卓驭科技相关负责人在接受《中国经营报》记者采访时解释称，中国一汽的资金之于卓驭科技并不只是 财务投入，更重要的是其背后承载的体系协同：供应链、整车验证场景、软硬件集成能力，这些都决定 了下一阶段技术能否以更低成本、更高安全级别落地到公共交通、乘用车以及海外市场。 卓驭科技为何赢得一汽战投？ 卓驭科技获得来自中国一汽超过36亿元的战略投资，使这家以技术见长的智能驾驶企业首次站到产业资 本聚光灯下。这一体量在当下资本趋于谨慎的周期中格外醒目，但更受关注的是，中国一汽选择在此时 扩大与卓驭科技的绑定，折射出的产业博弈方向。 中经记者 陈靖斌 广州报道 近日，中国第一汽车集团有限公司（以下简称"中国一汽"）以超36亿元的规模入局深圳市卓驭科技有限 公司（以下简称"卓驭科技"）。这笔投资的资金体量引人侧目，资本关注的是它背后折射的智能驾驶产 业竞速方向——央企开始主动"把关键技术握在自己手里"。 在卓驭科技看来，中国一汽的加入属于智能驾驶产业迈向"规模化节点"的信号——头部主机厂的技术路 线选择，往往意味着产业链的资源重新分配。 企业跳出"技术优但规模小"困境的关键变量。 多元资本下注背后的价值 资本正在围绕卓驭科技形 ...

Core Viewpoint - FAW Jiefang Group is enhancing its strategic position in the new energy commercial vehicle sector by increasing capital in its joint venture, Jiefang Times New Energy Technology Co., Ltd., alongside existing shareholders CATL and new investor Telepower [4][5][6] Group 1: Investment and Capital Increase - FAW Jiefang plans to inject 191 million yuan into Jiefang Times through its wholly-owned subsidiary, with total capital increase from all parties amounting to 412 million yuan [3][4] - Post-investment, Jiefang Times' registered capital will rise from 90 million yuan to approximately 491 million yuan, with shareholding ratios of 47.027% for both FAW Jiefang and CATL, and 5.946% for Telepower [3][5] Group 2: Business Growth and Financial Performance - Jiefang Times has shown rapid revenue growth, increasing from 23.61 million yuan in 2023 to 480 million yuan in 2024, with 477 million yuan in the first nine months of 2025 [3][6] - Despite revenue growth, profitability remains a challenge, with net profits of 195,100 yuan in 2024 and a loss of 213,850 yuan in the first nine months of 2025 [6] Group 3: Strategic Positioning and Industry Context - The investment is part of FAW Jiefang's broader strategy to strengthen its new energy vehicle ecosystem, focusing on the synergy of vehicle, electricity, and network [4][8] - The commercial vehicle industry is experiencing a recovery, with significant growth in new energy commercial vehicle sales, which increased by 60.2% year-on-year in the first ten months of 2023 [9][10] Group 4: Future Goals and Market Position - FAW Jiefang aims to become a leading provider of green intelligent transportation solutions, targeting a brand value, revenue, and market capitalization of 100 billion yuan by 2030 [10] - The company has achieved a 17.6% market share in the new energy heavy truck sector, becoming a market leader in September 2023 [10]

Core Viewpoint - The regular adjustment of index samples for various indices including CSI 300, CSI 500, CSI 1000, CSI A50, CSI A100, and CSI A500 will take effect after the market closes on December 12, as announced by China Securities Index Co., Ltd. on November 28 [1]. Group 1: CSI 300 Index Adjustments - The CSI 300 index will replace 11 samples, with new additions including Guolian Minsheng, Guangqi Technology, Ningbo Port, Huadian New Energy, Dongshan Precision, Zhongtian Technology, Zhinanceng, and Light Media. The removed samples include FAW Liberation, Oppein Home, Flat Glass, Longyuan Power, and Trina Solar [2][3]. - The number of samples in the information technology and communication services sectors will increase by 4 and 2 respectively, with weightings rising by 1.46% and 0.75% [5]. Group 2: CSI 500 Index Adjustments - The CSI 500 index will replace 50 samples, with new additions such as Dongfang Yuhong, Heertai, Huahong Company, Yantian Port, Dazhu CNC, Oppein Home, Zhongce Rubber, and Supor. Removed samples include China Great Wall, Semir Apparel, Zhongwen Media, and Wangfujing [5]. - The industrial sector will see an increase of 11 samples, with a weighting rise of 2.48% [6]. Group 3: CSI 1000 Index Adjustments - The CSI 1000 index will replace 100 samples, with new additions including Fenghua Hi-Tech, Shijia Photon, Guoji Precision, Yongding Co., Fuling Pickled Cabbage, Galaxy Magnet, and Hanyu Pharmaceutical [6]. - The number of samples in the communication services and industrial sectors will increase by 6 and 2 respectively, with weightings rising by 0.44% and 0.37% [6]. Group 4: Other Indices Adjustments - The CSI A50 index will replace 4 samples, with new additions including Zhongji Xuchuang, Huagong Technology, Guangqi Technology, and Shenghong Technology, while removing ZTE, Sanhuan Group, Shanghai Airport, and Hualu Hengsheng [7]. - The CSI A100 index will replace 6 samples, with new additions such as Dongfang Fortune, Guangqi Technology, and Zhongke Shuguang, while removing Shanghai Airport, Unisplendour, and CITIC Securities [8]. - The CSI A500 index will replace 20 samples, with new additions including Zhongtian Technology, Genesis, Borui Pharmaceutical, Guotai Haitong, and Chip Origin [9].

Core Viewpoint - The China Securities Index Co., Ltd. has announced adjustments to several indices, including the CSI 300, CSI 500, CSI 1000, CSI A50, CSI A100, and CSI A500, effective after the market closes on December 12, 2025. The adjustments involve the replacement of multiple constituent stocks in these indices [1]. Group 1: Index Adjustments - The CSI 300 index will replace 11 constituent stocks, while the CSI 500 will replace 50 stocks, the CSI 1000 will replace 100 stocks, the CSI A50 will replace 4 stocks, the CSI A100 will replace 6 stocks, and the CSI A500 will replace 20 stocks [1]. - Notable additions to the CSI 300 index include Dongshan Precision (002384.SZ), Guangqi Technology (002625.SZ), and Light Media (300251.SZ) [1]. - Stocks removed from the CSI 300 index include FAW Jiefang (000800.SZ), Longyuan Power (001289.SZ), and Nasda (002180.SZ) [1]. Group 2: Detailed Replacement Lists - The detailed replacement lists for the CSI 500, CSI 1000, CSI A50, CSI A100, and CSI A500 indices include various companies, with specific stock codes and names provided in the respective tables [2][3][4][5][9][10][11]. - For instance, the CSI A50 index will see the removal of ZTE Corporation (000063) and the addition of Huagong Technology (000988) and Guangqi Technology (002625) [9][10]. - The CSI A100 index will replace stocks such as Ziguang Guowei (002049) with Guangqi Technology (002625) and Shanghai Airport (600009) with Shenghong Technology (300476) [10]. Group 3: Implications for Investors - The adjustments in the indices may influence investor sentiment and trading strategies, as the inclusion or exclusion of stocks can affect their liquidity and market perception [1]. - Investors may need to reassess their portfolios based on these changes, particularly focusing on the newly added stocks that may experience increased attention and trading volume [1].

新京报贝壳财经讯 11月27日，一汽解放发布公告称，公司拟通过全资子公司解放有限对其合营企业解 放时代现金增资1.91亿元。解放时代现有股东宁德时代及本次新引入投资者特来电拟同步对解放时代进 行增资，三方增资合计4.12亿元。本次交易完成后，解放有限、宁德时代、特来电对解放时代的持股比 例分别为47.027%、47.027%及5.946%。 编辑 杨娟娟 ...

Group 1: Company Announcements - Derun Electronics announced the appointment of Qiu Yang as the new president, succeeding Liu Biao who resigned for personal reasons [1] - Zhongyuan Tong plans to invest 5 million yuan to establish a wholly-owned subsidiary in Hong Kong and set up a branch and research institute in Xi'an to enhance R&D capabilities [2][3] - FAW Jiefang intends to increase capital by 1.91 billion yuan in its joint venture with CATL and Teld, with a total investment of 4.12 billion yuan from all parties [4][5] - Yuanli Co. plans to acquire 100% of Tongsheng Co. for 471 million yuan, aiming to enhance its strategic layout in the silicon dioxide sector [6][7] - Hangfa Technology received a government subsidy of 8 million yuan, accounting for 11.63% of its audited net profit for 2024 [8] - Saiwei Electronics reported that the National Integrated Circuit Fund reduced its shareholding to below 5% [9] - Tianpu Co. announced a stock suspension for investigation due to significant price fluctuations, with a cumulative increase of 451.80% over the past months [10] - Chen'an Technology is planning to issue shares to Hefei Guotou, which may lead to a change in control, resulting in a stock suspension [11] - Yinlun Co. intends to acquire over 55% of Deep Blue Electronics for approximately 133 million yuan [12] - Lianlong plans to invest 50 million yuan to acquire 25% of Stof Co. to expand its electronic materials business [13] - Qianyuan High-Tech's vice president plans to reduce his stake by up to 0.31% [14] - Juzi Technology's major shareholder plans to reduce his stake by up to 0.22% [15] - Perfect World’s actual controller plans to reduce his stake by up to 1.7% [16] - China CRRC intends to spin off its subsidiary CRRC Qichao for listing on the Shenzhen Stock Exchange [17] - Jingrui Electric Materials plans to acquire 76.1% of Hubei Jingrui for 595 million yuan, focusing on high-purity chemicals [18] - Zhejiang Construction Investment's asset purchase and fundraising plan has been approved by the Shenzhen Stock Exchange [19] - Tail Co. received a government subsidy of 2 million yuan, representing 13.71% of its audited net profit for 2024 [20] - Jiangsu Boyun's shareholder plans to reduce his stake by up to 1% [21] - Yonghe Intelligent Control's shareholders plan to reduce their stakes by up to 3.29% [22] - Yuhua Development reached a debt restructuring agreement involving 241 million yuan [23] Group 2: Industry Overview - Derun Electronics operates in the electronic connector and precision components sector [2] - Zhongyuan Tong is involved in the research, production, and sales of various power products [3] - FAW Jiefang is focused on the research, production, and sales of commercial vehicles [5] - Yuanli Co. specializes in the research, production, and sales of chemical products [7] - Hangfa Technology operates in the aerospace engine and gas turbine components sector [8] - Saiwei Electronics is engaged in MEMS chip development and semiconductor equipment [9] - Tianpu Co. is involved in the production of polymer materials for automotive applications [10] - Chen'an Technology focuses on public safety and emergency platform software and equipment [11] - Yinlun Co. specializes in heat exchange products and automotive air conditioning systems [12] - Lianlong operates in the polymer materials and life sciences sectors [13] - Qianyuan High-Tech is involved in seed research and agricultural services [14] - Juzi Technology focuses on machine vision equipment and control systems [15] - Perfect World is engaged in the development and operation of online games and related media [16] - China CRRC specializes in railway equipment and urban infrastructure [17] - Jingrui Electric Materials is involved in high-purity chemicals and lithium battery materials [18] - Zhejiang Construction Investment operates in construction and engineering services [19] - Tail Co. focuses on high-end equipment and smart operation services [20] - Jiangsu Boyun specializes in modified plastic products [21] - Yonghe Intelligent Control operates in water valve fittings and precision radiation therapy [22] - Yuhua Development is involved in real estate development and sales [23]

Group 1: Market Insights - Morgan Stanley is optimistic about the Chinese stock market, raising the A-share rating to "overweight" due to multiple positive incremental drivers expected next year, such as broader applications of artificial intelligence and consumer stimulus measures [1] - The National Development and Reform Commission warns against the risk of oversaturation in the humanoid robot market, noting that the industry is growing at over 50% annually and is projected to reach a market size of 100 billion yuan by 2030 [2] - The State Administration for Market Regulation is enhancing anti-monopoly enforcement and promoting fair competition to create a market environment that stimulates the vitality of various business entities [3] Group 2: Company News - Moore Threads reported that online investors abandoned the subscription of 29,302 shares, which were fully underwritten by the sponsor, with a total subscription amount of 334.86 thousand yuan [3][4] - Dongxin Co. announced a strategic cooperation framework agreement with a leading domestic cloud computing service provider, focusing on areas such as domestic cloud desktop systems and digital twin solutions [4] - Huayang Group is indirectly supplying optical communication module components to NVIDIA through international clients [4] - Guofeng New Materials plans to acquire 46.26 million shares of Jinzhan Technology, with the Shenzhen Stock Exchange agreeing to resume the review of this transaction [4] - Hunan Gold's subsidiary obtained a mining license for tungsten, magnetite, and silver, with an annual production capacity of 990,000 tons [5] - Jereh Group signed a sales contract for generator sets for North American data centers, exceeding 100 million USD, marking a significant breakthrough in the high-end power market [7] - Saiwei Electronics experienced abnormal stock trading, with the National Integrated Circuit Fund reducing its holdings by 14.26 million shares, dropping below 5% ownership [8] - Fulei New Materials has completed multiple iterations of its self-developed "electronic skin" product and achieved bulk supply, transitioning from a material supplier to a smart sensing solution provider [9] - Tianpu Co. announced a suspension of trading due to significant stock price fluctuations, with a cumulative increase of 452% since August 22 [10] - FAW Jiefang plans to increase capital in its joint venture with CATL and Telda, totaling 412 million yuan, to enhance competitiveness in the new energy commercial vehicle sector [11] - Heng Rui Medicine received clinical trial approval for five drugs, including the anti-PD-L1 monoclonal antibody, with significant research and development investments [12]

Market Overview - On November 27, 2025, A-shares showed mixed performance with the Shanghai Composite Index closing at 3875.26 points, up 0.29%, while the Shenzhen Component Index fell 0.25% to 12875.19 points, and the ChiNext Index decreased by 0.44% to 3031.30 points. Over 2700 stocks rose in value, with total trading volume in the Shanghai and Shenzhen markets at 1.71 trillion yuan, a decrease of 70 billion yuan from the previous trading day [1] - Hong Kong stocks experienced fluctuations, with the Hang Seng Index closing up 0.07% at 25945.93 points and a total trading volume of 204.73 billion HKD. The Hang Seng China Enterprises Index rose 0.03%, while the Hang Seng Tech Index fell 0.36% [1] - U.S. stock markets were closed on November 27 due to the Thanksgiving holiday, with early market closure expected on November 28 [1] New Stock Subscription - The new stock available for subscription is Bai'ao Saitou, listed on the Sci-Tech Innovation Board with a stock code of 688796. The issue price is 26.68 yuan per share, with a price-to-earnings ratio of 519.12 times. The company focuses on gene editing technology and aims to become a global source of new drugs, providing innovative animal models and preclinical drug development services [3] Regulatory News - The State Administration for Market Regulation held its fifth enterprise fair competition symposium on November 27, 2025, discussing the promotion of fair competition and optimization of the business environment. Key foreign enterprises such as Samsung, BMW, Johnson & Johnson, and Bayer participated in the discussions [4] - The administration emphasized strengthening antitrust enforcement in key areas, enhancing fair competition reviews, and addressing barriers to the construction of a unified national market to create a market-oriented, law-based, and international business environment [5] - The National Development and Reform Commission highlighted the rapid growth of the humanoid robot industry, which is expected to exceed a market scale of 100 billion yuan by 2030, growing at over 50% annually. However, it cautioned against the risk of oversaturation in the market with similar products and the potential compression of R&D space due to the influx of over 150 humanoid robot companies, many of which are startups [5]

Core Insights - Company plans to increase capital in its joint venture, Jiefang Times New Energy Technology Co., Ltd., by 191 million yuan, with total capital increase reaching 412 million yuan from all parties involved [1][2] - The capital increase aims to enhance the financial strength of Jiefang Times and strengthen its position in the new energy commercial vehicle ecosystem [1][2] Group 1: Capital Increase Details - Jiefang Times was established on March 1, 2023, as a joint venture between Jiefang Limited and CATL, each holding 50% [1] - Post-transaction, the registered capital of Jiefang Times will rise from 90 million yuan to approximately 491 million yuan, with shareholding proportions of 47.0270% for Jiefang Limited, 47.0270% for CATL, and 5.9460% for Telai Electric [1] Group 2: Strategic Importance - The capital increase is part of the company's strategic transformation and future operational development, aimed at enhancing the competitive strength of Jiefang Times in the new energy commercial vehicle sector [1][2] - The company has established a comprehensive industrial ecosystem covering key areas such as self-developed battery packs, electric motors, and drive bridges, achieving full control over core technologies [2] - The integration of resources from Jiefang Limited, CATL, and Telai Electric aims to create a collaborative ecosystem that transitions from product competition to ecosystem competition in the new energy commercial vehicle market [2]

Group 1 - Tianpu Co., Ltd. has experienced significant stock price volatility, with a cumulative increase of 451.80% from August 22, 2025, to November 27, 2025, leading to a suspension of trading for verification starting November 28, 2025 [1] Group 2 - FAW Jiefang plans to increase capital in its joint venture, Jiefang Times, by 191 million yuan, with a total capital increase of 412 million yuan alongside CATL and new investor Telepower, enhancing competitiveness in the new energy commercial vehicle sector [2] Group 3 - Qingdao Beer plans to invest in low-risk financial products with a maximum daily balance of 10 billion yuan over the next 12 months to improve fund efficiency and returns for shareholders [3] - Haohan Deep plans to acquire a 16.0656% stake in Guorui Smart for 70.68864 million yuan, increasing its ownership to 51.0656% [3] Group 4 - Huazhi Jie intends to invest 100 million yuan to establish Suzhou Kangyang Robot Co., Ltd., aligning with its strategic development plans [4] - Maide Medical's chairman proposes a share buyback of 20 million to 40 million yuan to reduce registered capital [4] Group 5 - Haichang New Materials plans to acquire 51% of Shenzhen Xinwei Communication Technology Co., Ltd. for 23.46 million yuan, gaining control over the company [5] - Hunan Gold's subsidiary obtained a mining license for a tungsten mine with an annual production capacity of 990,000 tons [5] Group 6 - Tianli Lithium Energy received two invention patents related to lithium-ion battery electrode materials, enhancing its core technology and competitive edge [6] Group 7 - Changan Automobile's indirect controlling shareholder underwent a restructuring, resulting in a new entity, China Changan Automobile Group, which holds 35.04% of Changan Automobile's shares [7] Group 8 - *ST Lian Shi's stock will resume trading on November 28, 2025, following a capital reserve increase [8] - Jia You International signed a strategic cooperation memorandum with the China-Africa Development Fund, expected to positively impact business development [8] Group 9 - China Aluminum International's subsidiary won a contract for a project worth 2.9086858 billion yuan, which could enhance the company's operational scale and profitability [9] Group 10 - Guizhou Sanli changed its stock abbreviation to "Sanli Pharmaceutical," while maintaining its full name and stock code [10] - China CRRC plans to spin off its subsidiary, CRRC Qichu, for listing on the Shenzhen Stock Exchange, retaining control over the subsidiary [10] Group 11 - Haowei Group's subsidiary plans to invest 200 million yuan in a private equity fund focused on integrated circuit-related sectors [11] - Huiyu Pharmaceutical intends to co-invest in a biomedical venture capital fund with a total initial subscription of 400 million yuan [11] Group 12 - Everbright Bank received notification of a shareholding increase by CITIC Financial Asset Management, raising its stake from 8.00% to 9.00% [12] - Mindray Medical's chairman plans to increase his stake in the company by 200 million yuan within six months [12][13]