A-share pre-market report | Central Economic Work Conference sets major tone | OpenAI releases new model

Pre-market News 1. Central Economic Work Conference sets the tone! Involving consumption, real estate, etc., experts interpret authoritatively Type: Macro Emotional impact: Positive The Central Economic Work Conference was held in Beijing on December 10th and 11th. The conference emphasized the need to continue implementing a more proactive fiscal policy. It mentioned several key points such as adhering to domestic demand-led construction of a strong domestic market and focusing on stabilizing the real estate market. Experts have indicated that the next year's fiscal support for consumer spending is expected to increase, and by implementing a proactive fiscal policy, timely reserve requirement ratio and interest rate cuts, and stabilizing the real estate market, among other measures, it will push supply and demand to achieve a dynamic balance at a higher level. 2. OpenAI officially releases GPT-5.2, dubbed the "strongest professional knowledge working large model" Type: Industry Emotional impact: Positive OpenAI officially released the GPT-5.2 series models on Thursday, surpassing previous generations in reasoning, professional knowledge work, financial modeling, PPT/Excel output capabilities, and leading Google's Gemini 3 in multiple reasoning benchmark tests. Ultraman hints at more new products coming soon. Analysts suggest that with the launch of GPT-5.2, OpenAI hopes to attract more corporate clients, increase revenue, and accelerate its presence in the enterprise AI market. 3. Increase policy support! Ministry of Commerce to introduce Opinions to accelerate innovation and development of the retail industry Type: Industry Emotional impact: Positive At a Ministry of Commerce press conference on Thursday, spokesperson He Yadong announced that the Ministry of Commerce will plan for the innovation transformation and high-quality development of the retail industry during the "14th Five-Year Plan" period and increase policy support. In particular, the Ministry of Commerce will introduce Opinions to accelerate the innovation and development of the retail industry, improve the quality of goods and services, coordinate the optimization of stock and incremental... Investment Calendar Adjustment of multiple index samples such as the SSE 50 takes effect Investment Tips Investment Tips: Try not to make stupid mistakes rather than trying to appear very smart. Investors with long-term advantages achieve unimaginable returns thanks to this. Clark's "Charlie Munger's Investment Ideas" Institutional Views CMSThe Central Economic Work Conference continues to make proactive statements, and historically, the market style often has an advantage in the 7 days after the conference. Guotai HaitongThe market is expected to enter a period of resonance on policies, liquidity, and fundamentals, with optimism for technology growth and large finance. OrientIn the short term, market adjustment on the daily level is ongoing, and Shanghai Index is expected to test support near 3850 points. Positive and Negative Prospects 1. SK Hynix collaborates with NVIDIA to develop next-generation storage product AI NAND Type: Market Hot Topic Tianfeng: The AI storage revolution is here, "storage instead of calculation" spawns core opportunities, significantly saving calculation power to accelerate AI inference, driving SSD demand growth faster than traditional curves. It is recommended to focus on storage module manufacturers, storage chips and other directions. 2. Controlled nuclear fusion receives intensive catalysis, multiple projects including Jiangxi Ignition 1 start bidding Type: Market Hot Topic EB Securities: With steady progress in multiple fusion industry projects, new routes and projects continuously released, the industry enters a period of intensive bidding, and industrial capital expenditure is expected to continue to expand. It is suggested to pay attention to the BEST project, "Ignition 1" and other follow-up developments. 3. Tightening supply combined with increasing demand leads to price increases in tungsten series products Type: Institutional Hot Review CICC: Considering that domestic supply remains relatively tight due to factors such as declining grades and stricter regulations, except for Kazakhstan, there is great uncertainty in incremental supply overseas and slow volume expansion. For the next 3-5 years, global tungsten supply will remain relatively tight, driving continued upward pressure on tungsten prices. Announcement Express Slightly positive announcements 1. Shaanxi Construction Engineering Group Co., Ltd.: Wins the bid for 5 major projects totaling over 39.12 billion yuan 2. Beijing Balance Medical Technology Co., Ltd.: Majority-owned subsidiary's Collagen Implant product approved for registration 3. Wiscom System: Company and its subsidiaries collectively win bids for projects worth 76.172 million yuan Slightly negative announcements 1. Jiangxi Sunshine Dairy: Shareholder Nanchang Zhihe plans to reduce its stake by no more than 3% 2. Jiangsu Luokai Mechanical & Electrical: Shareholders plan to collectively reduce their holdings in the company by no more than 3% 3. Shenzhen Quanxinhao: Receives administrative supervision measures decision from Shenzhen Securities Regulatory Bureau Overseas Markets Self-pick Brother Tip: US stocks closed with mixed gains and losses, with the S&P 500 and Dow hitting new closing highs together; Oracle's stock price plummeted by 10.8%, as the company's quarterly performance guidance fell short of analysts' expectations; popular Chinese concept stocks rose and fell with NIO up nearly 2%. This article is reprinted from "Tencent Stock Selection", GMTEight Editor: Feng Qiuyi.