Market Overview - On November 28, 2025, the A-share market saw all three major indices close higher, with the Shanghai Composite Index at 3888.60 points, up 0.34%, the Shenzhen Component Index at 12984.08 points, up 0.85%, and the ChiNext Index at 3052.59 points, up 0.70%. Over 4100 stocks rose, while the total trading volume in the Shanghai and Shenzhen markets was 1.59 trillion yuan, a decrease of 120 billion yuan from the previous trading day [1] - In the Hong Kong market, the three major indices showed mixed results, with the Hang Seng Index down 0.34% or 87.04 points, closing at 25858.89 points, and a total trading volume of 146.204 billion HKD. The Hang Seng China Enterprises Index fell 0.38%, while the Hang Seng Tech Index rose slightly by 0.02%. For the month, the Hang Seng Index decreased by 0.18%, the China Enterprises Index by 0.42%, and the Tech Index by 5.23% [1] Industry News - The Ministry of Industry and Information Technology (MIIT) held a meeting on November 28, 2025, to discuss the power and energy storage battery industry, emphasizing the need for targeted policy measures to regulate irrational competition. MIIT Minister Li Lecheng highlighted the rapid growth of the industry, which has gained global competitive advantages in market size, innovation, and industrial systems. However, challenges remain, necessitating a comprehensive understanding of the industry landscape and the implementation of measures to combat "involution" competition, enhance capacity monitoring, and improve product quality oversight [2] - The Shanghai Stock Exchange announced on November 28, 2025, that it would closely monitor stocks with abnormal fluctuations, including *ST Suwu and *ST Yazhen, which are under delisting risk warnings, as well as stocks like Hezhi China and Tianpu Co., which have shown significant volatility. The exchange took self-regulatory measures against 80 instances of abnormal trading behavior and reported one suspected illegal case to the China Securities Regulatory Commission [3]

Core Viewpoint - The meeting organized by the Ministry of Industry and Information Technology emphasizes the importance of the power and energy storage battery industry, aiming to promote high-quality development and address challenges within the sector [2][4]. Group 1: Industry Development - The power and energy storage battery industry in China has rapidly developed, achieving global competitive advantages in market scale, innovation capability, and industrial system [4]. - Despite the growth, the industry faces significant challenges, necessitating a comprehensive understanding of the development situation and the implementation of targeted policies to address irrational competition [4]. Group 2: Policy and Regulation - The Ministry plans to enhance capacity monitoring, early warning, and regulation, as well as strengthen product quality supervision and intellectual property rights protection [4]. - There is a call for industry enterprises to resist irrational competition and to foster a healthy market environment through collaboration and innovation [4]. Group 3: Future Directions - The Ministry will scientifically formulate the "14th Five-Year" industrial development plan, increase support for technological innovation, and improve the modernization of industry governance [4]. - Industry associations are encouraged to deepen research on industry development and promote self-discipline to create a collaborative and win-win industrial ecosystem [4].

Core Viewpoint - The meeting organized by the Ministry of Industry and Information Technology emphasizes the importance of regulating the competition order in the power and energy storage battery industry and promoting high-quality development in the sector [1][3]. Group 1: Industry Development - The power and energy storage battery industry in China has rapidly developed, achieving global competitive advantages in market scale, innovation capability, and industrial system [3]. - The industry faces several challenges and issues that need to be addressed to maintain its growth trajectory [3]. Group 2: Policy and Regulation - The Ministry plans to implement targeted policies to address irrational competition, enhance capacity monitoring, and improve product quality supervision [3][4]. - There is a call for the industry to resist irrational competition and to foster a healthy market environment [3][4]. Group 3: Innovation and Collaboration - Companies are encouraged to enhance their core competitiveness through increased R&D investment and innovation [3][4]. - Strengthening collaboration within the industrial chain is essential to improve self-control levels and create new development advantages [4]. Group 4: Industry Governance - The Ministry will develop the "14th Five-Year" industrial development plan, focusing on technological innovation and modernizing industry governance [4].