A-share pre-market broadcast | Market value management, mergers and acquisitions usher in heavyweights, new catalysts for weight loss drugs

Morning important news overview 1. CSRC clarifies! Companies with long-term undervaluation should formulate valuation improvement plans, public funds optimistic about dividend assets Importance: The CSRC has issued a document clarifying that companies with long-term undervaluation should formulate valuation improvement plans, and main index constituent companies should establish market value management systems. Public funds believe that this is a major positive for dividend assets that provide stable dividends, and are optimistic about the performance of dividend assets in the future. 2. Shenzhen plans to encourage mergers and acquisitions! Draft opinion solicitation has been drafted to establish a merger and acquisition project library Importance: According to the Shenzhen Municipal Party Committee's Financial Office, Shenzhen has drafted measures to promote mergers and acquisitions of listed companies including establishing a merger and acquisition project library, using the "turning R&D into investment" method to set up merger funds, and introducing talent in "industry + finance" merger and acquisitions. 3. Two departments: Some export tax rebate rates for finished oil, photovoltaics, and non-metallic mineral products reduced to 9% Importance: The Ministry of Finance and the State Administration of Taxation issued an announcement adjusting the export tax rebate policy. According to the announcement, export tax rebates for some finished oil, photovoltaic, battery, and some non-metallic mineral products have been reduced from 13% to 9%. 4. Foreign capital buys Chinese assets in a frenzy! Wall Street's well-known fund managers buy multiple Chinese concept stocks in the third quarter Importance: According to the latest 13F report disclosed by the U.S. Securities and Exchange Commission, Michael Barry, the prototype of Hollywood movie "The Big Short", increased his holdings of Alibaba, Baidu, JD.com, and other Chinese concept stocks in the third quarter of this year. Legendary hedge fund figure David Tepper, who previously shouted "buy all China-related assets", also significantly increased his holdings of Pinduoduo and JD.com in the third quarter. Financial calendar Zixuange reminds that there is a new stock, Lianyun Technology, available for subscription in the Shanghai and Shenzhen stock markets today, with no new stocks listed. G20 Leaders' Summit held Opportunities to watch out for Zixuange has identified investment opportunities being watched by the market, including weight loss drugs, solid-state batteries, and liquid cooling. 1. Average weight reduction of 17%! Novo Nordisk announces the official launch of Saxenda weight loss drug in China On November 17th, Novo Nordisk announced that Saxenda GLP-1RA (glucagon-like peptide-1 receptor agonist) weekly formulation, used for long-term weight management, was officially launched in China. Review: Ping An Securities believes that weight management aids in fighting chronic diseases, and the weight loss drug industry in China is competitive. It is recommended to pay attention to upstream raw material manufacturers, midstream weight loss drug CDMO companies, and downstream weight loss drug research and pharmaceutical companies. 2. Huawei's new breakthrough, overcoming the difficult issue of silicon-based negative electrodes! Acceleration of the application of solid-state batteries in the industry On November 15th, the National Intellectual Property Administration disclosed that Huawei has publicly announced a patent for silicon-based negative electrode materials, titled "Silicon-based negative electrode materials and their preparation methods, batteries, and terminals." This patent mainly solves the problem of low battery cycle performance caused by the excessive expansion effect of silicon-based materials, improving the cycle stability of the negative electrode. Review: CITIC Securities believes that leading car manufacturers are leading the development of solid-state batteries, with ongoing reforms accumulating, and the aviation sector becoming an important application scenario. Battery manufacturers, solid-state electrolyte companies, and companies related to the solid-state battery industry chain segments that are laying out solid-state battery businesses are expected to benefit significantly. 3. Beijing accelerates the optimization and upgrading of existing data centers, will promote the application of liquid cooling technology in data centers Three departments including the Beijing Municipal Bureau of Economy and Information Technology recently jointly issued the "Beijing Municipality Existing Data Center Optimization Plan (2024-2027)", aiming by 2027 to comprehensively reach the local standard level of energy efficiency of data centers and reduce the annual average PUE value (power usage effectiveness) to below 1.35. Review: CITIC Securities predicts that the global liquid cooling market will reach approximately 85.8 billion by 2027, and the Chinese liquid cooling market will exceed 10 billion, with a CAGR of over 100% from 2023 to 2027. Companies with full-chain capabilities in liquid cooling systems are recommended, with a focus on suppliers of cold plates, pipelines, quick-connect joints, and other related components. Market outlook Minsheng Securities: The market is transitioning from speculative styles to normalization Minsheng Securities believes that historical experience shows that after A shares rapidly rise to their peak under high volatility, there is often a shift in style. The recovery of the domestic economy has weakened the policy expectation game and helped the market return to the reality of fundamentals. After experiencing positive trading and the impact of the second phase of the Trump trade, risks are mainly unfavorable for risk assets. Similarly, physical assets have been suppressed by the above factors, but in the long term, the narrative of de-dollarization and global supply chain restructuring will ultimately be strengthened. Positive and negative announcements of listed companies In terms of slightly positive news, Zixuange suggests paying attention to Mudanjiang Hengfeng Paper's plan to issue shares to purchase the equity of Sichuan Jinfeng Paper Industry Co., Ltd.; on the slightly negative announcement side, pay attention to Solareast Holdings, which has had 9 daily limit-ups in 10 days. Slightly positive announcements 1. Mudanjiang Hengfeng Paper: Plans to issue shares to purchase 100% equity of Sichuan Jinfeng Paper Industry, trading suspended from November 18th 2. Nanjing Business & Tourism Corp.,Ltd.: Plans to adjust the asset restructuring plan, stock suspended from November 18th 3. Hubei Huarong Holding: Planning for changes in controlling shares, stock suspended from November 18th 4. Shanghai Awinic Technology: Sold TongFu Microelectronics stocks with a cumulative profit of 24.0724 million yuan 5. Shenma Industrial: Plans to repurchase company shares for 150 million to 300 million yuan 6. Spring Airlines: International capacity in October increased by 122.9% year-on-year 7. Hainan Ai (continued in next message)Rlines Holding: Passenger transportation volume in October increased by 13.12% year-on-year.Negative Announcement 1. Solareast Holdings 9-Day Trading Suspension: The company currently has no plans for large-scale promotion of the solar energy storage and charging station business. 2. China Security 7-Day Trading Suspension: The Yixing project company has just been established, and there is significant uncertainty regarding future investment and scale. 3. Doushen (Beijing) Education & Technology Inc.: Abnormal fluctuations in stock trading, with AI education product revenue accounting for no more than 4%. 4. Zhejiang Hengda New Material: Longyou Lianlong intends to reduce its stake in the company by no more than 2%. 5. Jiangsu Hengxing New Material Technology: Shareholders plan to collectively reduce their stake in the company by no more than 2.93%. Lifting of Restrictions List In terms of the lifting of restrictions, Hangzhou Zhengqiang Corporation's actual lifting ratio in the next 5 days will reach 73.75%, followed by Ningbo Fujia Industrial and Shanghai Yct Electronics Group. Overseas Markets As mentioned by Self-selected Brother, market concerns about interest rate cuts have impacted the market, with the three major U.S. stock indices falling last Friday; RMB assets have risen, with the Chinese concept stock index up by 0.8%, and offshore RMB slightly appreciating; gold futures fell by 0.11%, at $2570.10 per ounce; and crude oil futures closed at $67.02 per barrel, a decrease of 2.45%. This article is reproduced from "Tencent's Self-selected Stocks" with editing by GMTEight: Jiang Yuanhua.