Core Viewpoint - Shenzhen TeFa Information Co., Ltd. has approved an increase in the trading limit for aluminum futures hedging by its subsidiary, Changzhou TeFa Huayin Cable Co., Ltd., to mitigate risks from raw material price fluctuations and enhance profit stability [1][5]. Group 1: Trading Overview - The company plans to increase the trading limit for aluminum futures hedging by up to 219.07 million yuan, with the total trading amount not exceeding 603.37 million yuan, while maintaining the maximum margin of 76.86 million yuan [2][6]. - The decision was made during the board meeting held on November 19, 2025, and does not require shareholder approval [11]. Group 2: Risk Management - The hedging strategy aims to lock in raw material prices and reduce operational risks associated with price volatility [8][23]. - The company has established a comprehensive risk control framework to manage market, funding, credit, technical, operational, policy, internal control, basis, and cash flow risks associated with the hedging activities [12][13][21][22]. Group 3: Financial Impact - Engaging in aluminum futures hedging is expected to stabilize production costs and product pricing, thereby promoting steady growth in performance [23]. - The company will account for the hedging activities in accordance with relevant financial regulations and standards [23].

Group 1: Solid-State Battery Development - The semi-solid state battery has passed customer testing and received orders [2] - Key materials such as oxide electrolytes, ionic conductor membranes, and silicon-based anodes have completed customer sampling and evaluations [2] - The solid-state battery and its key materials have not yet formed stable long-term revenue, thus not significantly impacting overall company performance [2] Group 2: Production Base Progress - The Huizhou solid-state battery materials project production base is still under construction, with no completion date provided [3] - Investors are advised to monitor company announcements for updates on the construction progress [3] Group 3: Investor Communication - The online investor communication was conducted through a text-based format on the "Investor Relations Interactive Platform" [2] - The event did not involve any undisclosed significant information [3]

Core Viewpoint - The article emphasizes the importance of market regulation in optimizing the business environment and stimulating market vitality, which is crucial for industrial transformation and high-quality development [1] Group 1: Market Regulation and Quality Development - The market supervision department of Liaocheng is implementing a quality-driven city strategy to support high-quality industrial development and modern industrial system construction [1] - By 2025, the market supervision bureau aims to enhance its regulatory functions and promote a "service deepening year" to advance the quality-driven strategy [1] Group 2: Service Optimization for Enterprises - Innovations in foreign investment registration processes have been introduced, including a "5S Smart Service" model to facilitate quick access for foreign enterprises [2] - A service station for the pharmaceutical industry has been established to streamline approval processes, helping 12 companies complete necessary checks and registrations [2] Group 3: Technical Capability Enhancement - The focus is on strengthening infrastructure and upgrading testing equipment across 12 industrial chains to support technical breakthroughs for enterprises [3] - Training programs for inspection and testing personnel have been implemented, enhancing professional capabilities and expanding testing services for local businesses [3] Group 4: Intellectual Property Promotion - The establishment of a patent utilization mechanism aims to enhance the conversion of patents into practical applications, particularly in high-end equipment and chemical industries [4] - A risk warning system for overseas intellectual property issues has been developed to assist local companies in navigating international markets [4] Group 5: Market Vitality Enhancement - The implementation of a service-oriented law enforcement approach has reduced burdens on 154 market entities through a "no penalty list" [5] - A credit repair reform has been introduced, facilitating over 11,200 credit repair cases, which has helped more than 8,200 market entities return to normal operations [5] Group 6: Precision Regulation - A credit risk classification system has been established, categorizing over 162,600 enterprises into different risk levels to ensure targeted regulatory measures [6] - The exploration of "non-intrusive regulation" methods, such as online monitoring and big data analysis, aims to minimize on-site inspections while maintaining oversight [6]

11月20日，金龙羽集团股份有限公司（以下简称"金龙羽"）发布公告称，为适应公司发展需要及相关法 律法规要求，拟对《公司章程》进行修订。本次修订涉及公司治理结构、股东权利、控股股东义务、董 事会职权等多个方面，其中删除监事会章节、强化控股股东责任及完善股东权利保护机制成为主要看 点。该议案已通过公司第四届董事会第十六次（临时）会议审议，尚需提交股东大会审议通过后方可生 效。 公司治理结构重大调整：删除监事会相关章节 公告显示，本次章程修订对公司治理结构进行了重要调整，原"监事会"相关章节被整体删除。据修订内 容，监事会的部分职能将由审计委员会及董事会等机构承接。例如，在股东权利行使方面，股东书面请 求提起诉讼时，原向监事会提出请求调整为向审计委员会提出；临时股东会的召集主体中，原"监事会 提议召开"调整为"审计委员会提议召开"。 这一调整意味着公司治理架构将进一步聚焦董事会及下设专门委员会的作用，强化内部审计与监督机制 的整合。公告同时明确，审计委员会成员中独立董事应占多数，且至少有一名独立董事为会计专业人 士，以保障监督职能的专业性与独立性。 法定代表人管理机制完善：辞任即卸任 30日内需确定继任者 -查阅 ...

Group 1 - The company's communication cable products are applied in various scenarios including 5G base stations, F5G all-optical parks, and more, contributing to a gross margin of 15.95% as per the 2025 semi-annual report [2] - The company has participated in the formulation of multiple standards related to communication cables and optical-electrical hybrid cables, indicating its technical reserves and product validation capabilities in the evolution of 5.5G [2]

Core Viewpoint - New Asia Cable experienced a decline of 1.20% in stock price on November 18, with a trading volume of 73.27 million yuan, indicating a potential shift in investor sentiment and market dynamics [1]. Financing and Trading Data - On November 18, New Asia Cable had a financing buy-in amount of 11.17 million yuan, with a net financing buy of 6.79 million yuan after 4.38 million yuan in financing repayments. The total financing and margin balance reached 91.59 million yuan, accounting for 6.90% of the circulating market value [1]. - The company had no short selling activity on the same day, with both short selling and repayment amounts recorded as zero [1]. Company Overview - New Asia Cable, established on July 2, 1999, is located in Qinyuan City, Guangdong Province. The company specializes in the research, production, and sales of electrical wires and cables [1]. - The revenue composition of New Asia Cable includes: 39.94% from power cables, 36.68% from overhead wires, 22.94% from electrical equipment wires and cables, 0.23% from cable pipes, and 0.21% from other sources [1]. Financial Performance - For the period from January to September 2025, New Asia Cable reported a revenue of 2.26 billion yuan and a net profit attributable to shareholders of 77.18 million yuan, reflecting a year-on-year decrease of 14.56% [2]. - As of September 30, 2025, the number of shareholders decreased by 22.76% to 25,800, while the average circulating shares per person increased by 33.47% to 2,407 shares [2]. Dividend and Shareholding - Since its A-share listing, New Asia Cable has distributed a total of 103 million yuan in dividends [3]. - As of September 30, 2025, the largest circulating shareholder is Hong Kong Central Clearing Limited, holding 713,500 shares, which is an increase of 289,200 shares compared to the previous period [3].

天眼查App显示，近日，上海粤越电缆科技有限公司成立，法定代表人为魏俊杰，注册资本3600万人民 币，经营范围为一般项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；金属材 料销售；供应链管理服务；金属材料制造；普通货物仓储服务（不含危险化学品等需许可审批的项 目）；新材料技术研发；信息咨询服务（不含许可类信息咨询服务）；电线、电缆经营；货物进出口。 （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）。 ...

格隆汇11月17日丨久盛电气(301082.SZ)在投资者互动平台表示，公司产品目前还没有应用于军工和航 天领域。 ...

Core Viewpoint - The company, Jiusheng Electric (301082.SZ), has indicated that its products are currently not applied in the military and aerospace sectors [1] Group 1 - Jiusheng Electric's products are not utilized in military applications [1] - Jiusheng Electric's products are not utilized in aerospace applications [1]

格隆汇11月17日丨久盛电气(301082.SZ)在互动平台表示，公司产品目前还没有应用于军工和航天领 域。 ...