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Market Analysis - The Shanghai Composite Index closed at 3402.53, down 0.05%, while the Shenzhen Component Index fell 0.55% to 10731.66, and the ChiNext Index dropped 0.81% to 2248.63 [2][3] - The total trading volume of the Shanghai and Shenzhen markets was 1.63 trillion yuan, a decrease of 154.3 billion yuan compared to the previous trading day [3] - Overseas markets showed mixed performance, with the Dow Jones down 0.54%, Nasdaq down 0.62%, and S&P 500 down 0.61%, while the Hang Seng Index rose 2.76% [2] - In the futures market, NYMEX crude oil fell 0.32% to $68.15, COMEX gold dropped 0.12% to $2682.7, and COMEX silver decreased 0.33% to $32.505 [2] Sector Performance - The robotics sector remained strong, with over 20 stocks, including Kelisens, hitting the daily limit [3] - The AI application sector showed localized activity, while the CRO sector was boosted by positive news, with WuXi AppTec rising over 6% [3] - The real estate sector experienced adjustments, with declines in the real estate, Hainan, photovoltaic equipment, and retail sectors [4] Financing Data - As of December 6, the financing balance on the Shanghai Stock Exchange was 951.231 billion yuan, a decrease of 905 million yuan from the previous trading day, while the Shenzhen Stock Exchange's financing balance was 897.98 billion yuan, down 604 million yuan [7] - The total financing balance of the two markets was 1.849211 trillion yuan, a decrease of 1.509 billion yuan from the previous trading day [7] Investment Advisor Insights - The market experienced increased intraday volatility, with the Shanghai Composite Index showing a cross-shaped candlestick pattern during consolidation [8] - The overall market remains above multiple moving averages, with active individual stock sentiment and a focus on the rotation of hot themes [8] AI Education Sector - The AI education sector is gaining momentum, with the Ministry of Education encouraging the integration of AI education into after-school services and study tours [9] - ByteDance's Doubao app, with a monthly active user base of 70 million, is leading the AI learning trend, offering features like English speaking practice and subject-specific Q&A [9] - The AI education industry is entering a phase of industrial expansion, with strong product capabilities and efficient promotion being key to success [10] Robotics and AI - Huawei's subsidiary, Dongguan Jimo Machine, saw its registered capital increase from 870 million yuan to 3.89 billion yuan, a 347% increase, signaling Huawei's strong push into the robotics sector [12] - The robotics sector saw multiple stocks hitting the daily limit, with Aisida rising 10% over 17 days and 10 boards, and Taier Co rising 9.99% over 8 days and 8 boards [13] AI Applications - AI application stocks in the US continued to rise, with AppLovin's market cap exceeding $130 billion, up 8.5 times year-to-date [15] - In China, AI-related stocks like Tianyu Digital and Huayang Lianzhong saw significant gains, with Tianyu Digital rising 10.03% over 6 days and 4 boards [15] PEEK Materials - The demand for PEEK materials is expected to reach 16.7 billion yuan by 2027, driven by the production of humanoid robots [23] - Stocks like Zhongxin Fluoride Materials and Zhongyan Co hit the daily limit, with Zhongyan Co rising 20% [24] Automotive and Smart Driving - The automotive sector is expected to see a year-end surge due to the upcoming end of the scrappage and trade-in policies [28] - Smart driving stocks like Risen Group and Suo Ling Co hit the daily limit, with Risen Group rising 10% over 9 days and 8 boards [20][22] Consumer Goods - The home appliance sector saw strong performance, with Whirlpool rising 10.03% over 2 days and 2 boards, and Shuaifeng Electric rising 9.99% [34] - The furniture and decoration sector also performed well, with Faslong and Piano hitting the daily limit [36] CRO/CMO Sector - The CRO sector was boosted by the exclusion of the biosecurity bill from the US National Defense Authorization Act, with stocks like Dezhang Health and Rui Zhi Pharmaceutical hitting the daily limit [37][40] Future Events - Key upcoming events include the 2024 Mobile Robot Industry Development Annual Meeting on December 11, the 2024 China Artificial Intelligence Conference on December 13, and the 2024 China (Yangtze River Delta) Low-altitude Economy Application Expo from December 20 to 22 [43]

Market Analysis - The market opened high but fell sharply, with the ChiNext Index dropping over 4% [4] - The total trading volume in the Shanghai and Shenzhen markets reached 2.2 trillion yuan, an increase of 565.7 billion yuan from the previous trading day [4] - The robot concept stocks remained strong, with over 30 stocks like Keli Sensing hitting the limit-up [6] - The consumer sector showed strength, while the AI application sector surged and then retreated [6] - The Shanghai Composite Index rose by 0.59%, the Shenzhen Component Index by 0.75%, and the ChiNext Index by 0.69% [8] Financing Data - As of December 9, the financing balance on the Shanghai Stock Exchange was 951.454 billion yuan, an increase of 223 million yuan from the previous trading day [10] - The financing balance on the Shenzhen Stock Exchange was 901.246 billion yuan, an increase of 3.266 billion yuan from the previous trading day [10] - The total financing balance of the two markets was 1.8527 trillion yuan, an increase of 3.489 billion yuan from the previous trading day [10] Investment Advisor Opinion - The index opened high and fell quickly, showing a high-opening and low-closing trend, with a significant increase in trading volume [11] - The Shanghai Index is close to the previous adjustment high, and funds are still focused on previous hot spots [11] - The market sentiment is cautious, and there are still structural opportunities in the current market [11] Commercial Aerospace - SpaceX is the leading company in the commercial aerospace field, and the new policy environment may benefit its Starlink plan, mobile phone direct connection, and Mars exploration plans [12] - China's domestic commercial aerospace market is in a rapid development stage, with the construction of two large low-orbit constellations, "GW Constellation" and "Qianfan Constellation" (G60 Constellation), and the application for another 10,000-satellite constellation "Honghu-3" [12] - The construction of the three major low-orbit satellite internet constellations indicates that the acceleration period of domestic commercial aerospace is coming, which is of great significance for enhancing national strategic competitiveness [12] Industrial Robot Exhibition - The 2024 World Industrial Robot Exhibition will be held from December 11 to 13 at the Foshan Tanzhou International Convention and Exhibition Center [14] - The exhibition aims to promote the integration of industrial automation, intelligent manufacturing, and artificial intelligence with robot technology, providing a platform for the global manufacturing industry to showcase cutting-edge technologies and innovative solutions [14] - Wanlian Securities stated that the Chinese robot industry is still in a period of historical development opportunities, and the share of domestic brands is expected to further increase [14] Central Enterprises' "Belt and Road" Investment - The State-owned Assets Supervision and Administration Commission (SASAC) held an expanded meeting on December 9, emphasizing the need to further strengthen planning guidance and adhere to the principles of extensive consultation, joint contribution, shared benefits, openness, greenness, and high standards for sustainable development [14] - The meeting proposed to coordinate and promote the continuous optimization of the investment and cooperation layout of central enterprises in the "Belt and Road" initiative, explore new models of infrastructure, energy resources, and industrial park linkage development, and continuously expand new spaces for win-win development at a higher level, with greater resilience and sustainability [14] Limit-Up Stocks Review - Aisida (002403) hit the limit-up for the 11th time in 18 days, with a 10.02% increase, driven by the robot and home appliance sectors [15] - Taier Co Ltd (002347) hit the limit-up for the 9th time in 9 days, with a 9.99% increase, driven by the robot and commercial aerospace sectors [15] - Jianshe Industry (002265) hit the limit-up for the 6th time in 7 days, with a 10.01% increase, driven by the military robot sector [15] Food and Beverage Sector - Yiming Food (605179) hit the limit-up for the 11th time in 11 days, with a 9.99% increase, driven by the dairy sector [20] - Shuangta Food (002481) hit the limit-up for the 2nd time in 2 days, with a 9.98% increase, driven by the artificial meat and synthetic biology sectors [20] Chip Industry Chain - According to SEMI data, the global semiconductor equipment shipment amount in the third quarter of 2024 reached 30.38 billion US dollars, a year-on-year increase of 19% and a month-on-month increase of 13% [24] - Shenglong Precision (002426) hit the limit-up for the 2nd time in 3 days, with a 9.88% increase, driven by the chip and consumer electronics sectors [25] - Shengjing Micro (603375) hit the limit-up for the 1st time, with a 10.01% increase, driven by the civil explosion and chip sectors [25] PEEK Materials - According to Guojin Securities' research report, producing 10 million humanoid robots will generate 35 billion yuan of PEEK demand, and the domestic PEEK material demand will reach more than 16.7 billion yuan by 2027 [27] - Zhongxin Fluorine Materials (002915) hit the limit-up for the 2nd time in 2 days, with a 9.99% increase, driven by the fluorine chemical and PEEK sectors [28] - Zhongyan Co Ltd (688716) hit the limit-up for the 2nd time in 2 days, with a 20.00% increase, driven by the PEEK material sector [28] Commercial Retail - On December 9, the Central Political Bureau held a meeting, proposing to vigorously promote consumption, improve investment efficiency, and comprehensively expand domestic demand [29] - Zhongbai Group (000759) hit the limit-up for the 4th time in 7 days, with a 9.96% increase, driven by the retail sector [29] - Wufeng Co Ltd (601010) hit the limit-up for the 3rd time in 4 days, with a 9.86% increase, driven by the retail sector [29] Quantum Communication - Recently, China Telecom Quantum Group officially released the superconducting quantum computer "Tianyan-504" with the largest number of single-bit qubits in China [30] - Hongda New Materials (002211) hit the limit-up for the 3rd time in 5 days, with a 10.02% increase, driven by the organic silicon and quantum technology sectors [30] - Xingguang Co Ltd (002076) hit the limit-up for the 2nd time in 2 days, with a 10.13% increase, driven by the lithium battery and quantum technology sectors [30] Artificial Intelligence - OpenAI announced the official opening of the artificial intelligence (AI) video generation model Sora to users [30] - Tianyu Digital (002354) hit the limit-up for the 5th time in 7 days, with a 10.00% increase, driven by the AI and robot sectors [30] - Jincai Internet (002530) hit the limit-up for the 4th time in 4 days, with a 10.03% increase, driven by the financial technology and AI sectors [30] Future Events Reminder - The 2024 China Artificial Intelligence Conference and Beijing Artificial Intelligence Industry Summit will be held on December 13 [31] - The 2024 China Communication Industry Conference and the 19th China Communication Technology Annual Conference will be held on December 18 [31] - The 2024 China (Yangtze River Delta) Low-altitude Economy Application Expo will be held from December 20 to 22 [31] - The 2nd International Conference on Artificial Intelligence Generated Content and Large Model Application Innovation Conference will be held on December 21 [31]

Market Analysis - The Euro to USD exchange rate is 1.0504, up by 0.08%, while the USD to JPY exchange rate is 152.2393, down by 0.15% [2] - The Shanghai Composite Index closed at 3432.49, up by 0.29%, and the Shenzhen Component Index closed at 10848.42, up by 0.33% [2] - The NASDAQ index closed at 20034.89, up by 1.77%, while the Dow Jones Industrial Average closed at 44148.56, down by 0.22% [2] - NYMEX crude oil closed at 70.36, up by 0.1%, and COMEX gold closed at 2755.2, down by 0.05% [3] - The total trading volume of the Shanghai and Shenzhen markets was 1.78 trillion, a decrease of 423.8 billion compared to the previous trading day [3] Sector Performance - Over 3800 stocks rose, with more than 150 stocks hitting the daily limit or rising over 10% [4] - The retail, AI glasses, Shanghai state-owned enterprise reform, and real estate sectors led the gains [5] - The insurance, Sora concept, banking, and battery sectors were among the top decliners [5] Financing Data - As of December 10, the financing balance on the Shanghai Stock Exchange was 956.648 billion yuan, an increase of 5.195 billion yuan from the previous trading day [7] - The financing balance on the Shenzhen Stock Exchange was 909.757 billion yuan, an increase of 8.511 billion yuan from the previous trading day [7] - The total financing balance of the two markets was 1866.405 billion yuan, an increase of 13.706 billion yuan from the previous trading day [7] Investment Advisor Insights - The market maintained a narrow range of fluctuations, with trading volume significantly shrinking [8] - The Shanghai Composite Index is in the process of recovery, remaining above multiple moving averages, with funds actively rotating around consumption, AI, and robotics sectors [8] Concept Highlights - Computing power leasing has become a significant driver of industrial upgrading and social progress, with a potential market size of 260 billion yuan by 2026, growing at a rate of over 20% annually [9][10] - Companies like NVIDIA and Oracle have launched comprehensive AI service tools and solutions based on computing power leasing, providing guidance for the development of related industries [10] Key News - Huawei's Ascend AI Framework Summit is set to take place on December 14, focusing on AI technology trends and industrial opportunities [12] - The Shanghai Municipal Government has issued an action plan to support listed companies in mergers and acquisitions, focusing on key industries such as integrated circuits, biomedicine, and artificial intelligence [12] Stock Performance - Multiple stocks hit the daily limit, with significant gains in sectors such as technology, retail, and state-owned enterprise reform [13][15]

偶倒 0680 （本刊物为中风险等级产品，敬请投资者参阅正文后的免责声明） 2024 年第 224 期，总第 1783 期（电子版） 2024 年 12 月 9 日 星期一 | --- | --- | --- | |----------------|--------------|-----------| | | | | | | 沪深指数 | | | | 收盘(点) | 涨跌幅(%) | | 上证指数 | 3404.08 | 1.05 | | 深证成指 | 10791.34 | 1.47 | | 中小 100 | 6567.19 | 1.43 | | 创业板指 | 2267.06 | 2.05 | | 沪深 300 | 3973.14 | 1.31 | | | 海外市场指数 | | | | 收盘(点) | 涨跌幅(%) | | 道琼斯 | 44642.52 | -0.28 | | 纳斯达克 | 19859.77 | 0.81 | | 标普 500 | 6090.27 | 0.25 | | 英国富时 100 | 8308.61 | -0.49 | | 日经 225 | 39035.66 | -0.14 | | 恒 ...

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策略研究报告 证券研究报告 策略报告 报告日期：2024 年 12 月 10 日 2025 年政策力度进一步提升 ——A 股投资策略点评报告 华龙证券研究所 A 股市场走势(2023/11/10-2024/12/10) 分析师 事件： 12 月 9 日政治局会议召开，事项包括分析研究 2025 年经济工作等。 观点： 一、2025 年工作定调与 2024 年相比新变化。①改革开放表述由"全 面深化改革开放"变化为"进一步全面深化改革，扩大高水平对外开 放"，②发展与安全方面表述由"统筹高质量发展和高水平安全"变 化为"更好统筹发展和安全"，③宏观政策方面表述由"加大宏观调 控力度"变化为"实施更加积极有为的宏观政策"，④市场供需方面 表述由"统筹扩大内需和深化供给侧结构性改革"变化为"扩大国内 需求"，⑤科技创新方面表述由"推动高水平科技自立自强"变化为 "推动科技创新和产业创新融合发展"，⑥社会经济方面表述由"切 实增强经济活力、防范化解风险、改善社会预期，巩固和增强经济回 升向好态势，持续推动经济实现质的有效提升和量的合理增长"变化 为"稳住楼市股市，防范化解重点领域风险和外部冲击，稳定预期、 激发活力， ...

| --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | 证券研究报告 | | 电新 & 公用 | | 报告日期： 2024 年 12 月 09 日 | | | 光伏行业强化自律，广东国管海风项目签约 | | | | | ——电新 & 公用行业周报 | | | | | | 华龙证券 ...

| --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | 证券研究报告 | | 电新 & 公用 | | 报告日期： 2024 年 12 月 09 日 | | | 光伏行业强化自律，广东国管海风项目签约 | | | | | ——电新 & 公用行业周报 | | | | | | 华龙证券 ...

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