财信证券：晨会纪要-20241028

Market Overview - The A-share market showed positive performance with the Shanghai Composite Index closing at 3299.70, up 0.59%, and the Shenzhen Component Index at 10619.85, up 1.71% [1] - The total market capitalization of the Shanghai Composite Index is 6276.38 billion, with a PE ratio of 11.96 and a PB ratio of 1.25 [1] Economic Indicators - From January to September, the national general public budget revenue decreased by 2.2% year-on-year, totaling 163,059 billion [11] - The innovation index in China increased by 6.0% in 2023, reaching 165.3, indicating a steady growth in innovation capabilities [12] - The profits of industrial enterprises above designated size fell by 3.5% year-on-year in the first nine months, totaling 52,281.6 billion [13] Industry Dynamics - The Ministry of Agriculture and Rural Affairs indicated that the fluctuation of pig prices in the fourth quarter is expected to be small, with normal profit levels for pig farming [19] - The Chinese smartphone market saw a year-on-year shipment increase of 3.2% in Q3 2024, marking four consecutive quarters of growth, with the average selling price of smartphones rising significantly [20] Company Performance - New Coordinates (603040.SH) reported a net profit of 0.50 billion in Q3 2024, a year-on-year increase of 22.56% [2] - Jianneng Home (603408.SH) achieved a 36.66% increase in Q3 performance and plans to expand overseas production capacity [2] - Yiwai Lithium Energy (300014.SZ) reported a net profit of 1.051 billion in Q3, a decrease of 17.44% year-on-year [2]