Brokerage Morning Meeting Highlights | Focus on the layout opportunities of next year's policy dividends and economic direction.

Last Friday, the market bottomed out and rebounded, with all three major indexes closing in the red. The trading volume in the Shanghai and Shenzhen markets reached 2.09 trillion, an increase of 235.1 billion from the previous trading day. In terms of sectors, controllable nuclear fusion, precious metals, power grid equipment, commercial aerospace, and other sectors led the gains, while retail, real estate, Hainan, and other sectors led the losses. As of last Friday's close, the Shanghai Composite Index rose by 0.41%, the Shenzhen Component Index rose by 0.84%, and the Growth Enterprise Index rose by 0.97%. At today's securities morning meeting, China Securities Co.,Ltd. stated that it recommends continued focus on the quantum technology industry chain. Huatai believes that the value of IP economy will further release and is optimistic about the development of AI + film/TV industry. Galaxy Securities pointed out that they focus on next year's policy dividends and the layout opportunities in economic direction. China Securities Co.,Ltd.: Recommends continued focus on the quantum technology industry chain China Securities Co.,Ltd. stated, quantum technology as a future industry that the country is strategically positioned in, with recent catalysis ongoing, such as the acceptance of the IPO application of Guanzi Quantum Technology (Hefei) Co., Ltd. on the Science and Technology Innovation Board, and the official release of the national standard "Homo-Cooled Cryocoolers." It recommends continued focus on the quantum technology industry chain, especially in the areas of quantum computing, cryocoolers, and low-temperature coaxial cables. Huatai: IP economy value will be further released, optimistic about AI + film/TV industry development Huatai stated that the value of IP economy would be further released and is optimistic about the development of AI + film/TV industry. Huatai believes that the closed-loop of Sora+Disney is expected to significantly increase the long tail content production and dissemination of IP, driving the increase in derivative income and licensing value. Since the beginning of this year, multimodal AI large models have been continuously iterated, with models such as Sora2, GoogleVeo3, ByteOminiHuman-1.5, and Keling Turbo2.5 continuously improving the video generation capabilities, deeply empowering the entire process of video production. From the perspective of industrial applications, native AI content is gradually transitioning to commercialization and monetization phase, such as AI comics, short dramas, etc., and subsequently, AI + films also have the potential to continue to break through. Galaxy Securities: Focus on the layout opportunities of next year's policy dividends and economic direction Galaxy Securities pointed out that in the short term, as the year-end approaches, the market's characteristic of a structural shake may continue, with the market rotation speed being relatively fast. They focus on the layout opportunities of next year's policy dividends and economic direction. Configuration opportunities: (1) Main Line 1: The accelerated evolution of the global unprecedented century-old changes, the underlying logic of the domestic economy turning towards new quality productivity, artificial intelligence, embodied intelligence, new energy, controllable nuclear fusion, quantum technology, and aerospace, the key areas of the "Fifteenth Five-Year Plan" are worth paying attention to. (2) Main Line 2: Mild promotion of anti-internal competition policies, optimization of supply-demand structure combined with the expectation of price recovery, manufacturing, and resource sectors with a clear profit repair path. (3) Ancillary Line 1: Under the guidance of expanding domestic demand policies, the consumption sector has an opportunity for layout. (4) Ancillary Line 2: The trend of going abroad will further open up the profit space of enterprises. This article is reprinted from "Cailianshe", GMTEight Editor: Xiao Yi Chen.