Core Viewpoint - Huanxin Building Materials has shown significant stock performance with a year-to-date increase of 93.38%, despite a recent slight decline in the last five trading days [1] Financial Performance - For the period from January to September 2025, Huanxin Building Materials achieved a revenue of 25.033 billion yuan, representing a year-on-year growth of 1.27%, while the net profit attributable to shareholders was 2.004 billion yuan, reflecting a substantial increase of 76.01% [2] - Cumulative cash dividends since the A-share listing amount to 13.594 billion yuan, with 3.127 billion yuan distributed over the last three years [3] Stock Market Activity - As of November 20, the stock price reached 22.51 yuan per share, with a trading volume of 1.28 billion yuan and a market capitalization of 46.798 billion yuan [1] - The stock has appeared on the "Dragon and Tiger List" three times this year, with the most recent instance on July 25, where it recorded a net buy of -1.68 billion yuan [1] Shareholder Structure - As of September 30, 2025, the number of shareholders decreased by 6.81% to 42,600, with an average of 0 circulating shares per person [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 5.1895 million shares, and Southern CSI 500 ETF, which reduced its holdings by 213,700 shares [3]

当地时间11月18日，国务院总理李强在莫斯科出席上海合作组织成员国政府首脑（总理）理事会第二十 四次会议。上合组织成员国、观察员国、对话伙伴国领导人和代表，东道国客人以及有关国际组织负责 人与会，俄罗斯总理米舒斯京主持会议。 三是激发创新和转型的强劲活力。加强科技、产业创新合作，推进传统和可再生能源合作。中方欢迎各 方积极参与上合组织数字经济论坛和中国-上合组织人工智能合作论坛，愿共同建好用好中国－上合组 织数字经济合作平台、科技创新合作中心，扎实推进未来5年新增"千万千瓦光伏"和"千万千瓦风电"项 目。 李强指出，在上合组织天津峰会上，与会领导人共同批准《上合组织未来10年（2026－2035年）发展战 略》。中方愿同各成员国一道，更加注重战略协同，有效推进合作落实，优化完善运行机制，进一步增 强凝聚力、行动力、影响力，不断把上合组织做优做强。 与会各方表示，上合组织为促进区域一体化发展，推动建立公正合理的多极世界发挥日益重要作用。各 方应携手落实天津峰会成果，完善组织机制，对接共建"一带一路"倡议，实施未来10年发展战略，促进 互联互通、经贸、安全、人文等领域合作，践行全球治理倡议，维护多边主义和联合国中 ...

Core Viewpoint - Amway Co., Ltd. has experienced fluctuations in stock price and financial performance, with a notable decrease in revenue and net profit for the first nine months of 2025 compared to the previous year [2][3]. Financial Performance - As of November 10, 2025, Amway Co., Ltd. reported a revenue of 1.679 billion yuan, a year-on-year decrease of 6.84%, and a net profit attributable to shareholders of 121 million yuan, down 19.22% year-on-year [2]. - The company's stock price increased by 13.11% year-to-date but has seen a decline of 5.15% over the last five trading days, 1.38% over the last 20 days, and 21.56% over the last 60 days [1]. Shareholder Information - As of November 10, 2025, the number of shareholders increased to 18,400, representing an 8.63% rise, while the average circulating shares per person decreased by 7.95% to 11,729 shares [2]. - The company has distributed a total of 341 million yuan in dividends since its A-share listing, with 131 million yuan distributed in the last three years [3]. Major Shareholders - As of September 30, 2025, the top ten circulating shareholders included several new entrants, such as Yongying Advanced Manufacturing Mixed Fund and Jiang Hai Securities Co., Ltd., while some previous shareholders exited the list [3].

不过，虽然短期内市场疲软，但该行认为中国明年的钢铁需求然稳定。鞍钢股份的核心产品将受益于制 造业的强劲表现。在出口方面，由于鞍钢约有7%收入来自海外市场，预期公司的出口将受益于一带一 路国家强劲的需求和有利的价格差。其中预期今明两年分别亏损31.26亿及16.8亿元人民币，而2027年预 期亏转盈至8,800万元人民币，目标价相应由1.7港元上调至2.45港元。 瑞银发布研报称，上调鞍钢股份(00347)2025至2027年的盈测，维持"中性"评级，前九个月净亏损同比 收窄至20.4亿元人民币，第三季表现大幅逊色于预期,第四季的前景仍然疲弱，旺季需求已提前在第三季 释出，而供暖季可能会抑制11至12月的消费。该行相信，在缺乏明确催化剂的情况下，短期盈利前景不 太明朗。 ...

Core Viewpoint - Puhua Technology's stock has shown a mixed performance with a year-to-date increase of 24.78%, but a recent decline of 2.41% over the last five trading days, indicating volatility in its market position [1]. Financial Performance - For the period from January to September 2025, Puhua Technology reported a revenue of 3.152 billion yuan, reflecting a year-on-year decrease of 7.82%. The net profit attributable to shareholders was 17.5567 million yuan, down 3.80% compared to the previous year [2]. - Cumulative cash dividends since the company's A-share listing amount to 490 million yuan, with 130 million yuan distributed over the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Puhua Technology decreased by 7.01% to 28,800, while the average circulating shares per person increased by 7.54% to 23,639 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 20.1067 million shares, an increase of 4.9016 million shares from the previous period. Changcheng Jiujia Innovation Growth Mixed A (004666) is a new entrant among the top shareholders with 7.7 million shares [3]. Market Activity - On November 20, Puhua Technology's stock price rose by 2.02% to 26.73 yuan per share, with a trading volume of 221 million yuan and a turnover rate of 1.22%. The total market capitalization reached 18.191 billion yuan [1]. - The net outflow of main funds was 18.0658 million yuan, with large orders showing a buy of 51.1494 million yuan and a sell of 62.5638 million yuan, indicating significant trading activity [1].

Core Viewpoint - Rongsheng Petrochemical's stock price has experienced fluctuations, with a recent decline of 2.07% and a year-to-date increase of 16.02% [1] Financial Performance - For the period from January to September 2025, Rongsheng Petrochemical reported a revenue of 227.81 billion yuan, a year-on-year decrease of 7.09%, while the net profit attributable to shareholders was 0.888 billion yuan, reflecting a year-on-year growth of 1.34% [2] - Cumulative cash dividends since the company's A-share listing amount to 9.4 billion yuan, with 3.391 billion yuan distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders for Rongsheng Petrochemical was 73,700, a decrease of 14.14% from the previous period, while the average circulating shares per person increased by 14.80% to 126,986 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 191 million shares, an increase of 17.06 million shares from the previous period [3] Market Activity - As of November 20, 2025, the stock price was 10.39 yuan per share, with a trading volume of 1.72 billion yuan and a turnover rate of 0.17% [1] - The net outflow of main funds was 20.43 million yuan, with significant selling pressure observed [1] Business Overview - Rongsheng Petrochemical, established on September 15, 1995, and listed on November 2, 2010, is primarily engaged in the research, production, and sales of various chemical products, oil products, and polyester products [1] - The company's revenue composition includes chemicals (40.87%), refining (35.26%), PTA (10.60%), polyester film (7.49%), and trade and others (5.79%) [1] Industry Classification - Rongsheng Petrochemical is classified under the Shenwan industry as part of the petroleum and petrochemical sector, specifically in refining and chemical trade [1] - The company is associated with several concept sectors, including oil and gas reform, solar energy, photovoltaic glass, and the Belt and Road Initiative [1]

Core Viewpoint - Hainengda's stock price has experienced a decline of 17.38% year-to-date, with recent trading showing slight recovery, while the company faces a decrease in revenue and net profit for the first nine months of 2025 [1][2]. Company Overview - Hainengda Communication Co., Ltd. is a leading provider of professional wireless communication equipment in China, established on May 11, 1993, and listed on May 27, 2011 [2]. - The company's main business includes the research, production, and sales of intercom terminals and cluster systems, contributing 44.36% of revenue from terminals, 42.37% from systems, and 13.27% from OEM and others [2]. - Hainengda operates within the communication equipment sector and is involved in various concept sectors, including the World Cup, Belt and Road Initiative, blockchain, and China-Russia trade [2]. Financial Performance - For the first nine months of 2025, Hainengda reported a revenue of 3.746 billion yuan, a year-on-year decrease of 10.26%, and a net profit attributable to shareholders of 186 million yuan, down 26.00% year-on-year [2]. - The company has distributed a total of 309 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Shareholder Information - As of September 30, 2025, Hainengda had 257,200 shareholders, a decrease of 11.45% from the previous period, with an average of 4,987 circulating shares per shareholder, an increase of 12.94% [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 13.6172 million shares, a decrease of 350,900 shares from the previous period [3].

"中共中央和红军长征的落脚点""夺取全国胜利的出发点""延安精神永放光芒"……在延安革命纪念馆，外交官们认真聆听讲解、观看展品，一个 百年大党领导全国革命走向胜利的光辉历程宛然在目。 宝塔山巍然屹立，延河水涓涓流淌；古都风华中，"钢铁驼队"日夜奔驰…… "这些展览内容让我了解到中国共产党是如何带领中国人民经历艰苦斗争，为国家而战，为人民而战，最终取得了胜利。"苏丹驻华使馆临时代办 梅木娜·哈里德说。 11月16日至19日，应外交部邀请，来自20余国和2个国际组织的驻华大使、代表和高级别外交官来到陕西延安、西安。这片土地上的历史传承与 时代面貌，让他们看到了一个奋进、开放、创新的中国。 今年9月，梅木娜在北京天安门广场参加了纪念中国人民抗日战争暨世界反法西斯战争胜利80周年大会。梅木娜深有感触地说："我们必须从历史 中获得启迪：无论国家和人民经历什么困难，都必须勇敢坚韧斗争，争取光明。" 参观杨家岭革命旧址，初次到访延安的毛里求斯驻华大使萧晓山印象深刻。"既以深远的目光回顾过去，又用坚定的目光看向未来。"他表示，当 代中国的许多政策与延安时期一脉相承，这体现了中国共产党理念的连续性和一致性。 此行期间，第二届中 ...

Core Viewpoint - China Nuclear Engineering Corporation (CNEC) experienced a decline in stock price by 2.07% on November 20, with a trading price of 11.81 CNY per share and a total market capitalization of 35.593 billion CNY [1] Group 1: Stock Performance - CNEC's stock price has increased by 32.16% year-to-date, but it has decreased by 10.53% in the last five trading days and by 4.83% in the last 20 days [1] - The company has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on October 31, where it recorded a net buy of -521 million CNY [1] Group 2: Financial Performance - For the period from January to September 2025, CNEC reported operating revenue of 73.938 billion CNY, a year-on-year decrease of 6.32%, and a net profit attributable to shareholders of 1.106 billion CNY, down 23.96% year-on-year [2] - CNEC has distributed a total of 1.787 billion CNY in dividends since its A-share listing, with 814 million CNY distributed over the last three years [3] Group 3: Shareholder Information - As of September 30, 2025, CNEC had 91,000 shareholders, an increase of 0.69% from the previous period, with an average of 33,130 circulating shares per shareholder, a decrease of 0.69% [2] - The sixth largest circulating shareholder is the Southern CSI 500 ETF, holding 17.5775 million shares, which is a decrease of 432,500 shares compared to the previous period [3]

Group 1 - The Fourth China-Africa Economic and Trade West Lake Conference and Resource Docking Meeting was held in Yuhang, attracting nearly a hundred foreign merchants, African ministers, ambassadors, and domestic and foreign experts and scholars to discuss cooperation and development [3] - The Baijiahui Group showcased its DIY solar panels tailored for the African market, highlighting the company's localized approach to break down barriers in China-Africa cooperation [3] - Baijiahui Group has established three overseas warehouses and nearly 30 operational centers across 25 countries in Africa, providing one-stop services for local buyers [3] Group 2 - Wang Licheng, Chairman of Huali Group, shared insights on practical pathways for China-Africa economic cooperation, emphasizing the establishment of overseas industrial parks to support over 400 Chinese enterprises in Africa [4] - The construction of an industrial park in Morocco is underway to facilitate more Chinese companies entering the African market [4] - Yuhang's proactive integration into the Belt and Road Initiative and the China-Africa Cooperation Forum has led to over 300 enterprises engaging in trade with Africa, with a 16.7% year-on-year increase in exports in the first three quarters of this year [4] Group 3 - The China International Chamber of Commerce Hangzhou Yuhang Chamber signed a strategic cooperation memorandum with Hangzhou China-Africa Bridge E-commerce Co., focusing on smart manufacturing and digital economy [5] - Future efforts will aim to enhance the influence of "Yuhang Manufacturing" and "Yuhang Intelligent Manufacturing" in Africa, promoting broader economic cooperation [5]