1、 外交部发言人郭嘉昆昨日主持例行记者会。有记者提问称，据报道，英国首相斯塔默于明年1月29日到31日访华，将到访北京和 上海。郭嘉昆回应，中方重视改善和发展中英关系，愿同英方加强各层级交往。"据我所知，中方尚未同英方就斯塔默首相访华日期 等具体问题进行讨论。" 早 报 精 选 4、美联储宣布降息25个基点。鲍威尔表示，美联储一直在朝着中性利率方向调整，目前已处于中性利率区间的上端。 5、贵州茅台2025年中期分红300亿元，五粮液2025年中期分红100.07亿元。 宏 观 新 闻 2、据报道，12月9日，英国政府宣布对两家中国公司实施制裁，声称相关公司对英国及其盟友发动网络攻击，称其行为与中国政府 相关。外交部发言人郭嘉昆对此表示，中方对英方借网络安全问题搞政治操弄的做法表示强烈不满、坚决反对，并已经在北京和伦敦 向英方提出严正交涉。 3、据报道，虽然美国总统特朗普已经决定允许将英伟达的H200芯片出售给中国，但中方正在考虑限制获取该芯片。外交部发言人 郭嘉昆对此表示，具体的情况，建议向中方的主管部门进行询问。 1、外媒称中方正考虑限制获取英伟达H200芯片，外交部回应。 2、IMF拟上调2025年中国 ...

近年来，广东聚焦前沿科学领域，多项重大科技基础设施建成或加快建设。江门中微子实验站建成并发 布首个物理成果；散裂中子源一期建成，自主研发的加速器硼中子俘获治疗实验装置开展临床试验；强 流重离子加速器、加速器驱动嬗变研究装置、人类细胞谱系、先进阿秒激光、冷泉生态系统研究装置、 鹏城云脑Ⅲ等加快建设。"十四五"期间，广东新增国家重大科技基础设施5个，已建成和在建达到10 个，数量跃居全国第三。 南方财经记者观察到，在粤重大科技基础设施的关键核心器件正加快实现国产化，一大批重大科技成果 正在粤港澳大湾区"沿途下蛋"，大设施建设过程沿途转化成果不断增多，广东打造世界一流重大科技基 础设施群正从蓝图变为现实。 360度自由视角观赛，8K超高清直播捕捉运动员微表情·····在上个月刚结束的第十五届全国运动会赛事期 间，篮球和羽毛球赛场上的"超视角"功能，为数千万人次线上观众带来沉浸式观赛体验。这场前所未有 的自由观赛方式解锁背后离不开一个幕后功臣——在粤重大科学基础设施深圳鹏城实验室的技术支持。 重大科技基础设施是实现高水平科技自立自强、支撑高质量发展的物质技术基础，是突破科技难题、引 领产业变革、保障国家安全的国之重器 ...

（原标题：原始创新"沿途下蛋"，科创"国家队"扎堆大湾区） 南方财经记者程浩 东莞、深圳报道 360度自由视角观赛，8K超高清直播捕捉运动员微表情·····在上个月刚结束的第十五届全国运动会赛事期 间，篮球和羽毛球赛场上的"超视角"功能，为数千万人次线上观众带来沉浸式观赛体验。这场前所未有 的自由观赛方式解锁背后离不开一个幕后功臣——在粤重大科学基础设施深圳鹏城实验室的技术支持。 重大科技基础设施是实现高水平科技自立自强、支撑高质量发展的物质技术基础，是突破科技难题、引 领产业变革、保障国家安全的国之重器。日前，全国人大代表集中视察活动走进大学科装置中国散裂中 子源，鹏城云脑网络智能设施等在粤重大科技基础设施，深入了解在粤重大科技基础设施建设运营情 况。让代表们意想不到的是，"国之重器"原来离大家的日常生活这么近。 近年来，广东聚焦前沿科学领域，多项重大科技基础设施建成或加快建设。江门中微子实验站建成并发 布首个物理成果；散裂中子源一期建成，自主研发的加速器硼中子俘获治疗实验装置开展临床试验；强 流重离子加速器、加速器驱动嬗变研究装置、人类细胞谱系、先进阿秒激光、冷泉生态系统研究装置、 鹏城云脑Ⅲ等加快建设。 ...

Core Insights - The future network experimental facility, China's first major national scientific infrastructure in the information and communication sector, has passed national acceptance and is officially operational, marking a significant advancement in China's internet capabilities [1][2] Group 1: Facility Overview - The facility features end-to-end determinism, distinguishing it from traditional internet systems, and aims to address various issues that have emerged in the traditional internet landscape [1] - The project was initiated in 2010 and construction began in 2015, with the facility now covering 40 cities nationwide and supporting 4096 parallel experiments [2] Group 2: Technical Achievements - The facility enables efficient, high-speed, low-latency data transmission with a packet loss rate of only one in a million, significantly outperforming traditional internet methods [2] - For instance, transferring 72TB of data via traditional internet would take 699 days, while the future network can accomplish this in just 1.6 hours [2] Group 3: Applications and Impact - The facility supports various sectors, allowing universities, research institutions, and enterprises to conduct theoretical and technical research, having already facilitated 120 innovative experiments during its trial run [3] - It is expected to enhance the quality of economic development by providing a robust platform for innovation and technology transfer, addressing challenges in high-end computing resources [3]

Core Viewpoint - The 2025 Greater Bay Area Exchange Technology Conference will focus on the theme of "Moving Towards the AI+ Era," highlighting advancements in computing power networks and AI models [1][3]. Group 1: Event Overview - The conference will be held on November 28-29, organized by the Shenzhen Stock Exchange in collaboration with the Hong Kong Stock Exchange and the Guangzhou Futures Exchange [1]. - Gao Wen, Director of the Pengcheng Laboratory and a distinguished professor at Peking University, will deliver a keynote speech on "China's Computing Power Network Plan and Pengcheng Brain Model" [1]. Group 2: Computing Power Network Development Stages - The evolution of computing power network technology consists of three development stages: - The first stage, "Computing Power Resources Aggregation," is the current focus, aiming to consolidate various computing resources across the country into a unified system for better visibility [3]. - The second stage, "Computing Tasks Scheduling," will enable automatic allocation of computing tasks to the most suitable centers based on cost, location, and demand, similar to smart grid management [3]. - The third stage, "Computing Tasks Coordination," represents the ultimate goal where users can seamlessly utilize national computing power without awareness, with the system automatically coordinating resources [3]. - The transition to the third stage may take nearly a decade, with the industry currently primarily in the first stage [3].

Core Insights - The construction of China's computing power network aims to make computing power as accessible as electricity, fundamentally transforming the creation, production, dissemination, and consumption of cultural content [1] - The computing power industry is expected to experience explosive growth, providing new opportunities for the high-quality development of the cultural industry [1][2] - The computing power network will enable full-process intelligent production of cultural content, enhancing immersive experiences and creating new cultural consumption scenarios [2] Industry Developments - The "East Data West Computing" project initiated in 2022 marks a significant transformation in China's computing consumption model, positioning data centers and computing power centers as key infrastructure investments [1] - The development of computing power will lower the innovation threshold and costs for "culture + technology," allowing small and medium-sized cultural enterprises to access powerful AI tools for creation [1][2] - The construction of the computing power network will accelerate the digital innovation and development of traditional Chinese culture, enabling high-precision 3D digital reconstruction of cultural relics and automatic processing of ancient texts [2] Technological Advancements - The Pengcheng Laboratory is leading the research and construction of the "China Computing Power Network," focusing on national strategies such as "East Data West Computing" and "Digital China" [3] - The "Pengcheng Cloud Brain II," developed by the Pengcheng Laboratory, is the first fully autonomous E-level intelligent computing platform in China, with ongoing work on the "Pengcheng Cloud Brain III" expected to be completed next year [3] - The establishment of a national-level computing power infrastructure is crucial for enhancing data application efficiency and supporting the integration of AI and cultural industries [3]

Group 1: Market Overview - The health industry continues to strengthen, with several stocks performing exceptionally well [1][6] - A-shares experienced fluctuations, with major indices slightly declining after reaching a 10-year high [1] - The total trading volume for the week was approximately 10.22 trillion yuan, with daily turnover around 2 trillion yuan [1] Group 2: Financing Trends - Cumulative net financing for the year reached 634 billion yuan, with over 12.6 billion yuan net bought this week [2] - The power equipment sector saw over 5.3 billion yuan in net purchases, while the non-ferrous metals and basic chemicals sectors each received over 3 billion yuan [2] - The pharmaceutical and biotechnology sectors attracted over 30.5 billion yuan in net inflows, while the electronics sector faced a net outflow of over 16.1 billion yuan [2] Group 3: Banking Sector Performance - The banking sector has been performing strongly, with indices frequently reaching historical highs [3] - Over the past three years, bank stocks have increased by 94%, significantly outperforming the Shanghai Composite Index [3] - Agricultural Bank of China has shown remarkable growth, with a cumulative increase of 317% over four years [3] Group 4: Policy and Future Outlook - Policies aimed at optimizing bank credit structures and enhancing interest margins are expected to support the banking sector [5] - The health industry is projected to grow significantly, with estimates suggesting a market size of 17.4 trillion yuan by 2025 and 29.1 trillion yuan by 2030 [8] - The market is expected to stabilize, with structural trends becoming more pronounced, particularly in the TMT sector and coal and banking investments [9]

Focus Events - Three A-share companies, Duori Pharmaceutical, Zhonghuan Environmental Protection, and Asia-Pacific Pharmaceutical, announced on September 28 that they would suspend trading due to control change plans involving their major shareholders and actual controllers, effective from September 29 [1] - Duori Pharmaceutical indicated that its major shareholder, Tibet Jiakang Times Technology Development Co., Ltd., and actual controller Deng Yong are planning a control change that may lead to a change in the major shareholder and actual controller [1] - Zhonghuan Environmental Protection stated that its major shareholder Zhang Bozhong and his concerted party Anhui Zhongchen Investment Holding Co., Ltd. are also planning a control change [1] - Asia-Pacific Pharmaceutical disclosed that its major shareholder Ningbo Fubang Holding Group Co., Ltd. and its concerted parties are in discussions regarding a control change, with specific transaction plans yet to be finalized [1] Company Focus - The first meeting of the Party Committee of China Pingmei Shenma Group was held on September 29, where the strategic restructuring plan with Henan Energy was approved, emphasizing no layoffs or salary reductions due to the restructuring [2] - Hangzhou Qilun B successfully passed the registration for B-share to A-share conversion, marking the first such case in three years, with the approval allowing for a share exchange and cash options for dissenting shareholders [5] - Moer Thread, a domestic GPU company, successfully passed the IPO review, aiming to raise 8 billion yuan, potentially becoming the second-largest IPO in A-shares this year [16] - New Light Optoelectronics announced that its chairman and actual controller is under investigation, leading to a temporary leadership change [16] - Fuhuang Steel Structure received a notice of investigation from the China Securities Regulatory Commission for suspected information disclosure violations [17] - Meichen Technology was penalized for inflating revenue by 1.438 billion yuan over five years, leading to a stock warning and a change in stock status to ST [19] - Yonghui Supermarket received a regulatory warning for failing to timely disclose changes in shareholding [21] - Boqian New Materials signed a strategic cooperation agreement for nickel powder sales, estimated to be worth 4.3 billion to 5 billion yuan [22] - Ningbo Huaxiang signed a patent licensing agreement with Jilin University for PEEK industrialization technology, investing 30 million yuan [23] - New Dazheng plans to acquire 75.15% of Jiaxin Liheng's shares, leading to a significant business expansion [24] - Guan Zhong Ecology announced a change in its controlling shareholder to Deep Blue Financial Whale, with stock resuming trading [25] - Yidao Information is planning a major asset restructuring involving the acquisition of stakes in two companies, leading to a trading suspension [26] - Zhiguang Electric is planning to purchase shares in its subsidiary Zhiguang Energy, resulting in a trading suspension [27]

Core Viewpoint - The article discusses recent significant developments in China's economic and financial landscape, highlighting the importance of monetary policy adjustments, industrial growth strategies, and market sentiment ahead of the National Day holiday. Monetary Policy and Economic Stability - The People's Bank of China suggests enhancing monetary policy regulation to improve foresight, targeting, and effectiveness, while maintaining capital market stability through various financial instruments [4] - The State-owned Assets Supervision and Administration Commission focuses on stabilizing electricity and coal prices, preventing unhealthy competition, and optimizing investment structures to support high-quality development [5] Industrial Performance and Growth Strategies - In the first eight months of 2025, profits of large-scale industrial enterprises in China increased by 0.9% year-on-year, with state-owned enterprises experiencing a 1.7% decline in profits [6] - The Ministry of Industry and Information Technology outlines a growth plan for the non-ferrous metals industry, targeting an average annual growth of around 5% from 2025 to 2026 [7] - The petrochemical industry is also projected to achieve an average annual growth of over 5% during the same period, with a focus on enhancing technological capabilities and sustainable practices [11][12] Market Sentiment and Investment Strategies - Major brokerages provide insights into market trends, with a consensus that holding stocks during the holiday period may be advantageous due to historical patterns of post-holiday market performance [17][21] - The focus on structural growth in sectors such as semiconductors, new energy, and innovative pharmaceuticals is emphasized as key investment opportunities [18][20] - The article notes that the upcoming APEC meeting and the Fourth Plenary Session of the 20th Central Committee are critical events that could influence market dynamics [15][17] Sector-Specific Insights - The automotive industry in Jiangsu province is adjusting its vehicle replacement subsidy policy, which may impact consumer behavior and market dynamics [8] - The transportation sector is set to see widespread application of artificial intelligence by 2027, indicating a shift towards smarter logistics and infrastructure [9] - The development of a national integrated computing network is expected to bolster the digital economy and support innovation in various sectors [10] Conclusion - The article highlights a complex interplay of monetary policy, industrial growth strategies, and market sentiment as China approaches the National Day holiday, with various sectors poised for potential growth and investment opportunities [2][3]

Investment and Financing News - AI startup Modular raised $250 million in a new funding round, achieving a valuation of $1.6 billion [6] - Jiutian Ruixin completed over 100 million yuan in Series B financing, aimed at accelerating the iteration of new chip products and market expansion [7] - Xingmai Innovation secured 1 billion yuan in A+ round financing to enhance technology development and expand overseas markets [8] - Yitang Technology completed over 100 million yuan in Series A financing to accelerate the R&D of high-speed, high-precision placement machines [9] - Jing'an Technology raised over 100 million yuan in Pre-A round financing for urban safety intelligent technology development [10] Policy and Infrastructure Development - The National Development and Reform Commission is accelerating the construction of a nationwide integrated computing network to support digital economy innovation [2] - Eight departments issued guidelines to increase the effective supply of AI terminal products and promote smart connected vehicles [2] - The Ministry of Industry and Information Technology and the National Development and Reform Commission are promoting the deployment of 5G and other network infrastructures in industrial parks [3] Market Trends - The penetration rate of passenger cars equipped with combined driving assistance systems exceeded 60%, with 7.76 million units sold in the first seven months of 2025 [4] - The Ministry of Transport is set to implement the "Artificial Intelligence + Transportation" initiative, focusing on various innovative applications [5] Corporate Actions - Zhiyuan Hengyue plans to make a tender offer to acquire 37% of the shares of Shangwei New Materials at a price of 7.78 yuan per share, requiring a maximum total fund of 1.161 billion yuan [11] - The company Jingzhida delivered its first high-speed testing machine to a key domestic client, enhancing its competitive position in the semiconductor storage testing equipment market [12]