【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容的准确性、可靠性或完整性提供任何明 示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱：news_center@staff.hexun.com 格隆汇11月21日｜百亿大佬林园近日称：我们公司的策略，仍然集中在那些和消费相关、与"嘴巴经济"相关的企业。它们的特点很清晰：产品有保质期，不 需要巨额投入来维持增长；一旦产能过多，市场很快就会自我调整，不像、高速公路这种固定资产，一旦投下去就很难纠正。说得简单一点，房子盖多了， 你没法凭空造个人进去住；路修多了，它的亏损就是亏损。但食品、消费这些行业则不同，供需的调整更快，市场纠错能力更强，也是我们认为在当下更容 易把握的方向。 | 上证指数 | 深证成指 | 北证5( | | --- | --- | --- | | 3834.89 | 12538.07 | 1377.3 | | -96.16 -2.45% -442.75 -3.41% -68.14 -4 | | | | 科创50 | 创业板指 | 万得全/ | | 1285.83 | 2920.08 | ...

天眼查App显示，近日，东莞市大岭山纯氢源商贸店（个体工商户）成立，注册资本1万人民币，经营 范围为一般项目：食品销售（仅销售预包装食品）；食品用塑料包装容器工具制品销售；日用百货销 售；日用品销售；直饮水设备销售。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动） 许可项目：现制现售饮用水。（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经营 项目以相关部门批准文件或许可证件为准）。 ...

Core Insights - The 2025 Wuhan Commodity Trade Fair (Hanjiao Fair) opened on October 20, showcasing over 3,000 domestic and international enterprises from around 50 countries and regions, highlighting Wuhan's growing influence as a trade bridge for Hubei province [1][4] - The fair features a total exhibition area of 190,000 square meters, the largest in its history, covering key sectors such as artificial intelligence, low-altitude economy, future industries, and high-end manufacturing [1][4] Exhibition Highlights - The main exhibition area focuses on three major fields: commodity trade, digital trade, and service trade, attracting 165 high-quality enterprises, three times the number from the previous year, with 60% from foreign trade and innovative consumption sectors and 40% from digital economy and trade [4] - Nine market exhibition areas emphasize "full industry chain linkage and full scene service," connecting over 1,000 exhibitors, 3,000 buyers, and more than 100 industry associations, covering various sectors including pharmaceuticals, automotive, textiles, and cultural products [4] New Comparative Advantages - Experts at the 2025 Wuhan International Supply Chain Cooperation Forum discussed the structural changes in the international economic and trade environment, emphasizing the new characteristics of localization, regionalization, and friend-shoring in industrial chain layouts [5] - Wuhan's advantages have evolved beyond traditional geographic and labor cost benefits to a new comparative advantage based on high-level factor endowments, enhancing its role as a key node in international resource allocation [5] Supply Chain Development - The Wuhan Municipal Bureau of Commerce aims to create an efficient and comprehensive supply chain system to promote bilateral openness and industrial upgrades, extending the production process to a full chain from R&D to overseas services [6] - The Kenyan Ambassador to China highlighted Wuhan's strategic position as a "super interface" for global connections, emphasizing the importance of an efficient supply chain for deepening cooperation between Kenya and China [6] Trade Agreements - During the exchange event, eight trade projects were signed, with a total contract value of nearly 3 billion yuan, showcasing diverse cooperation, innovative business models, regional collaboration, and complementary supply chains [7]

Market Overview - The A-share market experienced a significant decline, with the Shanghai Composite Index dropping by 2.45%, the Shenzhen Component Index falling by 3.41%, and the ChiNext Index decreasing by 4.02% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.9657 trillion [1] Sector Performance - The media sector showed resilience, with specific ETFs such as Media ETF (159805) and Media ETF (512980) leading the gains [2] - Conversely, rare metals and new energy-related ETFs faced notable declines, with the top 10 ETFs in this category experiencing drops of up to 7.55% [3] Economic Outlook - According to Zheshang Securities, 2026 is expected to be a year of strong economic performance in China, with a focus on technological self-reliance and new productivity cultivation [2] - Shenwan Hongyuan anticipates that the "15th Five-Year Plan" period will be a critical time for comprehensive reform, with nominal GDP recovery expected to improve corporate profitability [2] Lithium Battery Sector - Dongwu Securities predicts that the lithium battery sector will exceed expectations in Q4, with a projected growth rate of 25-30% for 2026 [4] - The sector is expected to see a 10-20% increase in production in Q4, with a year-on-year growth of 30% [4] ETF Activity - The Silver Hua Daily ETF (511880) recorded the highest trading volume at 21.2 billion, followed by other ETFs such as Short-term Bond ETF (511360) and Huabao Tianyi ETF (511990) [5] - The turnover rate for the Korean Semiconductor ETF (513310) was the highest at 108% [5] Upcoming ETF Launches - Two new ETFs are set to launch next week, including the Food ETF (563850), which tracks the CSI All Food Index, and the Bosera Industrial Software ETF (159108), focusing on industrial digital transformation [6][7] - The E Fund Hang Seng Automotive ETF (159121) will also launch, targeting the recovery of the Hong Kong automotive sector and opportunities in new energy vehicles [7]

天眼查App显示，近日，汕尾市大良食品有限公司成立，法定代表人为范映臻，注册资本6万人民币， 经营范围为许可项目：食品销售；食品互联网销售；食品小作坊经营；餐饮服务；酒类经营。（依法须 经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为 准）一般项目：食品销售（仅销售预包装食品）；食品互联网销售（仅销售预包装食品）；保健食品 （预包装）销售；互联网销售（除销售需要许可的商品）；外卖递送服务；食用农产品批发；食用农产 品初加工；食用农产品零售；农副产品销售；初级农产品收购；未经加工的坚果、干果销售；食品添加 剂销售；食品进出口；日用百货销售；日用品销售；技术服务、技术开发、技术咨询、技术交流、技术 转让、技术推广；国内贸易代理。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

天眼查App显示，近日，武陟县优翰食品有限公司成立，法定代表人为张朝，注册资本10万人民币，经 营范围为一般项目：食品销售（仅销售预包装食品）；食品互联网销售（仅销售预包装食品）；保健食 品（预包装）销售；日用百货销售；农副产品销售；互联网销售（除销售需要许可的商品）；网络技术 服务（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

1.谈"热门"赛道：迟早要面对惨烈竞争 人工智能、生物科技、新能源等领域，随着时间推移，迟早也会走到产能扩张、竞争加剧的那一步，这 是市场规律，只是早晚的问题。 新行业，我承认它们的方向肯定没问题，未来也会产生机会。但从投资角度，我更关注这些企业能否真 正跑出确定性的盈利和生存能力。 它们大多是高投入的行业，烧钱快，周期长，一旦风向发生变化，或者长期不盈利，投资者的信心就会 被彻底打散。这种行业更多靠钱堆，而不是靠确定性的利润支撑。 你去翻那些代表"创新"的指数基金，里面的企业未来十年真正能活下来的，有多少？我心里是有数的。 2.谈"老赛道"：估值已在难得的位置 （原标题：林园重磅发声：当下，我只敢买这两类"保命"资产） 11月20日下午，百亿私募大佬林园公开发声，他直言：在全市场追逐科技热点的当下，他投资最底层的 核心是生存与盈利。 以下是林园最新观点的精华浓缩： 我们未来主要找两类企业：能让人快乐的和能让人活得更长的。 老祖宗说得好，人活一世，吃喝二字。吃喝是永恒需求。与此同时，人还希望活得更长、活得更好。 食品、消费这些行业的供需调整的更快，市场纠错能力更强。它们不需要巨额投入来维持增长；一旦产 能过多 ...

Core Insights - The event "I am doing well in Zhuhai" showcased 18 entrepreneurs from various sectors, including AI, low-altitude economy, biomedicine, new energy, and rural revitalization, highlighting their journeys and achievements in Zhuhai [1][3] - The event aimed to promote an innovative entrepreneurial atmosphere in Zhuhai, emphasizing the city's commitment to attracting global talent and fostering a high-level talent hub in the Guangdong-Hong Kong-Macao Greater Bay Area [1][3] Group 1: Event Overview - The event featured artistic performances intertwined with entrepreneurial stories, emphasizing the themes of "dreams, hard work, and achieving dreams" [3] - Original sand painting and various performances illustrated the entrepreneurial spirit and the historical development of Zhuhai over 45 years [3][4] - The event included messages from established entrepreneurs, creating a dialogue between generations and reinforcing the entrepreneurial spirit of the special economic zone [3][4] Group 2: Entrepreneurial Landscape - As of October this year, Zhuhai and the Hengqin Guangdong-Macao Deep Cooperation Zone have over 460,000 operating entities and more than 240,000 individual businesses [4] - The "Zhuhai City Innovation and Entrepreneurship Team Service Management Measures" has supported over 80 innovation and entrepreneurship teams since its implementation in 2021, with nearly 900 million yuan in funding [4] Group 3: Entrepreneur Stories - Entrepreneurs from diverse backgrounds have found success in Zhuhai, such as Lei Zhen from Najin Technology, who has developed a unique position in the nano-silver component market [6] - Italian entrepreneur Mattia has established a significant presence in the Italian food sector in China, attributing his success to Zhuhai's strategic location and efficient public services [6] - Other notable entrepreneurs include Zhu Qizheng in the low-altitude economy, Li Yongshan in sports and agriculture, and veteran Wu Hao in poultry farming, showcasing the diverse entrepreneurial spirit in Zhuhai [7]

Group 1: Automotive Industry Employment Trends - The employment in the German automotive industry decreased by approximately 48,700 people year-on-year as of September 2025, marking a decline of 6.3%, with total employees dropping to 721,400, the lowest since Q2 2011 [1] - The automotive industry experienced the largest year-on-year employment decline among major industrial sectors with over 200,000 employees, despite remaining the second-largest industrial sector in Germany after mechanical engineering [1] - Within the automotive sector, suppliers faced significant layoffs, with employment in the automotive and engine manufacturing sector totaling 446,800, a year-on-year decrease of 3.8% [1] Group 2: Supplier Impact and Employment Statistics - Employment in the body, chassis, and trailer manufacturing sector saw a decline of 4.0%, with approximately 39,200 employees, while the automotive parts and accessories manufacturing sector experienced an 11.1% decrease, totaling around 235,400 employees [1] - Economists noted that the layoffs among suppliers were more pronounced than those among vehicle manufacturers, which is typical during economic downturns as manufacturers often shift cost pressures onto suppliers [1] Group 3: Broader Industrial Employment Trends - Other major industrial sectors in Germany also experienced varying degrees of layoffs, with the metal smelting and processing industry seeing a 5.4% year-on-year decline, and the data processing equipment, electronics, and optical products manufacturing sector declining by 3.0% [2] - The plastics and metal manufacturing industries also reported declines of 2.6% and 2.5%, respectively, both exceeding the average industrial decline [2] - Overall, German manufacturing employment totaled approximately 5.43 million as of September, reflecting a year-on-year decrease of 120,300, or 2.2% [3]

天眼查App显示，近日，江苏贝瑞得食品有限公司成立，法定代表人为丁小坚，注册资本1000万人民 币，经营范围为许可项目：食品销售；食品生产；食品添加剂生产；调味品生产（依法须经批准的项 目，经相关部门批准后方可开展经营活动，具体经营项目以审批结果为准）一般项目：食品销售（仅销 售预包装食品）；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；企业管理咨询； 国内贸易代理；食用农产品批发；食品添加剂销售；农副产品销售；技术进出口；货物进出口；租赁服 务（不含许可类租赁服务）；互联网销售（除销售需要许可的商品）（除依法须经批准的项目外，凭营 业执照依法自主开展经营活动）。 ...