[Important Data] [Zhitong Views] 1. As of the close of the market overnight, the Dow Jones Index rose 337.76 points, or 1.13%, to 30199.31 points; the S&P 500 rose 47.13 points, or 1.29%, to 3694.62 points; the Nasdaq Comprehensive Index rose 155.02 points, or 1.25%, to 12595.06

[Important Data]

[Zhitong Views]

1, overnight US stock As of the close, the Dow Jones Index rose 337.76 points, or 1.13%, to 30199.31 points; the S&P 500 index rose 47.13 points, or 1.29%, to 3694.62 points; the Nasdaq Comprehensive Index rose 155.02 points, or 1.25%, to 12595.06 points. The Hong Kong stock ADR index followed the rise and closed at 26,359 points, up 151.55 points or 0.57%.

2, US clean energy stocks and ETF collectively rose sharply, while Jinko Energy rose by more than 17.78%. Among solar energy stocks, SunPower rose 17.8%, Chinese stocks listed as Jinko Energy rose 16%, Enphase Energy and Artes Solar Energy rose 10%, and SolarEdge Technology rose 6%. Solar ETF-Guggenheim (TAN) rose 8%, S&P Kensho Clean Energy ETF-SPDR (CNRG) rose more than 7%, and global clean energy ETF-iShares (ICLN) rose more than 4%. Some analysts believe that the strongest logic of photovoltaics in 2021 has emerged, not glass (it will no longer be scarce in the second half of the year, but silicon material (currently more than 70% of the production capacity has been locked in long orders, and everyone in the downstream knows it). Continue to pay attention to the strong share price of Hong Kong stock Poly GCL Energy (03800).

3. Wedbush quoted Nikkei Asia's report on production, saying that Apple's iPhone 6 12 mobile phone demand is strong. Apple's stock price hit its biggest single-day intraday gain in more than a month, closing up 5.01%, hitting its highest level since September. According to the report, Apple plans to produce up to 96 million iPhones in the first half of 2021, a year-on-year increase of 30%. Wedbush analyst Danie lIves wrote that the 96 million figure is far beyond the Wall Street expectations. Pay attention to the fluctuations in the stock price of Gaowei Electronics (01415), AAC Technology (02018), Sunny Optics (02382) in the Apple mobile phone industry chain.

4. On Tuesday, the People's Bank of China operated 950 billion yuan (RMB) MLF. On the 6th and 16th of this month, there were 300 billion yuan of MLF maturity respectively, and the MLF excess resumption totaled 350 billion yuan. Starting from August this year, the central bank has significantly increased the scale of MLF injection. It was previously to deal with the needs of special treasury bonds and special bond issuance, and recently to deal with the risks of credit bonds and the need for banks to reduce off-balance sheet size by the end of the year. The excessive sequel also reflects the central bank's intention to maintain market stability.

5, Baltic dry bulk cargo freight index rose to its high since early November on Tuesday as all ship freight indexes rose. The Baltic dry bulk index rose 38 points, or 3%, to 1273 points, the high since November 2. The capesized ship freight index hits a high since November 11. The Panamax ship freight index hits a high of more than three months. The freight index of super flexible ships rose 8 points to 1046 points, the highest since the end of October 2019. Continue to pay attention to the stock price trends of the shipping sectors such as COSCO Shipping International (00517), COSCO Shipping Port (01199), COSCO Shipping Control (01919), Shengshi Container (00716), and COSCO Shipping (02866).

6, SMIC (00981): Jiang Shangyi was appointed as the company's vice chairman; the company is carefully evaluating civil complaints in the US California court. Amid the global chip products price increases, the stock's own problems need to be solved urgently. Pay attention to the recent fluctuations in the stock price.

7. According to CCTV News on December 14, the 2020 National Medical Insurance Drug Catalog Access negotiation was launched in Beijing. The negotiation lasts for three days and involves drug varieties such as cancer, mental illness, eye diseases, and pediatrics. According to reports, the decline in the varieties that were successfully negotiated did not exceed 50%, and the price reduction was lower than in 2019, and the rebound of pharmaceutical stocks was also affected by this news. However, Hong Kong pharmaceutical stocks can only be regarded as rebounding. Most of their generic pharmaceutical companies have a long-term trend that requires time to verify.

8. Baichuan Yingfu data shows that the domestic electrolytic manganese market price continued to rise yesterday. The spot tax-inclusive ex-factory price in the mainstream areas of the manganese triangle was concentrated between 12,700-13,000 yuan/ton. Today, the receipt price of a large factory in Ningxia increased by 500 yuan/ton again, but the increase in the spot price of the market slowed down slightly, mainly because the manganese price has increased rapidly recently, and the downstream terminals are hesitant to accept orders, and the actual high-price transactions in the market are relatively small. Pay attention to the fluctuations in the stock prices of small metal sectors such as CITIC Damanganese (01091).

9. Market news says that Indonesian said that Ningde era will invest US$5 billion in local lithium battery factories.At the same time, Taizhou Hongwei Lithium Co., Ltd. issued a price adjustment letter, deciding that from January 1, 2021, the price of battery-grade metal lithium will be increased from the original 430,000 yuan/ton to 500,000 yuan/ton; and industrial-grade metal lithium will be adjusted to 460,000 yuan/ton. Continue to pay attention to the stock price trend of Ganfeng Lithium (01772) upstream industrial chain in new energy vehicles.

10, the new stock Blue Moon Group (06993) was listed today, closing up 16.41% yesterday, earning HK$1,080 per lot; Yunxiang Technology (02131) issued an announcement to issue 200 million shares, and the issue price has been determined to be HK$66.98 per share of shares, and the net proceeds are estimated to be approximately HK$1.293 billion. With 1,000 shares per lot, it is expected that the shares will start trading on December 17, 2020; Oceanwide Group (03377) issued an announcement regarding the proposal to split the shares of Oceanwide Services (06677) and the final offer price of Oceanwide Services Co., Ltd. is HK$5.88 per share. It is expected that Oceanwide Services will be listed on the main board of the Stock Exchange on December 17, 2020, with 500 shares per lot.

11. The latest data released by the National Bureau of Statistics on December 15 showed that in November, the cumulative growth rate of multiple indicators such as real estate development investment, sales, and in-appropriate funds rebounded for nine consecutive months. Among them, development investment grew positively for six consecutive months, sales volume grew positively for four consecutive months, sales area grew positively for the first time, and real estate companies grew positively for five consecutive months. Industry insiders predict that more real estate companies will launch promotions in the last month of the year, and the annual new home transaction scale will hit a record high. Many indicators of the national real estate industry will continue to improve, achieving the goal of stable and healthy development. Pay attention to the lack of dominant real estate stocks and can only be regarded as rebounding.

[Company News]

Blue Moon Group (06993) was subscribed for 301.33 times for public offering. The offer price per share is HK$13.16

Pop Mart (09992) fully exercised over-allotment equity involving 20.3572 million shares

Ruili Medical Beauty (02135) from December 15 to December 18th. 342.5 million shares of

Dian Energy Power (00819) were approved by the China Securities Regulatory Commission and recommended that the battery sector business be split on the Science and Technology Innovation Board

QuanTi Technology (01478) intends to split KunshanQuanTi China independently listed in mainland China

Timension (02399) intends to issue up to 434 million shares of the consideration to acquire Changyou Automobile e-commerce online platform

BC Technology Group (00863) affiliated with the China Securities Regulatory Commission granted a license to operate a virtual asset trading platform

Mengniu Dairy (02319) affiliated with the plan to acquire the equity of Shanghai Miaoke Landuo

Yanzhou Coal Mining Co., Ltd. (01171) signed a "Delivery Confirmation" for the acquisition of the controlling shareholder's coal chemical sector business

Junzhi Group (01300) won the bid for China Telecom Outdoor Optical Cable (2020) centralized procurement project Bidding quotation of 2.372 billion

Green Leaf Pharmaceutical (02186): Dishumab injection started clinical comparison trial in China (Phase III)

Liankang Biotechnology Group (00690) antidiabetic drug Acarbose tablets have been approved for marketing and started production on December 10

Minimally Invasive Medical (00853) and Otsuka entered into a distribution framework agreement to distribute the group's medical device products

Maple Leaf Education (01317): The group headquarters will be relocated to Shenzhen

Maple Leaf Education (01317): The group headquarters will be relocated to Shenzhen

Ali Health (00241) grants 1.96695 million restricted stock units according to the share reward plan

Shanghai Pharmaceutical (02607) plans to grant 28 incentive targets 2.73 million reserved stock options

Huabao International (00336) affiliated with Boyuan signed a framework agreement to provide Boyuan with related raw materials and related services for tobacco

New World Development (00017) on December 15, spending 26.3376 million Hong Kong Yuan repurchase 712,000 shares

Angang Co., Ltd. (00347) spent 15.4672 million yuan on December 15 to repurchase 5.0038 million shares of A shares

IGG (00799) on December 15 to repurchase 14.9888 million Hong Kong dollars on December 15 to repurchase 2 million shares

China Want Want (00151) on December 15 to repurchase 1 million shares of

Digital Telecom (00315) on December 15 to repurchase 2.5305 million Hong Kong dollars on December 15 to repurchase 600,000 shares of

Baiao Family Interactive (021 00) On December 15, it spent HK$1.502 million to repurchase 1.5 million shares of

Shandong Gold (01787) On December 15, it repurchased and cancelled 25.5095 million shares of A-shares

Tianjin Port Development (03382): The affiliated plan to acquire 49% of Haifeng Logistics for 234 million yuan

Tianjin Port Development (03382) The affiliated candidate plans to purchase 239 million yuan garage for the first phase of Tianjin Port Container Logistics Center yard

Hong Kong Yisi Medical Group (02138) plans to acquire 97% of the equity of Haifeng Medical Laboratory Further improve medical and health care services

Shuifa Xingye Energy (00750) spent a total of 39.9 million yuan to acquire 51% equity of Jiangxi Yaxing Construction

China Jinmao (00817) affiliated to sell Changzhou Longmao 45% equity

[Financial report data]

Xinyi Solar Energy (00968) expects the comprehensive net profit attributable to equity holders in 2020 to increase by 75% to 95% year-on-year

China MCC (01618) to increase by 894.25 billion yuan in the first 11 months, a year-on-year increase of 36.2%

Floating glass business sales Xinyi Glass (00868) expects annual net profit to increase by 20% year-on-year to 35%

China Coal Energy (01898) Commercial coal sales in November increased by 12.2% year-on-year to 24.69 million tons

China Resources Electric Power (00836) cumulative electricity sales of auxiliary power plants in the first 11 months reached about 137 million megawatt hours, an increase of 2.6% year-on-year

China Southern Airlines Co., Ltd. (01055) passenger capacity investment in November decreased by 21.36%

Air China (00753) passenger turnover in November decreased by 38.5% year-on-year Cargo and mail turnover increased by 3.3% year-on-year

China Eastern Airlines Co., Ltd. (00670) passenger turnover in November decreased by 42.05% year-on-year

[Macro and Industry]

1. Bureau of Statistics: In November, the added value of industrial enterprises above designated size increased by 7.0% year-on-year, a growth rate of 0.1 percentage point faster than the previous month; the total retail sales of consumer goods was 3951.4 billion yuan, a year-on-year increase of 5.0%; from January to November, the national fixed asset investment was 49956 billion yuan, a year-on-year increase of 2.6%, a growth rate of 0.8 percentage points higher than January to October; the national urban surveyed unemployment rate was 5.2%, a decrease of 0.1 percentage point from the previous month.

2. Ministry of Commerce: In November, the actual use of foreign capital nationwide was 98.7 billion yuan, a year-on-year increase of 5.5%, achieving year-on-year growth for eight consecutive months. From January to November, the actual use of foreign capital nationwide was 899.38 billion yuan, an increase of 6.3% year-on-year, continuing the steady and positive trend since the second half of the year. By industry, the service industry actually used foreign capital to be 704.46 billion yuan, an increase of 16.1% year-on-year, accounting for 78.3% of the country's actual foreign capital; the high-tech service industry increased by 31.6% year-on-year.

3. Institute of Information and Communications Technology: It is estimated that 5G will directly drive the total economic output by 810.9 billion yuan in 2020 and directly drive the added value of the economy by 189.7 billion yuan. It is expected that in the next 2-3 years, my country's 5G network construction will gradually achieve wide-area coverage. Consumer-grade innovative applications with 5G characteristics may grow in scale from 2022 to 2023. Industry applications will still be in the introduction period and will be gradually put into commercial use in batches.

4. Bureau of Statistics: In November, the industrial power generation above designated size was 641.9 billion kWh, an increase of 6.8% year-on-year, a growth rate of 2.2 percentage points faster than the previous month; the average daily power generation was 21.4 billion kWh, an increase of 1.74 billion kWh month-on-month. By variety, the growth rate of thermal power has turned from negative to positive, the growth rate of hydropower, wind power and solar power generation has declined, and the decline in nuclear power has slightly expanded. From January to November, the power generation was 668.24 billion kWh, an increase of 2.0% year-on-year.

5. On December 14, the Shanghai and Shenzhen Stock Exchanges solicited public opinions on the new delisting rules. This means that the long-standing trend of "small speculation", "small speculation" and "small speculation" in the domestic stock market will be further alleviated with the introduction of new delisting regulations. Statistics show that since 1999 to December 14, 2020, there were only 125 listed companies delisting in A-shares, and the average delisting rate of A-shares is only 0.36%, which still has a lot of room for improvement compared to the 6% delisting rate of the US stock market since 2011.

6. Recently, the Ministry of Commerce and the Ministry of Public Security jointly issued a notice to further expand the regional scope of second-hand car export business and add 20 pilot cities for second-hand car exports across the country. "Although second-hand car exports cannot form a scale in a short period of time and it is difficult to bring considerable profits, in the long run, this is very beneficial to expanding the influence of the brand. From an industry perspective, accelerating the circulation of used cars is also beneficial to the activity of the new car market." An insider from a car company said that my country's car ownership has grown rapidly, and the export of new cars has been relatively mature, so it is very necessary to promote the acceleration of the circulation and export of used cars. It is reported that in the future, the Ministry of Commerce will work with relevant departments to establish and improve the second-hand car export management and promotion system, and strive to enhance China's automobile international competitiveness.

7. Recently, 75 major projects were signed in batches, which is also the fifth batch of major projects to be implemented in Hainan this year. At the same time, the " zero tariff " system arrangement of Hainan Free Trade Port is accelerated. It is reported that after the release of the list of "zero tariffs" for raw and auxiliary materials, three lists of "zero tariffs" for enterprises' own production equipment, operating means of transportation, and "zero tariffs" for consumer goods on the island are also about to be released. In addition, the list of cross-border service trade in Hainan Free Trade Port is also about to come out.

[Major shareholders increase and decrease their holdings]

On December 9, shareholder Jiang Jinzhi increased his holdings of Beijing Capital Airport shares (00694) by 6.79 million shares, with a price of HK$6.7688 per share, with a total amount of approximately HK$45.9602 million. After the increase, the latest holds shares to 94.776 million shares, and the latest stake ratio is 5.04%.

On December 9, JPMorgan Chase reduced its holdings of Poly Property (06049) by approximately 135,800 shares, with a price of HK$53.37 per share, with a total amount of approximately HK$7.247,600. After the reduction, the latest number of shares held is approximately 7.5531 million shares, and the latest shareholding ratio is 4.92%.

On December 9, BlackRock increased its holdings in China Railway (00390) by approximately 2.7764 million shares, with a price of HK$35,831 per share, with a total amount of approximately HK$9.9481 million. After the increase, the latest number of shares held is approximately 212 million shares, and the latest shareholding ratio is 5.05%.

On December 9, Schroders Plc increased its holdings in Weichai Power (02338) by 1.694 million shares, with a price of HK$153,425 per share, with a total amount of approximately HK$25.9902 million. After the increase in holdings, the latest number of shares held is approximately 137 million shares, and the latest shareholding ratio is 7.04%.

On December 10, non-executive director Liu Yonghao increased his holdings in Minsheng Bank (01988) by 6.0705 million shares, with a price of HK$43,085 per share, with a total amount of approximately HK$26.1547 million. After the increase, the latest number of shares held is approximately 211 million shares, and the latest shareholding ratio is 2.53%.

On December 11, Executive Director Xie Bing increased his holdings in China Biopharma (01177) by 15 million shares, with a price of HK$67,252 per share, with a total amount of approximately HK$101 million. After the increase in holdings, the latest number of shares held is approximately 1.585 billion shares, and the latest shareholding ratio is 8.40%.

[Big Bank Rating]

Everbright Securities : Maintain Tencent (00700) "buy" rating, target price 700 HK$.

Credit Suisse: Ping An (02318) has a strong pre-sale momentum of "good start" with a target price of HK$110.

Macquarie: Upgrades Geely Auto (00175) target price by 95.9% to HK$28.4, and the rating is upgraded to "outperform the market".

Bank of America Securities: Reaffirm Xiabu Xiabu (00520) "Buy" rating, target price increased by 100.9% to HK$22.1.

UBS: Upgrade Shenzhou International (02313) target price by 47.4% to HK$140, with a rating of "neutral".

[Trading Alarm]

Pricing date: Wenling Working cutting tool (01379).

in the IPO: Ruili Medical Beauty (02135), Huisen Home Furnishing (02127).

Listing date: Blue Moon Group (06993).

Performance announcement: Global Strategy Group (08007), Haixin Group (01850).