Industrial Securities' investment strategy for the construction industry in 2025: internal and external resonance, optimistic about debt conversion and the "Belt and Road" industry, Industrial Securities Research Report said that the construction industry will face certain pressure in 2024, and it is expected that infrastructure investment will remain high in 2025, driven by the debt conversion policy. Review and prospect of plate market: central state-owned enterprises and design plates led the gains, with obvious excess returns. Main line 1: Debt conversion is expected to drive the improvement of the management quality of construction central enterprises. 1) The driving force and mode of action of this debt conversion can be compared with the "Belt and Road" market in 2014 and the PPP market in 2016, and the policy is driven from top to bottom. 2) The institutions' positions in construction central enterprises are low, and the valuation of construction central enterprises is also in the lower position of the historical center. 3) The unprecedented intensity of debt conversion will help the central enterprises to realize the double promotion of EPS and PE. Main Line 2: The Belt and Road Initiative is expected to accelerate and benefit international engineering enterprises. The "Belt and Road" market has accelerated its expansion, and international engineering enterprises are expected to accelerate their going out to sea, and their performance and valuation have both improved.The New Zealand dollar just broke through the 0.5800 mark against the US dollar, and the latest report was 0.5801, up 0.29% in the day; The Australian dollar just broke through the 0.6400 mark against the US dollar, and the latest report was 0.6401, up 0.51% in the day.CITIC Securities: There is no need to be overly pessimistic about the export of home appliances catalyzed by state subsidies. CITIC Securities Research Report said that domestically, the sales data of white electricity and black electricity continued to improve under the support of state subsidies. Externally, the overall export exposure of home appliance enterprises to the United States is relatively limited, so there is no need to be overly pessimistic. Looking forward to the future, the domestic demand stimulus policy is expected to be further overweight, and it is suggested to focus on white power enterprises that benefit from state subsidies; Optional sectors where domestic demand is expected to reverse (small household appliances, projection).
The governor of the Swiss National Bank once again threatened negative interest rates, saying that it really worked. Martin Schlegel, governor of the Swiss National Bank, said that the bank did not like negative interest rates, but would use them again when necessary to curb speculation in the Swiss franc. Before his speech, the Swiss National Bank unexpectedly cut interest rates by 50 basis points. The new central bank governor once again threatened to re-implement the negative interest rate policy if necessary. "Nobody likes negative interest rates, and neither does the Swiss National Bank," Schlegel told Bloomberg Television in Bern. "Of course, we will also be ready to implement negative interest rates again if necessary. But as we cut interest rates today, the possibility of negative interest rates has been reduced. "Australia's ASX 200 index narrowed to 0.1%, and the Australian dollar increased. The just released Australian employment data was better than expected.French President Macron: Without Europeans, Europe will not be safe.
Kweichow Moutai traded 28,300 shares today, with a turnover of 44,312,100 yuan. Kweichow Moutai traded 28,300 shares today, with a turnover of 44,312,100 yuan, accounting for 0.68% of the total turnover of the day. The transaction price was 15.658 yuan, which was the same as the market closing price of 15.658 yuan.Shijiazhuang, Hebei Province: If you buy a new commodity house, you can withdraw the provident fund under your own name and your spouse's name to pay the down payment. The Housing Provident Fund Management Center of Shijiazhuang, Hebei Province issued the Notice on Withdrawing the Housing Provident Fund to Pay the Down Payment. The depositor of the housing provident fund who purchases a new commodity house within the administrative area of this Municipality can apply for withdrawing the housing provident fund under your own name and your spouse's name to pay the down payment. This notice shall come into force as of December 25, 2024. (澎湃)Li Ziyuan: The plan to reduce the holdings of directors, supervisors and senior managers has not been completed. Li Ziyuan announced the change. On October 1, 2024, the company disclosed the Announcement on the Plan to Reduce the Holdings of Some Directors, Supervisors and Senior Managers of Zhejiang Li Ziyuan Food Co., Ltd. Zhu Wenxiu and other six directors, supervisors and senior managers plan to reduce their holdings by centralized bidding, which does not exceed 1,190,607 shares, and does not exceed 1% of the company's total share capital. As of December 12, 2024, the above-mentioned directors, supervisors and senior managers reduced their holdings of 813,400 shares through centralized bidding. At present, the share reduction plan has not been completed.