科创板科创成长层"迎新"！ 据央视新闻从上海证券交易所了解到，首批三家新注册的科创成长层企业今天（28日）正式登陆科创板。这距 离中国证监会宣布在科创板设置科创成长层，仅仅过了4个月零10天。 首批三家新注册的科创板科创成长层企业中，有两家是生物医药领域的高新技术企业，另外一家来自半导体材 料领域，均是未盈利企业。 今日（10月28日），禾元生物、西安奕材、必贝特三家未盈利公司登陆科创板。 开盘后， 科创板N奕材高开 361%、N禾元高开202%、N必贝特高开175%。随后，上述三只股票回落，N必贝、N奕材双双触发临停。 截至券商中国发稿，N必贝特涨超74%，N奕材涨超210%，N禾元涨超166%。 6月18日，证监会宣布科创板"1+6"政策，设立科创成长层，重点服务技术有较大突破、商业前景广阔、持续研 发投入大，但目前仍处于未盈利阶段的科技型企业。此次旨在有针对性地改革优化科创板发行上市等制度，着 力打通堵点难点，促进科技创新和产业创新深度融合。上交所7月13日发布科创板科创成长层等配套业务规 则，32家存量公司已于规则发布当日纳入科创成长层。 在科创板科创成长层首批新注册企业上市仪式上，上交所理事长邱勇在 ...

Core Viewpoint - The article emphasizes the role of China Life Asset Management Co., Ltd. in supporting technological innovation through innovative investment strategies, particularly the S Fund shares, to address the challenges faced by insurance capital in the tech sector [2][3]. Policy and Industry Resonance - The insurance capital's focus on technological innovation aligns with national policies, such as the "New Quality Productive Forces" concept and the "Creative Investment Seventeen Articles," which encourage long-term investment from insurance funds to support technological innovation and entrepreneurship [3][4]. - The implementation of the "High-Quality Development Plan for Technology Finance" encourages insurance institutions to diversify their investment tools to support venture capital [3]. Innovative Investment Strategies - China Life Asset has developed innovative investment strategies, such as S Fund shares, to navigate the inherent risks of technological innovation while adhering to the prudent investment principles of insurance funds [4][5]. - The total scale of private equity and venture capital funds in China has reached 14 trillion yuan, providing various stages of funding support for entrepreneurial enterprises [5]. Positive Outcomes from S Fund Shares - The S Fund shares have alleviated the "dam" problem in the equity investment market, providing differentiated capital to support the construction of a multi-tiered capital market and enabling tech companies to focus on innovation [6]. - The strategy balances the cautious use of insurance funds with the risks of technological innovation, creating new growth opportunities for long-term capital allocation [6]. - A new model of government-enterprise cooperation has been established, facilitating a positive investment interaction between government support and market-driven capital [6]. Gradual Progress in Technology Finance - Over the past three years, China Life Asset has gradually improved its technology finance strategies, achieving incremental advancements each year [8][9]. - The establishment of the "China Life - Electronic Mixed Reform No. 1 Equity Investment Plan" in 2022 raised 1.99 billion yuan to support critical technology sectors, particularly in the information security field [9]. - In November 2023, the "China Life - Shanghai No. 1 Equity Investment Plan" was launched with an investment scale of approximately 11.8 billion yuan, focusing on the semiconductor industry and addressing early-stage risks and valuation issues [10]. Focus on Venture Capital - China Life Asset has made strides in the venture capital sector, launching a 5 billion yuan "China Life - Beijing Science and Technology Innovation Equity Investment Plan" to invest in the Beijing Science and Technology Innovation Fund, which focuses on hard technology investments [11]. - This initiative aims to bridge the gap between insurance capital and venture capital, exploring feasible paths for insurance funds to support the development of new quality productive forces [11].

Core Viewpoint - Chinese assets are experiencing a significant value reassessment, with global capital increasingly allocating resources to these assets as narratives around Chinese technology and market recovery become clearer [2][4]. Market Performance - On October 27, Chinese assets surged, with the Nasdaq Golden Dragon China Index rising over 2% at one point and closing with a 1.59% increase. Various ETFs related to Chinese stocks also saw gains exceeding 3% [3]. - Notable Chinese stocks such as Xpeng Motors and Baidu saw increases of over 6% and 5% respectively, while Alibaba rose nearly 3% [3]. - The offshore RMB appreciated against the USD, marking its largest single-day gain since August 28, with a rise of 168 points [3]. Capital Inflows and Investor Sentiment - International capital inflows into emerging markets exceeded $150 billion in the first nine months of the year, with a notable rebound in foreign investment in Chinese stocks, reaching $4.6 billion in September [4][5]. - UBS reported a growing interest among investors in Chinese stocks, particularly in AI technology and capital returns, with a positive sentiment observed in Asia [4][6]. Long-term Investment Trends - Long-term investors are increasingly interested in Chinese technology stocks, particularly in the AI supply chain, as highlighted by a report from Citibank [7]. - Morgan Stanley's chief strategist expressed confidence in the Chinese stock market, citing macroeconomic stability and global recognition of China's innovation capabilities as key factors [5]. Company-Specific Insights - Victory Technology reported a significant revenue increase of 78.95% year-on-year, with a net profit surge of 260.52% in Q3 2025, indicating strong growth potential in the AI supply chain [7]. - Goldman Sachs raised its capital expenditure forecasts for Tencent and Alibaba, reflecting optimism about their future growth prospects [8][9].

据新加坡《联合早报》、马来西亚《星报》报道，马来西亚广播电视台26日在直播中不仅误报印尼总统普拉博 沃和新加坡总理黄循财的名字，还认错泰国总理阿努廷，该媒体在两度公开道歉后，马来西亚新闻局同日也连 发三则声明致歉。 新加坡《联合早报》称，马来西亚新闻局10月26日先后发布三则声明，为马来西亚广播电视台在第47届东盟峰 会和相关会议中误报印度尼西亚、新加坡和泰国领导人的名字致歉。根据声明，旁述人员把新加坡总理黄循财 误称为前总理李显龙；在介绍印尼代表时，把印尼总统普拉博沃误称为前总统佐科；还把泰国总理阿努廷误称 为前总理赛塔。 报道称，该声明向上述三国的领导人和政府，以及所有受影响人士和单位表达歉意。马来西亚新闻局表示，马 来西亚广播电视台高度重视此次失误，并会采取相应措施。 马来西亚广播电视台当天在声明中称，该电视台严肃对待这件事，将采取适当的行动。声明还说，该电视台将 加强编辑监督和审查机制，确保未来播出的所有信息准确无误。 来源：环球网 利空突袭！评级再下调 A股，突发！A50直线猛拉！ 刚刚，暴涨超1000点！特朗普，大消息！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn. ...

Core Viewpoint - Baima Tea Industry has shown strong market interest ahead of its IPO, with significant oversubscription and a notable increase in share price during the dark market trading phase, indicating robust investor confidence in the company and its growth potential [1][3]. Group 1: IPO Details - Baima Tea Industry's IPO was oversubscribed by approximately 1940 times, setting a record in the Hong Kong tea industry, with a total margin loan of HKD 872.54 billion [3]. - The company plans to issue 9 million H-shares at an offering price of HKD 50 per share, aiming to raise HKD 450 million [3]. - The entry fee for investors is estimated at HKD 5,050.43 for a minimum purchase of 100 shares [3]. Group 2: Company Background - Baima Tea Industry previously listed on the New Third Board in November 2015 and delisted in April 2018, following a trend of successful transitions from the New Third Board to Hong Kong by other companies [5]. - The company has attracted investments from notable financial institutions and industry players, including IDG Capital and Tian Tu Capital, indicating strong backing from experienced investors [6]. Group 3: Market Position and Performance - As of the end of 2024, Baima Tea Industry operates 3,504 offline specialty stores, ranking first among Chinese tea companies [9]. - The company holds the top position in the high-end tea market in China with a market share of 1.7%, and also leads in the Oolong and black tea segments [9]. - Despite its strong market position, Baima Tea Industry is projected to face revenue and profit declines in the first half of 2025, primarily due to weak external demand [9].

Core Viewpoint - The "fixed income +" products have shown diverse net value curves in the context of a strong stock market and weak bond market, with some products achieving outstanding performance through high elasticity allocations in stocks and convertible bonds, while others focusing on long-duration bonds performed relatively poorly [1][2]. Group 1: Performance of "Fixed Income +" Products - The average increase of "fixed income +" products this year is approximately 4.8%, with top performers like Huazhong Zhili rising by 47.77% and Huashang Shuangyi by 44.4% [4]. - The leading products have significant allocations in equity assets, with over 40% of assets in stocks for top performers, benefiting from high-elasticity technology stocks [4]. - The performance of other high-ranking products, such as Fuguo Jiuli and Minsheng Jiayin, also shows a strong focus on convertible bonds, with allocations exceeding 70% [4]. Group 2: Risk Level Adjustments - Several public funds and distribution channels have raised the risk levels of their "fixed income +" products, with many being upgraded from R2 (medium-low risk) to R3 (medium risk) [8]. - The adjustments in risk levels are influenced by regulatory requirements, market conditions, and changes in target customer profiles [8][9]. Group 3: Market Outlook - The bond market is expected to maintain a stable operation, while the equity market is anticipated to continue with structural trends, leading to a consensus on seeking higher risk-return ratios through "fixed income +" products [2][12]. - The overall scale of "fixed income +" funds reached 1.48 trillion yuan by the end of the second quarter, with a significant increase of over 100 billion yuan in a single quarter [11]. - The current economic indicators suggest a weak recovery, providing a stable foundation for the bond market, while also presenting new challenges [12].

经查，这一看似励志的故事实则是精心摆拍的虚假宣传视频。该企业并未聘请其所称的某大型科技公司前首席 女技术黑客，视频中的女主播也并非"女技术黑客"，视频表述内容与实际情况不符，此类虚假宣传博流量的行 为误导网民，扰乱公共秩序。 违法行为被查处 长沙公安网安部门立即启动联合执法机制，通报市场监管部门并配合开展核查处置。 经查，该企业为博取眼球、吸引流量、牟取利益，长期在其运营的4个短视频账号发布虚假摆拍内容，已违反 《中华人民共和国广告法》第四条、第二十八条相关规定。 依据法律规定，市场监管部门对该企业处以罚款20万元的行政处罚，并责令其立即停止违法行为，删除全部虚 假视频。 警方提示 据公安部网安局10月27日消息，近期，湖南长沙市场监管部门会同属地公安机关成功查处一企业内员工虚 构"某大型科技公司前首席女技术黑客"身份发布虚假广告案，涉案企业被依法处罚，相关违法账号已被注销。 编造人设只为卖课 2025年2月，长沙市公安局高新分局网安部门工作中发现，辖区某教育机构在某短视频平台发布多个标榜"某大 型科技公司前首席女技术黑客卖力直播无人问津"的推广视频。 视频中，一名自称"江苏籍前首席女技术黑客"的主播，刻意营 ...

阿根廷资产上演史诗级暴涨。 在阿根廷总统米莱领导的执政联盟赢得中期选举后，阿根廷股市、汇市全线暴涨，阿根廷主要股指一度暴涨超 20%，阿根廷比索兑美元汇率一度暴涨超10%。有分析认为，执政联盟的选举结果好于预期，消除了阿根廷政 策连续性的最大不确定性。 与此同时，美股市场亦集体走强，道指、纳指、标普500指数均创出历史新高，美股芯片股领涨，费城半导体 指数大涨超2%，亦创下历史新高，高通一度暴涨超21%，创2019年以来最大日内涨幅，该公司推出AI芯片， 在数据中心市场与英伟达展开竞争。有分析指出，贸易紧张局势缓和提振了市场做多情绪，避险资产黄金、白 银价格大幅跳水，现货黄金跌破4000美元/盎司。 美股全线爆发 北京时间10月27日晚间，美股开盘后，美股三大指数集体高开，截至22:30，道指涨0.51%，标普500指数涨 0.88%，纳指涨1.45%，均刷新历史新高。 美股大型科技股全线走高，特斯拉大涨超3%，谷歌、Meta涨超2%，英伟达、苹果、微软、亚马逊均涨超 1%。 有分析指出，贸易紧张局势缓和提振了市场做多情绪，作为最容易受到贸易关系影响的板块，美股芯片股领 涨，费城半导体指数大涨2.7%，创下历 ...

Core Viewpoint - The article highlights the significant interest from public funds in ST Huatuo, which has seen a remarkable stock price increase of 265.18% year-to-date, driven by strong performance in the gaming sector and a successful new mobile game launch [1][4]. Group 1: ST Huatuo's Performance - As of the end of Q3, ST Huatuo was heavily held by multiple public funds, including Yongying Fund and Rongtong Fund, with a year-to-date increase of 265.18% and a market capitalization of approximately 139.4 billion yuan [1][4]. - The company reported total revenue of 17.207 billion yuan for the first half of the year, representing an 85.50% increase, and a net profit of 2.656 billion yuan, up 129.33% year-on-year, marking a historical high [4]. Group 2: Public Fund Investment Strategy - Public funds have a rigorous selection process for stocks, especially for ST stocks, focusing on fundamental and liquidity assessments [2][7]. - The process involves multiple rounds of screening, where stocks must pass through various categories, including basic, alternative, core, and risk stock pools, with a strong emphasis on fundamental analysis [7][8]. Group 3: New Consumption Trends - The article notes a shift in focus towards "new consumption" sectors, such as gaming and IP derivatives, as traditional consumption categories are being deprioritized by fund managers [9]. - Fund managers are increasingly looking for growth opportunities in high-potential segments, including gaming and export-oriented companies, as they anticipate significant growth in these areas [9]. Group 4: Gaming Industry Outlook - The gaming sector has seen a substantial increase, with the China gaming index rising over 40% year-to-date, and expectations for continued growth driven by policy support and technological advancements [10]. - The gaming industry is projected to transition from an adjustment phase to a high prosperity phase by 2025, supported by dual drivers of performance and valuation increases [10].

Core Viewpoint - Postal Savings Bank of China (PSBC) has received approval from the National Financial Regulatory Administration to establish a financial asset investment company, which will enhance its comprehensive service capabilities and support technological innovation in the country [1][2]. Group 1: Establishment of the Investment Company - The newly established company, China Postal Financial Asset Investment Co., will have a registered capital of 10 billion yuan and will be a wholly-owned subsidiary of PSBC [2]. - The establishment of this investment company aligns with national policies aimed at promoting technological innovation and supporting private enterprises [2]. - PSBC aims to integrate the new investment company into its overall development strategy, creating four key platforms to enhance its service offerings [2]. Group 2: Expansion of AIC Licenses - The pace of expanding financial asset investment company (AIC) licenses has accelerated, with several major banks, including PSBC, actively establishing their own AICs [3][4]. - As of October 2023, five major AICs have registered a total of 82 funds, surpassing the total number registered in 2024 [6][7]. - The expansion of AICs is primarily driven by the need to promote technological innovation, with significant investments being made in the sector [3][4]. Group 3: Impact on Banking Sector - The establishment of AICs is expected to open new business opportunities for banks, allowing them to invest in non-listed companies and enhance the value of their financial licenses [8]. - Analysts predict that AICs will facilitate the integration of social capital into technological enterprises, thereby supporting innovation and reducing investment risks [8][9]. - The opening of equity investment permissions for banks is seen as a crucial step in diversifying their revenue streams amid narrowing profit margins from traditional lending [8].