财信证券：晨会纪要-20241021

Market Data - The Shanghai Composite Index closed at 3261.56, up 2.91% [1] - The Shenzhen Component Index closed at 10357.68, up 4.71% [1] - The ChiNext Index closed at 2195.10, up 7.95% [1] - The STAR 50 Index closed at 978.66, up 11.33% [1] - The North Exchange 50 Index closed at 1079.90, up 10.30% [1] - The CSI 300 Index closed at 3925.23, up 3.62% [1] Financial Metrics - The total market capitalization of the Shanghai Composite Index is 623657 million [2] - The total market capitalization of the Shenzhen Component Index is 214219 million [2] - The total market capitalization of the ChiNext Index is 58201 million [2] - The total market capitalization of the STAR 50 Index is 34135 million [2] - The total market capitalization of the North Exchange 50 Index is 2153 million [2] - The total market capitalization of the CSI 300 Index is 562132 million [2] - The price-to-earnings (PE) ratio for the Shanghai Composite Index is 12.00 [2] - The price-to-earnings (PE) ratio for the Shenzhen Component Index is 21.28 [2] - The price-to-earnings (PE) ratio for the ChiNext Index is 30.95 [2] - The price-to-earnings (PE) ratio for the STAR 50 Index is 43.51 [2] - The price-to-earnings (PE) ratio for the North Exchange 50 Index is 30.72 [2] - The price-to-earnings (PE) ratio for the CSI 300 Index is 11.50 [2] Economic Insights - The GDP for the first three quarters of 2024 grew by 4.8% year-on-year [12] - The industrial added value for September 2024 increased by 5.4% year-on-year [13] - Fixed asset investment for January to September 2024 grew by 3.4% year-on-year [14] - Real estate development investment decreased by 10.1% year-on-year for January to September 2024 [15] - Retail sales of consumer goods in September 2024 grew by 3.2% year-on-year [17] - The capacity utilization rate for industrial enterprises in the third quarter of 2024 was 75.1% [20] Industry Dynamics - The People's Bank of China and the China Securities Regulatory Commission issued a notice regarding the facilitation of securities, fund, and insurance company swaps [3] - The major state-owned banks lowered deposit rates [3] - The real estate market is still in a bottoming adjustment phase, with new housing sales down 17.1% year-on-year [7][16] - The financial sector is expected to see increased activity due to low valuations and policy support for mergers and acquisitions [8] Company Updates - Contemporary Amperex Technology Co., Ltd. (300750.SZ) reported a net profit of 13.136 billion yuan for Q3, a quarter-on-quarter increase of 6.32% [3] - Jiejia Weichuang (300724.SZ) released its performance forecast for the first three quarters of 2024 [3] - Pianzaihuang (600436.SH) reported a net profit of 0.964 billion yuan for Q3 2024, a year-on-year increase of 11.66% [3] - Songjing Co., Ltd. (688157.SH) achieved a net profit growth of 37.06% year-on-year for the first three quarters [3]