Venture(US:VEMLY) Feng Huang Wang Cai Jing·2025-12-19 01:34Market Performance - Major indices opened higher with Shanghai Composite Index up 0.05%, Shenzhen Component Index up 0.48%, and ChiNext Index up 0.89% [1] - Shanghai Composite Index at 3,878.23 points with a trading volume of 57.20 billion [2] - Shenzhen Component Index at 13,116.19 points with a trading volume of 92.30 billion [2] - ChiNext Index at 3,134.80 points with a trading volume of 39.50 billion [2] External Market - US stock indices rose, with Nasdaq leading at approximately 1.4% increase, closing at 23,006.36 points [3] - Notable gains in popular Chinese stocks, with Naspers China Dragon Index up 0.97% [3] Industry Insights - CICC predicts leading pig farming companies will continue to outperform the industry by 2026, with a new pricing paradigm expected to stabilize [4] - Huatai Securities notes that November's US CPI data was significantly below expectations, suggesting a pause in Fed rate cuts [5] - CITIC Securities highlights the growing adoption of liquid cooling technology in data centers, predicting a global market size of $21.8 billion by 2027 [6] - Guojin Securities reports on CICC's plan to merge with Dongxing and Xinda Securities, which may enhance industry concentration and improve valuation [7][8]