Market Overview - The three major indices opened lower, with the Shanghai Composite Index at 3962.44 points, down 0.24%, the Shenzhen Component Index at 13161.70 points, down 0.31%, and the ChiNext Index at 3089.38 points, down 0.51% [1] Company Announcements - Semiconductor Manufacturing International Corporation (SMIC) reported a significant demand for various memory products, indicating a supply shortage in the storage industry, which is expected to maintain high price levels [2] - Huaxia Innovation announced a halt in trading due to abnormal stock price fluctuations observed on three occasions [2] - Pingtan Development also announced a trading halt due to a cumulative stock price increase of 255% since October 17, which significantly diverges from the company's fundamentals [2] - Everbright Technology announced that its subsidiary will begin trial production of a lithium battery additive project with an annual capacity of 5000 tons [3] - Xpeng Motors reported third-quarter revenue of 20.38 billion yuan, a 102% year-on-year increase, with a net loss of 380 million yuan [6] Industry Insights - The energy metals, software development, internet services, and shipbuilding sectors performed well, while the pharmaceutical, precious metals, insurance, and photovoltaic equipment sectors showed weakness [8] - The A-share market is currently in a phase of consolidation around the 4000-point mark, with expectations of a steady upward trend in the medium term [8] - The European Union forecasts moderate economic growth in the Eurozone, with GDP growth expected to be 1.2% and 1.4% in the next two years [6]