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FTSE China A50 index futures fell to 3.5%.In the afternoon, the downward trend of spot bond interest rate expanded, and the downward trend of spot bond interest rate expanded. The yield of 10-year treasury bonds was 5.25bp to 1.8525%, the yield of ultra-long-term treasury bonds was 4.25bp to 2.0675%, and the yield of 10-year CDB bonds was 5bp to 1.92%.Sanhui Electric: Due to inaccurate information disclosure, Sanhui Electric announced that the company recently received a supervision letter from Ms. Jiang Shuling, an independent director, pointing out that the company's energy storage business income and cost accounting were not standardized, which led to inaccurate information disclosure in the third quarter of 2023. Independent directors urged the company to conduct accounting in strict accordance with accounting standards, improve the standard level, and strengthen the management and control of raised funds and internal business processes. In addition, the management is required to seriously study relevant laws and regulations to prevent similar incidents from happening again. The company has attached great importance to the requirements of the supervision letter and will complete the rectification on time.

Shougang shares invested in the establishment of electromagnetic materials technology company in Suzhou. The enterprise search APP shows that Shougang Zhixin Electromagnetic Materials Technology (Suzhou) Co., Ltd. was recently established, with Zhao Songshan as the legal representative and a registered capital of 5 million yuan. Its business scope includes: hardware product manufacturing; Sales of metal materials; Metal cutting service; Sales of metal products. Enterprise survey shows that the company is wholly owned by Shougang Zhixin Electromagnetic Materials (Qian 'an) Co., Ltd., a subsidiary of shougang shares.Johnson, Speaker of the US House of Representatives: Trump regards tariffs as a negotiation strategy. It is expected that during Trump's second term, supervision will be relaxed.Citic Lyon: We are optimistic about the cross-border capital flow and IPO recovery of the Hong Kong Stock Exchange, but we should pay attention to the fluctuation of H shares of Chinese brokers. Citic Lyon issued a report saying that we are optimistic about the cross-border capital flow and IPO recovery of the Hong Kong Stock Exchange (00388.HK), and noted that china galaxy (06881.HK) is highly sensitive to the transaction costs of A-share securities. Citic Lyon expects that the A-share trading volume will remain stable in 2025 with the support of favorable liquidity, ETF growth and structural shift of household balance sheets to financial assets, but the bank reminds investors to pay attention to the recent excessive fluctuation risk of H-share brokers.

In the afternoon, the downward trend of spot bond interest rate expanded, and the downward trend of spot bond interest rate expanded. The yield of 10-year treasury bonds was 5.25bp to 1.8525%, the yield of ultra-long-term treasury bonds was 4.25bp to 2.0675%, and the yield of 10-year CDB bonds was 5bp to 1.92%.Cyrus weakened in the afternoon, falling more than 5% in intraday trading, with turnover exceeding 9.1 billion yuan.Huatai Securities: The target price of Yum! China was raised to HK$ 472.48, and the "Buy" rating was maintained.