Core Viewpoint - Goldman Sachs has increased its stake in Dongfang Electric Corporation, acquiring 485,200 shares at a price of HKD 20.7115 per share, totaling approximately HKD 10.0492 million, resulting in a new holding of about 24.7231 million shares, representing 6.06% of the company [1] Summary by Category Company Actions - Goldman Sachs increased its holdings in Dongfang Electric by 485,200 shares [1] - The purchase price per share was HKD 20.7115, leading to a total investment of approximately HKD 10.0492 million [1] Shareholding Structure - After the acquisition, Goldman Sachs holds approximately 24.7231 million shares of Dongfang Electric [1] - The new shareholding percentage stands at 6.06% [1]

Group 1 - The Goldman Sachs Group, Inc. increased its stake in Dongfang Electric Corporation (01072) by 485,200 shares at a price of HKD 20.7115 per share, totaling approximately HKD 10.0492 million [1] - Following the increase, Goldman Sachs' total shareholding in Dongfang Electric is approximately 24.7231 million shares, representing a holding percentage of 6.06% [1]

智通财经APP讯，中国西电(601179.SH)发布公告，通用电气新加坡公司因自身经营发展需要，拟于本公 告披露之日起十五个交易日后的三个月内，即2025年12月12日至2026年3月11日期间，合计减持公司股 份不超过1.54亿股，即不超过公司总股本的3%。 ...

格隆汇11月20日丨中国西电(601179.SH)公布，通用电气新加坡公司因自身经营发展需要，拟于本公告 披露之日起十五个交易日后的三个月内，即2025年12月12日至2026年3月11日期间，合计减持公司股份 不超过1.54亿股，即不超过公司总股本的3%。其中，拟通过集中竞价交易方式减持不超过5125.88万 股，拟通过大宗交易方式减持不超过1.03亿股。 ...

格隆汇11月20日｜中国西电公告，公司持股5%以上股东通用电气新加坡公司因自身经营发展需要，拟 于本公告披露之日起十五个交易日后的三个月内，即2025年12月12日至2026年3月11日期间，合计减持 公司股份不超过153,776,470股，即不超过公司总股本的3%。其中，拟通过集中竞价交易方式减持不超 过51,258,823股，拟通过大宗交易方式减持不超过102,517,647股。 ...

Group 1 - The core point of the article highlights the trading performance of Mingyang Electric, which experienced a decline of 0.87% on November 20, closing at 43.45 yuan [1] - A significant block trade occurred, with a total volume of 89,600 shares and a transaction amount of 3.1468 million yuan, indicating a premium rate of -19.17% [1] - The buyer was Wukuang Securities Co., Ltd., while the seller was Financial Street Securities Co., Ltd., indicating active trading between these firms [1] Group 2 - Over the past three months, there has been only one block trade for this stock, with a total transaction amount of 3.1468 million yuan [1] - In the last five trading days, the stock has seen a cumulative decline of 13.88%, with a net outflow of 28.9136 million yuan in principal funds [1]

Core Viewpoint - Taiyong Changzheng experienced a significant drop in stock price, hitting the daily limit down with a trading volume of 7.30 billion yuan and a turnover rate of 16.79% [2] Trading Activity - The stock's daily fluctuation reached 17.69%, with a daily decline deviation of -9.23%, leading to its listing on the Shenzhen Stock Exchange's watch list [2] - Institutional investors net sold 42.25 million yuan, while brokerage seats collectively net bought 6.08 million yuan [2] - The top five trading departments accounted for a total transaction volume of 233 million yuan, with a net sell of 36.17 million yuan [2] Institutional Participation - Four institutional proprietary seats were involved in trading, with total buy amounts of 29.55 million yuan and sell amounts of 71.80 million yuan, resulting in a net sell of 42.25 million yuan [2] - The main fund outflow for the stock was 85.06 million yuan, including a large single outflow of 52.68 million yuan and a big single outflow of 32.38 million yuan [2] - Over the past five days, the main funds have seen a net inflow of 130 million yuan [2] Detailed Trading Data - The top buying and selling departments included: - Buy One: Guojin Securities, 23.73 million yuan bought, 0.46 million yuan sold - Sell One: Kaiyuan Securities, 0.01 million yuan bought, 45.34 million yuan sold [2]

成交额方面，寒武纪成交额51.9亿元，位居首位；ST观典成交额718.5万元，位居末位。 换手率方面，恒坤新材换手率为47.4%，位居首位；威高骨科换手率为0.17%，位居末位。 从盘面来看，科创板593只个股涨少跌多，高价股、低价股均多数下跌。细分领域来看，生物制药股、 医疗保健股表现活跃，半导体股、电气设备股跌幅靠前。 经新华财经统计，11月20日，科创板593只个股平均跌幅0.99%，平均换手率2.26%，合计成交额1427亿 元，平均振幅为4.16%。 个股表现方面，三达膜涨13.74%，涨幅靠前；华盛锂电跌9.33%，跌幅居首。 新华财经北京11月20日电 （胡晨曦）科创50指数11月20日早间高开，随后指数震荡下挫翻绿，午后指 数持续调整，最终大幅收跌。至收盘时，科创50指数报1328.19点，跌幅1.24%，指数振幅为2.77%，总 成交额约437.4亿元。 11月20日，科创综指全日收跌1.05%，收于1561.89点，总成交额约1427亿元。 （文章来源：新华财经） ...

Core Insights - The CEO of FedEx, Raj Subramaniam, indicated that global trade and supply chain changes driven by technology and geopolitical risks may persist long-term [1] - A new balance in supply chain dynamics is forming, characterized by increased regional features, and the transformation of the industrial economy will take longer to complete [1] - The impact of former President Trump's tariff policies and the end of exemptions for low-value goods has disrupted the global parcel delivery industry, potentially constraining industry growth in the coming year [1] Company-Specific Insights - FedEx warned in September that it expects to lose $1 billion this year due to trade fluctuations, primarily from reduced cargo volume from China to the U.S., which has been heavily impacted by the trade war [1] - The company has observed an increase in cargo flow from China to Europe, Latin America, and other regions in Asia, prompting adjustments in capacity allocation, including the redeployment of its cargo fleet [1] - FedEx is adjusting its capacity more rapidly than the pace of manufacturing migration, allowing it to capture signals and respond effectively [1] Industry Insights - Peter Voser, Chairman of ABB Group, emphasized that trade disruptions are not merely a result of election cycles but reflect fundamental market changes and a deeper understanding of potential costs [1] - Companies across various industries are increasingly aware that the losses from supply chain disruptions far exceed the costs of maintaining product inventories [1]

Core Viewpoint - The Hang Seng Index closed at 25,867.63 points, reflecting a slight increase of 0.14%, while the Hang Seng Tech Index decreased by 1.01% to 5,550.45 points [1] Group 1: Sector Performance - The construction materials, real estate, and banking sectors showed strong performance, with Sunac China rising over 10% and Minsheng Bank increasing by more than 3% [1] - Conversely, the electrical equipment, automotive, and coal sectors experienced declines, with CATL dropping over 8% and Xpeng Motors falling more than 4% [1]