Pre-market report on A-shares: Xiaomi (01810) "new luxury car" has orders exceeding 10,000 units! OpenAI releases GPT-4.5.

Pre-market News 1. Impacting the high-end market! Xiaomi SU7 Ultra priced at 529,900 yuan, with over 10,000 units sold in 2 hours Type: Company Sentiment: Positive On the evening of February 27, Xiaomi Group Chairman Lei Jun announced that the new Xiaomi SU7 Ultra car is priced at 529,900 yuan, positioned as a "new luxury car", significantly lower than the previously disclosed pre-sale price of 814,900 yuan in 2024. Xiaomi SU7 Ultra sold over 10,000 units in 2 hours. 2. OpenAI releases GPT4.5 research preview version with higher emotional intelligence and fewer hallucinations Type: Company Sentiment: Positive In the early hours of Friday Beijing time, the US startup company OpenAI held a live event to release the latest large model GPT-4.5. According to early tests, GPT-4.5 is particularly useful in applications that require higher emotional intelligence and creativity, such as writing assistance, communication, learning, tutoring, and brainstorming. 3. National Energy Administration: Intense competition in the photovoltaic industry is still not fundamentally resolved, cooperating with relevant departments to study policies Type: Macro Sentiment: Positive Xing Yiteng, Director of the New Energy Division of the National Energy Administration's New Energy and Renewable Energy Department, stated that the intense competition in the photovoltaic manufacturing industry has not been fundamentally resolved, and the National Energy Administration is cooperating with the National Development and Reform Commission, the Ministry of Industry and Information Technology, and other departments to study and improve policy measures. 4. Ministry of Commerce: US imposes 10% tariffs on Chinese products imported to the US, China firmly opposes Type: Macro Sentiment: Neutral On February 27, Minister of Commerce Wang Wentao wrote a letter to the new US Trade Representative, Gireel. Wang Wentao emphasized that the US recently imposed a 10% tariff on Chinese products imported to the US on the grounds of issues such as fentanyl. China firmly opposes this and has taken corresponding countermeasures. Investment Calendar MSCI index adjustment takes effect at the close today Investment Tips Investment Tip: Investment success comes from holding high-quality companies for the long term. Frequent trading not only increases costs but may also lead to missing out on long-term returns. Book Recommendation [US] Philip Fisher's "How to Select Growth Stocks" Editorial Opinion Editorial Opinion: Yesterday, the three major indices explored the bottom and rebounded, with funds focusing on the large consumer sector, while there were divergences in high-tech themes at high levels. EB SECURITIES recommends focusing on the two main themes of technology growth and consumption. Institutional Views 1. Cinda: Currently in the early stage of the second wave of the bull market, will face tests in the future, but recommends adding positions on dips. 2. EB SECURITIES: With policy efforts, medium to long-term funds may accelerate inflows, focus on technology growth and consumption. 3. Huachuang Securities: The recent adjustment in the AI theme is just a re-balancing of active funds. Looking ahead, small-cap growth stocks still have high cost-effectiveness. Positive and Negative Outlook 1. Two departments: Support low-carbon transformation of energy systems and increase financial support for charging infrastructure Type: Market Discussion Shanghai Securities: Policy push will have a positive impact on the charging pile market, with the rapid growth of new energy vehicle sales, especially the development of high-voltage fast charging technology, the demand for charging piles as key infrastructure is expected to significantly increase. 2. The concept of integrated computing power continues to ferment, institutions optimistic about DeepSeek's rapid deployment driving demand growth Type: Market Discussion Zheshang: The expected demand for DeepSeek rapid deployment is expected to drive the growth of integrated machines. The demand for integrated machines is expected to reach 150,000 units, 390,000 units, and 720,000 units in 2025, 2026, and 2027, respectively, with corresponding market space of 123.6 billion yuan, 293.7 billion yuan, and 520.8 billion yuan. 3. Baidu and Contemporary Amperex Technology sign a strategic cooperation agreement, focusing on autonomous driving and digital intelligence fields Type: Market Discussion Dongguan Securities: With the continuous breakthroughs in artificial intelligence, sensor technology, and the Internet of vehicles, the performance and safety of automatic driving systems will be greatly improved, and costs are expected to decrease, accelerating the commercialization process. Announcement Express Slightly Positive Announcements 1. Cambricon: Net loss of 443 million yuan in 2024, with a quarterly profit of 281 million yuan in the fourth quarter, achieving quarterly profit for the first time 2. Allwinner Technology: Net profit increased by 625.82% year-on-year in 2024 3. PNC Process Systems: Intends to purchase 83.78% of Weiton Crystal Phosphorus shares, stock resumes trading Slightly Negative Announcements 1. Hang Zhou Iron & Steel: Stock price severely deviates from fundamentals, high speculation risk 2. Trina Solar Co., Ltd.: Net loss of 3.455 billion yuan in 2024 Overseas Markets Self-selected brother tips: Trump's tariff stick hits the US stock market hard, with the Nasdaq Composite Index falling 2.78% overnight, and Nvidia dropping over 8%; Amazon releases Quantum Computing Chip Ocelot; Musk "freely" distributes Starlink, aiming to seize large government contracts. This article is a reprint from Tencent Zixuan Stock, GMTEight Editor: Liu Xuan.