CITIC Securities: Short-term white horse style may be dominated by stages due to compensatory growth and repair. CITIC Securities Research Report pointed out that looking forward to 2025, we expect that the market style will gradually switch from individual investors to institutional investors, and ETF will become an important configuration tool. We believe that the construction of ETF portfolio should mainly depend on the judgment of style rotation and timing. We believe that in the short term, Politburo meeting of the Chinese Communist Party and the Central Economic Work Conference will once again confirm the policy inflection point, which is expected to boost institutional investors' risk appetite, and the white horse style may prevail in stages due to compensatory growth and repair. However, in the large-cycle environment, it is still unable to meet the conditions for the continued dominance of white horse stocks, and it is necessary to continue to observe the price signals and policies.CITIC Securities: Short-term white horse style may be dominated by stages due to compensatory growth and repair. CITIC Securities Research Report pointed out that looking forward to 2025, we expect that the market style will gradually switch from individual investors to institutional investors, and ETF will become an important configuration tool. We believe that the construction of ETF portfolio should mainly depend on the judgment of style rotation and timing. We believe that in the short term, Politburo meeting of the Chinese Communist Party and the Central Economic Work Conference will once again confirm the policy inflection point, which is expected to boost institutional investors' risk appetite, and the white horse style may prevail in stages due to compensatory growth and repair. However, in the large-cycle environment, it is still unable to meet the conditions for the continued dominance of white horse stocks, and it is necessary to continue to observe the price signals and policies.Britain's GFK consumer confidence index was negative 17 in December, the highest since August, and negative 18 in November. The survey estimated that it was negative 18.
Guotai Junan: It is suggested that the beauty care sector with product and channel changes and flexibility should be optimized from the bottom up. Guotai Junan said that after the pressure of consumption in 2022 and the destocking of consumers in 2023, the beauty consumption will return to the normal purchase cycle in 2024, and the industry prosperity will improve month-on-month, and the double-digit growth of online beauty will be achieved. However, after the channel dividend subsided, the platform traffic and price competition became fierce, and the brand differentiation further intensified. Relying on the product innovation and channel operation ability brought by organizational efficiency, the performance of domestic products in the head is still bright, and the rise of new domestic products has spread from beauty cosmetics to personal care. Looking forward to 2025, the market risk appetite will be significantly restored. Because of its many changes and the rising trend of domestic products as a whole, the American nursing sector has obvious growth attributes and significantly benefited from its style. Brand differentiation in the fundamental dimension has intensified, and it is suggested that the flexible target with product and channel changes should be optimized from bottom to top.The Henan provincial government and Shenzhen Stock Exchange signed a strategic cooperation agreement. According to the news of Henan government network, on December 12, the Henan provincial government and Shenzhen Stock Exchange signed a strategic cooperation agreement in Zhengzhou, and reached a cooperation intention on jointly promoting capital market construction and promoting local economic development. The two sides will adhere to the principles of complementary advantages, resource sharing, project traction, innovation and win-win, and establish an all-round, multi-level, long-term stable, cooperative and mutually beneficial strategic cooperative relationship; Focusing on the implementation of major national strategies and the key industrial chain groups cultivated in Henan Province, we will intensify the cultivation and promote more high-quality enterprises to go public; Give full play to the role of industry-finance service platform and further broaden financing channels; Establish an all-round communication mechanism, strengthen information sharing and work coordination, and jointly create a good environment for the development of the capital market.Market news: Trump's advisers seek to reduce or cancel banking regulators.
CITIC Securities: Short-term white horse style may be dominated by stages due to compensatory growth and repair. CITIC Securities Research Report pointed out that looking forward to 2025, we expect that the market style will gradually switch from individual investors to institutional investors, and ETF will become an important configuration tool. We believe that the construction of ETF portfolio should mainly depend on the judgment of style rotation and timing. We believe that in the short term, Politburo meeting of the Chinese Communist Party and the Central Economic Work Conference will once again confirm the policy inflection point, which is expected to boost institutional investors' risk appetite, and the white horse style may prevail in stages due to compensatory growth and repair. However, in the large-cycle environment, it is still unable to meet the conditions for the continued dominance of white horse stocks, and it is necessary to continue to observe the price signals and policies.Xiaomi Automobile is speeding up its voyage to sea, and will carry out automobile sales business in many regions. According to 36Kr, it is learned from many sources that Xiaomi is preparing to build automobile voyage business. Under the international department of the Group, Xiaomi has added a preparatory group for overseas sales business, and positions such as market research, project management and after-sales engineer of electric vehicles are being recruited. Under the Ministry of Automobile, Xiaomi's autonomous driving department has added a number of jobs for overseas markets to solve the problem of overseas legal verification and function landing of autonomous driving function. It is foreseeable that autonomous driving will be one of the key points of Xiaomi Automobile's betting on the sea. According to people familiar with the matter, after the formation of the team, Xiaomi will carry out small-batch car sales in many overseas regions, test the market reaction, and prepare for the large-scale development of sea business.Russian Intelligence Agency: NATO is worried about Russia's statement about the western participation in the attack on Russia. The Russian Foreign Intelligence Agency issued a statement on the 12th local time, saying that according to the information obtained by the bureau, NATO headquarters is extremely worried about Russia's statement that the United States, Britain and France are directly involved in using western long-range weapons to attack deep areas of Russia. NATO legal experts worry that Russia may accuse western countries of armed aggression against Russia.
Strategy guide 12-13
Strategy guide 12-13