金融界财经早餐：2026年“国补”政策出炉！房产业再迎催化，个人卖房满2年免征增值税；长鑫科技科创板IPO获受理；MiniMax今日启动招股（12月31日）

Economic Policies - The Central Rural Work Conference emphasized the importance of modernizing agriculture and rural areas, with a focus on food production and policies to support farmers' income stability [1] - The 2026 national subsidy plan was released, allocating 62.5 billion yuan for consumer goods replacement and updates, with new categories including smart glasses and smart home products [1] - A new tax policy was announced, reducing the VAT on the sale of homes held for less than two years from 5% to 3%, which is expected to increase the activity in the second-hand housing market [2] Capital Market Developments - The A-share market saw significant growth in 2025, with the Shanghai Composite Index reaching over 4000 points and total market capitalization hitting 119.04 trillion yuan, driven by increased capital inflow [4] - Hong Kong's IPO market is set for a strong start in the new year, with three Chinese tech companies planning to raise over $1 billion through IPOs [5] - Tesla's delivery expectations for Q4 have been revised downwards, with analysts predicting a 15% year-on-year decline in vehicle deliveries [5] Industry Highlights - The automotive industry is undergoing a digital transformation, with goals set for 2027 to enhance manufacturing capabilities and digital integration across various enterprises [2] - China's automotive sales are projected to grow by 17% in 2025, positioning the country as the largest global automotive market, surpassing Japan [6] - The price of copper has reached historical highs due to increased demand from energy transition and AI infrastructure developments [8] Company Updates - Guizhou Moutai announced adjustments to its product lineup for 2026, focusing on various series of its liquor products [10] - Tianpu Co. has seen its stock price surge by 718.39% since August 2025, leading to a suspension for verification due to significant deviation from its fundamentals [10] - Ningde Times plans to build over 3,000 battery swap stations by next year, enhancing its network for electric vehicle charging [10] - Xiaomi is expanding its automotive product matrix, planning to launch at least four new models in 2026, including both electric and range-extended vehicles [11] - China National Airlines intends to purchase 60 Airbus A320NEO aircraft, totaling approximately $9.53 billion, to enhance its fleet capacity [10]