Group 1 - The U.S. added 119,000 jobs in September, exceeding expectations of 50,000, marking the largest increase since April [1] - The unemployment rate rose to 4.4%, higher than the expected 4.3%, with the previous value also at 4.3% [1] - Average hourly wage growth year-over-year was recorded at 3.8%, above the expected 3.7%, while the month-over-month growth was 0.2%, below the expected 0.3% [1] Group 2 - The healthcare sector added 43,000 jobs, with outpatient services contributing 23,000 and hospitals adding 16,000 jobs [3] - The restaurant and drinking places sector also saw significant hiring, adding 37,000 jobs [3] - Federal government employment decreased by 3,000, totaling a reduction of 97,000 jobs since January [3] Group 3 - The manufacturing sector experienced a decline of 6,000 jobs in September, continuing a concerning trend [3] - Analysts express concerns over the slowdown in wage growth, which may lead to a deceleration in overall labor income [3] - The expectation remains that the Federal Reserve will pause any rate cuts in December, despite increased bets on potential cuts [4]

Core Points - The national medical insurance imaging cloud cross-province retrieval officially launched on November 20, aiming to eliminate repeated examinations for patients and facilitate access to medical imaging data across different hospitals [1][2] Group 1: Benefits of Medical Imaging Cloud - The medical imaging cloud addresses the pain points of patients by reducing the frequency of repeated examinations, which has been a significant issue in cross-province medical services, with over 650 million direct settlements during the 14th Five-Year Plan period [2] - The integration of personal health data allows for a comprehensive medical history, enhancing personalized health management and improving diagnostic accuracy by providing doctors with access to historical imaging data [2] - The cloud-based system is expected to significantly reduce misdiagnosis and missed diagnoses, as it offers a vast pool of standardized data for AI-assisted diagnostics, improving the quality of medical services [2] Group 2: Challenges and Resistance - Concerns have been raised regarding the potential resistance from medical institutions due to the impact on revenue from imaging fees, which are a significant source of income for hospitals [3] - The national medical insurance bureau estimates that the unified platform could save approximately 80 billion yuan annually by reducing redundant examinations and physical film costs, which could be redirected towards medical innovation and digital technology reforms [3] Group 3: Information Security - Patient data security is a priority, with strict authorization protocols in place for accessing imaging data from other medical institutions, ensuring that patient consent is obtained before any data retrieval [4] - The medical insurance information platform maintains high security standards to protect patient information, and future measures will further enhance data protection [4] Group 4: Future Scope of Cross-Province Retrieval - The goal is to establish a nationwide medical insurance imaging cloud by the end of 2027, which will enable access to imaging data wherever there is medical insurance coverage [5] - The national medical insurance bureau has developed a unified indexing system for imaging data, allowing for efficient storage and retrieval across over 1 million designated medical institutions, covering more than 1.3 billion insured individuals [5] - The medical insurance cloud has already indexed 170 million imaging records, demonstrating the feasibility and effectiveness of this model [5]

Core Points - The National Medical Insurance Administration (NMIA) launched a nationwide medical insurance imaging cloud for cross-province retrieval, allowing patients' digital imaging data to be uploaded to a recognized storage center for easy access across regions and institutions [1][3][4] - As of November 20, the NMIA has collected over 170 million medical insurance imaging index records [2] - The initiative aims to address the issue of repeated medical examinations when patients seek care in different hospitals, especially across provinces, thereby improving patient experience and reducing unnecessary costs [3][4] Group 1 - The NMIA is focused on resolving challenges related to the accessibility and sharing of imaging data, including difficulties in finding data, high costs, and slow retrieval processes [3][4] - By the end of 2027, the NMIA aims to establish a unified national medical insurance imaging cloud network [4][5] - The Beijing University Third Hospital (Peking University Third Hospital) has already implemented five cross-province retrieval routes, enabling access to imaging data from various regions [3][5] Group 2 - As of November 18, 24 provinces and the Xinjiang Production and Construction Corps have completed the deployment of medical insurance imaging cloud software, enabling cross-province retrieval capabilities [7] - The NMIA has initiated a centralized procurement model for cloud imaging services, which will not increase the financial burden on local governments [5][6] - The Peking University Third Hospital has enhanced its information system to support cross-regional imaging retrieval and is working on improving user experience and data security [8]

Core Viewpoint - Corning Hospital (02120) announced a share buyback plan, intending to repurchase 11,200 shares at a total cost of HKD 127,000 by November 20, 2025 [1] Summary by Category - **Company Actions** - Corning Hospital plans to spend HKD 127,000 to buy back 11,200 shares [1]

证券之星消息，截至2025年11月20日收盘，通策医疗(600763)报收于43.22元，下跌1.28%，换手率 0.89%，成交量3.99万手，成交额1.74亿元。 11月20日的资金流向数据方面，主力资金净流出1974.79万元，占总成交额11.38%，游资资金净流出 48.71万元，占总成交额0.28%，散户资金净流入2023.5万元，占总成交额11.66%。 资金流向名词解释：指通过价格变化反推资金流向。股价处于上升状态时主动性买单形成的成交额是推 动股价上涨的力量，这部分成交额被定义为资金流入，股价处于下跌状态时主动性卖单产生的的成交额 是推动股价下跌的力量，这部分成交额被定义为资金流出。当天两者的差额即是当天两种力量相抵之后 近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净占比 散户净流入 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-11-20 | 43.22 | -1.28% | -1974.79万 | -11.38% | -48. ...

合富中国公告，公司股价累计涨幅已严重偏离基本面，投资者参与交易可能面临较大风险。如公司股价 进一步异常上涨，公司可能申请停牌核查。自2025年10月28日至2025年11月20日，公司股票有十三个交 易日以涨停价收盘，并5次触及股价异常波动、3次触及严重异常波动情形，期间累计涨幅高达 291.92%。截至11月20日收盘，公司股价为26.18元/股，处于历史最高位，换手率达24.46%。股价短期 内连续上涨，存在市场情绪过热、非理性炒作风险，已明显高于同期行业及上证指数涨幅，且严重显著 偏离公司基本面，随时存在快速下跌风险。 ...

编号：2025-003 投 资 者 关 系 活 动 类 别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 ■其他（2025 年度深圳辖区上市公司投资者网上集体接待日活动） 参 与 单 位 名 称 及 人 员姓名 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net）参与"2025 年度深圳辖区上市公司投资者网上集体接待日活动"的投资者 时间 2025 年 11 月 20 日 14:30-17:00 地点 全景路演（https://ir.p5w.net） 上 市 公 司 接 待 人 员 姓名 董事长、总经理：梁桂秋 副总经理、董事会秘书：林立 财务总监：游泳 独立董事：曾江虹 投 资 者 关 系 活 动 主 要 内 容 介 绍 本次投资者网上集体接待日活动采用网络远程的方式举行，主要问答内 容如下： 1、请问海外业务的毛利为什么年年下滑？ 您好，感谢您对公司的关注！受进出口关税变动及运输成本增加所致。 谢谢！ 2、董事长好，我是公司小微股民，请问一下，公司的未来五年规划是怎 么安排的？另外，我国已经进入老年化社会，公司在设计，建设，配套医疗 ...

Market Overview - The medical services sector declined by 0.93% on November 20, with Bei Rui Gene leading the drop [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Stock Performance - Notable gainers included: - Bid Medicine (688073) with a closing price of 76.14, up 5.34% [1] - Sunshine Nuohe (688621) at 58.59, up 2.59% [1] - Pukos (301257) at 44.85, up 1.36% [1] - Major decliners included: - Bei Rui Gene (000710) at 12.69, down 9.10% [2] - Chengda Pharmaceutical (301201) at 53.04, down 7.76% [2] - Weimenfei (301509) at 34.39, down 5.78% [2] Capital Flow - The medical services sector experienced a net outflow of 1.145 billion yuan from institutional investors, while retail investors saw a net inflow of 990 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors increased their positions [2] Individual Stock Capital Flow - Notable capital flows for specific stocks included: - Wu Medicine (603259) with a net inflow of 63.84 million yuan from institutional investors [3] - Sunshine Nuohe (688621) saw a net inflow of 7.25 million yuan from institutional investors [3] - Bid Medicine (688073) had a net inflow of 2.46 million yuan from institutional investors [3]

Market Overview - A-shares opened high but fell sharply towards the end of the trading session, with the ChiNext and Sci-Tech 50 indices dropping over 1% [1][2] - The Shanghai Composite Index closed down 0.4% at 3931.05 points, while the Shenzhen Component Index fell 0.76% to 12980.82 points [2] - Total trading volume in the Shanghai, Shenzhen, and Beijing markets was 172.27 billion yuan, a decrease of approximately 20 billion yuan from the previous day [2] Banking Sector Performance - The banking sector showed strong performance, with China Bank rising 4% to reach a historical high, and other banks like Construction Bank and Postal Savings Bank increasing over 3% [3][4] - The rise in China Bank's stock price is attributed to the overall upward trend in the banking sector and stable operational data from its Q3 report [4] - Guosen Securities noted that the recent rally in the banking sector is driven by a shift in market investment style, with mid-term dividends acting as a catalyst [5] Notable Stock Movements - Jiuzhou King experienced significant volatility, initially hitting the daily limit before a rapid decline, ultimately closing at a limit-up price of 18.41 yuan per share with a trading volume of 1.66 billion yuan [6][7] - The company warned of potential risks associated with market sentiment and high speculation, reporting a revenue decline of 6.02% year-on-year for the first nine months of 2025 [10] - Hefo China, which resumed trading, also hit the daily limit, closing at 26.18 yuan per share, with a cumulative increase of approximately 292% over the past 15 trading days [11][12]

Core Viewpoint - The report from Western Securities indicates that Aier Eye Hospital's net profit attributable to shareholders for Q1-Q3 2025 is 3.115 billion yuan, a year-on-year decrease of 9.76%, with Q3 net profit at 1.064 billion yuan, down 24.12% [1] Financial Performance - The gross profit margin for Aier Eye Hospital stands at 50.65% [1] - The overseas market shows steady growth, with 169 eye centers and clinics established globally as of June 30, 2025 [1] Strategic Developments - The company has acquired three medical institutions: Tongren Aier, Taojiang Aier, and Mudanjiang Aier, enhancing its competitive edge through synergy and scale effects [1] - Aier Eye Hospital is actively promoting the allocation of quality medical resources in line with the national "graded diagnosis and treatment" policy [1] Investment Rating - The report maintains an "overweight" rating for Aier Eye Hospital [1]