人民财讯11月12日电，11月12日，在上交所国际投资者大会上，上交所理事长邱勇表示，"十四五"时 期，沪港通累计成交103万亿元，较"十三五"增长288%；新增10家公司完成GDR发行，累计融资33.5亿 美元。 ...

Core Viewpoint - Three companies, Zhongxin Co., Ltd. (603091.SH), Hehe Information (688615.SH), and Yinuosi Biotechnology (688710.SH), will begin trading under the "Shanghai-Hong Kong Stock Connect" mechanism starting October 27, 2025, and will be included as eligible securities in the central settlement system [2] Group 1: Company Information - Zhongxin Co., Ltd. (603091) will be traded under the English name "ZHEJIANG ZHON-A" [2] - Hehe Information (688615) will be traded under the English name "INTSIG INFORM-A" [2] - Yinuosi Biotechnology (688710) will be traded under the English name "SHANGHAI INNO-A" [2] Group 2: Trading Mechanism - The trading of these companies will be conducted in Renminbi and will follow the general rules and operational procedures of Hong Kong settlement [2] - The central settlement system will not provide physical stock custody and withdrawal services for these securities [2]

Core Points - Three companies, Zhongxin Co., Ltd. (603091.SH), Hehe Information (688615.SH), and Innos (688710.SH), will start trading under the "Shanghai-Hong Kong Stock Connect" from October 27, 2025 [1] - These companies will be included as eligible securities in the Central Clearing System, with trading conducted in Renminbi [1] - The Hong Kong Clearing will not provide physical stock custody and withdrawal services for these securities [1] Summary by Category Company Information - Zhongxin Co., Ltd. (603091) will be trading under the English name "ZHEJIANG ZHON-A" [2] - Hehe Information (688615) will be trading under the English name "INTSIG INFORM-A" [2] - Innos (688710) will be trading under the English name "SHANGHAI INNO-A" [2] Trading Mechanism - The trading of these companies will follow the general rules and operational procedures of Hong Kong Clearing [1] - The settlement and clearing will be conducted under the continuous net settlement system of the Central Clearing System [1]

Core Viewpoint - The Hong Kong stock brokerage sector has experienced a significant rebound, with the brokerage index rising 150% over the past decade, reaching a historical high, driven by various market factors and policy changes [1][10]. Group 1: Market Performance and Historical Context - The Hong Kong stock market has undergone approximately seven rounds of brokerage rallies from January 2013 to August 2025, showcasing its volatility and recovery capability [1]. - The first major rally from March 2014 to May 2015 saw the Hong Kong Securities Index increase by 162%, while the Hang Seng Index rose by 32% [4]. - Subsequent rallies included a 21% increase in the Hong Kong Securities Index from February to April 2016 and a 20% increase from December 2017 to January 2018 [5][6]. - The most recent rally from September 2024 to now has resulted in a 151% increase in the Hong Kong Securities Index, with a 40% rise in the Hang Seng Index, indicating a significant outperformance of 111% [9]. Group 2: Factors Driving the Market - The initial rally was fueled by expectations surrounding the Shanghai-Hong Kong Stock Connect, increased corporate financing activities, and a loose liquidity environment [1]. - The second rally was supported by rising international oil prices and policy measures such as reserve requirement cuts in mainland China, alongside the anticipation of the Shenzhen-Hong Kong Stock Connect [2]. - Major policy reforms in 2017, particularly new listing rules by the Hong Kong Stock Exchange, attracted substantial southbound capital and provided new growth drivers for the brokerage sector [3]. - The COVID-19 pandemic in 2020 led to a significant increase in global liquidity, accelerating the return of Chinese concept stocks to Hong Kong, which boosted brokerage business growth [7]. - Recent market improvements have been attributed to favorable policies and enhanced market sentiment, particularly benefiting Chinese brokerages in underwriting and placement activities [8]. Group 3: Future Outlook - The current brokerage market is characterized by significant policy support, active international and domestic capital responses, and rapidly expanding trading volumes [10]. - The valuation of the brokerage sector is recovering quickly, although individual stock performance shows notable divergence, with some stocks still at historical lows and possessing recovery potential [10]. - Future performance of the Hong Kong brokerage sector will be influenced by global liquidity, policy directions, and corporate fundamentals, making it a sector to watch for investment opportunities [10].

Core Viewpoint - The company, Ying'en Biotechnology-B (09606), will be included in the Hang Seng Composite Index and the Hong Kong Stock Connect eligible securities list starting from September 8, 2025, indicating strong market recognition of its performance and value [1] Group 1 - The inclusion in the Hang Seng Composite Index and the Hong Kong Stock Connect will allow qualified investors in mainland China to directly invest in the company's shares listed on the Hong Kong Stock Exchange [1] - This inclusion is expected to further expand the company's investor base and potentially increase the trading liquidity of its shares [1]

Core Viewpoint - The announcement indicates that Ensign Bio-B (09606) will be included in the Hang Seng Composite Index and the Stock Connect program starting September 8, 2025, reflecting strong market recognition of the company's performance and value [1] Group 1 - The inclusion in the Hang Seng Composite Index signifies a high level of recognition from the capital market regarding the company's performance and value [1] - Being added to the Stock Connect program allows qualified investors from mainland China to directly invest in the company's shares listed on the Hong Kong Stock Exchange [1] - This inclusion is expected to further expand the company's investor base and potentially increase the trading liquidity of its shares [1]

Core Points - The Shanghai Composite Index opened high and rose, with the CES300 index increasing by 1.5% to 5259.53 points, with a trading volume of 633.5 billion yuan [1] - The CES300 index has seen a 3.98% increase over the past month, an 8.01% increase over the past three months, and a year-to-date increase of 16.99% [1] - The CES300 index is designed to reflect the overall performance of eligible securities under the "Shanghai-Hong Kong Stock Connect" and "Shenzhen-Hong Kong Stock Connect" [1] Index Holdings - The top ten holdings of the CES300 index include Tencent Holdings (8.77%), Alibaba-W (5.11%), HSBC Holdings (4.03%), Kweichow Moutai (2.27%), Xiaomi Group-W (2.17%), China Construction Bank (2.12%), CATL (1.87%), AIA Group (1.76%), Meituan-W (1.64%), and Ping An Insurance (1.61%) [2] - The market share of the CES300 index holdings is 51.07% from the Hong Kong Stock Exchange, 29.35% from the Shanghai Stock Exchange, and 19.58% from the Shenzhen Stock Exchange [2] - The industry composition of the CES300 index holdings includes Financials (29.42%), Consumer Discretionary (15.15%), Communication Services (14.38%), Information Technology (10.00%), Industrials (8.74%), Consumer Staples (6.06%), Health Care (5.19%), Materials (3.64%), Energy (2.77%), Utilities (2.63%), and Real Estate (2.02%) [2] Tracking Funds - Public funds tracking the CES300 index include Dachen CES300C and Dachen CES300A [3]

Group 1 - On August 18, 2025, the top three companies by trading volume in the Southbound Stock Connect were Yingfu Fund (02800) with 4.148 billion, Tencent Holdings (00700) with 3.654 billion, and Hua Hong Semiconductor (01347) with 3.365 billion [1] - In the Southbound Stock Connect for the Shenzhen-Hong Kong Stock Connect, the top three companies were Hua Hong Semiconductor (01347) with 2.360 billion, Yingfu Fund (02800) with 2.301 billion, and Tencent Holdings (00700) with 2.214 billion [1] Group 2 - In the Southbound Stock Connect, the most active companies included Yingfu Fund (02800) with a trading amount of 4.148 billion and a net buy amount of -4.130 billion, Tencent Holdings (00700) with 3.654 billion and a net buy amount of +1.098 billion, and Hua Hong Semiconductor (01347) with 3.365 billion and a net buy amount of +0.966 billion [2] - In the Shenzhen-Hong Kong Stock Connect, Hua Hong Semiconductor (01347) had a trading amount of 2.360 billion with a net buy amount of -0.577 billion, Yingfu Fund (02800) had 2.301 billion with a net buy amount of -2.283 billion, and Tencent Holdings (00700) had 2.214 billion with a net buy amount of -0.798 billion [2]

Group 1 - The core viewpoint of the news is that the CES300 index has shown positive performance, with a 4.45% increase over the past month, 8.56% over the past three months, and 13.22% year-to-date [1] - The CES300 index is designed to reflect the overall performance of eligible securities under the "Shanghai-Hong Kong Stock Connect" and "Shenzhen-Hong Kong Stock Connect" programs [1] - The index is compiled by China Securities Index Co., Ltd. and is based on a starting point of 2000.0 on December 31, 2008 [1] Group 2 - The top ten holdings of the CES300 index include Tencent Holdings (8.66%), Alibaba-W (5.27%), HSBC Holdings (4.03%), Xiaomi Group-W (2.32%), and Kweichow Moutai (2.31%) [2] - The market segment distribution of the CES300 index shows that the Hong Kong Stock Exchange accounts for 51.90%, the Shanghai Stock Exchange for 29.49%, and the Shenzhen Stock Exchange for 18.61% [2] - The industry allocation of the CES300 index indicates that finance comprises 30.07%, consumer discretionary 15.33%, communication services 13.86%, and information technology 9.29% [2] Group 3 - Public funds tracking the CES300 index include Dachen China-Hong Kong Stock Connect 300C and Dachen China-Hong Kong Stock Connect 300A [3]

Core Points - The Shanghai Composite Index decreased by 0.37%, while the CES300 index fell by 0.69%, closing at 4945.28 points with a trading volume of 381.4 billion yuan [1] - The CES300 index has shown a monthly increase of 3.18%, a quarterly increase of 8.06%, and a year-to-date increase of 11.66% [1] - The CES300 index is compiled by China Securities Index Co., Ltd. and reflects the overall performance of eligible securities under the "Shanghai-Hong Kong Stock Connect" and "Shenzhen-Hong Kong Stock Connect" [1] Index Holdings - The top ten holdings of the CES300 index include Tencent Holdings (8.31%), Alibaba-W (5.38%), HSBC Holdings (4.03%), Xiaomi Group-W (2.34%), Kweichow Moutai (2.34%), China Construction Bank (2.29%), AIA Group (1.83%), CATL (1.83%), Meituan-W (1.80%), and Ping An Insurance (1.65%) [2] - The market share of the CES300 index holdings is 51.80% from the Hong Kong Stock Exchange, 29.49% from the Shanghai Stock Exchange, and 18.71% from the Shenzhen Stock Exchange [2] - The industry distribution of the CES300 index holdings shows that finance accounts for 30.07%, consumer discretionary for 15.53%, communication services for 13.56%, information technology for 9.29%, industrials for 8.80%, consumer staples for 6.18%, healthcare for 5.23%, materials for 3.58%, energy for 2.87%, utilities for 2.82%, and real estate for 2.08% [2] Fund Tracking - Public funds tracking the CES300 index include Dachen China-Hong Kong Stock Connect 300C and Dachen China-Hong Kong Stock Connect 300A [3]