10月11日，"暖城之邀"鄂尔多斯（600295）市走进清华大学引才宣介会暨2026届毕业生专场招聘活动在清华大学成功举办。市人民政府党组成员、副市长张 秀玲出席并致辞，市人力资源和社会保障局局长张良主持活动。 宣介会前，张秀玲拜会了清华大学党委副书记许庆红，围绕产学研协同、科技成果转化、人才引进与合作培养等进行交流。张秀玲表示，鄂尔多斯正在加快 构建现代化产业体系，着力打造"四个世界级产业"，比以往任何时候都更需要科技和人才的支撑，希望以此次活动为契机，进一步拓展校地合作空间。 共鄂尔 中 都尔多 共计可 单位: 都尔多 宣介会上，清华大学学生职业发展指导中心主任谢矜致欢迎辞，张秀玲副市长作城市推介。中国科学院院士欧阳明高结合科研实践，分享了在鄂尔多斯开展 合作的体会。清华大学校友、鄂尔多斯应用技术学院夏前锦老师及机场集团招聘负责人分别发言，介绍了在鄂尔多斯的工作发展情况。市人社局相关负责人 详细解读了鄂尔多斯人才政策。 双选洽谈会现场气氛热烈，北京大学鄂尔多斯能源研究院、鄂尔多斯实验室、汇能集团、伊泰集团等20多家用人单位提供近700个人才需求，学子们踊跃咨 询、投递简历，现场共接收简历184份，初步达成 ...

商 品 研 究 研 究 所 晨 会 投资咨询业务资格： 证监许可[2011]1771号 观 点 精 萃 从业资格证号：F0256916 投资咨询证号：Z0000671 电话：021-68756925 邮箱：jialj@qh168.com.cn 从业资格证号：F03092124 投资咨询证号：Z0018827 电话：021-68758786 邮箱：mingdy@qh168.com.cn 从业资格证号：F3033924 投资咨询证号：Z0013026 电话：021-68751490 邮箱：Liuhf@qh168.com.cn 刘兵 从业资格证号：F03091165 投资咨询证号：Z0019876 联系电话：021-58731316 邮箱：liub@qh168.com.cn 从业资格证号：F03089928 投资咨询证号：Z0019740 电话：021-68757092 邮箱：wangyil@qh168.com.cn 从业资格证号：F3077183 投资咨询证号：Z0016121 电话：021-68757092 邮箱：fengb@qh168.com.cn 从业资格证号：F03144512 投资咨询证号：Z00222 ...

1、中方回应美威胁对华加征关税：如美一意孤行中方必采取相应措施; 2、工信部总工程师钟志红：加快高端算力芯片等技术攻关 大力发展智能机器人、智能穿戴等新一代 智能终端; 3、上海：加快培育硅光、6G、第四代半导体、类脑智能等产业； 4、纳斯达克中国金龙指数收跌 6.1% 热门中概股普跌。 文字早评 2025/10/13 星期一 宏观金融类 股指 【行情资讯】 期指基差比例： IF 当月/下月/当季/隔季：-0.07%/-0.36%/-0.53%/-0.98%； IC 当月/下月/当季/隔季：-0.22%/-1.18%/-1.79%/-4.02%； IM 当月/下月/当季/隔季：-0.26%/-1.49%/-2.57%/-5.49%； IH 当月/下月/当季/隔季：0.04%/-0.04%/0.03%/-0.03%。 【策略观点】 经过前期持续上涨后，AI 等高位热点板块近期出现分歧，资金高低切换，快速轮动，市场风险偏好有所 降低。本周中美关税的担忧再次扰动市场，短期指数面临一定的不确定性。但从大方向看，政策支持资 本市场的态度未变，中长期仍是逢低做多的思路为主。 国债 【行情资讯】 行情方面：周五，TL 主力 ...

南方财经记者 翁榕涛 实习生 李欣彤 马雨欣 消息面上，除美联储释放的鸽派信号之外，桥水基金创始人瑞·达利欧公开表示黄金"比美元更具避风港 作用"，进一步强化了市场对贵金属的配置信心。地缘政治方面，中东局势再现波折，推动避险情绪升 温。 光大期货认为，下半年金价将继续呈现"高位震荡、中枢上移"的特征，预计COMEX黄金期货价格在 3400~3700美元/盎司区间运行。 国庆节后的首周，国内大宗商品期货涨跌不一，贵金属、黑色系及基本金属板块领涨，能源化工板块及 部分农产品显著回落。 10月9日至12日期间，就国内期货市场具体来看，能源化工板块，燃油周下跌3.00%、原油下跌3.71%； 黑色系板块，铁矿石周上涨1.86%、焦煤上涨3.11%、焦炭上涨2.68%；基本金属板块，沪锌周上涨 2.04%、沪铜上涨3.37%、沪铝上涨1.45%；贵金属板块，沪金周上涨3.11%、沪银上涨1.50%；农产品板 块，鸡蛋周下跌7.64%、生猪下跌8.38%、豆粕下跌0.20%、棕榈油上涨2.28%。 交易行情热点 热点一：国际金价突破历史新高 供需与政策共振支撑高位运行 节日期间，国际金价强势上涨。受美国联邦政府停摆问题持 ...

Group 1 - The report indicates that despite short-term adjustments in the Hong Kong stock market, it remains in a trend of oscillating upward with a solid bottom [1] - The report maintains a positive outlook on AI technology, suggesting that while US tech giants may influence the trading rhythm of Hong Kong's AI sector, the acceleration of China's AI progress offers recovery potential for leading tech stocks in Hong Kong [2] - The report emphasizes a focus on cyclical recovery, with the market awaiting guidance from the Fourth Plenary Session and the 15th Five-Year Plan, suggesting tactical trading in cycles and consumption [2] Group 2 - The report lists a selection of "golden stocks" for October, including Alibaba, Kuaishou, Xiaopeng Motors, and others, with detailed financial metrics such as market capitalization, EPS, and PE ratios for 2026 and 2027 [2][6] - Alibaba is highlighted for its strong cloud business growth driven by AI, with significant investments in AI infrastructure expected to enhance its competitive edge and maintain high margins [9][10] - Kuaishou is recognized for its advancements in AI video generation technology, positioning it as a leading player in the domestic market [16][17] Group 3 - Xiaopeng Motors is projected to achieve substantial revenue growth, with expected revenues of 830 billion, 1494 billion, and 2229 billion RMB for 2025, 2026, and 2027 respectively, alongside a path to profitability by 2026 [23] - The report discusses the strategic focus of Xiaopeng Motors on building a platform-based technology foundation to enhance its competitive advantage in the electric vehicle market [27] - The report anticipates that the Robotaxi business of Cao Cao Mobility will benefit from the ongoing transformation of the ride-hailing market, with projected revenues of 206.7 billion, 262.4 billion, and 323.7 billion RMB for 2025 to 2027 [30] Group 4 - Horizon Robotics is noted for its leadership in automotive intelligent driving solutions, with a significant market opportunity as the penetration of high-level autonomous driving increases [35] - The report highlights the commercial potential of the pharmaceutical company Kelun-Biotech, with ongoing clinical trials and product registrations expected to drive growth [41] - The report emphasizes the robust pipeline and financial health of Hutchison China MediTech, with expectations for revenue growth driven by successful commercialization of existing products [51][52] Group 5 - China Petroleum & Chemical Corporation is positioned to benefit from regulatory changes aimed at standardizing and scaling the refining industry, with expectations for improved cash flow and dividend yield [70][74] - The report discusses the food and beverage company Guoquan's strategic expansion into rural markets, with plans to open 1,000 new stores, reflecting a strong growth trajectory [78][79]

在此基础上，四川积极打造人工智能、高端能源装备、航空航天等17条重点产业链；布局25条产业新赛 道，加快培育机器人、集成电路等新兴产业，以及第六代移动通信(6G)、量子科技、元宇宙等未来产 业；人工智能、生物技术、卫星网络、无人机等重点领域保持两位数以上增长。 截至目前，四川规模以上工业企业数量达到1.99万家，A股上市工业企业134家(占四川全部A股上市公 司的四分之三)，累计培育国家专精特新"小巨人"企业486家、国家单项冠军企业29家、世界500强企业3 户，上云企业43万家。 特别地，四川绿色低碳优势产业营收占比达28.2%，单位工业增加值能耗较2020年下降15.4%。四川工 业规模、结构和质效持续提升，工业"成色"更加耀眼。 在产业体系方面，四川坚持传统产业转型升级，新兴产业、未来产业发展壮大"两手抓"，电子信息、食 品轻纺、能源化工3个产业规模先后迈上万亿级台阶，装备制造、先进材料、医药健康3个产业正加速迈 向万亿大关。 全景网自"决胜'十四五'续写新篇章"系列主题新闻发布会获悉："十四五"期间，四川省规模以上企业工 业增加值年均增长6.6%，总量从1.34万亿元增至1.79万亿元，全国排位升至 ...

金融期货早评 宏观：国内需求端仍是核心症结 【市场资讯】1）中国商务部连发四则公告，事关稀土、锂电池、超硬材料等出口管制。2） 美国政府关门难解：参院七次否决拨款案，特朗普威胁砍民主党项目，共和党领袖否认要 动"大招"。3）美国劳工统计局准备在政府关门期间发布 9 月 CPI 数据。4）贝森特已面完 11 名美联储主席候选人，4 个人最有希望。美联储理事巴尔强调通胀风险、称降息需谨慎， 华尔街日报：凸显美联储内部分歧。美联储"三把手"威廉姆斯：支持今年进一步降息，并 不认为经济处于衰退边缘。5）美国财长贝森特：赤字比降至 5 开头，希望几年后降至 3 开头。 【核心逻辑】国内方面，国庆假期人员出行整体表现不弱。假期第六天，全社会跨区域人 员流动量 29819.42 万人次，环比增长 2.4%，同比增长 7%；假期前半程交通出行人数再创 新高，水路、民航旅客发送量亦实现增长。不过，国庆假期整体出行情况或不及五一假期。 整体来看，后续经济修复的关键仍需聚焦居民需求端。当前，供需两端政策正逐步推进， 后续或仍有增量政策出台，以推动物价平稳回升。需注意的是，政策出台的关键触发因素 或为经济数据超预期下滑，且政策基调仍 ...

交易咨询资格号： 证监许可[2012]112 晨会纪要 2025 年 10 月 10 日 | 联系人：王竣冬 | | --- | | 期货从业资格：F3024685 | | 交易咨询从业证书号：Z0013759 | | 研究咨询电话： | | 0531-81678626 | | 客服电话： | | 400-618-6767 | | 公司网址： | | www.ztqh.com | | [Table_QuotePic] 中泰微投研小程序 | | [Table_Report] 中泰期货公众号 | 请务必阅读正文之后的免责声明部分 [Table_Finance] 交易咨询资格号：证监许可[2012]112 | 偏空 | 震荡 | 偏多 | | --- | --- | --- | | 沪锌 | 沪铅 | 郑棉 | | ビー | PVC | 菜粕 | | 棕榈油 | 豆油 | 豆粕 | | 白糖 | 聚丙烯 | 甲醇 | | 沪锡 | 热轧卷板 | 橡胶 | | 沪金 | 鸡蛋 | 玉米 | | 沪铜 | 锰硅 | 沖铝 | | | 铁矿石 | | | | 菜油 | | | | 塑料 | | | | 螺纹钢 | | | ...

近日，齐鲁晚报·齐鲁壹点记者从浙江政务服务网获悉，浙江嘉化能源化工股份有限公司因不执行政府指导价、政府定价的行为案，被嘉兴 市市场监督局港区分局行政处罚。 主要违法事实：经查，因上网电价属于《浙江省定价目录》规定的政府定价项目，当事人在执行环保电价政策过程中，违反浙江省物价 局、浙江省环境保护厅《关于非省统调公用热电联产发电机组执行环保电价及考核等有关事项的通知》（浙价资【2015】201号）的规 定，存在不执行政府定价的违法事实。没收污染物超限值时段多收环保电价款542.02元。 | 国家政务服务平台 浙江省人民政府 无障碍 长辈版 登录 | ● 浙江省▼ | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 好差评 | 首页 | 企业服务 | 个人服务 | 部门服务 | 〔 就医费用报销"一件事" | 搜索 | | 行政处罚年 引信息公司 | 返回行政处罚结果信息公开 返回首页 | | | | | | | 案件名称 | 浙江嘉化能源化工股份有限公司经营者不执行政府指导价、政府定价的行为案 | | | | | | | 行政处罚决定文书号 | 磊港 ...

Report Industry Investment Ratings No relevant content provided. Core Views of the Report - After the holiday, the A-share market showed a positive start, but there were also signs of a pullback after the rally. The technology sector remained active, and it is recommended to lightly sell put options on MO2511 at the strike price of around 6800 when the price pulls back [2][4]. - The bond market started well after the holiday, but the sentiment may be suppressed by the risk appetite. The short-term bond market is expected to continue to fluctuate within a range, and it is recommended to wait for over - adjustment opportunities [6]. - Precious metals prices first rose and then fell. Silver hit a new high due to supply shortages, and it is recommended to maintain a cautious and low - buying strategy for precious metals in the fourth quarter [9][10]. - The shipping index of European routes showed a weak and volatile trend. It is recommended to go long on the 12 - contract [12]. - Copper prices are expected to be strong due to supply shortages, while aluminum oxide prices are expected to be weak due to supply surpluses [14][20]. - Zinc prices are expected to fluctuate, tin prices are expected to be strongly volatile, nickel prices are expected to be strongly volatile, and stainless steel prices are expected to fluctuate within a range [31][36][40]. - The lithium carbonate market is in a tight balance, and the short - term price is expected to fluctuate [43]. - Steel prices are expected to be stable, and it is recommended to pay attention to the support levels of rebar and hot - rolled coils [45]. - Iron ore prices are expected to be strongly volatile, and it is recommended to go long on the 2601 contract at low prices [47]. - Coking coal and coke prices are expected to rebound, and it is recommended to go long on the 2601 contracts of both at low prices [51][54]. - The price of domestic meal is suppressed by supply pressure, and the M2601 contract is expected to fluctuate within a range [57]. - The price of live pigs is under pressure, and it is recommended to go short on the futures at high prices and conduct reverse arbitrage on relevant contracts [59]. Summary by Directory Financial Derivatives - Financial Futures Stock Index Futures - Market situation: After the holiday, A - share major indexes rose, with the Shanghai Composite Index up 1.32%, and the cyclical sectors performed strongly, while the consumer sectors declined [2]. - Futures situation: The four major stock index futures contracts rose, and the basis spreads of the main contracts fluctuated narrowly [3]. - News: Domestic consumption increased during the holiday, and overseas, the Fed showed a willingness to cut interest rates [3]. - Capital: The trading volume of the A - share market increased, and the central bank conducted reverse repurchase operations with a net withdrawal of funds [4]. - Operation suggestion: It is recommended to lightly sell put options on MO2511 at the strike price of around 6800 when the price pulls back [4]. Treasury Futures - Market performance: Treasury futures closed up across the board, and the yields of major interest - rate bonds mostly declined [5]. - Capital: The central bank conducted reverse repurchase operations, and the inter - bank market funds were relatively loose [6]. - Operation suggestion: The short - term bond market is expected to fluctuate within a range, and it is recommended to wait for over - adjustment opportunities [6]. Financial Derivatives - Precious Metals - Market review: Geopolitical risks eased, and precious metals prices first rose and then fell. Silver hit a new high due to supply shortages [7][9]. - Future outlook: In the fourth quarter, precious metals prices are expected to be bullish, and it is recommended to maintain a cautious and low - buying strategy [10]. Financial Derivatives - Shipping Index of European Routes - Spot quotation: The freight rates of different shipping companies are provided [11]. - Index situation: The shipping index of European routes declined, and the freight rates of different routes also decreased [11]. - Fundamentals: The global container capacity increased, and the demand in different regions varied [11]. - Logic: The futures market was weakly volatile, and the price increase of shipping companies will affect the main contract price [12]. - Operation suggestion: It is recommended to go long on the 12 - contract [12]. Commodity Futures - Non - Ferrous Metals Copper - Spot: The price of electrolytic copper rose, but the downstream procurement willingness was weak [12]. - Macro: The US government was shut down, and the market expected the Fed to implement monetary easing [13]. - Supply: The supply of copper mines was tight, and the production of refined copper was expected to decline [14]. - Demand: The demand for copper was expected to slow down marginally, but it still had strong resilience [15]. - Inventory: The inventories of LME, COMEX, and domestic social copper increased [16]. - Logic: Weak US dollars and supply shortages drove the copper price up [17]. - Operation suggestion: Hold long positions, and pay attention to the support at 84000 - 85000 [17]. Aluminum Oxide - Spot: The price of aluminum oxide declined, and the overall trading sentiment was weak [17]. - Supply: The domestic and overseas supply of aluminum oxide increased, and the demand was weak [20]. - Inventory: The inventory of aluminum oxide was high, and the registered warehouse receipts increased [19]. - Logic: The futures price fluctuated widely, and the short - term price was under pressure [20]. - Operation suggestion: The main contract is expected to fluctuate between 2850 - 3050 [20]. Aluminum - Spot: The price of aluminum rose, but the high price suppressed the procurement willingness [21]. - Supply: The production of electrolytic aluminum was expected to increase slightly [21]. - Demand: The demand for aluminum showed structural characteristics, and the high price suppressed the orders of small and medium - sized enterprises [23]. - Inventory: The social inventory of aluminum ingots increased after the holiday [22]. - Logic: Macro factors supported the aluminum price, and it is expected to fluctuate at a high level [23]. - Operation suggestion: The main contract is expected to fluctuate between 20700 - 21300 [23]. Aluminum Alloy - Spot: The price of aluminum alloy rose [25]. - Supply: The supply of recycled aluminum was tight, and the开工 rate was affected [25]. - Demand: The demand for aluminum alloy recovered moderately, but the terminal demand was weak [25]. - Inventory: The inventory of aluminum alloy continued to increase [26]. - Logic: The futures price rose with the aluminum price, and the cost supported the price [27]. - Operation suggestion: The main contract is expected to fluctuate between 20200 - 20800. Consider arbitrage if the price difference is over 500 [27][28]. Zinc - Spot: The price of zinc rose, and the trading was light [28]. - Supply: The supply of zinc was loose, and the production of zinc ingots increased [29]. - Demand: The demand for zinc was weak, and the开工 rate of primary processing industries declined [30]. - Inventory: The domestic social inventory of zinc decreased, and the LME inventory increased [31]. - Logic: Low inventory and weak US dollars supported the zinc price, and it is expected to fluctuate [31]. - Operation suggestion: The main contract is expected to fluctuate between 21800 - 22800 [31]. Tin - Spot: The price of tin rose significantly, but the trading was light [31]. - Supply: The supply of tin was affected by Indonesia, and the import volume decreased [32]. - Demand: The demand for tin was weak, and the traditional consumption areas were sluggish [33]. - Inventory: The LME inventory decreased, and the social inventory decreased [33]. - Logic: Supply disruptions and the strength of the semiconductor sector drove the tin price up, and it is expected to be strongly volatile [34]. - Operation suggestion: Wait and see [34]. Nickel - Spot: The price of nickel rose [35]. - Supply: The production of refined nickel was at a high level and was expected to increase slightly [35]. - Demand: The demand for nickel in different sectors varied, and the demand for stainless steel was weak [35]. - Inventory: The overseas inventory of nickel was high, and the domestic social inventory was stable [35]. - Logic: Macro factors and policy expectations supported the nickel price, and it is expected to be strongly volatile [36]. - Operation suggestion: The main contract is expected to fluctuate between 120000 - 126000 [36]. Stainless Steel - Spot: The price of stainless steel rose slightly [37]. - Raw materials: The price of raw materials was firm, and the cost supported the price [37]. - Supply: The production of stainless steel was expected to increase, and the supply pressure existed [38]. - Inventory: The social inventory of stainless steel decreased slowly [38]. - Logic: The futures price rose slightly, and the downstream demand did not meet expectations [39]. - Operation suggestion: The main contract is expected to fluctuate between 12600 - 13200 [40]. Lithium Carbonate - Spot: The price of lithium carbonate was stable, and the trading was light [40]. - Supply: The production of lithium carbonate increased, and the supply was affected by new projects [41]. - Demand: The demand for lithium carbonate was stable and optimistic, but the marginal increase needed to be tracked [41]. - Inventory: The inventory of lithium carbonate decreased in all links [42]. - Logic: The futures price fluctuated, and the supply and demand were in a tight balance [43]. - Operation suggestion: The main contract is expected to fluctuate around 70,000 - 75,000 [43]. Commodity Futures - Black Metals Steel - Spot: Steel prices were stable during the holiday and rebounded slightly after the holiday [43]. - Cost and profit: The cost of steel had support, and the profit declined [44]. - Supply: The production of steel decreased slightly during the holiday, and the overall production was high [45]. - Demand: The demand for steel showed seasonal improvement, and the export volume was high [45]. - Inventory: The inventory of steel increased during the holiday and is expected to decrease seasonally [45]. - View: Steel prices are expected to be stable, and it is recommended to pay attention to the support levels of rebar and hot - rolled coils [45]. Iron Ore - Spot: The price of iron ore rose [46]. - Futures: The price of iron ore futures rose, and the 1 - 5 spread weakened [46]. - Basis: The basis of different iron ore varieties was provided [46]. - Demand: The demand for iron ore decreased slightly [46]. - Supply: The global shipment of iron ore decreased, and the arrival volume increased [46]. - Inventory: The port inventory of iron ore increased, and the daily dredging volume decreased [47]. - View: Iron ore prices are expected to be strongly volatile, and it is recommended to go long on the 2601 contract at low prices [47][48]. Coking Coal - Futures and spot: The coking coal futures rebounded, and the spot price declined slightly [49]. - Supply: The production of coking coal decreased, and the inventory decreased [50]. - Demand: The demand for coking coal decreased slightly [50]. - Inventory: The total inventory of coking coal decreased [50]. - View: Coking coal prices are expected to rebound, and it is recommended to go long on the 2601 contract at low prices [51]. Coke - Futures and spot: The coke futures rebounded, and the spot price of the factory was stable while the port price declined [54]. - Profit: The average profit per ton of coke for independent coking plants was negative [53]. - Supply: The production of coke decreased slightly [53]. - Demand: The demand for coke decreased slightly [53]. - Inventory: The total inventory of coke decreased [53]. - View: Coke prices are expected to rebound, and it is recommended to go long on the 2601 contract at low prices [54]. Commodity Futures - Agricultural Products Meal - Spot market: The price of domestic meal increased, and the trading volume of soybean meal increased [55]. - Fundamental news: The export sales report of US soybeans was postponed, and the export of Brazilian soybeans was expected to increase [55][56]. - Market outlook: The price of domestic meal is suppressed by supply pressure, and the M2601 contract is expected to fluctuate within a range [57]. Live Pigs - Spot situation: The price of live pigs declined [58]. - Market data: The profit of live pig breeding decreased, and the utilization rate of secondary fattening pens declined [58]. - Market outlook: The price of live pigs is under pressure, and it is recommended to go short on the futures at high prices and conduct reverse arbitrage on relevant contracts [59].