Spot palladium rose 2.00% on the day, currently trading at $1966.04 per ounce.

Key News 1. Li Qiang signed a State Council decree promulgating the revised "Regulations for the Implementation of the Drug Administration Law of the People's Republic of China". Individual Stock News 1. Muxi Technology: Expects a net loss of 650 million to 798 million yuan in 2025, narrowing the loss by 43.36% to 53.86%. 2. Muxi Technology releases the XiSuo X series of scientific intelligent GPUs. 3. AMEC Semiconductor issues a price increase notice: price increases of 15% to 50%. 4. Guoke Microelectronics issues a price increase notice, with some products increasing by 80% starting in January. 5. Vanke A: Shenzhen Metro Group provides a loan of no more than 2.36 billion yuan. 6. Yongding Technology: Expects net profit to increase by 225.66% to 388.48% year-on-year in 2025. 7. Ganfeng Lithium: Expects net profit to increase by 153.04% to 179.56% year-on-year in 2025. 8. Shijia Photonics expects its 2025 net profit to increase by approximately 426% year-on-year, but its Q4 performance fell short of expectations. 9. Ningbo Fubang: Expects its 2025 net profit to increase by 3099.59% to 4379.43% year-on-year. 10. Aerospace Science and Technology: Expects its 2025 net profit to increase by 388.74% to 633.11% year-on-year. 11. Shennan Circuits: Expects its 2025 net profit to increase by 68%-78% year-on-year, leveraging opportunities such as the growing demand in the storage market to optimize its product structure. 12. Shunhao Shares: Its core technology, Orbital Chenguang, aligns closely with the global trend of space computing power development. 13. China Gold: Primarily engaged in the R&D, processing, retail, wholesale, and repurchase of gold jewelry, and does not possess exploration or mining rights. 14. Yingxin Development: Plans to acquire a 60% stake in Guangdong Changxing Semiconductor for 520 million yuan, with the memory chip business expected to contribute to the company's revenue growth. 15. Pien Tze Huang: The first subject was enrolled in the Phase I clinical trial of its innovative drug PZH2113 capsules. There are currently no drugs with the same indication and target in China or abroad that have been approved for marketing.

The People's Bank of China (PBOC) announced today that it conducted 377.5 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 377.5 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.