巨丰投顾：周二市场震荡运行，PEEK板块继续领涨。在政策刺激下，A股与经济有望同步出现向上的 拐点。随着业绩披露期接近尾声，市场担忧绩差股暴雷风险，投资者可以逢低吸纳绩优成长股。在具体 投资方向上，建议关注国企改革、兼并重组、大消费主题，以及半导体、机器人等新兴生产力领域。 中信建投：特斯拉进一步明确Optimus量产预期，产业化进程持续推进。同时机器人轻量化，尤其是 PEEK材料应用得到广泛关注，其在降低能耗、提高续航，以及提高运动性能和安全性等方面具有优 势。同时小鹏人形机器人也在车展亮相，相关供应链值得关注。人形机器人作为具身智能的最佳载体， 长期空间广阔。建议不拘泥于"人形"深度挖掘"AI+机器人"的投资机会，比如外骨骼机器人、灵巧手和 传感器这三个方向的商业化落地更快，这些方向的放量节奏不以人形机器人放量为必然前提，并且后续 有望能够得到持续的数据验证。 新华财经北京4月29日电（罗浩）沪深两市三大股指29日早间普遍低开，各股指盘初震荡反弹，小幅冲 高后回落，此后三大股指均呈窄幅整理态势，收盘时小幅下跌。 盘面上，PEEK材料板块继续领涨，该板块指数4月29日突破了2025年2月26日和2025年3 ...

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [7] Core Views - The company has reported a significant increase in performance, with Q4 2024 revenue reaching 109 billion yuan, a year-on-year increase of 71.4%, and a full-year revenue of 336 billion yuan, up 18.4% year-on-year. The net profit attributable to shareholders for Q4 was 35 billion yuan, up 368.9%, and for the full year, it was 130 billion yuan, an increase of 38.9% [1][5] - The self-operated business has shown strong resilience, with Q4 self-operated revenue of 40.5 billion yuan, a year-on-year increase of 191.6%, and an annual revenue of 147.7 billion yuan, up 61.8% [2] - The brokerage business has also seen substantial growth, with Q4 brokerage revenue of 33.9 billion yuan, up 101.0% year-on-year, driven by increased market activity [3] Summary by Sections Self-Operated Business - In Q4 2024, the self-operated business generated revenue of 40.5 billion yuan, reflecting a 191.6% increase year-on-year. The annual revenue reached 147.7 billion yuan, up 61.8%. The financial asset scale for 2024 was 520.5 billion yuan, a 10.2% increase from the previous year [2] Brokerage Business - The brokerage revenue for Q4 was 33.9 billion yuan, a 101.0% increase year-on-year, with an annual revenue of 78.4 billion yuan, up 15.5%. The average daily trading volume for stock funds in Q4 was 20,684 billion yuan, a 119.3% increase year-on-year [3] Investment Banking Business - The investment banking revenue for Q4 was 11.2 billion yuan, a 9.1% increase year-on-year, but the annual revenue decreased by 20.8% to 29.2 billion yuan due to stricter regulatory policies affecting underwriting volumes [3] Asset Management Business - The asset management revenue for Q4 was 10.3 billion yuan, a 6.0% increase year-on-year, while the annual revenue decreased by 5.0% to 38.9 billion yuan. The non-monetary public fund management scale increased to 485 billion yuan, a 28.4% year-on-year increase [4] Credit Business - The credit business revenue for Q4 was 7.9 billion yuan, down 33.9% year-on-year, and the annual revenue was 23.6 billion yuan, a decrease of 15.9%, primarily due to regulatory restrictions on margin financing [5] Future Outlook - The company is expected to benefit from the successful merger, with revised profit forecasts for 2025 and 2026 showing net profits of 164 billion yuan and 171 billion yuan, respectively, indicating a year-on-year growth of 25.9% and 4.3% [5]