Group 1 - The core point of the article is that Seres (601127) has been added to the Hong Kong Stock Connect eligible securities list effective December 1, following the end of its price stabilization period in the Hong Kong market and after being listed on A-shares for more than 10 trading days [1] - As of the time of reporting, Seres' A-shares have increased by over 3% and its Hong Kong shares have risen by over 6% [1]

Market Overview - The Hong Kong stock market opened higher on December 1, with the Hang Seng Index reporting 25,945.87 points, an increase of 86.98 points, or 0.34% [1] - The Hang Seng Technology Index also opened higher, reporting 5,617.67 points, with a gain of 0.33% [4] Company News - The Shenzhen Stock Exchange announced an adjustment to the Hong Kong Stock Connect securities list effective December 1, 2025, due to the end of the price stabilization period for Sirus (HK09927) and its A-share listing being active for 10 trading days [3] - Sirus opened over 4% higher today, reaching 120.90 HKD, with a gain of 5.13% [3] Sector Performance - The Hong Kong metals sector showed strong performance, with China Silver Group rising over 12%, Jiangxi Copper gaining over 8%, and other companies like China Nonferrous Mining and Minmetals Resources increasing over 6% [6] - Gold stocks also saw collective gains, with Zijin Mining and China Gold International rising over 5% [6] Strategic Insights - Huatai Securities indicated that the market is nearing a "bad news fully priced in" state, suggesting limited downside potential. They recommend focusing on sectors with improving fundamentals, particularly consumer goods and stable earnings in the pharmaceutical and internet sectors post-Q3 reports [9] - CITIC Securities believes that any short-term market declines could present better buying opportunities, advising a strategy focused on positioning for the year-end market [9] - Industrial and technological advancements are expected to remain priorities in China's high-quality transformation, with a focus on AI and domestic computing power industries benefiting from the "self-reliance in technology" narrative [10]

Group 1 - The stock of Seres (09927.HK) has increased by over 5%, specifically by 5.22%, reaching a price of 121 HKD [1] - The trading volume for Seres has amounted to 90.25 million HKD [1]

Core Viewpoint - Seres Holdings (09927) has seen a stock price increase of over 5%, currently trading at 121 HKD, with a transaction volume of 90.25 million HKD, following the announcement of its inclusion in the Hong Kong Stock Connect program effective December 1, 2025 [1] Group 1 - The Shanghai and Shenzhen Stock Exchanges announced that Seres will be added to the Hong Kong Stock Connect list due to the end of its price stabilization period in the Hong Kong market and its A-share listing being active for over 10 trading days [1] - Huachuang Securities reported that Seres has shown steady improvement in its fundamentals this year, with its "Wenjie" brand becoming a leading high-end SUV brand, demonstrating strong sales and product matrix performance [1] - The company is actively expanding into overseas markets and is positioning itself in the embodied intelligence industry, which is expected to provide momentum for its long-term development [1]

Core Viewpoint - The stock of Seres (09927.HK) has increased by 4.35% as of the report date, following an announcement from the Shenzhen Stock Exchange regarding adjustments to the list of eligible securities for the Hong Kong Stock Connect program, effective December 1, 2025 [1] Group 1 - The Shenzhen Stock Exchange has released an announcement about the adjustment of the eligible securities list under the Hong Kong Stock Connect program [1] - The adjustment is due to Seres completing its price stabilization period in the Hong Kong market and having been listed on the A-share market for more than 10 trading days [1] - The changes to the eligible securities list will take effect starting December 1, 2025 [1]

Core Viewpoint - The stock price of Seres (601127)(09927) has increased by over 5%, currently at 121 HKD, with a trading volume of 90.25 million HKD, following the announcement of its inclusion in the Hong Kong Stock Connect program effective December 1, 2025 [1] Group 1: Company Performance - Seres has shown steady improvement in its fundamentals this year, with its model "Wenjie" becoming a leading brand in the high-end SUV market, demonstrating strong sales and product matrix performance [1] - The company is actively expanding into overseas markets and is positioning itself in the embodied intelligence industry, which is expected to drive long-term growth [1] Group 2: Market Adjustments - The Shanghai and Shenzhen Stock Exchanges announced adjustments to the list of eligible securities for the Hong Kong Stock Connect program, with Seres being added due to the end of its price stabilization period in the Hong Kong market and its A-share listing being active for over 10 trading days [1]

Group 1 - Public fund self-purchase enthusiasm has increased, with net subscriptions for equity funds reaching 2.1 billion yuan in November, and total net subscriptions for the year exceeding 4.5 billion yuan, more than double the same period last year [1] - The public fund issuance market saw a "small spring" in November, with new fund establishment totaling 966.16 billion yuan, indicating strong investor interest and increased demand for year-end capital allocation [1][2] - The scale of public funds has reached nearly 37 trillion yuan, growing over 4 trillion yuan this year, reflecting the industry's maturation and the potential for further breakthroughs in serving the real economy and enhancing residents' wealth [1] Group 2 - The pilot program for commercial real estate REITs has made significant progress, with the China Securities Regulatory Commission seeking public feedback on the draft announcement, indicating a key period for the development of the REITs market [2] - The launch of commercial real estate REITs is expected to support a new model for real estate development and inject new vitality into the REITs market by revitalizing trillions of yuan in existing assets [2] Group 3 - The importance of the energy storage industry is increasing as the demand for AI computing power surges, with energy storage becoming a key driver for electricity supply in the AI era [3] - By 2025, China's energy storage industry is expected to shift to a market-oriented profit model, with installed capacity surpassing 100 million kilowatts, highlighting the growing market potential of energy storage [3] Group 4 - The first automatic nuclear power calibration system in China's nuclear power industry has been put into operation, significantly reducing calibration time from 8 hours to 70 seconds, enhancing operational efficiency [2] - The launch of the "Heqi No. 1" nuclear energy industrial steam project provides a low-carbon solution with a carbon footprint only 1/600 of that of coal, supporting industrial structure upgrades and energy transition [2] Group 5 - The valuation of Teslian Smart Technology has increased by approximately 310 times over nine years, with participation from SenseTime and JD.com, although the company has not yet achieved profitability [5] - Dongpeng Beverage is in the process of issuing H-shares and has received a filing notice from the China Securities Regulatory Commission, with plans to issue no more than 66.45 million shares [6]

Core Viewpoint - Tianfeng Securities opened nearly 9% lower due to allegations of information disclosure violations and illegal financing, leading to an investigation by the China Securities Regulatory Commission [3]. Market Performance - The A-share market opened with all three major indices rising: the Shanghai Composite Index increased by 0.14%, the Shenzhen Component Index rose by 0.42%, and the ChiNext Index gained 0.26% [5][6]. - The industrial metals sector saw significant gains, with silver and other non-ferrous metals rising over 7% and 6% respectively, including companies like Jiangxi Copper and Shenghe Resources [4]. Monetary Policy - The People's Bank of China conducted a 7-day reverse repurchase operation of 107.6 billion yuan at an interest rate of 1.4%, with 338.7 billion yuan of reverse repos maturing on the same day [7].

Core Viewpoint - The stock of the company, Seres, has increased by over 4% following its inclusion in the Hong Kong Stock Connect program, allowing for greater accessibility to investors [1] Group 1 - The company's H-shares have been officially included in the Hong Kong Stock Connect, which is expected to enhance liquidity and attract more institutional investors [1]

12月1日，港股集体高开，恒生指数涨0.34%报25945.87点，恒生科技指数涨0.21%报5611.02点，国企指 数涨0.31%报9158.34点，红筹指数涨0.1%报4197.73点。 盘面上，大型科技股多数走高，阿里巴巴涨0.99%，腾讯控股涨0.33%，京东集团跌0.69%，小米集团涨 0.54%，网易涨1.31%，美团跌2.34%，快手涨0.66%，哔哩哔哩涨0.58%；有色金属板块多股高开，江西 铜业股份涨4.82%，中国铝业涨2.76%；创新药概念活跃，华昊中天医药涨超13%；黄金股普涨，中国白 银集团涨超14%；汽车股部分高开，赛力斯涨超4%。 企业新闻 华新手袋国际控股(02683.HK)：发布截至2025年9月30日止六个月业绩，收入4.32亿港元，同比增加 22.55%；利润4826.2万港元，同比增加78.88。 湾区发展(00737.HK)：10月，广深高速公路、广珠西线高速公路及沿江高速公路(深圳段)月总路费收入 分别为约2.08亿元、7978万元及5531.2万元，同比分别减少0.5%、6%及11%。 光荣控股(09998.HK)：获授一份约5650万新加坡元的建筑合约。 海 ...