Industry

  • The Medicines Patent Pool Organization announced that it has signed agreements with 35 companies to allow them to generically produce nematevir, one of the ingredients in Pfizer’s new crown oral medicine, or preparations. Five Chinese pharmaceutical companies are among them, including Fosun Pharma, Huahai Pharmaceutical, Puluo Pharmaceutical, Jiuzhou Pharmaceutical, and Shanghai Desano.
  • The stock of luxury goods market in China in the past ten years has reached 4 trillion yuan, and the stock of second-hand luxury goods is large; it is estimated that by 2025, the size of China’s second-hand luxury goods market will reach about 34.8 billion yuan, with a compound growth rate of 15%.
  • Generation Y and Generation Z are the main consumer groups, with over 50% of them under the age of 30; the pursuit of high cost performance is the primary attitude of consumers towards second-hand luxury goods.
  • According to the Allview Consulting report, the current Chinese residents’ exposure to all life insurance-related risks in the rest of their lives is about 1,600 trillion yuan. From the analysis of expenditure demand, medical care is 1050 trillion yuan, pension is 370 trillion yuan, followed by children’s education, which is 95 trillion yuan. This burden is particularly important for young and middle-aged parents.

China

  • Ministry of Finance: From January to February, the national general public budget revenue was 4,620.3 billion yuan, a year-on-year increase of 10.5%; the national general public budget expenditure was 3,822.7 billion yuan, a year-on-year increase of 7%. The stamp duty on securities transactions was 73.7 billion yuan, a year-on-year increase of 10.7%.
  • SAFE: In February, banks settled 1,016 billion yuan in foreign exchange and sold 989.4 billion yuan in foreign exchange, with a surplus of 26.6 billion yuan in foreign exchange settlement and sales. From January to February, banks accumulated 2,555.9 billion yuan in foreign exchange settlement and 2,352.6 billion yuan in foreign exchange sales, with a surplus of 203.3 billion yuan in accumulated foreign exchange settlement and sales.
  • The Ministry of Finance and the State Administration of Taxation: Announce the further implementation of preferential income tax policies for small and micro enterprises. For small and low-profit enterprises, the annual taxable income of more than 1 million yuan but not more than 3 million yuan will be included in the taxable income at a reduced rate of 25%, and the enterprise income tax will be paid at the tax rate of 20%. The implementation period is from January 1, 2022 to December 31, 2024.
  • State Film Administration: Cinemas in medium and high-risk areas will close.
  • The State Administration of Market Supervision: The “14th Five-Year Plan for Market Supervision Technology Development Plan” pointed out that by 2025, strive to achieve “zero breakthrough” in national key laboratories and national technology innovation centers, and the number of national science and technology innovation bases will reach 3-5. More than 60 national key laboratories for market supervision and more than 20 technology innovation centers will be built. Priority is given to cultivating state key laboratories in the fields of quantum metrology, innovative vaccines and biotechnology product evaluation.

Company

  • China Merchants Bank: In 2021, the revenue will be 331.253 billion yuan, a year-on-year increase of 14.04%; the net profit will be 119.922 billion yuan, a year-on-year increase of 23.2%, and the growth rate will hit a new high in the past six years.
  • SF Holding: In February, the express logistics business achieved operating income of 9.849 billion yuan, a year-on-year decrease of 3.36%, and completed business volume of 638 million tickets, a year-on-year decrease of 8.33%; single ticket revenue was 15.44 yuan, a year-on-year increase of 5.46%. Supply chain and international business achieved operating income of 5.969 billion yuan, a year-on-year increase of 485.77%.
  • Zijin Mining: In 2021, the operating income will be 225.102 billion yuan, a year-on-year increase of 31.25%; the net profit attributable to the parent is 15.673 billion yuan, a year-on-year increase of 140.8%. The reserves and output of major mineral products continued to lead China’s metal mining industry, with 584,000 tons of copper mined throughout the year, a year-on-year increase of 28.83%.
  • Xiaopeng Motors: Affected by the continued sharp rise in upstream raw material prices, the prices of models on sale will be adjusted. The price increase before subsidies will range from 10,100 to 20,000 yuan. The price adjustment will take effect from 0:00 on March 21.
  • Lamborghini: In 2021, turnover will reach a record high of 1.95 billion euros, a year-on-year increase of 19%; operating income will reach 393 million euros, a year-on-year increase of 49%. In terms of sales, global deliveries in 2021 will be 8,405 units, a year-on-year increase of 13%.