万联证券：万联晨会-20241022

Core Views - The A-share market showed slight gains on Monday, with the Shanghai Composite Index rising by 0.20% to 3,268.11 points, the Shenzhen Component Index increasing by 1.09%, and the ChiNext Index up by 0.69% [2][5] - The total trading volume in the A-share market reached 2.18 trillion yuan, with over 3,500 stocks rising [2][5] - The People's Bank of China announced a 25 basis point reduction in the Loan Prime Rate (LPR) for both the 1-year and 5-year terms, bringing them to 3.1% and 3.6% respectively [2][5] Economic Overview - The third quarter GDP growth rate is expected to be the lowest of the year, with a gradual recovery anticipated in the fourth quarter [5][6] - In September, the GDP growth rate was 4.6% year-on-year, with industrial added value increasing from 4.5% to 5.4% [5][6] - Retail sales in September increased by 3.2% year-on-year, showing a recovery compared to previous months [5][12] Industry Insights - The medical equipment sector is expected to see significant growth due to government policies aimed at accelerating equipment updates, with investments projected to increase by over 25% by 2027 compared to 2023 [11] - The technology sector is emphasized as a key driver for economic development, with a focus on high-level technological self-reliance and innovation [7][8] - The communication industry is set to benefit from the development of a trusted data space, with plans to establish over 100 trusted data spaces by 2028 [9][10] Investment Recommendations - Focus on sectors benefiting from government policies, such as medical equipment and technology innovation [11][7] - Monitor the performance of consumer goods, particularly in the food and beverage sector, which has shown resilience [12][13] - Consider investment opportunities in companies that are enhancing their capabilities in data privacy and cloud services [9][10]