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Donghai securities: The refrigerant industry is expected to maintain a high degree of prosperity. According to the donghai securities Research Report, in 2025, the second-generation refrigerant quota will be reduced, and the total production quota of the third-generation refrigerant will remain at the baseline value. With the increase in demand for new household air conditioners and maintenance and replacement, the supply and demand relationship of the third-generation refrigerants will tighten, and the downstream air conditioners will be rapidly upgraded in December. The refrigerant industry is expected to maintain a high degree of prosperity, and the profitability of related refrigerant manufacturers is expected to be greatly improved. It is suggested to pay attention to the leading refrigerant industry and fluorine chemical production enterprises with relatively perfect industrial chain, such as Juhua, Sanmei and stone resources related to fluorine chemical raw materials.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.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.

Huatai Securities: The target price of Yum! China was raised to HK$ 472.48, and the "Buy" rating was maintained.US spokesperson: The conflict relegation mechanism with Russia has not been activated. According to a report by the Russian satellite agency on December 10, US Defense Department spokeswoman Sabrina Singh told reporters on the 9 th that the United States did not activate the conflict relegation mechanism with Russia after the change of Syrian regime, but these mechanisms remain available. According to the report, Singh said at a closed press conference: "I don't know if there has been any opening since the last mention of the channel, but the channel has always remained open." Earlier, militants occupying Syrian state television claimed to have controlled the whole country during the live broadcast. The Russian Foreign Ministry said that after negotiating with some participants in the Syrian conflict, Syrian President Bashar al-Assad decided to resign from the presidency and leave Syria and hand over power peacefully, while Russia did not participate in the negotiations. (Reference message)GF Securities and others invested in the establishment of venture capital fund partnership. According to the enterprise search APP, Zhuhai Guangfa Xinde Dongying Venture Capital Fund Partnership (Limited Partnership) was recently established with a capital contribution of 100 million yuan. Its business scope includes: engaging in equity investment, investment management, asset management and other activities with private equity funds. Enterprise equity penetration shows that the enterprise is jointly held by Guangfa Xinde Investment Management Co., Ltd. and Foshan Dongying Investment Management Co., Ltd. under GF Securities.

The possibility of closing the factory cannot be ruled out because the employers and employees of Volkswagen failed to reach an agreement in the fourth round of collective bargaining. On December 9, local time, audi ag and trade union representatives held the fourth round of collective bargaining on closing the factory and salary. The two sides still failed to reach an agreement, but described the meeting as "constructive". The collective bargaining was held in Wolfsburg on the afternoon of the 9th and lasted for eight hours. Arne Maiswon Kerr, the chief negotiator of Volkswagen, said that the negotiations were "constructive", but he also said that "there is still a long way to go to reach a feasible solution" and "we still cannot rule out the possibility of closing the factory". Tollsten Grog, the chief negotiator of the German Metal Industry Union, recognized the "constructive atmosphere" of the talks, but said that the positions of the two sides were still "far apart". It is reported that the two sides plan to continue collective negotiations from December 16th to 17th. Audi ag and the trade union failed to reach an agreement in the previous three rounds of negotiations.The field turnover of the 20th Changsha International Auto Show exceeded 5 billion yuan, and the 20th China (Changsha) International Automobile Expo (referred to as "Changsha International Auto Show") closed on December 9th. According to the latest data released by the organizing Committee on the 10th, the on-site turnover was 21,810 units, with the on-site turnover reaching 5.029 billion yuan. (China News Network)Yunnan Statistics Bureau: The burden of labor support in Yunnan is relatively light, and the demographic dividend is better than that in the whole country. Recently, the series of reports on the achievements of Yunnan's economic and social development in 75 years in New China released by Yunnan Statistics Bureau concluded that the age structure of Yunnan's population is better than that in the whole country, and the demographic dividend still exists. On the whole, the age structure of Yunnan population is better than that of the whole country, and the labor resources are abundant. The total dependency ratio (43.4%) is lower than the national average level (46.5%), the dependency burden of the labor force is relatively lighter than that of the whole country, and the demographic dividend is better than that of the whole country. (The Paper)