万联证券：万联晨会-20241029

Core Insights - The A-share market showed mixed performance with the Shanghai Composite Index rising by 0.68% and the Shenzhen Component Index increasing by 0.62%, while the ChiNext Index fell by 0.44% [2][7] - The total trading volume in the Shanghai and Shenzhen markets reached 18,623.33 billion yuan [2][7] - In the industry sector, the leading performers were comprehensive, steel, and retail, while banking, non-bank financials, and electric equipment lagged [2][7] Market Review - The Hang Seng Index in Hong Kong rose by 0.04%, and the Hang Seng Technology Index increased by 0.79% [2][7] - In the overseas markets, all three major U.S. indices closed higher, with the Dow Jones up by 0.65%, the S&P 500 up by 0.27%, and the Nasdaq up by 0.26% [2][7] Important News - The People's Bank of China announced the introduction of a new open market reverse repurchase operation tool starting October 28, aimed at enhancing market liquidity and managing the maturity of medium-term lending facilities [3][7] - The State Council issued measures to improve the fertility support policy system, focusing on enhancing services and creating a supportive environment for childbirth [3][7] Company-Specific Insights - For the diamond industry, India's September data showed a significant decline in both the import and export of cultivated diamonds, with imports down by 25.57% and exports down by 16.50% year-on-year [8] - The natural diamond sector also experienced a decline, with imports down by 24.62% and exports down by 22.87% year-on-year, although the rate of decline was less severe than in previous months [8] - The price index for international finished diamonds fell by 1.03% in September, indicating ongoing challenges in market demand [8] Financial Performance - For Runben Co., the Q3 net profit increased by 32% year-on-year, with total revenue for the first three quarters reaching 1.038 billion yuan, a 25.98% increase [10] - New Media Co. reported a steady revenue growth of 5.94% year-on-year for the first three quarters, although net profit decreased by 14.38% due to tax rate adjustments [11][12] - China Resources Sanjiu's revenue for the first three quarters was 19.740 billion yuan, up 6.08%, with net profit increasing by 23.19% [14][15] Strategic Developments - China Resources Sanjiu is focusing on optimizing its business layout and enhancing brand recognition in the consumer health category, while also pursuing strategic acquisitions to strengthen its market position [15] - Tian Tan Biological's blood product production capacity is expanding, with ongoing research and development of new products, positioning the company as a leader in the blood products sector [16][17]