HES(SZ:002963) Xin Lang Cai Jing·2025-11-24 00:38Market Overview - On November 21, 2025, the A-share market saw all three major indices decline, with the Shanghai Composite Index closing at 3,834 points, down 2.45%. The Shenzhen Component Index fell 3.41% to 12,538 points, and the ChiNext Index dropped 4.02% to 2,920 points. Over 5,000 stocks declined, with total trading volume reaching 1.97 trillion yuan, an increase of 250 billion yuan from the previous trading day [1]. - The Hong Kong stock market also followed the downward trend, with the Hang Seng Index falling 2.38% to 25,220.02 points and the Hang Seng Tech Index dropping 3.21% to 5,395.49 points. The total trading volume was 285.7 billion HKD, with the Hang Seng Index and the Hang Seng China Enterprises Index both down 5.09% for the week [1]. - In the U.S. stock market, all three major indices closed higher, with the Dow Jones Industrial Average rising 1.08% to 46,245.41 points. The S&P 500 and Nasdaq increased by 0.98% and 0.88%, respectively. However, the Nasdaq saw a cumulative decline of 2.74% for the week [1]. New Stock Offerings - One new stock is available for subscription today, with no new listings [2]. - The new stock, Moore Threads, is listed on the Sci-Tech Innovation Board with a price of 114.28 yuan per share and a price-to-earnings ratio of 60.12. The company focuses on the research, design, and sales of GPUs and related products, aiming to provide computing acceleration platforms for AI, digital twins, and scientific computing [3]. Regulatory Developments - The National Internet Information Office and the Ministry of Public Security have drafted a public consultation document on personal information protection for large online platforms. The draft requires that personal information collected within China must be stored domestically, and any necessary overseas transfers must comply with national data export safety regulations [4]. Foreign Investment Trends - From January to October 2025, China attracted 621.93 billion yuan in foreign investment, a year-on-year decrease of 10.3%. The number of newly established foreign-invested enterprises reached 53,782, up 14.7% year-on-year. The manufacturing sector attracted 161.91 billion yuan, while the service sector received 445.82 billion yuan. High-tech industries saw significant growth, particularly in e-commerce services, medical equipment manufacturing, and aerospace manufacturing [5]. - The Ministry of Industry and Information Technology has launched a commercial trial for satellite IoT services, which will last for two years. This initiative aims to enhance the supply in the satellite communication market and support the development of emerging industries such as commercial aerospace and low-altitude economy [5].