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Shanxi Securities: The launch of new OpenAI products catalyzes the demand for low-orbit satellite to continue to accelerate. Shanxi Securities Research Report pointed out that 1) The "Open AI 12 Days" activity was held, and the official version of o1 &pro and the full version of ChatGPT pro o1 were released faster and more powerful than o1 preview, and they performed better in code, mathematics and writing, and still possessed the original ability of picture reasoning. With the marginal cost of training continuing to increase and cot reasoning computing power continuing to increase, the computing power demand in 2025 is real and may continue to exceed expectations. It is suggested that the current optical module, copper connection, power supply and liquid cooling should be switched to the low valuation of 2025 performance. 2) Amazon shows trn1 ultra cabinet products, and cloud manufacturer ASIC brings incremental demand for copper connection. Cloud manufacturers' self-developed ASIC will bring important demand increment for high-speed copper connection. At present, copper connection system component manufacturers are concentrated overseas, while bare wire supporting capacity is concentrated in China. 3) Last week, Yuanxin Qian Fan's third networking satellite was successfully launched in Taiyuan, and SpaceX mobile phones were directly connected to satellite networking for commercial use. The development of LEO satellite Internet is related to 6G standard discourse right, orbital frequency resources and the game of international air and space infrastructure powers, which is expected to force the launch of LEO constellation in China to accelerate again. Under the catalysis of continuous events, the relevant targets of the industrial chain are expected to usher in a certain performance contribution and drive the double-click market.Sora concept stocks fell, Huayang Lianzhong fell, Easy Point World, Fushi Holdings fell more than 8%, and Wanxing Technology fell nearly 5%.The decline of treasury bond futures expanded, with the 30-year main contract falling by 0.50%, the 30-year main contract falling by 0.50%, the 10-year main contract falling by 0.18%, the 5-year main contract falling by 0.12% and the 2-year main contract falling by 0.05%.

Most gold stocks in Hong Kong stocks strengthened, and Zhaojin Mining rose by over 5%. As of press time, Zhaojin Mining (01818.HK) rose by 5.47%, Lingbao Gold (03330.HK) rose by 5.09% and Shandong Gold (01787.HK) rose by 2.26%.The first day of listing, the new shares of Gem Boyuan opened sharply higher, and now it has risen by over 220%.The fire spread in Southern California, USA, with more than 53,000 users losing power. The bush fire near downtown Malibu, Southern California, USA is still spreading. As of the evening of the 10th EST, the fire area has expanded to 10.98 square kilometers, and there are more than 53,000 users losing power in California. The director of the Los Angeles County Fire Department said at the news conference on the same day that the fire has not yet been controlled and a small number of houses were burned, but no casualties were caused. (CCTV News)

Guojin Securities: In 25 years or the first year of commercial mass production of humanoid robots, Guojin Securities said that Huawei's overweight body intelligence has become a new direction, which is expected to bring deterministic AI technology to domestic robot manufacturers and help domestic OEMs accelerate their rise. In 25 years or the first year of commercial mass production of humanoid robots, the domestic and international industries have resonated, and the humanoid robot industry has ushered in a period of rapid development and has plate investment opportunities. It is suggested to focus on the screw, reducer, torque sensor and domestic robot.The insurance sector fell by more than 8% in the short term, and the insurance sector fell by more than 8% in the short term. New China Life Insurance, China PICC, China Life Insurance and China Pacific Insurance followed suit.Huaneng International and others set up a new energy company in Nanjing. According to Tianyancha App, Huaneng (Nanjing Jiangning) New Energy Co., Ltd. was established on December 9, with the legal representative of Wang Changbin and the registered capital of 164 million RMB. Its business scope includes power generation business, power transmission business, power supply (distribution) business, construction project supervision, wind power generation technical service, energy storage technical service, solar power generation technical service, and investment activities with its own funds. The company is jointly owned by Huaneng International Power Jiangsu Energy Development Co., Ltd. and Sino-Singapore Green Investment Private Co., Ltd. under Huaneng International (600011).