Core Viewpoint - The trend of banks shutting down their mobile applications has gained significant attention, with over 20 banks ceasing operations of certain apps in 2023, indicating a shift towards consolidation and efficiency in the banking sector [1][8]. Group 1: Bank App Shutdowns - Multiple banks have announced the closure of their respective apps, particularly in the credit card and direct banking sectors [2][3]. - China Bank announced in late September that its "Bountiful Life" app will gradually migrate to the China Bank app, leading to the eventual shutdown of the former [4]. - Beijing Bank stated that its direct banking app and website will cease operations on November 12, 2025, with functionalities migrating to the "Jingcai Life" mobile banking app [6]. Group 2: Industry Trends and User Reactions - Since the beginning of 2023, over 20 banks have stopped operating certain apps, with 25 apps, including Minsheng Direct Bank and Kunlun Direct Bank, voluntarily deregistering, covering various financial sectors [8]. - Public sentiment appears supportive of the consolidation, with many users expressing that having one app per bank is sufficient [10]. Group 3: Expert Insights - Industry experts believe that the wave of app shutdowns and consolidations will help banks reduce costs and improve efficiency while enhancing user experience [12]. - Recommendations for banks include optimizing mobile ecosystems, upgrading main apps, integrating credit card functions for a "one-stop" service, and enhancing digital capabilities through AI and big data [12]. - There is an emphasis on exploring diversified services within main apps and ensuring compliance and security during data migration [12].

年初曾暂停的公开市场国债买卖操作在10月已恢复。央行近日公布的各项工具流动性投放情况显示，10 月已投放200亿元。 市场专家普遍看重央行重启操作释放的信号意义，认为利好债市，长端利率债理财、"固收+"理财产品 等有望受益，建议投资者把握投资机会。 释放稳增长信号 业内人士表示，央行重启国债买卖操作，释放了稳增长信号，将提振债市信心。 兴银理财投资研究部相关人员表示，中国人民银行行长潘功胜在2025金融街论坛年会上明确表示"债市 整体运行良好"，传递出当前利率水平处于政策合意区间的信号，同时提及"向非银机构提供流动性支 持"，有助于稳定市场预期。对债市而言，今年四季度经济或延续弱修复，叠加央行重启国债买卖操作 带动宽松预期升温，市场整体偏顺风，有望开启一轮修复行情。 债券类理财迎投资机会 10月下旬以来，国债长端利率逐步下行。受访机构和人士认为，后续长端利率或将进一步下行，相关理 财产品将从中受益，建议投资者及时把握投资机会。 张菁认为，短期来看，央行恢复购债的利好情绪带动长端利率下行。展望后市，虽然整体看好债市，但 下行空间打开还需要进一步支撑，可以观察央行买债规模和期限是否超预期。 她进一步表示，债市运行 ...

在风起云涌的量化投资江湖中，淳厚基金量化与指数投资部总监周俊凭借着扎实的投研功底与均衡的投 资视角，逐渐在行业中崭露头角。 拥有12年量化投研①经验的他，曾亲历私募量化大发展期，2023年9月，他选择加入淳厚基金，开启在 公募领域的新征程。 在投资中，周俊始终强调量化策略的"可解释性"。他从因子挖掘到组合构建的过程中均保持逻辑清晰， 避免过度依赖"端到端"的机器学习。他希望通过"强因子弱模型"的投资架构，在因子层面追求逻辑清 晰、低相关性，在模型层面控制复杂度，确保策略出现波动时可追溯、可修复。这种均衡而稳健的风 格，正是周俊在量化行业中行健致远的关键。 坚持均衡投资 以多周期策略捕捉市场机遇 周俊的职业生涯贯穿了公私募两大资管细分领域。量化投资在中国刚启蒙的时候周俊便进入了行业，从 量化研究员成长为核心团队骨干。在量化行业快速发展期，他加入了一家中小型私募，作为核心基金经 理之一，亲历了公司规模从20亿元增长至400亿元的过程，自己也积累了丰富的投资经验。此后，他选 择"私转公"，于2023年9月加入淳厚基金，投身公募行业。 周俊所构建的量化模型，致力于追求以"多周期预测"为核心、兼顾逻辑透明与风险可控的均 ...

【导读】券商业绩说明会聚焦多个热点 近期，多家头部券商陆续召开2025年第三季度业绩说明会，就市场关心的并购重组、国际业务、数字化 转型以及业绩波动等热点话题，进行集中回应与解读。 截至目前，中信证券、国泰海通证券、光大证券、招商证券、中信建投（601066）、华泰证券、中国银 河（601881）等券商均已召开第三季度业绩说明会，相关高管纷纷发声，释放出行业发展的新信号。 投资者发问围绕"业绩波动" 尽管市场整体回暖，但部分券商第三季度业绩出现波动，引发投资者关注。 日前，华泰证券披露2025年第三季度报告。数据显示，华泰证券第三季度实现营业收入109.09亿元，同 比下降6.94%；归属于上市公司股东的净利润为51.83亿元，同比下降28.11%。 有投资者犀利发问，"在市场这么好的时候，为何跑输行业？" 华泰证券首席执行官周易解释称，2024年同期公司处置子公司形成62.3亿元的一次性损益，剔除相关影 响后，公司2025年第三季度营业收入同比增长98%，前三季度营业收入增长超50%，第三季度扣非归母 净利润同比增长389%，前三季度扣非归母净利润同比增长超过100%。 招商证券被投资者问及，自营投资收益表 ...

11月10日，天眼查工商信息显示，智元机器人关联公司智元创新（上海）科技有限公司发生工商变更，企业名称变为智元创新（上海）科技股份有限公司 （以下简称智元创新）。 | ● 大 訳音 | | 都在用的商业查询工具 | 查公司 查老板 查关系 查风险 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | 国家中小企业发展子基金旗下机构 | 智元创新 (上海)科技股份有限公司 | (×) | 天眼一下 | 船 应用 ▼ 商务合作 企业级产品、 曾开通: | | 基本信息 192 | | 法律诉讼 | 经营风险 14 | 经营信息 999+ | | 知识产权 555 公司发展 65 | | | | | (有限合伙) | | | 合伙) | | 3 | 2025-11-06 | 名称变更 | 智元创新(上海)科技有限公司 | | | 智元创新（上海）科技股份有限公司 | | র্ম | 2025-11-06 | 监事备案 | 卫云龙 | | | 卫云龙 廖文颖 【新进】 刘斯 【新进】 | | 5 | 2025-11-06 | 企业类型变更 | 有限责任公司 ...

Market Overview - A-shares experienced a volatile adjustment last Friday (November 7), with all three major indices closing lower, indicating a high-level market adjustment [1] - Following a net outflow of over 13.1 billion yuan the previous day, the stock ETF market saw a shift to net inflow, with significant inflows into Hong Kong stock ETFs [1] ETF Performance - As of November 7, the total scale of 1,246 stock ETFs reached 4.64 trillion yuan, with total trading volume on that day amounting to 166.31 billion yuan, a decrease of nearly 16% compared to the previous trading day [3] - Chemical ETFs led the market with gains, with the Chemical ETF rising by 3.49%, followed closely by the Chemical Leader ETF and Chemical 50 ETF, which increased by 3.47% and 3.42% respectively [3][4] Fund Flows - On November 7, the stock ETF market saw an increase of 1.95 billion shares, translating to a net inflow of approximately 310 million yuan [5] - In the broader ETF market, net inflows were recorded at 450 million yuan on October 20, with bond ETFs and Hong Kong stock ETFs leading the inflows at 2.44 billion yuan and 1.99 billion yuan respectively [6] Fund Company Insights - Leading fund companies continued to see net inflows into their ETFs, with E Fund's ETFs reaching a total scale of 826.73 billion yuan, reflecting an increase of 226.08 billion yuan since 2025 [8] - On November 7, specific ETFs such as the Securities Insurance ETF and Hong Kong Internet ETF saw net inflows of 230 million yuan and 180 million yuan respectively [8] Market Outlook - E Fund's index research department suggests that the pressure on the stock market from fundamentals is limited, and the current liquidity environment may support valuations, indicating a potential continuation of a liquidity bull market [9]

在投资的广袤版图上，有人深耕一域，成为某类资产的专业猎手；有人纵览全局，放眼全球资产，成为多元资产配置的掌舵人。东方红资产管理的FOF基 金经理陈文扬，无疑属于后者。 陈文扬对跨市场、多类型资产研究深入，从不拘于单一市场，而是以多元资产配置为经纬，以精选基金为枢纽，为投资者构建能抵御风浪、亦能捕捉机遇 的产品——FOF。他的视野，跨越股票、债券、商品、黄金等领域，在宏观的叙事与微观的价值间，寻找珍贵的"更优解"。11月10日至21日，东方红资产 管理新推出由陈文扬管理的稳健型FOF——东方红欣恒稳健3个月持有混合FOF（A类025909、C类025910），以绝对收益策略来开展多元资产配置，追求 长期稳健表现。 投资研究以广度见长 且具有深度 先锋集团创始人约翰·博格曾说过："在投资中，分散化并持有是唯一的真理。你永远无法预测哪个资产类别会表现最好。" 在FOF的管理中，东方红FOF团队有一套完善的流程，从设计策略、选资产、选中观行业、再选基金、最后落地成一个具体的FOF组合。因为要研究和投 资的资产品种较多，所以会侧重团队作战，充分发挥FOF团队的研究能力，基金经理作为一个中枢角色去负责FOF的管理。 根据 ...

Core Insights - The People's Bank of China has resumed public market treasury bond trading operations in October after a suspension earlier in the year, indicating a shift in monetary policy [1] - In October, the central bank injected 20 billion yuan into the market, which is seen as a positive signal for the bond market [1] - Market experts believe that the resumption of operations will benefit long-term interest rate bonds and "fixed income+" investment products, suggesting that investors should seize the investment opportunities [1]

Core Points - The Chinese Ministry of Commerce has decided to suspend countermeasures against five U.S. subsidiaries of Hanwha Ocean Co., Ltd. for one year, effective from November 10, 2025, in response to the U.S. decision to suspend its Section 301 investigation measures against China's maritime, logistics, and shipbuilding industries for the same duration [1][2]. Group 1 - The U.S. announced on November 9, 2025, that it would suspend its Section 301 investigation measures against China's maritime, logistics, and shipbuilding industries starting November 10, 2025 [2]. - The decision to suspend countermeasures is based on the "Anti-Foreign Sanctions Law of the People's Republic of China" and related regulations [2].

为落实2025年中美吉隆坡经贸磋商达成共识，经国务院批准，自2025年11月10日13时01分起，与美方暂 停实施对华海事、物流和造船业301调查最终措施同步暂停实施《交通运输部关于对美船舶收取船舶特 别港务费的公告》（交通运输部公告2025年第54号）、《交通运输部办公厅关于印发<对美船舶收取船 舶特别港务费实施办法>的通知》（交办水〔2025〕59号）、《交通运输部关于启动航运业、造船业及 相关产业链供应链安全和发展利益受影响情况调查的公告》（交通运输部公告2025年第55号）1年。 交通运输部网站10日发布关于暂停对美船舶收取船舶特别港务费、暂停开展航运业造船业及相关产业链 供应链安全和发展利益受影响情况调查的公告： ...