Group 1 - The Hong Kong Stock Connect Dividend Low Volatility ETF (159118) experienced a fluctuation, currently down approximately 0.6%, with most holdings declining, while only a few, such as China CNR Corporation, Beijing Enterprises, and VTech Holdings, showed gains [1] - According to Shenwan Hongyuan Securities, the risk factors for insurance companies' related businesses have been lowered, allowing for significant equity allocation space, estimated to be in the hundreds of billions, as insurance funds increase their equity allocation ratio [1] - The historical long-term performance of the S&P Hong Kong Stock Connect Low Volatility Dividend Index is notable, with a cumulative increase of 102.23% and an annualized return exceeding 16% since 2021, significantly outperforming the Hang Seng Index and other related indices [1] Group 2 - The Hong Kong Stock Connect Dividend Low Volatility ETF (159118) closely tracks the S&P Hong Kong Stock Connect Low Volatility Dividend Index, focusing on large-cap value stocks, providing investors with low fees (management and custody fees only 0.2%) and high efficiency (T+0 trading) [2] - The ETF allows for quarterly assessments and profit distributions, with arrangements for profit distribution when conditions are met [2]

哈铁科技公告称，核心技术人员王志因退休辞去公司及下属企业所有职务，已办理离职手续，且未持 股。他在职时负责减速顶技术研究，工作已交接，参与的专利无纠纷，离职不影响公司知识产权完整 性。公司研发人数稳定，占总人数30%，团队结构完整，王志离职不会对研发实力、竞争力和经营能力 造成重大不利影响。保荐机构对此次人员变动无异议。 ...

Core Viewpoint - The stock of Siwei Control increased by 5.63% to 29.45 CNY per share, with a trading volume of 319 million CNY and a market capitalization of 11.229 billion CNY as of December 2 [1] Company Overview - Siwei Automation Equipment Co., Ltd. is located in Zhengzhou, Henan Province, established on April 29, 1998, and listed on December 24, 2015 [1] - The company operates in two main sectors: conventional railways and high-speed railways, focusing on train operation control, railway safety protection, and high-speed railway operation monitoring and information management [1] - Revenue composition includes: train operation control systems (40.91%), high-speed railway train operation monitoring systems (29.34%), railway safety protection systems (27.56%), and other (2.19%) [1] Shareholder Insights - The top circulating shareholder of Siwei Control includes a fund from Industrial Fund, specifically the Xingye Xingrui Two-Year Holding Period Mixed A (013910), which entered the top ten circulating shareholders in Q3 with 2.2792 million shares, representing 0.6% of circulating shares [2] - The fund has achieved a year-to-date return of 29.76% and a one-year return of 28.65%, ranking 2664 out of 8122 and 2647 out of 8056 respectively [2] Fund Performance - The fund manager of Xingye Xingrui Two-Year Holding Period Mixed A is Zou Hui, who has been in the position for 5 years and 9 days, managing assets totaling 5.721 billion CNY [3] - During Zou Hui's tenure, the best fund return was 79.82%, while the worst was 0.23% [3] Fund Holdings - Another fund from Industrial Fund, Xingye Advanced Manufacturing Mixed Initiated A (024729), holds 23,300 shares of Siwei Control, making it the third-largest holding, accounting for 4.6% of the fund's net value [4] - This fund was established on July 28, 2025, with a total size of 13.1448 million CNY and has achieved a return of 5.4% since inception [4] Additional Fund Management - The fund manager for Xingye Advanced Manufacturing Mixed Initiated A is Dong Lingfei, who has been in the role for 128 days, managing assets of 1.69771 million CNY [5] - The best return during Dong Lingfei's tenure was 4.53%, while the worst was 4.35% [5]

证券日报网讯 12月1日，研奥股份在互动平台回答投资者提问时表示，截至2025年11月28日，公司含信 用账户合并名册总户数为8190户。 （文章来源：证券日报） ...

Group 1 - China Post Life Insurance increased its stake in China National Railway Signal & Communication (China Tonghao) by 1.158 million shares at a price of HKD 3.4517 per share, totaling approximately HKD 3.9971 million [1] - Following the increase, China Post Life Insurance's total shareholding in China Tonghao reached approximately 119 million shares, representing a holding percentage of 6.05% [1]

（文章来源：证券日报） 证券日报网讯研奥股份11月24日在互动平台回答投资者提问时表示，截至2025年11月20日，公司含信用 账户合并名册总户数为8，204户。 ...

Group 1 - The core viewpoint of the news is the performance and market position of Siwei Control, which saw a stock price increase of 5.12% to 27.91 CNY per share, with a total market capitalization of 10.641 billion CNY [1] - Siwei Control's main business areas include conventional and high-speed railways, focusing on train operation control, railway safety protection, and high-speed railway operation monitoring and information management [1] - The revenue composition of Siwei Control is as follows: train operation control systems account for 40.91%, high-speed railway train operation monitoring systems for 29.34%, railway safety protection systems for 27.56%, and other supplementary services for 2.19% [1] Group 2 - Manulife Fund has a significant holding in Siwei Control, with its Manulife Contrarian Strategy Mixed Fund (229002) holding 52,100 shares, representing 1.56% of the fund's net value, making it the eighth largest holding [2] - The Manulife Contrarian Strategy Mixed Fund has a total size of 112 million CNY and has achieved a year-to-date return of 13.44%, ranking 4655 out of 8209 in its category [2] - The fund manager, Li Tingting, has been in charge for 3 years and 332 days, with the fund's best return during her tenure being 31.26% and the worst being -35.89% [3]

Group 1 - The company Kaifa Electric (SZ 300407) announced on November 20 that its 17th meeting of the 6th board of directors was held, discussing the adjustment of the grant price for the second phase of the restricted stock incentive plan [1] - For the first half of 2025, the revenue composition of Kaifa Electric was 65.91% from the railway industry, 33.81% from urban rail transit, and 0.28% from other businesses [1] - As of the report date, Kaifa Electric's market capitalization was 3.9 billion yuan [1]

Core Points - The first batch of high-speed trains and electric locomotives for the Malaysia East Coast Rail Link project was officially launched in Dalian, marking a significant milestone in the largest economic and trade project between China and Malaysia [1][2] - The East Coast Rail Link project, which spans 640 kilometers, is expected to be operational by early 2027 and is constructed by China Communications Construction Company [1] - The contract for 11 sets of 160 km/h electric multiple units and 12 HXD3C electric locomotives was signed in August 2022, with production starting on April 15 of this year [1] Company and Industry Summary - The high-speed trains utilize advanced Fuxing train control technology, focusing on "intelligent, high-end, and lightweight" design principles, featuring a dual-redundancy train network control system for real-time monitoring of critical systems [1] - The lightweight design enhances operational efficiency while reducing energy consumption, aligning with green manufacturing principles [1] - The trains are specifically designed to withstand local environmental conditions, including high temperatures, humidity, and frequent thunderstorms, with improved corrosion resistance and sealing for exposed components [1] - The electric locomotives exhibit significant technical features such as high starting traction, wide constant power range, and superior adhesion performance, equipped with intelligent human-machine interaction and safety protection systems for millisecond-level monitoring of critical safety aspects [2] - The delivery of the first batch of trains and locomotives to Malaysia is expected by the end of this year, with the remaining units scheduled for delivery starting in the second quarter of 2026 [2]

香港联交所最新资料显示，11月12日，平安资管公司增持中国中车（601766）(01766)1392.8万股，每股 均价6.3788港元，总金额约为8884.39万港元。增持后最新持股数目约为3.11亿股，最新持股比例 7.12%。 ...