Highlights of Brokerage Morning Meetings | It is expected that the core periodic payment and value growth of listed insurance companies will maintain a double-digit growth by 2026.

Last Friday, the Shanghai Composite Index oscillated and rebounded, with a trading volume of 1.73 trillion yuan in the two cities of Shanghai and Shenzhen, an increase of 70.4 billion yuan from the previous trading day. In terms of sectors, the sectors of Hainan, dairy, and retail led the gains, while the sectors of precious metals and semiconductors led the declines. As of the close of last Friday, the Shanghai Composite Index rose by 0.36%, the Shenzhen Component Index rose by 0.66%, and the ChiNext Index rose by 0.49%. At today's securities morning meeting, Zhongtai stated that it is expected that the core period premium and value growth of listed insurers in 2026 will maintain double-digit growth; China Securities Co., Ltd. suggested that the trend of the optical fiber and cable industry is improving, and leading companies may see profit and valuation increases; Sinolink believes that the year-end sprint effect will drive the recovery of the new housing market. Zhongtai: It is expected that the core period premium and value growth of listed insurers in 2026 will maintain double-digit growth Zhongtai stated that the performance of the life insurance industry in the opening quarter of 2026 is worth looking forward to, benefiting from the resident asset reallocation resulting from deposit relocation, the growth rate of liabilities is expected to continue, and the potential of the equity market slow bull is expected to strengthen the sales logic of dividend insurance. The bank-insurance channel benefits from the effective increase in the number of cooperative outlets, the capacity enhancement of CKH HOLDINGS contributes to the continuation of the momentum of new single business growth; the personal insurance channel benefits from the core high-quality manpower support under the "dumbbell-shaped" team structure. It is expected that the core period premium and value growth of listed insurers in 2026 will maintain double-digit growth. China Securities Co., Ltd.: The trend of the optical fiber and cable industry is improving, and the profit and valuation of leading companies may increase simultaneously China Securities Co., Ltd. stated that since the third quarter of this year, the price of optical fibers in the Chinese market has continued to rise, reflecting the improving demand and overall tight supply. Strong overseas demand and strong export performance reflect the strong demand in the global optical fiber and cable market. Concerns about the market structure, China Securities Co., Ltd. believes that after the imbalance of supply and demand in 2019 and the price collapse, this round of expansion by manufacturers will be relatively rational, and the production expansion cycle of items such as optical bars is relatively long. The resurgence of demand coupled with price increases in this round may lead to both profit and valuation increases for leading companies in the industry. Sinolink: Year-end sprint effect drives the recovery of the new housing market Sinolink stated that the year-end momentum in the new housing market has increased, with the entry of high-quality projects in key cities leading to an overall recovery in the new housing market. This week, the sales area of new houses has significantly increased, with 4.34 million square meters of new houses sold in 47 cities, reaching a new high in weekly sales volume since October. The transaction volume of second-hand houses has marginally increased, continuing the trend since November. This article is reproduced from "Cailianshe", GMTEight editor: Liu Jiayin.