经济观察网12月26日，商务部发布消息，2025年11月21日，巴西外贸秘书处在官方日报发布2025年第91 号公告，决定应巴西企业ICL Aditivos e Ingredientes LTDA申请，对进口自中国的磷酸(葡萄牙语：cido fosfórico grau alimentício)启动反倾销调查。涉案产品的南共市税号为2809.20.11。本案倾销调查期为 2024年4月至2025年3月，损害调查期为2020年4月至2025年3月。 ...

经济观察网12月1日，国家金融监督管理总局厦门监管局披露，厦门金美信消费金融因第三方合作机构 管理不到位、消费者权益保护工作不到位、个人消费贷款业务调查审查不审慎被罚款120万元，相关责 任人员庄雅兰、周忠德被警告。(编辑：金倩) ...

Core Insights - SAIC Motor Corporation (600104) reported November sales data, with total vehicle sales reaching 4.108 million units from January to November, representing a year-on-year increase of 16.4%, surpassing last year's total sales [1] Sales Performance - Domestic brand sales in Hong Kong reached 2.666 million units, showing a year-on-year growth of 25.7% [1] - New energy vehicle sales totaled 1.499 million units, reflecting a year-on-year increase of 38.8% [1] - Overseas market sales amounted to 969,000 units, with a year-on-year growth of 3.4% [1] Monthly Sales Breakdown - In November, domestic brand sales were 316,000 units, marking a year-on-year increase of 9.5%, with the total sales proportion of domestic brands rising to 64.9% for the first eleven months [1] - SAIC Passenger Vehicle sales exceeded 100,000 units in November, while SAIC-GM-Wuling and SAIC Maxus continued to show growth [1] - New energy vehicle sales in November reached 209,000 units, achieving a new monthly high for three consecutive months; the Zhiji brand also surpassed 10,000 units for three months in a row, with the new MG4 semi-solid model set for delivery in December [1] Overseas Market Growth - In November, SAIC's overseas sales were 107,000 units, reflecting a year-on-year increase of 13.9%, with a cumulative total of 969,000 units for the first eleven months [1] - The MG brand maintained a leading position in the European market, with 285,000 units delivered from January to October, achieving significant growth in markets such as Spain, France, and Poland [1]

经济观察网 12月1日，中国货币网披露，福建海峡银行拟发行2025年第一期绿色金融债券，基本发行规 模为10亿元，为3年期固定利率债券，募集资金将用于《绿色金融支持项目目录（2025年版）》规定的 绿色产业项目。经中诚信国际信用评级有限责任公司综合评定，本期债券信用等级为AA+，发行人主 体信用等级为AA+。（编辑：金倩） ...

经济观察网12月1日，中国货币网披露，湖州银行拟发行2025年小型微型企业贷款专项金融债券，基本 发行规模为20亿元，附不超5亿元超额增发权，期限为3年期，募资将全部用于发放小型微型企业贷款。 (编辑：金倩) ...

Core Insights - The article emphasizes the growing importance of ETFs in the capital market, highlighting their low fees, transparency, and flexibility as key advantages for investors seeking wealth management solutions [1] - Southern Fund is positioned as a leading player in the ETF market due to its comprehensive product offerings, top-tier research team, and advanced management systems [1] Comprehensive Product Layout - Southern Fund has developed a diverse product matrix since launching its first deep ETF in 2009, now managing 126 public index funds, including 66 ETFs, with a total scale exceeding 402.2 billion [2] - The Southern CSI 500 ETF (510500) is noted as the largest and most liquid equity ETF in the market, with a scale of 136.9 billion, serving as a core asset for broad-based investment [3] Focus on Niche Markets - Southern Fund targets new industries and technologies, including AI, semiconductors, and green finance, aligning with national strategies and providing investment channels for economic transformation [4] - The fund has launched various products reflecting shareholder returns, such as the Dividend Low Volatility 50 ETF and Cash Flow ETF, responding to the increasing demand for high-quality, stable assets [4] Top-tier Research Team - The passive index funds of Southern Fund maintain high tracking accuracy due to meticulous management and quantitative methods, supported by a highly qualified research team of 33 members, including 3 PhDs and 29 master's degree holders [5] - The team possesses diverse backgrounds in mathematics, computer science, and finance, ensuring comprehensive coverage of index product development and quantitative research [5] Intelligent Investment Management - Southern Fund has integrated AI and expert intelligence (EI) into its investment strategy, enhancing the precision of index management and risk control [7] - The fund's AI-driven platform facilitates intelligent applications such as market sentiment analysis and risk prediction, improving investor service and experience [7] Strategy Service System - A robust strategy service system is in place, offering asset allocation models, tactical trading, and customized support for both individual and institutional investors [8] - Southern Fund aims to strengthen its core competitiveness in the ETF sector by continuously enhancing its product offerings, management expertise, and intelligent services [8]

Core Insights - Meituan's Q3 earnings report highlights its resilience amid fierce competition in the food delivery market, maintaining a leading position in high-value orders despite significant losses [1][2][3] - Goldman Sachs maintains a "Buy" rating on Meituan, citing its strong execution capabilities and the current attractive stock price as key investment factors [1] User Metrics - Meituan's transaction user base has surpassed 800 million, with daily active users (DAU) increasing by over 20% year-on-year, and monthly transaction users for food delivery reaching a historical high [1][3] - The company holds over 70% market share in orders exceeding 30 yuan and over 66% in orders above 15 yuan, indicating strong market dominance in higher-priced segments [2][3] Financial Performance - In Q3, Meituan's core local business revenue (food delivery + in-store) was 67.4 billion yuan, remaining stable compared to the previous year, despite a slowdown in service marketing revenue growth [3] - Adjusted net loss for Q3 was 16 billion yuan, primarily due to losses in the core local business, but this loss is considered manageable compared to competitors [2][3] New Business Developments - Meituan's instant retail business has shown significant growth, with new user acquisition and transaction frequency both increasing [5] - The company has made notable progress in international markets, with its Keeta business achieving monthly profitability in Hong Kong ahead of schedule [5] Ecosystem and Community Support - Meituan has implemented comprehensive support for delivery riders, including pension insurance, welfare benefits, and housing support, covering over a million riders and their families [7][8] - The company has launched initiatives to assist merchants in navigating competitive pressures, including a 2.8 billion yuan support plan and upgrades to its merchant evaluation system [7] Technological Advancements - Meituan has invested 6.9 billion yuan in R&D in Q3, a 31% increase year-on-year, focusing on AI tools and applications to enhance service efficiency [5][6] - The company has expanded its drone delivery services, achieving over 670,000 commercial orders by September, showcasing its commitment to technological innovation [8]

经济观察网12月1日，中国货币网披露，唐山银行2025年绿色金融债券完成发行，债券简称"25唐山银行 绿债01"，实际发行总额10亿元，为3年期固定利率品种，按年计息，票面利率1.90%。(编辑：金倩) ...

此次纳入基于公司扎实的硬科技实力与显著改善的财务结构。作为国内实现超材料规模化量产的企业， 光启技术业绩持续增长，2024年营收净利双增，2025年前三季度营收已超去年全年。同时，公司近期完 成股权质押全面清零，控股股东质押比例归零，极大提升了机构投资者信心。 指数调入预计将带来显著的流动性溢价与估值体系重构，推动公司估值锚向科技龙头切换。随着株洲、 天津基地投产带来产能大幅提升，以及2025年披露订单金额创历史新高，公司发展动能强劲。 经济观察网 近日，中证指数公司与深交所调整核心指数样本，光启技术（002625.SZ）被一次性调入沪 深300、中证A50、中证A100及深证100四大核心指数，创下公司"四指联调"纪录。此举标志着这家超材 料龙头企业完成了从细分赛道领军者向A股市场公认核心资产的战略跨越。 MACD金叉信号形成，这些股涨势不错！ ...

信用指数排名前五的行业分别为金融业、电力热力燃气及水生产和供应业、水利环境和公共设施管理 业、科学研究和技术服务业、建筑业。半数行业信用指数较上月实现环比增长。文化、体育和娱乐业信 用指数增幅居各行业首位。房地产业信用指数连续3个月呈环比上升态势。 经济观察网据央视新闻消息，记者12月1日从市场监管总局了解到，今年10月，中国企业信用指数为 161.56，企业信用水平基本平稳。 ...