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Employees hide $154 million in accounts. Macy's said that internal control was ineffective. On Thursday, Macy's said that a reassessment of its financial situation showed that as of February this year, the internal control (including proper record maintenance) of the chain department store was not effective. The retailer launched an evaluation at the end of November after discovering that an employee had concealed as much as $154 million in expenses for many years. Therefore, the company postponed the release of the third quarter earnings report until December 11th. Macy's said that under the supervision of the board of directors, Tony Spring, its CEO, and Adrian Mitchell, its chief financial officer, re-evaluated the effectiveness of internal control, and pointed out that its financial report was not effective as of February 3 due to major defects. The department store chain said that it is implementing changes to improve internal control and make up for major defects.Zhou Hongchun, a researcher at the State Council Development Research Center: Cultivating green buildings will form a new economic growth point. The Central Economic Work Conference proposed to jointly promote carbon reduction, pollution reduction and green growth, and step up the comprehensive green transformation of economic and social development. In this regard, Zhou Hongchun, a researcher at the the State Council Development Research Center, said that reducing carbon, reducing pollution and expanding green growth is the proper logic for China's high-quality economic development. The essence is to strengthen systematic thinking, pay attention to the coordination of various policies and reform and opening-up measures, and realize the green transformation and sustainable development of China's economy and society.Huatai Securities: The main industrial chain of lithium battery pays attention to the opportunity of profit bottoming, and the new technology focuses on solid-state batteries. Huatai Securities said that the domestic market policy side is superimposed on the enterprise side, and the carbon emission assessment in Europe is overweight in 2025. It is expected that the global new energy vehicle market will maintain steady growth in 2025. Coupled with the rapid growth of energy storage, it is estimated that the global battery demand will reach 1544/1937GWh in 2024/2025, which is +30%/+25% year-on-year. In the fourth quarter, the demand for power and energy storage is improving, and the prices of some links of lithium battery have shown signs of stabilization. We are optimistic about the links with tight supply and demand pattern and strong differentiation, and the performance of related enterprises is expected to rise in volume and price next year. In terms of new technologies, solid-state batteries continue to be tested and promoted, composite aluminum foil is expected to be mass-produced next year, lithium-sodium mixed technology is gradually landing, and fast charging permeability is expected to increase. It is recommended to pay attention to the progress of new technology industries.

The fifth district of Beijing issued a blue warning of strong winds. At present, Yanqing District, Mentougou District, Haidian District, Changping District and Fangshan District of Beijing have issued blue warnings of strong winds.Onlikon: The cooperative product Aidit calcitonin soft capsules is planned to be selected for the tenth batch of national centralized drug procurement. Onlikon announced on December 13th, and on December 12th, the company received a notice from its partner Beijing Meifurun Pharmaceutical Technology Co., Ltd. (hereinafter referred to as "Meifurun") that the Aidit calcitonin soft capsules jointly developed by the company and its wholly-owned subsidiary Wenzhou Haihe Pharmaceutical Co., Ltd. are planned to be selected for the tenth batch of national centralized drug procurement. According to the Pharmaceutical Cooperation Agreement signed by the company and its partner Mei Furun, the company owns 50% of the cooperative products.CITIC Securities: It is expected that the scale of personal pension will grow steadily. According to the CITIC Securities Research Report, on December 12, 2024, the Ministry of Human Resources and Social Security and other departments jointly issued the Notice on the Full Implementation of Personal Pension System, and the personal pension system will be promoted to the whole country on December 15, with emphasis on product supply and collection conditions optimized. In terms of individual pension funds, 85 index funds were added. At present, the total number of personal pension products is 941, and the performance of most products is relatively stable. The personal pension system shoulders the important mission of perfecting the multi-level and multi-pillar pension insurance system and doing a good job in pension finance. It is expected that with the continuous optimization of system design, continuous enrichment of product supply and continuous improvement of service level, the scale of personal pension is expected to grow steadily, which will also help to better play the wealth management function of the capital market and build a sound policy system of "long money and long investment".

CITIC Jiantou: The Matthew effect of the property insurance industry is expected to be further highlighted. CITIC Jiantou said that the State Financial Supervision and Administration Bureau recently issued the Action Plan on Strengthening Supervision, Preventing Risks, Promoting Reform and Promoting the High-quality Development of the Property Insurance Industry. In terms of comprehensive supervision and strict supervision, the Action Plan proposes to improve the quality and effectiveness of property insurance supervision from strengthening market access and exit supervision, promoting hierarchical and classified supervision, strictly rectifying illegal activities, and improving prudential supervision system and rules. In terms of effectively preventing and resolving risks, the Action Plan proposes to enhance the ability of risk prevention and resolution of the property insurance industry by enhancing the ability of capital replenishment and improving the monitoring and early warning system, and proposes to encourage mergers and acquisitions of property insurance companies. Deepen reform and promote opening up, and propose to guide property insurance institutions to position their development, accelerate business transformation and upgrading, enhance risk management capabilities, and promote high-level opening up. On the whole, the Action Plan will help to prevent and resolve risks in the property insurance industry, lay a foundation and provide guidance for the high-quality development of the industry, and the Matthew effect of the industry is expected to be further highlighted.Haitong Securities: The moderate price reduction of traditional Chinese medicine varieties continues. The domestic pharmaceutical industry is expected to set off a wave of mergers and acquisitions. Haitong Securities released a research report saying that the moderate price reduction of traditional Chinese medicine varieties continues. In 2024, the traditional Chinese medicine industry was under pressure due to the pressure of pharmacy terminal sales and inventory pressure, and it is expected to return to a good situation in the next 25 years. In addition, the continuous technological changes in the pharmaceutical industry, the development of IPO to mergers and acquisitions and the promotion of corporate governance optimization at the shareholder level are the main reasons for promoting mergers and acquisitions in the industry. In terms of fields, mergers and acquisitions are expected to occur intensively in sub-sectors such as medical devices, Chinese medicine, medical services, blood products and scientific research services.Morgan Stanley called concerns about South Korean financial stocks "excessive". Morgan Stanley said that recent political developments have hit South Korean financial stocks particularly hard because people are worried that reform efforts may be delayed and the risk of tightening supervision.