A-share pre-trading report: Trillions of securities aircraft carrier is here! CICC plans to acquire Dongxing and Xinda

Pre-Market News 1. NVIDIA's Q3 financial report exceeded expectations! Stock price surged more than 6% after hours, Huang Renxun said cloud GPU is already sold out. Type: Company Sentiment Impact: Positive NVIDIA's third quarter revenue was $57.01 billion, with data center revenue at $51.2 billion. Fourth quarter revenue is expected to be around $65 billion, all exceeding market expectations. Following the financial report, NVIDIA's stock price further rose more than 6% after hours. In addition, Huang Renxun stated that sales of the company's latest generation Blackwell architecture chips far exceeded expectations, and cloud GPUs are sold out. 2. Another major restructuring in the securities industry in 2025! CICC plans to acquire Dongxing and Cinda. Type: Industry Sentiment Impact: Positive CICC, Dongxing, and Cinda released announcements regarding a major asset restructuring plan. This integration is based on the fact that the controlling shareholders of the three institutions are all from China's central Huijin. If the acquisition is successful, it is expected to reshape the competitive landscape of top securities firms, with total assets exceeding 1 trillion yuan and net assets close to 180 billion yuan, strengthening their positions at the top. 3. FOMC meeting minutes show serious divisions: many believe there will be no rate cut in December, some are concerned about a disorderly stock market decline. Type: Macro Sentiment Impact: Neutral There are serious divisions among FOMC decision-makers on whether to cut rates in December, with no overwhelming majority in support of a rate cut. However, there is almost unanimous agreement on stopping quantitative tightening actions to reduce the balance sheet. In terms of financial stability risks, some are concerned about an disorderly stock market decline. 4. China suspends imports of Japanese aquatic products? Foreign Ministry responds: Japanese aquatic products will not find a market in China. Type: Macro Sentiment Impact: Neutral It is understood that China has notified Japan of a suspension on the import of Japanese aquatic products. In response, the Foreign Ministry spokesperson stated that even if Japanese aquatic products are exported to China, they will not find a market. Japan should retract its erroneous statements first and take practical actions to maintain the political foundation of Sino-Japanese relations. Otherwise, China will have to take further measures. Investment Calendar 2025 Quantum Technology Industry Conference Investment Tips Investment Tips: When people realize that such speculation does not create wealth, but only transfers it, some will wake up. At this point, the tulip bubble should burst. John Gordon, "The Great Game" Institutional Views 1. Shenwan Hongyuan Group: Currently in the high area of "Bull Market 1.0," there is a rebound opportunity for technology growth before spring 2026. 2. Galaxy Securities: The long-term trend of the market remains positive, focusing on the subsectors of technology themes and catalyzing industrial trends. 3. Huatai: The breakthrough still requires accumulation, the crowding of the AI industry has fallen to a low level, and attention should be paid to low-base targets such as domestic computing power. Bullish/Bearish Prospects 1. Ministry of Industry and Information Technology: Guiding toy companies to use AI technology to create more new demands. Type: Policy Focus Huaan: AI toys continue to iterate towards functionalization and IP. The AI toy market is expected to surpass 10 billion yuan in 2023, and the market size is expected to exceed one trillion yuan by 2030, with a compound annual growth rate (CAGR) of over 50%. 2. Gemini 3 highly praised! Google's stock price rose nearly 7% at one point, reaching a new historical high. Type: Market Hot Topic Huaxin Securities: Google's core business is steadily growing, with AI driving continuous profit release. With the deep integration of AI functions in search advertising and Cloud customers, the company has the ability to continuously improve revenue efficiency and user experience. 3. Ministry of Finance has allocated 56.6 billion yuan in advance for the central fiscal urban affordable housing project subsidy budget. Type: Policy Focus China Post Securities: In October, among the 70 large and medium-sized cities, the month-on-month and year-on-year sales prices of commercial residential buildings in most cities have decreased. Currently, demand remains weak, and real estate companies are more cautious about land acquisition. Expectations for policy relaxation are heating up again. Announcement Express Positive Announcements 1. Guangdong Haid Group: First centralized auction to repurchase 7.9941 million shares. 2. Cosmos Group: Completed repurchase of 29.9955 million shares, accounting for 1.31% of the total shares. 3. Beijing Hanjian Heshan Pipeline: Won the bid for a 388 million yuan water supply project pipe procurement project. Negative Announcements 1. Beijing YanDong MicroElectronic: National Integrated Circuit Fund and Jingguorui plan to collectively reduce their shareholdings by no more than 2.5% of the company's shares. 2. Kingchem: Qulu Investment, Qingsong Investment, Blue Area Fund plan to collectively reduce their shareholdings by no more than 5.94%. 3. Zhejiang KangLongDa Special Protection Technology: Helin Fund plans to reduce their shareholdings by no more than 3%. Overseas Markets Self-selected Brother's Reminder: Market focuses on NVIDIA's financial report, U.S. stocks rebound after four consecutive days of decline, with all three major indices ending higher; most large-cap tech stocks rose, NVIDIA rose by 2.85%; Google closed up 3%, reaching a new historical high. This article is reprinted from "Tencent Self-selected Stocks", GMT8 Editor: Chen Xiaoyi.