财信证券晨会纪要-20251210

Market Strategy - The market is experiencing a volume contraction and fluctuation, with the computing hardware sector leading the gains [5][7] - The overall A-share market saw a decline of 0.55%, with the Shanghai Composite Index down by 0.37% and the Shenzhen Component Index down by 0.39% [7][8] - The innovation growth sector, represented by the ChiNext Index, increased by 0.61%, while the North Star 50 Index, representing small and medium-sized enterprises, fell by 1.72% [7][8] Industry Dynamics - In November 2025, the brand television market in China saw a shipment volume of approximately 3.22 million units, a year-on-year decrease of 15.7% [25] - In the first eleven months of 2025, China's crude oil imports increased by 3.2%, while natural gas imports decreased by 4.7% [27] - The overall trade value of goods in China for the first eleven months reached 41.21 trillion yuan, a year-on-year growth of 3.6% [28] Company Tracking - Midea Group (000333.SZ) announced that the total amount of share repurchase has reached 10 billion yuan, completing the repurchase plan [29][30] - Yuanli Co., Ltd. (300174.SZ) plans to acquire 49% of Clarimex to expand its presence in the American activated carbon market [31][33] - Zhengtai Electric (601877.SH) intends to purchase photovoltaic components from related parties, with a total amount not exceeding 3.5 billion yuan [34] - Yisheng Industrial (002458.SZ) reported a 10.27% year-on-year decline in the sales of white feather broiler chicks in November, while sales of breeding pigs increased by 203.74% [36] - Jingji Zhino (000048.SZ) sold 2.11 million pigs from January to November 2025, a year-on-year increase of 8.27% [38]