A-shares pre-market report | Concerning the lowering of reserve requirements and interest rates! The central bank speaks again, Alibaba may spin off its AI chip company Pingtouge for independent listing.

Pre-market news 1. Alibaba may spin off its AI chip subsidiary, Pingtouge, for independent listing, causing its stock price to surge by 5% and bringing attention to concept stocks. Type: Industry Sentiment impact: Positive According to reports, Alibaba is preparing to list its chip company Pingtouge separately to cater to investors' strong interest in the field of artificial intelligence. The stock price on the US stock market surged by 5%, but Alibaba has not responded to the news. Analysts believe that AI chips are an important strategic aspect in its competition with leading companies like OpenAI. Stocks in the A-share market with both Alibaba and chip concepts, such as Jiangsu NanFang Precision and Biwin Storage Technology, are expected to see net profit growth rates exceeding 100% in 2025. 2. PBOC: There is still room for reserve requirement ratio cuts and interest rate cuts this year, continuing to maintain stable operation of the financial market. Type: Macro Sentiment impact: Positive PBOC Governor Pan Gongsheng stated in an interview that in 2026, the People's Bank of China will continue to implement moderately loose monetary policies, flexibly and efficiently use various monetary policy tools such as reserve requirement ratio cuts and interest rate cuts, and maintain ample liquidity. There is still room for reserve requirement ratio cuts and interest rate cuts this year. The People's Bank will also focus on implementing and supervising interest rate policies to promote the low running of comprehensive social financing costs and support the stable development of the capital market. 3. Implementation of the latest financial interest subsidy policy for personal consumption loans announced collectively by six major banks. Type: Industry Sentiment impact: Positive Recently, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank Corporation, Bank of Communications, and Postal Savings Bank of China have all issued announcements to implement the financial interest subsidy policy for personal consumption loans and optimize related services. In terms of raising the subsidy standard, the requirement for a maximum subsidy amount of 500 yuan per single consumption will be cancelled, as well as the requirement for a cumulative consumption subsidy amount of 1000 yuan for each borrower in a single processing institution for loans below 50,000 yuan. 4. Musk unveils blueprint at Davos: Will publicly release the Optimus Siasun Robot & Automation next year, vigorously deploying autonomous driving. Type: Industry Sentiment impact: Positive Tesla CEO Musk revealed the latest developments in humanoid Siasun Robot & Automation, autonomous driving, space exploration, and artificial intelligence at the Davos World Economic Forum. He predicted that AI will surpass human intelligence by the end of this year, and Tesla's humanoid Siasun Robot & Automation Optimus will be available to the public as early as the end of next year. He also stated that Tesla's autonomous driving taxi service, Robotaxi, is expected to be deployed on a large scale in the United States this year. Investment Calendar Beijing Business Aerospace Exhibition and Conference will be held today. Investment Tips Investment Tip: Delaying the purchase of attractive stocks due to fear of the overall market performance may result in significant losses in the future. Translation of "How to Choose Growth Stocks" by Fischer Institutional Views 1. EB Securities: The market will remain stable before the Spring Festival, with the potential for a new round of upward momentum after the holiday, continue to focus on business aerospace. 2. Debon Securities: Trading volume remains at historical highs, the market will continue to fluctuate upwards, focusing on annual performance forecasts. 3. Orient: The consensus on the continuation of the bull market constitutes a bottom support, recent rebound of stocks with consecutive limit downs is conducive to active trading. Positive and Negative Factors Outlook 1. Business aerospace gathers positive news! SpaceX may launch the second generation "Starlink" in 2027, Blue Arrow Aerospace IPO makes progress. Type: Market focus Debon Securities: The United States, with companies like SpaceX, builds a commercial closed loop through extreme cost reduction and technological iteration; China relies on national constellation plans like "Qiansai constellation," driven by policy and market. The aerospace economy is accelerating to become a trillion-dollar market. 2. Ministry of Commerce and eight other departments: Promote high-quality development of the pharmaceutical retail industry, support mergers and reorganizations of retail pharmacies. Type: Policy focus Zhong You Securities: The retail pharmacy industry is accelerating consolidation quarterly in 2025, and customer flow is expected to concentrate towards leading companies. Leading pharmacies, with their professional service capabilities and strong supply chain systems, will thrive in industry consolidation. 3. Yushu Technology clarifies and confirms high shipment volume: Actual shipments of humanoid Siasun Robot & Automation exceed 5,500 units. Type: Institutional review Open Source Securities: In 2025, the humanoid Siasun Robot & Automation industry completed the transition from "0-1" to "1-10." Looking ahead to 2026, the industry will break through the key inflection point from "1-10" to "10-100" scale, with the core switch focusing on mass production and commercial acceleration. Announcements Positive announcements 1. GigaDevice Semiconductor Inc.: Expects a net profit of about 1.61 billion yuan in 2025, a year-on-year increase of about 46%. 2. Founder Technology Group: Expects a net profit of 430 million yuan to 510 million yuan in 2025, a year-on-year increase of 67.06% to 98.14%. 3. Maxone Semiconductor: Expects a net profit of 368 million yuan to 399 million yuan in 2025, a year-on-year increase of 57.87% to 71.17%. Negative announcements 1. Piotech Inc.: National large fund reduced its holdings by 2.98 million shares from January 13 to 22. 2. Advanced Micro-Fabrication Equipment Inc. China: The largest shareholder, Shanghai Venture Capital, reduced its stake by 1% from January 6 to 21. 3. Infotmic Co.,Ltd: Expects a net loss of 69 million yuan to 97 million yuan in 2025. Overseas Markets Selected Brother Reminder: Geopolitical disturbances subside, strong data boosts risk appetite, all three major US stock indices closed higher, the technology giants all rose, with Meta rising by 5.7%; Chinese concept stock index rose by over 1.5%, Alibaba rose by over 5%. This article is reproduced from Tencent's self-selected stocks, GMTEight Editor: Chen Wenfang.