Core Viewpoint - The electric two-wheeler market is expanding, and lead-acid batteries maintain a significant position due to their safety, cost advantages, wide temperature performance, and recyclability. However, traditional lead-acid batteries face challenges such as low digitalization, inaccurate range estimation, and lack of transparency in health status. The company believes that promoting comprehensive intelligence in lead-acid batteries is essential for enhancing user experience, strengthening battery management, and achieving green recycling [1] Group 1 - The first Global Development Summit for Intelligent Electric Vehicle Industry was held during the Chongqing Motorcycle Expo [1] - The company reported a stock price increase of over 4%, currently trading at 8.38 HKD with a transaction volume of 112 million HKD [1] - The company is collaborating with leading enterprises like Yadi, Aima, and Tailg to develop an intelligent management system for lead-acid batteries, achieving breakthroughs in battery lifespan extension, safety performance, and energy efficiency management [1] Group 2 - Intelligent connectivity not only signifies technological upgrades but also represents ecological restructuring [1] - The intelligent technology enables full lifecycle management of lead-acid batteries, which is a core aspect of electric motorcycle intelligence [1] - The company is actively leading the formulation of relevant technical standards to promote industry standardization and intelligence [1]

光大证券今年7月发布研报称，若在铜行业推行"反内卷"相关政策，或对新增铜冶炼产能做出限制、加 速中小冶炼产能退出，而铜下游消费仍会受益于新能源、电网改造等持续增长，冶炼产能过剩未来有望 缓解，冶炼企业后续盈利有望迎来改善。该行指出，若铜行业相关稳增长方案对冶炼产能做出限制，冶 炼资产价值有望重估，关注铜矿自给率较低而冶炼产能大的公司。 消息面上，中国有色金属工业协会铜业分会第三届理事会第五次会议在河北雄安新区召开。会上，金川 集团、江铜集团、铜陵有色（000630）、中国铜业、大冶有色、五矿有色、紫金矿业（601899）等理事 单位代表围绕企业运行情况、铜精矿加工费、铜业分会下一步工作、企业存在的困难和相关建议进行研 讨交流。中国有色金属工业协会铜业分会表示坚决反对铜冶炼行业"内卷式"竞争。 中国大冶有色金属(00661)盘中涨超27%，截至发稿，涨25.71%，报0.088港元，成交额1118.95万港元。 ...

山西证券发布研报称，随着反内卷带来的政策转向，短期煤炭市场风险偏好提升，弹性标的排序靠前。 动力煤方面，随着长协价格倒挂解除，预计上半年因长协兑现率较差而导致的产销比恶化和累库现象将 在三季度实现改善。炼焦煤方面，金九银十需求预期不差，若有供给扰动，价格存在反弹预期。 价差有望继续拉动进口，关注海外价格走势 山西证券主要观点如下： 进口价格走势在一定程度上显示出国内需求带动海外价格提升，虽然8月的进口增量仍然没有带动进口 价格的提升，但该行注意到进口价格环比降价幅度有所减少，同时部分煤种环比回升。反内卷政策持续 发酵，若国内供应继续收缩，内贸煤和进口煤价差的背离或继续带动进口量回暖。 风险提示：国内需求不及预期，国内供给显著增加，国际煤价大幅下跌 进口煤量收缩趋势继续放缓，进口价下降 进口量方面，1-8月累计增速实现-12.2%，累计进口煤量仍然呈现收缩趋势;尽管8月当月同比连续6个月 保持负增速，但同比负增速持续边际放缓、环比呈现增长幅度扩大，其中8月进口煤同比降6.76%、环 比增20.02%。分煤种来看，所有煤种环比均为正增长，同比方面动力煤和炼焦煤维持负增长。动力煤 环比增量主要来印尼、澳大利亚、俄罗 ...

达安基因（002030）(002030.SZ)发布公告，近日，公司取得国家药品监督管理局颁发的医疗器械注册 证一个，该医疗器械名称为：基孔肯雅病毒核酸检测试剂盒(荧光PCR法)，注册证编号：国械注准 20253401955。 ...

民生证券认为，刚果金政府对钴价挺价态度坚决，未来大概率实行配额制，供给收缩大势所趋，钴价中 枢上移明确。公司湿法镍产能位于印尼，销量不受刚果金出口限制影响，完全受益于钴价上涨。 消息面上，刚果(金)政府于9月20日更新钴出口政策，2025年刚果(金)钴出口禁令延期至10月15日， 2026-2027年钴出口配额仅为年产量的44%。中信证券表示，预计出口配额将导致2025-2027年全球钴供 应量远低于正常水平，钴价有望强势上涨，预计布局印尼钴冶炼的公司以及在刚果(金)拥有矿山的公司 将充分受益于钴价上涨。 力勤资源(02245)再涨超4%，本周累计涨幅约35%。截至发稿，涨3.31%，报20.58港元，成交额1.26亿港 元。 ...

Group 1 - The core viewpoint of the report indicates a significant rise in independent energy storage in China, with improved economic viability and a clear increase in demand, alongside sustained high demand for large-scale storage in Europe and emerging markets [1] - The transition from mandatory energy storage to independent energy storage in China is expected to enhance the revenue model for storage projects, with local governments introducing capacity price compensation policies [1] - The report anticipates that the domestic energy storage demand forecast will be revised upwards, with a projected installation of 149 GWh in 2025 and 194 GWh in 2026, driven by strong demand in regions like Xinjiang and Inner Mongolia [2] Group 2 - The supply of energy storage cells is expected to remain tight until the second half of 2026, with a global demand forecast of 521 GWh in 2025 and 710 GWh in 2026, reflecting a year-on-year growth of 60% and 36% respectively [2] - The report highlights that the independent energy storage model is replacing the traditional capacity storage model, leading to higher quality requirements for storage batteries and systems, which is likely to concentrate the competitive landscape [2] - The emergence of integrated system providers and the rise of construction and operation models are expected to benefit companies with technological and resource advantages in the energy storage sector [2]

大摩表示，继宁德时代今年向EREV市场推出Freevoy电池产品后，认为明年新产品可进一步将公司续航 里程提升至大于600km。新技术可与最先进的NP3.0(无传播)技术结合，提升安全性和长寿技术，以增加 循环寿命。大摩视此为宁德时代展示其动力系统解决方案能力的另一例证，并指公司迭代不断，旨在为 动力系统提供更好的性能。 摩根士丹利发布研报称，据内媒报道，宁德时代（300750）(03750)可能于明年推出NCM811电池组产 品，将增程式电动车(EREV)电池容量提升至80kWh，较目前每单位30至50kWh有所增加。据大摩所 知，宁德时代尚未确认此消息。大摩重申对宁德时代A股(300750.SZ)，目标价425元人民币;同予其港 股"增持"评级。 ...

该信息由智通财经网提供 创新药板块普涨之后，择时、择股重要性明显提升，该行继续建议在板块回调时逐步布局，并建议关注 以下细分方向：1)创新药：三生制药(01530)、德琪医药-B(06996)短期催化剂丰富、估值仍未反映核心 大单品价值，先声药业(02096)、和黄医药(00013)、传奇生物被明显低估、长期成长逻辑清晰;2)CXO： 受益于下游高景气度和融资边际回暖的细分赛道龙头，如药明合联(02268)。 智通财经APP获悉，交银国际发布研报称，本周恒生医疗保健指数跌1.4%，跑输大市。其中，互联网医 药、CXO 及中药板块表现较优于其他板块。该行表示,9月以来，内资透过港股通的持股比例保持稳 定，而外资的持仓则从年中开始略为回落，但内外资持续加大创新药企布局的大方向不变。本周，内资 关注补涨机会，外资亦加仓长期潜力大、当前性价比较高的创新药标的，及潜在受益于降息周期的 CXO企业。 创新药保障模式逐步成形，未来落地可望缓解企业的进院难、报销支付难等情况。ESMO 大会将于10月中下旬举行，该行建议重点关注康方生物(09926)、科伦博泰生物-B(06990)、荣昌生物 (09995)等有重磅数据读出的公 ...

Core Viewpoint - The company, 加科思药业, has demonstrated strong confidence in its fundamentals and long-term growth prospects through significant share buybacks and insider purchases by its CEO and associates [1] Group 1: Stock Performance - 加科思-B (01167) shares rose over 3%, specifically by 3.28%, reaching HKD 9.45, with a trading volume of HKD 30.1853 million [1] Group 2: Insider Transactions - The company's chairman and CEO, Dr. Wang Yinxiang, along with associates, invested nearly HKD 100 million to purchase over 11.05 million shares [1] Group 3: Share Buyback Program - The previously announced HKD 100 million share buyback program has commenced, with approximately HKD 26.7 million executed so far, and it is expected to continue over the next year [1] Group 4: Business Operations and Product Pipeline - The company reported that its business operations are currently in good condition, with encouraging progress in the development of its core product pipeline, including the Pan-KRAS inhibitors [1]

Core Viewpoint - The stock of HuTongDa Network (09878) has seen a significant increase, attributed to Alibaba's announcement of its AI strategy and the strategic partnership between HuTongDa and Alibaba Cloud to enhance AI capabilities in the retail market [1] Group 1: Company Developments - HuTongDa Network's stock rose over 8% during trading, currently at 15.36 HKD with a trading volume of 25.5 million HKD [1] - The company has entered a comprehensive cooperation with Alibaba Cloud, focusing on the construction of intelligent agent matrices and the exploration of data asset value [1] - HuTongDa has launched the "QianCheng Cloud AI Intelligent Model" and plans to deploy over 13 AI agents in collaboration with Alibaba Cloud to support retail and industrial scenarios in lower-tier markets [1] Group 2: Industry Context - Alibaba introduced the concept of "Super Artificial Intelligence" (ASI) at the "2025 Yunqi Conference," aiming to create an "Android system for the AI era" [1] - The partnership with Alibaba positions HuTongDa as an AI-driven comprehensive service provider, leveraging resources from Alibaba and government to tap into a second growth curve [1]