Core Viewpoint - The "14th Five-Year Plan" emphasizes the construction of safe, comfortable, green, and smart housing to enhance the living standards of the population [2][3][4][5]. Group 1: Safety - Housing should have a robust structure and stable operation of essential utilities like water, electricity, gas, heating, and elevators to prevent safety incidents such as fires and gas leaks [2]. Group 2: Comfort - Homes should provide a healthy and comfortable living environment with appropriate spatial dimensions, reasonable functional zoning, ample natural light and ventilation, eco-friendly materials, and good indoor air quality and sound insulation [3]. Group 3: Green - The use of various green and low-carbon technologies is essential to improve the environmental performance of housing throughout its lifecycle, leading to reduced water, electricity, and gas consumption, which benefits both families and society [4]. Group 4: Smart - The integration of IoT, big data, mobile communication, and artificial intelligence technologies is crucial for creating smart housing that offers efficient and personalized services through automated responses and adjustments of housing equipment [5].

央视网消息：第二届中欧班列国际合作论坛11月18日在陕西西安举办。本届论坛以"联通亚欧，共享未来"为主题，围绕推动中欧班列高质量发 展、促进地区开放型经济发展进行深入交流，以凝聚更加广泛的国际合作共识，推动中欧班列安全稳定高效运行。 本届论坛上，国家发展改革委有关负责人介绍，在高效运输方面，目前，已布局建设14个中欧班列集结中心，2025年以来开行规模占比达 87%。同时，会同沿线国家积极推进重点口岸及通道扩能改造。 国铁集团发布第四批全程时刻表中欧班列 截至10月底中欧班列累计开行11.86万列 在保障北、中通道稳定畅通运行基础上，大力推进南通道跨里海国际运输走廊等线路发展。2025年1—10月，跨里海班列共开行371列，同比增 长超30%。 下一步，有关部门还将加快推动大数据、人工智能等高新技术应用，优化数字口岸系统和中欧班列门户网站，持续深化班列与贸易、产业、物 流、金融等领域的融合发展。 本届论坛有来自46个国家和地区的450余名代表出席，共形成111项成果，涵盖政策沟通、通道拓展、运输合作、经贸合作和金融保障等五大方 面。 在第二届中欧班列国际合作论坛上，国家发展改革委有关负责人介绍，截至10月底， ...

Core Viewpoint - Enterprise high availability servers are essential for ensuring continuous business operations during hardware or software failures, utilizing redundancy, failover, load balancing, and disaster recovery techniques to maximize reliability and service continuity [1][2]. Market Overview - The global enterprise high availability server market is projected to reach approximately $13.3 billion by 2025 and $19.3 billion by 2031, with a compound annual growth rate (CAGR) of 6.40% over the coming years [4]. Industry Chain - The industry chain for enterprise high availability servers includes upstream hardware manufacturers, midstream system integrators, and downstream enterprise users. Upstream suppliers provide processors, memory modules, storage systems, and power supplies, while midstream integrators assemble these components into high availability solutions [8]. Industry Policies - Industry policies focus on data security, operational reliability, and compliance standards, with governments in North America, Europe, and Asia-Pacific emphasizing data protection and disaster recovery guidelines. Policies often require critical sectors like banking and healthcare to adopt high availability infrastructure [9]. Development Trends - Key trends in the development of enterprise high availability servers include: - Intelligent operations and self-healing systems leveraging AI and automation to achieve zero downtime and reduce operational costs [10]. - Transition towards cloud-native high availability architectures to support hybrid and multi-cloud environments [10]. - Emphasis on green energy efficiency and low-carbon technologies to meet sustainability goals [10]. - Evolution from centralized to distributed architectures due to the rise of edge computing and 5G networks [12]. - Movement towards open and standardized industry ecosystems with modular designs and decoupled hardware and software [12]. Obstacles - The industry faces several obstacles, including: - High technical complexity requiring extensive reliability validation and compatibility testing, leading to significant barriers to entry [13]. - Elevated manufacturing and maintenance costs due to expensive components and stringent deployment conditions [13]. - High market concentration dominated by major players like HPE, Dell, and IBM, creating challenges for new entrants [13][14].

Market Overview - On November 18, A-shares saw a general decline with the Shanghai Composite Index down by 0.81%, Shenzhen Component Index down by 0.92%, and ChiNext Index down by 1.16% [1] - The total market turnover in Shanghai and Shenzhen was 19,261 billion RMB, showing a slight increase compared to the previous trading day [1] Index Performance - Among major indices, the STAR 50 Index increased by 0.29%, while other indices like the ChiNext 50 and ChiNext Index experienced declines of 1.11% and 1.16% respectively [2] - Year-to-date performance shows the STAR 20 Index up by 37.31%, while the ChiNext Index is up by 49.90% [2] Sector Performance - In sector performance, Media (1.60%), Computer (0.93%), and Electronics (0.12%) sectors showed the highest gains, while Coal (-3.17%), Electrical Equipment (-2.97%), and Steel (-2.85%) sectors faced the largest declines [6] Fund Flow - On November 18, net inflows were observed in sectors such as Hong Kong Technology (+2.719 billion), Gold (+1.930 billion), and ChiNext (+1.492 billion) [7] - Conversely, sectors like Semiconductor Chips (-1.367 billion), Shanghai 50 (-0.747 billion), and Securities (-0.575 billion) experienced significant net outflows [7] - Over the past week, Gold and Hong Kong Technology consistently attracted net inflows, indicating a prevailing risk-averse sentiment among investors [7] AI and Digital Infrastructure - Google announced the release of Gemini 3 Pro, enhancing its AI capabilities across its product suite, while Baidu reported over 50% year-on-year growth in its AI business revenue [9] - The Ministry of Industry and Information Technology issued guidelines for building high-standard digital parks, aiming to establish around 200 parks by 2027 [10] Media Sector Insights - AI-generated content, such as AI manga, shows promising profitability with lower production costs compared to traditional media [11] - Major tech companies are increasingly leveraging AI in advertising, leading to improved return on investment (ROI) and revenue growth [11] Chemical Sector Developments - The surge in the energy storage market has driven a rapid increase in demand for lithium battery materials, with significant price hikes reported [11] - Analysts predict a favorable profit outlook for lithium materials, with potential price increases expected across various battery types by the end of the year [11]

Core Insights - Smart logistics is a key path to address traditional logistics challenges such as low efficiency, high costs, poor experience, and high energy consumption, leveraging technologies like IoT, big data, cloud computing, blockchain, and AI to create an automated and intelligent logistics system [1][11][12] Summary by Sections Goals of Smart Logistics - The core objectives focus on five dimensions: improving logistics efficiency, reducing overall logistics costs, optimizing customer service experience, achieving green sustainable development, and ensuring supply chain security [24][25][26][28][29] Main Content of Smart Logistics - The system architecture includes three main components: physical infrastructure (smart logistics hubs, smart channels, and intelligent terminal devices), intelligent transport tools (autonomous trucks and delivery vehicles), and operational platforms (digital management systems) [31][32][34] Key Technologies and Applications - Key technologies driving smart logistics include IoT, big data, AI, blockchain, and digital twins, with large models becoming a new engine for efficiency breakthroughs in areas like intelligent customer service and supply chain forecasting [45][46][49] Application Scenarios - Smart logistics has penetrated various scenarios such as multimodal transport, e-commerce instant logistics, industrial supply chains, and last-mile delivery, with companies like JD Logistics and Amazon demonstrating differentiated development paths [2][6] Development Trends - Future trends in smart logistics include deeper technology integration, green low-carbon operations, and service customization, requiring policy support, innovation focus, and enhanced safety and ecological collaboration [9][10]

三是进一步夯实安全运行基础。充分发挥中欧班列沿线国家执法安全合作会商等机制的重要作用，加强 对话沟通和交流协作，共同做好通道、货物等安全保障工作，完善全链条安全治理体系。 四是进一步增强辐射带动效能。持续深化中欧班列与贸易、产业、物流、金融等融合发展，提高企业资 源要素配置效率和竞争力，促进中欧经贸合作高质量发展，实现互利共赢、共同发展。 第二届中欧班列国际合作论坛18日在陕西西安举办。本届论坛以"联通亚欧，共享未来"为主题，来自45 个国家和地区的450余名代表出席。 记者11月18日从国家发展改革委获悉，国家发展改革委将重点从四方面推动中欧班列朝着更高质量、更 好效益、更加安全方向发展。 数据显示，截至2025年10月，中欧班列累计开行11.86万列，运送货物1170万标箱，通达欧洲26个国家 232个城市，物流服务网络覆盖亚欧全境。 国家发展改革委副主任周海兵在第二届中欧班列国际合作论坛上表示，面向未来，将同沿线国家一道， 不断深化务实合作、促进互联互通。 一是进一步拓展多元高效通道。不断创新监管模式、优化查验流程，提升全程运输效率。深入推进口岸 及通道扩能改造，共同提升阿克套港、巴库港等枢纽节点运输能 ...

Core Insights - The article discusses the development and potential of the exhibition industry in Guangzhou, particularly focusing on the contributions of Guangdong Hongwei International Exhibition Group and its chairman, Wang Zhaoyun [5][10]. Company Overview - Guangdong Hongwei International Exhibition Group, founded in 2002, has become a leading player in China's exhibition industry, ranking first in the number of exhibitions held and third in annual exhibition area [5][9]. - The company has significantly expanded its exhibition space, hosting over 1 million square meters annually, which surpasses the total exhibition area of some provincial capital cities [9]. Industry Development - The exhibition industry in Guangzhou has evolved through several stages, from a small-scale operation (1.0 era) to a more international and technologically advanced platform (4.0 era) [8][10]. - The transition to the 4.0 era is characterized by increased global participation and the integration of advanced technologies in exhibitions, reflecting the industry's growth and adaptation to market demands [8][10]. Infrastructure and Challenges - The development of the Pazhou exhibition center has been crucial, overcoming initial infrastructure challenges and significantly improving accessibility [6][7]. - Despite the advancements, there are still areas for improvement, particularly in international service capabilities, such as payment systems and language support, to attract more global exhibitors and buyers [10][11]. Future Outlook - The article emphasizes the need for Guangzhou to develop a world-class IP to enhance its global appeal, similar to iconic attractions in other cities [11]. - The integration of artificial intelligence and digital economy initiatives with the exhibition industry is seen as a pathway to further growth and innovation [10].

Group 1 - The company, Quantitative Group (02685.HK), plans to globally offer 13.3475 million shares, with 1.335 million shares available in Hong Kong and 12.0125 million shares for international offering, subject to reallocation and the exercise of the over-allotment option [1] - The subscription period for the shares is from November 19 to November 24, 2025, with the expected pricing date on November 25, 2025, and the shares are priced between HKD 8.80 and HKD 9.80 per share [1] - The shares are expected to commence trading on the Hong Kong Stock Exchange on November 27, 2025, with China International Capital Corporation and CITIC Securities acting as joint sponsors [1] Group 2 - The company operates an online marketplace in China, with its e-commerce platform, Yang Xiaomei, covering a variety of retail products since November 2020, including electronics, food and beverages, appliances, cosmetics, jewelry, clothing, and personal care items [2] - The company also runs an online-to-offline (O2O) automotive retail platform called Consumption Map, which collaborates with car retailers to attract online traffic for offline purchases, and will allow online car purchases starting in 2024 [2] - Revenue from the Yang Xiaomei platform accounted for approximately 93.2% and 98.1% of the company's total revenue for the fiscal year ending December 31, 2024, and the five months ending May 31, 2025, respectively [2] Group 3 - The company plans to allocate approximately 55% of the net proceeds from the share offering to enhance its research and development capabilities and improve its technological infrastructure, including upgrading service product offerings and expanding big data storage capacity [3] - About 45% of the proceeds will be used to establish and expand proprietary local consumer applications and promote the business model through partnerships, aiming to revitalize the local economy and recruit more sales personnel [3]

● 新华社北京11月18日电（记者魏玉坤） 记者11月18日从国家发展改革委获悉，国家发展改革委将重点从四方面推动中欧班列朝着更高质量、更 好效益、更加安全方向发展。 数据显示，截至2025年10月，中欧班列累计开行11.86万列，运送货物1170万标箱，通达欧洲26个国家 232个城市，物流服务网络覆盖亚欧全境。 （上接A01版）三是进一步夯实安全运行基础。充分发挥中欧班列沿线国家执法安全合作会商等机制的 重要作用，加强对话沟通和交流协作，共同做好通道、货物等安全保障工作，完善全链条安全治理体 系。 四是进一步增强辐射带动效能。持续深化中欧班列与贸易、产业、物流、金融等融合发展，提高企业资 源要素配置效率和竞争力，促进中欧经贸合作高质量发展，实现互利共赢、共同发展。 第二届中欧班列国际合作论坛18日在陕西西安举办。本届论坛以"联通亚欧，共享未来"为主题，来自45 个国家和地区的450余名代表出席。 国家发展改革委副主任周海兵在第二届中欧班列国际合作论坛上表示，面向未来，将同沿线国家一道， 不断深化务实合作、促进互联互通。 一是进一步拓展多元高效通道。不断创新监管模式、优化查验流程，提升全程运输效率。深入推进 ...

Core Viewpoint - The 2025 World Apparel Conference held in Dongguan focused on three main themes: technological innovation, fashion creativity, and green development, aiming to inject new momentum into the high-quality development of the global apparel industry [1] Group 1: Technological Innovation - The theme "Technology Empowers Fashion, Intelligent Manufacturing New Quality Productivity" highlights the profound changes in the textile and apparel industry driven by advanced technologies like artificial intelligence and big data [3] - Zhang Jie, Executive Dean of the Artificial Intelligence Research Institute at Donghua University, delivered a keynote speech on "Digital Transformation: Innovative Pathways for the Digital Development of the Textile Industry," discussing how new technologies can optimize various stages from design to sales [3] - Several companies showcased successful cases of applying AI to enhance production efficiency and developing 3D printing solutions, providing valuable practical experiences [3] Group 2: Fashion Creativity - The fashion creativity session centered on "Diverse Demands Drive the Restructuring of Fashion Value," featuring discussions among designers from well-known apparel brands on the topic of "Inheritance and Innovation" [6] - Designers shared unique insights on combining traditional cultural elements with modern aesthetics, emphasizing the importance of cultural heritage in contemporary fashion [6] - Representatives from companies achieving significant success in the protection of intangible cultural heritage demonstrated how ancient craftsmanship is integrated into modern clothing design, creating products that are both culturally significant and market-relevant [6] Group 3: Green Development - The green development forum addressed environmental protection issues, emphasizing the need for more environmentally friendly and efficient supply chain management systems in response to climate change challenges [8] - Keynote speeches were delivered by industry leaders, including Yan Yan, Vice President of the China National Textile and Apparel Council, and Li Xia, Deputy Director of the Ecological Environment Ministry's International Cooperation and Exchange Center, who presented relevant research reports [8] - Experts unanimously agreed that strengthening international cooperation and sharing best practices are essential to effectively tackle existing challenges and achieve the green transformation goals for the entire industry [8]