Jefferies: Raises target price for UnitedHealth Group (UNH.N) from $115 to $118.

[China Aviation Securities: Box Office Recovery and AI Technology Drive Dual Upgrades in Content Production and Business Models] China Aviation Securities points out that the film industry is facing structural upgrading opportunities driven by both box office recovery and AI technology. In the short term, the release of films during the Lunar New Year season and the continued implementation of AI production applications will be catalysts for the sector; in the medium to long term, AI empowerment will reshape the industry ecosystem and drive dual upgrades in content production and business models. It is recommended to focus on two main themes: 1. Technology-driven content companies; 2. Operating companies with deep investments in IP derivatives and short drama businesses.

Key News 1. A relevant official from the National Development and Reform Commission (NDRC) stated that for the first time, a systematic framework for the allocation and investment direction of government investment funds has been established at the national level. 2. Minister of Industry and Information Technology (MIIT) Li Lecheng stated that during the 15th Five-Year Plan period, the intelligent, green, and integrated development of the manufacturing industry will be further promoted, while maintaining a reasonable proportion of the manufacturing sector. 3. The Haihe Brain-Computer Interaction Laboratory (HCI-CI) has developed a fifth-generation space station-based brain-computer interface system in the aerospace field, completing the first-ever "space brain-computer interface experiment." 4. Zhejiang Province is proactively developing spatiotemporal information infrastructure and supporting private enterprises to participate in satellite IoT businesses based on their own satellite constellations. 5. Several memory chip packaging and testing companies have raised prices by approximately 30%, and a second wave of price increases cannot be ruled out. Individual Stock News 1. According to data on main capital flows, East Money Information saw the largest net inflow of main capital at 1.655 billion yuan, followed by Lingyi Intelligent Manufacturing, China Satellite, Shanzi Hi-Tech, and Yanshan Technology. Ping An Insurance saw the largest net outflow of main capital at 2.317 billion yuan, followed by Sungrow Power, Goldwind Technology, New Easun, and Yongding Shares. 2. KaiPu Cloud: Upgraded and released its self-developed AI Agent platform. 3. Tongguang Cable: The company is a major qualified supplier for AVIC Group, China Aerospace Science and Technology Corporation, and other entities. 4. Tianpu Shares: The actual controller, Yang Gongyifan, did not make any statements at the Hangzhou event; related rumors on stock forums are untrue. 5. Bicheng Technology: Some of the company's products can perform spectroscopic diagnostics on high-temperature plasma in the nuclear fusion field. 6. Kexiang Shares: The company's 800G optical module PCB and server PCB have achieved small-batch supply. 7. Baisheng Intelligent: Signed a strategic cooperation agreement with Baolong Group for parking lots, with a planned total cooperation amount of 200 million yuan. 8. Muyuan Foods: The company is building a super-healthy breeding pig platform to cultivate high-quality breeding pigs more suitable for China's breeding conditions and market demands.