国信证券：晨会纪要-20241204

Macro and Strategy - The central bank is providing support to maintain liquidity, with a net liquidity injection of 518 billion yuan last week, including 90 billion yuan through MLF [4] - The market is observing a decrease in transaction volume, with the total market transaction volume at the 85.1 percentile level for the year [5] - The average daily transaction volume in the interbank market decreased by 0.32 trillion yuan compared to the previous week [4] Industry and Company - The home appliance industry is experiencing a significant increase in production, with a 22% year-on-year growth in white goods production in December [21] - The implementation of the old-for-new policy has shown remarkable results, with sales of major home appliances reaching 137.8 billion yuan [21] - The securities industry is witnessing active merger and acquisition transactions, with regulatory policies promoting restructuring to enhance shareholder returns [25] - The North Exchange has seen a significant increase in trading activity, with total market capitalization reaching 686.5 billion yuan, marking a 13.5% increase [20] - China National Offshore Oil Corporation (CNOOC) is successfully launching new domestic and international projects, indicating strong long-term growth potential [21]