早新闻 | 四部门重磅发声

Macro Highlights - The Ministry of Finance, State-owned Assets Supervision and Administration Commission, Financial Regulatory Administration, and China Securities Regulatory Commission issued a notice emphasizing strict adherence to accounting standards for the preparation of 2025 annual reports, focusing on areas such as long-term equity investments, fixed assets, intangible assets, and revenue recognition [1] Industry News - In November 2025, Chinese brand passenger cars sold 2.169 million units, a month-on-month increase of 1% and a year-on-year increase of 5.8%, accounting for 71.4% of total passenger car sales, with a market share increase of 3.1 percentage points compared to the same period last year [3] - From January to November 2025, sales of Chinese brand passenger cars reached 18.978 million units, a year-on-year increase of 19.4%, representing 69.6% of total passenger car sales, with a market share increase of 4.6 percentage points compared to the same period last year [3] Company News - Kefa Electric announced that three shareholders plan to collectively reduce their holdings by 0.6999% [5] - Tongxingbao's subsidiary signed an operating contract worth 43.166 million yuan [5] - Kangchen Pharmaceutical's KC1086 project received FDA approval to commence clinical trials [5] - Yuantong Biological's methylene blue injection received drug registration approval from the US FDA [6] - Heng Rui Pharmaceutical's SHR-A1904 injection was included in the list of breakthrough therapy products [6] - Yu Huan CNC's wholly-owned subsidiary received a government subsidy of 3.565 million yuan [6] - Kangtai Biological's pentavalent vaccine has entered phase III clinical trials with the first subject enrolled [6] - Duofuduo expects its battery segment capacity to reach 50 GWh by the end of next year, planning to ship around 30 GWh [6]