Pre-market report on A-shares | State Council issues document! Expanding the scope of special bond investments; five departments formulate policies for the development of the data industry.

Investment Calendar The 2024 China Siasun Robot & Automation Network Annual Meeting is being held today. Editor's Point of View Editor's Point of View: The market fluctuated and adjusted yesterday, with funds clustering in high dividend assets, and micro-cap stocks falling sharply again; Zhongtai believes that state-owned enterprises with high dividends may once again become the market's main focus. Pre-market News 1. State Council: Emerging industries such as low-altitude economy to be included in special bonds for project capital Category: Macro Sentiment Impact: Positive The State Council Office issued the "Opinions on Optimizing and Improving the Management Mechanism of Local Government Special Bonds," stating that emerging industries such as low-altitude economy, quantum technology, commercial aerospace infrastructure, computing equipment, and auxiliary equipment infrastructure will be included in special bonds for project capital. 2. Data Bureau and five other departments: Formulate policies to promote the development of the data industry and support enterprises in developing artificial intelligence Category: Industry Sentiment Impact: Positive To fully tap the value of enterprise data resources and build a digital economy with data as a key element, the National Bureau of Statistics and five other departments issued a document to support enterprises in developing artificial intelligence and developing high-quality data sets. In key industries, a number of demonstrative and driving artificial intelligence innovation applications will be created. 3. Focus on real estate work next year: Continuously promote market stabilization and continue to expand urban village transformation Category: Industry Sentiment Impact: Positive For real estate work in 2025, the National Housing and Urban-Rural Development Work Conference has identified five key tasks, continuing to push for market stabilization in the real estate market; industry insiders believe that the monetization of urban village transformation may play a substantial role in new home sales in 2025. 4. Dividend factors overlaid valuation reshaping! Industrial and Commercial Bank of China, Agricultural Bank, Bank of China, and Construction Bank hit new highs again, the industry still in a collective net-breaking state Category: Market Sentiment Impact: Positive Recently, bank stocks have performed significantly better than the market, with shares of the four major state-owned banks, Industrial and Commercial Bank of China, Agricultural Bank, Bank of China, and Construction Bank, reaching historical highs one after another. Institutions believe that this is mainly related to dividend factors and valuation reshaping. As of the latest data, bank stocks are still in a collective net-breaking state, with the management of state-owned enterprises by the central government repeatedly mentioned, and industry valuation regression can be expected. Institutional Views 1. Zhongtai: Active funds drive thematic cyclical adjustments, state-owned enterprises with high dividends may become the market's main focus again. 2. Shenwan Hongyuan Group: The Spring market may just be a volatile market, with high dividend pulsating rebound, and high elasticity is still in small-cap growth. 3. Orient: The market is still in a division, with a clear trend of emphasizing large and neglecting small, avoiding the impact of poor performance. Positive and Negative Prospects 1. Three departments: Encourage enterprises to explore new applications of intelligent R&D and develop "artificial intelligence +" software Category: Policy Focus Sinolink: With the cost of using large models decreasing and the capabilities of Chinese language models improving, the application of landing is expected to accelerate. Chinese companies have cultural foundations, data accumulation, scenario understanding, engineering applications, and other advantages, and have the opportunity to become industry leaders. 2. Nearly 30 companies will participate in the energy storage industry to hold a closed-door seminar to prevent cut-throat competition Category: Policy Focus CICC: In 2024, there was a significant increase in the bidding and planning volume of energy storage projects, combined with continuous advancement of policies, technology, cost reduction, and other factors in recent years. A global high-speed growth turning point may come early, with a positive outlook for the global demand for energy storage in 2025. 3. Cross-border air-ticket bookings are expected to significantly increase around New Year's Day, with institutions optimistic about the improvement in domestic tourism popularity Category: Market Heat Sinolink: With consumers increasingly focusing on leisure experiences, the trend of popularization of tourism continues. It is expected that the sustainability of domestic tourism popularity will continue, with scenic area companies benefiting directly from increased customer flow and OTA platforms benefiting directly from the release of leisure demands, while the competitive landscape stabilizes and improves. Announcement Express Slightly positive announcements 1. Hangzhou Hikvision Digital Technology: Plan to buy back company shares worth 2 to 2.5 billion yuan. 2. Hengyi Petrochemical: Controlling shareholder intends to increase its stake in the company by 250 million to 500 million yuan. 3. Kidswant Children Products: Expected net profit for 2024 is 160 million to 211 million yuan, a growth of 52.21% to 100.73% compared to the same period last year. Slightly negative announcements 1. Wei Long Grape Wine: Controlling shareholder Yan Pengfei was placed under residential surveillance for suspicion of embezzlement. 2. Deluxe Family: Shareholder Shanghai Zexi's 5.62% stake will be auctioned off judicially. 3. Ningbo Shanshan: Some shares of the controlling shareholder have been frozen. Overseas Markets Selected Brother's Reminder: Due to the Christmas holiday, most European and American stock markets were closed on Wednesday. In terms of important news in the global market, Hamas stated that Israel had proposed new conditions, delaying the ceasefire agreement in Gaza, and Ukraine received the first proceeds from the freezing of Russian overseas assets. This article is reproduced from "Tencent Self-Selecting Stocks", GMTEight Editor: Liu Xuan.