Daily Investment Strategy
Daily focus：CIMC Enric（3899）
CIMC Enric expects its offshore clean energy revenue share to rise from 26–27% in the first half of 2024 to 32% in the first half of 2025, indicating continued expansion in its clean energy business. With the conversion of earlier, low-margin orders, gross profit margin is expected to increase by approximately 0.2–0.3 percentage points year-on-year to 12.8–12.9% in the second half of 2025. Overall order backlogs remain high, with new orders for both clean energy and chemical equipment reaching record highs, which will support a subsequent revenue recovery. Driven by business structure optimization and a recovering market, earnings may see recovery momentum in 2026–2027.
The Federal Reserve's September meeting minutes revealed expectations for multiple rate cuts before year-end
The S&P 500 index closed up 0.6% at 6,753 on October 8, with the market continuing to benefit from the release of the Federal Reserve's September meeting minutes. The minutes revealed that officials agreed on a significant improvement in inflation but remained divided on the job market. Many members supported two or three additional rate cuts before the end of the year to solidify the foundations of the economic recovery. The minutes also noted that uncertainty about the policy outlook exacerbated market volatility, with officials focusing on future inflation trends and the global economy. The market interpreted this as a signal of continued accommodative monetary policy, leading to a strong rebound in technology and growth stocks. The Fed's subsequent pace of interest rate adjustments and economic data remain key areas for attention.
Hong Kong Stock Connect was suspended due to a public holiday in China.
Leung Kai Tong is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to https://apps.sfc.hk/publicregWeb/indi/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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