东兴证券：东兴晨报-20250220

Group 1 - The core viewpoint of the report emphasizes the continuation of the spring market rally leading up to the Two Sessions, with a strong focus on technology stocks as a primary investment theme [1][2] - The report highlights the significant role of AI in transforming industries, suggesting that the acceptance and integration of AI technologies are accelerating across various sectors [1] - The report anticipates that the technology sector will experience a revaluation, driven by breakthroughs in hard technology and the ongoing US-China tech competition [1][2] Group 2 - The report discusses the expected early emergence of the Two Sessions market, with agriculture and consumption sectors likely to be key discussion topics [2] - It notes that while the consumption sector is currently underperforming, it is viewed as a critical driver for economic recovery, with potential for significant upside as investor sentiment improves [2] Group 3 - The report provides insights into the performance of the A-share and Hong Kong markets, detailing index movements and percentage changes [4] - It includes a calendar of new stock issuances in the A-share market, indicating ongoing activity in the capital markets [5] Group 4 - The report outlines the strategic initiatives of a specific company, Juewei Food, in leveraging AI for its retail operations, highlighting its comprehensive digital transformation efforts [8][9] - It details the collaboration between Juewei and Tencent to enhance AI applications in retail, which has led to significant improvements in operational efficiency [9][10] Group 5 - The report discusses the coal industry, noting a continued decline in coal prices and a decrease in daily coal consumption by major power generation groups [25][26] - It highlights the monthly production data from key coal-producing regions, indicating fluctuations in output and inventory levels [26][27] Group 6 - The report anticipates the release of the 2025 Central Document No. 1, focusing on rural revitalization, food security, and agricultural technology advancements [21][22][23] - It identifies specific investment opportunities within the agriculture sector that are likely to benefit from the upcoming policy changes [23]