新华社北京10月28日电 中共中央关于制定国民经济和社会发展第十五个五年规划的建议 （2025年10月23日中国共产党第二十届中央委员会第四次全体会议通过） 中国共产党第二十届中央委员会第四次全体会议深入分析国际国内形势，就制定国民经济和社会发 展"十五五"规划提出以下建议。 一、"十五五"时期是基本实现社会主义现代化的关键时期 （1）"十四五"时期我国发展取得重大成就。"十四五"时期我国发展历程极不寻常、极不平凡。面对错 综复杂的国际形势和艰巨繁重的国内改革发展稳定任务，以习近平同志为核心的党中央团结带领全党全 国各族人民，迎难而上、砥砺前行，经受住世纪疫情严重冲击，有效应对一系列重大风险挑战，推动党 和国家事业取得新的重大成就。经济运行稳中有进，高质量发展扎实推进；科技创新成果丰硕，新质生 产力稳步发展；全面深化改革进一步推进，高水平对外开放不断扩大；全过程人民民主深入发展，全面 依法治国有效实施；文化事业和文化产业蓬勃发展，精神文化产品丰富多彩；民生保障扎实稳固，脱贫 攻坚成果巩固拓展；绿色低碳转型步伐加快，生态环境质量持续改善；国家安全能力有效提升，社会治 理效能增强，社会大局保持稳定；国防和军队建设 ...

| | 隆扬电子 | 51.50 | 在其HVLP5系列超低轮廓铜箔的开? 用上，该产品在全球仅有两家厂商穷 | | --- | --- | --- | --- | | | | | 产，另一家为日本三井化学 | | | 诺德股份 | 114.35 | 公司产品包括用于AI服务器的RTF和 等高端电子电路用铜箔 | | 高端铜箔 | 德福科技 | 132.74 | 公司布 HVLP、RTF 铜箔领域，拟叱 | | | | | 森堡公司切入英伟达供应链 | | | | | 公司聚焦高端铜箔的国产替代，反车 | | | 亨通股份 | 135.33 | (RTF)、低轮廓铜箔(LP)等已量产 | | | 铜冠铜箔 | 266.11 | HVLP4铜箔已完成客户全流程测试， | | | | | 2026年量产 | | | 世名科技 | 34.94 | 电子级碳氢树脂（PCH）产能A股第 （500吨/年），技术适配M9高端树 र्र्र 英伟达GB300芯片封装树脂的独家们 | | 树脂 | | | | | | 东材科技 | 187.74 | 商，M9树脂介电损耗等指标领先国 | | | | | 20% | | | 圣泉 ...

一、行情 10月28日，核聚变板块再度走强，安泰科技、东方坦业2连板，西部超导、永鼎股份等跟涨。 | 股票名称 | 最新价= | 涨跌幅 ◆ | 换手 | | --- | --- | --- | --- | | 安泰科技 000969.SZ 龙虎榜 ·解禁 | | 2 连板 | | | 公司旗下安泰中科是全球可控核聚变装置的核心供应商,实现了钨铜偏滤器、包层第一壁 | | | | | 等全系列涉钨产品的研发和生产，产品已应用于中国 EAST 装置及国际 ITER 项目等多个 | 22.98 | +10.00% | 4.7' | | 核聚变相关项目 | | 09:30 涨停 | | | 乐方铝业 000962.SZ 密集调研 | | 2 连板 | | | 参股公司西材院（参股28%）参与"国际热核聚变实验堆项目"（ITER项目），并为该项目 | 35.09 | +10.00% | 8.81 | | 供应增强热负荷第一壁材料的玻瓦产品,为全球首件最大的"人造太阳"核心部件中国制造 | | 09:48 涨停 | | | 积极贡献力量 | | | | | 西部超导 688122.SS 拟减持 | | | | | 公司 ...

Group 1: New Stock Offerings - Two new stocks are available for subscription on October 28 [1] - Delijia (Shanghai Main Board, 60309) has an issuance price of 46.68 yuan, a total market value of 16.8 billion yuan, and an issuance P/E ratio of 34.98 [2] - Delijia specializes in wind power transmission equipment, holding a 16.22% market share, ranking second in China and being a core supplier of wind turbine gearboxes globally [2][3] - The company has established long-term stable business partnerships with major players in the industry, including Goldwind Technology and Envision Energy [3] - The company aims to expand its production capacity with projects for large onshore and offshore wind turbine gearboxes [3] Group 2: Financial Performance - Delijia's revenue over the past three years shows a decline in 2024 to 3.715 billion yuan (-16.36%), an increase in 2023 to 4.442 billion yuan (+42.92%), and a significant rise in 2022 to 3.108 billion yuan (+76.42%) [3] - The company forecasts future growth driven by offshore wind power gearbox orders [3] Group 3: Other New Stock Offerings - Zhongcheng Consulting (North Exchange, 92000) has an issuance price of 14.27 yuan, a total market value of 723.7 million yuan, and an issuance P/E ratio of 9.69 [4] - The company focuses on providing engineering cost management, bidding agency, and consulting services, with a strong presence in the Yangtze River Delta region [4] - The company has shown consistent revenue growth over the past three years, with a projected revenue of 397 million yuan in 2024 (+19.00%) [4] Group 4: Additional Stock Offering - Dazhu Shang (Shanghai Main Board, 6033) has an issuance price of 12.55 yuan, a total market value of 5.858 billion yuan, and an issuance P/E ratio of 17.97 [5] - The company specializes in automotive body electronic control systems and has established long-term relationships with major automotive groups in China [5] - The company is actively developing new products, including multi-functional touch control systems for electric vehicles [5]

Market Overview - US stock markets experienced a collective surge, with the Dow Jones rising by 0.71%, Nasdaq increasing by 1.86%, and S&P 500 up by 1.23% [1] - Notable gains were seen in major tech stocks, including Tesla up by 4.31%, Google A up by 3.6%, and Nvidia and Apple rising by up to 2.81% [1] Company Developments - Qualcomm's stock surged by 11.09% following the launch of two AI chips and rack products, positioning the company to compete with Nvidia in the data center market [2] - Chinese assets saw a significant rally, with the Nasdaq Golden Dragon China Index rising over 2%, and popular Chinese stocks like Xpeng Motors and Baidu also experiencing gains [2] - Amazon is set to announce its largest-ever layoffs, affecting core departments including cloud computing [9] Currency and Commodities - The offshore RMB appreciated against the USD, trading at 7.1093, marking a significant increase of 168 points, the largest single-day gain since August 28 [3] - Copper prices reached a historic closing high, surpassing $11,000 for the first time [10] Strategic Partnerships and Innovations - NextEra Energy confirmed a collaboration with Google in the nuclear energy sector [6] - Nvidia and Deutsche Telekom plan to deploy a €1 billion data center in Germany [7] - The US Department of Energy has established a $10 billion partnership with AMD for supercomputing and AI initiatives [8] Domestic Developments - The People's Bank of China will resume open market transactions of government bonds to combat virtual currency speculation [12] - The China Securities Regulatory Commission announced plans to optimize margin trading regulations and enhance investor protection [12] - A significant project in quantum computing was awarded to Boson Quantum by China Merchants Bank [14] Sector Insights - The low-altitude economy is gaining traction, with Shandong Province issuing a comprehensive plan to develop low-altitude information infrastructure, aiming for a trillion-yuan industry cluster by 2027 [20][21] - The robotics sector is expected to benefit from advancements in physical AI, with Nvidia's global technology conference focusing on this area [22] Financial Highlights - Several companies reported impressive third-quarter earnings, including Tongfu Microelectronics with a net profit of 4.48 billion, up 95.08% year-on-year, and Huafeng Technology with a net profit increase of 135.40% [28]

Industry Insights - The appreciation of the RMB is expected to lead to a revaluation of Chinese assets, with the stock market likely to maintain a bullish atmosphere due to marginal economic stabilization and relatively loose liquidity [1] - Industries such as transportation, non-ferrous metals, petrochemicals, machinery, home appliances, electronics, and power equipment are anticipated to benefit from the appreciation of the RMB, considering factors like exchange gains and losses, foreign currency liabilities, northbound holdings, and raw material imports [1] - For industries like aviation and papermaking, where many products are settled in foreign currencies, the appreciation of the RMB will reduce costs and enhance profits [1] Company Highlights - Shanying International is recognized for its leading position in the paper and packaging printing sectors in China [1] - Huaxia Airlines is identified as an independent private airline company that focuses on regional transportation [1]

据第一财经消息，商务部贸易救济调查局发布关于召开相关猪肉及猪副产品反倾销案听证会的进一步通 知。听证会时间为2025年10月31日（星期五）9时。本次听证会的内容为相关猪肉及猪副产品反倾销案 初步裁定中的倾销、损害及二者之间因果关系有关事项，除此以外的其他事项不作为本次听证会的听证 内容。 9月5日商务部公告称初步认定原产于欧盟的进口相关猪肉及猪副产品存在倾销，调查机关决定采用保证 金形式实施临时反倾销措施。自2025年9月10日起，进口经营者在进口被调查产品时，应依据本初裁决 定所确定的各公司的保证金比率向海关提供相应的保证金。 据海关总署数据显示，2024年我国进口猪肉及副产品约236万吨，其中从欧盟成员国进口量约112万吨， 占比47%。 华西证券表示，欧盟长期低价倾销相关产品，对国内产业造成冲击。反倾销措施落实后，进口成本增加 影响进口量，其对国内市场的供应压力有望减少，结合近几个月一直在推进的生猪行业反内卷相关举 措，中长期来看国内生猪价格中枢有望抬升。 牧原股份：公司是生猪养殖龙头企业，据中报业绩公告，2025年上半年生猪屠宰量1141.48万头，同比 增长110.87%，上半年产能利用率达到78 ...

Group 1 - Shandong Province has issued the first provincial-level low-altitude information infrastructure special plan in China, aiming to build a comprehensive, intelligent, and secure low-altitude communication network over the next ten years [1] - The plan focuses on developing key sectors such as drone manufacturing and air logistics, with a target to establish a trillion-level low-altitude economic industry cluster by 2027 [1] - The infrastructure construction is seen as a prerequisite for the emergence of the low-altitude economy, emphasizing the importance of foundational projects and application scenarios for drones [1] Group 2 - Leshi Information, a leading civil aviation management company in China, has launched the "Tianmu" series of products centered around a low-altitude flight service management platform, establishing a benchmark for provincial-level low-altitude platforms in Jiangsu Province [2] - The company has achieved the first military-civilian-territorial collaboration benchmark in the sector [2] - CITIC Haizhi is collaborating with Qingdao Metro Group and Qingdao Blue Space Aircraft Company to develop a low-altitude sightseeing project [3]

Group 1 - The ITU has officially released the global standard L.1004 for fast charging solutions for mobile terminals, marking the first international standard for fast charging [1] - The standard was developed collaboratively by major domestic manufacturers including Huawei, vivo, and OPPO, integrating various fast charging technologies to ensure compatibility across brands and devices [1] - The implementation of L.1004 is expected to break down protocol barriers in the mobile terminal industry, providing consumers with a safer and more convenient charging experience while supporting green and low-carbon transitions [1] Group 2 - Daotong Technology is experiencing a surge in its high-end fast charging and liquid-cooled charging pile business, entering the high-end market with standardized international products [2] - Ugreen Technology holds a leading market share in fast charging accessories such as power banks, mobile power supplies, and chargers, and is actively promoting a new generation of high-end fast charging products [2]

Group 1 - Tianlong-3 large liquid launch vehicle successfully completed the "one arrow 36 stars" separation test, marking the first domestic achievement of 36 satellites separating simultaneously, setting a record for the highest number of satellites in a single application scenario [1] - The breakthrough in the star-arrow separation system will support Tianlong-3 in achieving international standards in reliability and cost, providing reliable, efficient, and low-cost launch services for low-orbit satellite constellation networking tasks [1] - Huatai Securities indicates that the commercial aerospace sector is experiencing a triple inflection point in policy, performance, and technology, with the 14th Five-Year Plan emphasizing the goal of building a strong aerospace nation [1] Group 2 - Shaanxi Huada's three major product categories are applied in the commercial aerospace field, maintaining an industry-leading position and supporting key national aerospace projects such as Xingwang and Qianfan Constellation [2] - China Satellite actively participates in the development of the commercial aerospace industry, focusing on satellite internet and contributing to the development and supply of satellite payloads, solar cells, ground control station baseband processing equipment, and various communication and navigation terminal products [2]