亚太卫星宽带通信（深圳）有限公司展示的亚太6D卫星"深圳星"，是我国当前通信容量最大、波 束最多、输出功率最大的Ku频段高通量地球静止轨道卫星，整星通信容量达50Gbps，入网端站总数超3 万个。该卫星在今年初助力完成"北京—拉萨"远程机器人手术。 深圳市魔方卫星科技有限公司作为国家级专精特新"小巨人"企业，展示了自主研制的天目一号气象 卫星和魔瞳系列雷达卫星。公司通过标准化、模块化创新设计，将卫星研制成本降低约40%、交付周期 缩短约50%，推动卫星从"定制化"向"工业化"转型。 本届高交会上，多项技术成果实现首发首展。南方电网深圳供电局携手华为，展示了全球电力行业 首张"通量一体"量子加密专网。该项目负责人刘植伟介绍，该专网首次实现量子加密与通信光传输设备 深度融合，已应用于十五运会保电重要关键站点。 福建展团带来国内首个"空轨一体"闽台低空物流安全枢纽解决方案。中国电建集团航空港建设有限 公司副总经理卓国勇介绍，该方案能结合安全测试结果与机型性能库自动推荐最优航线，提供从航线规 划、安全测试到实时调度的全链条服务。 经济日报记者 杨阳腾 11月16日，为期3天的第二十七届中国国际高新技术成果交易会在深圳 ...

司结对共建的良好契机，全力打造国网境外项目与省级电网公司结对共建典范。此外，积极拓展碳普惠 服务，顺应全球绿色发展潮流，不断增强我省外向型经济市场竞争力。 报载：最近，国网江苏省电力有限公司召开党委会，以"第一议题"传达学习中国共产党第二十届中央委 员会第四次全体会议公报，习近平总书记在全球妇女峰会开幕式上的重要讲话精神等一系列重要内容， 为公司的发展注入了强大的思想动力。 "第一议题"制度是国网江苏省电力有限公司党委强化政治引领的重要举措。一直以来，国网江苏省电力 有限公司党委紧跟党的步伐，通过将学习习近平总书记重要讲话精神作为党委会的首要内容，确保公司 上下在思想上、行动上与党中央保持高度一致，为地区经济社会发展提供了坚实的电力保障。 认真学习贯彻党的二十届四中全会精神是当前的首要任务。党的二十届四中全会为国家的发展指明了方 向，国网江苏省电力有限公司党委扎实做好学习宣贯工作，科学谋划"十五五"发展，统筹推进电力保 供、优质服务、改革创新、党的建设等重点工作，圆满体现公司责任担当，确保各项任务圆满完成。 扎实做好新时代妇女工作是公司的重要职责。习近平总书记高度重视妇女事业发展，公司党委积极响 应，开展"巾 ...

本次向特定对象发行股票的发行对象为证券投资基金管理公司、证券公司、资产管理公司、信托投资公 司、财务公司、保险机构投资者、合格境外机构投资者及其他符合法律、法规规定的法人投资者和自然 人。最终发行对象将在本次向特定对象发行股票获得中国证监会同意注册后由公司董事会在股东会授权 范围内，根据发行对象申购的情况，与本次向特定对象发行股票的保荐人(主承销商)协商确定。本次向 特定对象发行股票的所有发行对象合计不超过35名，均以现金方式认购。 中国经济网北京11月18日讯华银电力（600744）(600744.SH)昨日晚间发布《2025年度向特定对象发行A 股股票预案》。 公告显示，华银电力本次向特定对象发行募集资金总额预计不超过150,000.00万元(含本数)，在扣除发 行费用后将全部用于以下项目：桂东普洛风电场项目、桂阳团结风电场项目、通道县金坑风电场项目、 芷江县碧涌大树坳风电场项目、补充流动资金。 | 序号 | 项目名称 | 项目投资总额 | 拟使用募集资金金额 | | --- | --- | --- | --- | | 1 | 桂东普洛风电场项目 | 59.792.94 | 15,000.00 | | 2 ...

在供热服务方面，集团重点关注蒙东与东北地区，截至11月10日已有64%供热机组启动运行。辽宁热力 公司较计划提前3天供暖，覆盖20万户家庭;内蒙古公司完成18台机组投运，服务32万用户;黑龙江公司 推进管网改造，解决部分区域供热不畅问题。这些举措有效传递了冬季能源保供的民生温度。 在煤炭生产领域，该集团将维持稳定高产作为核心目标。10月以来，其商品煤供应量接近1亿吨，同比 增长2.2%。在内蒙古等主要产区，所属企业通过优化开采方案与增加设备投入，持续提升生产效率。 运输环节中，集团强化铁路与港口协同，10月一体化煤炭出区装车日均达107万吨，为同期较高水平。 黄骅港务公司针对冬季作业特点，完善防冻预案，保障装卸流程顺畅，10月完成煤炭装船量1825.8万 吨。这些措施共同强化了冬季能源保供的资源基础。 随着冬季用能需求增长，国家能源集团近期通过产能提升与运输优化等措施，加强能源保供工作。该集 团聚焦于冬季能源保供任务，在一体化运营框架下协调煤炭生产、运输及发电各环节，以应对季节性需 求高峰。 发电保障方面，集团坚持"以煤定电、以热定电"原则，10月发电量同比增长5%。在江苏、浙江等区 域，公司通过设备维护与运 ...

Group 1: Dollar Performance and Economic Outlook - The short-term performance of the dollar is influenced by multiple factors, including weak macro data, fluctuating monetary policy expectations, sensitive capital flows, and geopolitical sentiments [1][7] - The dollar index has faced significant declines, with an approximate 11% drop from January to June 2025, marking the largest mid-year decline since 1973 [6][7] - Long-term issues such as the worsening U.S. fiscal deficit and debt problems, along with geopolitical conflicts, are eroding the credibility of the dollar [1][8] Group 2: Index Component Adjustments - The report predicts that nine stocks may be added to the CSI 300 index, including Huadian New Energy and Shenghong Technology, while others like TCL Zhonghuan may be removed [11][12] - The adjustments in major indices are expected to create significant liquidity and price impacts for the stocks involved due to the influence of passive investment strategies [11][12] Group 3: AI and Power Supply Challenges - The power supply gap is identified as a critical issue for the AI competition in the U.S., presenting significant opportunities for the renewable energy industry [3][17] - The report emphasizes the need for technological giants to address power supply issues to meet their 2026 commitments, as insufficient power can lead to underutilization of purchased chips [13][14] - China's advantages in the power sector, including a leading position in renewable energy and smart grid technology, are highlighted as key factors in the global energy landscape [16][17] Group 4: Company-Specific Insights - Tianyoude Wine is projected to achieve revenues of 1.143 billion, 1.160 billion, and 1.189 billion yuan from 2025 to 2027, with a slight decline in 2025 followed by modest growth [4][21] - The company has faced significant sales pressure, with a 10.79% year-on-year revenue decline in the first three quarters of 2025, but has maintained positive operating cash flow [19][20] - The introduction of flavored liquor products targeting younger consumers is part of the company's strategy to enhance market presence [20][21]

Market Overview - The U.S. stock market experienced significant sell-offs, with the Dow Jones dropping over 550 points and the Nasdaq China Golden Dragon Index declining by 1.21% [1] - Hong Kong's three major indices opened lower, with the Hang Seng Index down 0.80%, the Hang Seng Tech Index down 1.25%, and the State-Owned Enterprises Index down 0.72% [2] Sector Performance - Large technology stocks continued to perform poorly, with tourism stocks also declining after the Ministry of Culture and Tourism advised Chinese tourists to avoid traveling to Japan, leading to a drop of over 14% in Hong Kong Travel [2] - The aluminum and gold sectors showed significant declines, while some software, biopharmaceutical, and building materials stocks were more active [3] Future Market Predictions - Morgan Stanley predicts that the Chinese stock market could continue to rise through 2026, with year-end targets of 27,500 for the Hang Seng Index and 4,840 for the CSI 300 Index, representing increases of approximately 4% and 5% from current levels [4] - Analysts suggest that the Hong Kong market is currently in a weak consolidation phase, with resistance around the 27,000 mark, and recommend focusing on leading technology stocks based on future capital expenditure and strategic planning [4][5] Valuation and Investment Strategy - China Galaxy Securities indicates a cautious market risk appetite, suggesting that the Hong Kong market may continue its oscillating trend, with recommendations to focus on cyclical stocks benefiting from supply-demand changes and dividend stocks for defensive strategies [5] - CICC forecasts the Hang Seng Index could range between 28,000 to 29,000 points next year, with an optimistic scenario reaching around 31,000 points, while a pessimistic outlook could see it drop to approximately 21,000 points [6] Economic Indicators - The market is currently driven by liquidity, with external liquidity uncertainties potentially leading to short-term oscillations [7] - The Federal Reserve's recent statements have reduced the market's expectations for a December rate cut to about 40%, impacting overall market sentiment [8] Company Performance Highlights - XPeng Motors reported a total vehicle delivery of 116,007 units in Q3, a year-on-year increase of 149.3%, with total revenue reaching 20.38 billion yuan, up 101.8% year-on-year [12] - Huazhu Group's Q3 revenue was 7 billion yuan, reflecting an 8.1% increase, while net profit grew by 15.4% to 1.5 billion yuan [12] - China Resources Power's cumulative electricity sales for the first ten months reached 185 million MWh, a 6.5% increase year-on-year, with wind and solar sales increasing by 14.4% and 53.6%, respectively [12]

2025 年 11 月 18 日 双融日报 --鑫融讯 分析师：万蓉 S1050511020001 wanrong@cfsc.com.cn 市场情绪：67 分（较热） 最近一年大盘走势 资料来源：Wind，华鑫证券研究 -15 -10 -5 0 5 10 15 20 25 (%) 沪深300 2、电力设备主题：在全球能源转型与数字化转型的交汇点， 人工智能正加速渗透电力行业。国际能源署（IEA）预测，到 2030 年，全球数据中心的耗电量将翻一番。作为世界电力大 国，中国今年 1—9 月国家电网固定资产投资已超 4200 亿 元，同比增幅 8.1%，全年投资规模有望首次站上 6500 亿元 台阶。相关标的：国电南自（ 600268 ）、中国西电 （601179） 3、银行主题：银行股具有高股息特性，如中证银行指数的股 息率高达 6.02%，显著高于 10 年期国债收益率。在经济增 速放缓和市场波动加大时，银行股凭借稳定的分红能力，成 为险资、社保等长期资金的重要配置标的。相关标的：农业 银行（601288）、宁波银行（002142） ▌ 风险提示 宏观经济意外下滑、地缘政治风险、流动性收紧超预期、行 业政策低 ...

Core Viewpoint - On November 17, a total of 13 target price adjustments were made by brokerages for listed companies, with notable increases in target prices for Kangguan Technology, Kede CNC, and Honglu Steel Structure, showing target price increases of 44.60%, 43.03%, and 37.73% respectively, across the optical optoelectronics, general equipment, and professional engineering industries [1][3]. Group 1: Target Price Increases - Kangguan Technology received a target price of 32.00 yuan with a target price increase of 44.60% [3] - Kede CNC was assigned a target price of 86.95 yuan, reflecting a 43.03% increase [3] - Honglu Steel Structure has a target price of 24.42 yuan, indicating a 37.73% increase [3] - Other companies with significant target price increases include Zhongxin International with a target price of 159.30 yuan (35.42% increase) and Sinopec with a target price of 7.60 yuan (31.49% increase) [3] Group 2: Brokerage Recommendations - A total of 51 listed companies received brokerage recommendations on November 17, with Aotewei and Kede CNC each receiving 2 recommendations [4][5] - Aotewei's closing price was 42.55 yuan, while Kede CNC's closing price was 60.79 yuan [5] Group 3: Rating Adjustments - On November 17, brokerages raised ratings for 2 companies, including Sinopec's rating upgraded from "Hold" to "Buy" by Huatai Securities, and Hongyuan Electronics' rating upgraded from "Hold" to "Buy" by CITIC Securities [4] - One company, Honglu Steel Structure, had its rating downgraded from "Strong Buy" to "Recommended" by Huachuang Securities [4] Group 4: First Coverage - On November 17, brokerages initiated coverage on 7 companies, including Wan Energy Power with an "Accumulate" rating from China Merchants Securities, and Hengyin Technology with an "Accumulate" rating from Zhongyou Securities [7][8] - Other companies receiving first coverage include Jinlei Co. with a "Buy" rating, Zhaoyan Pharmaceutical with an "Accumulate" rating, and Weisheng Information with a "Recommended" rating [8]

Core Insights - On November 17, 2023, brokerage firms provided target prices for listed companies, with notable increases for Kangguan Technology, Kede CNC, and Honglu Steel Structure, showing target price increases of 44.60%, 43.03%, and 37.73% respectively [1][3] Group 1: Target Price Increases - Kangguan Technology received a target price of 32.00 yuan, reflecting a 44.60% increase [3] - Kede CNC's target price is set at 86.95 yuan, indicating a 43.03% increase [3] - Honglu Steel Structure has a target price of 24.42 yuan, with a 37.73% increase [3] Group 2: Brokerage Recommendations - A total of 51 listed companies received brokerage recommendations on November 17, with Aotewei and Kede CNC each receiving 2 recommendations [4][5] - Aotewei's closing price was 42.55 yuan, while Kede CNC's closing price was 60.79 yuan [5] Group 3: Rating Adjustments - Two companies had their ratings upgraded on November 17, including China Petroleum, which was upgraded from "Hold" to "Buy" by Huatai Securities, and Hongyuan Electronics, upgraded from "Hold" to "Buy" by CITIC Securities [4] - One company, Honglu Steel Structure, had its rating downgraded from "Strong Buy" to "Recommended" by Huachuang Securities [4] Group 4: First Coverage - Seven companies received initial coverage on November 17, including Waneng Power with an "Accumulate" rating from China Merchants Securities, and Hengyin Technology with an "Accumulate" rating from Zhongyou Securities [7][8] - Other companies receiving first coverage include Jinlei Co., Ltd. with a "Buy" rating, Zhaoyan Pharmaceutical with an "Accumulate" rating, and Weisheng Information with a "Recommended" rating [7][8]

电投能源（002128.SZ）11月18日在投资者互动平台表示，公司目前没有在建或建成的绿电直连项目。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：有报道说，远景在赤峰的实践：143万千瓦风光+680 MWh储能，实现100%绿电直连工业系统。并且已经稳定运行22个月。电投能源何时能绿电直连供给制 造业企业？电价估计是多少？是卖给第三方企业还是全部自用？ ...