Today's Important News Review | Dolphin Investment Research

0924 Focus of Dolphin Jun:

🐬 Macro/Industry

1. The central bank announced three major positive policies, leading to a collective surge in A-shares and Hong Kong stocks today: 1) It will soon reduce the reserve requirement ratio by 0.5 percentage points; 2) Lowering existing home loan interest rates and unifying the minimum down payment ratio for home loans, with an expected average reduction of 0.5 percentage points. The minimum down payment ratio for the second home loan will be reduced from 25% to 15%, and the first home loan will be unified; 3) New monetary policy tools to support the stable development of the stock market.

🐬 Individual Stocks

1. Miniso

Miniso plans to invest approximately 6.27 billion yuan to acquire 29.4% of Yonghui Superstores' shares. After the transaction is completed, it will become the largest shareholder. Yonghui Superstores has shown poor performance in recent years and is currently in a phase of closing stores for self-rescue. However, Miniso's acquisition may not only consume a significant amount of its own cash but also potentially drag down its future performance. The market feedback is negative, with Miniso's US stocks plummeting by 16.65% last night and Hong Kong stocks falling by over 20% today, while Yonghui Superstores has been continuously hitting the limit up.

🐬 Leading Sectors

Shanghai and Shenzhen: Financial exchanges and data, diversified financial services, asset management, and custodian banks;

Hong Kong: Consumer goods retailers, multiple insurance types, real estate services;

US: Coal and consumable fuels, automobile manufacturers, heavy electrical equipment.

🐬 Focus Tomorrow

1. China's Medium-term Lending Facility (MLF) bid rate, China's Medium-term Lending Facility (MLF) operation scale.

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