政策引导 打响"车谷"产业名片 在中国车谷展示中心，一张1991年的老照片引人注目：当时为承接中法合资30万辆汽车项目，武汉经开 区正式破土动工，开工典礼的红色横幅醒目，黄土岗上推土机的履印刻下"车谷"的起点，讲述着武汉经 开区从"一辆车"到"一座城"的蜕变。 ● 本报记者 倪铭娅 熊彦莎 潮平两岸阔，风正一帆悬。 在武汉经开区这片产业沃土，智能网联汽车穿梭在街头，新能源整车工厂的机械臂高速运转，中试基地 里科研人员正攻克技术难关…… 近日，中国证券报记者走进这片以"车"闻名的热土，实地探访其从传统汽车产业向新能源智能网联汽车 产业迈进的转型历程，解析武汉经开区高质量发展的"车谷样本"。 车轮滚滚，浪潮奔涌。随着新能源与智能网联汽车浪潮来袭，武汉经开区以"车"为核，向产业链上下游 纵深突围。"一边是传统燃油车优势逐渐减弱，一边是新能源赛道起步稍慢，转型迫在眉睫。"武汉经开 区军山新城管理办公室党工委委员张于威说。 岚图汽车的黄金工厂与云峰工厂内，工业机器人、协作机器人、复合式机器人团结协作，AI视觉检测 系统精准扫描记录，两大生产基地平均每63秒即可下线一台车，有效承接持续增长的订单需求。 11月10日，岚图 ...

A05·资管时代 ...

Core Viewpoint - The "14th Five-Year Plan" emphasizes the acceleration of building a financial powerhouse, positioning the Chinese securities industry at a new historical starting point, with a focus on structural opportunities in emerging fields like technology innovation and green economy, driven by policy guidance and industrial upgrades [1][2][3] Industry Development Directions - The "14th Five-Year Plan" outlines two main directions for the securities industry: enhancing direct financing functions and promoting technological modernization to support new productive forces, while also broadening channels for residents' property income [2][3] - The securities industry is expected to play a crucial role in guiding capital towards strategic national priorities, fostering a new ecosystem of mutual advancement between industry and finance [2][3] High-Quality Development - High-quality development will be the main theme during the "14th Five-Year" period, with a focus on integrating advanced technologies like AI, renewable energy, and biomedicine into the financial sector [3][4] - The industry is urged to enhance institutional adaptability and market efficiency, with ongoing regulatory improvements to support strategic emerging industries [3][4] Focus on Core Business - The "14th Five-Year Plan" calls for optimizing the financial institution system, encouraging firms to focus on their core businesses and develop differentiated competitive advantages [4][5] - Smaller securities firms are advised to leverage their unique advantages in decision-making and customer service to establish professional barriers in specific sectors [4][5] Future Outlook - The securities industry is anticipated to undergo significant restructuring, with an emphasis on license governance and orderly mergers and acquisitions, while asset allocation and comprehensive services will become key differentiators [4][5] - Firms are encouraged to build collaborative ecosystems with technology companies and local governments to enhance their service capabilities and transition from "channel services" to "value services" [5][6] Strategic Areas for Growth - Securities firms should focus on three key areas: innovating products in technology finance, green finance, and inclusive finance; enhancing value discovery and pricing capabilities; and participating in the development of international financial centers [6][7] - The industry is expected to continue optimizing business collaboration mechanisms and deepen financial technology integration to support high-quality financial development [6][7]

"国债和特殊再融资债券等政府债券发行进度较快、企业债券发行热度较高，均对社会融资规模增长形 成重要支撑。"专家分析称。 据市场人士测算，今年1-10月，政府债券累计发行规模约22万亿元，比去年同期多近4万亿元，企业发 债融资也高于去年同期。"2025年超长期特别国债发行规模从去年的1万亿元扩大至1.3万亿元，首发时 间比去年提前约一个月，发行完毕时间也相应提前，体现出财政对经济增长及需求拉动的支持，也带动 了社会融资规模增长。"上述人士说。 数据显示，10月末，M2余额335.13万亿元，同比增长8.2%；狭义货币（M1）余额112万亿元，同比增 长6.2%。 中国人民银行11月13日发布的10月金融数据显示，广义货币（M2）和社会融资规模同比增速均保持在 较高水平，持续为经济回升向好创造适宜的货币金融环境；贷款规模保持合理增长，信贷结构持续优 化。 专家表示，未来央行将继续实施好适度宽松的货币政策，把握好力度和节奏，保持对实体经济较强支持 力度。 政府债券带动社融增长 社融方面，10月末社会融资规模存量为437.72万亿元，同比增长8.5%；前10个月社会融资规模增量累计 为30.9万亿元，比上年同期多3. ...

Group 1: Market Performance - A-shares and Hong Kong stocks saw strong gains in battery and automotive sectors, with CATL's stock price rising over 7%, approaching historical highs, and its market capitalization exceeding 1.9 trillion yuan [1] - Multiple battery ETFs and new energy vehicle ETFs experienced significant increases, with several battery ETFs rising by 70% year-to-date [1][3] - The lithium battery industry chain saw a broad increase, with battery ETFs (159755) rising by 7.14% and achieving a year-to-date increase of over 77% [3] Group 2: ETF Performance - Several battery-themed ETFs showed strong performance, with the largest battery ETF (159755) having a net inflow of 8.4 billion yuan this year, reaching a total size of over 15 billion yuan [3] - Metal-themed ETFs also performed well, driven by rising prices of lithium carbonate, silver, gold, and copper, with rare metal ETFs increasing by over 5% [5] - Bond ETFs, particularly those focused on innovative technology, saw high trading volumes, with several achieving transaction amounts exceeding 10 billion yuan [7] Group 3: Investment Trends - Gold, innovative technology boards, and non-bank financial sectors have become significant targets for capital inflow, with multiple related ETFs seeing net inflows exceeding 1 billion yuan this week [9][10] - The recent World Power Battery Conference resulted in 180 signed projects worth 86.13 billion yuan, indicating strong industrial development momentum in the new energy sector [11] - The demand for rare metals is expected to grow due to the needs of new energy vehicles and high-end manufacturing, highlighting the cyclical growth attributes and investment value of the rare metals sector [11]

基金申购门槛正进入"分角时代"。 近日，天弘基金宣布，将旗下50余只基金的申赎门槛统一调降至0.1元，其中包括多只主动权益基金。 今年来，陆续有基金公司发布类似公告，最低申赎份额以及最低持有份额降至0.01份。 记者调研了解到，这背后既有基金公司获客需求，也是渠道营销的"噱头"，同时也能够满足投顾策略的 配置需求。此外，一些发起式基金的操作，或暗藏着"保壳"的考量。 进入"分角时代" 据天弘基金近日公告，自11月10日起，调整旗下五十余只基金的最低申赎金额限制以及最低持有份额限 制，覆盖指数基金、主动权益基金、QDII、债券基金、LOF等多种产品类型。 公告称，投资者通过天弘基金直销平台及其他销售机构的首次申购单笔最低金额为0.1元，追加申购单 笔最低金额为0.1元。此外，持有人单笔赎回份额不得少于0.1份。如因红利再投资、非交易过户、转托 管、巨额赎回、基金转换等原因导致的账户余额少于0.1份等情况不受此限，但再次赎回时必须一次性 全部赎回。 今年8月，天弘基金还同步降低了天弘标普500发起式基金（QDII-FOF）、天弘中证银行ETF联接基金 的单笔最低申赎金额以及最低持有份额。 在货币基金领域，则有更多 ...

合富中国11月13日晚发布《股票交易风险提示公告》称，公司股价累计涨幅已严重偏离基本面，投资者参与交易可能面临较大风险。如公司股价进一步异 常上涨，公司可能申请停牌核查。 Wind数据显示，11月13日，合富中国再次涨停，走出13天12板，最新市值为88亿元。10月以来，公司股价累计涨幅达244.24%。 图片来源：Wind 13个交易日大涨230.84% 10月28日至11月13日，合富中国股价连续13个交易日累计涨幅达230.84%，其中12个交易日以涨停价收盘，并5次触及股价异常波动、3次触及严重异常波 动情形。 图片来源：公司公告 资料显示，合富中国的业务范围包括临床诊疗AI辅助系统、远程医疗推动优质医疗资源的下沉与共享、医院精细化运营管理、两岸医疗专家合作交流、 科研成果转化及商业落地、体外诊断试剂及耗材精细化管理服务等。 公司在公告中提示，当前公司股价涨幅已严重偏离基本面，存在市场情绪过热、非理性炒作风险。截至11月13日，公司静态市盈率为319.12倍，而同期所 属批发业的行业静态市盈率仅为30.88倍，股价严重偏离同行业上市公司合理估值。公司股票流通换手率亦出现较大波动情形，击鼓传花效应明显。 ...

Core Viewpoint - Lidman plans to acquire 70% of Xiansheng Xiangrui for 1.733 billion yuan, aiming to enhance its position in the biopharmaceutical industry and improve financial performance [2][5][7]. Group 1: Transaction Details - The acquisition involves cash payment for 70% equity of Xiansheng Xiangrui, with a transaction value of 1.733 billion yuan [2]. - The assets of Xiansheng Xiangrui exceed 50% of Lidman's total assets, constituting a major asset restructuring [3]. - Following the transaction, Lidman will consolidate Xiansheng Xiangrui into its financial statements [2][7]. Group 2: Company Background - Lidman specializes in the research, production, and sales of in vitro diagnostic reagents, diagnostic instruments, and biochemical raw materials [4]. - Xiansheng Xiangrui, a member of Xiansheng Investment Group, focuses on biopharmaceuticals, particularly in vitro diagnostic reagents and vaccines, with a strong market position in tuberculosis screening [4][5]. Group 3: Financial Impact - The acquisition is expected to enhance Lidman's revenue and net profit, improving its overall financial condition [6][7]. - Projected revenues for Xiansheng Xiangrui are 6.53 billion yuan, 5.82 billion yuan, and 2.28 billion yuan for 2023, 2024, and the first three quarters of 2025, respectively [6][7]. - Xiansheng Xiangrui has committed to achieving a minimum net profit of 1.66 billion yuan, 1.86 billion yuan, and 2.08 billion yuan for the years 2025, 2026, and 2027 [7].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 沪指再创反弹新高，3分钟便捷开户，把握投资先机！长江证券三大尊享福利>> 责任编辑：何俊熹 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 10月10日，保龄宝发布《关于实际控制人控制的企业增持公司股票计划进展公告》，截至该公告日，公 司实际控制人控制的企业松径投资累计增持129.94万股，占公司总股本的0.3418%，与公司2024年10月8 日承诺的"6个月内增持不低于5%、不超过10%"的增持计划大相径庭，增持时间一拖再拖，增持进度十 分缓慢。 松径投资的"信心"公告曾承诺6个月内增持5%—10%，如今增持计划为何进展"龟速"，在长达一年的时 间内，仅仅完成增持0.3418%？ 实控人被列"失信" 2024年10月8日，保龄宝发布公告称，公司实控人戴斯觉控制的企业松径投资计划于未来6个月内，以集 中竞价、大宗交易等方式增持公司股份5%至10%，对应股数1848.84万股至3697.67万股，且不设置固定 价格、价格区间。 这份"大手笔"增持计划，尤其是不设置固定价格和价格区间，在当时被市场解读为实控人对公司前景的 强烈看好，这一信心背书一度大大提升了中小投资者对公司的预期。 然而，增持计划的推进速度却堪称"龟速"。2025年3月22日，公司发布公告，松径投资累计增持数 ...