LPR为何持续按兵不动，宁王业绩超预期，带来啥影响？

Group 1: Monetary Policy and LPR - The People's Bank of China (PBOC) has kept the Loan Prime Rate (LPR) unchanged at 3% for 1-year and 3.5% for over 5 years for five consecutive months [1] - The stability in LPR is attributed to several factors, including the historical low net interest margin of commercial banks, lack of tight funding conditions, and the need to avoid widening the interest rate differential with the US [1][2] - The PBOC's approach to LPR adjustments is strategic, focusing on actual market demand rather than blindly lowering rates to stimulate financing [2] Group 2: Company Performance - CATL reported a net profit of 18.55 billion yuan for Q3 2025, a year-on-year increase of 41.21%, with a total net profit of 49 billion yuan for the first three quarters, up 36.2% [4] - The performance of CATL is seen as exceeding expectations, providing support for its stock price despite concerns about high valuations [4] - CATL's growth rate remains robust, suggesting strong operational performance akin to that of a younger company, contributing to its stock price doubling since its Hong Kong listing [4] Group 3: Consumer Electronics - iPhone 17 standard version sales have surged, nearly doubling those of the iPhone 16, attributed to improved specifications without a price increase [4] - The strong sales reflect the market's positive response to Apple's ecosystem and product quality, reinforcing confidence in Apple's future growth and its supply chain [5]