Core Viewpoint - The market experienced a rebound with the ChiNext Index rising by 2.92%, and nearly 4600 stocks across the market saw gains, indicating a broad-based recovery in investor sentiment [1] Market Performance - The Shanghai and Shenzhen markets recorded a total trading volume of 1.15 trillion, a decrease of 11.5 billion compared to the previous trading day [1] - The Shanghai Composite Index increased by 1.2%, the Shenzhen Component Index rose by 1.97%, and the ChiNext Index surged by 2.92% [1] Sector Highlights - The deep earth technology concept continued to strengthen, with companies like ShenKai Co. and Petrochemical Machinery achieving consecutive gains [1] - The computing hardware sector maintained its strong performance, with significant increases in the shares of the "Easy Zhongtian" optical module giants [1] - The Apple supply chain showed active performance, highlighted by a surge in shares of Huanxu Electronics, which hit the daily limit [1] - The storage chip sector saw a substantial rise, with Xiangnong Chip Innovation increasing by over 13% during trading [1] Declining Sectors - Coal stocks generally declined, with companies like Antai Group experiencing significant drops [1] - Sectors such as cultivated diamonds, CPO, and engineering machinery led the gains, while coal and other sectors faced the largest declines [1]

Core Insights - The Hang Seng High Dividend Yield Index increased by 0.22% as of October 21, 2025, with notable gains from stocks like Bosideng (up 6.22%) and China Pacific Insurance (up 3.15%) [3] - The CSI Dividend Index fell by 0.38%, with Wujin Stainless Steel leading gains at 5.51% while Yanzhou Coal Mining led losses at 4.45% [6] - The A-share market opened slightly higher but faced a pullback, with major indices closing up but showing a bearish candlestick pattern [7] Market Performance - The Hang Seng High Dividend ETF (513690) rose by 0.45%, reaching a latest price of 1.11 CNY, with a 1-week cumulative increase of 3.09% [3] - The Dividend ETF (515890) decreased by 0.47%, with a latest price of 1.48 CNY and a 1-week cumulative increase of 1.78% [6] - The Large Cap Growth ETF (159203) surged by 1.94%, with a latest price of 1.31 CNY and a 3-month cumulative increase of 22.32% [6] Economic Data - The actual GDP growth for Q3 2025 was 4.8%, down from 5.2% in the previous quarter, indicating increased internal economic pressure [7] - Retail sales in September grew by 3%, a decrease from 3.4% previously, while fixed asset investment saw a decline of 0.5% year-on-year [9] Investment Trends - There is a noted calendar effect for dividend assets entering Q4, with significant excess returns observed in December, January, and April [8] - The market is currently experiencing a style shift, with a focus on "countermeasures + hedging" themes due to external uncertainties [8] Fund Performance - The latest scale of the Hang Seng High Dividend ETF reached 5.628 billion CNY, marking a one-year high, with a total of 5.134 billion shares outstanding [10] - The fund has seen continuous net inflows over the past week, with a peak single-day net inflow of 49.21 million CNY, totaling 180 million CNY in net inflows [10]

市场主要指数今日（10月21日）集体高开，近3000只股开盘上涨。 盘面上，工程机械板块大幅拉升，山河智能、建设机械涨停，铁建重工、志高机械等跟涨。 保险股延续强势，中国人寿涨超3%，中国太保涨超2%；多元金融走强，鲁信创投、瑞达期货涨停。 油气开采及服务板块延续大涨，通源石油、潜能恒信涨超6%。 培育钻石概念爆发，惠丰钻石、四方达、英诺激光涨超10%，黄河旋风涨停。存储芯片概念大涨，大为股份涨停，雅创电子（维权）、云汉芯城涨超 10%。CPO概念继续强势，汇绿生态收获两连板，中富电路、源杰科技、斯瑞新材等跟涨。 22股杠杆资金加仓超1亿元 截至10月20日，市场融资余额合计2.41万亿元，较前一交易日增加3.96亿元。 社保基金三季度重仓股： 新进4股，增持5股 财报季，社保基金持股动向曝光！社保基金最新出现在18只个股前十大流通股东名单中，合计持股量1.9亿股，期末持股市值合计70.45亿元。持股变动显 示，新进4只，增持5只，不变2只，减持7只。 具体到个股，10月20日获融资净买入千万元以上的有386只，其中22只融资净买入额超1亿元。中际旭创融资净买入额居首，当日净买入11.24亿元；其次 是胜宏科 ...

10月21日，天孚通信涨5.08%，截至发稿，报166.00元/股，成交39.37亿元，换手率3.14%，总市值 1290.51亿元。 浙商汇金先进制造混合（013145）基金经理为王霆。 截至发稿，王霆累计任职时间6年143天，现任基金资产总规模3560.5万元，任职期间最佳基金回报 66.59%， 任职期间最差基金回报6.09%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，苏州天孚光通信股份有限公司位于江苏省苏州市高新区长江路695号，成立日期2005年7月20 日，上市日期2015年2月17日，公司主营业务涉及光无源器件的研发设计、高精密制造与销售业务。主 营业务收入构成为：光通信元器件98.91%，其他1.09%。 从基金十大重仓股角度 数据显示，浙商证券资管旗下1只基金重仓天孚通信。浙商汇金先进制造混合（013145）二季度持有股 数1.52万股，占基金净值比例为3.41%，位居第八大重仓股。根据测算，今日浮盈赚取约12.21 ...

创业板50指数选取创业板指市值前100只流动性靠前的前50股票，代表了创业板大盘公司，精选市值较 高、流动性较好的龙头公司，指数具备较强的成长潜力。指数集中覆盖电池、证券、通信设备等行业， 主要体现为"三创（创新、创造、创意）四新（新技术、新产业、新业态、新模式）"。 创业板50ETF华夏（159367），该产品具备两大核心优势：一是20%涨跌幅限制，相较于传统宽基指 数，交易弹性更强；二是管理费0.15%、托管费0.05%，处于同类产品最低费率档，有效降低投资成 本。 （文章来源：每日经济新闻） 2025年10月21日，创业板50ETF华夏（159367）上涨3.1%，持仓股中际旭创涨超8%，信维通信、新易 盛涨超6%。 消息面，随着普通存储芯片的供应已趋紧，全球存储芯片行业似乎正加剧迈入许多分析师所称的"超级 周期"，设备制造商正疯狂囤积存储芯片。随着芯片制造商竞相投入于人工智能芯片的全球热潮，正导 致智能手机、计算机和服务器中广泛使用的普通存储芯片供应趋紧，并引发了部分客户恐慌性采购，继 而进一步推高了价格。 摩根士丹利认为AI驱动下存储行业供需失衡加剧，预计将开启持续数年的"超级周期"，到2027年全 ...

这场暴跌并非毫无征兆 早盘开盘时，市场尚能维持微弱平衡，但午后抛售潮如决堤洪水涌来，指数曲线呈现近乎垂直的下跌。 科创50指数成为重灾区，单日暴跌3.77%。 两市成 交额微幅放量至1.94万亿元，但仍处于近期低位，反映出资金观望情绪浓厚。 秋季图文激励计划 A股收盘的钟声响起，投资者们的手机屏幕上几乎一片惨绿。 沪指暴跌1.95%，失守3900点关口，创业板指重挫3.36%，全场近4800只个股下跌。 中兴通讯尾盘跌停，单日市值蒸发超200亿元，其港股也大跌近14%。 恐慌情绪如瘟疫般蔓延，社交平台上充斥着"账户缩水""割肉离场"的哀嚎。 暴跌中仍有逆流而上的板块 燃气、煤炭、石油等资源股强势崛起，大有能源6天内斩获5个涨停板，国新能源4天3板。 银行板块相对坚挺，农业银行连续11日收阳，创下历史新高。 防 御性板块成为资金的避风港，与科技股的惨淡形成鲜明对比。 外部环境的恶化是引爆这场暴跌的导火索 美股前一日因区域银行危机全线收跌，锡安银行、西部联盟银行因坏账计提和欺诈指控暴跌超10%。 美国政府停摆进入第三周，参议院第十次否决临时拨 款法案，关键经济数据暂停发布。 中美贸易摩擦反复升温，全球市场避险情绪 ...

按照武汉凡谷10月21日收盘价13.09元计算，孟庆南、孟凡博拟减持金额合计不超过2.68亿元。 公司实际控制人孟庆南、王丽丽为夫妻关系。孟凡博系孟庆南与王丽丽之子；王凯系王丽丽女士之弟。 中国经济网北京10月21日讯武汉凡谷（002194）(002194.SZ)昨日晚间发布关于控股股东及其一致行动人减持股份 的预披露公告。公司于近日收到公司控股股东、实际控制人之一孟庆南及其一致行动人孟凡博的《股份减持计划 告知函》。 持有公司股份50,438,267股(占公司总股本比例7.3817%)的控股股东、实际控制人之一孟庆南计划自公告披露之日 起15个交易日后的3个月内(即：2025年11月11日至2026年2月6日，法定禁止减持期间除外)以集中竞价交易方式、 大宗交易方式减持公司股份不超过10,714,039股(即不超过公司总股本的1.5680%)。 持有公司股份39,138,141股(占公司总股本比例5.7279%)的控股股东、实际控制人之一致行动人及公司董事长孟凡 博计划自公告披露之日起15个交易日后的3个月内(即：2025年11月11日至2026年2月6日，法定禁止减持期间除外) 以集中竞价交易方式、大宗交 ...

Core Viewpoint - The company Jin Xin Nuo (300252.SZ) has announced a plan to issue shares to specific investors through a simplified procedure, aiming to raise funds for expansion projects and working capital [1][2]. Group 1: Share Issuance Details - The share issuance will target no more than 35 specific investors, including various financial institutions and qualified investors, with all subscriptions to be made in cash [1]. - The pricing for the shares will be set at no less than 80% of the average trading price over the 20 trading days prior to the issuance date [1][2]. - The total amount to be raised is capped at 291.5 million yuan, with a maximum of 30% of the company's total shares being issued [2]. Group 2: Fund Utilization - The funds raised will be allocated to two main projects: 210 million yuan for the expansion of data center high-speed interconnection products and 81.5 million yuan for replenishing working capital [3]. - The total investment for the data center project is approximately 297.5 million yuan, indicating a significant commitment to enhancing operational capacity [3]. Group 3: Financial Performance - For the first half of 2025, the company reported a revenue of 1.223 billion yuan, reflecting a year-on-year increase of 17.89%, while net profit attributable to shareholders was 5.16 million yuan, up 60.54% [4][5]. - The company’s cash flow from operating activities showed a negative net amount of 208 million yuan, worsening from the previous year [4][5]. - In 2024, the company achieved a revenue of 2.137 billion yuan, a 6.94% increase, with a net profit of 12.51 million yuan, marking a significant turnaround from previous losses [6].

Economic Overview - The September economic data indicates that counter-cyclical policy adjustments are gaining momentum, with improved liquidity and a rebound in M1 growth leading to a narrowing M1-M2 spread, suggesting marginal recovery in domestic demand [1] - The year-on-year decline in PPI has narrowed, and the profit growth rate of industrial enterprises has turned positive, reflecting stabilization in the industrial sector [1] - Despite ongoing pressures on investment and consumption, accelerated fiscal spending and the implementation of new policy financial tools are expected to further support improvements in the economic fundamentals [1] Digital Economy and AI Development - The Ministry of Industry and Information Technology has issued a notice to promote the "millisecond computing" initiative, which aims to advance AI computing power towards distributed and edge collaborative development [1] - This initiative marks a critical transition for China's digital economy from "computing power scale" to "computing power efficiency," benefiting communication equipment, computing infrastructure manufacturers, and the domestic AI chip and edge computing industry chain [1] - In the long term, the AI server sector is expected to continue benefiting from the trend of computing architecture upgrades [1] Market Performance of Zhongzheng 500 ETF - As of October 20, 2025, the Zhongzheng Small Cap 500 Index (000905) has seen a 0.93% increase, with notable gains in constituent stocks such as CITIC Heavy Industries (10.05%) and Feiliwa (9.15%) [3] - The Zhongzheng 500 ETF Ping An (510590) has risen by 16.51% over the past three months, with a current price of 7.49 yuan [3] - The ETF has recorded a turnover of 0.1% during the trading session, with a total transaction volume of 818,100 yuan [3] Performance Metrics of Zhongzheng 500 ETF - The Zhongzheng 500 ETF Ping An has achieved a net value increase of 22.04% over the past five years [4] - The highest monthly return since inception was 22.89%, with an average monthly return of 5.04% and a year-to-date profit percentage of 66.67% [4] - The fund's management fee is 0.50%, and the custody fee is 0.10% [4] Top Holdings in Zhongzheng Small Cap 500 Index - As of September 30, 2025, the top ten weighted stocks in the Zhongzheng Small Cap 500 Index include Shenghong Technology, Huagong Technology, and Xian Dao Intelligent, collectively accounting for 7.8% of the index [5]

人民财讯10月21日电，10月21日，华为常务董事、终端BG董事长余承东宣布，华为新款路由X3Pro将于 11月正式上市。记者获悉，该路由器定位高端，内部灯光可展示日照金山、雪落满山等效果，外形类艺 术品。 ...