财信证券：晨会纪要-20241113

Market Overview - The A-share market is experiencing a volume adjustment, with the ChiNext index showing relative resilience [5] - As of November 12, the Shanghai Composite Index closed at 3421.97, down 1.39%, while the ChiNext index closed at 2390.80, down only 0.07% [5] - The overall market saw a total trading volume of 25,870.3 billion yuan, an increase of 404.98 billion yuan from the previous trading day [5] Industry Dynamics - The beauty sector saw a significant growth in GMV during the Double 11 shopping festival, with a 27% year-on-year increase, reaching 1237.8 billion yuan [15] - The medical insurance fund prepayment system was established to alleviate financial pressure on designated medical institutions, enhancing service capabilities [16] - The COP29 conference has made progress in establishing global carbon market rules, which could impact various industries [17][18] - Baidu launched its first AI glasses, expected to be available in the market next year, showcasing advancements in AI technology [19] - The storage chip market is stabilizing after a price rebound, with NAND and DRAM products showing varied price movements [20] Company-Specific Insights - Kemei Foods has completed its share repurchase plan, with a total repurchase amount of 76.99 million yuan, representing 2.70% of its total share capital [25] - High Measurement Co. reported a significant decline in revenue and profit for the first three quarters, with a revenue drop of 18.50% and a net profit decline of 82.49% [27] - The company expects to see a recovery in its cutting wire and slicing business, despite facing pressure from the overall photovoltaic industry [28]