Shareholding Changes - Changshu Bank's executives plan to collectively increase their holdings by no less than 550,000 shares [1] - TuoJing Technology's major shareholder, the National Integrated Circuit Fund, intends to reduce its stake by up to 843,490 shares, representing no more than 3% of the total share capital [2] - LongXun Co., Ltd. announces that two shareholders plan to reduce their holdings by a combined maximum of 2.63% [3] - HuaYa Intelligent's shareholders plan to reduce their holdings by no more than 399,210 shares, accounting for 2.98% of the total share capital [4] Mergers and Acquisitions - Dongfang Yuhong's wholly-owned subsidiary plans to invest approximately 1.08 billion Brazilian Reais (about 144 million RMB) to acquire 60% of Brazil's Novakem, a leading supplier of cement additives and concrete admixtures [5] - Junting Hotel has signed an agreement to acquire the remaining 21% stake in Junlan Management for 79.8 million RMB, resulting in full ownership [6] - HuDian Co., Ltd. intends to purchase 15% of Shengwei Strategy for 1,909,100 Euros, increasing its ownership from 84% to 99% [7] Risk Matters - Wenfeng Co., Ltd. reports that its Deputy General Manager, Qin Guofen, is under investigation and has been placed under detention, although this matter is personal and will not significantly impact the company's operations [8]

《中国经营报》记者从财政部获悉，在科技创新领域，今年中央本级科技经费支出安排3981.19亿元， 较上年增长10%，资金重点向基础研究、应用基础研究和国家战略科技任务倾斜，为航空发动机、细胞 与基因治疗等"卡脖子"技术攻关提供坚实保障。 以国产大飞机为例，作为国家工业制造的"皇冠明珠"，其崛起不仅是中国高端制造业突破的标志性成 果，更是全球航空产业格局重塑的关键变量。 中证鹏元研究发展部研究员翁欣表示，依托C919大型客机项目，我国已构建以中国商飞为核心、中国 航空工业集团为骨干、辐射全国并面向全球的商用飞机产业体系，形成"立足上海、延伸长三角、辐射 全国、面向全球"的产业布局，供应链与国际标准接轨，产业规模持续扩大。 新质生产力是推动高质量发展的核心动能，其培育壮大离不开财政和税收政策的有力支撑。今年以来， 财税部门通过政策创新、机制优化等举措，构建起全方位、多层次的支持体系，为新质生产力发展注入 强劲动能。 来自国家税务总局的数据显示，今年前8个月，支持科技创新的主要政策减税降费及退税达13336亿元， 其中研发费用加计扣除等政策贡献减税降费及退税8937亿元，有效降低企业创新投入成本。在先进制造 业，增 ...

Group 1 - Dongxin Co., Ltd. (SH 688110) announced on November 20 that its third board meeting will be held on the same day, discussing the share repurchase plan [1] - For the fiscal year 2024, Dongxin's revenue composition is 99.75% from integrated circuits and 0.25% from other businesses [1] - As of the report, Dongxin's market capitalization stands at 47.5 billion yuan [1]

Production Capacity and Market Position - The company's subsidiary, Dalian Qihua New Materials Co., Ltd., has an epoxy resin diluent production capacity of 4,000 tons/year (single shift) [2] - The company is a leading supplier of epoxy structural adhesives and infusion resins for wind turbine blades in China, holding the largest market share in this segment [3] - The adhesive and specialty resin segment's sales volume has steadily increased in the first three quarters of 2025, significantly boosting net profit due to rising demand in the wind power sector [3] Expansion and Production Strategy - The company currently focuses on improving existing capacity utilization and product quality rather than expanding production capacity due to strict environmental and safety regulations in the epoxy diluent industry [2] - There are no current plans for capacity expansion, with an emphasis on developing high-value specialty epoxy diluents [2] Supply Chain and Pricing Strategy - The company sources raw materials for epoxy products from both internal and external suppliers, with plans to increase the internal supply ratio in the future [3] - The pricing strategy is flexible, allowing the sales team to adjust prices in response to fluctuations in raw material costs [3] Strategic Development in Electronics - The company has transitioned from a traditional chemical adhesive manufacturer to an advanced new materials R&D enterprise, focusing on high-end electronic information materials [3] - A 51% stake in Chengdu Zhongke Huayi Microelectronics Co., Ltd. has been acquired, which has developed four product lines, including microcontroller chips and integrated circuits, with a performance commitment of at least RMB 40 million in net profit for the first year [4] Semiconductor Industry Transition - The company is accelerating its strategic transformation towards the semiconductor industry, leveraging its existing materials layout to create a third growth curve [4] - The strategic layout aligns with national industrial policy directions, supporting the company's long-term development goals [4]

Core Insights - The GDP of China grew by 5.2% year-on-year in the first three quarters of 2023, with significant contributions from major economic provinces like Guangdong and Jiangsu, both surpassing 10 trillion yuan in GDP [1][2] - The economic performance of the eastern coastal provinces remains strong, while the central and western provinces show promising growth rates, particularly Tibet leading at 7.1% [2][3] Economic Performance by Region - Guangdong and Jiangsu lead the nation with GDPs of 105.18 billion yuan and 102.81 billion yuan respectively, followed by Shandong at 77.12 billion yuan [1] - Shanghai and Hunan have both crossed the 4 trillion yuan mark in GDP for the first time, indicating a rising threshold for the top ten provinces [1] Growth Rates - Tibet's GDP growth rate of 7.1% is the highest in the country, followed by Gansu at 6.1% and Hubei at 6% [2] - A total of 21 provinces have growth rates that either exceed or match the national average, with 13 of these being from the central and western regions [2] Sectoral Contributions - High-tech and emerging industries are crucial for the provinces with leading growth rates, with Hubei's high-tech manufacturing and equipment manufacturing increasing by 13.5% and 10.9% respectively [2] - In Henan, the value added by strategic emerging industries grew by 11.6%, marking the highest growth rate since 2022 [2] Regional Economic Stability - The Yangtze River Delta region, comprising Jiangsu, Zhejiang, Anhui, and Shanghai, shows robust economic performance with combined GDP growth rates above the national average [3] - The region's economic growth is supported by exports, economic transformation, and consumer demand, with Shanghai's leading industries like AI and integrated circuits experiencing rapid growth [3] Future Outlook - The National Bureau of Statistics emphasizes the need for continued efforts to achieve annual economic targets, balancing short-term growth with long-term development [4]

Core Viewpoint - Dongxin Co., Ltd. (688110.SH) announced a plan to repurchase and reduce shares through centralized bidding, indicating a strategic move to manage its equity structure and respond to funding needs [1] Group 1: Share Repurchase Plan - The company plans to reduce no more than 3 million shares of its repurchased stock within three months, starting 15 trading days after the announcement, which represents approximately 0.6783% of the total share capital [1] - The reduction will be executed through centralized bidding at market prices [1] Group 2: Individual Shareholder Reduction - Ms. Xie Yingxia intends to reduce her holdings by no more than 140,600 shares, which accounts for up to 0.0318% of the total share capital, within a three-month period starting from December 15, 2025, after a 15 trading day waiting period [1] - The reduction will also be conducted through centralized bidding [1]

（编辑 姚尧） 证券日报网讯 11月20日晚间，拓荆科技发布公告称，截至本公告披露日，拓荆科技股份有限公司（以 下简称"公司"）股东国家集成电路产业投资基金股份有限公司（以下简称"国家集成电路基金"）持有公 司股份55，026，693股，占公司总股本的19.57%。公司股东国家集成电路基金基于自身经营管理需 要，计划自本公告披露之日起15个交易日后的3个月内，在符合法律法规规定的减持前提下，拟通过大 宗交易方式减持公司股份数量不超过8，434，917股（含本数），即不超过公司总股本的3%。 ...

Core Viewpoint - The article emphasizes the importance of accelerating high-level technological self-reliance and innovation in China, as outlined in the 14th Five-Year Plan, with a focus on leveraging national strategic scientific capabilities to support modernization efforts [1]. Group 1: Contributions of the Chinese Academy of Sciences - The Chinese Academy of Sciences (CAS) has played a crucial role in achieving significant technological advancements during the 14th Five-Year period, focusing on high-level technological self-reliance and innovation [2]. - CAS has actively undertaken major national scientific tasks and has made substantial contributions in strategic areas such as manned spaceflight, lunar exploration, deep-sea exploration, and energy security [2][3]. - The academy has successfully addressed key technological challenges in fields like integrated circuits, artificial intelligence, and advanced materials, providing strong technological support for industrial and supply chain security [3]. Group 2: Original Innovation and Key Technology Breakthroughs - CAS is committed to seizing technological development high ground by focusing on original innovation and key technology breakthroughs, as mandated by national leadership [4]. - The academy has organized collaborative efforts involving over 100 leading institutions and nearly 10,000 experts to tackle significant scientific challenges [5]. - Future plans include enhancing research organization models and management systems to better align with the goal of achieving key technological breakthroughs [6]. Group 3: Integration of Technological and Industrial Innovation - CAS is actively promoting the integration of technological innovation with industrial development, establishing mechanisms for collaboration between research institutions and enterprises [7]. - The academy aims to create a favorable ecosystem for the application of scientific achievements, facilitating the transformation of research outcomes into productive forces [8]. - Plans include strengthening the connection between major tasks and industry needs, and fostering a collaborative environment for innovation [8]. Group 4: Education, Science, and Talent Development - CAS is focused on the integrated development of education, science, and talent, aligning with national goals for building a strong educational and scientific workforce [9]. - The academy has initiated programs to cultivate top-tier innovative talent, particularly in urgent fields such as artificial intelligence and biotechnology [10]. - Future strategies involve enhancing the synergy between educational institutions and research efforts to improve talent quality and output [11].

每经AI快讯，龙迅股份（SH 688486，收盘价：73.54元）11月20日晚间发布公告称，因自身资金需求， 股东合肥中安拟通过集中竞价或大宗交易的方式减持不超过约248万股的公司股份，减持比例不超过公 司总股本的1.8623%。自本公告披露之日起15个交易日后的3个月内进行。 截至发稿，龙迅股份市值为98亿元。 每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 张明双） 2024年1至12月份，龙迅股份的营业收入构成为：集成电路占比100.0%。 因自身资金需求，股东滁州中安拟通过集中竞价或大宗交易的方式减持不超过约103万股的公司股份， 减持比例不超过公司总股本的0.7696%。自本公告披露之日起15个交易日后的3个月内进行。 ...

格隆汇11月20日丨拓荆科技(688072.SH)公布，公司股东国家集成电路基金基于自身经营管理需要，计 划自本公告披露之日起15个交易日后的3个月内，在符合法律法规规定的减持前提下，拟通过大宗交易 方式减持公司股份数量不超过843.49万股（含本数），即不超过公司总股本的3%。 ...