Group 1 - President Xi Jinping had a phone call with US President Trump on November 24 [1] - Lei Jun, founder and CEO of Xiaomi Group, invested over 100 million HKD to increase his stake in the company to 23.26% [2] - Xiaomi Group's stock rose by 1.52% to 38.66 HKD after the announcement [2] Group 2 - The People's Bank of China will conduct a 10 billion CNY MLF operation to maintain liquidity in the banking system [3] - Analysts expect a new round of reserve requirement ratio cuts may be implemented around year-end [2] Group 3 - The domestic GPU company Moer Thread launched its IPO with a price of 114.28 CNY per share, attracting significant institutional interest [3] - The offline subscription for Moer Thread's shares saw a subscription multiple of nearly 1600 times, indicating high demand [3] Group 4 - A-shares showed weak rebounds with significant declines in core assets due to three main variables affecting the market [4][5] - Goldman Sachs downgraded Ganfeng Lithium's H-shares to "sell" and lowered lithium price expectations for 2026 by 14% [6] Group 5 - Alibaba's AI assistant Qianwen achieved over 10 million downloads in one week, becoming the fastest-growing AI application [7] - Another AI assistant, Ant Lingguang, reached over 200,000 downloads in six days, surpassing ChatGPT's performance [7] Group 6 - The Chinese Foreign Ministry stated that conditions are not suitable for holding a trilateral meeting with Japan and South Korea [8] - Industrial Fulian's stock faced a significant drop, attributed to market rumors, but the company confirmed its operational plans remain on track [9] Group 7 - Goldman Sachs predicts the Federal Reserve will implement a third consecutive rate cut in December, with two additional cuts expected in 2026 [10] - The market currently anticipates a 69.5% probability of a 25 basis point rate cut in December [10] Group 8 - New 3D printing materials developed by the University of Virginia show potential for applications in solid-state batteries and medical technologies [12] - The global 3D printing market is projected to reach 115 billion USD by 2030, with a compound annual growth rate of approximately 30% [12] Group 9 - Dragon Power Technology signed a significant contract worth over 45 billion CNY [18] - Antai Technology secured a key order worth nearly 70 million CNY related to controllable nuclear fusion [18]

11月24日，金融监管总局网站披露的批复信息显示，北京法巴天星财产保险股份有限公司已于10月17日 获准开业，并接受北京金融监管局的属地监督管理。该公司有法国巴黎保险集团、四川银米科技有限责 任公司、大众汽车金融服务海外股份公司三家股东。 图片来源：金融监管总局网站 小米集团成员参股 其中，比亚迪财险备受关注。2023年，比亚迪收购易安财险100%股权，获得保险公司牌照，并将易安 财险更名为比亚迪财险。三季度偿付能力报告显示，2025年前三季度，比亚迪财险实现保险业务收入 20.70亿元，净利润1.05亿元。2025年前三季度，比亚迪财险签单保费为20.86亿元，均通过直销渠道签 单，其中车险签单保费为20.60亿元。 批复信息显示，法巴天星财险注册资本为10亿元，该公司共有三家股东。其中，法国巴黎保险集团出资 4.9亿元，持股49%；四川银米科技有限责任公司出资3.3亿元，持股33%；大众汽车金融服务海外股份 公司出资1.8亿元，持股18%。 天眼查信息显示，四川银米科技有限责任公司成立于2005年，注册地在成都，为小米集团成员，该公司 法定代表人林世伟是小米集团副总裁、首席财务官。 根据批复信息，法巴天星 ...

雷军持小米集团股比例增加至23.26%。 根据小米官方消息，雷军个人斥资超1亿港元增持小米集团260万股。 那么截至目前，雷军持股比例增加至23.26%。 雷总都增加持股了，普通米粉，是不是可以盲买了？ ...

Core Insights - The Hang Seng Index rose by 1.97% on November 24, with southbound trading totaling HKD 102.72 billion, resulting in a net inflow of HKD 8.57 billion [1][2] Trading Activity - Southbound trading saw a total turnover of HKD 1,027.23 million, with buy transactions amounting to HKD 556.47 million and sell transactions at HKD 470.76 million, leading to a net buy of HKD 85.71 million [1] - The Hong Kong Stock Connect (Shenzhen) recorded a total turnover of HKD 437.54 million, with net buying of HKD 64.94 million, while the Hong Kong Stock Connect (Shanghai) had a turnover of HKD 589.69 million and a net buy of HKD 20.78 million [1] Active Stocks - Alibaba-W was the most actively traded stock with a total turnover of HKD 167.75 million and a net buy of HKD 40.66 million, closing up by 4.67% [1][2] - Other notable stocks included Tencent Holdings with a net buy of HKD 11.67 million and Kuaishou-W with a net buy of HKD 8.19 million [1] - Semiconductor company SMIC saw the highest net sell of HKD 10.24 million, closing down by 1.09% [1][2] Continuous Net Buying - Alibaba-W, Southern Hang Seng Technology, and Tencent Holdings experienced continuous net buying for 8, 5, and 3 days respectively, with Alibaba-W leading in net buy amount at HKD 173.86 million [2]

Market Overview - On November 24, the Hang Seng Index rose by 1.97%, closing at 25,716.50 points, with a net inflow of HKD 8.571 billion through the southbound trading channel [1][3] - The total trading volume for the southbound trading on that day was HKD 102.723 billion, with a net buy of HKD 8.571 billion [1] Southbound Trading Details - The Shanghai Stock Exchange's southbound trading had a total transaction amount of HKD 58.969 billion, with a net buy of HKD 2.078 billion [1] - The Shenzhen Stock Exchange's southbound trading had a total transaction amount of HKD 43.754 billion, with a net buy of HKD 6.494 billion [1] Active Stocks - Alibaba-W was the most actively traded stock, with a transaction amount of HKD 96.853 billion on the Shanghai Stock Exchange and HKD 70.891 billion on the Shenzhen Stock Exchange, resulting in a net buy of HKD 8.823 billion and HKD 31.84 billion respectively, with a closing price increase of 4.67% [2] - Semiconductor Manufacturing International Corporation (SMIC) had the highest net sell amount of HKD 4.83 billion, with a closing price decrease of 1.09% [1][2] - Other notable stocks included Xiaomi Group-W and Tencent Holdings, with transaction amounts of HKD 24.54 billion and HKD 21.19 billion respectively, and closing price increases of 1.52% and 2.38% [2]

11月18日，小米集团发布2025年第三季度业绩。今年第三季度，小米集团实现营收1131.2亿元，同比增 长22.3%；实现经调整净利润113.1亿元，同比增长80.9%。 （文章来源：证券日报） 公告显示，上述增持事项后，雷军持有小米集团40.63亿股A类普通股及19.936亿股B类普通股，合计相 当于该公司已发行股份数约23.26%。 事实上，就在近日，小米集团于11月20日、11月21日接连回购公司股票。其中，11月20日回购1350万 股，回购总额5.08亿港元；11月21日回购800万股，回购总额3.03亿港元。 今年9月份以来，小米集团股价持续下跌。截至11月24日收盘，小米集团股价报收38.66港元/股，总市值 1.01万亿港元。相较于9月25日高点的59.9港元/股，下跌35.46%。 11月24日晚，小米集团发布公告称，该公司创始人、董事长兼CEO雷军于2025年11月24日自公开市场通 过由其全资拥有的Team Guide Limited购入总计260万股小米集团B类普通股，平均价为每股约38.58港 元。据此计算，雷军此次增持金额超过1亿港元。 ...

#雷军增持#【 #雷军斥资超1亿港元增持小米260万股#】 11月24日，小米集团于港交所发布公告表示，小米集团创始人、董事长兼CEO雷军个人斥资超1亿港元 增持小米集团260万股，雷军持股比例增加至23.26%。本月，小米集团连续两日大手笔回购公司股票 2150万股，总斥资金额超8亿港币。今年以来，小米集团累计回购金额已超23亿港币。（界面） ...

11月24日，小米集团于港交所发布公告披露，小米集团创始人、董事长兼CEO雷军个人斥资超1亿港元增持小 米集团260万股，其个人持股比例增加至23.26%。 小米集团董事会认为，增持事项显示雷军对公司的发展前景及增长潜力充满信心。 本月，小米集团连续两日大手笔回购公司股票，总金额超8亿港元。今年以来，小米集团累计回购金额已超23 亿港元。 11月18日，小米集团发布业绩公告：2025年第三季度实现营收约1131.21亿元，同比增长22.3%，连续4个季度突 破千亿元；经调整净利润为113亿元，创历史新高，同比增长80.9%。 11月20日，第50万辆小米汽车正式下线，创全球新能源车企50万辆下线的最快纪录。当天，雷军发微博长文表 示："行胜于言、以行践言，我们会用行动向大家交出更好的答卷。" ...

Macro Dynamics - The People's Bank of China will conduct a 1-year MLF operation of 1 trillion yuan on November 25, 2025, to maintain ample liquidity in the banking system [2] Oil Price Adjustment - Domestic gasoline and diesel prices will be reduced by 70 yuan and 65 yuan per ton respectively, effective from November 24, 2023, with 92 gasoline decreasing by 0.05 yuan per liter, resulting in a savings of 2.5 yuan for a full 50-liter tank [3] Financial Institutions - Morgan Asset Management forecasts a 7.7% annualized return for A-shares over the next 10-15 years, despite a year of rising global stock markets [7] - Citi's wealth management head indicates that record inflows from wealthy clients suggest that the U.S. stock market still has room for growth [8] Market Data - On November 24, the market rebounded with the ChiNext Index rising by 0.31%, driven by strong performances in the aerospace, military, and AI application sectors [8] Company Dynamics - Zhaoyi Innovation plans to achieve mass production of its self-developed LPDDR4X series products next year, supported by its investment in Changxin Technology [10] - Xiaomi Group's founder Lei Jun invested over 100 million HKD to increase his stake to 23.26%, while the company repurchased 21.5 million shares this month [11] - Industrial Fulian confirmed that it has not lowered its profit target for Q4, with operations proceeding as planned [12] - Unisoc announced that its 800G CPO silicon optical switch is ready for mass production and commercial delivery, supporting high-speed interconnect needs for AI workloads [13]

随着公募、私募、险资等机构资金持续入场，南向资金的增量空间仍值得期待；11月世界互联网大会乌镇峰 会、2025全球计算大会等科技盛会接连揭幕，有望点燃新的产业预期，最终推动港股科技行情向上拓展。 AI重塑全球股市 10月帷幕之下，全球科技巨头再度以夺目的市场表现，昭示其无可撼动的"统治力"。 英伟达于10月29日叩开5万亿美元市值之门，微软市值一度站上4万亿美元关口；OpenAI与AWS签署的380亿美 元算力协议，也将亚马逊股价推至历史新高。 美国科技七巨头的强势，直接带动纳指和标指走高。这场狂欢背后，本质上是AI产业从概念逐渐落地的缩 影。大模型训练、云服务、算力需求都在快速变现，产业浪潮仍处在增长势头中。 在中国，AI产业链在政策与资本的助推下狂飙突进。宏观和微观层面的变动，也让全球投资者看到了中国科 技产业的希望，并积极借道港股来参与。 即便在当前港股调整之际，南向资金却依旧表现出强烈的买入意愿，近三个月买入近4000亿港元，年内净流入 量更是达到1.26万亿港元。当各路资金对港股科技板块维持"扫货"态势时，港股通互联网ETF（159792）的规 模也在不断扩张，一度接近千亿元关口。 当旧金山、杭州、 ...