Citic Jiantou: The demand for promoting the release of opinions on the pipeline network and water renovation in resilient cities is expected to increase. According to the research report of CITIC Jiantou, recently, the general offices of the General Office of the Central Committee of the CPC and the State Council issued the Opinions on Promoting the Construction of New Urban Infrastructure to Create a Resilient City, which clearly stated that it is necessary to build an intelligent and efficient new urban infrastructure system and continuously improve the resilience of urban facilities, management and space. Specifically, the Opinions propose that by 2027, the construction of new urban infrastructure will make significant progress, and the supporting role for the construction of resilient cities will be continuously enhanced, forming a number of experiences and practices that can be replicated and promoted. In addition, the Opinions also proposes the implementation of intelligent municipal infrastructure construction and transformation, and the digital transformation and upgrading and intelligent management of urban water supply, drainage, power supply, gas, heat, fire hydrants (fire cranes), underground utility tunnel and other municipal infrastructure according to local conditions. We believe that in the process of building a resilient city, the demand for urban infrastructure renewal and construction is expected to continue to grow, and related water and sanitation equipment enterprises are expected to benefit.Haitong Securities: In 2025, the retail sales of home appliances terminals are expected to increase in volume and price. Haitong Securities reported in its research report on December 10th that the effect of the trade-in policy is remarkable. With the active actions of the central and local governments, the trade-in policy of home appliances is expected to continue in 2025. We judge that the retail sales of home appliances terminals are expected to increase in volume and price in 2025, and the domestic sales revenue of leading enterprises is expected to achieve steady growth. The average sales price of home appliances will increase significantly under the impetus of trade-in, and the profit margin of home appliance enterprises can be expected to increase. Under the downward trend of interest rates, the dividend yield of household appliances leading enterprises is still attractive. It is recommended that white and black electricity leading enterprises which have obviously benefited from the trade-in policy and have global competitiveness.Goldman Sachs: I don't agree that gold can't reach $3,000 under a strong dollar. Goldman Sachs said that we don't agree with the view that the price of gold can't rise to $3,000 per ounce by the end of 2025 when the dollar remains strong for a long time. We predict that gold will reach $3,000 per ounce by the end of 2025, and the reduction of interest rate cuts by the Federal Reserve (rather than the strengthening of the US dollar) is the downside risk of this prediction.
Japanese and Korean stock markets opened slightly lower, with the Nikkei 225 index down 0.02% at 39,357.77. South Korea's KOSPI index opened down 0.2% to 2,412.15 points.With the general election approaching, German Chancellor Angela Scholz supports reducing the value-added tax on basic groceries. German Chancellor Angela Scholz said in an interview on the evening of December 10th local time that he was in favor of reducing the value-added tax on basic groceries from 7% to 5% to help low-income families cope with inflation. The center-left leader also said that although the opposition Conservative Party has a big lead in the polls, he is confident of winning the early election on February 23rd.One case of pre-application for residential land in Fengtai District, Beijing, with an initial total price of 4.008 billion yuan. According to official website of Beijing Municipal Planning and Natural Resources Committee, one case of pre-application for residential land in Fengtai District, Beijing, with an initial total price of 4.008 billion yuan. This plot is plot No.056 [2024], namely plot FT00-2404-0005 of the reconstruction project of the cold storage in the southwest suburb of Fengtai District, Beijing, with a land area of 27,422.21 square meters and a planned construction area of 69,104 square meters. The pre-application for this plot will be accepted from December 9, 2024 to January 7, 2025.
Galaxy Securities: Pay attention to investment opportunities in the fields of cement, consumer building materials, glass fiber, etc. The Galaxy Securities Research Report pointed out that 1) Cement: the price continues to push up, and the northern region has entered the winter peak-shifting stage. In November, the weather gradually turned cold, and the downstream market demand dropped slightly. Most provinces in the north have entered the stage of winter peak-shifting and kiln-stopping, and the kiln-stopping rate is above 80%. Under the background of improving supply and demand in the industry, cement enterprises continue to push up cement prices. 2) Consumer building materials: The retail end continued to improve month on month. In October, the retail sales of building and decoration materials decreased by 5.8% year-on-year and increased by 4.9% quarter-on-quarter. Recently, with the stabilization of commercial housing sales, the demand for consumer building materials has improved. 3) Glass fiber: the price of roving rose slightly at the end of the month, and the price of electronic yarn was temporarily stable. In November, the demand for wind power yarn and thermoplastic yarn was stable, but the demand for traditional building materials was still under pressure, which led to the general demand for roving. There are resumption of production and new ignition production lines within the month, and the annual production capacity has increased; Near the end of the month, glass fiber enterprises issued a notice of re-pricing roving and products. It will take some time for the new price to land, but it will have a certain driving effect on demand and price in the short term. 4) Float glass: at the end of the year, work will continue to support the market demand and the inventory of enterprises will be improved. In November, work was rushed to support the demand of float glass terminal, but the middle and lower reaches mainly digested the previous inventory, and the purchasing enthusiasm declined. In the context of the contradiction between supply and demand in the industry, the production capacity has been significantly reduced, and the inventory pressure of float glass enterprises has improved. Suggested attention: Beixin Building Materials, CONCH, China Jushi, etc.Hyundai Motor: Parker will continue to be the CEO of Hyundai Motor's North American business.More than 700 listed companies have announced the replacement of the audit institutions in 2024. According to incomplete statistics, since the beginning of this year, the number of listed companies planning to replace the accounting firms in 2024 has exceeded 700. Among them, the number of listed companies that intend to change accounting firms in October and November is 248 and 200 respectively. Looking back at the "exchange tide", three phenomena stand out: First, in order to improve the quality and ability of capital market intermediaries, the supervision of accounting firms by the regulatory authorities has been significantly enhanced. Based on the principle of prudence, listed companies collectively cancel the contract with the "problem institute"; Second, under the heavy penalty, more and more accountants choose to change their firms to practice, while listed companies choose to change their firms instead of accountants; Third, listed companies employ audit institutions through competitive negotiation, public bidding, invitation bidding, etc. In the bidding process, in order to attract more customers and increase the signing rate, the phenomenon of audit institutions reducing prices has increased. (Securities Daily)
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14