The main contract for 30-year Treasury bond futures (TL) fell by 1.20% during the day, and is currently trading at 111.49 yuan.

Ukrainian President Zelensky: I have informed US President Trump that Russian President Putin’s statements about preparing to end the conflict are inconsistent with his actual actions.

Key News 1. The National Fiscal Work Conference was held in Beijing, announcing continued funding support for the trade-in program for consumer goods next year. 2. The People's Bank of China (PBOC) stated its commitment to improving the institutional and policy environment conducive to "long-term investment," significantly increasing the scale and proportion of various medium- and long-term funds actually investing in A-shares. 3. The National Bureau of Statistics reported that profits of industrial enterprises above designated size nationwide increased by 0.1% from January to November. 4. Housing provident fund loan interest rates will be officially lowered starting next year. 5. China's first batch of Level 3 autonomous vehicles began large-scale operation on public roads. 6. The Shanghai and Shenzhen Stock Exchanges released a series of fee reduction and profit-sharing measures for 2026. 7. The Ministry of Industry and Information Technology (MIIT) established the Humanoid Robot and Embossed Intelligence Standardization Technical Committee. 8. The MIIT stated its commitment to systematically promoting 6G technology research and development, standard development, and application cultivation, and to deeply implementing the industrial internet and artificial intelligence integration empowerment action. Individual Stock News 1. CATL (Contemporary Amperex Technology Co., Limited): Sodium batteries will be widely used in battery swapping, passenger cars, commercial vehicles, and energy storage next year. 2. Jiangte Electric: Losses exceeding 10 million yuan in lithium carbonate, soda ash, and copper futures and derivatives businesses. 3. Zhenxin Technology: Three proposals rejected; current directors stated: Controlling shareholder initiates procedures to replace the current board management. 4. Vanke MTN005: Proposal to extend the grace period for principal and interest payments passed; extension plan rejected. 5. Yijing Optoelectronics: Photovoltaic project in Quanjiao County cannot proceed as scheduled; received hearing notice. 6. Aerospace Development: Subsidiary mainly engages in commercial low-orbit satellite operation and data application services; its revenue in the first three quarters accounted for less than 1% of the company's total revenue. 7. Tongye Technology: Plans to acquire 91.69% equity of Silingke Semiconductor for 561 million yuan, entering the power IoT communication chip market. 8. Fenglong Shares (three consecutive daily limit-up): After the change of control, the company will still focus on its original business; UBTECH has no plans or arrangements to list through a restructuring of the listed company. 9. Shengtong Energy (11 consecutive daily limit-up): If the stock price rises further in the future, the company may apply to the exchange for a trading suspension for investigation. 10. Jiaming Packaging (8 consecutive daily limit-up): If the stock price rises abnormally further in the future, the company may apply for a trading suspension for investigation. 11. Sunwoda: Weirui Electric Vehicle Technology Co., Ltd. claims that the battery cells delivered by its subsidiary, Sunwoda Power, between June 2021 and December 2023 have quality problems and has sued the latter, involving 2.314 billion yuan. 12. Xiangyang Bearing: The shareholding structure of the controlling shareholder has changed, and the actual controller has been restored to the Hubei Provincial State-owned Assets Supervision and Administration Commission. 13. Hainan Huatie: The China Securities Regulatory Commission (CSRC) imposed a fine of 8 million yuan for incomplete disclosure and untimely progress disclosure of a 3.69 billion yuan computing power service agreement. 14. China Duty Free Group: A wholly-owned subsidiary won the bid for the 01 section of the Beijing Capital International Airport duty-free project, with a guaranteed operating fee of 480 million yuan in the first year. 15. VeriSilicon Holdings: New orders totaled RMB 2.494 billion from October 1st to December 25th, with AI computing power-related orders accounting for over 84% in the fourth quarter. 16. Shengyuan Environmental Protection: The cumulative net asset value growth rate of its subsidiary's subscribed fund products was -81.54%, and the company has reported the matter to the public security authorities and the China Securities Regulatory Commission. 17. Haozhi Electromechanical: As of the end of the third quarter, business in the robotics and commercial aerospace fields accounted for approximately 1% of its main business revenue.