{"id":18101,"date":"2025-09-12T09:34:41","date_gmt":"2025-09-12T01:34:41","guid":{"rendered":"https:\/\/www.orientfutures.com.sg\/?p=18101"},"modified":"2025-11-05T17:28:08","modified_gmt":"2025-11-05T09:28:08","slug":"morning-brief-2025-09-12","status":"publish","type":"post","link":"https:\/\/of.sbwd.website\/zh\/research\/morning-brief-2025-09-12\/","title":{"rendered":"Morning Brief 2025-09-12"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">\u5206\u949f<\/span><\/span>\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18101\" class=\"elementor elementor-18101\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4025ec7 e-con-full e-flex e-con e-parent\" data-id=\"4025ec7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-945fb5f elementor-widget elementor-widget-text-editor\" data-id=\"945fb5f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Sectors<\/strong><\/p><p>-State Council agreed 10 cities including Beijing sub center to carry out the comprehensive reform pilot of market-oriented allocation of elements.<\/p><p>-State Council: Focus on comprehensive remuneration such as enterprise annuity,equity and options, and explore market-oriented allocation of talents.<\/p><p><strong>Industry<\/strong><\/p><p>-Recently, the amount of vehicle purchase tax paid by NEVs next year has attracted attention. According to the present policy, a vehicle purchase tax will be imposed on NEVs with purchase dates from Jan 1, 2026 to Dec 31, 2027,which will be halved. Among them, the tax reduction for each new energy passenger vehicle shall not exceed CNY 15,000.<\/p><p><strong>Co\u2019s focus<\/strong><\/p><p>-Han Xinyi, CEO of ANT GROUP: Resolutely no plan on issuing virtual currency and won\u2019t participate in any form of speculation.<\/p><p><strong>Sept 11 Block Trade Info<\/strong><\/p><p>*Discount<\/p><p>-BES (688608 CH) saw 2 block trades worth 4.65mn at 194.52yuan per share, 20.00pct discount from last closing.<\/p><p>-GIGADEVICE (603986 CH) saw 1 block trade worth 2.90mn at 145.16yuan per share, 10.00pct discount from last closing.<\/p><p>-China XD Polytechnic (601179 CH) saw 1 block trades worth 592.55mn at 5.78yuan per share, 9.97pct discount from last closing.<\/p><p>-Tongcheng New Materials (603650 CH) saw 6 block trades worth 113.12mn at 30.74yuan per share, 9.00pct discount from last closing.<\/p><p>&#8211; Huitai Medical (688617 CH) saw 1 block trades worth 537.29mn at 248.20yuan per share, 18.84pct discount from last closing.<\/p><p>*Flat<\/p><p>-Zhenji Aisung (300308 CH) saw 1 block trade worth 48.13mn at 385yuan per share, flat from last closing.<\/p><p>-Kema Technology (301611 CH) saw 1 block trade worth 52.12mn at 52.12yuan per share, flat from last closing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2604ec3 elementor-widget elementor-widget-button\" data-id=\"2604ec3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/of.sbwd.website\/wp-content\/uploads\/2025\/09\/Morning-Brief-2025-09-12.pdf\" target=\"_blank\" rel=\"nofollow\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download PDF<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">\u5206\u949f<\/span><\/span>China&#8217;s State Council agreed 10 cities including Beijing sub center to carry out the comprehensive reform pilot of market-oriented allocation of elements.<\/p>","protected":false},"author":3,"featured_media":18104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","_links_to":"","_links_to_target":""},"categories":[33],"tags":[],"post_language":[],"class_list":["post-18101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Morning Brief 2025-09-12 - Orient Futures Singapore<\/title>\n<meta name=\"description\" content=\"China encourages enterprise annuity, equity, and options in pay, exploring market-based talent allocation, says State Council.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" 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