Pre-market report on A-shares | As it concerns building a strong nation through education, a comprehensive deployment is underway; to stabilize the capital market, the People's Bank of China and the China Securities Regulatory Commission have held a meeting.

Pre-market news 1. The Central Committee of the Communist Party of China and the State Council have released a major policy! Concerned with building a strong education system, comprehensive deployment is here. Type: Industry Sentiment Impact: Positive The Central Committee of the Communist Party of China and the State Council have issued a plan for building a strong education system, making a comprehensive and systematic deployment to accelerate the construction of a strong education country. The document proposes shaping a new pattern of moral and intellectual education, strengthening basic education, enhancing the overall strength of higher education, accelerating the construction of a modern vocational education system, and improving the education's strategy for opening up to the outside world. 2. Stabilize the capital market! The People's Bank of China and the China Securities Regulatory Commission jointly hold a symposium on stock repurchase and additional loan for holdings. Type: Market Sentiment Impact: Positive The People's Bank of China and the China Securities Regulatory Commission jointly held a symposium on stock repurchase and additional loan for holdings, further leveraging policy tools to stabilize the capital market. Financial institutions present at the meeting expressed that the stock repurchase loan products are widely welcomed, and the driving effect of policy tools is gradually being demonstrated, playing an important role in maintaining the stable operation of the capital market and boosting market confidence. 3. TikTok announces the resumption of services in the U.S., Trump says it is highly likely to extend the TikTok ban for 90 days. Type: Company Sentiment Impact: Positive TikTok released a statement stating that it is resuming services for U.S. users and will work with U.S. President-elect Trump to develop a long-term solution to allow TikTok to continue to "stay in the U.S." Trump also stated that he will issue an executive order on the 20th to delay the legal effective time of TikTok's "sell or ban" law. 4. State-owned Assets Supervision and Administration Commission of the State Council: Continuously improve and strengthen market value management, vigorously promote strategic restructuring of central enterprises. Type: Macro Sentiment Impact: Positive The relevant person in charge of the State-owned Assets Supervision and Administration Commission stated at a press conference that they will continuously improve and strengthen market value management, optimize the management of state-owned equity in listed companies; by 2025, they will continue to improve the quality of controlling listed companies of central enterprises, promote the strength, excellence, and enlargement of state-owned capital and state-owned enterprises; continue to carry out new company formation and intensify efforts to promote strategic restructuring. Investment calendar Trump holds his inauguration today. Investment tips Take advantage of the market's bipolar emotional fluctuations, buy stocks at prices below their intrinsic value. Invest within your abilities and avoid investing in companies that are difficult to understand. Place small bets on stocks with minimal downside risk and significant upside potential due to pricing errors. [Eng] William Green's "Richer, Wiser, Happier" Editor's Note Last Friday, the three major indexes collectively rose, and market sentiment is gradually warming up; CITIC Securities believes that trading ahead of the curve is happening, and the spring offensive will come early. Institutional Views CITIC Securities: Trading ahead of the curve is happening, the spring offensive will come early, maintain a barbell strategy of dividends + themes. Haitong Securities: The market dynamics on September 24th can be defined as a reversal. Structurally, the fundamentals of technology and high-end manufacturing trends are better. Orient Securities: Short-term external disruptions are basically digested, and pre-holiday stock indexes continue to oscillate higher, optimistic about dividends and semiconductor stocks. Positive and negative events ahead 1. Breaking the billion mark at the fastest rate! The Spring Festival box office pre-sales explosion, the film market shows signs of recovery. Type: Market hot topic Open Source Securities: Considering the high market expectations for the 2025 Spring Festival movies, it is expected that the total box office for the 2025 Spring Festival will be 85.4 billion yuan, a year-on-year increase of 6.7%, and is expected to set a new historical high. Actively pay attention to the resilience brought by the Spring Festival movies to relevant production companies and film investment and theater chain companies. 2. The detailed rules for implementing the old-for-new policy for cars in 2025 have been released, and institutions are optimistic about the continued recovery of the auto market this year. Type: Policy focus Dongguan Securities: The entire year of 2024 showed a U-shaped growth in the car market, successfully completing the closing battle. In 2025, the "two new" policies followed by policies emerged, coupled with many car companies renewing purchase rights, are expected to drive the sustained recovery of the car market in 2025. 3. Digital product subsidies are gradually implemented in various places starting today, and the consumer electronics industry chain welcomes new opportunities. Type: Policy focus Guokai Securities: Under the empowerment of AI, the consumer electronics sector is expected to start a new round of innovation cycle, stimulate the demand for upgrades of PCs and mobile phones, and new terminal devices such as AI glasses will also seize opportunities, and the industry chain is expected to achieve quantity-price growth; At the same time, the P/E ratio of the consumer electronics sector is at a historically relatively low level. Announcement Express Slightly positive announcements Shandong Nanshan Aluminium: Net profit for 2024 is expected to increase by 30% to 40%. Shenzhen Changhong Technology: Net profit for 2024 is expected to increase by 184.31% to 279.09% year-on-year. Zhejiang Yonghe Refrigerant: Net profit for 2024 is expected to increase by 30.66% to 52.43% year-on-year. Slightly negative announcements Henan Qingshuiyuan Technology: Suspected of illegal disclosure of information, investigated by the China Securities Regulatory Commission. Baolingbao Biology: The company's products involved in the case are subject to a 34.4% anti-dumping duty imposed by the European Union. Zhejiang Chengchang Technology: Expected to incur a loss of 19-36 million yuan in 2024, the stock may be subject to the risk warning of delisting. Overseas Markets Self-selected brother's reminder: Last Friday, the three major U.S. indexes collectively rose, large-cap technology stocks performed strongly, boosting the Nasdaq by 1.51%, and the strong quarterly reports of large banks also lifted the stock market; popular Chinese concept stocks rose collectively, with the Nasdaq China Golden Dragon Index up by 3.18%. This article is reprinted from "Tencent Self-selected Stocks", GMTEight editor: Liu Xuan.