| 股票排行 △ | | | | | --- | --- | --- | --- | | 人气榜 | 涨幅榜 | 跌幅榜 | 成交额榜 | | 名称 | | 现价 | 涨跌幅 | | 阿里巴巴-W 9988.HK | | 159.000 | -3.87% | | 腾讯控股 0700.HK | | 630.000 | -3.30% | | 中芯国际 0981.HK | | 75.500 | -2.64% | | 小米集团-W 1810.HK | | 49.700 | -4.51% | | 泡泡玛特 9992.HK | | 251.600 | -3.08% | | 万科企业 | | 4.970 | -4.61% | | 2202.HK | | | | | 美团-W | | 98.550 | -3.10% | | 3690.HK | | | | 10月13日，港股低开，恒指跌2.5%，恒生科技指数跌2.43%。 科网股全线下挫，哔哩哔哩跌超5%，小米集团跌超4%，阿里巴巴、腾讯控股跌超3%；大金融板块普 跌，中国财险、国泰君安国际跌6%。 （头图由AI生成） ...

辛杰（资料图） 辛杰的突然辞职，进一步引发市场关于他个人去向的关注，此前市场消息称，9月中旬，辛杰在深圳参 会时被带走，此后一直未出现在深圳万科总部的岗位。截至10月13日，至今已有25天未公开露面。 10月13日早，万科（000002.SZ）发布公告称，公司召开董事会会议，会议选举黄力平为公司董事长， 辛杰辞去董事长职务；与此同时，黄力平被选举为公司董事长。 ...

本周内计划发布但同样可能延迟的数据包括：9月零售销售数据、9月生产者价格指数PPI（均于周四发 布），以及当周初请失业金人数；周五则将公布9月新屋开工数据与9月工业产出数据。 花旗分析师在报告中指出："受停摆影响，新数据供应稀缺，本月降息的可能性较大，且市场已完全消 化这一预期。"伦敦证券交易所集团（LSEG）数据显示，市场定价暗示美联储有望在10月29日的会议及 12月进一步降息。 编辑 | 格蕾丝 本周外盘看点 上周国际市场风云变幻，关税阴云再起，黄金再迎里程碑。美股全线下挫，道指周跌2.73%，纳指周跌 2.53%，标普500指数周跌2.43%。欧洲三大股指表现不佳，英国富时100指数周跌0.67%，德国DAX 30 指数周跌0.56%，法国CAC 40指数周跌2.02%。 本周看点颇多，市场持续关注美国政府停摆的相关进展以及美联储是否会释放进一步降息的信号。若停 摆持续，更多经济数据可能会延迟发布，此外多位美联储官员将发表例行讲话。在欧洲，通胀数据将影 响未来政策路径走向，英国与澳大利亚将公布关键就业数据。世界银行和国际货币基金组织（IMF）的 秋季年会召开，届时将公布最新经济展望。美股新财报季拉开帷 ...

正式担任万科掌舵者约9个月后，辛杰宣布辞任。 这位深铁集团派驻到万科的掌舵者临危受命，自今年1月起就主持万科集团全面工作，在深铁的支持下 保住了万科的信用，并推动了一场大规模的组织架构调整，减少管理层级，强化总部集权。但这一新变 化落地不久，主导这场变革的辛杰就离开了万科一把手的位置。 据万科披露，辛杰出生于1966年，1988年获沈阳工业大学工学学士学位；2005年获香港理工大学工商管 理硕士学位；现为正高级工程师、高级经济师。 辛杰曾在深圳市外贸集团、深圳市长城物业管理公司工作；1998年8月-1999年2月，任深圳市长盛实业 发展有限公司副经理；1999年2月-2004年12月，历任深圳圣廷苑酒店筹备组负责人，深圳市圣廷苑酒店 有限公司常务副总经理、总经理、董事长；2004年12月-2009年10月，任深圳市长城投资控股股份有限 公司副总经理，兼任深圳圣廷苑酒店有限公司董事长、总经理；2009年10月-2017年9月，历任深圳市天 健（集团）股份有限公司董事、总经理、党委副书记，董事长、党委书记。 2017年9月至今，辛杰任深铁集团党委书记、董事长；2020年7月起，任万科董事；2023年10月至202 ...

万科企业在港交公告，于2025年10月12日收到本公司董事长辛杰先生提交的书面辞职报告。辛杰因个人 原因申请辞任本公司非执行董事及董事长职务，辞任后将不再担任本公司任何职务。第二十届董事会第 二十四次会议选举黄力平担任董事长，任期自董事会审议通过之日起至本公司第二十届董事会任期届满 之日止。 此前，2025年1月27日，万科A公告称，因2024年度业绩预告亏损额较大，公司流动性遇到阶段性困 难。为有效化解风险，董事会决定充实公司经营管理力量，利用大股东深圳市地铁集团有限公司在内的 各方资源优势，进一步聚焦主业，加快融资模式转型。同时，董事会选举辛杰为公司第二十届董事会主 席，法定代表人由郁亮变更为辛杰。此外，董事会还同意聘任郁亮、李锋、华翠和李刚为公司执行副总 裁，田钧为公司董事会秘书。 公开资料显示，辛杰出生于1966年，他是万科的大股东——深圳地铁集团党委书记、董事长，此前已于 2021年任万科董事会董事，2023年任万科董事会副主席。 来源：港交所官网、长安街知事等 ...

10月13日，现货金价升至每盎司4060美元上方，再创历史新高。 ...

2025.10.12 10月9日，商务部发布2025年第61号公告，对含有中国成分的部分境外稀土相关物项实施出口管制。新 规明确，军事用途出口原则上不予许可。 最终用途为研发、生产14纳米及以下逻辑芯片或者256层及以上存储芯片，以及制造上述制程半导体的 生产设备、测试设备和材料，或者研发具有潜在军事用途的人工智能的出口申请，逐案审批。 其中部分条款自12月1日起实施，原产于中国的物项即日起执行。 值得注意的是，除管制规则外，公告附件采用wps格式，申请文件须以中文提交两大细节引发热议。据 悉，此前公告附件都是word或pdf格式。 本文字数：778，阅读时长大约1分钟 10月12日，"商务部公告附件首次改为wps格式"词条登上微博热搜。 据了解，WPS Office是由金山软件股份有限公司自主研发的一款办公软件套装。金山软件始创于1988 年，是国内最早的互联网软件企业之一。历经30余载，目前主要涉及金山办公、西山居、金山世游、金 山云等业务线。金山办公主要业务涉及WPS Office办公软件产品及服务的设计研发及销售推广；西山居 及金山世游从事游戏研发及运营；金山云提供安全、可靠、稳定、高品质的云计算服务 ...

Core Viewpoint - The high costs associated with owning and operating a car in Hong Kong make it a luxury choice, leading to a low vehicle ownership rate despite the presence of electric vehicles gaining popularity [1][3][5]. Summary by Sections Transportation Costs - Public transportation in Hong Kong is highly developed, making car ownership less appealing due to high costs associated with parking, fuel, and vehicle purchase [1]. - Parking costs in Hong Kong range from 30 to 40 HKD per hour, while fuel prices are stable at 27 to 30 HKD per liter, resulting in a fuel cost of 270 to 300 HKD for every 100 kilometers driven [1]. Vehicle Purchase Costs - The first registration tax for purchasing a vehicle in Hong Kong is significantly high, with rates escalating based on the vehicle's taxable value. For example, a vehicle priced at 300,000 HKD incurs a tax of approximately 198,000 HKD, making the total cost nearly 1 million HKD [3][5]. - The tax structure is as follows: 46% for the first 150,000 HKD, 86% for the next 150,000 HKD, 115% for the next 200,000 HKD, and 132% for any amount exceeding 500,000 HKD [5]. Electric Vehicle Market - Despite the high costs of traditional fuel vehicles, electric vehicles (EVs) are becoming increasingly popular in Hong Kong, with brands like Tesla and BYD leading the market. BYD surpassed Tesla in sales in the first half of 2025, with a total of 18,356 registered electric private cars, achieving a penetration rate of 68.6% [5][6]. - The Hong Kong government is actively promoting EV adoption through tax incentives, including a two-year extension of the first registration tax reduction for electric vehicles until March 31, 2026 [6]. Tax Incentives and Policies - The new tax reduction rules for electric vehicles include a cap on the maximum tax reduction amount, which has been lowered for general electric vehicle owners and those participating in the "one-for-one" program [6]. - The "one-for-one" program allows owners to scrap an old vehicle to receive a tax reduction on a new electric vehicle, with specific eligibility criteria that must be met [6][7]. Charging Costs - Electric vehicles also benefit from lower operational costs, with charging fees in Hong Kong being competitive. Charging can be billed at 30 HKD per hour or at a rate of 3 HKD per kilowatt-hour at fast charging stations [9].

Core Viewpoint - Wentech Technology's semiconductor business faces significant challenges due to a Dutch government order freezing operations and internal disputes among executives [1][10][12]. Group 1: Government Intervention - The Dutch government has issued a ministerial order preventing Wentech's subsidiary, Anshi Semiconductor, from making any adjustments to its assets, intellectual property, or operations for one year [10][12]. - Wentech claims that the government's actions are based on unfounded "national security" concerns and represent excessive geopolitical interference [1][10]. - The order is seen as a violation of EU principles of market economy and fair competition [1]. Group 2: Internal Disputes - Anshi's foreign executives have initiated legal proceedings to investigate the company, which has led to the suspension of the CEO appointed by Wentech [12][13]. - The Dutch court has appointed a foreign individual as a non-executive director with decisive voting rights, further complicating Wentech's control over Anshi [12][13]. Group 3: Financial Performance and Business Impact - In 2024, Wentech's semiconductor business generated revenue of 14.715 billion yuan, with a gross margin of 37.47% and a net profit of 2.297 billion yuan [17]. - Anshi Semiconductor reached a revenue peak of 2.36 billion euros in 2022 and has contributed 130 million euros in corporate income tax to the Netherlands over the past five years [17]. - Following Wentech's acquisition, Anshi has improved its global ranking in power discrete devices from 11th in 2019 to 3rd [17]. Group 4: Broader Industry Context - The current geopolitical climate poses challenges and opportunities for Chinese manufacturing, particularly in high-tech sectors [17]. - Wentech's global revenue reached 73.6 billion yuan in 2024, with overseas income accounting for 52.9 billion yuan, indicating its status as a global enterprise [18].

Core Insights - The report highlights the critical role of commercial health insurance in China's healthcare system transformation due to the accelerating aging population [1][2] - By 2024, the population aged 65 and above in China will account for 15.6%, entering a deep aging society, with projections indicating this will rise to 42% by 2070 [1] - The report emphasizes the need for a multi-tiered healthcare security system to address the "impossible triangle" of low cost, high accessibility, and high quality in healthcare services [2] Summary by Sections Aging Population and Healthcare Challenges - The aging population is leading to increased healthcare demands and challenges for the sustainability of basic medical insurance funds [1] - In Shanghai, the total reimbursement amount for three major diseases among the elderly is projected to reach 81.1 billion yuan by 2070 under a 3% annual medical inflation scenario [1] Multi-Tiered Healthcare Security System - The report proposes a "1+3+N" framework for a multi-layered healthcare security system, which includes a unified national medical insurance information platform, basic medical insurance, medical assistance, and major illness insurance [2] - The report stresses the importance of a diversified and multi-tiered security system to effectively address the challenges in the healthcare sector [2] Transition of Commercial Health Insurance - The transition of commercial health insurance from a "marginal supplement" to an "ecological collaborator" is essential for enhancing the healthcare system [2][3] - Key focus areas for this transition include covering costs not included in basic medical insurance, addressing specific demographic needs, and providing high-quality medical services [3] Addressing Core Issues in Commercial Health Insurance - The report identifies a core contradiction in commercial health insurance: the imbalance between profit models and social trust, which affects participation rates [3] - Recommendations include lowering entry barriers, expanding coverage, and leveraging data to enhance customer experience and trust [4] Future Development Strategies - The development of commercial health insurance should prioritize customer-centric approaches, long-term strategies, and risk-sharing mechanisms to create a sustainable model [4] - The core competitiveness of commercial health insurance will rely on its ability to provide supplementary value and achieve sustainable development through trust, scale effects, and policy collaboration [4]