十月二十九日，直达韩国仁川港的"泛奥升奥普轮"（右）在青岛港前湾港区装卸集装箱（无人机照 片）。新华社记者 李紫恒摄 10月30日至11月1日，国家主席习近平应邀赴韩国庆州出席亚太经合组织（APEC）第三十二次领导人 非正式会议并对韩国进行国事访问。 连日来，旅居韩国的华侨华人持续热议APEC会议上的中国声音。在接受本报记者采访时，多位侨胞分 享了亲身参与双多边合作的经历，对即将到来的APEC"中国年"满怀期待，表示将继续发挥侨力，为中 韩合作架桥、为亚太发展添彩。 关注APEC会议释放积极信号 除传统贸易与投资外，中韩在人工智能、新能源、文化旅游、生物科技等领域的合作活力日益凸显 最近，韩国浙江商会会长、全博集团董事长张益波完成了一项重要签约——与韩中总商会签署全面合作 协议。其中，储能储电等新能源技术是双方合作的一个重点。 本次APEC会议上，中方提出强化数智赋能、坚持绿色低碳、落实普惠共享等主张，给张益波留下了深 刻印象，也坚定了他继续推进绿色及高新技术产业合作的信心。目前，他正全力筹备浙江专精特新"小 巨人"企业代表团赴韩考察事宜。"考察团将走访韩国多家科技企业及高校，对接新能源、智能制造等领 域的先 ...

Core Points - The meeting between Chinese Premier Li Qiang and Georgian Prime Minister Irakli Garibashvili emphasizes the strong mutual respect and understanding between China and Georgia, highlighting the strategic partnership established in 2023 [2][3] - Both countries aim to enhance cooperation in various fields, including trade, investment, and emerging industries such as digital economy, new energy, and artificial intelligence, while also focusing on the Belt and Road Initiative [3][4] - The two leaders signed multiple bilateral cooperation agreements covering trade, artificial intelligence, agriculture, environmental protection, inspection and quarantine, culture, and aviation [4] Economic Cooperation - China and Georgia have strong economic complementarity, with China expressing willingness to strengthen development strategy alignment and enhance the role of the intergovernmental economic and trade cooperation committee [3] - The two countries are looking to conclude the upgrade negotiations of the bilateral free trade agreement, aiming to deepen cooperation in trade, investment, and connectivity [3] - Georgia is committed to providing a favorable business environment for Chinese enterprises and is keen to expand cooperation in tourism, education, technology, and culture [3][4] Multilateral Coordination - Both countries, as global South nations, are encouraged to strengthen multilateral communication and coordination, supporting the four global initiatives proposed by President Xi Jinping [3][4] - Georgia acknowledges China's role as a responsible major power in maintaining world peace and justice, expressing a desire to collaborate on promoting global stability and development [4]

Group 1: Key Technologies and Innovations - Tesla's Cybercab, an autonomous electric vehicle, made its Asia-Pacific debut at the expo, featuring a streamlined design that allows for a range of approximately 10 kilometers per kilowatt-hour [2] - Tesla plans to start mass production of the Cybercab in Q2 2026, equipped with wireless charging and robotic cleaning capabilities [2] - The Q-Truck, an all-time autonomous electric heavy truck from Xijing Technology, has successfully operated in multiple countries and is now being utilized in logistics at factories [3] - BD Medical showcased an AI hand diagnosis health detection device aimed at enhancing individual health awareness, along with several new medical products [4] - Boston Scientific presented the Orbera365, an innovative endoscopic gastric balloon system for weight loss, which can remain in place for up to one year [5] Group 2: Global Products and Market Opportunities - The expo features a variety of international products, including specialty items from New Zealand, Argentina, and Africa, highlighting the growing presence of quality foreign goods in China [6] - Mato Grosso, Brazil's largest agricultural state, emphasized its commitment to the Chinese market by showcasing its agricultural products at the expo [6] - Zeiss, a global leader in optics, has significantly invested in China, establishing a comprehensive local supply chain and viewing the expo as a vital platform for innovation and market entry [8] - Lok, a well-known chocolate brand in Latin America, has successfully entered the Chinese market through the expo, establishing a strong retail presence [9]

以下文章来源于科创板日报 ，作者小K 科创板日报 . 据介绍， Cybercab没有方向盘、脚踏板，采用Tesla Vision视觉处理系统+端到端神经网络的自动驾驶方案。 Cybercab计划在2026年第 二季度启动量产，目前已有媒体在加州特斯拉工程总部附近捕捉到该车型的测试身影。 图：Tesla Cybercab；来源：《科创板日报》记者摄 专注科创板和科技创新，上海报业集团主管主办，界面财联社出品。 第八届中国国际进口博览会（下称：第八届进博会）将于明日（11月5日）在国家会展中心（上海）正式拉开帷幕。 《科创板日报》记者了解到，第八届进博会由商务部和上海市人民政府主办、中国国际进口博览局和国家会展中心（上海）有限责任公司承 办，将有155个国家、地区和国际组织参与，泰国、阿联酋、尼日利亚、格鲁吉亚、瑞典、哥伦比亚等6国将担任本届进博会主宾国；4108 家境外企业参展，在去年3496家的基础上新增600余家，包括290家世界500强和行业龙头企业，整体展览面积超过43万平方米，企业展面 积超36.7万平方米，规模再创新高；组建了43个交易团、700多个交易分团到会洽谈采购，专业观众注册达44.95万人 ...

Core Viewpoint - The commercial vehicle sector is experiencing a significant performance surge in Q3 2025, with major companies reporting substantial revenue and profit increases after a challenging first half of the year [1][2]. Group 1: Commercial Vehicle Performance - Ten listed commercial vehicle companies reported total revenue exceeding 124.4 billion yuan and net profit over 5.8 billion yuan in Q3 2025 [1]. - Weichai Power led the industry with revenue of 57.42 billion yuan and a net profit of 3.23 billion yuan [1]. - Eighty percent of commercial vehicle companies saw significant increases in both revenue and net profit in Q3 compared to the previous half [1]. Group 2: Heavy Truck Sales Growth - Heavy truck sales in Q3 showed remarkable growth, with monthly sales of 84,900 units in July, 88,000 units in August, and 105,000 units in September, representing year-on-year increases of 45.6%, 41%, and 82% respectively [1][2]. - Major heavy truck manufacturers, including FAW Jiefang and Foton Motor, reported revenues exceeding 15 billion yuan and net profits over 300 million yuan in Q3 [2]. Group 3: Policy and Market Drivers - Government policies supporting the commercial vehicle sector, including subsidies for scrapping old vehicles and promoting natural gas and "National IV" vehicles, have stimulated market growth [3][4]. - The penetration rate of new energy vehicles in the commercial vehicle sector is rapidly increasing, contributing to market expansion, with 24,000 new energy heavy trucks sold in September alone, marking a 184% year-on-year increase for the first nine months [3]. Group 4: Bus Sector Performance - Bus companies also reported significant revenue increases, with Yutong Bus achieving 10.24 billion yuan in revenue and a net profit of 1.357 billion yuan in Q3, reflecting a 32.3% and 78.9% year-on-year increase respectively [5][6]. - King Long Motor reported a revenue of 6.002 billion yuan and a net profit increase of 1211% in Q3, driven by increased sales and enhanced export business [7].

Core Viewpoint - The commercial vehicle sector is experiencing a significant performance surge in Q3 2025, with major companies reporting substantial revenue and profit increases after a market adjustment in the first half of the year [1][5]. Group 1: Commercial Vehicle Performance - Ten listed commercial vehicle companies reported total revenue exceeding 124.4 billion yuan and net profit over 5.8 billion yuan in Q3 2025 [1]. - Weichai Power led the industry with revenue of 57.42 billion yuan and a net profit of 3.23 billion yuan [1]. - Eighty percent of commercial vehicle companies saw significant increases in both revenue and net profit in Q3 compared to the previous half [1]. Group 2: Heavy Truck Sales Growth - Heavy truck sales in Q3 showed a marked increase, with monthly sales of 84,900 units, 88,000 units, and 105,000 units in July, August, and September respectively, representing year-on-year growth of 45.6%, 41%, and 82% [1][2]. - Major heavy truck manufacturers, including FAW Jiefang and Foton Motor, reported revenues exceeding 15 billion yuan and net profits over 300 million yuan in Q3 [2]. Group 3: Company-Specific Financials - FAW Jiefang reported revenue of 15.917 billion yuan, a year-on-year increase of 77.9%, with a net profit of 352 million yuan, up 525.1% [3]. - China National Heavy Duty Truck Corporation achieved revenue of 14.329 billion yuan, a 55.9% increase, with a net profit of 382 million yuan, up 20.9% [3]. - Foton Motor's revenue reached 15.078 billion yuan, a 27.8% increase, with a net profit of 336 million yuan, soaring 1764.2% [3]. Group 4: Policy and Market Drivers - Government policies supporting the commercial vehicle sector, including subsidies for scrapping old vehicles, have stimulated market growth [5]. - The penetration of new energy vehicles in the commercial vehicle sector is rapidly increasing, contributing to market expansion [5]. - In September, sales of new energy heavy trucks reached 24,000 units, marking a year-on-year increase of 184% [5]. Group 5: Bus Sector Performance - Bus companies also reported significant revenue increases, with Yutong Bus achieving revenue of 10.24 billion yuan, a 32.3% year-on-year growth, and a net profit of 1.357 billion yuan, up 78.9% [9]. - King Long Motor reported revenue of 6.002 billion yuan, a 29.4% increase, with a net profit of 130 million yuan, up 1211% [9]. Group 6: Future Outlook - Analysts predict continued positive trends in the heavy truck industry, with expectations of domestic sales reaching 700,000 units or more, representing a year-on-year growth of over 16% [5]. - The global market for commercial vehicles presents significant growth opportunities, particularly in the new energy segment, as many countries implement policies to promote the replacement of traditional buses [10].

Group 1 - The core viewpoint of the article highlights that Yidun Electronics has seen significant growth in the shipment scale of its PCB products related to photovoltaic and new energy vehicles due to industry development and continuous improvement in product technology capabilities [2] Group 2 - Yidun Electronics' PCB products are widely used in automotive electronics, new energy, and power supply sectors [2] - The company attributes its growth in the photovoltaic and new energy vehicle PCB product shipments to the overall development of the industry [2] - Continuous enhancement of the company's technological capabilities has positively impacted its product offerings [2]

Core Insights - The article discusses the contrasting investment styles of dividend stocks and growth stocks, highlighting how both have reached similar return levels despite their different approaches over the years [1][4]. Group 1: Dividend Stocks - Dividend stocks are often perceived as slow and lacking excitement, associated with traditional industries like coal, electricity, and transportation, which are seen as having peaked growth [4][5]. - The characteristics of dividend indices include a systematic value screening mechanism that emphasizes sustainable dividend payments and valuation safety margins, which is rare in the A-share market [5][11]. - The compounding effect of reinvested dividends creates a significant long-term return, with time favoring investors who adopt this strategy [5][11]. - Dividend assets tend to exhibit stability, avoiding extreme volatility and maintaining a steady growth trajectory, akin to a long, calm stream [5][11]. Group 2: Growth Stocks - Growth investing is characterized by high volatility and frequent narrative shifts, often leading to anxiety among investors as they chase trends in technology and innovation [8][9]. - The high expectations associated with growth stocks come with significant risks, as the competitive landscape can change rapidly, leading to potential losses during market corrections [9][10]. - The article emphasizes that while many investors can achieve quick returns, sustaining long-term growth is much rarer, highlighting the psychological challenges faced during market fluctuations [10][11]. Group 3: Investment Philosophy - The essence of dividend investing lies in its disciplined approach, focusing on steady returns rather than speculative gains, making it suitable for ordinary investors [11][12]. - The article contrasts the pursuit of quick profits with the wisdom of slow, steady investment, suggesting that the latter may be more beneficial for long-term wealth preservation [12]. - Ultimately, the choice between being a "shooting star" or a "steady star" in investing reflects one's ability to handle market volatility and the pursuit of sustainable returns [12].

Core Viewpoint - The company, Yinlong Co., is focusing on its core businesses in prestressed materials and concrete products for rail transit, while also exploring opportunities in the new energy sector and emerging technologies [2] Group 1: Business Focus - The company continues to concentrate on the prestressed materials industry and concrete products for rail transit [2] - The integration of new energy industry capabilities is a key aspect of the company's strategy [2] Group 2: Innovation and Growth - The company is committed to innovation-driven development, aiming to solidify its main business while cautiously exploring technological opportunities related to its industry chain [2] - The goal is to cultivate new growth points for future development through these explorations [2]

Core Viewpoint - The "national team" has significantly increased its holdings in A-shares, focusing primarily on financial stocks, with a total market value approaching 4 trillion yuan as of the end of the third quarter [1][2]. Group 1: National Team Holdings - As of the end of Q3, the "national team" held over 222 A-share stocks, with a total market value of approximately 3.911 trillion yuan, reflecting an increase from the previous quarter [4]. - The top three stocks held by the "national team" in terms of market value are China Bank (1.03 trillion yuan), Agricultural Bank (967.73 billion yuan), and Industrial and Commercial Bank (930.27 billion yuan) [2]. - Financial stocks dominate the "national team's" portfolio, with 9 out of the top 10 holdings being from the financial sector, accounting for over 83.9% of the total market value of the top holdings [2][4]. Group 2: Sector Diversification - In addition to financial stocks, the "national team" has also invested in sectors such as AI, semiconductors, and new energy, aligning with national strategies for technological advancement [3]. - Notable technology stocks included in the "national team's" portfolio are Ultrasonic Electronics, Puxin Co., and Maike Audi, indicating a strategic shift towards innovation-driven sectors [3]. Group 3: ETF Investments - The "national team" has utilized ETFs as a significant investment tool, with holdings in A-share ETFs exceeding 40% of the total A-share ETF market size by the end of Q3 [6]. - Central Huijin Investment has emerged as a major player in the ETF market, holding significant stakes in multiple ETFs, contributing to market stabilization efforts [5][6]. - The performance of ETFs has been strong, with substantial floating profits reported, particularly in broad-based ETFs like the Huatai-PineBridge CSI 300 ETF, which saw floating profits exceeding 550 billion yuan [7].