A-share pre-market report | DeepSeek releases two new models to enhance Agent capabilities in the new version.

Pre-market headlines 1. DeepSeek releases V3.2 series models, strengthens Agent capabilities, and reasoning capabilities match GPT-5 Type: Industry Sentiment: Positive DeepSeek releases two models from the V3.2 series and open sources them. V3.2 focuses on daily applications, with reasoning capabilities matching GPT-5 levels, and integrates thinking mode and tool calling for the first time. V3.2-Speciale focuses on extreme reasoning and won gold medals in the IMO, CMO, ICPC, and IOI four international competitions. 2. Silver hits new highs in late night trading! Year-to-date gains have surpassed 100%, gold also hits a nearly 6-week high Type: Market Sentiment: Positive Spot silver once again hits a historic high of $58.8 per ounce, doubling its gains this year. The surge in silver prices is driven by factors including supply shortages, speculative short squeezing, and macro events. At the same time, spot gold touched $4264 per ounce, reaching a six-week high after hitting a historic high in mid-October. 3. November new energy vehicle sales figures released! LeapMotor claims victory with 70,000 vehicles, Xiaomi with over 40,000 vehicles, NIO increases by 76.3% Type: Industry Sentiment: Positive Several new energy vehicle brands have announced their latest performance in November. LeapMotor delivered 70,327 vehicles in the month, a year-on-year growth of over 75%; followed by Xiaomi Cars, delivering over 40,000 vehicles in November; Xpeng Motors delivered 36,728 new cars, an increase of 19% year-on-year; NIO delivered 36,275 new cars in November, a 76.3% increase year-on-year. 4. Minister of Finance Lavoan of the Ministry of Finance published an article in People's Daily: Increase residents' income through multiple channels and boost consumption vigorously Type: Macro Sentiment: Positive Minister of Finance Lavoan published an article in People's Daily, pointing out the need to accurately grasp the situation and tasks facing the Ministry of Finance during the "14th Five-Year Plan" period and to effectively implement proactive fiscal policies. It calls for expanding domestic demand in all respects, supporting the construction of a strong domestic market, increasing residents' income through multiple channels, optimizing income distribution structure, and vigorously boosting consumption.