天风证券：晨会集萃-20241219

Group 1: Macro and Strategy Insights - The report indicates a "calm period" before Trump's inauguration, suggesting that market movements may not correlate strongly with economic data during this time [1] - It discusses a market style shift, emphasizing a "barbell strategy" where one side focuses on policy shifts and improving future expectations, while the other side reflects the time needed for policy effects to materialize [1] - The report warns against chasing high prices in a volatile market, advising caution until fundamental improvements are confirmed post-Chinese New Year [1] Group 2: Industry and Company Highlights - DataPort, a state-owned data center company, has established 35 data centers with a total capacity of 371.1 MW, indicating a strategic presence in key regions [5][25] - The company is expected to see stable revenue growth following a period of rapid fixed asset expansion, with projected net profits of 126 million, 157 million, and 184 million yuan for 2024-2026 [5][25] - Prolo Pharmaceutical, a leading raw material drug company, is expanding into the medical and cosmetic raw materials sector, with a projected revenue growth of 8.10%, 10.77%, and 10.59% for 2024-2026 [11][19] Group 3: Financial Performance and Projections - Prolo Pharmaceutical's net profits are expected to reach 11.11 million, 12.43 million, and 13.92 million yuan from 2024 to 2026, reflecting a strong growth trajectory [11][19] - The report anticipates that DataPort's revenue will stabilize after a rapid expansion phase, with a focus on maintaining high-quality operations and increasing R&D investments [5][25] - The report highlights the importance of customer structure and product differentiation in the metal packaging industry, projecting revenue growth for the company involved in this sector [19]