1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - On Friday, driven by external markets, the major indices of the two markets in China showed strong performance, with growth - style indices rebounding more strongly. Global investors are regaining confidence in China's long - term growth due to China's technological breakthroughs, cost advantages in AI and other fields, and its resilience in the face of external pressures. In 2026, factors such as incremental macro - policies, declining risk - free rates, the transfer of household savings to the stock market, and continuous inflow of long - term funds will boost the valuation of the A - share market. Global funds are re - increasing their positions in the Chinese stock market, and the Chinese technology sector is becoming a new destination for global funds to layout AI. The risk of a significant rise in the Chinese stock market in 2026 is much higher than that of a significant decline [1][2][3] 3. Summary by Relevant Catalogs 3.1 Market Review - On Friday, the major indices of the two markets ran strongly, with the CSI 500 up 0.97%, the CSI 300 up 0.34%, the CSI 1000 up 0.79%, and the SSE 50 up 0.19%. The trading volume of the two markets was 1.72 trillion yuan, showing a slight increase. Among industry and theme ETFs, tourism, aerospace, intelligent connected vehicle, industrial non - ferrous, and grain ETFs led the gains, while energy, science and technology innovation board artificial intelligence, and chip equipment ETFs led the losses. Among sector indices, Hainan Free Trade, general retail, sports, planting, and duty - free concept indices led the gains, while forestry, components, glass fiber, national banks, and oil and gas exploration indices led the losses. The CSI 500, CSI 300, CSI 1000, and SSE 50 index futures saw net inflows of 37, 31, 24, and 14 billion yuan respectively [1] 3.2 Important News - The Academic Committee of the China Capital Market Society was established to provide theoretical support for the construction of a strong capital market. From December 12th to 18th, the daily trading volume of the A500ETF in the entire market exceeded 40 billion yuan for five consecutive trading days. On December 17th, the total net inflow of stock ETFs was 16.29 billion yuan, with 45 A500ETFs attracting 11.159 billion yuan, accounting for 68.5%. On December 18th, the "investment gold price" display in Shuibei disappeared, and the gold price was shown as the "jewelry gold price". The Bank of Japan Governor said that if the economic outlook is achieved, the Bank of Japan will raise interest rates. According to a Deutsche Bank survey, 57% of respondents listed the burst of the technology bubble as the top risk. European Central Bank officials expect the current interest - rate cut cycle to end. The White House economic advisor said that the CPI report was excellent, and the Fed has room to cut interest rates. OpenAI is planning a new round of up to $100 billion in financing. Meta is developing new AI models. The $63 trillion shadow banking system and the $1.8 trillion private credit market are potential risks to the global financial market. Major oilfield service companies are entering the data center field. In October, foreign holdings of US Treasury bonds decreased by $5.8 billion. The US state of Michigan approved power support for data center projects of Oracle and OpenAI [1][2] 3.3 Market Logic - Driven by external markets, the major indices of the two markets in China showed strong performance. Global investors are regaining confidence in China's long - term growth. The social security fund will carry out asset allocation scientifically. In 2025, the stock market had a net inflow of 2.26 trillion yuan. In 2026, insurance, wealth management, and pension funds will be the three major sources of incremental funds, with institutional incremental funds reaching 3.1 trillion yuan. The scale of public fixed - income + products will at least double. International funds are turning to the AI track outside the US, and the Chinese technology sector is becoming a new destination for global funds to layout AI [1][2][3] 3.4 Market Outlook - Driven by external markets, the major indices of the two markets in China showed strong performance. The social security fund will play the role of long - term funds. Global funds are re - increasing their positions in the Chinese stock market. The risk of a significant rise in the Chinese stock market in 2026 is much higher than that of a significant decline. Google plans to increase AI computing power. The US's return to the Monroe Doctrine will accelerate the flow of global funds to the Chinese capital market. The Fed will cut interest rates and expand its balance sheet. The major indices of the two markets were strongly sorted on Friday, and the main funds protected the market at the 3800 - point level of the Shanghai Composite Index. The market is expected to enter a sideways - shock phase to wait for new opportunities [1][2][3] 3.5 Trading Strategies - For stock index futures directional trading, the market is expected to enter a sideways - shock phase to wait for new opportunities. For stock index option trading, as the market is expected to enter a sideways - shock phase, do not participate in stock index call options for the time being [3]

Group 1: Market Trends and Investment Opportunities - Recent preparations by professional investors for year-end market trends have been noted, with public funds conducting intensive research on companies such as Zhongke Shuguang, Haiguang Information, Luxshare Precision, Changan Automobile, and others, primarily in the manufacturing sector [1] - Institutions believe that the recent market adjustment will provide better investment opportunities for the upcoming year, with structural market trends making certain underperforming sectors more attractive [1] - Analysts from Penghua Fund and Xingzheng Global Fund express optimism about advanced manufacturing, cyclical stocks, and high-performing non-bank stocks, indicating that the upward market trend remains intact despite short-term fluctuations [1] Group 2: Sector-Specific Insights - The lithium battery industry is expected to maintain high demand due to the growth in electric vehicle sales and unexpected storage needs, leading to improved profitability across the supply chain [2] - The innovative drug sector in Hong Kong remains a focus for institutions, with a positive outlook on the industry’s fundamentals and the ongoing trend of innovative drugs going global, which is expected to enhance the upstream supply chain's performance [2] - The commercial aerospace and satellite industry is transitioning from speculative hype to a fundamentals-driven phase, with investment opportunities emerging across the supply chain, particularly in rocket and satellite manufacturing and related applications [3]

中海油服海上钻井平台 中海油服"海洋石油760"物探船 ◎年悦 记者 张雪 "四海两璇"更走向了国际市场。近期，"海恒"固井技术成功获取泰国湾海上五年期服务合同，总金额达 3.2亿元，公司海外油田化学业务实现了从专业技术服务到关键材料销售的突破。 产学研用一体化激活创新动能 "公司'研发—测试—生产—应用'一体化生态让技术创新落地见效。"中海油服科技与信息部相关负责人 说。走进燕郊科技园的研发实验区中，4个足球场大小的空间里，各类精密测试设备有序排布，这是亚 太地区最大的测井和定向井研发基地。 清晨的海面上，"海洋石油760"物探船如同钢铁巨舰破浪前行，船尾拖拽着6至8公里长的"海经"拖缆地 震勘探装备，数条缆线形成巨大的海上探测矩阵。渤海之下，数千米深的海底岩层中，"璇玑"钻头正在 高速旋转中精准转弯，如一条灵动的"钢蛇"在坚硬岩层中游走，探寻着油气藏的踪迹。 作为全球领先的综合性油田服务供应商，中海油服深耕海洋油气勘探开发领域50余年，正转型为技术驱 动的行业标杆。近日，上海证券报记者走进中海油服，在硬核装备与前沿技术的碰撞中，感受中国海洋 油气工业打破国际垄断、筑牢能源安全屏障的力量。 "四海两璇"破解 ...

Group 1 - CNOOC Services announced the fifth board meeting for 2025 will be held on December 19, 2025, in Haikou, focusing on the 2026 credit plan [1] - For the year 2024, CNOOC Services' revenue composition is as follows: oilfield technical services 57.26%, drilling business 27.34%, shipping services 9.87%, and geophysical and engineering survey services 5.53% [1] - As of the report date, CNOOC Services has a market capitalization of 65.5 billion yuan [1]

格隆汇12月19日丨中海油田服务(02883.HK)公布，公司董事会2025年第五次会议审议通过了《关于公司 2026年度理财计划的议案》，董事会同意授权公司首席财务官在年度计划内对具体理财方案进行决策， 该议案获全体董事一致审议通过，该议案无需提交公司股东会审议。 2026年度委托理财单日最高余额上限为人民币100亿元，在上述额度内资金可循环投资、滚动使用，但 任一时点投资余额不超过上述投资额度。 ...

格隆汇12月19日丨中海油田服务(02883.HK)公布，公司董事会2025年第五次会议审议通过了《关于公司 2026年度理财计划的议案》，董事会同意授权公司首席财务官在年度计划内对具体理财方案进行决策， 该议案获全体董事一致审议通过，该议案无需提交公司股东会审议。 2026年度委托理财单日最高余额上限为人民币100亿元，在上述额度内资金可循环投资、滚动使用，但 任一时点投资余额不超过上述投资额度。 ...

证券时报·数据宝统计，安东油田服务在港交所公告显示，12月18日以每股0.770港元至0.840港元的价格 回购1193.60万股，回购金额达969.56万港元。该股当日收盘价0.840港元，上涨7.69%，全天成交额 1704.95万港元。 今年以来该股累计进行16次回购，合计回购8374.00万股，累计回购金额8545.32万港元。（数据宝） 安东油田服务回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.12.18 | 1193.60 | 0.840 | 0.770 | 969.56 | | 2025.12.05 | 558.60 | 0.910 | 0.880 | 499.78 | | 2025.11.14 | 600.80 | 1.010 | 0.980 | 599.84 | | 2025.11.04 | 475.00 | 1.070 | 1.030 | 499.89 | | 2025.11.03 | 472.60 | 1.070 | 1.040 | 499 ...

安东油田服务(03337)发布公告，该公司于2025年12月18日斥资969.56万港元回购1193.6万股股份，每股 回购价格为0.77-0.84港元。 ...

格隆汇12月18日丨安东油田服务(03337.HK)公告，12月18日耗资969.6万港元回购1193.6万股。 ...

智通财经APP讯，安东油田服务(03337)发布公告，该公司于2025年12月18日斥资969.56万港元回购 1193.6万股股份，每股回购价格为0.77-0.84港元。 ...