Consumer special policies have arrived, how to interpret them?; NVIDIA GTC is about to open | Today's important news review

0317 ｜ Dolphin Research Key Focus:

🐬 Macroeconomics/Industry

1. To promote the prosperity of the consumer market, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued the "Special Action Plan to Boost Consumption," which has attracted attention. The plan proposes multiple measures to stimulate consumption, currently aimed at stabilizing the consumer market and promoting economic growth, with the consumption sector expected to benefit directly. Additionally, at 3 PM, the State Council Information Office will hold a press conference to introduce relevant information on boosting consumption.

2. The National Bureau of Statistics released the economic operation data for January-February. In January-February, the total retail sales of consumer goods reached 83,731 billion yuan, a year-on-year increase of 4.0%. Among them, retail sales of consumer goods excluding automobiles amounted to 76,838 billion yuan, an increase of 4.8%. Consumption showed signs of recovery during the Spring Festival. Dolphin Research's commentary on the macroeconomic data package at the beginning of the year can be found in "Has Spring Festival Consumption Become Booming?".

🐬 Individual Stocks

1. $NVIDIA(NVDA.US)

NVIDIA will hold its annual technology conference GTC2025 from March 17 to 21 local time, with its newly established "Quantum Day" event becoming the focus. CEO Jensen Huang's keynote speech is scheduled for March 18 local time (1 AM Beijing time on March 19). Prior to this, Huang stated in the earnings call that NVIDIA has "some very exciting things to share" at GTC, involving enterprise and agent AI, inference models, and robotics technology.

2. Core Focus on Earnings Report Interpretation and Conference Calls

Li Auto: "AI is Hard to Explain, Hybrid Warfare, What Will Li Xiang Use to Support 'Li Auto'?", "Li Auto (4Q24 Minutes): Aiming to be a Hardware Giant in the AGI Era?"

CATL: "CATL: Another Deep Squat! Is It Really That Scary This Time?", "Ning Wang (4Q24 Minutes): The Proportion of Shenxing Qilin is Expected to Increase to 60%-70% by 2025".

🐬 Leading Sectors

Shanghai and Shenzhen: Human resources and employment services, environmental and facility services, forest products;

Hong Kong stocks: Insurance brokerage companies, consumer finance, commercial and residential mortgage financing;

U.S. stocks: Airports - operators, heavy electrical equipment, diversified chemicals.

🐬 Tomorrow's Focus

1. Xiaomi, XPeng, Tencent Music, Beike, and China Literature will release their financial reports, Dolphin Research will track and provide interpretative analysis;

2. U.S. import price index month-on-month, U.S. industrial production month-on-month.

The risk disclosure and statement of this article: Dolphin Research Disclaimer and General Disclosure