement of support policies.

The plan proposes to support the accelerated development of new types of consumption. It aims to deeply implement actions to enhance digital consumption and vigorously cultivate quality e-commerce. It will carry out the "Artificial Intelligence +" action to promote "Artificial Intelligence + Consumption," accelerating the development and application promotion of new technologies and products such as autonomous driving, smart wearables, ultra-high-definition video, brain-computer interfaces, robots, and additive manufacturing, opening up new high-growth consumption tracks. It will also carry out special actions for healthy consumption. The plan aims to accelerate the improvement of the low-altitude economy regulatory system and orderly develop low-altitude tourism, aviation sports, and consumer-grade drones. It will continuously enrich cruise routes and tourism products and promote the facilitation of yacht registration and reporting.

【Market Outlook】

U.S. Stock Markets Closed Lower Last Week, Nasdaq Fell for the Fourth Consecutive Week

Overnight, the Dow Jones Industrial Average rose by 674.62 points, an increase of 1.65%, closing at 41,488.19 points; the Nasdaq rose by 451.07 points, an increase of 2.61%, closing at 17,754.09 points; the S&P 500 index rose by 117.42 points, an increase of 2.13%, closing at 5,638.94 points. Nvidia (NVDA.US) rose over 5%, Tesla (TSLA.US) rose 3.86%, and Apple (AAPL.US) rose about 1.8%. The Nasdaq China Golden Dragon Index rose 2.69%, JD.com (JD.US) rose 4.6%, and Alibaba (BABA.US) rose nearly 2%. Last week, all three major U.S. stock indices recorded declines. The Dow fell 3.07%, marking its second consecutive week of decline. The Nasdaq fell 2.43%, and the S&P 500 index fell 2.27%, both marking their fourth consecutive week of decline. Over the weekend, the Hang Seng Index ADR rose, closing at 24,168.53, an increase of 208.55 points or 0.87% compared to the Hong Kong closing.

CITIC Securities pointed out that after the recent market has played out high cuts and low, it is expected that the trend of capital inflow from both domestic and foreign sources into Hong Kong stocks will slow down, and the situation of Hong Kong stocks significantly outperforming A-shares will come to an end; during the annual report season, the market will return to performance-driven dynamics, and core assets in A-shares will accumulate for an upward trend; the progress of Trump's ideal "policy trilogy" is accelerating, and the probability of a recession occurring in the U.S. by mid-year is significantly increasing; expectations of a U.S. recession will not affect Chinese assets, but a real recession, if it occurs, will still have negative impacts; it is expected that the latter part of the spring rally driven purely by funds will cool down, and it is recommended to focus on core assets in A-shares and Hong Kong stocks.

【Hot Topics Ahead】

Four Departments Jointly Issued the "Identification Measures for AI-Generated Synthetic Content"

Recently, the National Internet Information Office, the Ministry of Industry and Information Technology, the Ministry of Public Security, and the National Radio and Television Administration jointly issued the "Identification Measures for AI-Generated Synthetic Content," which will take effect on September 1, 2025. A relevant person in charge of the National Internet Information Office stated that the "Identification Measures" aim to promote the healthy development of artificial intelligence, standardize the identification of AI-generated synthetic content, and protect the legitimate rights and interests of citizens, legal persons, and other organizationsMaintaining social public interests.

The Real Estate Industry Association Holds a Symposium for Private Real Estate Enterprises

To implement the spirit of the symposium for private enterprises held on February 17, and to propose targeted and actionable policy suggestions to relevant departments, on March 11, the China Real Estate Industry Association organized a symposium for private real estate enterprises to listen to the opinions and suggestions of companies. Vice President Zhang Qiguang presided over the meeting, with representatives from companies such as Binjiang, Longfor, Xuhui, Rongsheng, Zhongliang, and New Oupeng participating.

A New Wave of Photovoltaic Installation! Prices of Battery Cells Rise Across the Board

Recently, major companies in the photovoltaic silicon material and component sectors held another meeting to readjust the quotas for silicon wafers and components for the first half of the year, with a 1%-3% increase in each quarter of the first half. Industry insiders believe that this quota adjustment is related to the rush for installations in the industry. Journalists have noted that recent price data released by multiple institutions also reflects the impact of the photovoltaic rush on the industry chain. Specifically, data from the China Nonferrous Metals Industry Association's Silicon Branch shows that this week, the transaction price of polysilicon remained stable, with the transaction price of N-type re-investment material at 41,700 yuan/ton, the average transaction price of N-type granular silicon at 39,000 yuan/ton, and the average transaction price of P-type polysilicon at 34,000 yuan/ton.

The Second Shanghai Micro Short Drama Conference to Be Held on March 20, Will Release China's First Micro Short Drama Integration Communication Index

From March 19 to 20, the Shanghai Film and Television Creation Conference will be held at the Shanghai Exhibition Center. At that time, the conference will integrate industry resources through four main activities: the Shanghai TV Drama Production Annual Meeting, the TV Drama Quality Ceremony, the Shanghai Micro Short Drama Conference, and the Micro Short Drama Quality Ceremony, promoting technological innovation, content refinement, industry integration, and policy support, helping Shanghai become a global innovation hub and cultural landmark for the film and television industry. It is reported that the conference will release the "2024-2025 Shanghai Micro Short Drama Development White Paper," launch the Shanghai Micro Short Drama "Blossom" Plan 2.0, and release China's first Micro Short Drama Integration Communication Index "Quality East - Micro Short Drama Integration Communication Quality Index."

Goldman Sachs: European Institutions Become More Optimistic, Plan to Increase Holdings in Chinese Consumer Stocks, Gradually Building Positions Since January

Recent market research conducted by Goldman Sachs in Europe on the Chinese consumer staples industry shows that offshore investors have expectations for the sustainability of China's consumption recovery and are closely monitoring policy stimulus, changes in consumption patterns, and emerging trends. Goldman Sachs pointed out that EM funds in Europe are becoming more optimistic about the Chinese market, seeking to increase their holdings in Chinese consumer stocks from their current low positions. Since January 2025, bulls have been increasing their positions. This reflects that the proportion of Chinese allocation in global mutual funds is still relatively low, with value-type LO funds mainly looking for underperformers and major beneficiaries of policy stimulus, while more active funds are searching for new investment targets in the market. In short, overseas investors, especially EM funds, are gradually becoming optimistic and increasing their holdings in Chinese consumer stocks, bringing incremental funds to the market.

Sinopec Engineering (02386) Releases Annual Results, Shareholders' Profit Attributable to Shareholders is 2.466 Billion Yuan, Up 5.5% Year-on-Year, Proposes Final Dividend of 0.208 Yuan per Share

According to Zhitong Finance APP, Sinopec Engineering (02386) released its annual results for the year ending December 31, 2024, with revenue of 64.198 billion yuan (RMB, the same below), a year-on-year increase of 13.9%;The profit attributable to equity holders of the company is 2.466 billion yuan, a year-on-year increase of 5.5%; basic earnings per share is 0.56 yuan; a final dividend of 0.208 yuan per share is proposed.

Rusal: Plans to acquire a portion of Pioneer Aluminium Industries in phases

On the evening of March 15, Rusal announced on the Hong Kong Stock Exchange that on March 13, 2025, the company's wholly-owned subsidiary entered into an agreement with the Pioneer Group and KCAP Group to acquire shares of Pioneer Aluminium Industries Limited in phases. The target company is registered in India and owns and operates a metallurgical-grade alumina refinery in Andhra Pradesh, India, with a rated annual capacity of 1.5 million tons. Both the seller and the buyer intend to supply bauxite to the target company and obtain alumina from the target company in proportion to their respective equity stakes. According to the agreement, the buyer agrees to acquire up to 50% of the total equity of the target company in three phases. In the first phase, the company will acquire 26% of the target company's shares for a total consideration of USD 243.75 million, plus appropriate contractual adjustments for net working capital and debt as stipulated in the agreement. All subsequent shares will be paid for proportionally.

【Stock Highlights】

China International Marine Containers (02039): Mainly involved in two major aspects of deep-sea technology exploration

China International Marine Containers stated on the interactive platform that it is deeply engaged in the layout of deep-sea oil and gas and new energy businesses. Among them, the marine engineering business integrates design, procurement, production, construction, commissioning, and operation, providing bulk, industrialized general contracting construction services for high-end marine engineering equipment and other special-purpose vessels, making it one of China's leading general contractors for high-end marine engineering equipment.

It mainly involves exploration in two major aspects of deep-sea technology: 1) Manufacturing and services for deep-sea oil and gas extraction equipment: The "Blue Whale No. 1" and "Blue Whale No. 2" ultra-deepwater dual-drill tower semi-submersible drilling platforms built by Yantai CIMC Raffles under CIMC are significant achievements of independent design and construction in China, representing the first "turnkey" project in the ultra-deepwater field of marine engineering by Chinese shipyards, with a maximum operating water depth of 3,658 meters and a maximum drilling depth of 15,240 meters, making it the deepest semi-submersible drilling platform in the world in terms of operating water depth and drilling depth.

In addition, in the field of FPSO/FLNG products, which is known as the "crown jewel" of the shipbuilding and marine engineering industry, CIMC Offshore has achieved remarkable results in recent years. In 2024, CIMC Offshore successfully secured total package orders for two FPSO hulls and one FLNG conversion total package order. This achievement is significant, demonstrating substantial progress in tackling the most complex, high-cost, and high-value-added products in marine engineering equipment.

The second aspect is related to the development of deep-sea new energy. CIMC continues to improve its plans, promote the development of marine new energy, drive down costs and increase efficiency in the offshore wind power industry, and continuously incubate offshore floating photovoltaic projects. In 2024, it jointly developed, constructed, and delivered the world's first bamboo-based composite offshore floating photovoltaic platform, "Jilin No. 1."[Disclaimer] This VIP information product is for communication and discussion purposes only and does not constitute any investment advice. Unauthorized reproduction is strictly prohibited. For more quality information and data products, please log in to the [Zhitong Finance] APP for inquiries.