信达国际控股港股晨报-20251218

Market Overview - The Hang Seng Index has a short-term support reference at 25,000 points, with a recent increase in trading volume and a year-to-date gain of 26.96% [1][3] - The U.S. Federal Reserve announced a 0.25% interest rate cut, marking the third consecutive reduction this year, with expectations for further cuts in 2026 and 2027 [2][4] Company News - Xiaomi (1810) plans to invest approximately 40 billion yuan in R&D in 2026, with a total investment of 200 billion yuan over the next five years [8] - Tencent (0700) has launched its mixed reality model 1.5, allowing users to create interactive worlds using text or images [8] - JD.com (9618) has reopened its digital collectibles business, allowing new digital assets to be transferred [8] - Vanke Enterprises (2202) is reportedly seeking to delay interest payments to some lenders [8] - SenseTime (0020) raised 3.15 billion yuan through a discounted share placement [8] Industry Insights - The macroeconomic environment shows a slight increase in China's public budget revenue, with a year-on-year growth of 0.8% [6] - The real estate sector has seen a 28.5% year-on-year increase in bond financing in November [6] - The Chinese passenger car market's retail sales of new energy vehicles fell by 4% year-on-year in the first two weeks of December [6] - The establishment of a national unified electricity market evaluation system is underway, focusing on operational effectiveness and market competition [6]