Original link: https://www.latepost.com/news/dj_detail?id=1828
Housing prices in China have risen by 30% compared to before the epidemic
In the second quarter of this year, the year-on-year growth rate of Huazhu’s domestic business revenue accelerated to 76.6%, reaching 4.3 billion yuan, and it turned losses into profits year-on-year, achieving a net profit of 993 million yuan.
In terms of key business indicators, Huazhu’s average revenue per available room (RevPAR, room revenue/number of rooms available for rent) rose to 121% of the same period in 2019, and the recovery rate continued to increase compared with the first quarter. in:
- The average price of rented rooms is 305 yuan, an increase of nearly 30% compared with the same period in 2019;
- The occupancy rate was 81.8%, 5.1 percentage points lower than the same period in 2019, and the gap slightly widened compared with the previous quarter.
In the second quarter, Huazhu opened 374 new stores in China (216 closed stores), significantly lower than the same period in the past three years, and the total number of stores at the end of the period was 8,622. However, the management said that there were 1,054 newly signed stores in this quarter, a quarterly record high. In addition to the backlog of demand in the past three years, it also reflects that franchisees’ confidence is improving as the industry’s operations improve.
Since the beginning of this year, domestic hotel prices have risen rapidly. “Landian Finance” has previously introduced that, on the one hand, it is because of the concentrated release of long-standing business and travel needs. In addition, during the epidemic, a large number of independent hotels were cleared, which also reduced consumers’ choices.
The market is most concerned about how long the current heat can last. In the conference call on the 25th, the management said that with the arrival of the peak summer season, Huazhu’s RevPAR has reached 132% in 2019, and is expected to reach 128% to 130% in the third quarter, and is expected to be in the range of 116% to 121% for the whole year. Expectations remain optimistic.
As for the expectations for next year or even longer term, the management did not give a direct answer, but only said that the company must maintain long-term competitiveness in an uncertain environment. According to the company, franchising, expansion into low-tier markets, and expansion of mid-to-high-end brands are all important directions.
Hotel demand is highly correlated with the macro economy, and several analysts asked about the recovery of business demand. The management frankly stated that the current growth is mainly driven by the local leisure market, while the business end is still recovering and will take longer to recover. (Lin Guangying)
Rolex bought a retail channel
Rolex surprised the industry on August 24 by announcing the acquisition of Swiss watch and jewelry retailer Bucherer. Rolex has always emphasized that it will not sell watches directly to customers. Before that, it only operated one store in Geneva, Switzerland, and most of the watches were sold by authorized retailers.
Shares in Watches of Switzerland Group, Britain’s largest Rolex dealer, fell by more than a quarter after the announcement.
In a statement, Rolex described the motivation for the acquisition, saying that Bucherer’s 87-year-old chairman, Jörg Bucherer, has no direct descendants and considered selling the company, which prompted the company’s decision to buy. Rolex said it hopes to continue Bucherer’s achievements and maintain the close cooperative relationship between the two parties that has lasted for nearly a century. According to the plan, Bucherer will retain the name and continue to operate independently, while Rolex will continue to maintain partnerships with major retailers.
Bucherer was founded in 1888 (17 years earlier than Rolex), and began to cooperate with Rolex in 1924. In 2018, it bought Tourneau, the largest watch retailer in the United States. It currently has more than 100 stores in Switzerland, the United States and many European countries, nearly half of which are Rolex watches are for sale. It is not an exaggeration to say that it is a direct sales of Rolex. Rolex, which never sells second-hand, allows Bucherer to sell second-hand watches and provide official certification.
According to watch portal SJX, Bucherer has annual sales of more than 2 billion Swiss francs (about 2.2 billion U.S. dollars), two-thirds of which come from Rolex and its brand Tudor, accounting for about one-tenth of Rolex’s production. The latter produces more than 1 million watches per year, with sales of more than 9 billion Swiss francs. The two parties did not disclose the transaction amount, but some analysts estimate that Bucherer is worth 4 billion Swiss francs.
On the professional watch website HODINKEE, several readers left a message saying that they are happy with the acquisition. Some commented that they foresaw that “the watch box of the Bucherer store will really contain a Rolex, unlike other stores that are empty.” Some think that Rolex can improve the service quality of the store, improve the brand image, or control the sales channel. To regulate the frenzied hype market.
Rolex is one of the few brands in the luxury watch industry that can take into account quantity, price and brand influence at the same time, which also makes it out of stock all the year round, and some popular models even have to wait in line for several years. According to a survey conducted by Wandian Finance and Economics at the beginning of last year, most of the domestic stores at that time had almost no real Rolex products.
Some readers also expressed concern that, for example, Rolex will obtain sales information of other brands from Bucherer, which may face anti-monopoly investigations, or that Rolex will put exclusive and popular models on Bucherer, and its relationship with other dealers will inevitably be affected. Some readers believe that Rolex is equivalent to selling products directly to consumers, which is conducive to improving profits and responding to weak demand that may occur in the next few years.
During the epidemic, second-hand prices of famous watches rose sharply. Taking Rolex Daytona as an example, the second-hand price once rose to 47,000 US dollars, nearly double that of the beginning of 2020, and more than three times the first-hand price. It has now given up most of those gains. (Lin Guangying)
Brokers reduce trading commissions, but they are expected to get more
Recently, more than 20 brokerages including Guotai Junan Securities and Haitong Securities have successively issued announcements to reduce trading commissions starting from next Monday, August 28. According to the notices of various securities companies, the trading commissions of the Shanghai and Shenzhen Stock Exchanges were uniformly lowered by 0.00146 percentage points, and that of the Beijing Stock Exchange was reduced by 0.0125 percentage points.
This is comparable to the previous reduction in fees by the Securities Regulatory Commission on brokerage firms. For example, based on the commission rate of 3/10,000, if you bought 100,000 yuan of A shares before, you need to pay a commission of 30 yuan to the brokerage, but after this fee reduction, you only need to pay 28.54 yuan.
The logic of the official fee reduction is to reduce the fees of brokerage firms through the exchange, so as to promote brokerage firms to simultaneously reduce the transaction costs of investors. According to Wei Yinuo, a non-bank analyst at Huabao Securities, the reduction in handling fees is expected to bring about 6.605 billion yuan in fee reductions to the market.
But according to the current trading regulations, brokers are likely to get more benefits.
According to the regulations of the China Securities Regulatory Commission, if the transaction commission for each investor is less than 5 yuan, it will be charged as 5 yuan. Therefore, this commission reduction, for retail investors whose transaction amount is less than 16,666 yuan (calculated at 3/10,000th of the transaction commission), because the transaction commission is less than 5 yuan, each transaction still needs to pay 5 yuan to the brokerage .
However, on the cost side, the exchange “reimburses the brokers on the ground”, and there is no minimum amount of 5 yuan for each transaction that the brokerages hand over to the exchange. Among them, the price difference of 5 yuan paid by the investors is “accidentally” transformed into a brokerage incremental commission income. According to industry sources, the fee reduction is expected to allow medium-sized securities firms to earn an additional 30 million to 50 million yuan in commission income each year; while Internet securities firms with a large number of retail customers and a high proportion may make more profits.
According to the “Daily Economic News” report, some small and medium-sized brokerages have previously waived the minimum handling fee of 5 yuan in order to attract customers to open accounts. However, under the current regulatory conditions, such a “promotion” method is actually an illegal operation.
According to the 2022 China Securities Depository and Settlement Statistical Yearbook, the number of investors in A-share accounts reached 212 million, of which the size of retail accounts was 210 million, accounting for 99.76% of the number of investors. The number of institutional investors was 508,800. (Intern Lin Hongsheng)
OTHER NEWS
The three departments jointly issued a notice to implement the “recognition of the house but not the loan” of the first house.
Xinhua News Agency reported that the Ministry of Housing and Urban-Rural Development, the People’s Bank of China, and the State Administration of Financial Supervision jointly issued the “Notice on Optimizing the Identification Standards for the Number of Housing Units in Personal Housing Loans” to promote the implementation of policies and measures of “recognizing the house without subscribing to the loan” for the purchase of the first home loan .
The notice makes it clear that when a resident family (including the borrower, spouse and minor children) applies for a loan to purchase a commercial housing, if the family member does not have a complete set of housing under the local name, regardless of whether the loan has been used to purchase a housing, the banking financial institution shall Housing housing implements the housing credit policy. As a policy tool, this policy is included in the “One City, One Policy” toolbox for cities to choose independently.
According to Wind, from January 1, 2024 to December 31, 2025, for taxpayers who sell their own houses and repurchase houses in the market within one year after the sale of their current houses, the taxpayers who have already paid for the sale of their current houses Personal income tax will be refunded preferentially.
The three major A-share indexes set new lows for the year.
Today, the three major A-share indexes fell collectively, hitting the lowest level this year. As of the close, the Shanghai Index fell 0.59%, the Shenzhen Component Index fell 1.23%, and the ChiNext Index fell 1.17%. Market turnover was 766.3 billion yuan, still sluggish. Among them, the banking, insurance, securities, and real estate sectors bucked the trend and rose, while the Internet, games, software, semiconductor, and communication sectors were the largest decliners.
China Merchants Bank’s net interest income in the second quarter fell by 3.29% from the previous quarter.
From April to June this year, China Merchants Bank achieved revenue of 87.8 billion yuan, a year-on-year increase of 0.83% and a month-on-month decrease of 3.1%. Among them, the net interest income fell by 3.29% to 53.5 billion yuan, an expansion of the month-on-month decline. China Merchants Bank concluded in its interim report that the banking industry is facing problems such as “insufficient credit demand, redundant funds, and regular deposits”. Regarding the regions, industries and customer groups of non-performing loans, CMB said that they are mainly distributed in the Yangtze River Delta, the Bohai Rim region and the head office (credit card loans). greater than 10 million yuan and total assets greater than 50 million yuan).
The overdue rate of Bank of Communications credit cards increased by 1.34 percentage points compared with the end of last year.
According to the semi-annual report of the Bank of Communications, as of the end of June, its credit card loans were 26.681 billion yuan overdue, with an overdue rate of 5.55%, an increase of 1.34 percentage points from the end of last year. Non-performing credit card loans reached 11.714 billion yuan, with a non-performing ratio of about 2.44%, which also increased by 0.49 percentage points.
China continues to pilot the industrialization of genetically modified corn and soybeans, which are mainly used as feed.
According to the “Farmer’s Daily”, 20 counties in 5 provinces arranged pilot projects for the industrialization of genetically modified corn and soybeans this year. According to industry insiders, last year’s pilot project was effective, but this year, planting companies will sell genetically modified corn seeds at the same price as ordinary seeds to promote the pilot project. Starting next year, the price may be 5 to 8 yuan/mu more expensive. At present, genetically modified crops are not allowed to be used directly for human consumption, but they can be used as feed. China has been importing and using genetically modified soybeans for more than 20 years. Last year, the imported soybeans were mainly genetically modified soybeans.
CDFG’s revenue in the first half of the year increased by 30%, mainly due to the duty-free shops on Hainan’s outlying islands.
In the first half of this year, CDFG’s revenue increased by 30% year-on-year to 35.86 billion yuan, net profit fell slightly by 1.8%, sales expenses increased by nearly 1.3 times to 4.27 billion yuan, and employee and store leasing costs increased. In terms of categories, the sales revenue of duty-free products increased by nearly half year-on-year to 24 billion yuan, becoming the largest source of income again, and tax revenue increased slightly by 4.7%. The report mentioned that in the first half of the year, the sales of China Duty Free’s duty-free stores on Hainan’s outlying islands increased by more than 30% year-on-year.
“All or Nothing” topped the global box office weekly chart for the second time in a row.
According to the global box office data of Maoyan Professional Edition, the real-time box office of “All or Nothing” in mainland China exceeded 3.142 billion yuan, becoming the champion of the 2023 global box office weekly list for two consecutive weeks. The film is an anti-fraud movie, telling the story of programmer Pan Sheng and model Liang Anna who are attracted by overseas high-paying recruitment and decide to go abroad to seek gold, but accidentally get involved in overseas fraud. According to the Baidu Index, the daily average number of searches for “fraud” in the past 30 days has reached 1,725, a year-on-year increase of 32%.
Pagoda’s profit in the first half of the year increased by 66 million yuan year-on-year, and wealth management and exchange income accounted for 18 million yuan.
Recently, Pagoda’s interim financial report showed that during the period, the company’s revenue was 6.294 billion yuan, a year-on-year increase of 6.4%; the net profit attributable to the parent was 260 million yuan, a year-on-year increase of 34.1%; the net profit was 261 million yuan, a year-on-year increase of 34.1%. Among them, wealth management and exchange income increased by 18 million yuan compared with the same period last year. The person in charge of Pagoda said that the increase in revenue in the first half of the year was mainly due to the active efforts of the TOB business group and the increase in the number of stores. In the first half of the year, the net profit rate was 3.98%, an increase of 34.1% over the same period, mainly due to the reduction in various expenses caused by the reduction in the number of employees.
Keep’s loss in the first half of 2023 was 223 million yuan, and the average number of monthly active users decreased.
On August 25, Keep announced its results for the first half of the year. The company achieved revenue of 985 million yuan, and its adjusted net loss under non-IFRS measurement was 223 million yuan, a year-on-year decrease of 29.7%; the gross profit margin increased from 40.9% in the same period last year to 43.0%, mainly due to the increase in gross profit and contribution revenue of membership subscription and online paid content business. During the reporting period, the average number of monthly active users of Keep was 29.55 million, a decrease of about 8 million compared with the same period last year, mainly because outdoor activities were restricted at this time last year.
Leap Motors sold more and more expensive cars in the first half of the year, and its revenue hit a new high for the same period.
Leapmotor delivered a total of 44,502 vehicles in the first half of the year, a decrease of 14.4% compared with the same period last year, mainly because the delivery of T03 with a price of less than 100,000 yuan decreased by 72.9% compared with the same period in 2022. At the same time, with the C11 delivery volume starting at 185,800 units increasing by 45.4% compared with the same period last year, the company’s revenue reached 5.8 billion yuan, a new high in the same period, and its gross profit margin and operating cash flow also turned positive year-on-year.
“The Voice of China” was suspended, and the market value of Xingkong Chinese has decreased by 15 billion yuan.
On August 25, Zhejiang Satellite TV announced that the broadcast of “The Voice of China” was suspended due to the problems reported by viewers and netizens. Affected by this news, the stock price of Xingkong Huawen, the parent company of “Good Voice” producer, continued to plummet by 17%.
US researchers claim to have fully deciphered the human Y chromosome for the first time.
According to Xinhua News Agency, the National Human Genome Research Institute of the United States announced on the 23rd that it has completed the entire gene sequencing of the human Y chromosome deoxyribonucleic acid (DNA). The Y chromosome is the sex-determining chromosome. The genetic information on this chromosome is usually only transmitted between males. The research results may help related research on male infertility. The research report was published in the British “Nature” magazine.
The market value of “Vietnamese Tesla” VinFast exceeds US$110 billion.
On Thursday local time, the three major U.S. stock indexes all fell, but the “Vietnamese Tesla” VinFast Auto bucked the trend and soared 56%. As of the close of the day, it rose 32.22%, and its market value reached 113.8 billion US dollars, ranking third among global listed car companies in market value, second only to Tesla and Japan’s Toyota. Last week, VinFast was listed on Nasdaq through a SPAC, and its first day of listing soared by more than 250%, and its outstanding shares accounted for only 1% (about 1.3 million shares).
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