Pre-market report for A-shares | Gold and silver surge to new highs! Gold breaks through $4300 for the first time, bank crisis in the US triggers sell-off.

Pre-market News 1. Gold and silver surge to new highs together! Gold breaks through $4300 for the first time, with silver futures rising more than 4% in early trading. Type: Market Sentiment Impact: Positive Gold hits new intraday highs for the fourth consecutive trading day, breaking through the $4300 mark for the first time. COMEX December silver futures once rose above $53.60 intraday, with a daily gain of over 4%. The U.S. government shutdown, trade tensions, and expectations of a rate cut by the Federal Reserve have been driving the recent surge in precious metals. 2. Several mid-sized U.S. banks exposed in loan fraud cases, with over $100 billion wiped off bank stocks' market value. Type: Industry Sentiment Impact: Negative Regional U.S. bank stocks suffered a heavy blow, with market risk aversion rising sharply. Several mid-sized banks were exposed in loan fraud cases, sparking concerns among investors over credit quality and asset transparency. The market value of 74 of the largest U.S. banks evaporated by over $100 billion in a single day, raising worries about potential risks in the regional banking system potentially triggering a chain reaction. 3. Ministry of Industry and Information Technology organizes "Millisecond Computing" special action in urban areas, focusing on computing power network development. Type: Industry Sentiment Impact: Positive Organizing a special "Millisecond Computing" action in urban areas, focusing on the development of computing power networks to build a high-capacity, low-latency, widely covered urban network that provides millisecond-level computing resources. CITIC SEC believes that domestic large-scale models are accelerating iteration, and recommends paying attention to investment opportunities in domestic computing power. 4. Putin-Trump phone call ends, Trump: may meet with Putin in the next two weeks Type: Macroeconomics Sentiment Impact: Positive Trump stated that he had a long phone call with Russian President Putin that day, discussing ending the Russia-Ukraine conflict and subsequent Russia-U.S. trade issues, making significant progress. Trump said he might meet separately with Putin and Zelensky, with the meeting with Putin possibly taking place in the next two weeks. Investment Calendar China International Digital Economy Expo held Investment Tips Investment Tip: Regardless of market ups and downs, maintain a balanced investment portfolio with a mix of stocks and bonds to achieve reasonable balance. [US] John Bogle "Common Fund Knowledge" Institutional Views 1. CMSC: Short-term adjustments are inevitable, but the market still has resilience, focus on defense, new consumption, and other low-track sectors. 2. Deloitte Securities: Shrinking volume reflects market risk aversion, short-term performance of value sectors represented by dividends may continue to dominate. 3. Orient: Short-term adjustments will not change the market's upward trend, maintaining the judgment that technology stocks remain the market's main line. Positive and Negative Outlook 1. Chinese scientists break through key solid-state battery challenges, helping double battery range Type: Institutional View Industrial: The commercialization process of solid-state batteries in 2025 is expected to accelerate. With core advantages such as high energy density, excellent safety, and wide temperature adaptability, solid-state batteries are expected to explore emerging markets such as low altitude, Siasun Robot & Automation, and data centers. 2. National Energy Administration announces 41 hydrogen energy pilot projects to promote hydrogen energy technology innovation and industrial layout Type: Institutional View China Great Wall: The dual drive of hydrogen energy policies and projects has made significant progress in various stages of the industry. It is recommended to focus on leading electrolysis companies with strong bidding capabilities in large projects such as CNNC and China Coal, as well as companies with hydrogen refueling station construction and operation capabilities and hydrogen transportation resources. 3. 2025 World VR Industry Conference held this weekend, with giants such as Huawei, Apple, and Alibaba invited Type: Market Discussion Jianghai Securities: In 2024, the global shipment of VR and MR headsets is expected to be around 9.6 million units, an 8.8% year-on-year increase. Various manufacturers, including NVIDIA, Foxconn, and Alibaba Cloud, have begun to layout AR/AI glasses, which may accelerate industry technological development in the future. Announcement Express Positive Announcements 1. Anhui Ronds Science & Technology Incorporated: Net profit for the first three quarters expected to increase by 871.3% to 908.09% year-on-year. 2. Fuyao Glass Industry Group: Net profit for the first three quarters increased by 28.93% year-on-year. 3. Rising Nonferrous Metals Share: The rare earth market has shown an overall increase, with net profit for the first three quarters expected to turn losses into profits year-on-year. Negative Announcements 1. KTK Group Co., Ltd.: Shareholder China Railways plans to reduce its company's shares by no more than 3%. 2. Shanghai Action Education Technology: Shareholders plan to collectively reduce their holdings of the company's stock by no more than 2.3 million shares. Overseas Markets Note from Self-Selected Brother: Regional bank credit "landmines" raise concerns, with all three major U.S. stock indices collectively declining, with major technology stocks generally falling, and Tesla dropping by over 1%; Most popular Chinese concept stocks saw declines, with the Nasdaq Golden Dragon Index falling by nearly 1%. This article is a reprint from Tencent Self-Selected Stocks, GMTEight editor: Chen Wenfang.