NEW POWER(SZ:300152) Sou Hu Cai Jing·2025-12-01 00:46Group 1 - The core viewpoint is that the Federal Reserve's expected interest rate cuts in the second half of the year will provide new momentum for gold prices to rise, driven by declining nominal and real interest rates due to falling inflation and a weakening labor market [1] Group 2 - Huatai Securities suggests a balanced allocation between growth and cyclical sectors in anticipation of a spring market rally, driven by improved macro liquidity, policy catalysts, and the digestion of market pressures [2] - The report highlights specific sectors to focus on, including aviation equipment and AI-related energy storage, as well as chemicals and energy metals for cyclical investments [2] - Additionally, large financials and high-value consumer sectors, such as liquor and consumer building materials, are recommended as foundational choices for mid-term asset revaluation in China [2] Group 3 - Tianfeng Securities indicates that the antimony smelting market may still experience a wave of price increases due to tightening supply from ongoing order deliveries, despite a potential slight price correction in December [3] - The report anticipates that demand for inventory replenishment before the Spring Festival may lead to further price increases in the market [3]