Core Insights - The energy metals sector experienced a significant decline of 8.9% on November 21, with Hanrui Cobalt leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Sector Performance - Major stocks in the energy metals sector saw substantial losses, with several companies reporting a decline of 10% or more, including: - Sai Rui Aluminum: -10.98% [1] - Ganfeng Lithium: -10.00% [1] - Tibet Mining: -10.00% [1] - Yongshan Lithium: -10.00% [1] - Shengxin Lithium Energy: -10.00% [1] - Rongjie Co., Ltd.: -10.00% [1] - Tianqi Lithium: -10.00% [1] - Yongxing Materials: -9.99% [1] - Shengtun Mining: -9.14% [1] - Huayou Cobalt: -8.94% [1] Capital Flow - The energy metals sector saw a net outflow of 3.769 billion yuan from major funds, while retail investors contributed a net inflow of 2.551 billion yuan [1] - Specific stock capital flows indicated: - Ganfeng Lithium: Major net outflow of 10.90 billion yuan [2] - Huayou Cobalt: Major net outflow of 9.51 billion yuan [2] - Tianqi Lithium: Major net outflow of 7.81 billion yuan [2] - Shengtun Mining: Major net outflow of 2.79 billion yuan [2] - Tibet Mining: Major net outflow of 1.71 billion yuan [2]

每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 曾健辉） 每经AI快讯，赣锋锂业（SZ 002460，收盘价：64.14元）11月21日晚间发布公告称，公司第六届第十次 董事会会议于2025年11月21日以现场和通讯表决相结合的方式召开。会议审议了《关于提请召开2025年 第四次临时股东会的议案》等文件。 2025年1至6月份，赣锋锂业的营业收入构成为：有色金属冶炼及压延加工业占比56.78%，锂电池和电 芯及其直接材料占比35.52%，其他占比7.7%。 截至发稿，赣锋锂业市值为1321亿元。 ...

证券代码：002460 证券简称：赣锋锂业 编号：临 2025-135 江西赣锋锂业集团股份有限公司 关于召开 2025 年第四次临时股东会的通知 本公司及董事会全体成员保证公告内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 一、召开会议的基本情况 1、股东会届次：2025年第四次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深 圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指 引第1号——主板上市公司规范运作》等法律、行政法规、部门规章、 规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025年12月11日14:00 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的 具体时间为2025年12月11日9:15-9:25，9:30-11:30，13:00-15:00；通过 深圳证券交易所互联网投票系统投票的具体时间为2025年12月11日 9:15至15:00的任意时间。 7、出席对象： 1）在股权登记日持有公司股份的股东或其代理人。本次股东会 的A股股权登记日为2025年12月5日（星期五），于股权 ...

证券代码：002460 证券简称：赣锋锂业 编号：临2025-134 江西赣锋锂业集团股份有限公司 第六届董事会第十次会议决议公告 特此公告。 江西赣锋锂业集团股份有限公司 董事会 2025 年 11 月 22 日 江西赣锋锂业集团股份有限公司（以下简称"公司"）第六届董 事会第十次会议于2025年11月18日以电话或电子邮件的形式发出会 议通知，于2025年11月21日以现场和通讯表决相结合的方式举行。会 议应出席董事11人，实际出席董事11人，会议由董事长李良彬先生主 持，会议符合《公司法》及《公司章程》的规定。会议审议了所有议 案，一致通过以下决议： 一、会议以 11 票赞成，0 票反对，0 票弃权，审议通过《关于提 请召开 2025 年第四次临时股东会的议案》。 同意于 2025 年 12 月 11 日在公司总部研发大楼四楼会议室召开 公司 2025 年第四次临时股东会。 赣锋锂业《关于召开 2025 年第四次临时股东会的通知》（公告 编 号 ： 2025-135 ） 刊 登 于 同 日 《 证 券 日 报 》 和 巨 潮 资 讯 网 http://www.cninfo.com.cn。 本公司及董事会 ...

Market Overview - The US stock market experienced significant volatility, leading to a decline in the Hong Kong stock market, with the Hang Seng Index and the Hang Seng China Enterprises Index both dropping over 2% [1] - The Hang Seng Index closed down 2.38% at 25,220.02 points, with a total trading volume of HKD 285.7 billion, while the Hang Seng China Enterprises Index fell 2.45% [1] - For the week, the Hang Seng Index and the Hang Seng China Enterprises Index both saw a cumulative decline of 5.09%, and the Hang Seng Technology Index dropped 7.18% [1] Blue-Chip Stocks Performance - Xiaomi Group (01810) rose 1.01% to HKD 38.08, contributing 10.85 points to the Hang Seng Index, following a record buyback of 13.5 million shares at an average price of HKD 37.61 [2] - Among blue-chip stocks, only four saw gains, with Longfor Group (00960) up 1.43% and China Telecom (00728) up 0.69%, while Xinyi Solar (00968) and Link REIT (00823) faced significant declines [2] Sector Performance - Major technology stocks generally declined, with Alibaba down 4.65% and Tencent down 1.77%, while AI-related stocks also fell sharply [3] - Semiconductor stocks like SMIC and Hua Hong both dropped over 6%, and lithium stocks faced heavy losses due to regulatory changes affecting lithium futures [3][4] - The cryptocurrency market continued to experience a sell-off, with related stocks declining significantly [3] Lithium Stocks - Lithium stocks suffered major losses, with Ganfeng Lithium (01772) down 12.47% and Tianqi Lithium (09696) down 11.93% [4] - The futures market for lithium carbonate saw a limit down, with a 9% drop in the main contract [4] Cryptocurrency Market - The cryptocurrency market saw Bitcoin drop over 8% to USD 84,384, with Ethereum down over 9% [5] - Analysts suggest that the market is entering a "winter" phase, advising investors to take profits [5] Gaming Sector - Gaming stocks collectively declined, with Sands China (01928) down 5.97% and MGM China (02282) down 5.73% [6] - The Macau government projects a total gaming revenue of MOP 236 billion for the upcoming year, reflecting cautious optimism amid external uncertainties [6] Notable Stock Movements - Shide Global (00487) experienced a dramatic drop of 48.25% due to the termination of a service agreement affecting its operations [7] - Link REIT (00823) continued to face pressure, with a 7.47% decline following a downgrade in earnings forecasts [8]

【导读】找到原因了 兄弟姐妹们，不多说了，今天来找找原因吧。 A股大跌 11月21日，A股全天低开低走，三大指数集体下挫。截至收盘，沪指跌2.45%，深成指跌3.41%，创业板指跌4.02%。 市场共354只个股上涨，33只个股涨停，5072只个股下跌，99只个股跌停。 | 880005 31 12 22 8 | | | | --- | --- | --- | | 글 | 涨停 | | | 涨幅 | > 7% | 42 | | 涨幅 | 5-7% | 20 | | 涨幅 | 3-5% | 45 | | 涨幅 | 0-3% | 243 | | 跌幅 | 0-3% | 1413 | | 跌幅 | 3-5% | 2161 | | 跌幅 | 5-7% | 1047 | | 跌幅 | > 7% | 451 | | 其中 跌停 | | ਰੇਰੇ | | 上涨家数 下跌家数 | | 354 | | | | 5072 | | | | 27 | | 平盘停牌 总成交额 | | 5453 | | | | 19835.99亿 | | 总成交量 | | 145111.6万 | | 涨家增减 | | -2373 | | 涨家增幅 | ...

Core Viewpoint - The A-share market experienced a significant decline on November 21, with all three major indices falling sharply, influenced by a broader downturn in the Asia-Pacific markets and concerns over high valuations and economic indicators from the U.S. [2][10][12] Market Performance - The Shanghai Composite Index fell by 2.45%, the Shenzhen Component Index dropped by 3.41%, and the ChiNext Index decreased by 4.02% [2] - A total of 354 stocks rose, 33 stocks hit the daily limit up, while 5,072 stocks declined, with 99 stocks hitting the daily limit down [3][4] Sector Analysis - AI application stocks showed resilience, with companies like Vision China and Ji Qi Software hitting the daily limit up [5] - The military industry sector was partially active, with Longxi Co. hitting the daily limit up and Jiu Zhi Yang rising over 10% [7] - Conversely, lithium mining stocks collectively plummeted, with Tianqi Lithium and Ganfeng Lithium among those hitting the daily limit down [9] Broader Market Context - The downturn in the A-share market was part of a larger trend, as the Asia-Pacific markets also faced declines, with significant drops in indices such as the KOSPI and the Hang Seng Index [11] - The U.S. stock market's overnight plunge was attributed to various factors, including concerns over the sustainability of AI investments and a strong employment report that raised doubts about the Federal Reserve's ability to lower interest rates [12][13]

Market Overview - The A-share market experienced weak fluctuations with the three major indices closing lower, where the Shanghai Composite Index fell by 2.45%, the Shenzhen Component Index by 3.41%, and the ChiNext Index by 4.02% [1][2] - The total market turnover reached 198.36 billion yuan, an increase of 26.1 billion yuan compared to the previous trading day [1] Sector Performance - The China Shipbuilding sector saw a notable increase of over 3%, while sectors such as energy metals, batteries, and silicon energy underwent adjustments [2] - New stock Dapeng Industrial surged over 1200%, and leading stocks in the coated sand industry, such as Changjiang Materials, hit the daily limit [2][4] - The energy metals sector faced significant declines, with leading stocks like Ganfeng Lithium, Shengxin Lithium Energy, and Tianqi Lithium hitting the daily limit down [2] AI and Technology Sector Insights - Concerns regarding the ability of AI investments to achieve substantial capital returns through a commercial loop are central to market anxieties about the technology sector [3] - The technology sector is currently experiencing a divergence of opinions, with some analysts viewing AI valuations as high and capital expenditure pressures significant, while others remain optimistic about long-term applications [2][3] Specific Company Developments - Changjiang Materials, a leader in the coated sand industry, reported a total market value of 3.816 billion yuan and plans to expand its 3D printing sand products [6][4] - Pingao Co., Ltd. announced a planned investment of 400 million yuan in Jiangyuan Technology, acquiring a 14.2151% stake, which is expected to increase to 15.4182% post-investment [8] Price Trends in Energy Metals - The energy metals sector saw a significant drop of 9.11%, with lithium carbonate and lithium hydroxide prices expected to decline by 25.17% and 21.47% respectively in the first three quarters of 2025 compared to 2024 [9] - Analysts predict a potential rebound in energy metal prices in the third quarter of 2025, supported by macroeconomic easing expectations [9][10]

Market Overview - On November 21, A-shares experienced a collective decline across the three major indices, with the Shanghai Composite Index falling by 2.45%, the Shenzhen Component Index down by 3.41%, and the ChiNext Index decreasing by 4.02% [2][3]. Sector Performance - The lithium battery industry chain led the decline, with lithium mining stocks experiencing a wave of limit downs. Other sectors such as computing hardware, semiconductor, consumer electronics, photovoltaic, and fintech also saw significant drops [3]. - Conversely, the military industry sector showed strong performance, with stocks like Pinggao Group, Longxi Co., and TeFa Information hitting the daily limit, while JiuZhiYang and JiangLong Shipbuilding rose over 10% [3][4]. Stock Movements - Notable gainers included: - Pinggao Group: +20.00% at 49.02 - JiuZhiYang: +15.63% at 48.60 - JiangLong Shipbuilding: +14.50% at 22.42 - TeFa Information: +10.00% at 10.45 - Longxi Co.: +10.00% at 25.20 [4]. - Lithium mining stocks such as Tianqi Lithium, Ganfeng Lithium, and Shengxin Lithium Energy faced significant declines, with over ten stocks hitting the limit down [4]. Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 1.97 trillion yuan, an increase of 257.5 billion yuan compared to the previous trading day, with nearly 5,100 stocks declining [4]. Capital Flow - Main capital inflows were observed in sectors like media, agriculture, and shipbuilding, while outflows were noted in non-ferrous metals, power equipment, and electronics [6][7]. - Specific stocks with net inflows included: - Kaimete Gas: 767 million yuan - Yidian Tianxia: 641 million yuan - Vision China: 546 million yuan [6]. - Stocks facing significant net outflows included: - Industrial Fulian: 2.064 billion yuan - Shenghong Technology: 1.760 billion yuan - Xinyi Sheng: 1.729 billion yuan [7]. Analyst Insights - Qianhai JuZhen Capital indicated that the market is expected to continue its volatile adjustment phase, but the medium to long-term positive trend remains supported by capital, policy, and fundamentals [8]. - CITIC Securities suggested that the securities industry is likely to enter a new upward cycle, aligning with the core directive of enhancing the inclusiveness and adaptability of the capital market [8]. - Zhongyuan Securities projected a steady upward trend for the market in the short term, advising investors to maintain reasonable positions and avoid chasing highs or selling lows [9].

Core Viewpoint - The A-share market experienced a collective decline, with major indices falling significantly, indicating a bearish sentiment among investors [3][4]. Market Performance - The Shanghai Composite Index fell by 2.45% to 3834.89, the Shenzhen Component Index dropped by 3.41% to 12538.07, and the ChiNext Index decreased by 4.02% to 2920.08 [4]. - The lithium battery industry chain led the decline, with lithium mining stocks experiencing a wave of limit-downs [3][4]. Sector Analysis - The military industry sector showed strong performance, with stocks like Pingao Co., Longxi Co., and Tefa Information hitting the daily limit, while Jiuzhiyang and Jianglong Shipbuilding rose over 10% [3][4]. - Conversely, sectors such as semiconductor, consumer electronics, photovoltaic, and fintech saw significant declines [3]. Trading Volume and Market Breadth - The total trading volume in the Shanghai and Shenzhen markets reached 1.97 trillion, an increase of 257.5 billion compared to the previous trading day, with nearly 5100 stocks declining [6]. Capital Flow - Main capital inflows were observed in sectors like media, agriculture, and shipbuilding, while outflows were noted in non-ferrous metals, power equipment, and electronics [8]. - Specific stocks such as Kaimete Gas, Yidian Tianxia, and Vision China saw net inflows of 767 million, 641 million, and 546 million respectively, while Industrial Fulian, Shenghong Technology, and Xinyi Sheng faced outflows of 2.064 billion, 1.760 billion, and 1.729 billion respectively [8]. Institutional Perspectives - Qianhai Ju Zhen Capital suggests that the market will continue to experience fluctuations but maintains a long-term positive outlook supported by capital, policy, and fundamentals [10]. - Zhongxin Jiantou anticipates a new upward cycle for the securities industry, aligning with the "14th Five-Year Plan" to enhance the inclusivity and adaptability of the capital market [10]. - Zhongyuan Securities expects a steady upward trend in the short term and advises investors to maintain reasonable positions to avoid chasing highs and cutting losses [11].