国联研究：2025年2月金股组合

Market Overview - The market shows signs of stabilization after liquidity tests, typically stabilizing within 10 days before the Spring Festival and continuing trends post-festival[4] - The January rebound is primarily due to a market correction from overselling, lacking strong catalysts[4] - Post-Spring Festival, the market may start trading on expectations from the Two Sessions policies, with potential for a new trend if strong incremental policies are introduced[4] Investment Recommendations - China Pacific Insurance (601601.SH): Expected growth in NBV Margin and net profit due to favorable economic policies and management transitions[18] - Hisense Home Appliances (000921.SZ): Anticipated sales growth driven by subsidy policies and improved product efficiency[19] - Modern Dairy (1117.HK): Potential for price stabilization in raw milk and operational advantages in the dairy sector[20] - Geely Automobile (0175.HK): Strong new car cycles and expanding overseas markets expected to drive growth[24] - Guorui Technology (600562.SH): Anticipated growth in military trade and radar demand post-2024 elections[26] - Zijin Mining (601899.SH): Expected production increases due to global resource allocation[27] - China Mobile (600941.SH): Revenue growth driven by increased 5G penetration and improved dividend payouts[28] - Light Media (300251.SZ): Anticipated performance boost from major film releases and IP collaborations[31] - SMIC (688981.SH): Growth in semiconductor demand driven by domestic production and AI applications[32] - Zhongke Chuangda (300496.SZ): Expected rapid business growth from AI terminal strategies[34]