Core Viewpoint - The company, Suzhou Gohigh Semiconductor (002079.SZ), has not yet expanded into the solid-state battery business [1] Group 1 - An investor inquired about the company's involvement in solid-state battery operations [1] - The company confirmed on the investor interaction platform that it currently does not have any solid-state battery business [1]

Market Overview - On November 18, the A-share market experienced fluctuations, with the Shanghai Composite Index and Shenzhen Component Index both dropping over 1% during the day. The Shanghai Composite Index closed down 0.81% at 3939.81 points, while the Shenzhen Component Index fell 0.92% to 13080.49 points, and the ChiNext Index decreased by 1.16% to 3069.22 points [2][3] - The total trading volume in the Shanghai and Shenzhen markets reached 1.93 trillion yuan, an increase of 15.3 billion yuan compared to the previous trading day [2] Sector Performance - The market showed mixed performance across sectors, with over 4100 stocks declining. Notably, AI application concepts rose against the trend, while semiconductor and robotics sectors showed active performance. Conversely, popular themes recently faced corrections, with the Fujian sector experiencing significant declines and the lithium battery sector showing weakness [2] - Sectors with notable gains included AI applications and software development, while battery, coal, and steel sectors faced the largest declines [2] International Market - On the same day, U.S. stock indices collectively fell, with the Dow Jones down 1.07%, the S&P 500 down 0.83%, and the Nasdaq down 1.21%. Major tech stocks like Amazon and AMD dropped over 4%, while Microsoft and Nvidia fell more than 2% [4][5] - European markets also saw declines, with the FTSE 100 down 1.27%, the CAC 40 down 1.86%, and the DAX down 1.74% [4][5] - International oil prices increased, with WTI crude oil rising by 1.39% to $60.74 per barrel [4][5] Policy and Development Initiatives - The Ministry of Industry and Information Technology aims to establish around 200 high-standard digital parks by 2027, focusing on digital transformation and management improvements for industrial enterprises [7] - The National Development and Reform Commission approved five inter-regional power mutual assistance projects, with a total investment of 24.4 billion yuan, enhancing cross-regional power supply capabilities [9][10] - Beijing plans to incubate 3,000 technology-based enterprises and 600 specialized and innovative enterprises by 2027, aiming to form a robust technology transfer system [11] Company Announcements - Several companies reported significant developments, including: - Furi Shares' third-largest shareholder transferring 6.36% of shares [15] - Xianhui Technology receiving contracts worth approximately 796 million yuan from CATL [15] - Jiemai Technology signing a cooperation agreement with CATL for lithium battery composite materials [15] - Hongbo Shares won an arbitration case, receiving over 243 million yuan in compensation [16] Fund Flow Analysis - The internet services sector saw a net inflow of 4.186 billion yuan, while the battery sector experienced a significant net outflow of 10.625 billion yuan [17] - Notable stocks with net inflows included Liou Shares and N Hengkun, while Sunshine Power and CATL faced substantial net outflows [17]

本报记者 方凌晨 其中，创金合信基金调研次数多达427次，"领跑"一众公募机构。从Wind行业分类来看，其调研标的主要集中于工业机 械、电子元件、医疗保健设备等行业，金石资源、欧科亿、华锐精密是其关注度较高的个股。平安基金、华夏基金分别以256 次、231次的调研次数紧随其后。平安基金调研标的主要集中于工业机械、电子元件、集成电路等行业，对博盈特焊、凯格精 机等个股关注度更高。华夏基金调研标的则更多分布在工业机械、医疗保健设备、集成电路等行业。 整体来看，科创板与创业板个股成为公募机构调研的焦点，公募机构对这两大板块相关标的的调研频次位居全市场前列。 朱润康认为，在监管部门各项政策的引导和推动下，科创板与创业板市场包容性持续提升，成为支撑科技创新、助力产业 升级的重要阵地。今年前三季度，科创板与创业板上市公司整体业绩显著改善，成长韧性凸显。在AI（人工智能）、新能源等 前沿需求的拉动下，科创板与创业板个股已成为机构资金配置高成长资产的核心选择。 今年四季度以来，公募机构进一步加强调研，其中科创板、创业板成长型标的成为调研重点。 这也与业内人士的投资观点相契合。在近期市场震荡调整、AI主题投资分化等背景下，业界 ...

Core Insights - The A-share market is experiencing fluctuations, but the overall earnings remain stable, supported by healthy Q3 reports, indicating that recent market volatility is more influenced by sentiment rather than a weakening of fundamentals [2][9] - Foreign investment interest in A-share companies remains high, with over a hundred companies receiving foreign research this month, particularly in the AI sector [3][4] Foreign Investment Trends - More than a hundred A-share companies have been researched by foreign institutions this month, including notable companies like BeiGene and Luxshare Precision [3][4] - AI-related companies are the most favored by foreign investors, with Optoelectronics receiving 92 institutional research visits, over half of which were from foreign entities [4][5] Company-Specific Research - The top three A-share companies receiving foreign research this month are Optoelectronics, Aibin Zhongguang, and Huichuan Technology, all of which are AI-related [4][5] - Optoelectronics has been particularly popular, with 57 out of 92 research visits coming from foreign institutions, including major firms like Nomura and BlackRock [4][5] Market Outlook - UBS forecasts a prosperous year for the Chinese stock market in 2026, driven by factors such as the development of innovative sectors, particularly AI, and supportive policies for private enterprises and capital markets [10] - The market is expected to transition from a valuation-driven rally to one driven by earnings growth, as the impact of U.S.-China trade tensions diminishes [9][10] Sector Preferences - Foreign investors are increasingly favoring leading A-share companies, particularly in the technology sector, with significant interest in electronic devices, instruments, and photovoltaic equipment [6][7] - The top holdings among foreign investors include major companies like Ningde Times, Kweichow Moutai, and Midea Group, indicating a preference for industry leaders [7][8]

Core Viewpoint - The A-share market is experiencing fluctuations primarily due to emotional factors rather than a weakening of the fundamentals, supported by healthy Q3 earnings reports [3][12]. Group 1: Market Performance - The A-share market has shown a volatile trend around the 4000-point mark, with major indices experiencing declines on consecutive trading days [5]. - On November 18, the Shanghai Composite Index closed at 3939.81 points, down 0.81%, with total trading volume reaching 1.93 trillion yuan, an increase of 153 billion yuan from the previous day [5]. Group 2: Foreign Investment Interest - Despite market fluctuations, foreign interest in A-share companies remains strong, with over 100 companies receiving foreign institutional research this month [4][5]. - AI-related companies are particularly favored by foreign investors, with Optoelectronics (688686.SH) receiving 92 institutional visits, over half of which were from foreign entities [6][8]. Group 3: Institutional Insights - UBS and Goldman Sachs have released optimistic investment outlooks for 2026, highlighting opportunities in sectors such as overseas expansion and AI [3][13]. - UBS anticipates that the Chinese stock market will benefit from several favorable factors, including the development of innovative sectors, supportive policies for private enterprises, and ample liquidity under a loose monetary policy [13]. Group 4: Sector Preferences - Foreign investors are increasingly favoring industry leaders and "Chinese state-owned enterprises," with significant holdings in companies like Kweichow Moutai and China Ping An [9]. - The healthcare, insurance, energy, materials, and internet sectors have seen the most significant increases in foreign investment, while automotive and technology sectors have experienced reductions [9]. Group 5: Future Market Outlook - The market is expected to transition from a valuation-driven "hope" rally to a "growth" rally driven by earnings growth, as the impact of U.S.-China trade tensions diminishes [12]. - UBS forecasts that 2026 will be another prosperous year for the Chinese stock market, driven by innovation, supportive policies, and potential inflows from domestic and international institutional investors [13].

Group 1 - The core viewpoint is that the company's automotive electronics business has maintained a high growth rate this year, indicating a strong performance in an emerging strategic market [2] - The company is optimistic about the automotive electronics market and is focusing on deepening customer cooperation both in breadth and depth [2] - The company is continuously launching competitive products in line with the trend of intelligence in the automotive sector [2]

Core Viewpoint - Major investment banks like UBS and Goldman Sachs are optimistic about the performance of the Chinese market in 2026, highlighting opportunities in sectors such as AI and overseas expansion [1][7]. Group 1: Market Performance and Trends - The A-share market has experienced fluctuations, with the Shanghai Composite Index closing at 3939.81 points on November 18, down 0.81% [2]. - Despite market volatility, foreign investment interest remains high, with over 100 A-share companies receiving foreign research attention this month [2][4]. - The overall health of corporate earnings, supported by robust Q3 reports, indicates that recent market fluctuations are more influenced by sentiment rather than fundamental weaknesses [6]. Group 2: Foreign Investment and Research - AI companies are the most favored by foreign investors, with Optoelectronics receiving 92 institutional research visits, over half from foreign entities [2][3]. - Other notable companies attracting foreign research include BeiGene, Luxshare Precision, and Huichuan Technology, all of which are involved in AI or technology sectors [4][5]. - The trend shows that large-cap stocks continue to attract foreign interest, with companies like Wens Foodstuffs, Industrial Fulian, and BYD being included in recent foreign research lists [4]. Group 3: Future Outlook and Investment Themes - UBS forecasts that the Chinese stock market will experience another prosperous year in 2026, driven by innovation, particularly in AI, and supportive policies for private enterprises [7]. - Key investment themes identified by UBS include internet, hardware technology, and brokerage sectors, while high-dividend stocks are being deprioritized [7]. - Goldman Sachs also highlights several investment themes expected to outperform the market, including the return of private enterprises, overseas expansion, and AI-related sectors [7].

Group 1 - The A-share market is expected to continue showing a pattern of consolidation, supported by rising domestic policy expectations and the verification of Q3 performance, indicating rich structural opportunities [1] - Investors are advised to maintain strategic focus and actively seek quality assets during the volatile market, with technology growth remaining a long-term market theme [1] - Key sectors to watch for investment opportunities include communication equipment, electronic components, semiconductors, and consumer electronics [1] Group 2 - The non-ferrous metal sector has shown strong performance in 2023, with 108 out of 141 listed companies reporting revenue growth year-on-year, and 96 companies showing an increase in net profit [3] - The industry is expected to see rising prices for resource products in Q4, despite supply disruptions for major metals [3] - The humanoid robot industry is approaching a critical phase, with Tesla's Gen3 and Optimus developments supporting market expectations [3] Group 3 - The electronic industry reported a 15% year-on-year increase in overall revenue and a 46% increase in net profit for Q3 [5] - Demand for AI data centers, mobile phones, and automotive sectors remains strong, with local companies gaining market share in computing power [5] - The container shipping market has seen active price increases, with companies adjusting strategies to meet stable export demand [5] Group 4 - The short-term trend for the market is weak, with no significant new capital entering, leading to a lack of profit-making opportunities [7] - The Shanghai Composite Index is in a downward trend, with individual stocks experiencing larger declines, indicating a continued range-bound market [11] - Goldman Sachs predicts a growth phase for the Chinese stock market, driven by AI, anti-involution, and overseas expansion, with potential returns of about 30% by the end of 2027 [11]

每经AI快讯，有投资者在投资者互动平台提问：我观察到最新财报在建工程大幅下降，原因是工业园 区逐步落成： 1、近期逐步落成的是哪个工业园区，建设已经完成了吗？ 2、目前是否还有在建或计划 建设的工业园区？ 3、贵公司提到下一步将在生产线上加大投入，请问贵公司生产线扩产的计划是什么 （比如，在哪个工业园区扩产，时间规划、扩产项目及行业、扩产产能）？ （记者 王晓波） 顺络电子（002138.SZ）11月18日在投资者互动平台表示，公司近年来投入的基建项目，包括三个工业 园和公司研发中心，具体情况：东莞凤凰工业园建设的智慧园区，三期工程已全部建成，部分产线已投 产；湘潭陶瓷粉料工业园已经建成投产；上海松 江工业园已建成，部分产线已逐步开启投产；深圳研 发中心目前已经建成。各园区建设投产具体进度将按照市场需求计划分步推进。 ...

格隆汇11月18日丨天禄科技(301045.SZ)在投资者互动平台表示，TFT型偏光片用TAC膜供应商以日韩企 业为主，尤其日本厂商的份额约80%，目前中国大陆TFT级TAC膜基本依赖进口。公司于2023年设立了 子公司安徽吉光，已引入位于TAC膜产业链下游的三利谱、显智链、北京电控产投以及毅鸣、毅司等股 东，联合产业各方合力打破日韩对TAC膜的垄断，助力我国面板产业链的自主可控。目前TAC膜项目已 完成主要生产设备的订购工作，重点推进厂房建设及跟进设备交货进度等工作。 ...