光大证券晨会速递-20250509

Group 1: Macro Analysis - The Federal Reserve is expected to maintain a hawkish stance to stabilize inflation expectations, with potential for 2-3 rate cuts in 2025 depending on economic indicators such as consumer and employment data [2] Group 2: New Stock Market Performance - In April 2025, 10 new stocks were listed, raising a total of 8.269 billion yuan, with an average first-day increase of 240.69% for main board stocks and 219.73% for ChiNext stocks, indicating strong market enthusiasm [3] Group 3: REITs Market Overview - As of April 30, 2025, there are 65 public REITs in China with a total issuance scale of 173.026 billion yuan, showing a monthly return rate of 0.65% in a fluctuating secondary market [4] Group 4: Communication Industry Insights - The communication industry saw a significant profit increase in Q1 2025, with 170 companies reporting a total net profit of 52.513 billion yuan, a year-on-year growth of 5.4% and a quarter-on-quarter growth of 88.3% [5] Group 5: Chemical Industry Outlook - The high-performance organic pigment industry is showing a favorable trend, with recommendations to focus on undervalued, high-dividend companies in the oil and gas sector, as well as domestic material companies benefiting from the trend of domestic substitution [6]