CMB Securities: It is expected that the profit of listed companies in Q4 will continue to grow positively. We recommend sectors such as non-ferrous metals, batteries, and semiconductors.

CICC released a research report stating that this week, the direction of improvement in business conditions is mainly in the fields of resource products, midstream manufacturing, and information technology. In the upstream resource sector, the prices of metals, steel, and coal have mostly risen; in the midstream manufacturing sector, prices in the new energy industry chain have mostly risen, with the three-month rolling year-on-year growth rate of metal forming machine tool production in November expanding. In information technology, memory prices continue to rise, and the three-month rolling year-on-year growth rate of telecom main business revenue in November has expanded. In the consumer services sector, profits in pig farming are on the rise. Listed companies are expected to continue to see positive growth in Q4 profits, but the growth rate may narrow. It is recommended to focus on listed companies with the potential for high growth or improvement in annual earnings in sectors such as non-ferrous metals, batteries, military electronics, aerospace equipment, power equipment, construction machinery, semiconductors, and media.