--- title: "Financial Industry Daily (06.28): Financial Industry Trends" type: "News" locale: "en" url: "https://longbridge.com/en/news/291064504.md" description: "Financial Daily Summary: Brokerage firms expect significant growth in mid-year performance, with active trading in A-shares; the China Banking and Insurance Regulatory Commission disclosed insurance premium data for May. Guangzhou faces challenges in industrial transformation and support for private enterprises. Meituan CEO Wang Xing admitted to strategic errors, with the company expected to incur a net loss of 18.65 billion yuan in 2025, shifting to a loss reduction and repurchase model. BAIGE DIGITAL will be listed on the Hong Kong Stock Exchange tomorrow, raising a net amount of HKD 470 million" datetime: "2026-06-28T19:40:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291064504.md) - [en](https://longbridge.com/en/news/291064504.md) - [zh-HK](https://longbridge.com/zh-HK/news/291064504.md) --- # Financial Industry Daily (06.28): Financial Industry Trends ## Company News > **Weekly Viewpoint: Increased Trading Activity Drives High Growth Expectations for Brokerage Mid-Year Reports** > > The China Banking and Insurance Regulatory Commission disclosed the operating conditions of the insurance industry in May: life insurance original premium income increased by 6% year-on-year, while property insurance original premium income decreased by 1% year-on-year. Brokerage mid-year report performance expectations are high, with trading activity in the A-share market significantly increasing, and the average daily stock trading volume in the Shanghai and Shenzhen markets growing by 96.0% year-on-year. A total of 74 A-share IPOs were issued, raising 90.74 billion yuan, a year-on-year increase of 142.9%. > **Guangzhou's Transformation Dilemma: When the Halo of "World's Top 500" Fades, Who Can Carry the Banner of Private Enterprises?** > > Guangzhou faces challenges in industrial iteration during its economic transformation over the past decade, with a limited number of World’s Top 500 companies, particularly insufficient development of private enterprises. Evergrande Group and Xuesong Holdings were once the two major private World’s Top 500 companies in Guangzhou, but in recent years, their actual controllers have been sentenced to heavy penalties for alleged crimes, raising concerns about corporate operational issues. Guangzhou needs to support private enterprises to achieve industrial upgrades, cultivate global enterprises through technological innovation and legal integrity, and regain the glory of a first-tier city. > **Facing the Takeout War, AI Changes, and Strategic Mistakes, Wang Xing Presses Meituan** > > Meituan's annual shareholder meeting was held, where CEO Wang Xing admitted that the stock price has not been ideal in recent years and emphasized that there are no plans to sell shares. The company expects a net loss of 18.65 billion yuan in 2025, mainly due to fierce competition in the takeout and instant retail sectors. Meituan plans to conduct stock buybacks and revealed it will exit some external investments. Wang Xing reviewed the strategic mistakes of the past five years, including entering overseas markets too late and issues with the Meituan Preferred model. Meituan's investment landscape covers areas such as AI large models and embodied intelligence, with an investment scale exceeding 65 billion yuan. Meituan is shifting from a "burning money for growth" model to a recovery model of "reducing losses, buybacks, and monetizing investments." > **BAIGE DIGITAL to Go Public Tomorrow: Net Fundraising of 470 Million HKD with Annual Revenue of 1.2 Billion and Loss of 46.67 Million** > > BAIGE DIGITAL will be listed on the Hong Kong Stock Exchange tomorrow (June 28) with an issue price of 15.6 HKD, raising a total of 520 million HKD, with a net amount of 466 million HKD after deducting listing expenses. Cornerstone investors subscribed for 20 million HKD. Revenue is expected to be 660 million, 914 million, and 1.227 billion yuan from 2023 to 2025, with operating losses of 10.39 million, 18.92 million, and 35.22 million yuan respectively. After the IPO, Fujian Helihome holds 40.43%, and New Hope holds 12.43%. > **Jianghuai Automobile's Stock Price Halved in Four Months! China's "Number One Retail Investor" Zhang Jianping Cuts Losses** > > Jianghuai Automobile's stock price has halved in just over four months, with Zhang Jianping's wife, Fang Wenyuan, selling 9.235 million shares within 9 trading days, cashing out approximately 290 million yuan. Previously, Fang Wenyuan and Ge Weidong jointly invested 1 billion yuan to participate in Jianghuai Automobile's 3.5 billion yuan private placement, holding 20.0481 million shares. The decline in Jianghuai Automobile's stock price is related to pressure on the company's fundamentals, with a projected net loss of 1.7 billion yuan in 2025 Despite the leading sales of the high-end brand "ZunJie" in collaboration with Huawei, the performance boost is limited. ## Industry Dynamics > **Is Apple no longer relying on Samsung? First consideration of Chinese chip supply** > > Apple’s stock price has fallen due to rising memory costs, seeking support from the Chinese government to procure DRAM memory from ChangXin Storage. This collaboration highlights China's rise in the storage sector and the global AI wave's demand for storage resources. As a leading enterprise in the domestic DRAM field, ChangXin Storage is breaking the monopoly of international giants through technological innovation and cost advantages. In this global storage and AI game, consumers need to pay attention to changes in pricing power within the supply chain and be wary of cost pass-through. > **With 50 billion in hand, Liang Wenfeng starts recruiting** > > DeepSeek has released large-scale recruitment information, planning to expand the size of all departments by at least double, covering 33 positions across 7 categories, with work locations in Beijing and Hangzhou. The company has completed its first round of external financing, totaling over 50 billion yuan, with a valuation of approximately 338 billion yuan. DeepSeek emphasizes no KPI setting, valuing candidates' highlights in specific fields, and allowing newcomers to take on core tasks directly. This recruitment aims to reserve engineering capabilities for a larger-scale computing power cluster and focus on building data barriers across multiple languages and disciplines. > **Li Zexiang incubates, with annual shipments of millions of units, robot company aims for IPO in 6 years** > > The China Securities Regulatory Commission disclosed on June 26, 2026, the filing notice for the overseas issuance and domestic unlisted shares "full circulation" of Benmo Power (Beijing) Technology Co., Ltd. Founded in 2020, Benmo Technology provides direct-drive precision power solutions, mainly serving the small wheeled robot industry. The company has received investments from several well-known institutions, with shipments of robotic joint modules reaching millions of units by 2025. > **HSBC: Loss of 300 yuan per pig, countdown to industry rebound** > > HSBC Securities' latest research report shows that the pig industry is suffering severe losses, with losses exceeding 300 yuan per pig, marking the second deepest loss cycle since 2014. However, the supply contraction inflection point is set for the fourth quarter of 2026, initiating the countdown for pig price rebound. The report maintains "buy" ratings for Muyuan, Wen's, and Haida, indicating that the industry's darkest hour is turning towards recovery, and opportunities for layout are emerging. > **240 billion, the largest PE loan is out** > > Apollo Global Management and Blackstone have jointly finalized a $35 billion private credit financing agreement to support Anthropic's computing power expansion, setting a record for private credit and chip-specific financing transactions. The deal, named "Big Sky Project," involves Apollo's AtlasSPPartners establishing an SPV to procure chips worth $35 billion to lease to Anthropic, with the debt not entering Anthropic's balance sheet. Broadcom guarantees, significantly lowering interest rates. PE institutions are leading a major expansion of AI computing power, with private credit becoming the main force to fill the capital gap _This article is generated by Xiao Ou AI based on Yiou data. 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