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People Finance News, March 23 – Qichacha APP shows that Beijing Xiaoxixing Creative Technology Co., Ltd. was recently established with Huang Jin as the legal representative. Its business scope includes: data processing and storage support services; sales of toys, anime, and entertainment products; sales of amusement and entertainment supplies; copyright agency; brand management, and others. According to Qichacha's equity penetration analysis, the company is jointly held by Beijing Guangxian Film and Television Co., Ltd., a wholly-owned subsidiary of Guangxian Media, and Ding Zhoujie.

This morning, global markets experienced sharp declines, with A-shares opening and closing lower. The Shanghai Composite Index fell below the 3,900-point level. Coal stocks rose against the market trend due to coal substitution effects and rising international prices. New energy concepts attracted capital inflows, with the photovoltaic sector showing strong performance. Tesla plans to procure photovoltaic equipment to boost market risk appetite.

Jianmin Group released its 2025 annual report, with operating revenue of 3.37 billion yuan, a decrease of 3.85% year-over-year; net profit of 360 million yuan, a decrease of 0.65% year-over-year. The company plans to distribute a cash dividend of 9 yuan per 10 shares. The decline in revenue was mainly due to the contraction of low-efficiency businesses, with pharmaceutical commercial revenue decreasing by 23.37%.

Longyuan Holdings will open for IPO subscription on March 23rd. The Ministry of Justice and other institutions released a draft financial law for public comment. The Ministry of Commerce introduced policies to promote travel services exports. Wang Wentao held talks with Apple CEO to strengthen China-US economic and trade relations. Market regulators accelerated investigations into previously exposed violations. Live pig market adjustments to address price declines. Unitree Robotics filed IPO application for 42.02 billion yuan in financing. Multiple companies announced earnings forecasts and shareholder reduction notices.

Today, the three major stock indices showed mixed performance, with the total market turnover reaching 2.3 trillion yuan. There were 660 stocks advancing, including 39 hitting the daily limit. This week, the Shanghai Composite Index decreased by 3.38%, the Shenzhen Component Index fell by 2.9%, and the ChiNext Index increased by 1.26%. Several utility and technology stocks surged over 20%, while more than 700 stocks declined by over 10%. Institutions are paying attention to Demingli and Tongkun Group, with the former experiencing large net purchases and the latter facing net sales.

People Finance News, March 23 — According to China Petroleum News, on March 22, Dai Houliang, Chairman of China National Petroleum Corporation, met with Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, and both sides fully exchanged views on deepening existing cooperation and exploring new areas of cooperation.

People Finance News, March 20—Tiens(300146) released its 2025 annual report on March 20. The company achieved operating revenue of 6.265 billion yuan, a year-over-year decrease of 8.38%; net profit attributable to shareholders of listed companies of 782 million yuan, a year-over-year increase of 19.81%. Basic earnings per share of 0.47 yuan. It is proposed to distribute a cash dividend of 4.5 yuan per 10 shares to all shareholders (inclusive of tax). During the reporting period, offline channels achieved revenue of 2.824 billion yuan, a year-over-year decrease of 17.39%; online channels achieved revenue of 3.372 billion yuan, a year-over-year increase of 0.28%.

With policy guidance and increased market demand, 7 brokerages have been approved to participate in carbon emission rights trading, expanding the total number to 25. Although China's carbon market is already the world's largest, insufficient liquidity remains a shortcoming. The entry of brokerages is expected to enhance market vitality. Through carbon finance services, brokerages support enterprises in their low-carbon transition, and liquidity and pricing efficiency are expected to improve.

RMB Finance News, March 20 — China Digital Media Corporation ((000156)) released its 2025 annual report on March 20. The company achieved operating revenue of 9.178 billion yuan, a decrease of 2.3% year-over-year; net profit attributable to shareholders of the listed company was 466 million yuan, a decrease of 12.65% year-over-year. Basic earnings per share were 0.25 yuan. The company plans to distribute a cash dividend of 1.6 yuan per 10 shares (tax included) to all shareholders. During the reporting period, the company focused on three core businesses: television, broadband, and 5G, continuously enhancing the quality of television and broadband services, upgrading over 300,000 terminals as part of ultra-high-definition transformation efforts, launching plug-in set-top boxes and integrated televisions, and implementing nationwide gigabit network initiatives with a gigabit user penetration rate of 156%. It also actively promoted the integrated development of provincial broadcasting and television with 5G, serving approximately 3 million users.

Recent research data from public funds shows that companies like Blue Fan Medical and Hailianxun in the pharmaceutical and technology sectors have attracted considerable attention, while interest in undervalued stocks such as banks has also increased. Under the consensus of "quality track + earnings certainty," fund managers are deploying capital more diversely, with primary focus concentrated in healthcare, information technology, electronic equipment, and automotive supply chains.

People Finance News on March 20 — On March 20, the Agricultural Development Bank of China (referred to as "China's Agricultural Development Bank") and COFCO Limited (referred to as "COFCO Group") renewed their strategic cooperation agreement. According to the agreement, the two parties will further strengthen business cooperation in areas including jointly ensuring stable grain supply, construction of storage and logistics systems, promoting agricultural modernization, international business and agricultural "going global," green credit, digital finance, branded consumer goods cooperation, and bond underwriting services.

People Finance News, March 23 — A new stock listing on the Beijing Stock Exchange is available for subscription today: Longyuan Co., Ltd. The total issuance is approximately 17 million shares, with an issue P/E ratio of 14.99x. Subscription code: 920055, Subscription price: 24.70 yuan.

People Finance News, March 20 – Yingluo Huajin (000795) released its 2025 annual report on March 20. The company achieved operating revenue of 3.884 billion yuan, down 3.11% year-over-year; net profit attributable to shareholders of listed companies reached 250 million yuan, up 0.93% year-over-year. Basic earnings per share was 0.23 yuan. The company proposes to distribute cash dividends of 1.25 yuan per 10 shares to all shareholders (including tax). During the reporting period, the company achieved good business growth in energy-efficient motors, consumer electronics, new energy vehicles and other fields, and successfully secured multiple new project awards, building momentum for sustained growth in the future.

People's Finance News, March 23 – The China Development Forum 2026 Annual Conference opened in Beijing yesterday (March 22). At the conference, relevant officials from the National Energy Administration stated that China will adhere to integrated multi-energy development and build a safe and resilient energy system. Vice Director of the National Energy Administration Wan Jingsong stated, "During the 15th Five-Year Plan period, China will, on the basis of ensuring continuous and stable energy supply, actively promote the development of multiple clean energy sources such as wind power, photovoltaics, nuclear energy, and biomass energy, and form a new-type energy system with complementary multi-energy sources and strong risk resistance capabilities. At the same time, we will also promote deep integration of the energy revolution and the digital revolution." (CCTV News)

On March 23, stock indices across both markets declined sharply, with the Shanghai Composite Index falling 2.5% and nearly 5,000 stocks moving lower. Sectors such as insurance and pharmaceuticals weakened, while coal and other sectors gained against the market trend. Galaxy Securities pointed out that geopolitical conflicts have intensified volatility in global risk assets, but the downside space for A-shares is limited. The market is expected to cope with external pressure through oscillating differentiation.

According to iFinD statistics, as of March 20, a total of 81 stocks in Shanghai and Shenzhen markets received continuous net margin purchases for 5 days or more. The stocks with the most consecutive days of net margin purchases are Rilian Technology, Jiangsu North Robotics, and Minsheng Bank, each receiving net purchases for 10 consecutive trading days; other stocks with relatively more consecutive days of net margin purchases include Shenzhen Sangda A, Sany Heavy Industry, Baofeng Energy, Chuangli Group, Zhongzhi Holdings, Huayang Group, Jingsheng Stock, and Taiching Optoelectronics.

People Finance News, March 23: According to Xiaomi Automobile, the new Xiaomi SU7 commenced deliveries today.

Israel's military operations against Iran have not ended and are expected to continue. JPMorgan Chase has warned that investor optimism regarding Middle East conflicts may lead to serious misjudgments, and rising oil prices will impact the global economy. U.S. stocks face downside risks, and the overall environment is deteriorating.

CITIC Securities points out that the gold market has shown widespread bullish sentiment since August 2025, with short-term sentiment potentially peaking in Q1 2026. Although medium-term downside is mainly driven by Federal Reserve monetary policy impact, long-term outlook remains bullish due to weakening US dollar status and accelerating internationalization of the yuan. Overall, gold prices are expected to resume an uptrend as liquidity shocks subside.