财信证券：晨会纪要-20241127

Market Overview - The A-share market is experiencing a correction, with major indices showing declines, particularly the North Exchange 50 index which fell by 3.92% [2][6] - The total market capitalization of the Shanghai Composite Index is 619,753 billion, with a PE ratio of 11.42 and a PB ratio of 1.21 [2][6] - The Shenzhen Component Index has a total market capitalization of 213,666 billion, with a PE ratio of 21.13 and a PB ratio of 2.15 [2][6] Economic Insights - The U.S. plans to impose a 25% tariff on all products from Mexico and Canada, which may impact market sentiment [3][12] - From January to October, profits of state-owned enterprises decreased by 1.1% year-on-year, with total revenue of 676,606 billion [3][13] - The central bank conducted a 2,993 billion 7-day reverse repurchase operation to maintain liquidity [3][14] Industry Dynamics - Inner Mongolia has released a development plan for green hydrogen pipeline construction, focusing on both internal and external hydrogen consumption markets [3][20] - The storage chip market is showing price stability after a rebound, with NAND product prices for 256GB and 512GB SSDs at $15.4 and $26.7 respectively [3][21] - The Ministry of Industry and Information Technology and other departments have issued a plan for the large-scale application of 5G technology by the end of 2027, aiming to enhance digital transformation across various industries [3][24] Company Updates - Bozhong Precision Engineering plans to transfer 5.426% of its shares to a strategic investor, which will not affect the control of the company [3][25] - GF Securities has received approval for its market-making trading business, which is expected to enhance its performance [3][26] - Xinhua Medical has obtained a medical device registration certificate for its disposable blood dialysis tubing [3][27] Investment Opportunities - The report highlights potential investment opportunities in sectors such as technology, particularly in semiconductor and defense industries, due to increased trade uncertainties [3][6] - The precious metals sector is noted for its investment value amid geopolitical risks and potential inflation [3][6] - The report suggests focusing on companies with strong technological capabilities and those involved in the green energy transition [3][6]