Group 1 - China Merchants Bank reported a net profit of 148.39 billion yuan for 2024, a year-on-year increase of 1.22%, with a proposed cash dividend of 2 yuan per share [1] - China Telecom announced a net profit of 33.01 billion yuan for 2024, reflecting an 8.4% year-on-year growth, with a proposed final dividend of 0.0927 yuan per share [2] - Double J Electric signed significant contracts worth 1.555 billion yuan, accounting for 44.35% of its audited revenue for 2023, which is expected to positively impact future performance [3] Group 2 - Yongding Co. clarified that it does not directly manufacture controllable nuclear fusion devices, and its related products will not significantly impact its financial performance [4] - Heng Rui Pharmaceutical entered a licensing agreement with Merck, potentially earning up to 1.77 billion USD in milestone payments [5] - Ruishun Technology plans to use 90 million yen (approximately 4.34 million yuan) of raised funds to acquire assets related to a high-precision parallel robot project from Panasonic [6] Group 3 - Dalian Heavy Industry expects a net profit of 160 million to 195 million yuan for Q1 2025, a year-on-year increase of 12.22% to 36.77%, driven by a projected revenue of around 3.5 billion yuan [9] - Rongsheng Development is planning to restructure its debts by consolidating assets and enhancing its operational capabilities [10] - Yunnan Copper's net profit for 2024 is projected to decline by 19.9%, with a proposed cash dividend of 2.4 yuan per share [11] Group 4 - Lianrui New Materials reported a net profit of 251 million yuan for 2024, a year-on-year increase of 44.47%, with a proposed stock dividend of 3 shares for every 10 shares held [11] - Yuan Zu Co. announced a net profit of 249 million yuan for 2024, a decrease of 9.98%, with a proposed cash dividend of 10 yuan per 10 shares [12] - Double Happiness Development reported a net profit of 4.989 billion yuan for 2024, a decrease of 1.26%, with a proposed cash dividend of 7.5 yuan per 10 shares [13] Group 5 - Morning Light Co. reported a net profit of 1.396 billion yuan for 2024, a decrease of 8.58%, with a proposed cash dividend of 10 yuan per 10 shares [14] - Ningbo Ocean's net profit for 2024 was 550 million yuan, reflecting a year-on-year growth of 9.86% [15] - Xinyue Kanglv reported a net profit of approximately 86.3 million yuan for 2024, a decrease of 42.2% [16] Group 6 - Zhongjian Technology expects a net profit of 100 million to 114 million yuan for Q1 2025, a year-on-year increase of 68.79% to 92.42% [17] - Kuaiyi Elevator reported a net profit of 132 million yuan for 2024, a decrease of 8.46%, with a proposed cash dividend of 3.6 yuan per 10 shares [18] - Rongsheng Environmental Protection reported a net profit of 286 million yuan for 2024, an increase of 5.79%, with a proposed cash dividend of 5 yuan per 10 shares [19] Group 7 - Minfeng Special Paper reported a net profit of 72 million yuan for 2024, an increase of 54.09%, with a proposed cash dividend of 0.17 yuan per 10 shares [20] - Huaiqi Environmental Protection announced that major shareholders plan to reduce their holdings by up to 1% [21] - Guoli Co. plans to repurchase shares worth 30 million to 50 million yuan [22]

Group 1: Company Performance - BYD reported a net profit of 40.254 billion yuan for 2024, representing a year-on-year increase of 34% [1] - The company's operating revenue reached 777.102 billion yuan, up 29.02% compared to the previous year [1] - Satellite Chemical achieved a net profit of 6.072 billion yuan in 2024, marking a 26.77% increase year-on-year [2] Group 2: Dividend Proposals - BYD plans to distribute a cash dividend of 39.74 yuan per 10 shares (tax included) [1] - Satellite Chemical intends to distribute a cash dividend of 5 yuan per 10 shares (tax included) [2] Group 3: Stock Market Activity - Junshen Co. is in the preparatory stage for an overseas transshipment project, which has not yet commenced operations [2] - Zhenhua Heavy Industry's stock price increased by 33.58% over a short period, despite no significant changes in its fundamentals [3] - Yuxing Anchor Chain's stock also experienced a significant price increase, with its main business remaining stable [4] Group 4: Strategic Moves - Taihao Technology plans to acquire a 13.87% stake in Jiangxi Taihao Military Group through a share issuance [7] - Dafeng Industrial signed a strategic cooperation agreement with Shanghai Zhiyuan New Technology Co., aiming to explore innovative applications in entertainment and sports [8]

通化金马（000766）3月24日主力资金净流入 2099.03万元 通化金马最新一期业绩显示，截至2024三季报，公司营业总收入9.69亿元、同比减少7.24%，归属净利 润2392.37万元，同比增长53.84%，扣非净利润1638.78万元，同比增长51.15%，流动比率1.916、速动比 率1.278、资产负债率49.06%。 天眼查商业履历信息显示，通化金马药业集团股份有限公司，成立于1993年，位于通化市，是一家以从 事医药制造业为主的企业。企业注册资本96649.4707万人民币，实缴资本96649.4707万人民币。公司法 定代表人为张玉富。 通过天眼查大数据分析，通化金马药业集团股份有限公司共对外投资了25家企业，参与招投标项目5000 次，知识产权方面有商标信息57条，专利信息35条，此外企业还拥有行政许可180个。 来源：金融界 金融界消息 截至2025年3月24日收盘，通化金马（000766）报收于17.88元，上涨0.11%，换手率 2.07%，成交量20.02万手，成交金额3.54亿元。 资金流向方面，今日主力资金净流入2099.03万元，占比成交额5.92%。其中，超大单净流出9 ...

资金流向方面，今日主力资金净流入8285.63万元，占比成交额9.71%。其中，超大单净流入1377.28万 元、占成交额1.61%，大单净流入6908.36万元、占成交额8.1%，中单净流出流入2085.62万元、占成交 额2.44%，小单净流出10371.25万元、占成交额12.15%。 兴齐眼药（300573）3月24日主力资金净流入 8285.63万元 金融界消息 截至2025年3月24日收盘，兴齐眼药（300573）报收于80.17元，上涨2.73%，换手率8.0%， 成交量10.78万手，成交金额8.53亿元。 天眼查商业履历信息显示，沈阳兴齐眼药股份有限公司，成立于1977年，位于沈阳市，是一家以从事医 药制造业为主的企业。企业注册资本12458.9194万人民币，实缴资本243万人民币。公司法定代表人为 刘继东。 通过天眼查大数据分析，沈阳兴齐眼药股份有限公司共对外投资了9家企业，参与招投标项目3069次， 知识产权方面有商标信息492条，专利信息153条，此外企业还拥有行政许可204个。 来源：金融界 兴齐眼药最新一期业绩显示，截至2024三季报，公司营业总收入14.39亿元、同比增长30. ...

Group 1: Real Estate and Construction - New home prices showed a month-on-month decline of 0.1% across 70 cities, with first-tier cities experiencing a month-on-month increase, particularly Shanghai leading with a year-on-year increase of 5.6% [6][9][42] - The transaction area of new homes increased month-on-month, while the Shenzhen housing fund policy was significantly adjusted to enhance loan limits and support for families with multiple children [42][44] - The report maintains a "positive" rating for the real estate sector, suggesting that improved fiscal and monetary policies will help stabilize the housing market [9][43][44] Group 2: Banking Sector - Non-bank deposits showed a recovery in February, with a positive growth of 19.92 billion yuan, indicating a halt in the outflow trend [11][13] - The report highlights that the banking sector is expected to benefit from a declining cost of liabilities, with recommended stocks including Citic Bank and Agricultural Bank of China [15] - The credit demand remains weak, particularly in retail loans, while corporate loans are primarily driven by bill financing [14][15] Group 3: Machinery and Robotics - The year 2025 is identified as a pivotal year for humanoid robot mass production, with significant capital expenditure expected across the supply chain [17][21] - The report estimates that the market for electric motors used in humanoid robots could reach 25.4 billion yuan with a demand for 62 motors per robot [19] - Key beneficiaries in the machinery sector include companies like Qinchuan Machine Tool and Jizhi Co., which are positioned to capitalize on the growing demand for core components [21] Group 4: Consumer Services - The consumer services sector is experiencing growth driven by high-quality supply in the building block toy market, with a focus on cross-generational appeal [23][24] - The report emphasizes the potential for AI applications in the beauty industry, with significant sales contributions from live-streaming and influencer promotions [25][36] - Recommended stocks in the consumer services sector include Long White Mountain for tourism and various educational and beauty companies [26][37] Group 5: Building Materials - The report indicates a focus on building materials due to government policies aimed at stabilizing the real estate market, with recommendations for companies like Dongfang Yuhong and Weixing New Materials [28][29] - The cement industry is expected to benefit from energy-saving and carbon reduction initiatives, with a target to control cement clinker capacity by 1.8 billion tons by 2025 [29][30] - The building materials index has shown a slight increase, but it has underperformed compared to the broader market indices [30][31] Group 6: Media and AI Applications - The report highlights the growth of AI applications in gaming, with new titles leveraging AI technology for enhanced user interaction [35][36] - The potential for children's literature and toys is expected to rise due to government policies supporting child-rearing, with a focus on companies like Aofei Entertainment [37][38] - Recommended stocks in the media sector include Tencent and NetEase, which are well-positioned to benefit from advancements in AI technology [35][36]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 INNOVATIVE PHARMACEUTICAL BIOTECH LIMITED 領航醫藥及生物科技有限公 司 （於開曼群島註冊成立並於百慕達存續之有限公 司） 訂立代理協議的理由及裨益 （股份代 號：399） 自願公告 代理協議 本公告由領航醫藥及生物科技有限公司（「本公司」，連同其附屬公司統稱「本 集團」）自願作出，以告知本公司股東（「股東」）及潛在投資者本集團的最新業 務發展。 本公司的董事（「董事」）會（「董事會」）欣然宣佈，於二零二五年三月十五日， 本 公 司 的 非 全 資 附 屬 公 司 福 仕 生 物 工 程 有 限 公 司（「附屬公司」）與Terry Bio Pharmaceutical Co., Ltd.（作為代理）（「代理」）訂立代理協議（「代理協議」），據此， 訂約方同意在代理協議的條件達成後第三個營業日起計6年期間，代理將作為 附屬公司的獨家代理，在泰國推銷、分銷、銷售及推廣 ...

Investment Rating - The report recommends a "Buy" rating for companies in the coal mining sector, particularly those focusing on intelligent mining technologies [7][10]. Core Insights - The integration of embodied intelligence in coal mining is expected to drive the industry towards automation and enhance safety by reducing the number of workers underground [8][9]. - The Chinese government is actively promoting the adoption of intelligent mining technologies, with policies aimed at increasing the replacement rate of manual labor with robots in hazardous mining jobs [7][10]. - The coal mining sector is facing challenges such as rising labor costs and safety concerns, which are pushing companies to invest in automation solutions [8][9]. Summary by Sections Mechanical Equipment Industry Review - The report highlights the role of embodied intelligence in transforming coal mining into an automated and safer industry, supported by government policies [7]. - By 2026, the goal is to achieve a 30% replacement rate of manual labor in coal mining with intelligent equipment [7][10]. Pharmaceutical and Biological Industry Weekly Report - The pharmaceutical sector saw a 1.06% increase in the week of March 3 to March 7, 2025, underperforming compared to the CSI 300 index [12]. - The report emphasizes the government's focus on optimizing drug pricing mechanisms and supporting the development of innovative drugs [13][14]. New Energy Power Industry Weekly Report - The report notes a stabilization in the prices of the photovoltaic industry chain, with a focus on the progress of offshore wind projects [15][17]. - The wind power sector is experiencing a recovery in pricing trends, with significant project developments in various provinces [19][20]. Market Data - The report provides various market performance metrics, including the Shanghai Composite Index and sector-specific performance [28][24]. Analyst Recommendations - The report suggests focusing on companies with strong technological capabilities and long-term partnerships in the coal mining sector, particularly Tianma Zhikong and Zhengmei [10]. - In the pharmaceutical sector, it recommends investing in high-quality generic and innovative drug companies [14]. - For the new energy sector, it highlights companies like Fulete and Oriental Cable as key players benefiting from market trends [18][21].

Group 1: New Energy Vehicle Market - In February, China's new energy vehicle sales reached 686,000 units, a year-on-year increase of 79.7%, with a cumulative retail of 1.43 million units in the first two months, growing by 35.5% [1] - The overall retail sales of passenger cars in February were 1.386 million units, a year-on-year increase of 26.0%, while production was 1.736 million units, up 38.7% year-on-year [1] - The penetration rate of new energy vehicles approached 50% in February, driven by policies promoting vehicle scrappage and trade-in [1] Group 2: Real Estate Market in Shanghai - The second-hand housing market in Shanghai saw a significant increase in transaction volume, with 1,432 units sold on March 8, marking a new high for 2025 [3] - From March 1 to 8, over 7,572 second-hand homes were sold, averaging about 940 units per day, indicating a strong market recovery [3] - The market is characterized by high demand for smaller, affordable units, while the pressure to reduce inventory remains in non-core areas [4] Group 3: Shenzhen Industrial Space Initiative - Shenzhen's state-owned assets committee released 100,000 square meters of industrial space, offering rent-free options for tech companies for up to two years [5] - This initiative aims to attract talent and support technological innovation, providing a conducive environment for startups [6] Group 4: Suzhou Housing Loan Policy - Suzhou introduced a "three lows and one wide" housing loan policy, allowing for a minimum down payment of 15% and monthly payments as low as 100 yuan for the first five years [7][8] - This policy aims to lower the entry barrier for young people and new residents in the housing market, potentially stimulating demand [8] Group 5: Semiconductor Industry Consolidation - North China Innovation plans to acquire control of Chip Source Micro by purchasing shares from its second-largest shareholder, with a total transaction value of approximately 1.687 billion yuan [9] - The acquisition aligns with national policies supporting semiconductor industry consolidation, and if successful, it will enhance competitive capabilities [10] Group 6: JD.com's Retail Expansion - JD.com plans to add 20 new warehouse stores in Tianjin, aiming to enhance its retail footprint and improve delivery efficiency [11] - The company is focusing on integrating warehouse and retail functions to compete effectively in the fresh food market [12] Group 7: Double Success Pharmaceutical Restructuring - Double Success Pharmaceutical announced the termination of its restructuring plan due to failure to reach an agreement on transaction terms, raising concerns about its financial stability [13][14] - The company has faced continuous losses and is at risk of delisting, highlighting the challenges in the pharmaceutical sector [14][15]

涉及总金额4 0 8 . 5 3亿元人民币。 作者 | 私募通 来源 | 决策投资圈 （ID：PEDATAMAX） 清科创业（0 1 9 4 5 .HK）旗下私募通统计：截至本周五下午，募资、投资、上市和并购共 1 4 8起事件，涉及总金额4 0 8.53亿人民币。从交易金额来看，本周金额较大事件是： 2 0 25年3月4日，全国社会保障基金理事会投资国投电力控股股份有限公司7 0 . 0 0亿人民 币。从交易事件地域分布看，目前主要分布在上海市、北京市和江苏省，占比为上海市 2 0 .5%，北京市1 6 . 7%，江苏省14.1%。 01 本周募资情况 本周新登记股权投资基金管理人共计0家，取消备案登记4家，全年截至目前累计股权投 资基金管理人数量为11家。本周新增备案基金数量为70只，规模总计1 4 6 . 5 1亿元，本周 备案基金募资最多的为合肥市包河区产发创业投资合伙企业（有限合伙）和绵阳涪江新 兴股权投资合伙企业（有限合伙），募集20.00亿人民币。全年截至目前累计股权投资备 案基金数量为7 0 1只，规模总计5705.25亿元。（2025年2月2 8日- 2 0 2 5年3月6日） 投资金额TO ...

港股流动性的重大改善，使得公募QDII重仓股的覆盖策略，正试探性超越港股通股票的名单范围。 由于港股市场特殊性，股票的流动性定价逻辑在相当程度上可以超越基本面，基于谨慎性原则，公募QDII尽 管未在基金合同上明确约定投资对象的"入港股通名单"条件，但在实际操作中的与强制合同约定"入港股通名 单"的A股基金、港股通基金保持一致，而QDII跟随A股基金与港股通基金的覆盖范围，也存在着避免孤军买 入、股票定价缺乏内资机构帮衬的需求。 但随着港股估值定价压缩严重、南下的"水源"越来越多，以及外资往往在入通名单公布前先行买入拉升现象频 频，由此出现许多"非入港股通"股票上涨背后均有QDII身影的现象，公募QDII这种尝试性的"孤军深入"名单 之外的优秀港股公司，也凸显出它们对港股流动性和定价逻辑重大变化的敏感性。 "非港股通"股票频现QDII 2025年3月10日，新一轮的港股通名单调整正式生效。但对许多A股基金经理、港股通基金经理而言，它们想 低位买入的股票正罕见的被公募QDII先拉了一波。 由于港股市场流动性与估值定价的敏感性，基于谨慎原则，公募QDII基金在香港市场的重仓股选择，向来以 纳入港股通名单作为评价依据 ...