Market Overview - On April 25, 2025, A-shares showed mixed performance with the Shanghai Composite Index down 0.07% at 3295.06 points, while the ChiNext Index rose 0.59% to 1947.19 points. The total trading volume in the Shanghai and Shenzhen markets was 111.35 billion yuan, an increase of 4.5 billion yuan from the previous trading day [1] - Hong Kong stocks experienced fluctuations, with the Hang Seng Index closing up 0.32% at 21980.74 points, and the total trading volume reaching 208.036 billion HKD. For the week, the Hang Seng Index rose 2.74% [1] - In the U.S. market, major indices closed higher, with the S&P 500 up 0.74% at 5525.21 points and the Nasdaq Composite Index up 1.26% at 17382.94 points [1] New Stock Offerings - On April 28, 2025, a new stock, Zerun New Energy, will be available for subscription at an issue price of 33.06 yuan per share, with a price-to-earnings ratio of 17.57. The company specializes in integrated solutions for photovoltaic component junction boxes and is also developing auxiliary power battery boxes for electric vehicles [3] Important News - On April 27, 2025, the Ministry of Commerce and five other departments announced a reduction in the threshold for departure tax refunds, allowing foreign travelers to apply for refunds on purchases of 200 yuan or more. The cash refund limit has been raised to 20,000 yuan, enhancing payment service options for travelers [4] - In the first quarter of 2025, profits of large-scale industrial enterprises in China totaled 1509.36 billion yuan, a year-on-year increase of 0.8%. State-owned enterprises saw a profit decline of 1.4%, while foreign and Hong Kong-Macau-Taiwan invested enterprises experienced a profit increase of 2.8% [4] Theme Opportunities - On April 27, 2025, the State Council approved the first batch of nuclear power projects for 2025, including 10 new units across five projects, which is expected to drive over 200 billion yuan in investment. This marks the continuation of a regular approval pace for nuclear projects, with all new projects utilizing domestically developed third-generation nuclear technology [4]

2025年国内核电项目审批首次开闸。据新闻联播4月27日消息，当天召开的国务院常务会议决定核准浙 江三门三期工程等核电项目。记者从业内多方了解到，此次在国常会上获批的新项目分别是广西防城港 核电三期（5、6号机组），广东台山核电二期（3、4号机组），浙江三门核电三期（5、6号机组），山 东海阳核电三期（5、6号机组），福建霞浦核电一期（1、2号机组），共计5个工程、10台新机组。至 此，2022年以来，我国已连续四年每年核准10台及以上核电机组，保持了常态化审批节奏。记者获悉， 以上新项目均采用自主三代核电技术，其中包含8台华龙一号机组。核电工程历来是扩大有效投资的重 要拉动力，以单台国产百万千瓦三代核电机组约200亿元的投资力度估算，此次新核准机组的投资总额 超过2000亿元。 (智通财经) ...