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July 2nd - Three mandatory national standards for the photovoltaic (PV) industry were officially approved and released today. These standards establish rigid energy consumption and efficiency constraints across the entire PV industry chain, from silicon materials and wafers to PV modules and inverters. By standardizing these standards, the green management system of the PV industry chain is improved, providing institutional support for the high-quality development of the new energy industry. The Ministry of Industry and Information Technology, in conjunction with the National Development and Reform Commission and the State Administration for Market Regulation, released three mandatory national standards for PV energy consumption and efficiency: "Energy Consumption Limits per Unit Product of Monocrystalline Silicon," "Energy Efficiency Limits and Energy Efficiency Grades for Crystalline Silicon PV Modules and Inverters," and "Energy Consumption Limits per Unit Product of Polycrystalline Silicon and Germanium." These standards cover key links in the PV industry chain, including polycrystalline silicon, wafers, modules, and inverters. They set energy consumption and efficiency indicators for relevant products at different levels, strictly controlling high-energy-consuming and inefficient production capacity at each stage. For modules, the standards innovatively incorporate the coupling environment stress attenuation rate evaluation index. Next, relevant industry organizations will accelerate the dissemination, interpretation, and implementation of these standards to solidify my countrys global competitiveness in the PV industry and support the green and low-carbon transformation of energy and the achievement of "dual-carbon" goals.July 2nd - Tencent Wealth Managements current account + 7-day annualized yield ranges from a high of 1.0630% to a low of 0.7850%, WeChat Pays 7-day annualized yield ranges from a high of 1.0070% to a low of 0.9750%, and Alipays Yuebaos 7-day annualized yield ranges from a high of 1.0220% to a low of 1.0010%.Crude oil futures (2608 contract) fell 5.06% intraday, last trading at 437.1 yuan/barrel, with open interest increasing by nearly 2,700 lots, indicating increased volatility in the market.SK Hynix CEO: The company will put its new packaging plant P&T7 into operation by the end of 2027.July 2nd - The revised "Detailed Rules for the Review of Production Licenses for Infant and Toddler Complementary Foods (Draft for Public Comment)" has been released for public comment. The new regulations further tighten licensing requirements and improve product quality. Infant and toddler complementary foods refer to cereal-based complementary foods, canned complementary foods, and nutritional supplements for infants and toddlers aged 6 to 36 months. The revised draft imposes stricter control requirements on the raw materials and ingredients of infant and toddler complementary foods.

Nissan Shares Increase Following A Restructuring of The Renault Alliance

Charlie Brooks

Jan 31, 2023 11:15

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Tuesday morning in Tokyo, shares of Nissan (OTC:NSANY) Motor Corp soared as the Japanese automaker and its French partner Renault SA (OTC:RNLSY) announced a comprehensive revamp of their two-decade-old partnership placing them on equal footing.


In early trading, Nissan's stock rose as high as 3.1% before giving back gains. At 02:08 GMT, they were up 2%, surpassing the Nikkei 225 average, which was in the red.


In accordance with the agreement announced on Monday, Nissan and Renault (EPA:RENA) will now hold 15% shares in each other, and Nissan's holding will include voting rights. Previously, Renault owned approximately 43 percent of the Japanese automaker, while Nissan had no voting rights.


Nissan executives had long been dissatisfied with the unbalanced character of the cooperation.


Following Monday's announcement, Masayuki Kubota, chief strategist at Rakuten Securities, told Reuters, "The normalization of the capital relationship will increase Nissan's management freedom, making it easier for the company to adopt a strategy that focuses on the United States, China, and emerging markets."


Renault placed approximately 28% of the Japanese manufacturer in a French trust as part of the transaction, which includes a lock-up that prohibits share sales for a specified time period and a standstill obligation that imposes additional restrictions on stock transactions.


The restructure addresses past issues with shareholder governance, as Nissan was unable to use its voting rights, according to a note by Nomura analyst Masataka Kunugimoto.


"A connection in which both firms have equal voting rights of 15% in the other company should significantly decrease governance difficulties," stated Kunugimoto. Overall, we anticipate that this statement will result in a reevaluation of Nissan's stock price.


Nomura has a "buy" rating and a price target of 750 JPY on the stock, significantly above Tuesday's high of 468.1 yen.


Nissan's stock has declined by around 23% over the previous three years, trailing industry leader Toyota Motor (NYSE:TM) Corp by 24% and Renault by 4%.


Monday's closing price for Renault shares was 4% lower after the agreement was announced.

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