Macro Economy - The State Council issued measures to promote private investment, mandating that over 40% of procurement budgets for engineering projects exceeding 4 million yuan be reserved for small and medium-sized enterprises [2] - The Ministry of Commerce and other departments adjusted the management directory for exporting controlled chemicals, adding the US, Mexico, and Canada, with 13 specific chemicals listed for these countries [2] - A wave of bank app closures is occurring, particularly in credit card and direct banking sectors, due to low daily active users and the end of the traffic dividend era [2] Industry Trends - The Asset Management Association of China is drafting guidelines for managing thematic investment styles in publicly offered securities investment funds, seeking feedback from fund managers by November 15 [4] - The State Administration for Market Regulation issued compliance reminders for e-commerce platforms ahead of the "Double 11" shopping festival, prohibiting practices like "choose one from two" and ensuring promotional rules are clear and transparent [4] - The domestic gold ETF saw an increase of 79.015 tons in the first three quarters, a year-on-year growth of 164.03%, while overall gold consumption decreased by 7.95% [4] Company Dynamics - Unbounded Dynamics completed a 300 million yuan angel financing round, led by Sequoia China and Linear Capital, with total financing exceeding 500 million yuan [7] - "Carrot Run" received the first batch of fully unmanned commercial operation licenses from the Abu Dhabi Integrated Transport Center, marking its first large-scale unmanned operation outside China [7] - CPE Yuanfeng announced a $350 million investment to acquire approximately 83% of Burger King China, establishing a joint venture for exclusive development rights in China [7] - TSMC reported a sales revenue of 367.47 billion NTD in October, with a year-on-year growth of 16.9% [7] Important Announcements - Zhongji Xuchuang announced plans to issue H-shares and list on the Hong Kong Stock Exchange [9] - Shandong Gold's subsidiary needs to pay 738 million yuan in taxes, expected to impact the company's net profit in 2025 by 230 million yuan [9] - Ganfeng Lithium announced that its PPGS lithium salt lake project phase one has obtained an environmental assessment report, with approximately 15.07 million tons of proven and controlled resources [14]

Core Viewpoint - The article discusses the increasing attention on thematic funds in the investment market, highlighting the recent draft of the "Guidelines for Thematic Investment Style Management" by the Asset Management Association of China, aimed at regulating thematic investment funds and ensuring their compliance with stated investment directions [1][3]. Thematic Fund Naming and Investment Direction - The names of thematic investment funds must clearly indicate their investment direction and align with the investment direction specified in the fund contract, avoiding misleading representations [3]. - Fund managers are required to specify that over 80% of non-cash fund assets are invested in securities that align with the stated investment direction [3]. Establishment of Style Library - Thematic investment funds must establish a "style library" to manage securities that meet specific investment directions [5]. - For funds with specific market capitalization directions, the style library must include securities that meet defined market cap thresholds [5]. - When the investment direction is industry-based, publicly available third-party classification standards should be used for the style library [5]. Monitoring and Compliance - Fund managers must implement strict approval processes for the establishment and updates of the style library, ensuring compliance with the fund contract [8]. - Continuous monitoring of the investment style stability is required, with adjustments made for significant deviations from the stated investment direction [8]. - Fund managers must ensure the independence of research and compliance personnel, enhancing oversight of fund manager trading behaviors [8]. Responsibilities of Fund Custodians - Fund custodians are tasked with establishing a supervision mechanism for thematic investment funds, ensuring clarity in the fund's investment direction and style [11]. - Custodians must review the style library within five trading days of receipt, verifying compliance with the fund contract [12]. - If discrepancies are found, custodians must promptly communicate with fund managers for clarification and adjustments [12].