11月7日，交通银行（601328）2025年三季度业绩说明会在全景路演成功举行。有投资者提问：请问公 司在资产质量管控上采取了哪些精准有效的措施？ 交通银行董事会秘书何兆斌回复：三季度，交行资产质量继续保持稳中向好态势，截至9月末，集团不 良贷款余额为1,146亿元，较6月末减少5亿元；不良贷款率1.26%，较上年末下降0.05个百分点，较6月 末下降0.02个百分点。9月末集团口径拨备覆盖率209.97%，较上年末增加8.03个百分点，拨备水平合理 适度。 何兆斌表示，今年以来，公司加强分析研判精准施策，着力提升风险管理精细化水平，持续完善减退加 固管理机制，优化资产质量前瞻预测及管控；加强重点领域风险防控，强化统筹协调，支持重点省份化 债和平台转型发展，全集团地方债务规模稳步压降；统筹推进房地产业务发展和风险防控；推广上线零 售信贷及小企业风险分析评估工具，对高风险产品和客群实施精准定位。总的看，公司有信心保持年末 资产质量水平稳定，延续"十四五"期间不良率总体逐年下降的良好态势。（全景网） 更多业绩说明会详情，请点击：https://rs.p5w.net/html/176102622472649.sh ...

11月7日，交通银行（601328）2025年三季度业绩说明会在全景路演成功举行。有投资者提问：请问在 息差管理和负债结构优化方面有哪些关键策略？ 更多业绩说明会详情，请点击：https://rs.p5w.net/html/176102622472649.shtml 交通银行董事会秘书何兆斌回复：交行三季度单季净息差环比持平，呈现企稳迹象。三季度集团继续强 化市场利率走势研判，合理调整业务结构，动态优化定价策略，同时存款利率市场化调节机制作用持续 发挥，推动集团单季息差基本持平。 何兆斌称，在息差管理方面，公司聚焦结构、定价及客户三方面，多措并举做好息差管理工作。一是持 续优化集团资产负债结构；二是持续强化精细化定价管理；三是持续推进客户基础提升工程。在负债结 构优化方面，公司高度重视资金来源与运用平衡，通过抓源头客户提升，夯实存款客户基础；开展专项 营销、精准营销，提升客户增存效率；同时积极促进消费提升，加强低成本资金沉淀。（全景网） ...

Group 1 - The strategic cooperation agreement between Lixin Accounting Firm and Kingdee Software focuses on creating a digital ecosystem for enterprises, emphasizing "digital-driven, ecological win-win" [1] - The partnership aims to integrate global resources and local technological advantages, targeting areas such as "intelligent audit innovation," "digital enterprise risk management," and "deep integration of financial and operational data" [1][2] - Lixin's President Yang Zhiguo highlighted that the collaboration combines Lixin's global service network with Kingdee's leading digital platform, providing a "deep customs guide" for international clients entering China and a "global navigation system" for Chinese enterprises going abroad [2] Group 2 - Lixin Accounting Firm is one of the most influential professional service institutions in China, with a service network covering major global economies, providing comprehensive support for multinational enterprises [2] - Kingdee International has over 30 years of experience in enterprise management digitalization, serving more than 7.4 million enterprises globally with its core products [2] - The partnership is positioned as a response to the current economic environment, leveraging digitalization as a core engine for high-quality development, as outlined in China's 14th Five-Year Plan [2][3] Group 3 - The collaboration aims to provide integrated support for enterprises' digital transformation needs across various sectors, including finance, supply chain, and intelligent manufacturing [3] - The partnership signifies a deep integration of Chinese professional services with international leading digital technologies, promoting collaborative innovation across the industry [3] - The cooperation is framed as a commitment to connecting China with the world through digitalization, helping enterprises seize opportunities and tackle challenges in the global landscape [3]

10月14日复牌后，亚太药业（002370.SZ）在资本市场掀起一阵旋风。截至11月6日，公司股价累计涨幅 达52.38%，更是多次登上龙虎榜，并出现单日25亿元的放量成交。 分析其上涨动因，亚太药业拟变更实控人无疑是最大的影响因素。据公开资料，公司新实控人为医药产 业互联网平台"药兜科技"董事长兼创始人邱中勋先生，新实控人的入主无疑为亚太药业未来的发展打开 了新的想象空间。同时，公司还公告向新控股股东定向增发7亿元，募集资金将全部用于公司新药研发 项目，这也意味着亚太药业在稳固传统仿制药业务的基础上，全力加速向创新驱动型的创新药研发企业 转型。 在医药行业变革的大潮中，这家已有30余年历史的老牌药企，正通过"产业协同+创新研发"的双轮驱 动，试图走出一条从仿制药红海到创新药蓝海的突围之路。 传统业务：集采保障与现金流平衡 近期，在第十一批国家药品集采中，亚太药业的注射用头孢唑肟钠（规格：1.0g）已拟中选。2024年， 该产品实现销售收入1369.65万元，占公司营业收入的3.38%。后续，如亚太药业可以和药兜科技成功协 同，药兜科技的营销网络和生态将有助于亚太药业拓宽销售渠道，链接更多医药终端，促进公司相 ...

广立微是领先的集成电路EDA软件与晶圆级电性测试设备供应商，自成立以来，始终秉承持续技术创 新的发展理念为客户不断创造价值。公司专注于芯片成品率提升和电性测试技术，提供EDA软件、电 路IP、WAT测试设备、集成电路数据分析软件以及与芯片成品率提升技术相结合的全流程解决方案，主 要用于集成电路先进工艺开发、芯片量产工艺监控和智能制造领域，能够帮助客户缩短产品开发周期， 提升集成电路制造工艺水平和生产效能。经过多年发展，公司已经成为国内外多家大型集成电路制造与 设计企业的重要合作伙伴，相关产品和服务已涵盖国内外主流晶圆厂的多个工艺节点。 日前，深圳证券交易所公布深市上市公司2024-2025年度信息披露工作评价结果，广立微（301095）获 评最高评级"A"级，这也是公司连续第2年获此殊荣。 在夯实技术实力与市场地位的同时，广立微高度重视公司治理与信息披露质量。公司始终持续加强投资 者关系管理，不断拓展资本市场沟通的广度与深度，以线上/线下调研、业绩说明会、互动易、股东大 会等多种形式与各类投资者保持沟通，让投资者充分认知公司所处的行业特征、公司业务等有助于投资 者决策的信息，丰富投资者参与公司的治理机会和渠道 ...

Core Viewpoint - The issuance of the "Shenzhen Action Plan for Promoting High-Quality Development of Mergers and Acquisitions (2025-2027)" marks a significant step towards accelerating the mergers and acquisitions market in Shenzhen, aiming to enhance its position as a global innovation capital formation center [1][4]. Policy Implementation - The "Action Plan" aligns with national policies supporting mergers and acquisitions, such as the "New National Nine Articles" and "Mergers and Acquisitions Six Articles," providing a solid policy foundation for market reform [4]. - Shenzhen aims to achieve a total market capitalization of over 20 trillion yuan for listed companies by the end of 2027, cultivate 20 companies with a market value of over 100 billion yuan, and complete over 200 merger projects with a total transaction value exceeding 100 billion yuan [4]. Industry Focus - The plan emphasizes the "20+8" industrial clusters, which include strategic emerging industries like integrated circuits, artificial intelligence, new energy, and biomedicine, as well as future industries such as synthetic biology and quantum information [5]. - It supports leading companies in these sectors to engage in upstream and downstream mergers and acquisitions to enhance their technological capabilities and market position [5]. Financial Support - The plan introduces various financial innovations to support mergers and acquisitions, encouraging the use of cash, shares, and convertible bonds for financing [6]. - It promotes bank loans and private equity funds to provide stable funding for mergers and acquisitions, creating a "patient capital" system to support long-term corporate growth [6][7]. Cross-Border Integration - The plan leverages Shenzhen's geographical advantage to connect with Hong Kong's capital market, facilitating cross-border mergers and acquisitions [8]. - It encourages leading enterprises to list or refinance in Hong Kong, enhancing the efficiency of cross-regional mergers and acquisitions [8][9]. Initial Success - The first merger following the new policy was announced by Shahe Co., which plans to acquire 70% of Shenzhen Jinghua Electronics, marking a significant shift from real estate to technology [10][12]. Future Outlook - The new policy is expected to foster the development of globally competitive enterprises and enhance the resilience of industrial chains, driving the transformation towards high-end, intelligent, and green industries [13]. - Shenzhen aims to become a key hub for mergers and acquisitions globally, attracting more domestic and international capital and high-quality enterprises [13][14].

Core Insights - Zhongcheng Consulting successfully listed on the Beijing Stock Exchange, marking a new chapter in its development in the capital market [3] Group 1: Company Positioning - The company has established a strong position in the engineering consulting service market, providing a range of professional technical services including engineering cost, bidding agency, project supervision and management, BIM services, and engineering design [4] - Zhongcheng Consulting has received multiple accolades, including being recognized as an innovative small and medium-sized enterprise in Jiangsu Province and ranking among the top engineering cost consulting firms in the region [4] Group 2: Market Outlook - The market outlook remains promising, with the scale of fixed asset investment in China expected to maintain reasonable growth, despite a potential slowdown in growth rates [5] - From 2020 to 2024, China's total fixed asset investment is projected to increase from 49.32 trillion yuan to 52.09 trillion yuan, providing significant growth opportunities for the engineering cost consulting industry [5] Group 3: Business Strategy - Zhongcheng Consulting has outlined a clear development strategy focusing on business model innovation, expanding its service network, and enhancing its market share through the establishment of branch offices [6][7] - The company aims to strengthen its talent development mechanisms and optimize its talent structure to support sustainable growth [7] - Following the successful issuance, the company's capital strength will significantly enhance, facilitating its digital transformation and improving overall competitiveness [7]

Core Viewpoint - The establishment of national standards for image recognition technology in smart home appliances, led by Haier, addresses existing technical gaps in the industry and promotes high-quality development of the sector [1][2]. Group 1: Industry Standards - The National Standardization Administration has approved the establishment of a new standard for image recognition technology in smart home appliances, filling a gap in domestic industry standards [1][2]. - The new standard will unify technical requirements and provide clear guidelines for product design, functionality, performance, safety, and reliability [2]. Group 2: Technological Advancements - Haier's practical applications of smart home technology, such as refrigerators that can identify food types and washing machines that categorize stains, have provided significant support for the standard's formulation [2]. - The implementation of the new standard is expected to enhance the accuracy of smart appliances and improve the overall consumer experience [2]. Group 3: Market Impact - The lack of unified standards has led to inconsistent product quality in the smart home appliance market, affecting consumer experience and hindering industry innovation [1]. - The new standard will lower R&D costs for companies and accelerate the integration of AI in home appliances, enhancing China's competitiveness in the global smart home market [2].

11月6日，四川省工商联发布"2025四川民营企业100强"榜单，通威集团首次登顶。 事实上，除通威股份外，四川多家民营上市公司亦位列其中，包括科伦药业、云图控股、天齐锂业、新 乳业、雅化集团、百利天恒、盛新锂能、东材科技、康弘药业等。 全景网了解到，通威股份作为全球硅料龙头，以其领先的成本优势与经营管理效能，在光伏行业"反内 卷"政策推动下，具备强劲盈利弹性。（全景网） 11月7日早间，通威集团旗下通威股份（600438）股价盘中涨停，一举创出年内新高。 据悉，"2025四川民营企业100强榜单"以2024年度企业营业收入为入围门槛：今年榜单入围门槛为39.45 亿元，较上年提升近2亿元。 ...

Core Viewpoint - Junsheng Electronics has officially listed on the Hong Kong Stock Exchange, marking a new phase in its "A+H" dual capital platform operation, with a total issuance of approximately 155 million H-shares at a price of HKD 22 per share, attracting significant cornerstone investments [1][2] Group 1: Company Overview - Junsheng Electronics holds a 22.9% market share in the global passive safety market, ranking second globally, and is the second largest in China and fourth globally in smart cockpit domain controllers [1] - The company reported a net profit of approximately CNY 410 million for Q3, a year-on-year increase of 35.4% and a quarter-on-quarter increase of 12.4%, with a net cash flow from operating activities of CNY 3.64 billion [1] - Junsheng Electronics has established a comprehensive global presence with 25 R&D centers and over 60 production bases, covering major automotive markets in Asia, Europe, and North America [6] Group 2: Business Strategy - The funds raised from the IPO will be used for R&D and commercialization of automotive intelligent solutions, enhancing smart manufacturing capabilities, optimizing supply chains, and expanding overseas business [2] - The company has positioned itself as a key player in the automotive parts sector, recognized by major international manufacturers such as BMW and Mercedes, and is capitalizing on the trend of automotive intelligence [2][3] - Junsheng Electronics is leveraging its existing technologies in automotive electronics to enter the robotics sector, developing solutions for intelligent system integration and energy management [4] Group 3: Market Potential - The penetration rate of L2-level passenger cars is projected to reach 62.58% by July 2025, with L3 and above expected to exceed 10% by 2030, indicating significant growth potential for Junsheng Electronics in the intelligent driving market [2] - The global humanoid robot market is expected to exceed USD 100 billion by 2030, with a compound annual growth rate of 35%, providing new growth opportunities for the company's robotics business [4] Group 4: Investment Value - The dual listing in Hong Kong is expected to enhance the company's valuation, as the market may adopt future-oriented valuation methods for technology-driven companies [7] - Junsheng Electronics' "Local for Local" strategy has proven effective in mitigating risks amid trade tensions, with a complete localized supply chain established in North America [6] - The company's dual focus on automotive intelligence and robotics is anticipated to attract long-term global investment, leading to a revaluation of its market position [7]