During the year, there were 461 new indices, and the index investment fever continued to climb. On December 10th, in order to meet the investment demand of diversified indices, CSI Index Co., Ltd. officially released five new indices, including CSI 1000 Growth Index, CSI 1000 Value Index, CSI 2000 Growth Index, CSI 2000 Value Index and CSI 1000 Quality Balance Strategy Index. With the "listing" of the above five indexes, the number of newly-issued indexes reached 461 during the year, covering categories such as strategy, style, scale, industry, theme and other fixed-income indexes; Related index asset classes include stocks, fixed income, funds and futures. At the same time, the secondary market, this year, the heat of indexed investment is also high. Looking forward to the future, with the continuous vigorous growth of market demand and unabated heat, and the precise guidance and strong support from the supervisory level, the indexed investment ecology will become more and more perfect. (Securities Daily)On the morning of December 9, Leo, Party Secretary and Chairman of Shanghai Electric Group, went to Seoul, South Korea, and held talks with Zhao Xianjun, President of Xiaoxing Group. The two sides had in-depth exchanges on joint ventures and cooperation in the field of new energy. During the talks, the two sides also discussed the cooperation potential in the fields of hydrogen energy and power grid equipment, sought cooperation opportunities in technology research and development, project investment and market development, and jointly explored cooperative development models in the field of new energy to meet the challenges brought by global energy transformation.Guohai Securities gave Youyou Food Co., Ltd. the initial rating of buying.
Shenzhen Holdings: Auditor replacement: PricewaterhouseCoopers resigned and Ernst & Young took over. On December 10th, Shenzhen Holdings (00604.HK) announced that according to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, PricewaterhouseCoopers agreed to resign as the auditor of Shenzhen Holdings with effect from December 10th, 2024. At the same time, the board of directors of Shenzhen Holdings decided to appoint Ernst & Young as the new auditor of the company, which will also take effect from December 10, 2024 until the end of the next annual general meeting.CITIC Securities: In 2025, the performance boom cycle of the US Internet sector is expected to continue. According to CITIC Securities Research Report, looking forward to 2025, the macro resilience will continue, and the superimposed GenAI technology will continue to be introduced. The performance boom cycle of the US Internet sector is expected to continue, which is reflected in online advertising, e-commerce, streaming media, local life, financial technology and other sectors. However, the Trump administration's tariff increase & industry regulatory policies, inflation data, AI technology progress, etc. are expected to be continuous disturbance variables and need to be closely watched. At the level of individual stocks, the first-line Internet giants will still be the basic allocation. At the same time, we suggest that investors appropriately increase the allocation of small and medium-sized stocks in the fields of advertising technology and financial technology to enhance portfolio flexibility.CITIC Securities: The logic of "grabbing exports" is expected to support the short-term performance of China's exports. According to the CITIC Securities Research Report, in November, China's exports maintained a certain growth rate, exports to emerging markets maintained a high growth rate, and exports of mechanical and electrical products performed brilliantly. In the short term, both CCFI index and SCFI index are on the rise, and the logic of "grabbing exports" is expected to support the short-term performance of China's exports. In the long run, if the United States imposes tariffs on China, China's export performance may be dragged down. However, based on the analysis of the import share structure of the United States, the European Union, Vietnam, Mexico and other economies, we can see that the current pattern of China's trade diversification has improved compared with the last round of Sino-US trade friction, and the trade between emerging markets and China has become closer and closer. The imposition of tariffs by the United States on China may affect the bilateral trade between China and the United States more, and domestic enterprises going to sea and re-exporting trade may still be effective ways to hedge the impact of US tariffs on China.
Citic Jiantou: The demand for promoting the release of opinions on the pipeline network and water renovation in resilient cities is expected to increase. According to the research report of CITIC Jiantou, recently, the general offices of the General Office of the Central Committee of the CPC and the State Council issued the Opinions on Promoting the Construction of New Urban Infrastructure to Create a Resilient City, which clearly stated that it is necessary to build an intelligent and efficient new urban infrastructure system and continuously improve the resilience of urban facilities, management and space. Specifically, the Opinions propose that by 2027, the construction of new urban infrastructure will make significant progress, and the supporting role for the construction of resilient cities will be continuously enhanced, forming a number of experiences and practices that can be replicated and promoted. In addition, the Opinions also proposes the implementation of intelligent municipal infrastructure construction and transformation, and the digital transformation and upgrading and intelligent management of urban water supply, drainage, power supply, gas, heat, fire hydrants (fire cranes), underground utility tunnel and other municipal infrastructure according to local conditions. We believe that in the process of building a resilient city, the demand for urban infrastructure renewal and construction is expected to continue to grow, and related water and sanitation equipment enterprises are expected to benefit.Maotai Group went to Laos, Cambodia and Thailand for investigation and exchange. From December 3 to 9, local time, Wan Bo, member of the Party Committee and deputy general manager of Maotai Group, led a team to Laos, Cambodia and Thailand for investigation and exchange. Through in-depth investigation of the local market, the brand promotion activities of "Maotai Night" were carried out, which continued to promote Maotai's deep cultivation in Southeast Asia. During this period, Wanbo and his party also visited Eisenwo, Chairman of the China-Cambodia Friendship Exchange Association, Princess Norodom Allen Rasmi, Director of the Cambodian Royal Modita Foundation, former Thai Deputy Prime Minister Chichai Vanashati, Chairman of the Thailand-China Friendship Association and former Thai Deputy Prime Minister Gong Taparansi, and Lao Minister of Education and Sports Pu Simarong to discuss how Maotai culture and Southeast Asian cultures can be blended and promoted together to help Maotai and China traditional culture go to sea.Nikkei futures opened down 95 points at 39,290 on the Singapore Stock Exchange.