Economic Data Summary - In September, the GDP growth rate slowed to 4.8%, marking the lowest point in a year, while the cumulative GDP growth for the first three quarters reached 5.2% [3] - The industrial added value significantly exceeded expectations, growing by 6.5% year-on-year in September, supported by an increase in working days and strong export performance [4] - Fixed asset investment turned negative at -0.5% year-on-year for the first nine months, the first negative growth since mid-2020, with real estate investment in September dropping by 21.2%, a historical low [4] - Retail sales growth further slowed to 3.0%, the lowest since December last year, influenced by the timing of the Mid-Autumn Festival and a decrease in consumer spending [4] - Urban residents' disposable income grew by 4.5%, while spending increased by only 3.9%, indicating a savings rate of 38.3%, consistent with the past two years but higher than pre-pandemic levels [4] Market Trends - On October 20, A-shares saw collective gains, with the Shanghai Composite Index rising by 0.63%, Shenzhen Component by 0.98%, and ChiNext by 1.98% [8] - The coal and gas sectors experienced significant gains due to cold weather impacts, with coal prices rising, and expectations of supply tightening due to safety inspections [8] - The cultivated diamond sector saw a surge, with stocks like Huifeng Diamond hitting the daily limit [8] Company Performance - Keda Xunfei reported a net profit of 172 million yuan for Q3, a year-on-year increase of 202.40% [12] - Alloy Investment's Q3 net profit surged to 2.68 million yuan, up 4985.25% year-on-year [12] - China Shipbuilding's net profit for the first three quarters is expected to be between 4.08 billion and 4.68 billion yuan, reflecting a year-on-year increase of 106.93% to 137.36% [12] Industry Insights - The deep earth economy is gaining attention, focusing on the development of deep earth resources and related industries, as highlighted by the Ministry of Natural Resources [13] - Goldman Sachs noted China's strong influence over rare earths, suggesting that the country is unlikely to abandon proposed controls, which could lead to various market responses [7] Stock Market Dynamics - The net inflow of main funds reached 37.95 billion yuan, with the electronics sector seeing the largest inflow [17] - The top five sectors for net inflow included electronics, communication, machinery, power equipment, and coal [17] - Northbound trading totaled 234.73 billion yuan, with significant transactions in banks and rare earths [20]

Core Viewpoint - Wanrun Technology (002654.SZ) has announced that recent rumors regarding "online roadshows and large orders" are false, as the company has not conducted any investor relations activities or accepted any form of research recently [1] Summary by Categories - **Company Activities** - The company confirmed that it has not engaged in any investor relations activities or received any form of research inquiries recently [1] - **Market Impact** - There have been no reports in public media that could have significantly impacted the company's stock trading price due to undisclosed major information [1]

Core Viewpoint - The company, Wanrun Technology (002654.SZ), has experienced abnormal stock price fluctuations, with a cumulative increase of over 20% in closing prices over three trading days. The company has clarified that recent rumors regarding an online roadshow and large orders are false [1] Group 1 - The company's stock price increased significantly, with a cumulative rise exceeding 20% over three trading days (October 16, 17, and 20, 2025) [1] - The company has identified that there are rumors circulating in the market about an online roadshow and obtaining large orders, which have been confirmed as untrue [1] - The company has not conducted any investor relations activities or accepted any form of research related to the aforementioned rumors [1]

Core Viewpoint - Wanrun Technology (002654) announced on October 20 that its stock price had deviated significantly, with a cumulative increase of over 20% in the closing price over three consecutive trading days [1] Group 1 - The company discovered that there were rumors circulating in the market regarding "Wanrun Technology's online reverse roadshow and obtaining large orders" [1] - Upon investigation, the company confirmed that it had not conducted any such investor relations activities or accepted any form of research recently [1] - The information related to the aforementioned rumors was identified as false [1]

Core Viewpoint - Wanrun Technology (002654.SZ) announced that its stock price has deviated significantly, with a cumulative increase of over 20% in closing prices over three consecutive trading days (October 16, 17, and 20, 2025) [1] Group 1 - The company identified that there is circulating information in the market regarding "Wanrun Technology's online reverse roadshow and obtaining large orders" [1] - Upon investigation, the company confirmed that it has not conducted any such investor relations activities or accepted any form of research recently [1] - The information related to the aforementioned activities is deemed to be false [1]

Core Viewpoint - Wanrun Technology announced that its stock experienced an abnormal fluctuation with a cumulative closing price increase of over 20% during three consecutive trading days, specifically on October 16, 17, and 20, 2025 [1] Summary by Relevant Sections - **Stock Performance** - The stock price of Wanrun Technology showed a significant increase, with a cumulative rise exceeding 20% over three trading days [1] - **Market Rumors** - The company confirmed that circulating information regarding "online reverse roadshows and obtaining large orders" is false [1] - **Operational Status** - Wanrun Technology stated that its production and operational conditions are normal, with no significant changes in the internal and external business environment [1] - **Insider Trading** - During the period of abnormal stock fluctuation, the controlling shareholder and actual controller did not buy or sell any company stock [1] - **Investor Advisory** - The company advised investors to pay attention to official disclosures and to be cautious of investment risks [1]

证券代码：002654 证券简称：万润科技 公告编号：2025-055号 深圳万润科技股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 深圳万润科技股份有限公司（以下简称"公司"或"万润科技"）股票（证 券简称：万润科技，证券代码：002654）连续 3 个交易日内（2025 年 10 月 16 日、10 月 17 日、10 月 20 日）日收盘价格涨幅偏离值累计超过 20%。根据《深 圳证券交易所交易规则》的相关规定，公司股票交易属于异常波动的情形。 二、公司关注、核实相关情况的说明 三、是否存在应披露而未披露信息的说明 公司董事会确认，公司目前没有任何根据《深圳证券交易所股票上市规则》 等有关规定应予以披露而未披露的事项；董事会也未获悉公司有根据《深圳证券 交易所股票上市规则》等有关规定应予以披露而未披露的、对公司股票交易价格 产生较大影响的信息；公司前期披露的信息不存在需要更正、补充之处。 1 四、必要的风险提示 针对上述情况，公司通过书面及通讯等方式对相关事项向相关方进行了核实， 现就有 ...

Group 1 - Wanrun Technology (002654.SZ) experienced a limit-up increase today, with a turnover rate of 15.87% and a transaction volume of 2.225 billion yuan [1] - The top buying seat was Zhejiang Zheshang Securities Hangzhou Wuxing Road, with a net purchase of 112 million yuan, followed by "Chengguanxi" with a net purchase of 70.46 million yuan [1] - The total net buying from the top trading seats amounted to 228 million yuan, with total buying of 479 million yuan and selling of 251 million yuan [1] Group 2 - The top five buying trading departments accounted for a total of 21.51% of the overall transaction volume, with the highest being Zhejiang Zheshang Securities at 5.05% [2] - The top selling trading departments included the deep stock connect, which had a selling amount of 107.64 million yuan, representing 4.84% of the total transaction [2] - The total buying amount from the top five buying and selling departments combined was 478.55 million yuan [2]

Core Viewpoint - The company emphasizes the importance of technological innovation and research investment to enhance its competitive edge in technology and products [1] Group 1 - The company has a subsidiary, Hubei Yangtze Wanrun Semiconductor Technology Co., Ltd., which offers a product line that includes solid-state drives (SSD), embedded storage (eMMC) products, and memory products [1]

Core Viewpoint - Wanrun Technology's stock experienced a significant increase, reaching the daily limit with a turnover rate of 15.87% and a transaction volume of 2.225 billion yuan, indicating strong market interest and activity [2]. Trading Activity - The stock's price deviation reached 9.02%, leading to its listing on the Shenzhen Stock Exchange's watch list for unusual trading [2]. - Institutional investors net sold 13.7447 million yuan, while the Shenzhen Stock Connect saw a net purchase of 12.9412 million yuan [2]. - The top five trading departments accounted for a total transaction volume of 729 million yuan, with net buying of 228 million yuan [2]. Fund Flow - The stock saw a net inflow of 417 million yuan from major funds, with large orders contributing 511 million yuan to the inflow, while large orders experienced a net outflow of 93.9756 million yuan [2]. - Over the past five days, the net inflow of major funds totaled 778 million yuan [2]. Margin Trading Data - As of October 17, the margin trading balance for the stock was 955.7 million yuan, with a financing balance of 955 million yuan and a securities lending balance of 1.8882 million yuan [3]. - In the last five days, the financing balance decreased by 7.6018 million yuan, a decline of 0.79%, while the securities lending balance increased by 302.7 thousand yuan, an increase of 19.09% [3]. Major Trading Departments - The top buying and selling departments included: - Zhejiang Merchants Securities, which had the highest buying amount of 112.3499 million yuan and minimal selling [3]. - The Shenzhen Stock Connect was the second-largest buying department and the largest selling department, with a buying amount of 108.6483 million yuan and selling amount of 94.7071 million yuan [3].