Core Viewpoint - Dongfang Precision Engineering announced a major asset sale plan to sell 100% equity of its corrugated cardboard production line business, including the Italian Fosber Group, for a total consideration of €774 million, aiming to focus on strategic transformation and technological innovation [1][2] Group 1: Asset Sale Details - The transaction will be executed in cash and will utilize a locked box mechanism for price adjustment, with the lockbox date set for December 31, 2024 [1] - The sale is part of the company's response to the national strategy for developing new productivity and aims to streamline operations by reducing international management scope [1] Group 2: Strategic Focus Post-Sale - Following the transaction, the company plans to increase investment in its water propulsion equipment business, particularly in high-power and new energy outboard motors, to enhance its competitiveness globally [2] - The company will allocate more resources to emerging fields such as embodied intelligence and robotics, aiming to build a future-oriented intelligent manufacturing equipment business system [2] - This asset optimization is expected to strengthen the company's financial position, improve operational efficiency, and lay a solid foundation for sustainable shareholder returns and high-quality development [2]

Group 1 - China UnionPay held a global partner conference on November 28, where it established cross-border payment cooperation with 11 key institutions, including Bank of China, Hong Leong Bank of Malaysia, OCBC Bank of Singapore, and Banco do Brasil [1] - The chairman of China UnionPay, Dong Junfeng, emphasized that breaking down payment barriers allows millions of small and micro businesses to access significant purchasing power globally through UnionPay's inclusive payment network, thus facilitating cross-border payments and invigorating global economic recovery [1] - China UnionPay aims to collaborate with local institutions to ensure all parties involved in account and acceptance sides can effectively contribute to expanding the cross-border payment market [1] Group 2 - The global economic and trade landscape has entered a new phase, with a consensus on building cross-border payment systems and promoting payment connectivity [2] - China UnionPay has expanded its cross-border payment cooperation from Asia to approximately 50 countries and regions worldwide, including South America and Africa, establishing a world-class payment connectivity network [2] - To adapt to current development trends, China UnionPay proposed a new inclusive and open "four-party model" by integrating wallet institutions, mobile manufacturers, acquiring service providers, and aggregating service providers into the traditional model [2]

中证报中证网讯(记者黄一灵)11月28日，同方全球人寿保险有限公司(以下简称"同方全球人寿")联合清 华大学经济管理学院中国保险与风险管理研究中心共同发布2025中国居民退休准备指数调研报告(以下 简称"报告")。 报告显示，居民养老金融选择整体呈"稳健为主、代际分层"特点。代际维度上，各代际均以低风险偏好 为共性，但生命周期位置决定其差异化选择：70后及以上更强调资金安全与商业健康险保障；80后、90 后在购房、育儿与养老之间寻求平衡，倾向低风险产品保底，对商业养老险与健康险需求均衡；00后勇 于尝试多元配置，更偏好高灵活性产品。个人养老金产品偏好整体呈"养老储蓄＞养老保险＞养老理财 ＞养老基金"的序列，高收入与高退休准备群体对养老保险偏好强于养老储蓄。居民对个人养老金产品 的流动性容忍度高于普通金融产品，且容忍度与所选产品的流动性特征大体匹配。 对此，清华大学经济管理学院讲席教授冯润桓建议：稳步完善多层次养老保障体系，增强个人养老金账 户的可及性与激励力度；持续推动金融知识普及和退休规划教育，促进"认知向行动"的转化；提升养老 金融产品的组合效应，实现与不同群体需求的更好匹配；推动健康管理与退休规划的协调 ...

Core Insights - The 2025 Global Developer Pioneer Conference and International Embodied Intelligence Skills Competition will be held from December 12 to 14 in Shanghai, featuring diverse segments such as "Arena," "Workshop," "Debate Square," and "Festival" to integrate technology competition, intellectual exchange, industry display, and science popularization [1][2] Group 1 - The "Arena" segment will showcase global top laboratories, renowned unicorn companies, and geek teams competing to demonstrate their advanced technological capabilities [1] - The "Workshop" will feature the Max Workshop for the robotics supply chain, providing developers with ready-made technology and components, effectively bringing the entire upstream and downstream industry chain on-site [1] - The "Debate Square" will host industry leaders discussing cutting-edge topics, while interactive displays will include robot performances in calligraphy, soccer competitions, and robot bands, showcasing the artistic creativity and athletic abilities of artificial intelligence [1] Group 2 - The competition focuses on real-world applications, thoroughly testing robots' service capabilities across various fields, including industrial production, social services, home assistance, emergency rescue, medical care, and artistic performance [2] - The event will feature six major thematic tracks and eight scenario competitions, covering 19 sub-events that encompass multiple scenarios of robots integrating into human life [2] - A simultaneous exhibition of the embodied intelligence supply chain will take place, allowing upstream and downstream companies to showcase their latest products, ensuring that any missing component for the robots can be found at supplier booths, thus promoting industry collaboration [2]

我国商业不动产规模庞大，资产持有主体拓宽直接融资渠道的需求强烈。如何借助REITs进行有效盘 活，实现投融管退的良性循环，是亟需回应的重要课题，而公募REITs作为资本市场盘活存量资产、服 务实体经济的利器，其产品功能属性与商业不动产天然契合。市场各方对推出商业不动产REITs的共识 高度统一、呼声持续高涨。 经过近五年的实践探索，我国公募REITs市场坚持市场化、法治化的发展方向，从无到有逐步发展成千 亿级的新兴市场。根据市场公开数据统计，截至目前，全市场共有77单产品上市，发行规模2070亿元 （含扩募），总市值2199亿元，行业首单、区域标杆渐次落地，示范性和规模性不断增强，市场容量持 续提升，运行整体平稳，投资者群体日益成熟，为推出商业不动产REITs奠定了坚实的制度基础、市场 基础和生态基础。 中证报中证网讯（记者 黄一灵）证监会11月28日消息，证监会研究起草《中国证监会关于推出商业不 动产投资信托基金试点的公告（征求意见稿）》，现向社会公开征求意见。 中国证券报记者从多方了解到，上交所等单位正在紧锣密鼓推进配套规则修订、系统改造和试点项目培 育等工作，相关规则同步征求市场意见。 业内人士认为，试 ...

Core Insights - The 2025 World Intelligent Manufacturing Conference opened in Nanjing, showcasing Kailong High-Tech's "Huilingjia" series of embodied intelligent robots, marking a significant transition from traditional environmental protection to future industries [1] - Kailong High-Tech's transformation is based on long-term technological accumulation, with a business structure that includes five integrated units focused on exhaust treatment, thermal management, new materials, detection, and catalysts [1][2] - The company has developed a four-legged robot for environmental applications, capable of carrying 80 kg and significantly improving detection efficiency by over 50% compared to manual methods [2][3] Environmental Applications - The core business of exhaust treatment systems meets national standards from Euro IV to Euro VI, with over 300 product varieties used in various vehicles [2] - The company has established a joint detection innovation center for humanoid robots, enhancing its capabilities in testing and certification [2] - Kailong High-Tech is involved in a national project for comprehensive environmental governance in the Beijing-Tianjin-Hebei region, developing a robot for identifying and regulating high-emission diesel vehicles [3] Industrial Applications - The company has made substantial progress in industrial manufacturing, signing a technical cooperation framework agreement with Foton Truck Manufacturing Center for seven key manufacturing scenarios [3] - Kailong High-Tech is collaborating with other major companies like Weichai Power and Cummins for logistics and component handling applications [3] Ecosystem Collaboration - The company is enhancing its industrial chain through ecological collaboration, with a stake in Wuxi Lingzhang Robot Technology, which won a startup competition for its dexterous hand technology [4] - The government is providing strong policy support for embodied intelligent robots, positioning them as a key growth point in future industries [4] Future Plans - Kailong High-Tech plans to focus on "technology landing" rather than mere technical showcases, aiming to make robots practical assistants in production and daily life [5] - The company intends to increase investment in robot technology research and capacity building by 2026, aiming for large-scale application of the "Huilingjia" series [5]

Core Viewpoint - The launch of the "Qiantan Riverside International Living Bay Area" marks a significant milestone in the development of Qiantan, showcasing a new paradigm for urban living along the Shanghai riverside [1] Group 1: Company Development - Lujiazui Group aims to become a "comprehensive urban operation service provider" and is focused on transforming the Qiantan planning blueprint from vision to reality [1] - The company will continue to concentrate on the "One River, One River" strategy to drive high-quality development in Qiantan [1] Group 2: Infrastructure and Amenities - Qiantan Riverside integrates various future industry clusters, including headquarters economy, biomedicine, energy conservation, and automotive technology [1] - The area boasts convenient transportation networks, including subways and roads, alongside distinctive commercial landmarks such as Taikoo Li Qiantan and Jingyao Qiantan [1] - Renowned luxury hotel brands like Waldorf Astoria, Kimpton, and Shangri-La have been introduced to the area [1] - The development includes cultural and recreational facilities such as the Oriental Sports Center, Qiantan 31 Performing Arts Center, and three major Qiantan Riverside parks [1]

谈及国内权益市场，袁宇认为，自去年9月以来，A股市场走出了一波强势复苏行情，充分展现了中国 作为全球第二大经济体的股市运行独立性与韧性。他分析称，这种独立性为国际投资者提供了宝贵的多 元化配置选择，也为各类投资者带来丰富的收益机会。对于明年的中国权益市场，他表示，当前中国经 济基础稳固，各类投资者对于股票市场的参与热情较高。量化投资机构在交投相对活跃的市场环境中， 更有机会发挥专业优势，为投资者创造持续稳定的收益。 展望行业未来，袁宇强调，量化机构必须坚守"极致创新和竞争"的行业基因。在AI技术快速迭代的今 天，公司将在因子开发、风险控制、交易执行等每一个细分领域做到精准提升和专业深化，通过持续不 断的技术迭代与应用创新，在富有挑战性的资管行业中保持有效运作与领先地位。 中证报中证网讯(记者王辉)11月28日，由中国证券报主办，华鑫证券、西岸集团联合承办，深圳数据经 济研究院提供独家学术支持的2025量化行业高质量发展大会暨金融科技.量化机构金牛奖颁奖典礼在上 海徐汇西岸举行。在本次大会上，知名量化私募鸣石基金创始人、总经理袁宇在接受中国证券报记者专 访时表示，人工智能(AI)技术正以前所未有的深度和广度，驱 ...

中证报中证网讯(记者罗京)11月27日，福莱新材（605488）在上海举行第三代电子皮肤新品发布暨投资 者交流会，正式推出集成"柔性材料+芯片+算法+大模型"的新一代触觉传感系统。 公司董事长夏厚君在发布会上表示，面对全球人工智能发展浪潮，福莱新材积极推动业务升级，以"电 子皮肤"产品为核心载体，开辟了以智能感知为代表的第二增长曲线。 公司表示，目前国内外已有数十家合作客户，部分客户已明确提出批量订单需求。 在资本运作方面，公司再融资项目已进入交易所问询阶段，并已提交问询函回复材料。据了解，公司本 次定增募投项目的建设内容包括标签标识印刷材料和电子级功能材料的扩产升级、研发中心升级项目以 及补充流动资金，募集总额为7.07亿元。 福莱新材表示，公司作为国内喷墨打印复合材料行业首家实现基膜、胶水、涂布一体化的企业，依 托"产业一体化、应用多元化"战略，持续强化产业链协同与多元化应用能力，构筑差异化竞争优势。同 时，通过研发中心升级项目强化公司核心研发能力，为主业发展提供持续创新动力，推动产品技术升 级。随着公司经营规模的不断扩大，对资金的需求日益增加，本次定增将为公司后续发展提供有力保 障，提升公司市场竞争力， ...

Core Insights - The conference held by Zhaoxin Integrated focused on the opportunities and challenges of digital and intelligent transformation in the AI era, gathering over 600 industry experts and representatives from key sectors [1] Group 1: Company Development and Strategy - Zhaoxin's chairman emphasized the importance of national policies and industry ecology in the company's growth, with a core goal of "independent and controllable, safe and reliable" [2] - The company plans to increase R&D investment and collaborate with partners to build a more competitive domestic innovation ecosystem [2] - Zhaoxin aims to advance its CPU product iterations and deepen the integration of its CPUs with cutting-edge technologies, marking a new phase of independent innovation [2] Group 2: Product Development and Market Application - Zhaoxin has successfully developed and mass-produced six generations of high-performance general-purpose processors, creating a complete product matrix covering "cloud-edge-end" [3] - The introduction of advanced Chiplet interconnect architecture in the KX-7000 and KH-50000 series processors enhances Zhaoxin's product offerings across various applications, including desktop computing and embedded systems [3] - Zhaoxin CPUs are widely deployed in critical sectors such as government, finance, education, energy, transportation, and healthcare, with significant market penetration in workstations and server products [3] Group 3: Strategic Partnerships and Industry Collaboration - A strategic partnership signing ceremony was held, focusing on the KH-50000 processor, with 11 leading industry firms entering into new agreements [4] - The collaboration aims to enhance the server industry chain, improving performance, reliability, and cost control for domestic innovation servers [4] - Zhaoxin is committed to advancing the domestic innovation industry and contributing to the construction of a digital China through strong partnerships [4]