财信证券：晨会纪要-20241106

Market Overview - The overall A-share market showed a strong upward trend with the Wande All A Index rising by 2.97% to close at 5212.05 points, while the Shanghai Composite Index increased by 2.32% to 3386.99 points [4] - The ChiNext Index and the STAR 50 Index outperformed, rising by 4.75% and 4.35% respectively, indicating a strong performance in innovative small and medium enterprises [4] - The market saw significant trading volume with a total turnover of 23,506.46 billion yuan, an increase of 6,271.48 billion yuan from the previous trading day [4] Company Dynamics - Huadong Medicine received approval for the marketing license of its biosimilar drug, Ustinumab injection, which is the first of its kind in China, indicating a significant milestone for the company [16] - Jinbei Electric reported a revenue growth of 15.99% year-on-year for the first three quarters, with a net profit increase of 18.89%, and plans to distribute a cash dividend of 1.45 billion yuan [20][21] - Muyuan Foods achieved a revenue of 967.75 billion yuan in the first three quarters, with a net profit of 104.81 billion yuan, reflecting a significant turnaround in profitability [22][23] Industry Trends - The defense and military, computer, and non-bank financial sectors showed the highest growth rates, while utilities, banking, and household appliances lagged behind [4] - The semiconductor industry is expected to see continued improvement, with a reported revenue of approximately 3,777 billion yuan in the first three quarters, a year-on-year increase of 23% [4] - The real estate sector has shown signs of recovery, with policies implemented since September leading to improved transaction volumes in new and second-hand housing [5] Economic Indicators - The Australian central bank maintained its key interest rate at 4.35% for the eighth consecutive meeting, reflecting a cautious economic outlook [8] - The People's Bank of China conducted a 183 billion yuan reverse repurchase operation to maintain liquidity in the banking system [9] - The Caixin China Services PMI for October was reported at 52, the highest in three months, indicating expansion in the services sector [10]