Huaxi Securities Interpretation of the Political Bureau Meeting in December: The policy strength showed an upward trend. The Huaxi Securities Research Report pointed out that the release signal of this meeting was positive. Judging from the significant strength of Hong Kong stocks and A50 futures, the content of the meeting greatly exceeded previous market expectations. There are mainly the following aspects: First, the policy tone is more positive. "Strengthening unconventional countercyclical adjustment", which is used to describe countercyclical adjustment for the first time, reflects the upward trend of policy strength. The policy of this year's two sessions is expressed as "strengthening countercyclical and cross-cyclical adjustment of macro policies", the Politburo meeting in July "strengthening countercyclical adjustment" and the Politburo meeting in September "strengthening countercyclical adjustment". From the point of view of change, it gradually turns to counter-cycle instead of cross-cycle, and the intensity is constantly upgrading. Create a follow-up policy for the market that may continue to be introduced until the economy stabilizes and rebounds. At the same time, the meeting did not mention "coordinating the expansion of domestic demand and deepening the structural reform of the supply side", but directly mentioned the expansion of domestic demand, which is also a manifestation of facing the problem more directly and attaching importance to the demand side. Second, as far as finance and money are concerned, this meeting mentioned "implementing a more active fiscal policy and a moderately loose monetary policy", and the modifier "more" was added in front of the active fiscal policy. A similar expression was found in the Politburo meeting in April 2020, "The active fiscal policy should be more active and promising", and then in May, the two sessions formulated a large-scale fiscal combination boxing (deficit ratio 3.6%+, 3.75 trillion new special debts and 1 trillion special national debts). The third is to stabilize the property market and write the stock market into the 2025 goal. The fourth is to pay attention to consumption. The meeting mentioned "vigorously boosting consumption, improving investment efficiency and expanding domestic demand in all directions". It is expected that the policy of promoting consumption will make a breakthrough in scale and direction. Fifth, the meeting also mentioned science and technology (to lead the development of new quality productive forces with scientific and technological innovation and build a modern industrial system), green (to jointly promote carbon reduction, pollution reduction and green growth, and accelerate the overall green transformation of economic and social development) and foreign trade. Emphasizing science and technology, it is clear that the direction of future policy is in the industrial direction led by science and technology. At the same time, for green, because next year is the last year of the 14 th Five-Year Plan, emission reduction and other targets need to be completed. In terms of foreign trade and foreign investment, the meeting mentioned that "it is necessary to expand high-level opening to the outside world and stabilize foreign trade and foreign investment".Xinhua Pharmaceutical Co., Ltd.: It plans to acquire no more than 75% equity of Noah Shengnuo. Xinhua Pharmaceutical announced that the company signed an Intention Agreement on Equity Acquisition with NovoSanaB.V on December 9, 2024, and plans to acquire no more than 75% equity of Noah Shengnuo in cash, and will become its controlling shareholder after the acquisition. The specific acquisition plan and transaction price will be determined according to the results of due diligence, audit and evaluation.Caitong Securities: It is expected that the main objectives and tasks of economic and social development will be successfully completed throughout the year. the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on December 9 to analyze and study the economic work in 2025. According to Chen Xing, the macro chief analyst of Caitong Securities, from the current situation, the economic operation has been generally stable this year, and the key areas of risks have also been resolved in an orderly and effective manner. The meeting has confidence in this year's economic performance, and it is expected that the main objectives and tasks of economic and social development will be successfully completed throughout the year. From the perspective of future deployment, first, the positive attitude is unprecedented. The meeting mentioned that the policy will be more active and promising, and on the basis of counter-cyclical adjustment, it emphasized that the intensity should be "extraordinary" to offset "external shocks". We will implement a more proactive fiscal policy and a moderately loose monetary policy. Second, pay more attention to the actual effect of policies, not only to strengthen the forward-looking, targeted and effective regulation at the macro level, but also to promote the effectiveness of landmark reform measures in specific measures. Third, pay more attention to systematicness, emphasize "system integration and coordination", improve the toolbox, lay a good policy "combination boxing" and stabilize expectations.
The number of trains stopped at Yizhuang Station has increased to 12 pairs since the 10th. The reporter learned from the Beijing Bureau of China Railway that the new train operation map will be implemented between Beijing and Tianjin from December 10th, and the new map has optimized the morning and evening peak train operation schemes in Beijing and Tianjin. Without affecting the transportation capacity of stations along the route, the number of trains stopping at Yizhuang Station will be increased from 6 pairs to 12 pairs, the number of trains running at tianjin railway station and Tianjin West Railway Station will be optimized, and a pair of trains stopping at Yizhuang Station and Wuqing Station will be arranged at the same time in the morning and evening rush hours, providing more convenient travel options for passengers along the route.The Gansu Provincial Department of Transportation launched a Class IV defense response to low-temperature rain, snow and freezing disasters, and the Lanzhou Central Meteorological Observatory issued a blue warning of blizzard at 10: 34 on December 9: It is expected that there will be heavy snow in Lanzhou, Baiyin, Dingxi, Linxia and other cities and States, as well as northern Gannan, western Tianshui, western Pingliang, western Qingyang, southern Zhangye and southern Wuwei from 15: 00 on the 9 th to 20: 00 on the 10 th; Blizzard will appear in southern Linxia, western Dingxi, southern Lanzhou and central Baiyin. According to the relevant provisions of "Emergency Plan for Highway Traffic Security in Gansu Province" and "Comprehensive Emergency Plan for Transportation in Gansu Province", the Gansu Provincial Department of Transportation decided to start the level IV defense response to the freezing rain, snow and ice disaster of transportation at 20: 00 on December 9.Cube Pharmaceutical's mid-term profit distribution plan for 2024: It is planned to send 10 parties to 2 yuan. Cube Pharmaceutical disclosed its mid-term profit distribution plan for 2024 on the evening of December 9, and plans to distribute a cash dividend of 2 yuan (including tax) to all shareholders for every 10 shares. Based on this preliminary calculation, the company plans to distribute a total cash dividend of 38,252,100 yuan (including tax).
Ziguang shares: Ziguang special account has reduced its holdings of 28.5 million shares, and Ziguang shares (000938.SZ) issued an announcement. As of December 9, 2024, Ziguang Group Co., Ltd.' s special account for property disposal of bankrupt enterprises (hereinafter referred to as "Ziguang special account") has reduced its holdings of 28.5 million shares through centralized bidding, accounting for 0.9965% of the company's total share capital, and the reduction price range is 2474 yuan/share. The reduction plan has been implemented.IDF: Unit 210 continued its defensive activities, and the first paratroopers entered Syria.German Interior Minister: Further assessment of the protection status of recognized Syrian refugees living in Germany depends on the developments in Syria.
Strategy guide 12-13
Strategy guide
12-13