Pre-market report of A-shares | State Council announces 18 measures to promote cultural and tourism consumption. China Securities Regulatory Commission clarifies key tasks for this year.

Investment Calendar The State Council Information Office press conference will introduce the financial situation Editorial Opinion Editorial Opinion: Yesterday, the three major indexes showed divergent trends, with the ChiNext board being relatively strong, and market trading volume falling below the trillion level; China Securities Co., Ltd. believes that actively laying out the next round of offensive market, focusing on electronics, communications, etc. Pre-market News 1. The State Council issued 18 measures! Prosperity in cultural and tourism consumption, restructuring the China Tourism Industry Fund Type: Industry Emotional Impact: Positive The General Office of the State Council issued a notice proposing to hold a series of cultural and tourism promotion events, encouraging the issuance of cultural and tourism consumption vouchers; introducing special tourism products such as ice and snow tourism, avoiding heat and cold tourism, developing nighttime cultural and tourism economy; expanding effective investment in cultural and tourism, accelerating the restructuring of the China Tourism Industry Fund. 2. The China Securities Regulatory Commission clarifies key tasks for this year: implementing market value management guidelines, increasing dividends, buybacks incentives Type: Market Emotional Impact: Positive The China Securities Regulatory Commission held a 2025 system work conference to discuss and deploy key tasks for 2025. The meeting proposed further opening up the bottlenecks for medium and long-term funds to enter the market; fully implement market value management guidelines for listed companies, increase incentives for dividends and buybacks of listed companies; further play the role of the capital market as the main channel for mergers and acquisitions. 3. The Biden administration announces a new round of restrictions on AI chips, Nvidia, Oracle, and other giants strongly criticize Type: Industry Emotional Impact: Neutral The Biden administration issued new regulations, imposing quotas and restrictions on AI chip exports to more than 100 countries and regions globally, China and Russia are banned from purchasing the most powerful "closed" artificial intelligence models; Nvidia issued a statement criticizing the Biden administration. Oracle said that this new regulation could become one of the most destructive policies in American tech history. 4. A-share performance forecasts are intensively released, with nearly 60% of them being optimistic! Jiangsu Zhengdan Chemical Industry's net profit is expected to increase by over 110 times last year Type: Company Emotional Impact: Positive Currently, a total of 139 listed companies on the A-share market have disclosed their 2024 performance forecasts, with 80 being optimistic, with an optimism rate of about 57.55%. Jiangsu Zhengdan Chemical Industry is expected to earn 1.1 billion to 1.3 billion, a year-on-year increase of 11039% to 13064%; NAURA Technology Group expects net profit to increase by 32.6% to 52.6% year-on-year; STO Express Co., Ltd. expects net profit to increase by 178.84% to 208.19% year-on-year. Institutional Perspectives 1. China Securities Co., Ltd.: The logic of the bull market has not been broken, actively laying out the next round of offensive market, focusing on electronics, communications, etc. 2. Cinda: The period before the Spring Festival may be the second buying opportunity, and it is recommended to allocate financial real estate and upstream cycles in the next month. 3. Orient: External negative factors suppress risk appetite, the market continues its volatile trend, with a preference for high dividend stocks in allocation. Prospects for Positive and Negative News 1. Morgan Stanley raises ratings on Air China Limited, China Eastern Airlines, and China Southern Airlines A shares Type: Market Hot topic Galaxy Securities: The demand for civil aviation travel in 2025 is expected to further release, with the optimization of supply-demand patterns and the improvement of oil and exchange rates. Under the marginal improvement of several factors, the marketization space for ticket prices will further open up, and airlines are expected to usher in a situation of both quantity and price rise. 2. New company name announced! After acquiring Minsheng Securities, Guolian is planning to rename itself Guolian Minsheng Type: Market Hot topic Aviation Securities: Mergers and acquisitions are an effective means for securities firms to achieve outward development. It plays a positive role in enhancing the overall competitiveness of the industry, optimizing resource allocation, and promoting healthy market development. It is expected that industry mergers and acquisitions will continue to accelerate. 3. Huawei releases ten trends in data center energy, algorithmic synergy is expected to drive liquid cooling, energy storage industry Type: Market Hot topic Guosheng Securities: AIDC energy infrastructure is expected to undergo comprehensive upgrades. The main bottleneck for overseas data centers is power shortage, while domestic centers are characterized by upgrades and replacements of existing data centers; under different demand backgrounds for energy, the energy track demonstrates a highly potential investment opportunity both domestically and internationally. Announcements Slightly positive announcements 1. Jiangsu Sainty Corp., Ltd.: Shareholder Su Haoya Europe Group accumulatively increased its stake by 1.57% 2. Hygon Information Technology: It is expected that the net profit for 2024 will be between 1.81 billion and 2.01 billion yuan, a year-on-year increase of 43% to 59% 3. Shanghai Gentech: Net profit for 2024 is expected to increase by 30% to 40% year-on-year Slightly negative announcements 1. Shaanxi Meibang Pharmaceutical Group: The stock has clear signs of the "Hot Potato Effect", with the possibility of rapid decline at any time. 2. Dawei Technology (Guangdong) Group: It is expected to incur a loss of 15 million to 30 million yuan in 2024 3. Anhui Truchum Advanced Materials and Technology: Net profit for 2024 is expected to decrease by 56.54% to 62.21% year-on-year Overseas Markets Self-selected Brother's reminder: The three major U.S. indexes have mixed gains and losses, with technology stocks continuing to fall, the Nasdaq seeing its fourth consecutive decline, and the market's expectations for a rate cut by the Federal Reserve further cooling. U.S. Treasury bond yields have risen sharply, with most popular Chinese concept stocks falling. This article is republished from "Tencent Stock Selection", edited by Chen Xiaoyi, GMTEight.