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Pacific Securities: The historical low of the valuation office of liquor industry is about to be repaired. The Pacific Securities Research Report pointed out that the liquor industry is rationally slowing down, and the valuation office is at a historical low, and it is about to be repaired. Next year, the leading growth target will generally drop to single digits. However, the accumulated inventory risk and pricing pressure still need time to gradually ease after the imbalance between supply and demand has intensified in the past two years and the previous industry bubble has receded. With the economic recovery stimulated by this round of policies and the stabilization of the bottom of the real estate industry, the liquor industry is expected to usher in a wave of recovery. Since 2023, industry differentiation has intensified, but with the improvement of management level and refined channel operation in recent years, excellent wine enterprises have stronger marketing foundation and anti-risk ability compared with previous downward cycles. The price of high-end wine determines the brand position, so the approval price is more important, which depends on the choice of quantity and price and the control of approval price by wine enterprises. Sub-high-end needs to pay more attention to channel risks. The high growth brought by pre-distribution investment needs to be tested in the downward period, and once the channel collapses and stalls, it is difficult to reverse it. Real estate wine pays attention to the growth momentum of internal product structure and the market potential in and around the province. The upgrading speed determines the slope and the ceiling determines the space. Suggested attention: Wuliangye, LU ZHOU LAO JIAO CO.,LTD, Shuijingfang, etc.Everbright Securities: Support the innovative development of new business entities in the power sector. Everbright Securities Research Report stated that the National Energy Administration issued the Guiding Opinions on Supporting the Innovative Development of New Business Entities in the Power Sector to guide the innovative development of new technologies, new models and new formats in the power sector: encourage virtual power plants to aggregate distributed photovoltaic, decentralized wind power, new energy storage, adjustable load and other resources to provide flexible adjustment capabilities for the power system; Support qualified industrial enterprises and industrial parks to carry out smart microgrid construction; Support to participate in the electricity market, in order to release more accurate node price signals; In principle, new business entities can be exempted from applying for power business licenses.Wuliangye Group signed a memorandum of cooperation with Gan Lu Wine Group of Chile, and on December 5th, Wuliangye Group signed a memorandum of cooperation with Gan Lu Wine Group of Chile. Chile Gan Lu Wine Group is the largest wine production group in South America, with its brand footprints in Chile, Argentina and the United States, and its sales covering 147 countries and regions around the world. This signing indicates that Wuliangye and Gan Lu Wine Group of Chile have further established a long-term and stable partnership.

South Korea's Ministry of Finance said in a joint statement that South Korea will actively respond and reverse market sentiment.Japan's M2 money stock increased by 1.2% and M3 by 0.7% in November.In October, China's corporate credit index was 158.83 points, and the trend of steady improvement continued to consolidate. The General Administration of Market Supervision announced today (10th) that in October, 2024, China's corporate credit index was 158.83 points, up 0.47 points from September, and the steady improvement of corporate credit level continued to consolidate. Regionally, the top five provinces and cities in the credit index are Beijing, Anhui, Jiangsu, Zhejiang and Shaanxi. From the perspective of industry, the index of accommodation and catering industry increased the most. In addition, the ranking of scientific research and technical service industry index has improved significantly, and it entered the top 5 of the index for the first time this year. The ranking of leasing and business services rose by two places, reaching a new high this year.

Many countries condemned Israel's control of the Syrian-Israeli military buffer zone in the Golan Heights, and Israeli troops invaded the Syrian-Israeli military buffer zone in the Golan Heights on the 8th. On the 9th, Israeli Defense Minister Katz ordered the Israeli army to fully control the buffer zone between Israel and Syria. The Israeli army's actions have been strongly condemned by Qatar, Iraq and other governments. On the 9th, the Ministry of Foreign Affairs of Qatar issued a statement strongly condemning the control of the Syrian post in the Golan Heights by the Israel Defense Forces. On the same day, the Iraqi Foreign Ministry issued a statement condemning Israel's control of the military buffer zone and the nearby land between it and Syria, and stressed that this act was a flagrant violation of international law and relevant resolutions of international legitimacy. In addition, the foreign ministries of Egypt and Jordan also issued statements on the same day, strongly condemning Israel's aggression, saying that it violated international law. The statement also called on the UN Security Council to take a firm stand against Israel's occupation.China Xinbao signed a strategic cooperation agreement with the Henan provincial government, and "Henan released" the news of WeChat official account on December 10th. Recently, China Export Credit Insurance Corporation and the Henan provincial people's government signed a strategic cooperation agreement to promote a higher level of opening up in the new era. According to the strategic cooperation agreement, China Xinbao and the Henan Provincial People's Government will give full play to their respective advantages, continuously expand and deepen multi-field and multi-level cooperation in the field of opening up, take various measures to stabilize foreign trade, consolidate traditional markets and expand emerging markets; Actively cultivate and expand foreign trade entities and improve the level of digital trade empowerment and financing facilitation; Expand the new kinetic energy of foreign trade development and create new advantages of cross-border trade hub services in central China; Strengthen the chain stabilization of key industrial chains and actively implement the strategy of "going out"; Deepen the construction of Henan's "Belt and Road" platform mechanism, build an overseas risk prevention and control system, jointly promote the high-quality development of Henan's foreign trade and economic cooperation, and promote Henan's high-level opening up.South Korean opposition leader Li Zaiming said that the budget will be dealt with today.