编辑 杨娟娟 校对 柳宝庆 新京报贝壳财经讯（记者白昊天）11月5日， 宝马集团发布了2025年前三季度业绩数据。宝马集团第三 季度营收为323.14亿欧元，同比下降0.3%。前三季度营收为999.99亿欧元，同比下降5.6%。前三季度集 团税前利润（EBT）合计达80.56亿欧元，同比下降9.1%。 销量方面，宝马集团三季度交付量接近59万辆，前三季度，宝马集团全球客户交付量同比增长2.4%， 达到179.6万辆。其中，欧洲市场交付量增长8.6%，美国市场增长9.5%。 此外，宝马集团预计2025年其汽车业务板块的息税前利润率仍将保持在5%-6%区间，全年总交付量有望 实现小幅增长。 ...

随着美国国会参议院第14次否决临时拨款法案，美国联邦政府正在经历"史上最长停摆"。此次"停摆"已 严重影响美国航空运输、食品救济、医疗保障等多个民生领域。而美国两党却进入"摆烂"模式，政府没 有"开门营业"的迹象。是什么原因造成了美国历史上最长时间的"停摆"，什么时候会结束。我们视频记 者采访到国际问题专家萨苏，解读美国政府"停摆"的影响，民主、共和两党都在忙什么。 ...

Core Viewpoint - The company "Juewei Foods," once a leader in the duck neck market, is experiencing its worst operational downturn since its IPO in 2017, with significant declines in revenue and net profit in 2024 and 2025 [2][3]. Financial Performance - In the first three quarters of 2025, Juewei Foods reported a revenue of approximately 4.26 billion yuan, a year-on-year decrease of 15.04%, and a net profit attributable to shareholders of about 280 million yuan, down 36.07% [3]. - The company's revenue in 2024 was 6.26 billion yuan, reflecting a 13.84% decline compared to 2023, while net profit fell to 227 million yuan, a decrease of 34.04% [3]. - The gross profit margin for Juewei Foods' processed food sales showed fluctuations, with 2024's revenue from this segment at approximately 5.22 billion yuan, down 13.67% year-on-year [4]. Store Operations - The number of stores has significantly decreased, with Juewei Foods operating 10,606 stores as of early October 2025, down from 15,950 at the end of 2023 [2][7]. - The company is facing challenges in its store expansion model, which previously contributed to revenue growth [6][7]. Investment and Cash Flow - Juewei Foods has reported a net cash flow from operating activities of approximately 602 million yuan in the first three quarters of 2025, a decline of 34.88% year-on-year [7][8]. - The company's accounts receivable increased by 20% to about 230 million yuan, indicating a potential risk in credit policies [8]. - Investment returns have been poor, with cumulative losses exceeding 370 million yuan from 2022 to 2024 [9][10]. Regulatory Issues - The company has faced regulatory scrutiny, with the China Securities Regulatory Commission launching an investigation into its financial disclosures, leading to penalties and a change in stock designation to "ST Juewei" due to financial irregularities [10][11].

11月5日，美国民主党籍候选人马姆达尼赢得纽约市市长选举，特朗普作出回应。特朗普说马姆达尼当 选"对任何人都没有好处"。他说联邦政府"停摆"是马姆达尼当选重要因素，提议参议院终止"冗长辩 论"。共和党资深参议员麦康奈尔当天表示，共和党人不会结束"冗长辩论"。特朗普呼吁共和党参议员 废除参议院长期实行的"冗长辩论"议事规则。该规则是指通过法案需要至少60票，提议遭共和党人抵 制。 ...

湖南"长沙发布"消息，11月4日，湖南省委常委、长沙市委书记吴桂英主持召开市委专题调度会议，研 究全市"人工智能+"行动相关工作。市领导周健、罗缵吉、陈刚、邹特、彭涛出席。 公开简历显示，周健，男，1984年11月出生，江苏建湖人，汉族，研究生学历，经济学硕士学位，讲 师，2008年7月参加工作，2004年12月加入中国共产党。 周健历任北京大学心理学系团委书记、北京大学人事部部长助理、人事部部长助理，海南省委组织部人 才工作处副处长（主持全面工作）、处长，共青团海口市委书记、党组书记，海口市市政市容管理委员 会（市城市管理行政执法局）党组成员、海口市市政管理局党组书记、局长，海口市城市管理委员会 （市综合行政执法局）党组成员，海口市市政管理局党组书记、局长，海口市美兰区区长，海南省委副 秘书长、常委办主任，湖南省委副秘书长等职，至近期履新。 另据"湖南湘江新区"微信公众号消息，11月5日，长沙市委副书记、湖南湘江新区（长沙高新区）党工 委书记、岳麓区委书记周健，湖南湘江新区（长沙高新区）管委会主任、岳麓区区长何朝晖带队走访新 区重点企业。 ...

亚太首秀的特斯拉赛博无人驾驶电动车同样十分"吸睛"。车辆的金色涂装外观设计极尽简洁，独特的鸥 翼门设计更是让整个车辆充满科幻感。据此前计划，车辆将于2026年投产，预计车辆成本低于30000美 元。 此外，西门子则是围绕"以科技，共创每一天"为主题。"数字化解决方案"和"端到端车辆数字化运维解 决方案场景展示"展示了西门子交通如何以创新实践赋能中国及全球轨道交通，实现可持续发展的未 来。 "进博会是我国主动向世界开放市场的重大举措，也是企业展示商品、开拓市场、增进交流、实现价值 的大舞台。朝阳区作为首都的经济大区、消费大区，也是北京国际消费中心城市建设的主承载区。进博 会期间，除了携企业展览展示最新产品、组织企业与参展企业积极洽谈和采购签约，我们还将举办朝阳 主题交流活动，通过面对面宣传推介、商洽交流，寻商机、交朋友、谋合作，邀更多国内外朋友走进朝 阳、扎根朝阳，同享进博会带来的'中国机遇'。"朝阳区商务局相关负责人告诉新京报贝壳财经记者。 本届进博会展览面积超过36.7万平方米，有290家世界500强和行业龙头企业参展，共设置医疗器械及医 药保健、汽车及智慧出行、技术装备、消费品、农食产品、服务贸易等六大展 ...

Group 1 - The 8th China International Import Expo (CIIE) opened on November 5, showcasing over 300 enterprises from Beijing Chaoyang District, aiming to enhance international trade cooperation and share new development opportunities in China [1][2] - Olympus, Tesla, and Siemens presented their latest innovations at the expo, with Olympus focusing on medical technology, Tesla showcasing its Cybertruck, and Siemens emphasizing digital solutions for sustainable transportation [1] - The expo features an exhibition area exceeding 367,000 square meters, with participation from 290 Fortune 500 companies, marking a historical high in both exhibition space and number of enterprises [2] Group 2 - The CIIE serves as a significant platform for companies to display products, expand markets, and foster communication, particularly for Chaoyang District as a key economic and consumption area in Beijing [2] - The event includes six major exhibition areas such as medical devices, automotive, and consumer goods, along with an innovation incubation zone [2] - The expo aims to attract more domestic and international partners to Chaoyang, promoting collaboration and shared opportunities arising from the event [2]

Core Insights - The introduction of the RX1E-S electric seaplane in Beijing's Yanqing District marks a significant advancement in waterway surveillance, enhancing law enforcement efficiency by nearly 50 times compared to traditional methods [1][2] - The seaplane, developed by a team led by an academician from the Chinese Academy of Engineering, is fully domestically produced and aims to initiate a new era of commercial electric seaplane operations in China [2] Group 1 - The RX1E-S electric seaplane can cover 238 square kilometers of water area in just 20 minutes, significantly improving the efficiency of patrols over the 800 square kilometers of the Guanting Reservoir and the adjacent waterways [1] - Since its deployment, the seaplane has logged 221 flight hours over six months, successfully identifying multiple illegal fishing activities, thus providing crucial evidence for cross-regional law enforcement [1] Group 2 - The seaplane features a streamlined design and biomimetic elements, allowing it to maneuver easily in narrow waterways and take off or land on water surfaces [2] - Future enhancements for the seaplane include the addition of multispectral imaging equipment to monitor water quality and environmental conditions, expanding its coverage to more cross-border waterways and ecologically sensitive areas in the Beijing-Tianjin-Hebei region [2] - The Yanqing District aims to promote the transformation of green aviation technology, balancing ecological protection with public service needs, and positioning itself as a leader in low-altitude technology innovation and industry development [2]

Core Insights - The article emphasizes the significant achievements of China during the "14th Five-Year Plan" and outlines the expectations for the upcoming "15th Five-Year Plan," focusing on high-quality development and China's evolving role in global economic governance [1][11]. Summary of Key Points Achievements during the "14th Five-Year Plan" - Six keywords summarize the achievements: "high-quality development," "high-level opening up," "technological self-reliance," "green transformation," "common prosperity," and "coordinating security and development" [5][6]. - China has made remarkable progress in the renewable energy sector, establishing a global leadership position, particularly in solar, wind, and energy storage industries [7][8]. - The shift from high-speed growth to quality improvement has laid a foundation for sustainable development, supported by comprehensive opening up in various sectors [5][6]. Expectations for the "15th Five-Year Plan" - The "15th Five-Year Plan" is viewed as a critical period for achieving the second centenary goal, with its success directly impacting the realization of modernization by 2035 [8][9]. - The economic growth drivers for the "15th Five-Year Plan" are identified as three engines: new productive forces, release of domestic demand potential, and higher-level opening up [9][10]. - New productive forces are likened to an "engine," representing breakthroughs in technology and deep industrial transformation, while domestic demand acts as the "chassis" providing stability [10]. Role in Global Economic Governance - China's role in global economic governance is transitioning from a participant to a leader, with expectations to take a more active role in WTO reforms and the Belt and Road Initiative [11][12]. - The focus will shift from project-driven approaches to establishing rules and standards, promoting Chinese standards globally [12][13]. - China aims to advocate for a multipolar and inclusive global economic order, contributing to global governance with its unique perspectives and strengths [13].

Core Viewpoint - The successful IPO of Seres on the Hong Kong Stock Exchange marks the largest fundraising event for an automotive company in Hong Kong this year, raising over HKD 14 billion, with the company aiming to enhance its global presence and competitiveness through this capital raise [1][3]. Company Overview - Seres, originally a parts manufacturer, entered the automotive manufacturing sector in 2003 through a joint venture with Dongfeng and ventured into the electric vehicle market in 2016. The company faced financial difficulties until its partnership with Huawei in 2021, which revitalized its business [2][4]. - The company rebranded from "Chongqing Xiaokang Industrial Group Co., Ltd." to "Seres Group Co., Ltd." in 2022, and it is projected to achieve over CNY 100 billion in revenue and nearly CNY 6 billion in net profit by 2024 [2][4]. IPO Details - Seres issued a total of 10.8 million H-shares, with a final offering price of HKD 131.50 per share, raising a total of HKD 14.283 billion, with a net amount of HKD 14.016 billion after expenses [3]. - The company plans to allocate 70% of the raised funds to research and development, with the remainder directed towards building overseas sales channels [2][3]. Financial Performance - The partnership with Huawei has significantly boosted Seres' revenue, with projections showing a rise from CNY 143.02 billion in 2020 to CNY 1451.76 billion in 2024, marking a growth of over 300% [4]. - In the first three quarters of this year, Seres reported revenue of CNY 1105.34 billion, a year-on-year increase of 3.67%, and a net profit of CNY 53.12 billion, up 31.56% [4]. Market Position and Strategy - The majority of Seres' revenue is derived from its Aito brand, which accounted for over 90% of total revenue in the first half of this year. The sales of Aito vehicles are projected to grow significantly from 78,000 units in 2022 to 389,000 units in 2024 [4][5]. - The company is strategically reducing focus on other brands to concentrate on Aito, with a significant decrease in the number of dealerships for other brands from 1882 in 2022 to an expected 400 in 2024 [5]. Debt and Global Expansion - Seres operates with a high leverage ratio, with debt-to-asset ratios increasing from 79.2% in 2022 to 87.4% in 2024, indicating potential financial strain [6]. - The company aims to strengthen its overseas market presence, with international revenue declining from 11.5% of total revenue in 2022 to 2.9% in 2024. The IPO is seen as a means to accelerate its global strategy [7]. Future Growth Potential - Seres has entered a partnership with ByteDance to explore opportunities in embodied intelligence, indicating a strategic move to diversify its growth avenues beyond electric vehicles [7]. - The company has set an ambitious target of achieving a production capacity of one million electric vehicles within three years, amidst a highly competitive automotive market [7].