Pre-market briefing on A-shares | Analysis and study of the political bureau meeting to determine the direction for next year's economic work, with consumption possibly being a breakthrough direction.

Pre-market news 1. Political Bureau meeting analyzes and studies next year's economic work, consumption may become a breakthrough direction Type: Macro Sentiment Impact: Positive The Central Political Bureau of the Communist Party of China held a meeting on December 8 to analyze and study the economic work for 2026. The meeting emphasized the continuation of a more proactive fiscal policy and moderately loose monetary policy, and the integration of stock policies and incremental policies. It advocates the leading role of domestic demand and the development of a strong domestic market. Shenwan Hongyuan Group stated that the policy will continue to prioritize domestic demand, with consumption potentially becoming a breakthrough direction. 2. Google officially announces: the first AI glasses with Gemini will be launched in 2026 Type: Industry Sentiment Impact: Positive Google has announced that it is developing two different categories of artificial intelligence glasses to compete with Meta's products next year. Google's AI glasses will feature the Gemini large model and will be launched in 2026. Analysts believe that similar to the Android smartphone ecosystem, the new operating system will also be open to other tech companies for developing headsets or smart glasses. 3. Ministry of Foreign Affairs: Economic and trade cooperation should continue to be the "ballast" and "propeller" of Sino-US relations Type: Macro Sentiment Impact: Positive On December 8, Foreign Ministry spokesperson Guo Wenjun presided over a regular press conference. Regarding Sino-US economic and trade relations, Guo Wenjun stated that the essence of Sino-US economic and trade relations is mutual benefit and win-win, without anyone taking advantage of the other. Economic and trade cooperation should continue to be the "ballast" and "propeller" of Sino-US relations. He hopes that the US side will work with China to implement the important consensus of the two countries' leaders, constantly shorten the list of issues, expand the list of cooperation, and strive for more positive progress. 4. Muxi Stock's subscription rate for new shares is lower than Moore Thread, with 19,300 numbers drawn in the lottery Type: Company Sentiment Impact: Neutral On December 8, the results of the online lottery for Muxi Stock were announced, with a total of 19,300 numbers drawn, with each number eligible to subscribe to 500 shares of stock. The number of valid subscribers for this online issue was 5.152 million, resulting in a final subscription rate of 0.03348913%. Moore Thread, which surged 425.46% on its first day of trading, had a subscription rate of 0.03635054% before. Compared to Moore Thread, Muxi Stock has a lower subscription rate. Investment Calendar International Carbon Materials Conference and Industry Exhibition Investment Tips Companies with stable profit growth and a dull reputation may not be the talk of the town at a cocktail party, but in the long run, they are the best investment targets. "The Millionaire Next Door" by Stanley Institutional Perspectives 1. GF SEC: The effectiveness of fundamental pricing in December will gradually strengthen, with large caps outperforming small caps, and the dividend style taking advantage. 2. Open Source Securities: The pullback is temporarily over, positioning for the spring rally in advance, with a focus on technology and cyclical dual-drive allocation. 3. Orient: The mid-term trend of the market is still in a consolidation phase with TMT, upstream resources, and AI chains worthy of attention. Positive and Negative Outlooks 1. Global copper prices hit a new high, investment banks shout out that this round of market is not yet at its peak Type: Market Hot Discussion Orient: Supply shortages, tariff concerns, or ongoing copper price increases. The supply-demand contradictions between copper mining and smelting may see relief under the expectation of "anti-hollowing out", and smelting fees are expected to stabilize. We continue to be bullish on mid-term copper prices and smelting fees entering a period of simultaneous increase. 2. The 5000th production line of the "Lingxi X2" from Zhiyuan comes off the production line, kicking off a new journey of commercial scale use for Siasun Robot & Automation Type: Institutional Hot Review Guosen: The trend of humanoid Siasun Robot & Automation is clear and progressing rapidly, with policy efforts at home and abroad combined with industrial funds, the mass production of humanoid Siasun Robot & Automation is nearing, and the certainty of the development of the humanoid Siasun Robot & Automation industry is high. Focus on high-quality component companies with good fundamentals and positioning. 3. The world's largest power stock announces new collaborations with Google and Meta on the same day Type: Market Hot Discussion CITIC SEC: National policies further guide and consolidate the medium and long-term opportunities in ultra-high voltage, flexible direct current transmission and distribution, digital smart grids, and other areas. In the short to medium term, the supply and demand prosperity of the transmission and distribution equipment both domestic and abroad resonates, and structural demand continues to manifest, with opportunities for ultra-high voltage, smart grids, and other areas expected to see a reversal in prosperity. Announcement Express Tilted Positive Announcements: 1. Fujian Snowman Group: Metal bipolar fuel cell stack project completes acceptance, company has mastered relevant core designs 2. Yifan Pharmaceutical: Company's products included in the 2025 national medical insurance catalog 3. Lizhong Sitong Light Alloys Group: Signs a humanoid Siasun Robot & Automation machining component purchase agreement with Weijing Intelligence, with an estimated contract amount of approximately 75 million Tilted Negative Announcements: 1. Beijing Career International: Controlling shareholder plans to reduce holdings of company shares by no more than 3% 2. SINOTECH: Yin'anguling Ying plans to reduce company holdings by no more than 3% 3. Kunshan Dongwei Technology: Directors and core technical personnel plan to collectively reduce holdings by no more than 1.11% Overseas Market The three major stock indices collectively fell, with investors awaiting the Federal Reserve interest rate decision; most large-cap tech stocks fell, with Tesla down 3.4% and Morgan Stanley downgrading the company; popular Chinese stocks had mixed performances, with Baidu rising over 2%. This article is reprinted from "Tencent Self-selection Stock". GMTEight editor: Xu Wenqiang.