更值得关注的是，智能化新技术正成为汽车产业新的增长引擎。车展上，华为与广汽联合宣布，明年上半年将亮相首款智能高端新能源汽 车。一个深耕汽车智能化，一个是多年扎实的汽车制造基础，自主品牌的这种强强联合颇受业内关注。 中国贸促会汽车行业分会副会长赵扬称："当前，人工智能大模型加速批量上车，AI技术向智能驾驶、智能座舱、生产制造、供应链管理 等全产业链渗透，生动展现出中国汽车在电动化与智能化双轮驱动下的创新活力。" 央视网消息：2025年是国家"十四五"规划的收官之年。记者注意到，这段时间，国内多家车企正在从技术、产品、产业链等多方面全面跃 升，为2026年"十五五"开局之年做好充足准备。 21日，第23届广州国际汽车展览会开幕，近百辆首发新车、上千辆展车共同亮相，产业链前沿科技密集展出。 被誉为"中国汽车市场发展风向标"的2025广州国际车展正在举办，展车数量超过1000辆，其中新能源车629台，占比超过60%。明年1月1 日起，我国将执行新的新能源车购税政策，按减半征收的政策执行，同时，提高补贴车型的技术门槛。新政即将实施，多家车企纷纷发力高性 价比的车型。这家车企的相关负责人表示，他们刚刚上市的新车型不仅仅注 ...

Core Insights - The 2025 Guangzhou International Auto Show is showcasing over 1,000 vehicles, with more than 60% being new energy vehicles, indicating a significant shift towards electrification in the automotive industry [1] - A new tax policy for new energy vehicles will take effect on January 1, reducing purchase tax by half and raising technical thresholds for subsidy-eligible models, prompting automakers to focus on high-value models [1] - The automotive industry is experiencing a transformation driven by technological advancements and user experience improvements, moving away from reliance on subsidies [3] Industry Trends - Smart technology is emerging as a new growth engine for the automotive sector, with a notable collaboration between Huawei and GAC to launch a high-end smart electric vehicle in the first half of next year [5] - The penetration rate of new energy vehicles in China is expected to exceed 50% by 2025, marking a shift from "catching up" to "leading" in the global automotive landscape [7] - Chinese automakers are increasingly focusing on international markets, with exports accounting for approximately 55% of Jiangqi Group's business during the current five-year plan [7] Global Expansion - The Chinese automotive industry is transitioning from merely exporting products to exporting entire supply chains, reflecting a new phase of globalization [9] - The concept of "one model, multiple versions" for global markets is gaining traction among automakers, indicating a strategic approach to internationalization [9] - High-end smart vehicles and new energy models are becoming the main export drivers, with growing recognition in markets such as Europe, Southeast Asia, and Latin America [13]

董秘回答(华大九天SZ301269)： 尊敬的投资者您好，公司的研发费用均在发生当期进行费用化处理，未进行资本化。公司目前仍处于快 速发展期，与战略客户的合作项目不断增加，需要相应增加研发人员数量，因此研发投入不断增加。 EDA软件具有技术难度高、研发周期长等特点，同时技术成果转化需要完整工具链协同和生态适配， 研发投入转化为营业收入需要一定周期。感谢您的关注！查看更多董秘问答>> 投资者提问： 公司前三季研发费用高达5.57亿元，占营收比达69.2 ％。请问，公司研发投入都是费用化吗？各类人工 智能大模型的应用和推广，很多专业软件公司都能通过减员、降本、提高研发效率等手段达到增效效 果。公司研发投入一直高企，虽是必需，但是这种投入并没有带来高营收增长，商业转化效率不高，有 没有措施能解决这个矛盾？谢谢 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 ...

Market Overview and Sector Characteristics - The Shanghai Composite Index fell by 2.45%, breaking the 60-day moving average for the first time in six months, while the Shenzhen Component Index dropped by 3.41% [1] - A total of 24 stocks hit the daily limit up, a decrease of 17 from the previous day, while 62 stocks hit the limit down, an increase of 55 [2] - The median decline in A-shares was 3.88%, indicating a broad market downturn [1] Sector Performance - The sectors with the most limit-up stocks included Internet Services, Cultural Media, and Decoration & Renovation, with three stocks each [3] - The Internet Services sector saw positive momentum due to favorable policies and recovering market demand, leading to strong performance from leading companies [3] - The Cultural Media sector benefited from policy support and consumer recovery, boosting industry confidence [3] - The Decoration & Renovation sector was driven by policy support and a rebound in the real estate market, leading to increased demand for renovations [3] Conceptual Trends - The most represented concepts among limit-up stocks were Artificial Intelligence Large Models, Fujian Free Trade Zone/Haixi Concept, and Real Estate, each with three stocks [4] - The Artificial Intelligence Large Models concept gained traction due to technological breakthroughs and policy support, attracting capital for high-growth potential [4] - The Fujian Free Trade Zone/Haixi Concept was bolstered by favorable policies and increased infrastructure investment expectations [4] - The Real Estate sector saw a boost from policy support and relaxed credit conditions, enhancing market confidence [4] Limit-Up Stock List - No stocks reached historical highs today, but six stocks achieved near one-year highs, including 久其软件 (Jiuqi Software) and 梦天家居 (Mengtian Home) [5] - The stocks that hit limit-up included those with significant net inflows from major funds, indicating strong interest from institutional investors [6] Major Fund Inflows - The top five stocks by net inflow included 实达集团 (Shida Group) with 371 million yuan, 贵广网络 (Guiguang Network) with 126 million yuan, and 榕基软件 (Rongji Software) with 103 million yuan [6] - High net inflows suggest these stocks are being closely monitored by major funds, indicating potential investment opportunities [6] Limit-Up Stock Characteristics - The stocks with the highest sealing funds included 视觉中国 (Vision China) with 701 million yuan and 华瓷股份 (Huaci Co.) with 515 million yuan, indicating strong market interest [8] - The number of stocks with consecutive limit-ups included 17 first-time limit-up stocks, 3 with two consecutive limit-ups, and 4 with three or more [9]

Market Overview - The market opened lower and continued to decline throughout the day, with all three major indices falling collectively. The total trading volume reached 1.98 trillion [1] - AI application sectors showed strength, with companies like Vision China and Ji Qi Software hitting the daily limit up. The military industry also saw some active stocks, such as Longxi Co., which hit the limit up [1] - Conversely, lithium mining stocks experienced significant declines, with Tianqi Lithium and Ganfeng Lithium among over ten stocks hitting the limit down. The storage chip sector also faced substantial adjustments [1] Hot Topics Aquaculture - The aquaculture sector remained active, with Zhongshui Fishery achieving six consecutive limit ups, and the Zangzi Island concept rebounding [4] Artificial Intelligence Large Models - AI applications performed well, with Rongji Software achieving five consecutive limit ups. Vision China, Ji Qi Software, and Yidian Tianxia also hit the limit up [6] - Google announced an upgrade to its popular image generation and editing model, Gemini, introducing the Nano Banana Pro model, which claims to provide "studio-level" precision and control [6] - Tencent's Yuanbao is set to launch a new feature allowing users to generate videos from a single sentence or image, based on the latest HunyuanVideo 1.5 model [6] - Analysts predict three trends for the next phase of AI video applications: deeper integration with social interaction, evolution of ChatGPT into an ecosystem, and a one-stop solution for video creation needs [8] Stock Performance Aquaculture Stocks - Zhongshui Fishery: Latest price 15.09, up 9.99%, market cap 5.52 billion [5] - Zangzi Island: Latest price 4.75, up 9.95%, market cap 3.37 billion [5] AI Stocks - Rongji Software: Latest price 12.45, up 9.98%, market cap 6.61 billion [7] - Vision China: Latest price 25.34, up 9.98%, market cap 17.13 billion [7] - Ji Qi Software: Latest price 8.94, up 9.96%, market cap 7.06 billion [7] - Yidian Tianxia: Latest price 39.97, up 19.99%, market cap 15.27 billion [7]

11月20日，受到隔夜美股等周边市场大涨提振下，今早三大指数一度集体大幅高开，但随后再度陷入震荡回落的探底行情，其中早盘高开近2%的 创业板指倒跌逾1%。沪深两市成交额1.71万亿，较上一个交易日缩量177亿。 | | 值得注意的是,中国银行自10月9日以来累计涨幅已达20%。 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | K 简 九转 连板 事件 ▼ 加自选 均线 除权 叠 窗 预测 更多 ● ▼ | | | 中国银行 601988 | | | | | | | ◎ 0 0 0 2 × 日 ( + ) 0 6.41 6 33 | | 6. 25 +0.25 +4.17% 園 | | | | | | | | 2 +16.70% | 33271 | नेट | 20 | | | | | | 1 个股K线区间统计 | | × | | | | | | 記始时间: | 2025-10-09 | | 周期个数: | | | | | | 终止时间: | 2025-11-20 | | 31个 | | | | | | | | | | ...

秉持原则底线，确保市场平稳有序运行。华源期货将合规风控视为立足发展的根基，通过开展金融知识 下乡、反诈宣传等活动，筑牢投资者保护屏障。严格遵循监管要求，完善全流程风险管理制度，以科技 赋能与制度建设为双轮驱动，切实防范系统性风险的发生。 在新的发展征程中，华源期货将持续深入推进党建与业务的融合，凭借数字化转型推动服务升级，在服 务实体经济、助力乡村振兴的道路上坚定前行，为期货行业的高质量发展注入源源不断的动力。 深耕实体经济，践行金融使命。华源期货紧密贴合国家战略需求，在绿色金融领域积极进行布局，对接 再生金属期货等创新品类，助力产业链企业实现"双碳"目标。在乡村振兴工作方面，其一，通过消费帮 扶举措，采购沙县黄溪坑村椴木香菇等农产品，推动农户增收；其二，在汾西、隰县等地实施庭院经济 培育、灌溉设施修缮等产业帮扶项目，以"期货 + 产业"模式激发乡村发展的活力。 依托科技赋能，升级服务生态。华源期货与专业技术团队开展合作，搭建微信生态协同服务体系，整合 十六项智能业务通知功能，经由公众号、小程序矩阵达成交易、资讯、投资者教育全场景覆盖。与此同 时，探索人工智能大模型在投研分析与风险预警领域的应用，推动"期现一 ...

(责编：胡永秋、杨光宇) 张国清强调，国有企业要持续提高自主创新能力，以科技创新与产业创新深度融合培育新质生产力、打 造竞争新优势。要健全国有企业推进原始创新制度安排，提升基础研究的研发投入占比，加快原创技术 策源地布局与建设，在关键核心技术、关键共性技术、前沿技术上取得更多突破。要推动国有企业加快 布局建设一批概念验证、中试验证平台，强化软硬件创新与标准研制一体推进，加快应用场景培育和开 放，形成技术突破、场景验证、产业应用、迭代升级的良性循环。要支持国有企业与高校、科研院所、 民营企业密切配合，面向产业所需共同凝练科技问题、协同开展攻关、共建创新平台、联合培养人才， 促进创新要素顺畅流动，持续优化创新生态，提升协同创新整体效能。 《 人民日报 》（ 2025年11月20日 02 版） 新华社重庆11月19日电 中共中央政治局委员、国务院副总理张国清16日至19日在贵州、重庆调研制造 业数智化转型升级、国有企业创新发展等工作。他强调，要认真学习贯彻党的二十届四中全会精神，深 入贯彻落实习近平总书记重要讲话精神，准确把握新质生产力丰富内涵，加快制造业数智化转型升级， 扎实推进国有企业创新发展，坚持优化提升传统 ...

中共中央政治局委员、国务院副总理张国清16日至19日在贵州、重庆调研制造业数智化转型升级、国有 企业创新发展等工作。他强调，要认真学习贯彻党的二十届四中全会精神，深入贯彻落实习近平总书记 重要讲话精神，准确把握新质生产力丰富内涵，加快制造业数智化转型升级，扎实推进国有企业创新发 展，坚持优化提升传统产业、培育壮大新兴产业、前瞻布局未来产业并举，因地制宜发展新质生产力。 （文章来源：新华社） 张国清强调，国有企业要持续提高自主创新能力，以科技创新与产业创新深度融合培育新质生产力、打 造竞争新优势。要健全国有企业推进原始创新制度安排，提升基础研究的研发投入占比，加快原创技术 策源地布局与建设，在关键核心技术、关键共性技术、前沿技术上取得更多突破。要推动国有企业加快 布局建设一批概念验证、中试验证平台，强化软硬件创新与标准研制一体推进，加快应用场景培育和开 放，形成技术突破、场景验证、产业应用、迭代升级的良性循环。要支持国有企业与高校、科研院所、 民营企业密切配合，面向产业所需共同凝练科技问题、协同开展攻关、共建创新平台、联合培养人才， 促进创新要素顺畅流动，持续优化创新生态，提升协同创新整体效能。 在贵州和重庆， ...