Core Points - The announcement details a new sales agreement between Invesco Great Wall Fund Management Co., Ltd. and Guolian Minsheng Securities Co., Ltd. for the sale of the Invesco Great Wall Growth Mixed Securities Investment Fund starting from November 18, 2025 [1][5] Group 1: Fund Information - The applicable fund for the new sales agreement is the Invesco Great Wall Growth Mixed Securities Investment Fund [1] - The sales institution is Guolian Minsheng Securities Co., Ltd., located at No. 8, Financial First Street, Wuxi City [1] Group 2: Business Operations - Subscription and redemption services are only available during normal subscription periods and specific open days, with details outlined in the fund's legal documents [2] - Investors can apply for regular investment plans through the sales institution, which will automatically deduct funds from their designated accounts [2] - If the sales institution offers fee discounts for one-time or regular investment subscriptions, investors can benefit from these discounts according to the institution's rules [2] Group 3: Fund Application Limits - Starting November 18, 2025, applications for subscriptions or conversions into the Invesco Great Wall Zhongdai 0-3 Year National Development Bank Bond Index Fund will be limited to a maximum of 5 million yuan per day per fund account [5] - Any applications exceeding this limit will be rejected, and the original fund shares will remain unchanged if the conversion fails [5] Group 4: Dividend Information - The fund will distribute dividends on November 20, 2025, with specific rules regarding eligibility based on the timing of applications for subscriptions or conversions [8] - Investors can modify their dividend preferences during trading hours on open days, with the last choice before the record date being the one that applies [8]

Group 1 - Yongtai Technology's wholly-owned subsidiary has received approval for trial production of a lithium battery additive project with an annual capacity of 5,000 tons, set to begin trial production [1] - Mengke Pharmaceutical has decided to terminate its plan to issue shares to a specific entity due to ongoing disagreements among major shareholders, which could impact the company's stable operations [1] - Anhui Construction's subsidiary has been approved to register and issue debt financing tools totaling 15 billion yuan, including 5 billion yuan in short-term financing notes and 10 billion yuan in medium-term notes [2] Group 2 - Koli'er plans to repurchase shares worth between 10 million and 20 million yuan, with a maximum repurchase price of 20.94 yuan per share, to implement an employee stock ownership plan [2] - Xinhua Pharmaceutical has received approval for the production of fumaric acid volnoral raw materials, which are used to treat gastroesophageal reflux disease [3] - Lianhuan Pharmaceutical has received approval for additional specifications of tadalafil tablets, expanding its product offerings for treating erectile dysfunction and benign prostatic hyperplasia [5] Group 3 - Greenland Holdings reported an increase of 1,834 lawsuits with a total amount of 6.587 billion yuan from October 21 to November 13, 2025 [7] - Lianke Technology plans to invest up to 600 million yuan of idle funds in low-risk financial products [8] - Yinglian Co. signed a strategic procurement contract for 5,000 million square meters of composite aluminum foil with a leading new energy technology company [10] Group 4 - China Eastern Airlines reported a 10.58% year-on-year increase in passenger turnover for October, with a capacity increase of 6.84% [12] - China National Airlines reported an 8.7% year-on-year increase in passenger turnover for October, with domestic and international capacity also showing growth [15] - Oupai Home plans to use 320 million yuan of idle funds to purchase structured deposits with expected annual yields between 0.65% and 2.50% [16] Group 5 - Tianwei Food has submitted H-share issuance application materials to the Hong Kong Stock Exchange, which have been accepted by the China Securities Regulatory Commission [18] - Guizhou Aviation plans to establish a subsidiary focused on the research, production, and market expansion of intelligent automotive components, with initial operating funds of 40 million yuan [20] - Daimai Co. plans to invest 100 million yuan to establish a wholly-owned subsidiary in Shanghai focused on robotics technology [22] Group 6 - Founder Securities has received approval to issue company bonds totaling up to 30 billion yuan [24] - Hengrui Medicine has received clinical trial approvals for multiple drugs, indicating ongoing research and development efforts [26] - Zhaojing Pharmaceutical's product ZG006 has received orphan drug designation from the FDA, providing various benefits for its development in the U.S. market [39]

Core Viewpoint - The home appliance industry demonstrated resilience during the 2025 Double Eleven shopping festival, with nearly 60% of consumers in first- and second-tier markets opting for new trend appliances that integrate AI features, indicating a shift in consumer preferences and a stable market outlook supported by policy and structural benefits [1][2]. Group 1: Market Performance - The Double Eleven event concluded with resilient growth in the home appliance sector, driven by promotional discounts and the recovery of policy funding, which is expected to support demand for essential appliances and structural upgrades [1]. - Major brands like Midea and Haier maintained strong performance, with Midea's COLMO suite sales increasing over 40% and Haier's suite sales exceeding 4 billion [2]. - The younger demographic is increasingly engaging with these brands, with Midea seeing over 50% growth in young consumers and Haier's Z-generation audience growing by 38% [2]. Group 2: Export Trends - There are signs of improvement in overseas sales for leading home appliance companies, despite high baseline pressures, with some companies showing sequential improvements in their international business [3]. - The positive developments in US-China trade negotiations at the end of October are expected to enhance global operations for leading brands, facilitating inventory clearance and potential export recovery [3]. - The penetration of smart appliances in overseas markets continues to grow, indicating a structural upturn in demand [3]. Group 3: Investment Outlook - The home appliance sector is expected to maintain a "stronger than market" rating, with limited pressure on domestic sales and a gradual recovery in exports anticipated [4]. - The overall valuation of the appliance sector has returned to historical low levels, presenting investment opportunities, particularly in high-quality companies with strong dividend yields [4]. - Recommended stocks include Midea Group, Haier Smart Home, Hisense Home Appliances, and Gree Electric, among others, which are expected to benefit from their competitive advantages and market positioning [4].

格隆汇11月16日丨国联民生(601456.SH)发布公告，公司于近日收到中国证监会《关于核准国联民生证 券股份有限公司股票期权做市业务资格的批复》（证监许可〔2025〕2510号）。中国证监会已核准公司 股票期权做市业务资格。 ...

Core Insights - The Chinese securities investment banking industry is at a critical juncture, facing challenges from a strong head effect in the IPO market and the need for mid-sized firms to find differentiated paths for survival [1][3] - The 19th Shenzhen International Financial Expo and the 2025 China Financial Institutions Annual Conference will take place from November 19 to 21, featuring a summit focused on strategic transformation and high-quality development in investment banking [1] Group 1 - The Shenzhen Financial Expo is a major financial event, recognized for its large exhibition area and diverse participating institutions, showcasing the latest achievements in financial services and technology innovation [1] - The summit will feature prominent speakers discussing key topics such as cross-border services for Chinese investment banks and strategies for building boutique investment banks [2] Group 2 - Two roundtable discussions will address critical industry issues: one focusing on strategic transformation and new growth curves amidst industry cycles, and the other on how investment banks can support technological innovation and new productivity [2] - The forum aims to explore how mid-sized investment banks can find differentiated survival spaces and how mergers and acquisitions will reshape the industry landscape [3]

Core Viewpoint - Guolian Minsheng Securities has received approval from the China Securities Regulatory Commission (CSRC) for its stock options market-making business qualification, indicating a significant expansion of its operational capabilities in the financial market [1]. Group 1 - The company has been granted the qualification for stock options market-making by the CSRC, as per the approval document number 2510 [1]. - The company will amend its articles of association and complete necessary regulatory filings and business license updates to comply with the approval [1]. - Preparations will be made in terms of personnel, business facilities, information systems, and operational locations to ensure the smooth launch of this new business [1].

Core Viewpoint - Guolian Minsheng Securities has received approval from the China Securities Regulatory Commission (CSRC) for its stock options market-making business qualification [1] Summary by Categories - **Company Announcement** - Guolian Minsheng Securities announced that it has received the CSRC's approval for its stock options market-making business qualification [1]

格隆汇11月16日丨国联民生(01456.HK)发布公告，公司于近日收到中国证监会《关于核准国联民生证券 股份有限公司股票期权做市业务资格的批复》(证监许可〔2025〕2510 号)。中国证监会已核准公司股票 期权做市业务资格。 ...

海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條作出。 如下公告已於上海證券交易所網站刊發，僅供參閱。 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的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 承董事會命 國聯民生證券股份有限公司 董事長 证券代码：601456 证券简称：国联民生 公告编号：2025-069 号 特此公告。 顧偉 中國江蘇省無錫市 2025年11月16日 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 高偉先生、郭春明先生及徐慧敏女士。 特此公告。 国联民生证券股份有限公司董事会 2025 年 11 月 16 日 1 国联民生证券股份有限公司 关于股票期权做市业务资格获批的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、 ...

Core Points - The company has received approval from the China Securities Regulatory Commission (CSRC) for its stock options market-making business qualification [1] Summary by Category Company Announcement - The company announced that it has recently received the approval from the CSRC regarding its qualification for stock options market-making business [1]