Guotai Junan expects Hong Kong stocks to fluctuate upward in an N-shaped pattern next year to explore domestic demand and improve investment opportunities. Chen Ximiao, chief analyst of Guotai Junan's overseas strategy, said that looking forward to 2025, the disturbance factors in the Hong Kong stock market from the external environment will continue, and the pace of interest rate cuts by the Federal Reserve under overseas inflation, policy restrictions in areas such as strong US dollar and tariffs, and game friction among big countries will continue. However, the domestic policy thinking is clear, economic expectations are expected to stabilize under the financial impetus, and the profitability of molecular enterprises will improve, and the industrial chain will be able to cope with it. She said that in 2025, the sensitivity of the Hong Kong stock market to external shocks is expected to decline, and more attention should be paid to returning to its own logic. For the trend of Hong Kong stocks in 2025, it is expected to be dominated by the upward pattern of N-shaped shocks, and there are many opportunities for flexibility during the stage. In 2025, we should still actively look for the structure, and focus on the barbell strategy to shift the weight of the two ends. We need to pay more attention to the configuration rhythm and pay attention to the repair opportunities of some domestic products.Haoen Automobile & Power Co., Ltd. established a laser technology company with a registered capital of 50 million yuan. According to the enterprise search APP, Shenzhen Haoen Laser Technology Co., Ltd. was established recently, with Chen Tefang as the legal representative and a registered capital of 50 million yuan. Its business scope includes research and development of auto parts. Software development; Internet of things technology research and development; Internet of things technical services; Digital technology services; Intelligent vehicle equipment manufacturing; Radar and supporting equipment manufacturing, etc. Enterprise equity penetration shows that the company is wholly owned by Haoen Automobile and Power Company.Dongxing Securities: The demand for food and beverage will pick up. Dongxing Securities Research Report pointed out that with the implementation of a series of policies such as expanding domestic demand and stabilizing investment, consumption will gradually stabilize and recover, and the demand for food and beverage will also pick up. In particular, catering consumption will recover with the economic recovery. It is expected that the upstream and downstream consumption of catering will improve, and the overall demand of liquor, condiments, beer and other industries is gradually recovering. Especially in the condiment industry, it is speculated that the whole industry is in destocking after the Mid-Autumn Festival. With the arrival of consumption in the peak season of New Year's Day and Spring Festival, the stocking period in the peak season is expected to start, and it is expected that mainstream condiment enterprises will achieve steady growth in the fourth quarter. At present, the overall valuation of the industry is lower than the historical average valuation, and there is room for repair. Continue to pay attention to liquor, snack food and condiments in the pro-cyclical sector of the food and beverage industry.
Baoxin software: Baokang electronic Beidou vehicle-mounted positioning terminal has achieved a substantial breakthrough in Beidou application through the certification of the Third Institute of Public Security. Recently, the Beidou vehicle-mounted positioning terminal independently integrated by Baoxin software Baokang Electronics has passed the authoritative certification of the Third Institute of Public Security. The terminal adopts a fully domestic chip, which indicates that Baokang Electronics has made a substantial breakthrough in the Beidou application field and has taken a solid step to expand into new business fields. The terminal is based on a single Beidou chip, and all components are made in China, which can achieve centimeter-level accurate positioning. It has a wide application potential in many fields, such as official vehicle management, iron ore transport vehicle scheduling, steel coil frame transport vehicle positioning, fully automatic torpedo tank car positioning, electric bicycle management and so on.Full implementation is just around the corner, and personal pension products will be expanded. The reporter learned from the industry that the Ministry of Human Resources and Social Security will mobilize and deploy the full implementation of the personal pension system recently. The personal pension pilot will be fully liberalized in the near future, expanding from the original 36 pilot cities to the whole country, and it is expected to be fully implemented quickly. Personal pension fund products have also ushered in expansion, and some mature broad-based ETF-linked funds and broad-based index OTC products will add Y shares. At present, various fund companies are in full swing to prepare for the full liberalization of the individual pension pilot. (CSI Taurus)The CSI A500ETF paid dividends for the first time. On December 11th, ICBC Credit Suisse announced the dividend, becoming the first CSI A500ETF product to announce the dividend. The dividend plan is to allocate 0.066 yuan for every 10 fund shares, the base date of income distribution is November 29, and the net value of fund shares on the base date is 1.0078 yuan. In addition, ICBC Credit Suisse CSI A500ETF's dividend registration date is December 13th, and the cash dividend payment date is December 18th.
South Korean police seized and searched the Police Department, Seoul Police Department and National Guard. On December 11th, local time, South Korean police seized and searched the Police Department, Seoul Police Department and National Guard. (CCTV News)Shibor reported 1.5280% overnight, up 5.8 basis points; In 7 days, shibor reported 1.7220%, down 6.2 basis points; In three months, shibor reported 1.7440%, down 0.4 basis points.The Taiwan Affairs Office of the State Council refutes Lai Qingde's fallacy of so-called transit to the United States. CGTN reporter from the Central Radio and Television General Station: Lai Qingde falsely claimed that "the biggest challenge at present is the threat of China" when he transited to Hawaii in the United States a few days ago. What's your comment on Taiwan Province's future development plan and threatened to "strengthen its national defense forces"? Zhu Fenglian, spokesperson of the Taiwan Affairs Office of the State Council, said: We resolutely oppose any form of official exchanges between the United States and Taiwan, and resolutely oppose the "transit" of Taiwan Province leaders to the United States under any name and for any reason. Lai Qingde's so-called "transit" is essentially "seeking independence by relying on foreign countries", trying to mislead international public opinion and people on the island by peddling its "Taiwan independence" proposition. At present, the biggest challenge in cross-strait relations is that the Democratic Progressive Party authorities stubbornly adhere to the "Taiwan independence" stance, link up with external forces to frequently provoke "independence" and tie Taiwan Province to the "Taiwan independence" chariot. We are telling the Democratic Progressive Party authorities to give up the illusion of "seeking independence by force" and "seeking independence by relying on foreign countries" at an early date and stop the "Taiwan independence" separatist activities. Only by returning to the "1992 Consensus" which embodies the one-China principle can cross-strait relations return to the correct track of peaceful development and the development future of Taiwan Province be effectively guaranteed.
Strategy guide 12-13
Strategy guide