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The RMB exchange rate is expected to appreciate again at the end of the year. The research team of the Financial Market Department of Agricultural Bank of China said that the market transactions have shown obvious narrative-driven characteristics in recent years. Considering some recent changes, the RMB exchange rate is expected to stabilize and rebound again in the future. First, the pricing of Trump transactions in the international market has come to an end. Second, there has been a major shift in domestic macro policies. Since late September, financial policies such as lowering the RRR, cutting interest rates, supporting the stock market and the real estate market, and fiscal debt measures have boosted market confidence. Third, there has been a favorable change in supply and demand in the domestic foreign exchange market. The end of the year is the traditional peak season for enterprises to settle foreign exchange, and the continuous forward discount will lead to the backlog of foreign exchange settlement, which will further amplify the demand for foreign exchange settlement at the end of the year. Further considering the overall situation of the game between China and the United States, Trump's return not only means the enhancement of external shocks, but also the upgrading of internal policies. The RMB exchange rate will maintain two-way fluctuations next year, and it is no longer a steady profit for enterprises to hold US dollars and postpone foreign exchange settlement. While stabilizing domestic foreign trade and foreign investment, continuing to expand high-level opening-up and expanding domestic demand in an all-round way implies the certainty of economic stabilization and recovery, which is expected to promote the return of short-term securities investment and medium-and long-term direct investment and help the RMB stop falling and rebound.Meili Technology: Meili, a wholly-owned subsidiary, plans to purchase assets related to MSSC AHLE GmbH for 8.1 million euros. Meili, a wholly-owned subsidiary of Meili Technology, signed an Asset Purchase Agreement with MSSC AHLE GmbH(AHLE Company) on December 10, 2024 to purchase assets related to AHLE Company's business at a transaction consideration of 8.1 million euros, including factory buildings, production equipment, inventory, intangible assets, contractual rights, etc. AHLE Company was established in 1904, and its main business is spring research and development, manufacturing, sales and trade, etc. Its main products include automobile suspension springs, brake chamber springs and recovery springs, and its customers include Volkswagen, ZF and other OEMs and first-class suppliers. Due to operational difficulties, the bankruptcy court in Cologne, Germany, initiated bankruptcy proceedings on the property of AHLE Company on October 1, 2024. Germany Meili purchased these assets by auction, and the transaction price was based on the Financial Due Diligence Report and the Legal Due Diligence Report issued by a third-party intermediary agency, taking into account the market position, channels, customers and future market opportunities of the subject matter of the transaction.Ai Kelan: The actual controller intends to transfer 5% shares of the company by agreement. Ai Kelan announced that Liu Yi, the controlling shareholder and actual controller of the company, intends to transfer 4 million unrestricted shares of the company to Guangdong Nanchuan Private Equity Fund Management Co., Ltd. by agreement transfer, accounting for 5.00% of the company's total share capital. If the transaction is finally completed, Liu Yi holds 33.89% of the company's shares, and Nanchuan Private Equity holds 5.00% of the company's shares. This change in equity will not lead to changes in the controlling shareholder and actual controller of the company. The transfer of shares in this agreement can only be handled in Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. after the compliance confirmation of Shenzhen Stock Exchange. The share transfer price of this transaction is 20.61 yuan/share.

Mackler M, Governor of the Bank of Canada: (Regarding the potential tariff policy) We can't make policies based on what may happen. If the (US) tariffs are implemented as promised, it will cause serious damage to the Canadian economy.The monkeypox vaccine with independent intellectual property rights in China was approved for clinical use. On December 10th, the monkeypox vaccine jointly developed by China Bio-Beijing Institute of Biological Products and China Center for Disease Control and Prevention received the approval notice of drug clinical trial issued by National Medical Products Administration, and it was registered and classified as Class 1.2 innovative vaccine. The vaccine is an innovative vaccine independently developed by scientists in China with completely independent intellectual property rights, which is expected to play an important role in the prevention and control of diseases caused by monkeypox virus in China. (China Biology)Zhongyuan Expressway: The toll revenue in November was 373 million yuan. Zhongyuan Expressway announced that the toll revenue in November 2024 was 373 million yuan.

Weilai Li Bin: R&D investment is in basic research. Weilai's R&D expenses for Le Dao are far less than Xiaomi's R&D expenses for Xiaomi Automobile. (Sina Technology)People's Insurance Company of China: In the first November, the original insurance premium income of the three subsidiaries totaled 646.933 billion yuan. From January 1, 2024 to November 30, 2024, the original insurance premium income obtained through the subsidiaries of China People's Property Insurance Co., Ltd., China People's Life Insurance Co., Ltd. and China People's Health Insurance Co., Ltd. was 496.845 billion yuan, 102.591 billion yuan and 47.497 billion yuan respectively.IEA Monthly Report: The decision of OPEC+has reduced the potential oversupply. The International Energy Agency (IEA) said today that the recent decision of OPEC+member countries to postpone the planned production increase has "greatly reduced" the potential oversupply next year. Nevertheless, IEA said that in view of the persistent overproduction in some OPEC+member countries, strong supply growth outside the alliance and moderate global oil demand growth, there may still be a serious oversupply in the oil market in 2025. IEA predicts that even if all OPEC+production reduction plans remain unchanged, supply will exceed demand by about 950,000 barrels per day next year. IEA said that if OPEC members start increasing production in April as planned, the oversupply will increase to 1.4 million barrels per day.