据央视新闻，当地时间11月12日， 乌克兰外交部第一副部长基斯利察表示，由于今年俄乌之间举行的数轮和平谈判均未取得实质性进展，相关对话已被停止。 乌克 兰方面至少在今年年底之前将停止与俄罗斯进行和平谈判。 对此，俄罗斯外交部发言人扎哈罗娃表示，乌方停止与俄罗斯谈判的做法说明其缺乏达成和平的意愿。此外，乌方破坏了双方达成的有关交换被俘人员的最新协 议。在达成的1200名应被交换人员中，已交换的数量不足30%。 法国财长：欧盟已就利用俄被冻结资产援乌达成共识 法国经济与财政部长罗兰·莱斯屈尔12日在布鲁塞尔出席欧元区财长会时称，关于欧盟委员会提出的利用俄罗斯被冻结资产向乌克兰提供1400亿欧元的贷款一事，欧 盟各国已就如何尽快启动该计划达成共识，但欧盟委员会层面还需解决比较棘手的技术细节问题。 欧盟将于13日继续讨论为乌克兰提供财政支持的途径和机制。 乌克兰曝战时腐败窝案 两名部长下台 乌克兰总统泽连斯基12日就一起涉及金额近1亿美元的腐败窝案发表视频讲话，称能源领域腐败"绝对不可接受"。当天，乌能源部长格林丘克和司法部长加卢先科递 交辞呈。 泽连斯基在讲话中说："司法部长和能源部长不能再待在他们的位子上了。"乌 ...

Core Viewpoint - The lithium battery industry is gradually moving out of homogeneous competition, driven by demand, technology, and policy factors, leading to a recovery in the industry chain and improved market conditions [1][3][4]. Group 1: Market Recovery - Since the third quarter, all segments of the lithium battery industry chain have experienced a comprehensive recovery, with prices stabilizing, large orders emerging, and performance growth, significantly enhancing industry prosperity [2]. - Lithium hexafluorophosphate has been a price leader, with its price doubling within a month [2]. Group 2: Demand and Supply Dynamics - The current recovery in the lithium battery market is underpinned by explosive growth in demand, particularly in the new energy vehicle sector, where domestic power battery installation reached 578 GWh from January to October, a year-on-year increase of 42.4% [3]. - The energy storage sector has shown even more remarkable growth, with global energy storage battery shipments reaching 428 GWh from January to September 2025, up 90.7% year-on-year [3]. - Supply-side capacity clearance has injected momentum into the industry's recovery, as many small and low-quality capacities have exited the market, leading to a significant improvement in supply-demand dynamics [3]. Group 3: Technological Advancements - Continuous technological iteration is stabilizing the industry's long-term development, with market-driven forces becoming mainstream [4]. - The focus of downstream lithium battery products has shifted from mere functionality to enhanced usability and durability, indicating a shift in competitive dimensions from price to comprehensive value throughout the product lifecycle [4]. - Leading battery manufacturers are accelerating the launch of differentiated star products, while various manufacturers are investing in high-pressure density and long-cycle series products, fast-charging, and silicon-carbon anode technologies [4]. - The industry is expected to move towards rational development, gradually exiting homogeneous competition and entering a new phase of high-quality development centered on technological innovation and value competition [4].

当地时间11月12日（周三），美股三大指数收盘涨跌不一，道指连续第二日创历史新高。华尔街预期创纪录的美国政府停摆可能即将结束。 截至收盘，道指涨326.86点，涨幅为0.68%，报48254.82点；纳指跌61.84点，跌幅为0.26%，报23406.46点；标普500指数涨4.31点，涨幅为0.06%，报6850.92点。 美国政府停摆可能即将结束 高盛、摩根大通和美国运通等金融板块成份股支撑了道指的优异表现。这3只股票当日均创下历史新高。追踪标普500金融板块的Financial Select SPDR基金上涨 1%。其他与经济景气度密切相关的股票如卡特彼勒也同步上涨。 除金融股外，人工智能交易延续了本月以来的波动格局，因投资者仍担忧科技股在近期飙升后估值可能过高。超威半导体（AMD）股价大涨，但甲骨文和Palantir Technologies等其他个股则下跌。 "人工智能存在真实需求和应用场景。"查斯坦特说，"科技公司盈利表现依然强劲，因此我们并不特别担心目前存在泡沫，只是估值偏高。在我们看来，适当减仓、 获利了结并重新分散投资到股市其他领域并无不妥。" 投资者正密切关注华盛顿动向，因联邦政府最快可能 ...

瑞银证券中国股票策略分析师孟磊认为，当前市场的中期上行驱动力并未改变，包括整体盈利复苏、场外资金净流入、科技叙事助力估值重构及资本市场建设完善 等因素，共同支撑市场中期展望向好。 持续看好。 中国资本市场和外资机构正实现"双向奔赴"新局面。一方面，监管部门通过多个窗口持续释放加快高水平对外开放步伐的信号，证监会明确表示将锚定深化资本市 场制度型开放的目标任务，系统谋划推出更多有力度的开放举措；另一方面，外资机构持续看好中国资产，通过增加仓位、密集调研上市公司等方式加大对中国股 票市场的投资。 具体来看，多家全球金融机构在第三季度同步增持或新进多只A股，布局范围覆盖科技、医疗、化工材料等多个关键领域，部分公司股价已有显著上涨。随着中国 经济结构转型深化和资本市场对外开放步伐的加快，符合高质量发展要求的科技与制造领域，成为外资关注的焦点。 联博基金市场策略师李长风表示，当前中国股市在流动性充沛、结构改革和盈利改善的多重因素推动下，具备中长期配置价值，从资金流向、居民配置思维转变、 外资持续提高A股配置等因素来看，市场稳定性有望持续增强，无论从市场利率还是盈利趋势分析，A股有估值提升的空间。 外资密集调研A股公司 ...

Group 1 - The Shanghai Stock Exchange International Investor Conference opened on November 12, with the China Securities Regulatory Commission emphasizing the stability and potential of the Chinese economy, and plans to deepen investment and financing reforms [2] - The China Photovoltaic Industry Association released a statement denying rumors circulating online about the industry, asserting that these are false and harmful to the sector's reputation [3] - The National Energy Administration issued guidelines to promote the integrated development of distributed renewable energy, encouraging the construction of integrated facilities in transportation hubs and the development of new energy in rural areas [4] Group 2 - The Ministry of Education and six other departments released opinions on strengthening science and technology education in primary and secondary schools, aiming to establish a comprehensive education system by 2030 [5] - JA Solar Technology clarified recent rumors about the company, stating that misleading information has been circulated online, which could harm the company's reputation [6] - Contemporary Amperex Technology Co., Ltd. announced that its fifth-generation lithium iron phosphate battery products have begun mass production [7] Group 3 - Zhejiang Dongri, a company that has seen stock price increases, clarified that it is not involved in "brain-computer interface" business [8] - Shunfa Hengneng, another company with rising stock prices, is gradually investing in various clean energy businesses [9] - Century Huatong plans to repurchase shares worth between 500 million to 1 billion yuan to reduce registered capital [13]

Core Viewpoint - The recent developments regarding the chairman of Beijing University Pharmaceutical (北大医药) indicate significant legal issues, with the chairman being arrested for criminal charges, yet the company's operations and control remain stable [1][2]. Group 1: Company Leadership and Governance - On November 12, Beijing University Pharmaceutical announced that its chairman and president, Xu Xiren, has been arrested for criminal charges, with the board functioning normally under the temporary leadership of authorized directors [1]. - Prior to the arrest, on October 25, the company had already announced Xu's temporary inability to perform his duties, delegating responsibilities to other board members [1]. - The company confirmed that its control structure has not changed and that its financial and operational management remains stable [2]. Group 2: Company Background and Operations - Beijing University Pharmaceutical, originally established in 1965, was listed on the Shenzhen Stock Exchange in 1997 and has undergone several changes in control, with the current actual controller being Xu Xiren [2][3]. - The company specializes in drug research, production, and sales, focusing on key areas such as anti-infection, analgesics, mental health, and chronic diseases, with a total of 166 drug approvals and 13 first-generic drug approvals [2]. - The company has developed a comprehensive pharmaceutical sales network across China, covering drug sales, medical circulation, hospital procurement, and supply chain management [2]. Group 3: Recent Performance Metrics - For the first three quarters of 2025, Beijing University Pharmaceutical reported a revenue of 1.231 billion yuan, a year-on-year decrease of 19.76%, while net profit increased by 4.31% to 136 million yuan [3].

美股芯片股大涨。 当地时间11月12日，美股三大指数集体高开，随后走势分化。截至发稿，道指涨0.93%，标普500指数涨 0.17%，纳指跌0.15%。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | DJI | 道琼斯工业平均 | 48373.30 | 445.34 | 0.93% | | IXIC | 纳斯达克指数 | 23432.20 | -36.10 | -0.15% | | SPX | 标普500 | 6858.00 | 11.39 | 0.17% | 芯片股普遍走强，费城半导体指数一度涨超2%。 具体个股中，超威半导体一度涨近10%，公司预计未来三至五年整体营收将以约35%的年均速度增长；AI芯片 业务年增速或达80%。在当地时间周二（11月11日）举行的投资者日期间，超威半导体CEO Lisa Su预期，AI 芯片市场到2030年将达到1万亿美元，公司也将争取提高市场份额。首席财务官Jean Hu表示，在未来三至五年 内，预期公司整体业务每年增长35%，但数据中心业务每年增长60%。届时，公司的每股收益将上升至20美 元 ...

Core Viewpoint - Multiple A-shares are set to implement dividend distributions, indicating a positive trend in shareholder returns and company profitability [2][5]. Group 1: Dividend Announcements - SanKe Tree (603737) announced a cash dividend of 0.50 CNY per share, totaling 369 million CNY, with the record date on November 18, 2025, and the ex-dividend date on November 19, 2025 [3]. - Zhiou Technology (301376) will distribute a cash dividend of 2 CNY for every 10 shares, amounting to 80.1554 million CNY, with the same record and ex-dividend dates as SanKe Tree [3]. - Yongqing Environmental Protection (300187) declared a cash dividend of 0.77 CNY for every 10 shares, with no stock bonus or capital reserve conversion, following the same record and ex-dividend dates [3]. - China Nuclear Construction (601611) will distribute a cash dividend of 0.01 CNY per share, totaling approximately 30.1383 million CNY, with the record date on November 19, 2025, and the ex-dividend date on November 20, 2025 [3]. - China CRRC (601766) announced a cash dividend of 0.11 CNY per share, totaling about 3.157 billion CNY, with the same record and ex-dividend dates as China Nuclear Construction [4]. - Songzhi Co. (002454) will distribute a cash dividend of 1.50 CNY for every 10 shares, totaling 93.9345 million CNY, with the same record and ex-dividend dates [4]. Group 2: Additional Dividend Announcements - More than ten companies, including Midea Group, Jinjiang Shipping, Hangzhou Bank, and others, have also announced upcoming dividend distributions this week [5]. - Chongqing Beer (600132) plans to distribute a cash dividend of 1.30 CNY per share, totaling 629 million CNY, with the same record and ex-dividend dates as the previously mentioned companies [5].

晶澳科技（002459）发布澄清公告。 11月12日，受市场传闻影响，光伏产业链股大幅跳水，截至收盘，阿特斯跌超14%，艾罗能源跌超10%，隆基 绿能、晶澳科技、通威股份等跌超6%。 | 代码 名称 | � | 涨幅% | 现价 | 涨跌 | 买价 | 卖价 | 总量 | | --- | --- | --- | --- | --- | --- | --- | --- | | 688472 | | K -14.33 | 20.56 | -3.44 | 20.56 | | 20.57 280.2万 | | 688717 文学能源 | | k -10.16 | 68.65 | -7.76 | 68.65 | 68.66 | 92750 | | 002885 京泉华 | | R -10.01 | 30.03 | -3.34 | | | 30.03 460061 | | 002255 海战重工 | R | -9.64 | 12.47 | -1.33 | 12.46 | | 12.47 208.2万 | | 603759 海天股份 | . | -9.21 | 11.73 | -1.19 | 11.73 | | 11.74 ...

最近一段时间，深圳加快了宅地供应速度，甚至再现要求"现房销售"的宅地。 近日，深圳市规划和自然资源局挂牌一宗宅地，地块编号B405-0308，位于福田梅林，靠近地铁9、10号线孖岭 站，土地面积4994平方米，建筑面积18550平方米，建筑高度小于100米，挂牌起始价4.8亿元，计划于12月10 日出让。 值得注意的是，根据出让公告，B405-0308宗地内的商品住房需全部实行现房销售。在业内人士看来，这是继 宝安机场东车辆段地块后，深圳土地市场近年来第二宗要求全现房销售的宅地。 那么，哪些项目适合实行现房销售？广东省住房政策研究中心首席研究员李宇嘉表示，热点城市的热点地块适 合打造高品质项目，现房销售激发购房动力，购房者也愿意支付高溢价；一些定制类的别墅项目，根据购房者 的个性化需求，打造所见即所得的产品；此外，还有同质化、高库存、问题楼盘比较多以及信心比较弱的区 域，也适合实行现房销售。在李宇嘉看来，现房销售是提振市场信心的关键因素之一。目前，提振市场信心是 房地产市场稳定的关键。 现房销售一直是业内较为关注的话题，近日出版的《〈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〉辅导读本》中刊登 ...