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The reporter of "China Times" contacted the relevant person in charge of First Venture as soon as possible on the How to buy Hong Kong listed stockssame day. The person in charge stated that the company did not have any information that should be disclosed but not disclosed with regard to media reports on the merger. Later in the evening, the company issued an announcement to clarify that the content of the relevant consolidated report was not true, and the company currently has no information that should be disclosed but not disclosed. The company confirms that it will not plan related matters for at least 3 months.

[Summary of the research report] CWP2020 new products shine, and the industry's cost reduction path is clear. In this exhibition, domestic mainstream wind turbine companies have participated in the exhibition and released new products. The new products on the land are mainly for the three-north parity base, indicating that the three-north parity base has become the focus of wind power market development and the core market for wind turbine companies to compete. Fenghe Yuanjing launches new products for the southern region of the Middle East (especially the low wind speed areas in the plains), which means that the parity territory of the southern region is expected to expand. In the past few years, onshore wind power has achieved rapid subsidies through technological progress. Large capacity, long blades, and high towers are still the main features and means of technological progress. Looking forward to the future, the trend of technological progress is expected to continue, driving the cost of electricity per kilowatt-hour. Decrease at a faster rate. Technology cost reduction-demand creation or the main line of future growth. We believe that in the post-subsidy era, the wind power industry has entered the stage of supply and demand creation. Technology cost reduction-demand creation has a clear context. When technological progress leads to the emergence of new models with more powerful performance, new business models and applications for wind power Scenarios and market demand may emerge. This is similar to the fact that the decline in photovoltaic module prices has spawned more market demand. The difference is that the time period for wind power technology to reduce costs and translate into demand is relatively long. With the continuous advancement of technology cost reduction, the vast decentralized wind power market in the south of the Middle East is expected to be developed on a large scale in the future. The wind power + energy storage model will gradually become economical. Overseas markets will expand or change now, and the boundaries of the wind power market will continue to widen . Therefore, the technological iteration of wind turbines and the introduction of new products have become the indicator of the prosperity of the wind power industry. The large number of new products launched by CWP2020 indicates to a certain extent that the prosperity of the industry is expected to increase in the future. Investment advice: Optimistic about the growth of wind power driven by technology cost reduction. In 2021, the newly approved domestic onshore wind power will fully enter the era of no subsidy, and technological progress will become the leading indicator and driving force of the industry's prosperity. Looking to the future, the path of technological progress is clear, and the trend of cost reduction of existing technologies is expected to continue, which is expected to generate more market demand. Maintain the forecast that the newly installed domestic wind power will reach 30GW and above in 2021. It is expected that the domestic wind power market demand will be on the rise during the 14th Five-Year Plan period. The wind power industry’s annual average installed capacity of 50GW is feasible. We are optimistic about the investment opportunities in the wind power sector, and we suggest paying attention to the wind turbine sector of Goldwind Technology (002202), Mingyang Intelligent (601615), Yunda (300772), and the tower sector of Tianshun Wind Energy (002531) and Daikin Heavy Industry (002487). Xinqianglian (300850) in the bearing sector, Riyue shares (603218) in the casting sector, and Dongfang Cable (603606) in the submarine cable sector. risk warning. The new crown epidemic has brought uncertainty to the demand and supply sides of wind power. On the one hand, the new crown epidemic may affect the domestic wind power market demand. On the other hand, some of my country's wind power components and auxiliary materials rely on imports and may be affected by the overseas epidemic. The risk of wind power demand falling short of expected after rush installation. At present, the growth of domestic market demand is mainly driven by rush installation. Considering the sharp drop in on-grid power prices after rush installation, if the development of large bases, parity, and decentralized projects is not as expected, there is a risk of decline in domestic demand. If the price of raw materials such as steel rises sharply, it may affect the overall profitability of the industrial chain. Part of the wind power manufacturing process presents the characteristics of homogeneous competition. After rushing to install, competition may intensify, and product prices and profitability may decline.

According to industry news, recently, many tire companies have placed price increase notices until 2021. Shandong Jinyu Rubber has decided to adjust product prices starting in 2021, this time the increase is 2% to 3%. Chaoyang Huaxing Wanda Tire issued a price adjustment notification letter, increasing the company's inner tube price by 3 points and the pad belt by 5 points. Shandong Haoyu Rubber issued a price increase notice and adjusted the prices of the entire series of TBR products produced by 2%.

Comment: On April 11th, the Beijing Internet Court's first judgment involving blockchain Tianping Chain was released, and the application of electronic evidence open ecological platform Tianping Chain judged the first copyright dispute. Compared with traditional evidence collection procedures, the verification procedure of the balance chain is more convenient and efficient, saves resources, improves judicial efficiency, and solves the problems of difficulty in depositing, obtaining evidence, and identifying electronic evidence. Combined with the present, this case is quite representative, and the application of blockchain to intellectual property protection is expected to become a future trend.

On October 14th, ArcherMind Technology disclosed the "Performance Forecast for the First Three Quarters of 2019". It is estimated that the net profit attributable to shareholders of listed companies in the first three quarters will be between 5.2 million yuan and 6.18 million yuan, a year-on-year decrease of 37% to 47%. The letter of concern requires the company to verify whether the company’s fundamentals have undergone major changes in combination with performance, business development, internal and external market environments, and explain the reasons for the long-term cooperation with Huawei but the continued weakness and sharp decline in performance.

On August 18, the Supreme People’s Court isHow to buy Hong Kong listed stockssued the “Several Opinions of the Supreme People’s Court on Providing Judicial Protection for the Reform of the Growth Enterprise Market and the Pilot Registration System”, which clarified the centralized jurisdiction of cases on the Growth Enterprise Market, increased the cost of violations of laws and regulations, and properly handled both the old and new reforms Judicial policies such as the issue of system convergence effectively protect the legitimate rights and interests of investors. On August 19, the Guangdong Provincial Higher People's Court also issued a special judicial guarantee document for the reform of the Growth Enterprise Market.

On the evening of July 29, CITIC Securities released the 2020 semi-annual results bulletin. In the first half of the year, it achieved operating income of 264.3 billion yuan, a year-on-year increase of 272%; and achieved a net profit of 82.6 billion yuan, a year-on-year increase of 347%. With reference to the monthly revenue reports of various securities firms, there is no doubt that CITIC Securities will maintain its top position in the industry. Comparing the industry's revenue of 2,130.4 billion yuan and net profit of 834.7 billion yuan, CITIC Securities accounts for more than 10%.

From the perspective of market performance, the top ten stocks of northbound capital holdings decreased in market value this week, and their stock prices all fell. That is, except for Dongfang Yuhong and Hengli Hydraulics, the decrease in the market value of northbound capital holdings of the other 8 stocks was brought about by lightening The market value of positions decreased, and there was also a decrease in the market value of positions brought about by the decline. It is worth noting that this week, the northbound funds increased 988.49 million shares of Oriental Yuhong against the trend, but it still did not stop the decline of Oriental Yuhong. This week, Oriental Yuhong fell more than 11%.

The current market has the characteristics of a weak economy and a strong stock market. In the context of a weak economy, countercyclical policies are worth looking forward to. 2020 is the year of the decisive battle against the well-off and the closing year of the 13th Five-Year Plan. It is of great significance to achieve the annual economic growth target. Therefore, the overall policy tone must be loose and support economic development. According to the changes in the epidemic, the policy orientation will gradually change from the structure. Sex policy dominated to aggregate policy dominated. At the Politburo meeting, there were two more and two more positive statements about the aggregate policy, which means that the subsequent aggregate policy will still be introduced. The currency is concerned about RRR cuts, structural interest rate cuts, changes in deposit benchmark interest rates, etc., and finances are concerned about the deficit rate, Changes in local government special debt quotas, the role of policy finance, special treasury bonds, etc., and the industry level pays attention to policy responses such as automobiles, 5G, and new energy vehicles.