Core Points - Changcheng Technology has terminated its plan for a change in control after discussions with its actual controllers did not reach a consensus on key matters [2] - The company's stock will resume trading on November 10, 2025, following a suspension that began on November 3, 2025, due to uncertainties surrounding the control change [6][5] Company Overview - The actual controllers, Gu Linxiang and Shen Baozhu, were involved in discussions regarding a share transfer that could lead to a change in control [6] - Gu Linxiang holds 18.75% of the shares, while Shen Baozhu holds 14.54%, together controlling approximately 58.35% of the company through their holdings and Lake Changcheng Electronics Technology Co., Ltd [7] - Changcheng Technology was listed on April 10, 2018, and focuses on the research and production of electromagnetic wire products used in various industries, including new energy, home appliances, industrial motors, automotive electronics, power tools, and instruments [7] Financial Performance - For the first three quarters of 2025, the company reported a revenue of 9.44 billion yuan, a year-on-year decrease of 0.7%, while the net profit attributable to shareholders increased by 13.8% to 215 million yuan [7] - Prior to the suspension, the stock price was 26.53 yuan per share, with a total market capitalization of approximately 5.477 billion yuan [7]

Core Viewpoint - Changcheng Technology has terminated its plan for a change in control after discussions with its actual controllers did not reach a consensus on key matters [2][7]. Summary by Sections Control Change Plan - The actual controllers of Changcheng Technology, Gu Linxiang and Shen Baozhu, were planning a share transfer that could lead to a change in control, but the discussions were inconclusive, leading to the termination of the plan [6][8]. Stock Suspension and Resumption - The company's stock was suspended from trading on November 3, 2025, due to the uncertainty surrounding the control change [6][8]. - The stock will resume trading on November 10, 2025, following the termination of the control change plan [2][7]. Shareholding Structure - Gu Linxiang holds 18.75% of the shares, while Shen Baozhu holds 14.54%, together controlling approximately 33.29% of the company. Including their control through Huzhou Changcheng Electronics Technology Co., Ltd., they effectively control about 58.35% of the company [9]. Financial Performance - For the first three quarters of 2025, Changcheng Technology reported a revenue of 9.44 billion, a year-on-year decrease of 0.7%, while the net profit attributable to shareholders was 215 million, an increase of 13.8% year-on-year [9]. Market Information - Prior to the suspension, the stock price was 26.53 per share, with a total market capitalization of approximately 5.477 billion [10].

据中国驻欧盟使团微信公众号8日消息，驻欧盟使团就欧洲议会允许萧美琴等"台独"头面人物在欧洲议 会大楼进行"台独"分裂活动答记者问。 问：据报道，11月7日，反华组织"对华政策跨国议会联 盟"（IPAC）在欧洲议会大楼召开年会，萧美琴等"台独"头面人物出席该年会并发表演讲。请问中方对 此有何评论？ 答：11月7日，反华组织"对华政策跨国议会联盟"（IPAC）在欧洲议会大楼召开年会。欧 洲议会不顾中方强烈反对和严正交涉，允许萧美琴等"台独"头面人物进入欧洲议会大楼出席年会并进 行"台独"分裂活动，此举严重损害中方核心利益，严重违反一个中国原则，严重干涉中国内政，严重冲 击中欧政治互信。中方对此表示强烈愤慨、坚决反对，已向欧方提出严正交涉。 台湾问题事关中国主 权和领土完整，是中国核心利益中的核心，是一条不可逾越的红线。一个中国原则是国际社会普遍共识 和国际关系基本准则，也是中欧建立和发展外交关系的前提和基础。中方再次严正敦促欧方恪守一个中 国原则，停止为"台独"行径撑腰张目，停止向"台独"分裂势力发出任何错误信号，采取切实措施消除恶 劣影响，以实际行动尊重支持中方核心利益，维护中欧关系大局。 300950，终止重 ...

Core Insights - Tesla has launched the Model Y Long Range Rear-Wheel Drive version in China, starting at a price of 288,500 yuan, with an expected delivery time of 2 to 4 weeks and various promotional offers [1][5]. Group 1: Product Launch and Specifications - The new Model Y Long Range Rear-Wheel Drive features a CLTC range of 821 kilometers, a 0-100 km/h acceleration time of 5.6 seconds, a top speed of 201 km/h, and is equipped with a 78.4 kWh battery [5]. - The Model Y lineup now includes four variants: Rear-Wheel Drive (starting at 263,500 yuan), Long Range Rear-Wheel Drive (starting at 288,500 yuan), Long Range All-Wheel Drive (starting at 313,500 yuan), and the six-seat Model Y L (starting at 339,000 yuan) [5]. Group 2: Market Strategy and Sales Performance - Tesla has accelerated the release of new models this year, with multiple price reductions, including the launch of the refreshed Model Y in January and the Model 3 Long Range Rear-Wheel Drive in August [5]. - In Q3 2025, Tesla's global delivery volume increased by 7.4% year-on-year to 497,000 units, although total global deliveries for the first three quarters saw a decline of approximately 5.9% year-on-year [5]. Group 3: Regional Sales Trends - In October, Tesla sold only 750 vehicles in Germany, marking a year-on-year decline of 53.5%, with cumulative sales for the first ten months down 50.4% [6]. - Sales in several European countries, including Spain and the Netherlands, also experienced significant declines in October [6]. Group 4: Strategic Shift - Amidst ongoing global sales challenges, Tesla is shifting its business focus from electric vehicles and energy to artificial intelligence and robotics, as indicated in its "Fourth Chapter of the Master Plan" released in September [6]. - Elon Musk emphasized that autonomous driving and the Optimus robot are the company's top priorities, projecting that approximately 80% of Tesla's future value will derive from the Optimus robot [6].

Core Viewpoint - Tesla has launched the Model Y Long Range Rear-Wheel Drive version in China, priced at 288,500 yuan, with a delivery estimate of 2 to 4 weeks, and offers various promotional benefits [2][6]. Group 1: Model Variants and Pricing - The Model Y lineup now includes four variants: Rear-Wheel Drive (starting at 263,500 yuan), Long Range Rear-Wheel Drive (starting at 288,500 yuan), Long Range All-Wheel Drive (starting at 313,500 yuan), and the six-seat Model Y L (starting at 339,000 yuan) [4]. - Tesla has accelerated the release of new models this year, including the refreshed Model Y in January and the Long Range Rear-Wheel Drive Model 3 in August [4]. Group 2: Sales Performance - In Q3 2025, Tesla's global delivery volume increased by 7.4% year-on-year to 497,000 units, although total global deliveries for the first three quarters saw a decline of approximately 5.9% year-on-year [4]. - In October, Tesla sold only 750 vehicles in Germany, marking a 53.5% year-on-year decline, with cumulative sales for the first ten months down 50.4% [4]. Group 3: Strategic Shift - Amidst ongoing global sales challenges, Tesla is shifting its business focus towards artificial intelligence and robotics, as indicated in its "Master Plan Part 4" released in September [5]. - Elon Musk stated that autonomous driving and the Optimus robot are the company's top priorities, projecting that about 80% of Tesla's future value will derive from the Optimus robot [5]. Group 4: Vehicle Specifications - The newly launched Model Y Long Range Rear-Wheel Drive features a CLTC range of 821 kilometers, a 0-100 km/h acceleration time of 5.6 seconds, a top speed of 201 km/h, and is equipped with a 78.4 kWh battery [6].

Core Viewpoint - The company, Degute, plans to terminate the acquisition of 100% equity in Haowei Technology due to difficulties in reaching an agreement on key terms of the transaction, which was intended to create a second growth curve for the company [2][4][6]. Group 1: Transaction Details - Degute announced the termination of the major asset restructuring transaction, stating that it could not form a satisfactory plan for all parties involved within the effective time window [2][6]. - The transaction was initially planned to be executed through the issuance of shares and cash payment to acquire Haowei Technology, aiming to expand into telecom software development and services, cloud and AI software development, and industry digital solutions [2][10]. - The company has committed not to plan any major asset restructuring for at least one month following the announcement of the termination [7]. Group 2: Stakeholder Information - Haowei Technology has no controlling shareholder or actual controller, with a total of 14 shareholders. The top three shareholders are Nanjing Xiruang Enterprise Management Partnership (27.83%), ZTE Corporation (27.62%), and Nanjing Jiayuteng Enterprise Management Partnership (13.85%) [7][8]. - The major stakeholders have not reached an agreement on the valuation for the restructuring, performance commitments, and compensation terms [4][6]. Group 3: Financial Performance - Degute's net profits for the years 2022 to 2024 are projected to be 65.58 million, 38.66 million, and 96.72 million yuan respectively, with non-recurring net profits of 57.78 million, 33.63 million, and 93.44 million yuan [10]. - Haowei Technology's net profits for 2023, 2024, and the first quarter of 2025 are expected to be 202 million, 205 million, and -133 million yuan respectively, indicating potential volatility in earnings [15]. Group 4: Industry Context - The industry in which Haowei Technology operates shows seasonal revenue characteristics, primarily serving telecommunications, government, and energy sectors, which typically plan their product or service procurement annually, with acceptance of products generally occurring in the second half of the year [17].

Core Viewpoint - The company Deguot plans to terminate the acquisition of 100% equity in Haowei Technology due to the inability to reach an agreement on key terms of the transaction with the counterparties [1][2]. Group 1: Transaction Details - Deguot intended to acquire Haowei Technology through a combination of share issuance and cash payment, aiming to create a second growth curve for the company [1][4]. - The negotiation process has been ongoing, but Deguot and the counterparties have failed to agree on the transaction price and other core terms [2]. - The major shareholders of Haowei Technology include Nanjing Xiruan Enterprise Management Partnership, ZTE Corporation, and Nanjing Jiayuteng Enterprise Management Partnership, holding 27.83%, 27.62%, and 13.85% respectively [3]. Group 2: Financial Performance - Deguot's net profit for the years 2022 to 2024 is projected to be 65.58 million, 38.66 million, and 96.71 million respectively, with non-recurring net profit figures of 57.76 million, 33.63 million, and 93.44 million [4]. - In the first three quarters of 2025, Deguot's net profit decreased by 26.39% to 72.26 million, while the non-recurring net profit fell by 31.86% to 65.24 million [4]. Group 3: Haowei Technology Overview - Haowei Technology is an international software and information technology service provider, focusing on digital transformation solutions based on cloud computing, big data, and artificial intelligence for telecom operators, government, and enterprise clients [5]. - The company has three main business lines: telecom software development and services, cloud and AI software development and services, and industry digital solutions, with significant advantages in overseas business [5]. - Haowei Technology's net profit for 2023, 2024, and the first quarter of 2025 is projected to be 202 million, 205 million, and -13.3 million respectively [6].

Group 1 - Deguot plans to terminate the acquisition of 100% equity in Haowei Technology due to difficulties in reaching a consensus on key terms with the transaction parties [2][4][7] - The proposed acquisition aimed to diversify Deguot's business from energy-saving equipment manufacturing to telecom software development, cloud and AI software services, and industry digital solutions [9][12] - As of November 7, Deguot's stock price was 32.66 CNY per share, with a total market capitalization of 4.98 billion CNY [2] Group 2 - Deguot's net profit for the first three quarters of 2025 decreased by 26.39% to 72.26 million CNY, while the net profit excluding non-recurring gains and losses fell by 31.86% to 65.24 million CNY [11][12] - Haowei Technology, which has no controlling shareholder, has three major shareholders: Nanjing Xiru, ZTE Corporation, and Nanjing Jiayuteng, holding 27.83%, 27.62%, and 13.85% respectively [8][9] - Haowei Technology reported net profits of 202 million CNY, 205 million CNY, and -13.3 million CNY for the years 2023, 2024, and the first quarter of 2025 respectively [13]

Group 1 - The core viewpoint is that President Trump expresses a desire to continue discussions with President Putin in Budapest regarding the Russia-Ukraine conflict and other issues [1][2][3] - Trump and Hungarian Prime Minister Orban believe that the Russia-Ukraine conflict will end soon [2][3] - Discussions between Trump and Orban are expected to cover trade, energy, and the situation in Ukraine [3] Group 2 - Following a phone call on October 16, Trump announced a planned meeting with Putin in Budapest, which was later canceled due to concerns about the lack of productive outcomes [3] - Russian presidential aide Ushakov indicated that while the timing of the meeting remains unclear, there is still interest in holding it [3][6] - Kremlin spokesperson Peskov noted that mutual distrust between Russia and Ukraine is a significant barrier to resolving the crisis [5]

【导读】本周美股三大股指累跌，走出4月以来最糟糕一周；科技股拖累纳指走低，微软8连跌；美政府停摆影响进一步扩大，在大量官方数据真空下，美 联储12月降息争论愈发激烈 美东时间11月7日周五，美国三大股指低开后延续跌势，尾盘拉升，科技股拖累纳指走低，微软录得8连跌。本周，三大指数均累跌，走出4月初贸易政策 冲击以来最糟糕的一周。 黄金市场本周延续剧烈震荡，在美国政府长期停摆和规避美股风险等背景下，11月7日金价有所反弹，现报4000美元/盎司，本周累计微跌0.06%。 美政府"停摆"进入第39天。大量官方数据无法按计划公布，民主党和共和党双方分歧导致谈判陷入困境。当日，民主党提出结束美国政府停摆新方案，但 遭共和党人拒绝，政府停摆影响进一步扩大。 在数据真空的背景下，美联储内部关于12月是否降息的争论愈发激烈。分析师预测降息概率出现分歧，最新数据显示，美联储12月降息25个基点的概率为 66.5%，维持利率不变的概率为33.5%。 本周美国三大股指累跌 板块方面，科技股回调拖累纳指，万得美国科技七巨头指数跌0.56%，特斯拉跌3.71%，英伟达尾盘转涨，此前一度跌近5%。本周，万得美国科技七巨头 指数已累跌3. ...