Core Viewpoint - The company Fu Sen Mei (002818.SZ) is facing significant management challenges as both its Vice General Manager and Board Secretary, Zhang Fengshu, and its Chairman, Liu Bing, are under investigation by local authorities, which may impact its operations and investor confidence [1][2][3]. Company Overview - Fu Sen Mei primarily operates in the home furnishing market, focusing on self-operated stores in Sichuan Province, with over 1.25 million square meters of self-operated store space and more than 3,500 merchants as of the end of 2024 [1]. - The company has multiple locations in Chengdu, including three home furnishing stores and a large building materials market with an area of 360,000 square meters [1]. Management Changes - Zhang Fengshu, aged 57, has been with Fu Sen Mei since 2009, serving as Vice General Manager and Board Secretary. His annual salary for 2024 was reported at 1.12 million yuan [2]. - Liu Bing, the Chairman, was also placed under investigation four months prior to Zhang, raising questions about potential connections between their cases [2]. Shareholding Structure - Liu Bing is the controlling shareholder of Fu Sen Mei, holding 43.7% of the shares, while his associates Liu Yunhua and Liu Yi hold 27.70% and 8.71%, respectively, giving them a combined control of 80.11% [3]. Financial Performance - Fu Sen Mei has experienced a decline in performance, with 2024 revenues of 1.429 billion yuan, down 6.18% year-on-year, and a net profit of 690 million yuan, down 14.39% [3]. - For the first three quarters of 2025, the company reported revenues of 924 million yuan, a decrease of 14.35%, and a net profit of 477 million yuan, down 12.60% [3]. Project Investment - The "Home Paradise" project has been a significant investment for Fu Sen Mei, with total expenditures reaching 1.756 billion yuan, including 289 million yuan in 2024, but it has reported a loss of 36.67 million yuan for the reporting period [4]. - The project has been cited as a contributing factor to the company's declining performance amid a challenging market environment [3][4]. Market Reaction - Following the announcement of the investigations, Fu Sen Mei's stock price rose by 0.71% to 11.29 yuan per share, although it has seen a decline of approximately 10% from around 12.6 yuan prior to Liu Bing's investigation [4].

Core Insights - The individual has over 25 years of experience in various sectors of the investing world, including private banking, investment management, and venture capital [1] - Currently serves as a partner at RIA Advisors in Houston, Texas, focusing on investment analysis, research, and market commentary [1] - The approach taken is often contrarian, emphasizing common sense and real-world experience in investment discussions [1] Company and Industry Analysis - RIA Advisors produces a weekly subscriber-based newsletter, RIA Pro, which addresses economic, political, and market topics relevant to investors [1] - The daily blog written by the company reaches a wide audience, including both individual and professional investors, indicating a strong engagement with the investment community [1]

Service Overview - Meitou Pro offers professional stock research for Chinese investors, providing a 7-day free trial for new users [1] - The platform includes Pro Stocks for tracking popular stocks, Pro Market for macro reports, Pro ETF for passive income opportunities, Pro News for daily summaries, Pro Academy for systematic learning, Pro Q&A for investment insights, and Pro Trading for real-time trade sharing [1] - Meitou Pro features over 500 in-depth analysis videos and over 10,000 text analyses [1] Content Focus - The platform offers content on various investment topics, including postmodern cycles, electric vehicle investment, strategies to "beat Wall Street," and the "endgame" of US Treasury bonds [1] - Risk quantification is addressed, along with popular works series, ETF investing from beginner to expert, and the ceiling of AI investment [1] - Content also covers topics like avoiding bank savings, identifying ETFs that survive bull and bear markets, and avoiding common bull market traps [1] - Investment planning, reasons for financial struggles, emotional vs rational investing, inflation strategies, and asset allocation are also covered [1] Options Trading Education - Meitou provides options trading education, including a series of tutorials covering the basics, practical demonstrations, and strategies for using traditional stocks for options [1] - The platform also offers insights on how to trade options during earnings season and how to interpret financial reports [1] Investment Strategies - The platform provides insights into value investing, risk management, wealth accumulation, dividend stock investing, and the utility of technical analysis [1] Investment Psychology - Content addresses investment psychology, including becoming an unemotional investor and using psychology to succeed in investing [1] - The platform also explores the psychology of losing money in the stock market [1] Industry Analysis - Meitou offers industry-specific analyses covering sectors like payment processing, cloud computing, healthcare, streaming, Chinese stocks, cannabis, the metaverse, and AI [1] YouTube Channels - Meitou has additional YouTube channels: "Meitou Kan News" and "Meitou Jiang Options" [1] Contact Information - Business cooperation inquiries can be sent to meitouinvesting@gmailcom [1] - The WeChat public account is Meitou_Investing, and the WeChat ID is meitoujiangmeigu [1]

对于家里经济条件一般的家庭长大的人来说，比如我，很多令人习以为常的 “常识” 是从二十多岁开始才知道的比如，牙齿不齐是需要去整牙的，脊柱侧弯是需要去矫正的，轻度的近视在青少年阶段用角膜塑形镜是可以很大程度延缓近视度数加深的身体健康的养护和矫正，都是只有在 18 岁以下的黄金时期效率最高。再比如多语言环境，人年纪越小学语言越容易,并且多语言环境能促进大脑发育哪怕现在已经在做这些矫正项目让自己更健康，开始学一些小语种，可能也是有点追求完美主义，偶尔深夜想到这些还是会有遗憾，碍于客观的条件没能在最正确的时候做最正确的事，到了一把年纪了才知道补救贫穷局限了视野和认知，但感谢过去的贫穷让人更知道机会可贵，错过好的 timing 是多么可惜的事。和投资一样，在正确的时间做正确的事，举例就是在 early stage 开始玩 sol meme，随便买什么，大多都去了 100M，而到了下行期才开始玩 sol meme 扫链，10M 都难 ...

Report Industry Investment Rating No information is provided regarding the report's industry investment rating in the given content. Core View of the Report In the third week of November, the scope of construction shutdown in the north accelerated its expansion, showing the characteristics of weak supply and demand for investment products. Both new and second - hand housing transactions followed seasonal trends, with the former showing a slight stabilization. In terms of inflation, food prices changed from rising to falling, and the drag from pork and vegetable prices increased. In the export sector, container shipping prices continued to diverge, with SCFI weakening and CCFI remaining strong. Port transportation volume weakened compared to the previous week, indicating the impact of the off - season. In the investment field, the decline in cement prices continued to widen. The apparent demand for rebar improved and inventory clearance accelerated, mainly due to supply contraction. In the real estate sector, new housing sales recovered seasonally, while second - hand housing sales continued to weaken, and both showed year - on - year negative growth. For the bond market, the impact of fundamental factors on the bond market further weakened under the influence of the off - season. Policy expectations for the current year were not strong, and the market focused on the possibility of "front - loaded efforts" in the next year. [3][33] Summary by Directory Weekly High - Frequency Tracking: Export Cargo Volume Maintains Resilience Inflation - Related: Food Prices Decline Food prices decreased slightly. From November 15th to 22nd, the average wholesale price of pork in China decreased by 0.74% week - on - week, and vegetable prices decreased by 1.32% week - on - week, both weaker than the previous week. The 200 - index of agricultural product wholesale prices and the wholesale price index of basket products decreased by 0.09% and 0.08% week - on - week respectively, changing from rising to falling. [8] Import and Export - Related: Container Shipping Prices Diverge, SCFI Continues to Weaken The decline of SCFI widened, while CCFI continued to rise. This week, the CCFI index increased by 2.6% week - on - week, and SCFI decreased by 4.0% week - on - week. The container transportation market was basically stable, and the freight rates in the ocean - going routes showed an adjustment trend. In the North American routes, the growth of transportation demand was weak, and freight rates continued to decline. From November 10th to 16th, the container throughput and cargo throughput of ports decreased by 5.4% and 1.1% week - on - week respectively. This week, they increased by 3.1% and 0.4% year - on - year respectively, continuing to weaken compared to the previous week under the influence of the off - season. The increases of BDI and CDFI indexes further expanded. [11] Industry - Related: Most Production Operating Rates Continue to Decline - Coal price increase significantly narrowed. This week, the price of thermal coal (Q5500) at Qinhuangdao Port increased by 0.26% week - on - week, with a significant narrowing of the increase. - Rebar price increase widened. The spot price of rebar (HRB400 20mm) increased by 1.2% week - on - week. - Asphalt operating rate accelerated its decline. This week, the operating rate of asphalt plants decreased by 4.2 percentage points to 24.8% week - on - week, a 7.0% year - on - year decrease. - Copper price changed from rising to falling. This week, the average prices of Yangtze River Non - Ferrous Copper and LME Copper both decreased by about 0.9% week - on - week. - The decline of glass futures prices widened. This week, the market trading sentiment was cold, and most manufacturers continued to sell at reduced prices. [13][15][20] Investment - Related: New Housing Sales Slightly Stabilize, Second - Hand Housing Sales Weaken - Cement price decline slightly widened. This week, the weekly average of the national cement price index decreased by 0.62% week - on - week. - New housing sales seasonally stabilized. From November 14th to 20th, the transaction area of new houses in 30 cities was 1.936 million square meters, a 22.5% week - on - week increase and a 23% year - on - year decrease. - Second - hand housing sales slightly declined. From last Friday to this Thursday, second - hand housing sales decreased by 3.8% week - on - week and 7.6% year - on - year. [25][27] Consumption: Passenger Car Retail Sales in Mid - and Early November Continue to Decline - Passenger car retail sales in mid - and early November showed a year - on - year negative growth. From November 1st to 16th, the national retail sales of the passenger car market were 886,000 vehicles, a 14% decrease compared to the same period last November and a 6% decrease compared to the same period last month. - Crude oil price changed from rising to falling. As of November 21st, Brent crude oil and WTI crude oil prices decreased by 2.8% and 3.4% week - on - week respectively, weaker than the previous week. [28][32]

Report Information - Report Date: November 22, 2025 [1] - Report Title: High - frequency Economic Weekly Report (2025.11.16 - 2025.11.22) [2] - Analysts: Huang Weiping, Yi Qiang, Wang Zheyi [3] Report Industry Investment Rating - No relevant content provided. Report's Core View - The economic situation shows mixed trends. Industrial production is weak, while personnel flow continues to rise, and freight prices increase slightly. Consumption and some segments of the real - estate market show different trends, and export - related indicators also have their own characteristics. [3] Summary by Catalog 1. Big - class Assets - This week, bond indices generally rose, with the ChinaBond 7 - 10 - year China Development Bank bond index rising the most by 0.7%. Stock indices and commodities generally fell, with the ChiNext Index falling the most by 6.15%, and the Nanhua Precious Metals Index dropping by 4.07%. Most foreign currencies depreciated against the RMB, with the Japanese yen having the largest decline of 1.19%, while the US dollar appreciated by 0.14% against the RMB. [3] 2. Industrial Production - Production performance is weak. From the upstream, the weekly coal consumption in the national power plant sample area decreased by 1.27%, the petroleum asphalt plant operating rate dropped by 4.20 pcts to 24.80%, and the blast furnace operating rate decreased by 0.62 pcts to 82.17%, while the crude steel output increased by 6.00%. In the real - estate chain, the rebar operating rate rose by 1.31 pcts to 43.29%, the float glass operating rate decreased by 0.34 pcts to 74.96%, and the mill operating rate dropped by 0.39 pcts to 33.29%. In the consumer goods chain, the polyester filament operating rate increased by 0.10 pcts to 91.33%, the PTA operating rate decreased by 1.89 pcts to 74.29%, and the methanol operating rate dropped by 0.17 pcts to 83.77%. In the automotive chain, the automotive semi - steel tire operating rate decreased by 2.61 pcts to 71.07%, and the automotive full - steel tire operating rate decreased by 3.19 pcts to 61.31%. [3] 3. People and Goods Flow - Personnel flow continued to rise, and freight prices increased slightly. The 7 - day moving average (7DMA) of the national migration scale index increased by 6.45% week - on - week. The 7DMA of domestic flight operations increased by 1.51%, and the 7DMA of international flight operations increased by 0.84%. Beijing's subway passenger volume decreased, while those of Shanghai, Shenzhen, and Guangzhou increased. The 4 - week moving average (4WMA) of the road logistics freight rate index increased by 0.02% week - on - week, and the total volume was higher than the same period last year. [3] 4. Consumption - Automobile sales growth declined year - on - year, and price performance decreased. The previous period's automobile wholesale decreased by 5.00% year - on - year, and retail sales decreased by 9.00% year - on - year. Both the 4WMA of wholesale and retail year - on - year growth rates declined. The weekly movie box office decreased by 22%, and the 7DMA of the number of moviegoers decreased by 22%. Agricultural product prices decreased, with pork prices dropping by 0.83% week - on - week and vegetable prices falling by 6.08% week - on - week. [3] 5. Investment - Construction performance was good, and the commercial housing market had a seasonal uptick. The weekly cement inventory ratio increased by 0.1 pcts, the cement price index increased by 0.43%, and the cement shipping rate remained the same as last week. The rebar inventory decreased by 3.8% week - on - week, the proportion of profitable steel mills nationwide decreased by 1.3 pcts, and the rebar apparent demand increased by 6.7% week - on - week. Overall, the terminal demand for construction was good. The 7DMA of the commercial housing transaction area in 30 large and medium - sized cities increased by 24.2% week - on - week. By city - tier, the transaction area in first - tier cities decreased, while those in second - and third - tier cities increased. The 7DMA of the second - hand housing transaction area in 16 cities decreased by 0.1%, and the national second - hand housing listing price index decreased by 0.2% week - on - week. The land transaction area in 100 cities increased, and the land premium rate decreased week - on - week. [3] 6. Export - Port throughput decreased, and most shipping indices increased. The weekly port cargo throughput decreased by 1.1%, and the container throughput decreased by 5.4%. The BDI index increased by 7.06% week - on - week, the domestic SCFI index decreased by 3.98%, and the CCFI index increased by 2.63%. [3]

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The report analyzes the economic situation from multiple aspects, indicating that industrial production is weak, personnel flow is increasing, consumption shows a downward trend, investment has seasonal recoveries, and exports have a decline in port throughput but an increase in most shipping indices. Meanwhile, bond indices generally rise, while stock indices and commodities generally fall, and most foreign currencies decline [3]. 3. Summary According to the Directory 3.1. Large - scale Assets - This week, bond indices generally rose, stock indices and commodities generally fell, and most foreign currencies declined. Among them, the ChinaBond 7 - 10 - year China Development Bank Bond Index rose the most, with a gain of 0.07%. The ChiNext Index fell the most, with a weekly decline of 6.15%. The Nanhua Precious Metals Index fell the most among commodities, with a decline of 4.07%. The Japanese yen had the largest decline against the RMB, with a weekly decline of 1.19%, while the US dollar appreciated against the RMB, with a weekly gain of 0.14% [3][8]. 3.2. Industrial Production - Production performance was weak. Upstream, the weekly coal consumption in the national power plant sample area decreased by 1.27% week - on - week, the operating rate of petroleum asphalt plants decreased by 4.20 pcts to 24.80%, the blast furnace operating rate decreased by 0.62 pcts to 82.17%, and the crude steel output increased by 6.00% week - on - week. In the real estate chain, the rebar operating rate increased by 1.31 pcts to 43.29%, the float glass operating rate decreased by 0.34 pcts to 74.96%, and the mill operating rate decreased by 0.39 pcts to 33.29%. In the general consumer goods chain, the operating rate of polyester filament increased by 0.10 pcts to 91.33%, the PTA operating rate decreased by 1.89 pcts to 74.29%, and the methanol operating rate decreased by 0.17 pcts to 83.77%. In the automotive chain, the operating rate of automobile semi - steel tires decreased by 2.61 pcts to 71.07%, and the operating rate of automobile all - steel tires decreased by 3.19 pcts to 61.31% [3][11]. 3.3. People and Goods Flow - Personnel flow continued to increase, and freight prices increased slightly. In terms of personnel flow, the 7 - day moving average (7DMA) of the national migration scale index increased by 6.45% week - on - week. The 7DMA of domestic flight operation numbers increased by 1.51% week - on - week, and the 7DMA of international flight operation numbers increased by 0.84% week - on - week. The subway passenger volume in Beijing decreased, while that in Shanghai, Shenzhen, and Guangzhou increased. In terms of freight volume, the 4 - week moving average (4WMA) of the road logistics freight rate index increased by 0.02% week - on - week, and the total volume was higher than the same period last year [3]. 3.4. Consumption - Automobile sales growth declined year - on - year, and price performance declined. The previous period's automobile wholesale decreased by 5.00% year - on - year, and retail decreased by 9.00% year - on - year. Both the 4WMA of wholesale year - on - year growth and the 4WMA of retail year - on - year growth declined. This period's movie box office decreased by 22% week - on - week, and the 7DMA of the number of moviegoers decreased by 22% week - on - week. Agricultural product prices declined, with pork prices decreasing by 0.83% week - on - week and vegetable prices decreasing by 6.08% week - on - week [3]. 3.5. Investment - Construction performance was good, and the commercial housing market had a seasonal upswing. This period's cement inventory - to - capacity ratio increased by 0.1 pcts week - on - week, the cement price index increased by 0.43% week - on - week, and the cement shipment rate was flat compared to last week. Rebar inventory decreased by 3.8% week - on - week, the proportion of profitable steel mills nationwide decreased by 1.3 pcts week - on - week, and the apparent demand for rebar increased by 6.7% week - on - week. Overall, the terminal demand for construction was good. The 7DMA of the commercial housing transaction area in 30 large and medium - sized cities increased by 24.2% week - on - week. By city tier, the commercial housing transaction area in first - tier cities decreased, while that in second - tier and third - tier cities increased. The 7DMA of the second - hand housing transaction area in 16 cities decreased by 0.1% week - on - week, and the national second - hand housing listing price index decreased by 0.2% week - on - week. The land transaction area in 100 large and medium - sized cities increased, and the land transaction premium rate decreased week - on - week [3]. 3.6. Export - Port throughput decreased, and most shipping indices increased. This period's port cargo throughput decreased by 1.1% week - on - week, and container throughput decreased by 5.4% week - on - week. The BDI index increased by 7.06% week - on - week, and the domestic SCFI index decreased by 3.98% week - on - week, while the CCFI index increased by 2.63% week - on - week [3].

市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 英伟达承诺，将对Anthropic投资至多100亿美元。微软承诺出资至多50亿美元。 风险提示及免责条款 ...

Core Insights - The individual has over 25 years of experience in various sectors of the investing world, including private banking, investment management, and venture capital [1] - Currently serves as a partner at RIA Advisors in Houston, Texas, focusing on investment analysis, research, and market commentary [1] - The approach taken is often contrarian, emphasizing common sense and real-world experience in investment discussions [1] Company and Industry Summary - RIA Advisors is a firm that provides insights on economic, political, and market topics relevant to investors [1] - The company publishes a weekly subscriber-based newsletter, RIA Pro, aimed at both individual and professional investors across the nation [1] - A daily blog is maintained, attracting a wide readership that includes both individual and professional investors [1]

听说你在投资加密货币年初拿 1 万刀至今梭 ETH 还剩下 $9,400梭 SOL 还剩下 $7,300梭中证全指帐户余额 $12,350 https://t.co/gKGtEQcrL2 ...