Core Viewpoint - The Invesco Great Wall CSI National New Hong Kong Stock Connect Central Enterprise Dividend ETF (520990) has shown significant growth in both share volume and fund size in 2024, indicating strong investor interest and performance [1][2]. Fund Overview - The fund was established on June 26, 2024, with an annual management fee of 0.50% and a custody fee of 0.10% [1]. - As of November 18, 2024, the fund's total shares reached 5.43 billion, with a total size of 5.82 billion yuan [1]. - Year-to-date, the fund's shares have increased by 44.95%, and its size has grown by 66.17% [1]. Liquidity Analysis - Over the last 20 trading days, the ETF has accumulated a total trading volume of 3.91 billion yuan, averaging 195 million yuan per day [1]. - For the year, the ETF has recorded a total trading volume of 28.26 billion yuan over 213 trading days, averaging 133 million yuan per day [1]. Fund Management - The current fund managers are Gong Lili and Wang Yang, with returns of 26.19% and 11.64% respectively during their management periods [2]. Top Holdings - The ETF's major holdings include: - China Petroleum & Chemical Corporation (10.88%) - China Mobile Limited (10.33%) - China Shenhua Energy Company (9.72%) - CNOOC Limited (9.54%) - COSCO Shipping Holdings (8.43%) - China Petroleum & Chemical Corporation (7.42%) - China Telecom Corporation (4.54%) - China Unicom (3.45%) - China Coal Energy Company (2.59%) - China Resources Land (2.23%) [2][3].

Core Points - The event held by the International Liaison Department of the CPC aimed to explain the spirit of the 20th Central Committee's Fourth Plenary Session, focusing on China's reform measures and future investment opportunities for foreign enterprises in China [1][4][5]. Group 1: Economic Outlook - China's economic resilience was highlighted, with an average growth rate of 5.5% during the first four years of the 14th Five-Year Plan, and GDP expected to reach approximately 140 trillion yuan by the end of the year [5][7]. - The contribution rate of China to the global economy has consistently remained around 30% [5]. Group 2: Investment Opportunities - Key themes such as "trade innovation," "green transformation," and "high-level opening-up" were emphasized as areas of potential investment for foreign enterprises over the next five years [1][4]. - The event attracted over 160 representatives from more than 30 countries, indicating strong interest in China's market and investment landscape [4]. Group 3: Policy and Cooperation - The Chinese government aims to expand institutional openness, maintain a multilateral trade system, and promote trade innovation and bilateral investment cooperation [7][9]. - Experts discussed the importance of a modern industrial system, which offers foreign enterprises broader and deeper cooperation opportunities, particularly in high-end manufacturing, green low-carbon, and digital economy sectors [9][10]. Group 4: Innovation and Technology - China's R&D investment as a percentage of GDP has increased to 2.68%, narrowing the gap with the U.S. in total R&D investment [9]. - The unique scale of China's market is seen as a core competitive advantage for innovation, allowing for simultaneous development of various technological routes [9]. Group 5: Service Sector Opening - China plans to continue expanding its service sector, particularly in telecommunications, technology, healthcare, finance, and education, through platforms like free trade zones [10][11]. - The government encourages foreign investment in healthcare, which aligns with the "Healthy China" initiative, showcasing a commitment to mutual benefits [11].

今年，印度股市迎来了一场不小的资本"大逃亡"。 外国投资者一口气从这里撤走了超170亿美金，这个数字创下了多年来的新低。 要知道去年同期，这些资本还在往印度跑，净流入足足有200亿美金，一进一出的反差，让印度成了亚 洲外资流出最严重的市场。 资本这东西从来都是"嫌贫爱富"还怕风险，哪里安稳有赚头就往哪里去。 这次从印度撤资的主力，都是些有头有脸的角色。 7月以来，美国、卢森堡、日本的基金撤得最凶，这些全球知名的投资机构，按理说最懂市场风向。 他们集体用脚投票，背后肯定不是一时兴起。 全球新兴市场里，资金的流向变化更能说明问题。 以前不少基金还愿意给印度留点位置，现在配置比例已经降了不少。 反观中国，份额一路飙升，成了全球资本眼里的香饽饽。 这种鲜明的对比，可不是偶然发生的，里面藏着的门道值得好好说道。 外资用脚投票：印度为啥留不住钱？ 印度曾经也是资本眼里的"潜力股"，为啥现在就不招人待见了？最核心的问题还是地缘上的套利空间没 了。 以前中美博弈紧张的时候，不少资本觉得印度能当个"平衡者"，想借着印度替代中国部分产业，还能配 合美国的对华政策赚点差价。 可后来中美关系慢慢缓和了，印度这个"平衡者"的价值一下子 ...

会议强调，要深入贯彻落实党的二十届四中全会精神，科学规划"十五五"时期中央企业人才工作，牢牢 把握"十五五"中央企业人才工作新形势新任务新要求，做到人才规划要适度超前、投资于人要优先安 排、人才结构要优化提质、体制机制要赋能增效。要改进人才教育培养体系，积极拓展人才自主培养渠 道，实施好管理人才领航培养工程、科技人才星耀培养工程、技能人才优基培养工程，全面深化人才发 展体制机制改革，强化对人才政治引领和组织关怀，营造识才爱才敬才用才的良好环境，持续加强党对 国资央企人才工作的全面领导，不断开创人才工作新局面，更好服务推动中央企业高质量发展。会上， 来自中国海油、中国电子的2名获奖代表，航天科技、中国电信、中广核等3家中央企业负责同志作了交 流发言。 ...

Group 1 - GQG Partners increased its stake in five Adani Group companies, including Adani Energy Solutions and Adani Enterprises, through block deals exceeding ₹4,500 crore [1] - The investment firm also established new positions in GMR Airports and other significant Indian corporations such as Bharti Airtel and State Bank of India [1]

Financial Data and Key Metrics Changes - KULR Technology Group reported approximately $6.9 million in revenue for Q3 2025, representing a 116% year-over-year growth and a 75% sequential increase from the previous quarter [4][23] - The company achieved a new trailing 12-month revenue record of $16.7 million, marking the fifth consecutive quarter of revenue growth compared to the prior year [23] - Product revenue grew by 112%, while services revenue declined by 74%, indicating a strategic shift towards a product-driven business model [23] Business Line Data and Key Metrics Changes - The transition from services to product revenue is evident, with product revenue more than doubling [4] - The launch of KULR One Air has resulted in over 150 battery SKUs, positioning the company in a rapidly growing market segment [5][11] Market Data and Key Metrics Changes - The UAV and drone battery market is projected to grow from approximately $1.5 billion in 2025 to over $2.4 billion by 2030, driven by increased adoption in various sectors [12] - KULR is expanding its KULR One platform into AI data centers and telecom infrastructure, tapping into some of the fastest-growing energy markets globally [5][14] Company Strategy and Development Direction - KULR aims to grow its energy storage and management business tenfold over the next three years, supported by a strong financial foundation and strategic investments [5] - The company plans to expand its Texas headquarters to over 100,000 sq ft and scale production significantly to meet rising demand [6][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering a super growth cycle as demand surges for advanced energy storage solutions across core markets [8] - The company is well-positioned to capitalize on the increasing demand for high-performance energy systems, particularly in the context of AI and telecom infrastructure [9][10] Other Important Information - KULR holds approximately $120 million in Bitcoin, reflecting a disciplined approach to its digital asset strategy [26][34] - The company has no debt and a strong cash position, allowing it to navigate market volatility effectively [34] Q&A Session Summary Question: What is KULR's strategic priorities today as a Bitcoin treasury company with operations? - KULR's priorities are focused on its core energy management and storage business, alongside vibration reduction technologies, both of which are expected to drive strong revenue growth for 2026 [27] Question: What is the long-term strategy for the Bitcoin treasury and mining operations? - The company believes in a favorable long-term pricing outlook for Bitcoin and has shifted to growing its position through mining, which also aligns with its energy storage solutions [29] Question: What outcomes have been achieved in terms of institutional participation and market perception since the reverse split? - Since the reverse split in June 2023, institutional ownership has more than doubled, and there are no plans for another reverse split [30] Question: Can management provide updates on partnerships with government, military, aerospace, and corporate sectors? - KULR is making steady progress on partnerships, which involve multi-stage qualification and certification processes, and these engagements are crucial for establishing long-term pathways for product integration [31] Question: What concrete steps is management taking to stabilize the stock price? - The primary focus is on accelerating revenue growth in core markets, with significant traction in autonomous systems and energy storage solutions [33]

当天公布的新增投资主要面向能源与环境、数字技术、医疗健康、化学与新材料等领域。其中规模最大 的一项投资来自法国电信运营商奥普科雷公司，该公司拟投入近40亿欧元，在塞纳-马恩省原法国电力 公司发电厂旧址建设数据中心。 （文章来源：新华社） 法国自2018年以来每年举办"选择法国"国际商务峰会，旨在吸引投资、创造就业。此次"法国版"峰会旨 在表彰在法国生产、创新和创造就业岗位的法国企业。 峰会吸引约200家法国企业及相关行业协会、工会和雇主组织参加，涉及能源、农产品、医疗保健、化 工、航空航天等领域。含新增的92亿欧元投资决定在内，上述企业今年在法国境内投资将达到151项， 总金额将达304亿欧元。 新华财经巴黎11月18日电（记者崔可欣）法国经济与财政部17日在巴黎举行的首届"法国版""选择法 国"峰会上宣布，法国企业将在本土新增投资92亿欧元，重点布局数据中心等领域。 ...

Group 1 - The French government announced that domestic companies will invest an additional €9.2 billion, focusing on sectors such as data centers [1] - The "Choose France" summit aims to attract investment and create jobs, with the event being held annually since 2018 [1] - Approximately 200 French companies and related industry associations participated in the summit, covering sectors like energy, agriculture, healthcare, chemicals, and aerospace [1] Group 2 - The total investment in France for the year is projected to reach €30.4 billion, with 151 investment projects planned [1] - The new investments are primarily directed towards energy and environment, digital technology, healthcare, and chemicals and new materials [1] - The largest single investment comes from the French telecom operator, Opticore, which plans to invest nearly €4 billion to build a data center on the site of a former power plant in Seine-et-Marne [1]

Group 1 - The Hong Kong and A-shares market experienced a deepening decline, with the Hang Seng Technology Index falling by 1.86% and the Hang Seng Internet ETF down by 0.56% as of the report time [1] - Recent market conditions have seen a surge in risk aversion, with a comprehensive sell-off in the US market, leading to the S&P 500 and Nasdaq both falling below their 50-day moving averages [1] - The Hang Seng Internet ETF has seen a continuous inflow of funds for 13 days, accumulating 1.66 billion yuan in the last two days, indicating strong investor interest in internet stocks [1] Group 2 - The Free Cash Flow ETF, which is noted for its low fees, declined by 1.66% and currently has a total size of 6.656 billion yuan, making it the largest in its category [2] - Key holdings in the Free Cash Flow ETF include China National Offshore Oil Corporation, SAIC Motor, Shaanxi Coal and Chemical Industry, and Gree Electric Appliances [2]

监管方指出，整合后市场将由两大运营商主导，存在通过捆绑销售排挤小型竞争者的风险，因此禁 止整合方采用相关策略，并要求其竞争重点集中在主导运营商Claro，而非削弱小型运营商。监管机构 还警告，在82个仅由Tigo和Movistar竞争的市镇，合并可能带来涨价和服务质量下降，整合后的企业不 得在当地提高资费或降低服务水平。鉴于Movistar在光纤网络企业On Net持股可能影响其他运营商接 入，监管方亦要求设立严格的信息隔离机制，并取消整合方在该公司的否决权。通信监管委员会则指 出，移动网络批发市场已高度集中，整合可能推高资费并增加协调行为风险，正推进批发补偿机制、用 户保护及本地连接框架改革。业内对合并评价不一，有专家担忧市场集中度进一步提高，也有意见认为 影响取决于后续监管执行力度。 据哥伦比亚《观察家报》11月14日报道，哥工商监管署已批准哥两大电信巨头Tigo与Movistar的合 并，但附加多项限制以防市场竞争受损。 （原标题：哥伦比亚两大电信公司将合并） ...