Core Viewpoint - The stock of Fujian Jin Sen Forestry Co., Ltd. experienced an abnormal trading fluctuation, with a cumulative closing price increase of 22.60% over two consecutive trading days on October 30 and 31, 2025 [2]. Group 1: Stock Trading Abnormality - The company's stock price deviation qualifies as an abnormal trading situation according to Shenzhen Stock Exchange regulations [2]. - The company conducted a self-examination and verified with its controlling shareholders regarding the stock price fluctuations [3]. Group 2: Company Operations and Information Disclosure - The company confirmed that there are no corrections or supplements needed for previously disclosed information [3]. - No significant undisclosed information that could impact the stock price has been found in recent media reports [4]. - The company's production and operational conditions remain normal, with no significant changes in the internal or external business environment [5]. - There are no undisclosed major matters related to the company by the controlling shareholders or actual controllers [6]. - During the period of stock price fluctuation, the controlling shareholders and actual controllers did not engage in buying or selling the company's stock [7]. - The company has not violated fair information disclosure regulations [8]. Group 3: Disclosure Confirmation - The board of directors confirmed that there are no undisclosed matters that should be disclosed according to the Shenzhen Stock Exchange listing rules [9].

Core Viewpoint - Fujian Jinsen (002679.SZ) announced that its stock price has experienced an abnormal fluctuation, with a cumulative increase of 22.60% over two consecutive trading days, but confirmed that there are no significant changes in its operational environment or undisclosed major matters [1] Summary by Relevant Sections - **Stock Price Movement** - The company's stock price has seen a cumulative increase of 22.60% over two consecutive trading days, indicating abnormal trading activity [1] - **Company Operations** - The company stated that its production and operations are normal, with no significant changes in the internal or external operating environment [1] - **Disclosure and Compliance** - The company confirmed that there are no corrections or supplements needed for previously disclosed information, and there have been no major media reports affecting the stock price recently [1] - The company, its controlling shareholders, and actual controllers have not engaged in buying or selling the company's stock during the period of abnormal fluctuation [1] - There are no violations of fair information disclosure practices by the company [1]

南财智讯11月2日电，福建金森公告，公司股票交易价格连续2个交易日内（2025年10月30日、2025年10 月31日）收盘价格涨幅累计偏离22.60%，根据《深圳证券交易所交易规则》相关规定，属于股票交易 异常波动的情况。经自查，公司前期披露的信息不存在需要更正、补充之处；未发现近期公共媒体报道 了可能或已经对公司股票交易价格产生较大影响的未公开重大信息；近期公司生产经营情况正常，经营 环境未发生重大变化；公司、控股股东和实际控制人不存在应披露而未披露的重大事项，也未处于筹划 阶段的重大事项；在股票异常波动期间，公司控股股东、实际控制人及其一致行动人不存在买卖公司股 票的情况；公司不存在违反公平信息披露规定的情形。公司董事会确认，目前没有任何应予以披露而未 披露的事项，也未获悉对本公司股票交易价格产生较大影响的信息；前期披露的信息无需更正或补充。 公司提醒投资者注意风险，理性投资。 ...

Group 1 - The "Yuelin+" forestry display event, showcasing Guangdong's ecological products, made its debut at the 138th Canton Fair, attracting global merchants [3][4][5][6] - Featured brands include "Yuelin Tea," "Yuelin Bamboo Products," "Yuelin Mountain Delicacies," and "Yuelin Health," highlighting the latest achievements in ecological construction in Guangdong [5][6] Group 2 - The International Organization for Standardization (ISO) has officially released the "Tea Chemical Classification" technical specification (ISO/TS 5617:2025), marking a significant achievement for China in the international standardization of tea [9][10][11] - This development enhances China's international voice in tea classification methods and signifies a new breakthrough in the construction of the tea scientific classification system [10][11] Group 3 - The first Greater Bay Area Pet Industry Annual Ceremony was launched, focusing on the integration of "media + pets" to explore new development models and establish a high ground for the pet/aquatic industry in the region [13][14][15][16] - The event aims to cultivate a prestigious recognition akin to the "Oscars" for the pet/aquatic industry [16] Group 4 - A training session aimed at enhancing the quality and business capabilities of the Guangzhou Supply and Marketing Cooperative's publicity team was successfully held, with participation from 50 publicity officials [25][26][28] - The training focused on telling the stories of the supply and marketing cooperatives and showcasing the new atmosphere of reform and development [25][26] Group 5 - A training class for pest and disease prevention in grain and oil crops was conducted to improve monitoring and green prevention techniques, with over 70 participants from various regions [30][31][33] - The training was organized by the Guangdong Provincial Agricultural Pest Warning and Control Center, aiming to assist in increasing crop yields [30][31]

Core Insights - Jiangxi Province's Fuzhou City has successfully revitalized its bamboo forests through innovative forestry reforms, significantly increasing productivity and profitability [1][2] - The city has implemented a series of groundbreaking forestry measures, achieving a dual win of ecological protection and economic development, aiming for a transition from "millions of forestry resources" to "hundreds of billions in output value" [1][3] Group 1: Forestry Reform Initiatives - Fuzhou has pioneered the extension of land contracting rights, allowing farmers and operators to secure long-term investments, with over 31,200 contracts completed covering 412,300 acres [2] - The city has resolved over 790,000 historical issues related to land rights and issued 26,800 land rights certificates, covering 1,893,600 acres [2] Group 2: Financial Innovations and Business Environment - The establishment of the first "Two Mountains Bank" in the country has integrated various forestry resources, enabling the issuance of forestry operating income rights certificates, with one company receiving a bank credit of 7.8 million yuan [3] - The city has streamlined administrative processes for logging, significantly improving the business environment for forestry enterprises [3] Group 3: Development of Forestry Technology and Economy - Fuzhou has initiated the construction of ten forestry technology industrial parks, fostering 376 new business entities and promoting industries such as forest medicine and forestry fragrances [3] - The total output value of the under-forest economy has reached 36.5 billion yuan, involving 260,000 households [3] Group 4: Forest Health and Tourism - Fuzhou has established a comprehensive network of forest health tourism bases, with 10 national and 27 provincial bases, enhancing local income opportunities through eco-tourism [4]

Market Overview - A-shares experienced a rally followed by a pullback, with the Shanghai Composite Index breaking through 4000 points for the first time in 10 years before adjusting [1] - Daily trading volume exceeded 2 trillion yuan, with weekly trading volume surpassing 10 trillion yuan [1] - Margin trading saw significant increases, with over 41.3 billion yuan added, bringing the total margin balance to a historical high of 2.48 trillion yuan [1] Sector Performance - The electronics sector received over 9 billion yuan in net financing, while power equipment and communications sectors saw net inflows of over 6.3 billion yuan and 5 billion yuan, respectively [1] - Major inflows were noted in the power equipment sector, with over 49.5 billion yuan in net inflows from institutional investors, while the electronics sector experienced a net outflow of over 16.2 billion yuan [1] - The forestry sector surged, with the index rising over 48% to reach a 6.5-year high, driven by the publication of the "15th Five-Year Plan" [2] Policy Impact - The "15th Five-Year Plan" emphasizes green development, aiming for carbon neutrality and ecological safety, which has positively influenced market sentiment [2] - The new energy sector saw a broad rally, with various sub-sectors like energy storage and hydrogen energy reaching historical highs [2] - Key sectors highlighted for investment include communication infrastructure, semiconductor manufacturing, and industrial software, driven by policy support [3]

Core Points - The "Yuelin+" forestry exhibition debuted at the 138th Canton Fair, showcasing Guangdong's ecological products to global buyers [2][4] - The exhibition featured various unique brands such as "Yuelin Tea Oil," "Yuelin Bamboo Products," and "Yuelin Health Products," highlighting the latest achievements in ecological construction in Guangdong [3][4] Group 1 - The "Yuelin+" exhibition attracted numerous buyers, showcasing a diverse range of Lingnan characteristic forestry products, including tea oil, ganoderma, and bamboo steamers [6][7] - A giant 1.2-meter diameter purple ganoderma was a focal point, with local medicinal products like purple ganoderma and sand ginger gaining attention for their health benefits [9][10] - Guangdong Baohua Agricultural Technology's organic tea oil products have been exported to markets in Japan, Australia, and the United States, with plans to expand globally [15][16] Group 2 - The exhibition saw participation from international buyers from countries like the USA, Russia, and Brazil, engaging in discussions about planting techniques and product processes [25][26] - Guangdong's forestry industry is projected to reach a total output value of 941.6 billion yuan in 2024, reflecting a year-on-year growth of 5.21%, accounting for 9.26% of the national forestry industry output [28][29] - The province has implemented reforms to enhance the forestry industry, with significant areas dedicated to oil tea and bamboo cultivation, and new economic activities generating substantial revenue [30][31] Group 3 - The Guangdong Forestry Bureau aims to build a modern forestry industry system that integrates various sectors, emphasizing quality improvement and international cooperation [33][35]

Core Viewpoint - The sixth Guangdong Forest Culture Week has commenced, featuring over 260 forest culture activities across the province from October 30 to November 5, highlighting the importance of nature and environmental awareness [1] Group 1: Event Overview - The main event is taking place at Hongcheng Park on Ersha Island in Guangzhou, showcasing the beauty of nature with various activities [1] - The event includes four major forest culture theme exhibition areas featuring wildlife specimens and forestry products [1] - Activities such as forest therapy and music performances are designed to immerse visitors in the natural environment [1] Group 2: Community Engagement - Local citizens, such as Ms. Li from Guangzhou, are participating in the event to experience the charm of forest culture and support the upcoming National Games [1] - On the opening day, 21 cities in Guangdong launched numerous sub-events, focusing on themes like natural education and wellness experiences [1] Group 3: Activity Expansion - The Guangdong Forestry Bureau reported that this year's Forest Culture Week has expanded its reach and influence, with over 260 unique activities planned across more than 80 locations [1] - Activities include forest hiking, wetland bird watching, nature education, and photography [1]

Core Insights - The forestry sector experienced a significant increase of 7.8% on October 31, with Fujian Jinsen leading the gains [1] - In contrast, the Shanghai Composite Index closed at 3954.79, down 0.81%, and the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Sector Performance - Fujian Jinsen (002679) closed at 14.00, up 9.98% with a trading volume of 175,900 shares and a transaction value of 239 million [1] - Pingtan Development (000592) closed at 7.08, up 9.94% with a trading volume of 5,091,600 shares [1] - Yong'an Forestry (000663) closed at 7.34, up 1.80% with a trading volume of 176,100 shares [1] - ST Jinggu (600265) closed at 20.00, up 0.20% with a trading volume of 4,416 shares [1] Capital Flow - The forestry sector saw a net inflow of 124 million from main funds, while retail investors experienced a net outflow of 44.59 million [1] - Pingtan Development had a main fund net inflow of 82.38 million, but a net outflow from retail and speculative funds [2] - Fujian Jinsen had a main fund net inflow of 35.41 million, with outflows from both retail and speculative funds [2] - Yong'an Forestry recorded a main fund net inflow of 8.25 million, with a slight net outflow from retail investors [2] - ST Jinggu experienced a net outflow from main and speculative funds, but a net inflow from retail investors [2]

1. Report Industry Investment Ratings There is no specific industry investment rating provided in the report. 2. Core Views of the Report - Iron ore is expected to fluctuate strongly [2][6]. - Rebar and hot - rolled coil are expected to have wide - range fluctuations due to the repeated macro - sentiment [2][8][9]. - Ferrosilicon and silicomanganese are expected to have wide - range fluctuations due to the repeated market sentiment [2][13]. - Coke is expected to fluctuate strongly [2][18]. - Coking coal is expected to fluctuate strongly due to the resonance of macro and sector themes [2][19]. - Logs are expected to have repeated fluctuations [2][21]. 3. Summary According to Related Catalogs Iron Ore - **Fundamental Data**: The closing price of the futures contract 12601 was 802.5 yuan/ton, down 2.0 yuan/ton (-0.25%); the position increased by 8,698 hands. The prices of imported and domestic ores remained unchanged. The basis of 12601 against Super Special increased by 2.0 yuan/ton, and the basis against Jinbuba also increased by 2.0 yuan/ton [5]. - **Macro and Industry News**: On October 29, it was announced that President Xi Jinping would meet with US President Trump in Busan, South Korea on October 30 to exchange views on Sino - US relations and common concerns [5]. - **Trend Intensity**: The trend intensity of iron ore is 0 [5]. Rebar and Hot - Rolled Coil - **Fundamental Data**: For the futures contract RB2601, the closing price was 3,106 yuan/ton, down 12 yuan/ton (-0.38%); for HC2601, it was 3,318 yuan/ton, down 11 yuan/ton (-0.33%). The basis of RB2601 increased by 17 yuan/ton, and the basis of HC2601 decreased by 3 yuan/ton [8][9]. - **Macro and Industry News**: On October 30, weekly data showed that rebar production increased by 5.52 tons, hot - rolled coil production increased by 1.1 tons, and the total inventory of five major varieties decreased by 41.09 tons. The Ministry of Commerce and other 5 departments supported eligible commercial real estate projects to issue REITs. The 15th Five - Year Plan proposed directions for the high - quality development of the steel industry. In September 2025, national steel production data showed different trends in production volume and daily output compared with the same period last year and the previous month. In early October 2025, the steel inventory of key steel enterprises increased compared with the previous period [10][11]. - **Trend Intensity**: The trend intensity of rebar and hot - rolled coil is 0 [11]. Ferrosilicon and Silicomanganese - **Fundamental Data**: The closing price of ferrosilicon 2601 was 5550 yuan/ton, down 44 yuan; for ferrosilicon 2605, it was 5648 yuan/ton, down 34 yuan. The closing price of silicomanganese 2601 was 5842 yuan/ton, down 10 yuan; for silicomanganese 2605, it was 5890 yuan/ton, unchanged. The spot price of ferrosilicon FeSi75 - B in Inner Mongolia increased by 50 yuan/ton [14][15]. - **Macro and Industry News**: According to iron alloy online, on October 30, the prices of different grades of ferrosilicon and silicomanganese in various regions had different changes. The operating rates and production of ferrosilicon enterprises in Qinghai, Inner Mongolia, and Gansu regions in October also changed. In January, the electricity price in Yunnan would rise, and some silicomanganese factories would reduce or stop production. Some steel mills finalized the purchase prices of ferrosilicon [14][16][17]. - **Trend Intensity**: The trend intensity of ferrosilicon and silicomanganese is 0 [17]. Coke and Coking Coal - **Fundamental Data**: The closing price of coking coal JM2601 was 1288 yuan/ton, down 14 yuan (-1.1%); for coke J2601, it was 1786.5 yuan/ton, down 14.5 yuan (-0.8%). The spot price of some coking coals and cokes changed, and the basis and spread also changed [19]. - **Macro and Industry News**: On October 29, it was announced that President Xi Jinping would meet with US President Trump in Busan, South Korea on October 30 to exchange views on Sino - US relations and common concerns [20]. - **Trend Intensity**: The trend intensity of coke and coking coal is 0 [20]. Logs - **Fundamental Data**: The closing price and trading volume of log futures contracts 2511, 2601, and 2603 changed. The prices of different types of logs in the spot market also had different daily and weekly price changes [22]. - **Macro and Industry News**: On October 29, it was announced that President Xi Jinping would meet with US President Trump in Busan, South Korea on October 30 to exchange views on Sino - US relations and common concerns [24]. - **Trend Intensity**: The trend intensity of logs is 0 [24].