Core Viewpoint - The company, Degute, announced the termination of its major asset restructuring plan, resulting in a nearly 44% drop in stock price since October 14 [2][6]. Group 1: Termination of Asset Restructuring - On December 3, Degute's board approved the termination of the plan to acquire 100% of Haowei Cloud Computing Technology Co., Ltd. through share issuance and cash payment [2][4]. - The acquisition aimed to enhance Degute's capabilities in the digital transformation sector and create a differentiated advantage [4]. - Despite ongoing discussions, the company could not reach an agreement on key terms such as transaction price and performance commitments with the counterparties [4][5]. Group 2: Financial Performance - In the first three quarters of the year, Degute reported revenue of 382 million yuan, a year-on-year decrease of 9.29%, and a net profit attributable to shareholders of 72.26 million yuan, down 26.39% year-on-year [6]. - As of December 3, Degute's stock closed at 22.8 yuan, reflecting a 43.8% decline from its peak on October 14, with a market capitalization of 3.5 billion yuan [6].

Group 1 - The core viewpoint of the article emphasizes the importance of implementing the spirit of Xi Jinping's important speech during the feedback of the 20th Central Inspection, focusing on problem recognition and rectification as key to promoting high-quality development [1][2] - The feedback process involved both centralized meetings and "one-on-one" feedback from 16 central inspection teams to 31 provinces, autonomous regions, and municipalities, as well as to the Xinjiang Production and Construction Corps and Kunming City [1] - The article highlights the need for party committees to take responsibility for rectification, develop detailed plans, and ensure accountability through problem lists, task lists, and responsibility lists [2] Group 2 - It is stressed that rectification should address both ideological and practical issues, linking inspection rectification with planning for the 14th Five-Year Plan period [2] - The article mentions that disciplinary inspection and organizational departments must enhance supervision of rectification efforts, with serious accountability for superficial or false rectifications [2] - The central inspection teams have also received reports on issues related to some leaders, which have been forwarded to the relevant authorities for handling [2]

【导读】贵州百灵实控人姜伟被立案，涉嫌内幕交易、信披违法等 中国基金报记者 晨曦 又有上市公司实控人被立案！ 12月3日晚间，贵州百灵发布公告称，公司实控人姜伟被证监会立案，涉嫌内幕交易、信息披露违法、违反限制性规定转让股票。 此前， 贵州百灵因涉嫌信息披露违法违规，于2024年11月被证监会立案调查，调查结果尚未公布。 贵州百灵实控人姜伟被立案 12月3日晚间，贵州百灵公告称，公司实际控制人姜伟于近日收到证监会下发的《立案告知书》。按照该告知书，姜伟因涉嫌内幕交易、信 息披露违法、违反限制性规定转让股票，根据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规，证监会决定对其进 行立案。 对此，贵州百灵表示，该次立案系对姜伟个人的调查，与公司日常经营管理和业务活动无关，不会对上市公司及子公司生产经营活动产生 影响。立案调查期间，姜伟将积极配合中国证监会的立案调查工作。公司将持续关注上述事项的进展情况，并严格按照相关法律法规及监 管要求及时履行信息披露义务。 公开信息显示，姜伟出生于1961年，1982年毕业于贵阳中医学院药学系，大学文化，高级工程师，现任贵州百灵董事长。姜伟于1996年 主导安顺制 ...

Core Viewpoint - The founder partner of Meituan Longzhu, Zhu Yonghua, predicts that the ready-to-drink beverage industry will see six new listed companies in the next five years, with significant growth potential in the tea and coffee markets [2][5]. Industry Overview - The Chinese coffee and tea market is expected to reach a trillion yuan scale in the next 5 to 10 years, with new entrants like Heytea and Chayan Yuese anticipated to go public [5]. - The third quarter of this year saw the tea market's overall revenue grow by 16.5% year-on-year, while the coffee market's revenue increased by 27.3% year-on-year [7]. Market Dynamics - The number of tea beverage stores decreased by 4% to 408,000, while coffee store numbers increased by 12.8% to 193,000 by the end of the third quarter [8]. - An "M-shaped" ecological structure is forming in the beverage industry, where leading brands expand significantly while new brands emerge rapidly, and mid-sized brands face challenges [11]. Competitive Landscape - The tea industry is shifting towards value competition, focusing on differentiation, brand premium, and operational efficiency, while the coffee sector is leaning towards scale competition [12]. - The coffee market has produced three brands with over 10,000 stores: Luckin Coffee, Kudi Coffee, and Lucky Coffee, with the latter experiencing rapid growth under the support of the Mixue Group [12]. Regional Brand Strategy - Despite the rise of large chain brands, many local brands maintain market space by leveraging unique regional flavors and emotional connections with consumers [14]. - Local brands like Momo Nanlu focus on regional characteristics and consumer preferences to create differentiated products, establishing a strong local presence [16].

党中央决定，钟国 来源：央视新闻 今天（3日）下午，法国总统马克龙乘机抵达北京首都国际机场，开启为期三天的访华之行。 这是他第四次对中国进行国事访问，也是对去年中法建交60周年之际中国领导人对法国进行 历史性国事访问的回访。 法国是首个同新中国建立大使级外交关系的西方大国，中法两国同为安理会常任理事国。各 方期待马克龙此访将推动中法全面战略伙伴关系迈上新台阶，为维护多边主义、改革完善全 球治理注入新动力。 东职务调整 ...

来源：政事儿、 中央纪委国家监委网站 他长期任职湘西土家族苗族自治州，曾任凤凰县委书记，湘西州委常委、吉首市委书记等职，2009年任湘西州州长，2013年任湘西州委书记。 中央纪委国家监委网站12月3日消息，湖南省人大常委会原党组成员、副主任叶红专涉嫌严重违纪违法，目前正接受中央纪委国家监委纪律审查和监察调 查。 叶红专（资料图） 公开简历显示，叶红专，男，土家族，1958年6月生，湖南龙山人，1975年3月参加工作，1976年12月加入中国共产党，湖南广播电视大学湘西土家族苗族 自治州分校党政干部经济管理专业毕业，在职大专学历。 2018年，叶红专任湖南省人大常委会副主任，并继续兼任湘西州委书记至2021年卸任。 印度，崩了！ ...

人民币对美元汇率延续升值势头！ 继升破7.07关口后，12月3日，离岸人民币对美元汇率盘中最高升至7.05625，创2024年10 月9日以来新高。截至发稿，报7.05825。 人民币对美元即期汇率最高达7.0620，刷新去年10月中旬以来新高，截至发稿，报7.0623。 【导读】人民币持续走强，离岸人民币对美元升破7.06 中国基金报记者 忆山 编辑：杜妍 校对：王玥 12月3日，中国人民银行授权中国外汇交易中心公布，银行间外汇市场人民币汇率中间价为1 美元对人民币7.0754元，较上个交易日调高30个基点，创下2024年10月14日以来新高。 东方金诚首席宏观分析师王青认为，人民币走势偏强，将提振资本市场信心，也会吸引更多 海外资金流入国内资本市场，与汇市走强形成良性联动。 王青预计，短期内人民币还会处于偏强运行状态，接下来要重点关注美元走势、人民币中间 价调控力度，以及国内稳增长政策的力度和节奏。由于美联储未来可能继续降息，且特朗普 政府关税政策对美国经济的冲击逐步显现，美元指数上行空间有限。不过，年初以来美元跌 幅巨大，对包括美联储降息等在内的利空因素有所消化，后期会有较强的抗跌韧性。 纽约梅隆银行驻 ...

Core Points - The article emphasizes the urgent need for a political resolution to the Palestinian issue, highlighting China's support for a ceasefire and humanitarian improvements in Gaza [3][4][5][6] Group 1: Political Resolution - The 80th UN General Assembly passed a resolution for a peaceful resolution to the Palestinian issue with 151 votes in favor, 11 against, and 11 abstentions, where China voted in favor while the US and Israel opposed [3] - China calls for immediate and comprehensive ceasefire in Gaza and urges all parties to adhere to ceasefire agreements and halt actions that escalate tensions [4][6] Group 2: Humanitarian Situation - China stresses the need to improve the humanitarian situation in Gaza and alleviate the suffering of the Palestinian people [4][5] - The principle of "Palestinians governing Palestinians" is highlighted for post-war reconstruction and governance in Gaza [5] Group 3: Two-State Solution - China advocates for the "two-state solution" as a guiding principle and urges the international community to explore practical paths to support the establishment of an independent Palestinian state and its membership in the UN [5][6] - The article underscores the importance of addressing the root causes of the Palestinian issue and taking strong actions to correct historical injustices [6]

Core Viewpoint - The current market is in a "slowing slope, mean reversion" phase, making dividend low-volatility funds a worthy focus for foundational investment choices [4][7]. Market Analysis - The market at around 4000 points has a total market capitalization exceeding 100 trillion yuan, compared to approximately 50-60 trillion yuan a decade ago, indicating a need for greater trading volume to support price levels [8]. - The investor structure has fundamentally changed, with institutional holdings now accounting for about 50% of the total market capitalization, compared to a 90% retail penetration a decade ago [8]. Mean Reversion Evidence - Calendar effects show that in December or the fourth quarter, dividend low-volatility styles typically outperform growth styles, with a less than 25% chance that the top-performing style in Q3 will continue to lead in Q4 [9]. - The price ratio between technology and dividend indices reached a ten-year extreme in October, indicating a potential mean reversion as funds shift towards dividend stocks [9]. - Public fund quarterly report effects suggest that when a sector's holdings exceed 20%, it often underperforms in the following six months, indicating a potential shift of funds towards low-volatility dividend strategies [10]. Dividend Investment Strategy - Dividend investment focuses on high dividend yield stocks, typically selecting those with yields above 4% [12]. - Dividend funds generally distribute dividends, with frequencies ranging from annual to quarterly, depending on the fund's contract [13][14]. - The dividend yield is a critical indicator for selecting dividend funds, with higher yields indicating better value [14]. Stock Selection Logic - The low-volatility index employs a dual screening process, first filtering for high dividend stocks and then selecting those with the lowest volatility, enhancing the potential for long-term excess returns [19]. - Different dividend indices, such as CSI 800 and CSI 300, have distinct selection criteria based on their respective market segments [21]. Investment Timing and Strategy - The key to improving the investment experience in dividend indices is to follow the principle of "buying low is better than chasing high," avoiding purchases when the deviation from the moving average is excessive [22]. - The current market environment favors dividend strategies due to a decline in risk appetite, with high dividend stocks becoming more attractive as a stable investment option [24]. Recommended Products - The XinYuan CSI 800 Dividend Low-Volatility ETF is highlighted for its strong performance, high dividend yield, and favorable risk-return profile, making it suitable for both conservative and growth-oriented investors [27][28]. Long-term Outlook - Short-term mean reversion, mid-term adjustments in public fund allocations, and long-term inflows from insurance capital into dividend low-volatility strategies create a favorable environment for these investments [31].

【导读】钟国东出任中国华能集团有限公司董事、总经理、党组副书记 中国基金报记者 晨曦 中国华能，最新人事变动来了！ 据中国华能官网消息，2025年12月3日，中国华能集团有限公司召开领导班子（扩大）会议。 受中央组织部领导委托，中央组织部有关干部局负责同志宣布了党中央关于中国华能集团有限公司总经理任职的决定：钟国东同志任中国 华能集团有限公司董事、总经理、党组副书记，免去其招商局集团有限公司董事、党委副书记职务。相关职务任免，按有关法律和章程的 规定办理。 公开信息显示，钟国东，男，1970年出生，四川省人，中共党员，大学本科学历，浙江大学电力系统及自动化专业学士，高级经济师、路 桥专业高级工程师。 钟国东从事电力行业工作多年，曾任华电四川公司党委书记、执行董事，国家开发投资集团有限公司党组成员、副总经理，招商局集团有 限公司董事、党委副书记等职务。 目前，中国华能官网"公司领导"板块已显示钟国东的任职信息。 编辑：杜妍 校对：乔伊 制作：小茉 审核：许闻 印度，崩了！ 中国华能总经理一职于上月出缺。11月14日，中央组织部有关干部局负责同志宣布了党中央关于国家电网有限公司总经理任职的决定：张 文峰任国家电网 ...