中原证券：晨会聚焦-20250207

Key Points - The report indicates that the domestic consumption market is expected to continue a stable growth trend in the first quarter, supported by the government's policies to promote consumption [4][7] - The global manufacturing PMI for January was reported at 50%, reflecting a slight increase of 0.5 percentage points month-on-month, marking three consecutive months of slight growth [4][7] - The communication semiconductor industry is leading the A-share market's upward trend, with a focus on investment opportunities in semiconductor, consumer electronics, gaming, and automotive sectors [6][8] - The electrical equipment sector outperformed the market, with an increase of 1.53% in January, while the overall market saw a decline of 2.59% [14] - The photovoltaic industry is expected to see a record high in new installations in 2024, with a year-on-year growth of 27.80% in new installations [17][18] - The report highlights that the AI industry is facing increased sanctions from the U.S., which may impact China's AI computing supply capabilities [32][34] - The agricultural sector, particularly the pig farming industry, is experiencing price fluctuations, with a year-on-year increase in prices despite a recent decline [34][35] - The report emphasizes the importance of monitoring policy implementation and external factors that may affect economic recovery and market performance [6][8]