Core Insights - Qingdao Haitai Technology Molding Co., Ltd. (Haitai) has signed a cooperation agreement with China Mobile Shandong to jointly develop an AI-powered mold manufacturing project aimed at enhancing innovation across the entire lifecycle of mold design, production, and management [1][2] - The collaboration focuses on integrating AI into mold manufacturing, which is expected to shorten project development cycles, reduce product costs, and improve competitiveness in the automotive mold industry [1][2] Group 1 - The agreement outlines collaboration across six dimensions: expert support, product development, key tasks, R&D direction, achievement transformation, and application promotion [1] - The partnership aims to create a national-level innovation platform and accelerate the development of an AI model system for mold manufacturing [1][2] - This initiative is part of a broader strategy to promote the integration of AI in the mold industry and contribute to the establishment of an AI industrial cluster in Qingdao [1] Group 2 - Haitai has over 20 years of experience in automotive injection mold design and manufacturing, with a strong R&D capability reflected in its 105 patents, including 31 invention patents [2] - China Mobile Shandong brings significant advantages in AI technology development and resource integration, providing a solid technical foundation for the project [2] - This partnership follows a previous strategic collaboration signed in October 2025 with Wanhua Chemical and ENGEL, marking another step for Haitai in embracing advanced production technologies [2]

作为国内汽车注塑模具领域的领军企业，海泰科深耕汽车注塑模具设计制造二十余年，在汽车注塑零部 件模具研发、生产及应用场景搭建方面积累了丰富经验，拥有大量真实且高质量的模具设计数据与实践 案例。公司研发实力强大，截至2025年上半年末，公司专利数达到105项，其中发明专利31项，实用新 型专利74项，在双色注塑成型、低压注塑成型和嵌件注塑成型技术，以及模具热流道应用技术、高速多 腔模具应用技术等领域取得了较大突破。而中国移动通信集团山东有限公司凭借其在人工智能技术研 发、算力网络支撑、平台搭建及产学研资源整合方面的突出优势，尤其是依托中国移动九天研究院技术 平台与齐鲁创新院的人才技术支持，为项目落地提供了坚实的技术底座与资源保障。双方此次携手，将 实现"产业实践+技术研发"的优势互补，共同探索人工智能与模具设计、制造深度融合的新路径。 海泰科此次牵手中国移动，是继2025年10月10日在德国杜塞尔多夫与万华化学（600309）、ENGEL等 三方签署战略合作协议之后，积极拥抱先进生产技术与人工智能的又一重要举措，也将为海泰科的发展 奠定坚实的科技基础。(齐和宁) 根据协议内容，双方将在专家支持、产品开发、重点任务 ...

Core Insights - The telecommunications industry in China has shown stable performance in the first three quarters of 2023, with a steady growth in telecom business revenue, reaching CNY 13,270 billion, a year-on-year increase of 0.9% [1] - The growth in telecom business revenue is closely linked to the increase in telecom business volume, which has grown by 9% year-on-year when adjusted for last year's prices [1] - The rapid development of 5G users is a significant highlight, with 5G mobile phone users reaching 1.167 billion, accounting for 63.9% of total mobile phone users [1] Group 1 - The total number of fixed internet broadband access users reached 695 million, with a net increase of 24.86 million compared to the end of last year [1] - Users with fixed internet broadband access speeds of 100 Mbps and above reached 661 million, making up 95.2% of total users [1] - Users with fixed internet broadband access speeds of 1000 Mbps and above reached 235 million, with a net increase of 28.39 million, accounting for 33.9% of total users, an increase of 3 percentage points compared to the end of last year [1] Group 2 - The total number of 5G base stations reached 4.705 million, with a net increase of 455,000, accounting for 36.6% of total mobile base stations [2] - The penetration rates for fixed broadband users with speeds of 1000 Mbps and above in different regions are 33.9% in the East, 33.3% in the Central, 35.8% in the West, and 27.4% in the Northeast, showing increases compared to the end of last year [2] - Mobile internet access traffic in the first three quarters reached 1,206.5 billion GB in the East, 676 billion GB in the Central, 820.1 billion GB in the West, and 171.6 billion GB in the Northeast, with year-on-year growth rates of 16.8%, 16.2%, 15.1%, and 25.3% respectively [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （根據公司條例在香港註冊成立之有限公司） 股份代號：941（港幣櫃台）及80941（人民幣櫃台） 須予披露的交易 進一步轉換浦發銀行 A 股可轉債 進一步轉換浦發銀行 A 股可轉債 董事會宣佈，於 2025 年 10 月 27 日，廣東移動行使換股權將其持有的合計面值人民 幣 366,000 元（約合 401,091 港元）浦發銀行 A 股可轉債按照每股人民幣 12.51 元 （約合 13.71 港元）之轉股價轉為約 29,256 股之浦發銀行 A 股。實際轉換的浦發銀 行 A 股股數可能會因清算及交收原因而有所差異。 香港上市規則之含義 就香港上市規則而言，本集團將被視為收購約 29,256 股之浦發銀行 A 股。由於就轉 換（與過去 12 個月內收購浦發銀行 A 股合併計算）根據香港上市規則第 14.07 條之 規定所計算之最高適用百分比率超過 5%但低於 25%，故此根據香港上市規則第十四 章，轉換 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA MOBILE LIMITED 就香港上市規則而言，本集團將被視為收購約 29,256 股之浦發銀行 A 股。由於就轉 換（與過去 12 個月內收購浦發銀行 A 股合併計算）根據香港上市規則第 14.07 條之 規定所計算之最高適用百分比率超過 5%但低於 25%，故此根據香港上市規則第十四 章，轉換構成本公司一項須予披露的交易，須遵守香港上市規則項下的通知和公告 之規定。 中國移動有限公司 （根據公司條例在香港註冊成立之有限公司） 股份代號：941（港幣櫃台）及80941（人民幣櫃台） 須予披露的交易 進一步轉換浦發銀行 A 股可轉債 進一步轉換浦發銀行 A 股可轉債 董事會宣佈，於 2025 年 10 月 27 日，廣東移動行使換股權將其持有的合計面值人民 幣 366,000 元（約合 401,091 港元）浦發銀行 A 股可轉債按照每股人民幣 12.51 元 （約合 13.71 港元）之轉 ...

Market Overview - The Shanghai Composite Index rose by 1.18% on October 27, with 28 out of 31 sectors experiencing gains, led by the communication and electronics sectors, which increased by 3.22% and 2.96% respectively [1] - The media, food and beverage, and real estate sectors saw declines of 0.95%, 0.20%, and 0.11% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 136 million yuan across the two markets, with 12 sectors experiencing net inflows [1] - The electronics sector had the highest net inflow of 6.112 billion yuan, followed by the non-ferrous metals sector with a net inflow of 2.529 billion yuan [1] Communication Sector Performance - The communication sector saw a significant increase of 3.22%, with a net inflow of 2.433 billion yuan [2] - Out of 125 stocks in the communication sector, 75 stocks rose, including one that hit the daily limit, while 42 stocks declined [2] - The top three stocks with the highest net inflow in the communication sector were Hengbao Co. with 953 million yuan, followed by Xinyi Technology and Cambridge Technology with 632 million yuan and 500 million yuan respectively [2] Communication Sector Capital Outflow - The communication sector also had stocks with notable capital outflows, with the highest outflow from Hengtong Optic-Electric at 202.51 million yuan, followed by Supercom and China Mobile with outflows of 164.83 million yuan and 135.68 million yuan respectively [4]

Investment Rating - The report maintains a "Buy" rating for several key companies in the telecommunications sector, including ZTE Corporation, China Telecom, Ruijie Networks, Hengtong Optic-Electric, Huace Navigation, China Mobile, and Xinyi Technology, while China Unicom is rated as "Hold" [9][49]. Core Insights - The commercial aerospace sector is experiencing a triple inflection point in policy, performance, and technology, with the 14th Five-Year Plan highlighting the goal of building a strong aerospace nation, which is expected to elevate the focus on commercial aerospace and related industries [2][3][12]. - Performance-wise, China Star Network has accelerated its satellite launch schedule, and Shanghai Yanjin has resumed launches, which is anticipated to boost the performance of upstream satellite manufacturing and related sectors [3][13][18]. - Technologically, domestic commercial rocket companies are speeding up their IPO processes, with significant progress made on new rockets like Zhuque-3 and Tianlong-3, indicating advancements in reusable rocket technology [3][15][18]. Summary by Sections Policy Perspective - The 14th Five-Year Plan has officially introduced the goal of building a strong aerospace nation, marking a significant elevation of the aerospace industry to a core national strategy [13][14]. - The Ministry of Industry and Information Technology has granted satellite mobile communication business licenses to major operators, enabling them to legally conduct satellite direct connection services [13][14]. Performance Perspective - China Star Network has completed its ninth launch of the year, with plans to deploy approximately 1,300 satellites by the end of 2029, achieving 10% of its overall deployment goal within the next five years [14][18]. - Shanghai Yanjin's "Qianfan Constellation" successfully launched 18 satellites, bringing the total number of satellites in orbit to 108, marking a significant milestone in its network deployment [14][18]. Technology Perspective - The IPO process for domestic rocket companies is accelerating, with Zhuque-3 completing key tests and preparations for its launch, showcasing advancements in reusable rocket technology [15][18]. - Multiple types of reusable rockets are currently undergoing validation, indicating imminent advancements in rocket recovery technology [15][18].

Investment Rating - The report provides a positive outlook on the TMT industry, particularly focusing on AI applications, suggesting a strong investment opportunity in this sector [1]. Core Insights - The TMT sector outperformed the Shanghai and Shenzhen 300 index, with significant weekly gains in sub-industries such as communication network equipment (17.85%) and printed circuit boards (14.05%) [3][5]. - OpenAI launched its first AI-native browser, ChatGPT Atlas, which integrates browsing, chatting, and task automation, aiming to enhance user engagement and expand commercial applications [3][18]. - Huawei's HarmonyOS 6 was released with AI as a core feature, showing improved performance and enhanced user experience, indicating a growing penetration of AI applications in mobile devices [3][18]. Market Weekly Review - The TMT sector's performance from October 20 to October 24 showed significant gains across various sub-industries, with communication leading the way [3][5]. - The overall TMT sector outperformed the broader market, indicating strong investor interest and potential for growth [3][5]. Industry News and Key Company Announcements - OpenAI's new browser and Huawei's HarmonyOS 6 release highlight the rapid advancements in AI applications, suggesting a competitive landscape among tech giants [3][18]. - The report notes various strategic partnerships and product launches in the AI space, indicating a robust ecosystem developing around AI technologies [3][17][21].

Group 1 - The core viewpoint of the news is the performance and changes in the top holdings of the Yinhua Xinyi Flexible Allocation Mixed Fund, which reported a net value growth rate of 23.93% over the past year [1] - The fund has added new top holdings including HSBC Holdings, Standard Chartered Group, Bank of China Hong Kong, Luzhou Laojiao, ZTO Express, Wuliangye, and Shenzhou International [1] - China Mobile remains the largest holding with an increase of 22.35 million shares, while other previous top holdings such as SMIC, Xiaomi Group, CATL, Tencent Holdings, and others have exited the top ten holdings [1] Group 2 - The fund's top ten holdings now include significant investments in HSBC Holdings with 2.68 billion yuan, Standard Chartered Group with 2.48 billion yuan, and Bank of China Hong Kong with 2.47 billion yuan [1] - The fund has increased its stake in China Mobile by 6.04%, holding 3.03 billion yuan worth of shares, while it has reduced its position in Focus Media by 34.09% [1] - The overall changes in the fund's portfolio reflect a strategic shift towards financial and consumer sectors, indicating potential investment opportunities in these areas [1]

Core Points - The total cash dividends from 320 companies in the Shanghai market have exceeded 278 billion yuan as of October 24, with over 90 companies set to distribute an additional 280 billion yuan in cash dividends [1][2] - A record high of 414 companies have announced profit distribution plans, totaling over 560 billion yuan in cash dividends [1] - Major companies such as China Mobile and China Telecom have completed their cash distributions, amounting to 54.1 billion yuan and 16.6 billion yuan respectively, while the "Big Three" oil companies have distributed approximately 82.5 billion yuan in total [1] Company-Specific Summaries - China Petroleum has announced a cash dividend of 2.2 yuan per share, totaling 40.265 billion yuan, with 35.623 billion yuan allocated to A-share dividends [1] - Jagex has declared a cash dividend of 6.6 yuan per share, amounting to 474 million yuan, which represents 73.46% of its net profit for the period [2] - Guotai Junan plans to distribute 0.15 yuan per share, totaling 2.627 billion yuan, making it one of the leading brokerages in terms of dividend distribution [2] - Guodian Power intends to distribute 1 yuan per share, totaling 1.784 billion yuan, which is 48.38% of its net profit for the period [2] Upcoming Distributions - From October 27 to October 31, 20 companies will distribute a total of 9 billion yuan in cash dividends, including 京沪高铁 (19 billion yuan), 国泰海通 (26 billion yuan), and 国电电力 (18 billion yuan) [1][2] - There are still 74 companies that have not yet announced their dividend distribution plans, with a total amount exceeding 275 billion yuan expected to be distributed in the future [2]