The reporter learned from the Cotton Research Institute of the Chinese Academy of Agricultural Sciences on the 5th that the cotton molecular genetic improvement innovation team discovered a novel high-efficiency broad-spectrum insecticide protein in cotton, which can replace chemical pesticides to efficiently poison lepidopteran pests, and is of great significance for green agricultural development. (Xinhua)

BAIC Blue Valley announced that Beijing New Energy Vehicle Co., Ltd. sold 2,882 vehicles in April and 4,768 vehicles in the same period last year; the cumulative sales volume this year was 1,3004 vehicles, a decrease of 34.59% over the previous year.

Maiwei Co., Ltd. stated on an interactive platform on May 5 that the company's products such as fully automatic temporary wafer bonding equipment and wafer laser unbonding equipment can be used in processes related to ultra-thin films and advanced packaging, and the company is communicating and testing with interested customers.

According to the Ministry of Transport, on May 4 (4th day of Labor Day holiday), the number of people moving across regions across the whole society was 251.861 million, down 6.6% from the previous month, up 20.3% from the same period in 2019 (4th day of Labor Day holiday), and 6% lower than the same period in 2023.

According to the CITIC Securities Research Report, the Federal Reserve's May 2024 interest rate meeting will maintain the target range of the federal funds rate at 5.25% to 5.5%. There was a major change in the statement at this meeting, and it was announced that the downsizing process would begin in June. Powell's speech was generally neutral, pointing out that the Federal Reserve's next move is unlikely to raise interest rates. CITIC Securities believes that before the US unemployment rate rises above 4%, the focus of the Federal Reserve's policy is still on inflation. It is expected that interest rate cuts will still be possible during the year. At the time of the first interest rate cut, it will still be necessary to “walk and watch” inflation data. The reserve size of 3 trillion US dollars may be the threshold for the current round of contraction to stop. In the short term, it is expected that the US dollar index and US bond interest rates will remain volatile, and US stocks may continue to fluctuate weakly.

The CITIC Securities Research Report points out that domestic offshore wind power development is expected to reach an inflection point and the boom will rise. It is mainly reflected in several aspects: first, on the basis of project approval, the scale of domestic offshore wind power project tendering has gradually increased; second, construction of offshore wind power projects has gradually started, and project delivery volume has continued to increase; third, orders and performance of major equipment manufacturers have grown rapidly. Currently, judging from tenders, the domestic offshore wind power tender scale of 1.85 GW in April 2024 is better than 1.1 GW in Q1. It has shown a clear marginal improvement trend, and the commencement of project construction and improvements in corporate orders are also expected to gradually be confirmed as restrictions are lifted and tenders progress. It is recommended to focus on links with product advantages, capacity layout, and value increases in the offshore wind power industry chain, such as submarine cables, pile foundations, and supporting equipment.

Sichuan Huati Lighting Technology Co., Ltd. announced that after review and approval at the 35th meeting of the fourth board of directors of the company, the board of directors of the company decided not to revise the “Huati Bonds” conversion price downward at this time. At the same time, within the next 6 months (that is, from May 1, 2024 to October 31, 2024), if the “Huati Bonds” conversion price downward revision clause is triggered again, no downward revision plan will be proposed.

BYD announced that sales of new energy vehicles in April were 313,245 units, compared to 210,295 units in the same period last year.

On May 5, the “2024 “May Day” Holiday Travel Report released by Flying Pig showed that during the “May 1st” holiday this year, the depth of domestic travel increased markedly, with per capita bookings and per capita spending both recording double-digit growth rates compared to last year. The recovery of outbound travel has accelerated. On the basis of a sharp rebound last year, it is still growing at a nearly double rate. Among them, free travel has become the mainstream mode of outbound travel, accounting for more than 80%.

Yu Jingyu, investment director of Ning Quan Asset, said that in the process of investing in the A-share market, there is nothing special about value investment; successful investments often stem from having a comparative advantage in any link in the investment chain. In China, investors often have misconceptions about value investing, believing that holding stocks for a long time without paying attention to their price is value investing. However, real value investors should pay attention to price factors and make detailed assessments and judgments, and investment decisions should also be based on strict consideration of prices. Yu Jingyu stressed that the key to investing is to identify and deeply cultivate one's circle of competencies, that is, areas where one has an advantage in the investment chain. In the long run, this strategy usually provides a satisfactory return on investment.