万和证券：万和财富早班车-20241113

Core Insights - The report highlights the significant growth in the new energy vehicle (NEV) sector, with production and sales reaching 1.463 million and 1.43 million units in October, representing year-on-year increases of 48% and 49.6% respectively, and NEV sales accounting for 46.8% of total new car sales [1] - The approval of the third licensed personal credit agency by the central bank indicates a regulatory shift that may enhance the credit landscape in the industry [2] - New infrastructure investments are expected to accelerate, with related stocks such as Wangsu Technology and Zhongbei Communication identified as potential beneficiaries [2] - The commercial aerospace sector is poised for growth, with companies like Chaojie Co. and Tianyin Machinery expected to participate in national engineering projects, tapping into a market worth billions [2] Industry Dynamics - The report notes that the automotive industry is experiencing a robust export performance, with 542,000 vehicles exported in October, marking an 11.1% year-on-year increase [1] - The upcoming China International Aviation and Aerospace Exhibition will showcase products from companies like Guankang Technology, emphasizing advancements in equipment lifecycle management and digital engineering [2] - Market trends indicate a shift in investor sentiment, with sectors such as pharmaceuticals and new energy vehicles seeing significant inflows, while insurance and military sectors faced outflows [3] Market Review and Outlook - On November 12, the total trading volume in the two markets reached 25.507 billion yuan, with 1,399 stocks rising and 3,605 stocks falling, indicating a mixed market sentiment [2] - The report suggests that the Shanghai Composite Index's support level is at 3,372 points, following a recent breakout and subsequent pullback after testing resistance levels [3] - The report emphasizes a rotation in market focus, with defensive sectors like pharmaceuticals gaining traction while aggressive sectors like semiconductors and military stocks faced corrections [3]