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The retail sector continued its upward trend of Zhongbai Group for 10 days and 7 boards, and the retail sector continued its upward trend. Zhongbai Group for 10 days and 7 boards, Maoye Commercial and Actually Zhijia had daily limit, and Guangbai shares, Dashang shares, Central Shopping Mall and Hongqi Chain opened higher collectively.Guosheng Securities: AEC heavy-duty computing industry chain has entered the era of Lian Heng. Guosheng Securities Research Report pointed out that AEC(Active Electrical Cable) is an active cable interconnection scheme, which is mainly used in short-distance high-speed data transmission scenarios in data centers. 1)AEC is expected to become the first step for optical module manufacturers to penetrate downwards. Optical modules need to master photoelectric conversion and high-speed data communication, and DAC/AEC/AOC products have relatively mature technical requirements compared with single-mode/multimode optical module products with longer transmission distance. 2) Copper interconnection is widely used by large CSP not only in NVIDIA. NVIDIA used a large number of high-density copper interconnects in B series products, which made the industry re-recognize the reliability and price advantage of copper interconnects in short-distance scenes. 3) In the era of Lian Heng, domestic manufacturers still have obvious advantages. Chip manufacturers, represented by NVIDIA, have been hoping to conduct a comprehensive industry consolidation and provide customers with a complete set of solutions. What CSP manufacturers want more is the decoupling of the industrial chain, and every link such as GPU, copper connection, optical module and switch can find corresponding suppliers. The heavy volume of AEC and the rise of CSP manufacturer's independent scheme indicate that the computing power industry chain has entered the era of Lian Heng, and we are firmly optimistic about the domestic related computing power industry chain.The retail sector continued its upward trend of Zhongbai Group for 10 days and 7 boards, and the retail sector continued its upward trend. Zhongbai Group for 10 days and 7 boards, Maoye Commercial and Actually Zhijia had daily limit, and Guangbai shares, Dashang shares, Central Shopping Mall and Hongqi Chain opened higher collectively.

Guojin Securities: The warm wind of medical policy comes first, then the progress of innovation going out to sea, and then the opportunity of performance reversal. Guojin Securities Research Report said that the core investment opportunities in the pharmaceutical sector in 25 years will revolve around three logics: 1) innovation going out to sea; 2) demand recovery; 3) Policy expectation reversal. At present, the policy warm wind comes first (the medical track policy continues to warm up, and the overall industry expectation is expected to be optimistic); Then, R&D and innovation will go to sea (innovative drug track will continue to make progress, and it will still be the hottest track in the pharmaceutical sector in 2025, especially it is recommended to pay attention to the clinical data reading and commercialization progress of the first-line target, as well as the fluctuation opportunity of the expected difference of the second-line innovative drugs), and then the performance growth rate is expected to bottom out in the first half of 2025 (but it will take time for this improvement in performance growth rate to come. Considering the current industry communication and historical base, it is expected that 4Q24 and 1Q25 should still be cautiously optimistic.)Guojin Securities: The warm wind of medical policy comes first, then the progress of innovation going out to sea, and then the opportunity of performance reversal. Guojin Securities Research Report said that the core investment opportunities in the pharmaceutical sector in 25 years will revolve around three logics: 1) innovation going out to sea; 2) demand recovery; 3) Policy expectation reversal. At present, the policy warm wind comes first (the medical track policy continues to warm up, and the overall industry expectation is expected to be optimistic); Then, R&D and innovation will go to sea (innovative drug track will continue to make progress, and it will still be the hottest track in the pharmaceutical sector in 2025, especially it is recommended to pay attention to the clinical data reading and commercialization progress of the first-line target, as well as the fluctuation opportunity of the expected difference of the second-line innovative drugs), and then the performance growth rate is expected to bottom out in the first half of 2025 (but it will take time for this improvement in performance growth rate to come. Considering the current industry communication and historical base, it is expected that 4Q24 and 1Q25 should still be cautiously optimistic.)Black Myth: Wukong won the best action game of the year by TGA.

Kangxinuo said on the interactive platform that the company is promoting the research and development of a variety of innovative vaccines, submitting applications for related matters in accordance with the guiding principles of CDE, and actively communicating and reporting.Treasury bond futures opened, with 30-year main contracts rising by 0.48%, 10-year main contracts rising by 0.36%, 5-year main contracts rising by 0.25% and 2-year main contracts rising by 0.05%.Look at the picture: The increased confidence of Japan's large-scale manufacturing industry indicates that the economic development is in line with the Bank of Japan's forecast. Before the Bank of Japan's policy meeting next week, the confidence of Japan's large-scale manufacturing industry has increased. According to the quarterly short-term report released by the Bank of Japan on Friday, the short-term survey index of Japan's large manufacturing industry rose slightly to 14 in December, with an estimated 13. The short-term survey index of large non-manufacturing industry decreased slightly from 34 to 33. Small businesses' confidence in manufacturing and service industries has also improved, although the outlook has slightly weakened or remained unchanged. The short-term report has attracted the attention of the Bank of Japan and is the last batch of major domestic data that will be carefully studied before the interest rate decision on December 19. This result shows that Japan's economic development is in line with the forecast of the Bank of Japan and is a condition for further interest rate hike. Compared with December, economists are more inclined to expect the Bank of Japan to take action in January next year, but still believe that the risk of raising interest rates next week is high.