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On January 30th, Inspur Software announced that it expects to achieve a net profit attributable to owners of the parent company of approximately RMB -270 million in 2025. In 2025, affected by tight funds for clients, delayed project bidding, and delayed delivery and acceptance, the companys operating revenue declined, and gross profit decreased. During the reporting period, the company improved management efficiency through refined management and strengthened accounts receivable and collection management, resulting in a significant improvement in the net cash flow generated from operating activities compared to the same period last year. However, due to the decline in operating revenue and gross profit, the company expects to incur a loss.On January 30th, Bainaqiancheng announced that it expects a net loss of 800 million to 1.2 billion yuan in 2025. Affected by intensified competition in the content market, the companys multi-format film and television content segment faced significant pressure during the reporting period. The subject matter and content expression of some existing projects were no longer suitable for the current audiences aesthetic and demand trends in the content market. The company systematically reviewed and optimized its existing projects. For projects under development and existing projects with poor returns and significant uncertainties, measures such as closing down to stop losses, reducing scale, suspending new investment, and seeking external cooperation were taken. Simultaneously, the company retained its strong teams and concentrated resources on high-quality projects and well-performing business segments.On January 30th, the Shanghai Municipal Development and Reform Commission and the Shanghai Municipal Finance Bureau issued a notice regarding the implementation of the 2026 large-scale equipment renewal and consumer goods trade-in policy in Shanghai. The notice includes support for vehicle replacement and replacement. Individual consumers who transfer their passenger vehicles registered in their own name and purchase new energy passenger vehicles included in the "Catalogue of New Energy Vehicle Models Eligible for Vehicle Purchase Tax Reduction or Exemption" or fuel-powered passenger vehicles with an engine displacement of 2.0 liters or less will receive a vehicle replacement subsidy. The subsidy is 8% of the vehicle price for new energy passenger vehicles (maximum 15,000 yuan) and 6% of the vehicle price for fuel-powered passenger vehicles with an engine displacement of 2.0 liters or less (maximum 13,000 yuan).The Bank of Englands consumer credit figures for December were £1.524 billion, below the expected £1.7 billion and the previous figure revised from £2.077 billion to £2.143 billion.The Bank of Englands mortgage lending in December was £4.601 billion, below the expected £4.5 billion and the previous figure revised from £4.49 billion to £4.593 billion.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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