360 Security Technology (SH:601360) Sou Hu Cai Jing·2025-12-17 00:47Economic Policy and Market Outlook - The central financial office emphasizes that expanding domestic demand will be the top priority for next year, with domestic demand contributing 71% to economic growth in the first three quarters of this year [1] - The social security fund aims to leverage long-term capital to support national development needs and promote high-quality development of the fund industry [1] Employment and Labor Market - In November, the U.S. non-farm payrolls increased by 64,000, exceeding expectations, but the unemployment rate rose to 4.6%, the highest in four years [2] Capital Market Developments - International institutions like UBS and JPMorgan are optimistic about the profit improvement potential of Chinese assets, with foreign long-term funds net buying approximately $10 billion of A-shares and H-shares through various channels by November [2] - The central economic work conference calls for deepening capital market reforms, which may enhance the role of brokerages in direct financing services, leading to potential valuation recovery for brokerage stocks [2] Industry Highlights - The storage chip market is expected to see a price increase of 30%-35% for LPDDR4X/5X in Q1 2026 [5] - The global demand for lithium is projected to grow by 30% year-on-year in 2026, with a significant increase in demand for energy storage batteries [5] - The National Medical Products Administration has approved the first invasive brain-computer interface product for treating drug addiction in China [5] - Alibaba has released a new generation of AI models aimed at professional film production and image creation [5] Company Updates - Muxi Co., a full-stack GPU manufacturer, has attracted market attention with its IPO, priced at 104.66 yuan per share, with potential for significant first-day gains [5] - Xichuang Data plans to invest up to 9 billion yuan in server procurement to enhance its cloud computing services [6] - Changan Automobile is set to trial L3 autonomous driving applications in Q1 2026 [7] - Huazhong Cable intends to acquire a 70% stake in San Zhu Technology to enhance its industry chain [7] - Luckin Coffee is considering acquiring Blue Bottle Coffee to enhance its brand image and expand into the high-end coffee market [8]