[Market Data]

As of the close of November 29, the Shanghai Composite Index rose 0.93% to 3,326.46 points; the Science and Technology Innovation 50 Index rose 2.41% to 1,007.39 points; the Shenzhen Component Index rose 1.72% to 10,611.72 points; and the GEM index rose 2.5% to 2224 points.

The three major U.S. stock indexes collectively closed higher on November 29, with the Dow rising 0.42%, the Nasdaq rising 0.83%, and the S & P 500 rising 0.56%. Both the Dow and the S & P 500 hitting new intraday and closing highs. The Dow rose 7.54% in November and the S & P 500 index rose 5.73% in November, both setting their best monthly performance since November last year. The Nasdaq index rose 6.21% in November.

[Financial News]

1. Data released by the National Bureau of Statistics on November 30 showed that in November, the manufacturing purchasing managers index (PMI) was 50.3%, an increase of 0.2 percentage points from the previous month, rising for three consecutive months, and operating in the expansion range for two consecutive months. The non-manufacturing business activity index was 50.0%, down 0.2 percentage points from the previous month. The comprehensive PMI output index was 50.8%, unchanged from the previous month, indicating that my country's economic prosperity has generally maintained a stable expansion. Zhao Qinghe, senior statistician of the Service Industry Survey Center of the National Bureau of Statistics, said that in November, as a series of stock policies and incremental policies continued to work together, the manufacturing PMI rose in the boom range and the pace of expansion accelerated.

2. According to the Paper News, the central bank continued to protect funds through buyout reverse repo operating tools in November. On November 29, the People's Bank of China issued Announcement [2024] No. 2 on Open Market Buyout Reverse Repo Business. In order to maintain reasonable and sufficient liquidity in the banking system, in November 2024, the People's Bank of China launched an 800 billion yuan buyout reverse repo operation based on fixed quantity, interest rate bidding, and multiple price bids. On the same day, the People's Bank of China issued an announcement on the open market treasury bond trading business, stating that in order to increase counter-cyclical adjustment of monetary policy and maintain reasonable and sufficient liquidity in the banking system, the People's Bank of China launched an open market treasury bond trading operation in November 2024, with a net monthly bond purchase. The face value of bonds is 200 billion yuan.

3. According to the official website of the State Administration of Financial Supervision, recently, Li Yunze, Secretary of the Party Committee and Director of the State Administration of Financial Supervision, presided over a symposium on the high-quality development of large banks to listen to relevant opinions and suggestions. Li Yunze pointed out that large banks are the main force serving the real economy and the ballast stone for maintaining financial stability. It is necessary to actively support high-quality economic and social development, intensify the implementation of a package of incremental policies to stabilize growth, accelerate the expansion and efficiency of the urban real estate financing coordination mechanism, and promote the implementation of the financing coordination working mechanism for small and micro enterprises. It is necessary to build a science and technology financial system that is compatible with scientific and technological innovation, actively promote stable growth of foreign trade, and help implement actions to boost consumption. It is necessary to enhance large banks 'own high-quality development capabilities, continue to strengthen risk management and control, improve asset and liability management, strengthen comprehensive cost management, reasonably grasp the relationship between efficiency, scale, and quality, pay attention to the balance of "quantity, price, and risk", and actively explore a differentiated development model that suits their own characteristics.

4. According to Xinhua Agency, the reporter learned from the Ministry of Industry and Information Technology on December 1 that the Internet account service under the name of the "One Card Universal Check" query has added access to 9 Internet apps, including Today's Headline, Ctrip Travel, Panduo, Hunmo, Iqiyi, Xiaohongshu, Dazhong Dianping, Shell House Finding, and Lianjia. The range of Internet accounts associated with the user's own mobile phone number has been expanded to 25. It is reported that in response to the problems reported by some users that it is difficult to query and unbind the telephone numbers associated with their names, the Ministry of Industry and Information Technology has previously launched the "One-Card-Check" service. Users can check the number of Internet accounts associated with their mobile phone number under their name through the government micro-signal "Gongxin Weibo" of the Ministry of Industry and Information Technology, click the "Service" button, and select "One-Card Check" in "Government Services".

5. According to the Securities Times, on December 1, the 2024 Specialized, Specialized and New Small and Medium-sized Enterprises Development Conference opened in Shanghai. Jin Zhuanglong, Minister of the Ministry of Industry and Information Technology, said at the opening ceremony that my country has cultivated more than 140,000 small and medium-sized enterprises, including 14,600 "little giant" enterprises, specialized and innovative.

6. According to CCTV News, the National Health Commission, the Ministry of Commerce, the State Administration of Traditional Chinese Medicine, and the National Administration for Disease Control and Prevention issued the "Pilot Work Plan for Expanding the Opening of the Field of Wholly-owned Hospitals" on November 29. The "Plan" clearly states that it allows the establishment of wholly foreign-owned hospitals in Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen and Hainan (excluding traditional Chinese medicine, excluding mergers and acquisitions of public hospitals).

7. According to CCTV News, on November 29, the Joint Procurement Office of High-Value Medical Consumables of the State Organization issued the "Document for Centralized Procurement of Cochlear Implant and Peripheral Vascular Stent Medical Consumables with Volume." This centralized procurement will be submitted by the enterprise on December 19, 2024 and bid open on site. The products purchased in this centralized quantity include cochlear implant medical consumables and peripheral vascular stent medical consumables (excluding thoracic aortic stent and abdominal aortic stent).

8. According to the Securities Times, recently, the Shanghai Stock Exchange held a symposium on "Improving Quality and Efficiency and Emphasizing Returns" for Shanghai companies to conduct in-depth discussions on issues such as market value management, improving quality and efficiency. The relevant person in charge of the Shanghai Stock Exchange Company attending the meeting introduced the phased results of the company's special action of "improving quality, efficiency and emphasizing return", and offered suggestions and suggestions on improving relevant measures. At the beginning of this year, the Shanghai Stock Exchange issued an initiative to all Shanghai companies to encourage special actions to "improve quality, efficiency and focus on return". So far, half of the listed companies in Shanghai have disclosed announcements related to "improving quality, efficiency and emphasizing returns", covering a market value of more than 30 trillion yuan. The relevant person in charge of the Shanghai Stock Exchange stated that it will continue to optimize and improve relevant systems and rules, continue to deepen the "three-door" services, and support and guide Shanghai companies in the special action of "improving quality, efficiency and emphasizing return" to be deeper and more practical.

9. According to Xinhua Agency, China Internet Network Information Center released the "Generative Artificial Intelligence Application Development Report (2024)" at the 5th China Internet Basic Resources Conference on November 30. The report shows that as of June 2024, the number of users of generative artificial intelligence products in my country reached 230 million. All walks of life are actively embracing the wave of intelligent upgrades brought by generative artificial intelligence. The report pointed out that my country's generative artificial intelligence industry is booming, with the scale of the industry and the number of products increasing rapidly, and gradually integrating into people's daily lives. my country has initially built a relatively comprehensive artificial intelligence industry system, with more than 4500 related companies, and the core industry scale has reached nearly 600 billion yuan. The industrial chain covers key upstream and downstream links such as chips, algorithms, data, platforms, and applications.

10. According to the Paper, on December 1, the third-party research institution China Index Research Institute released the "Hundred Cities Price Index Report." The report shows that the real estate market has experienced a phased "stabilization". In November, second-hand residential prices in 100 cities broke the seven-month decline in 100 cities. Second-hand housing prices in four cities including Shenzhen and Chengdu stopped falling month-on-month and turned up; the new housing market was affected by the entry of high-quality improvement projects in some cities, and the prices of new residential buildings in 100 cities rose month-on-month.

11. According to the Paper News, on December 1, many new car-building forces announced their monthly results for November as scheduled. Among them, Ideal and Hongmeng Zhixing still ranked first and second, while Zero Run, Xiaopeng and Jikrypton once again hit a new record in sales."Rising star" Xiaomi Automobile once again delivered more than 20,000 vehicles and once again raised its annual sales target.

[New Share Subscription]

According to the issuance schedule, there are 2 new shares subscribed this week.

Monday, Pioneer Jingke, 688605.SH

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