2025.12.16

1. External Market

Overnight, the three major U.S. stock indices collectively fell, with the Dow down 0.09%, the S&P 500 down 0.16%, and the Nasdaq down 0.59%. The automotive manufacturing, precious metals, tourism, and weight-loss drug sectors rose. Large technology stocks had mixed performance, with Tesla up 3.56%, Nvidia up 0.73%, Amazon down 1.61%, and Apple down 1.50%.

The A50 index opened flat, with popular Chinese concept stocks generally declining.

2. Market Analysis

Yesterday, the market opened lower and then rebounded before closing lower, with the day's low reported. Among them, technology and lithium mining stocks fell significantly, while retail, food and beverage, and other consumption sectors rebounded against the trend, and the insurance sector surged. The market had a total turnover of 1.7944 trillion, with a reduction of over 200 billion; the ratio of rising to falling stocks was 2314:2968.

The daily structure of the market remains in a range-bound fluctuation phase, but the external market dragging down and the pessimistic expectations from the C-wave adjustment have affected short-term sentiment, which is the main reason for the market's rebound and subsequent fall.

Currently, focusing on indices versus individual stocks is key. Observant friends should have noticed the acceleration in recent capital shifts between high and low stocks:

High-level group performance: CPO accelerated to the peak and then oscillated with divergence; lithium mining groups have seen continuous adjustments over the past four weeks.

Low-level rebound performance: Retail, food, beverage, and other consumption sectors have repeatedly led the gains, with frequent movements in brokerage and insurance sectors.

Of course, capital shifts between high and low stocks are a gradual process, and their effects are hard to see immediately. Some low-level stocks have already rebounded from oversold conditions, while others have yet to show improvement. However, over time, rotation will cover them.

3. Hot Topics

National Bureau of Statistics: In November, the actual growth of industrial added value above designated size increased by 4.8% year-on-year and by 0.44% month-on-month. From January to November, the year-on-year growth of industrial added value above designated size was 6.0%.

Qiushi Magazine: An important article titled "Expanding Domestic Demand is a Strategic Move" was published on December 16. It emphasizes the need to accelerate the filling of domestic demand, especially the consumption shortfall, making domestic demand the main driving force and stabilizing anchor for economic growth.

Consumption: Zhongrui Co., Huangshi Group, Sunshine Dairy, Baida Group

Autonomous Driving:

1. On the 15th, the Ministry of Industry and Information Technology officially announced the first batch of L3 conditional autonomous vehicle access permits in China. Two models, suitable for urban congestion and highway conditions, will conduct road trials in designated areas of Beijing and Chongqing, marking a key step from testing to commercial application for L3 autonomous driving in China. The two models announced are a Changan SC7000AAARBEV pure electric sedan and a ZhiHu BJ7001A61NBEV pure electric sedan.

2. Musk revealed last week at an event that Tesla's Robotaxi will eliminate safety personnel within three weeks, achieving true unmanned passenger transport.

Complete Vehicles: BAIC Blue Valley, Changan Automobile

Autonomous Driving: Zhejiang Shibao, Haon Automotive, Suoling Co., Wanjitech, Desay SV, Ruima Precision

Tesla + Autonomous Driving: Yitong Century, Zhonghaida

National Energy Work Conference: Emphasized forward-looking layout in hydrogen energy, nuclear energy, and other future energy industries; actively and safely develop nuclear power; and add over 200 million kilowatts of wind and solar power generation capacity throughout the year.

Hydrogen Energy: Snowman Group, Shenghui Technology, Beijing City Shares, Houpu Shares

Nuclear Energy: Antai Technology, China Nuclear Engineering, Zhongzhou Special Materials, Haohan Huadong

Muxi Co.: The stock will be listed on the STAR Market on December 17.

Muxi Co.: Chaoxun Communications, Zhongshan Public Utilities, Seven Wolves, Zhongke Languang.