本周操盘攻略：国产AI当打之年

Economic Outlook - The government aims for a GDP growth of around 5% this year, with an urban unemployment rate target of approximately 5.5% and over 12 million new urban jobs [2] - A more proactive fiscal policy is planned, with a deficit rate set at around 4%, totaling 5.66 trillion yuan, and the issuance of special bonds amounting to 1.3 trillion yuan [2] - The central bank will adopt a moderately loose monetary policy, with potential reserve requirement ratio (RRR) cuts and interest rate reductions to support the real estate and stock markets [2] Capital Market Developments - The China Securities Regulatory Commission (CSRC) is accelerating capital market reforms, focusing on enhancing support mechanisms for technology enterprises and facilitating the entry of long-term funds into the market [3] - The total market value of public funds holding A-shares has increased from 5.1 trillion yuan at the beginning of 2024 to 6 trillion yuan, a growth of 17.4% [3] - The FTSE Russell announced changes to several indices, including the FTSE China A50 Index, which will include new stocks such as Cambricon Technologies and China Unicom [3] Trade and Tariffs - The State Council Tariff Commission announced additional tariffs on certain imports from the U.S., including a 15% tariff on chicken, wheat, corn, and cotton, and a 10% tariff on other agricultural products [4] - From March 20, tariffs on imports from Canada will also increase, with a 100% tariff on certain products [5] Consumer Sector Initiatives - The draft national economic and social development plan for 2025 includes actions to boost consumption, enhance supply quality, and improve the consumption environment [7] - The National Development and Reform Commission (NDRC) plans to release a "Special Action Plan to Boost Consumption" soon [7] Technology and Data Industry - The central government is promoting the development of smart agriculture and digital rural initiatives, focusing on integrating 5G technology with smart farming [8] - The National Data Bureau is working to enhance communication with data enterprises to facilitate high-quality development in the data industry [9] Corporate Highlights - Alibaba Cloud has launched a new open-source inference model, QwQ-32B, which shows significant performance improvements [11] - Xiaomi's global smartphone shipments are projected to grow by 15% year-on-year in 2024, with high-end phone sales increasing by 43% [11] - JD Group reported a revenue of 115.88 billion yuan for 2024, a year-on-year increase of 6.8%, with a net profit growth of 71% [12] Stock Unlocking Events - A total of 35 companies will have their restricted shares unlocked this week, amounting to 1.805 billion shares with a total market value of approximately 37.597 billion yuan [17] - The highest market value of unlocked shares is from Jiangxin Home (8.797 billion yuan), Zhongci Electronics (8.301 billion yuan), and Wankong Intelligent Manufacturing (4.673 billion yuan) [19] New Stock Issuance - Five new stocks are set to be issued this week, with a total expected fundraising of 2.188 billion yuan [21] Market Sentiment and Future Outlook - Huatai Securities emphasizes the importance of directing capital market resources towards new industries and technologies, enhancing financial support for technological innovation [23] - CITIC Securities notes that attention to policies and corporate earnings reports will increase as the two sessions and the earnings disclosure period approach [25] - Ping An Securities highlights the significant investment opportunities in the AI sector, driven by both industry and policy support [26]