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National Medical Products Administration publicly solicited opinions on the Announcement (Draft for Comment) on Simplifying the Registration and Approval of Traditional Oral Chinese Patent Medicines Listed in Hong Kong and Macao on the Mainland. According to the website of National Medical Products Administration, in order to implement the strategic plan of national construction in Guangdong-Hong Kong-Macao Greater Bay Area, further support the development of Chinese medicine in the Hong Kong Special Administrative Region and the Macao Special Administrative Region, and better integrate into the overall situation of national development, National Medical Products Administration drafted the Announcement (Draft for Comment) on Simplifying the Registration and Approval of Traditional Oral Chinese Patent Medicines Listed in Hong Kong and Macao on the Mainland, which is now open to the public for comments.Jiahe Meikang: Hongyun Jiukang plans to transfer 1.30% shares. Jiahe Meikang announced that Hongyun Jiukang Data Technology Co., Ltd. plans to transfer 1,788,400 shares through inquiry transfer, accounting for 1.30% of the company's total share capital. This transfer is a non-public transfer, and the transferee is an institutional investor with corresponding pricing ability and risk tolerance, and it shall not be transferred within 6 months after the transferee.Artes: The shares to be transferred by this inquiry have been fully subscribed. Artes announced that according to the inquiry and subscription on December 9, 2024, the initial transfer price of this inquiry was 11.88 yuan/share. A total of 38 valid quotations were received for this inquiry transfer, covering professional institutional investors such as fund management companies, insurance companies, qualified foreign investors, securities companies and private fund managers. The total number of shares effectively subscribed by institutional investors participating in this inquiry and transfer quotation is 121 million shares, and the corresponding effective subscription multiple is 2.18 times. The shares to be transferred in this inquiry have been fully subscribed, and it is preliminarily determined that there are 23 transferees, and the total number of shares to be transferred is 55,323,300 shares.

German Interior Minister: The situation in Syria is very uncertain at present, and the specific possibility of return is still unpredictable.The Great Wall Fund with "Moderately Loose" Monetary Policy: It is expected to open up space for the downward trend of bond interest rates. the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on December 9. The meeting pointed out that a moderately loose monetary policy should be implemented next year. The Great Wall Fund said that based on the "moderate easing" of monetary policy next year, the downside of bond interest rates is expected to be further opened, optimistic about the bond market in the coming year; At the same time, with the coming of the New Year's market, the bond interest rate may further decline in the context of loose liquidity and the entry of insurance funds.German Interior Minister: Further assessment of the protection status of recognized Syrian refugees living in Germany depends on the developments in Syria.

Huaxi Securities Interpretation of the Political Bureau Meeting in December: The policy strength showed an upward trend. The Huaxi Securities Research Report pointed out that the release signal of this meeting was positive. Judging from the significant strength of Hong Kong stocks and A50 futures, the content of the meeting greatly exceeded previous market expectations. There are mainly the following aspects: First, the policy tone is more positive. "Strengthening unconventional countercyclical adjustment", which is used to describe countercyclical adjustment for the first time, reflects the upward trend of policy strength. The policy of this year's two sessions is expressed as "strengthening countercyclical and cross-cyclical adjustment of macro policies", the Politburo meeting in July "strengthening countercyclical adjustment" and the Politburo meeting in September "strengthening countercyclical adjustment". From the point of view of change, it gradually turns to counter-cycle instead of cross-cycle, and the intensity is constantly upgrading. Create a follow-up policy for the market that may continue to be introduced until the economy stabilizes and rebounds. At the same time, the meeting did not mention "coordinating the expansion of domestic demand and deepening the structural reform of the supply side", but directly mentioned the expansion of domestic demand, which is also a manifestation of facing the problem more directly and attaching importance to the demand side. Second, as far as finance and money are concerned, this meeting mentioned "implementing a more active fiscal policy and a moderately loose monetary policy", and the modifier "more" was added in front of the active fiscal policy. A similar expression was found in the Politburo meeting in April 2020, "The active fiscal policy should be more active and promising", and then in May, the two sessions formulated a large-scale fiscal combination boxing (deficit ratio 3.6%+, 3.75 trillion new special debts and 1 trillion special national debts). The third is to stabilize the property market and write the stock market into the 2025 goal. The fourth is to pay attention to consumption. The meeting mentioned "vigorously boosting consumption, improving investment efficiency and expanding domestic demand in all directions". It is expected that the policy of promoting consumption will make a breakthrough in scale and direction. Fifth, the meeting also mentioned science and technology (to lead the development of new quality productive forces with scientific and technological innovation and build a modern industrial system), green (to jointly promote carbon reduction, pollution reduction and green growth, and accelerate the overall green transformation of economic and social development) and foreign trade. Emphasizing science and technology, it is clear that the direction of future policy is in the industrial direction led by science and technology. At the same time, for green, because next year is the last year of the 14 th Five-Year Plan, emission reduction and other targets need to be completed. In terms of foreign trade and foreign investment, the meeting mentioned that "it is necessary to expand high-level opening to the outside world and stabilize foreign trade and foreign investment".Caitong Securities: It is expected that the main objectives and tasks of economic and social development will be successfully completed throughout the year. the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on December 9 to analyze and study the economic work in 2025. According to Chen Xing, the macro chief analyst of Caitong Securities, from the current situation, the economic operation has been generally stable this year, and the key areas of risks have also been resolved in an orderly and effective manner. The meeting has confidence in this year's economic performance, and it is expected that the main objectives and tasks of economic and social development will be successfully completed throughout the year. From the perspective of future deployment, first, the positive attitude is unprecedented. The meeting mentioned that the policy will be more active and promising, and on the basis of counter-cyclical adjustment, it emphasized that the intensity should be "extraordinary" to offset "external shocks". We will implement a more proactive fiscal policy and a moderately loose monetary policy. Second, pay more attention to the actual effect of policies, not only to strengthen the forward-looking, targeted and effective regulation at the macro level, but also to promote the effectiveness of landmark reform measures in specific measures. Third, pay more attention to systematicness, emphasize "system integration and coordination", improve the toolbox, lay a good policy "combination boxing" and stabilize expectations.800 million time and space: it is planned to buy back shares of 50 million yuan to 100 million yuan. According to the announcement of 800 million time and space, it is planned to buy back shares of 50 million yuan to 100 million yuan. The source of funds is the company's own funds and the special loan for stock repurchase provided by CITIC Bank Beijing Branch, in which the amount of special loan does not exceed 70 million yuan. The repurchased shares are used for employee stock ownership plans or equity incentives at an appropriate time in the future. The repurchase price shall not exceed 41 yuan/share.