招商电子·2026-01-01 02:15Group 1 - The article expresses New Year wishes from the Yan Fan team at China Merchants Securities, emphasizing a positive outlook for the upcoming year [1] - The team is led by Yan Fan, who has extensive experience in the securities industry and holds degrees from Peking University and Guanghua School of Management [4] - The team has received multiple accolades in the electronic industry, ranking highly in various analyst awards over the years [4] Group 2 - The article outlines the stock rating system used by the company, categorizing recommendations based on the stock's performance relative to the CSI 300 Index [5] - Ratings include "Strong Buy" for stocks outperforming the index by over 20%, "Buy" for a 5-20% outperformance, "Neutral" for performance within ±5%, and "Avoid" for underperformance by more than 5% [5]