Core Viewpoint - The article reveals a governance power struggle within ST Yinjing, highlighted by irregularities in board meeting notifications and voting processes, leading to allegations of misconduct by certain board members [1][4][14]. Group 1: Board Meeting Irregularities - On November 18, ST Yinjing announced that the board meeting had a voting result of "5 votes in favor, 0 votes against, 0 abstentions" for the new board candidates, despite two directors being absent [3]. - Two directors, Peng Xiaoyong and Cai Yang, claimed they were not absent by choice but were unable to attend due to a lack of communication from the acting chairman, resulting in a "passive absence" [4][14]. - The board had previously met on November 12 to discuss the same matters, but the decisions made during that meeting were not disclosed to the public [10][14]. Group 2: Communication Failures - Peng Xiaoyong reported that he attempted to contact the acting chairman multiple times on the day of the meeting but received no response, and the meeting link was only sent to him 28 hours after the meeting had already taken place [6][8]. - The failure to provide meeting details in advance and the unusual method of sending the meeting link raised concerns about the legitimacy of the meeting process [8][14]. Group 3: Legal Actions and Governance Concerns - Peng Xiaoyong has reported the situation to regulatory authorities and filed a lawsuit against the company, seeking to annul the decisions made under questionable procedural circumstances [14]. - Legal experts indicated that the company is required to disclose board meeting results promptly, and failure to do so, especially when there are dissenting votes, violates information disclosure regulations [16].

Group 1 - The core point of the article is that President Trump confirmed a phone call with Venezuelan President Maduro, indicating a potential diplomatic engagement despite ongoing strong rhetoric against Venezuela [3][5]. - Trump stated that his comments about "closing Venezuelan airspace" do not imply an imminent airstrike, suggesting a nuanced approach to the situation [4][5]. - The U.S. has deployed several warships near Venezuela under the guise of "anti-drug" operations, which Venezuela perceives as military threats aimed at regime change [5][7]. Group 2 - Venezuela's Vice President Rodriguez accused the U.S. of attempting to control its vast oil reserves through military intervention, which poses a serious threat to international energy market stability [7]. - Venezuela has formally protested to OPEC regarding U.S. actions, emphasizing its commitment to defend its natural resources and energy sovereignty [7].

Core Viewpoint - The investment philosophy emphasizes maximizing long-term returns while controlling drawdowns, aiming to enhance the long-term returns and profit experience for investors [1][6]. Group 1: Investment Philosophy and Strategy - The company focuses on high win-rate assets as a primary source of excess returns [4]. - The investment framework developed over two decades in pension fund management aims to maximize long-term returns while controlling drawdowns [6]. - The multi-asset team integrates scientific management methods from pension funds into the "fixed income plus" business, emphasizing dynamic cross-asset and cross-industry comparisons [8]. Group 2: Performance and Achievements - As of September 30, the "Yinhua Shenghong Bond A" fund achieved a net value growth of 6.81% since February 18, 2025, outperforming the benchmark by 5.53% [10]. - The company ranked 4th among pension fund managers in the weighted average return of single plans for 2024 [10]. Group 3: Risk Management and Decision-Making - The company has established a comprehensive risk management system, including portfolio risk monitoring and market risk warnings [9]. - The investment decision-making process is based on a "high consensus, high belief" mechanism, ensuring efficient transformation of research results into actionable investment strategies [16]. Group 4: Future Outlook - The company holds an optimistic view on the equity market for the next two years, focusing on key variables such as price stability and real estate recovery [17]. - It plans to identify structural opportunities in sectors like technology innovation, aviation, hotels, and tourism as indicators of consumer recovery [17].

【导读】有关美联储主席的"小作文" 中国基金报记者 泰勒 11月30日晚间， 海外"小作文"称， 美联储主席 鲍威尔 将在周一美国东部时间晚7点举行的紧急会议上宣布辞职。 不过该"小道消息"只是在社交媒体上流传，并没有被主流媒体报道，尚 没有任何官方渠道或美联储自身提供任何证据支持这一说法。而 该消息 来自推特，推特上每个月鲍威尔都能辞职个几次。 此外，根据美联储官网的日程表，鲍威尔在美国时间周一晚上8点，的确有一场演讲活动，但并非紧急会议。在胡佛研究所举办的乔治·P· 舒尔茨纪念讲座上，鲍威尔将与迈克尔·博斯金和康多莉扎·赖斯一起，就乔治·舒尔茨及其在经济政策方面的贡献进行简短讲话和小组讨 论。 | 下午12:00 | 演讲 -- 主管监管的副主席米歇尔·W·鲍曼 4 | | --- | --- | | | 银行监管 | | | 在佛罗里达州银行家协会领导力午餐会（线上）上 | | 晚上8点 | 主席杰罗姆·H·鲍威尔致辞 | | | ■◀ 观看直播 【 | | | 迈克尔·博斯金和康多莉扎·赖斯就乔治·舒尔茨及其经济 | | | 政策贡献发表简短讲话并进行小组讨论 | | | 在加州斯坦福胡佛研究所乔治· ...

Core Insights - The article highlights the continued high level of institutional research activity, with 254 listed companies disclosing investor research records as of November 28 [2] - Over 80% of the companies that were researched by institutions achieved positive returns, with notable performances from Hai Xin Food, Tongyu Communication, and others [3] Group 1: Institutional Research Highlights - Jerry Holdings received attention from 168 institutions, focusing on its gas power generation business and recent oil and gas engineering orders [7] - Fu Lai New Materials was researched by 106 institutions, showcasing its third-generation electronic skin technology that integrates flexible materials, chips, algorithms, and large models [6][11] - Popular gaming companies Century Huatong and Kaiying Network were also under institutional scrutiny, with Century Huatong receiving 96 institutional inquiries [13][14] Group 2: Company-Specific Developments - Jerry Holdings has secured over $100 million in sales orders for generator sets for North American data centers, emphasizing its competitive edge in power generation equipment [9] - Fu Lai New Materials has transitioned from a material supplier to a smart sensing solution provider, achieving breakthroughs in tactile sensing technology [12] - Century Huatong's chairman emphasized the importance of the gaming industry in driving AI development and its strategic direction towards connecting the digital world through gaming [13][14] - Kaiying Network clarified its strategic investment in Century Huatong, indicating that the financial impact of its stock holdings will not affect current profits but will enhance its market competitiveness [15]

来源：新华社 央视新闻 11月29日，雷达跟踪网站的数据显示，当天美国海军两架"超级大黄蜂"战斗机在委内瑞拉海 岸附近持续飞行。与此同时，美国在特立尼达和多巴哥罗宾逊国际机场安装的雷达系统投入 使用。 11月29日早些时候，美国总统特朗普在社交媒体发文说，委内瑞拉上空及周边空域"被视为 全面关闭"。美国联邦航空局此前向多家重要航空公司发出警告称，鉴于"安全局势恶化"以 及"委内瑞拉境内和周边军事活动加强"，任何民航客机飞越委内瑞拉领空都会"面临危险境 况"，各航司需 "谨慎行事"。 委内瑞拉武装部队在多地开展海岸防御演习 当地时间11月29日，作为"独立200计划"的一部分，委内瑞拉武装部队在安索阿特吉、卡拉 沃沃、法尔孔、拉瓜伊拉等地同步开展海岸防御演习。 据悉，本次演练内容包括火炮阵地与防空系统的联合配置、接近行军、快速反应部队登陆、 沿岸巡逻，以及海岸防御点与空中监视系统的部署等，检验了武装部队在陆、海、空多维度 的作战与反应能力。 美媒：特朗普与马杜罗通话，直接要求对方下台 据新华社报道，据美国《华尔街日报》11月29日报道，美国总统特朗普日前和委内瑞拉总统 马杜罗通话时直接发出威胁，称如果马杜罗不肯 ...

来源：新华社 "明谕琉球国王敕"在大连展出 揭示琉球曾是中国藩属重要史实 大连旅顺博物馆近日再次展出的"明谕琉球国王敕"引起各方关注。长期从事相关研究 的旅顺博物馆原副馆长韩行方认为， 这道敕谕揭示了琉球曾是中国藩属的重要史实， 也为研究琉球历史和日本对其侵略史提供了重要印证。 这次展出的"明谕琉球国王敕"系仿制品，原件存放于旅顺博物馆库房。敕谕落款为明 崇祯二年（公元1629年），为黄色纸本，四周有金色云龙花纹，钤有"广运之宝"朱文 方印，行文采用工整的楷书。 谕琉球国王敕"原件（资料照片）。新华社发 韩行方曾详细研究这一文物，在其《明崇祯朝册封琉球始末考辨》一文中指出，敕谕 中提到的"中遭邻侮"，指明万历四十年（公元1612年）日本出兵三千入侵琉球，尚宁 王被俘一事。此事在《明史》中也有记载："琉球外御强邻，内修贡不绝。四十年，日 本果以劲兵三千入其国，掳其王，迁其宗器，大掠而去。"然而，"已而其王归释，复 遣使修贡……四十四年，日本有取鸡笼山之谋，其地名台湾，密迩福建，尚宁遣使以 闻，诏海上警备……"由此可见，当时琉球的尚宁王对明王朝确实是恭谨勤劳、忠心耿 耿，因此才有敕谕中对其功绩的表彰，即"念尔父绍 ...

■ 中国基金报内容矩阵 ■ 一名不愿透露姓名的也门地方安全官员告诉新华社记者，美军一架无人机在也门马里卜省瓦 迪地区一条沙漠支路上，锁定并袭击了穆尼尔·阿赫达勒，当时他正驾驶一辆摩托车。空袭造 成阿赫达勒及其一名随行人员死亡。阿赫达勒被认为担任"基地"组织也门分支高级军事职 务。 美方及也门政府方面均未对此发布正式声明。 les & FR 点击下载中国基金报客户端 来源：新华社 "基地"组织也门分支一头目被美军打死 萨那消息：据也门地方官员11月29日说，一名"基地"组织也门分支头目当天遭美军无人机空 袭身亡。 巅峰对话 投资热点说 ETF风向标 IPO情报站 fe o 1 ■ a a - 444 and 4 4 CHINAFUND CHINAFUND CHINAFUND CHINAFUND 开盘速递 港股日报 全球早班车 数说人物 √ � [ 8 a 4 a g a d 4 4 4 CHINAFUND CHINAFUND CHINAFUND CHINAFUND ●微信搜一搜( 〔 〔 中国基金报 〕即刻获取财经资讯 ...

Core Viewpoint - The resignation of Zhang Yuan as Chairman of Daqian Ecology is attributed to personal reasons, with his term originally set to end on September 19, 2026 [2][6]. Group 1: Leadership Changes - Zhang Yuan has resigned from his positions as Chairman, Director, and member of the Board's Strategic Committee, effective November 27, 2025 [2][6]. - The Vice Chairman, Duan Liping, will temporarily assume the responsibilities of Chairman until a new Chairman is elected [6]. - Zhang Yuan became the actual controller of Daqian Ecology prior to his resignation, following the company's acquisition by Suzhou Bubugao Investment Development Co., Ltd. on November 22, 2024 [6]. Group 2: Financial Performance - In 2024, Daqian Ecology reported a revenue of 115 million yuan, a year-on-year decrease of 10.24%, while the net profit attributable to shareholders was approximately 29.13 million yuan, marking a turnaround from a loss [8][12]. - For the first three quarters of 2025, the company generated a revenue of 153 million yuan, reflecting a significant year-on-year increase of 109.17%, but the net profit attributable to shareholders was a loss of approximately 36.90 million yuan, a decline of 340.89% [10][12]. - The improvement in 2024's net profit was largely due to a decrease in the proportion of revenue from engineering services and an increase in the higher-margin cultural tourism business [12]. Group 3: Market Position - As of November 28, 2025, Daqian Ecology's stock price was 30.59 yuan per share, with a market capitalization of 4.15 billion yuan, reflecting a slight decline of 0.39% [12].

Core Viewpoint - Enjie Co., Ltd. plans to acquire 100% equity of Qingdao Zhongke Hualian New Materials Co., Ltd. and is preparing to raise matching funds for this transaction [2][4]. Group 1: Acquisition Details - Enjie has signed a letter of intent with some major counterparties for the acquisition of Zhongke Hualian [4]. - The stock of Enjie will be suspended from trading starting December 1, 2025, to avoid significant impacts on the company's securities trading [4]. - The transaction plan is expected to be disclosed within 10 trading days [4]. Group 2: Company Profile of Zhongke Hualian - Zhongke Hualian was established in November 2011 and specializes in the R&D, production, and sales of wet lithium-ion battery separator production equipment [4][5]. - The company provides comprehensive solutions including equipment installation, debugging, technical training, and after-sales maintenance [4]. - Zhongke Hualian is recognized as a "little giant" enterprise by the state, a "gazelle enterprise" in Shandong Province, and a national high-tech enterprise [6]. Group 3: Financial Performance - Enjie reported a revenue of 9.543 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 27.85% [6]. - The net profit attributable to shareholders was -86.32 million yuan, a year-on-year decline of 119.46%, indicating that the company has not yet achieved profitability [6].