中国策略 China Strategy 震荡蓄势中等待进一步催化 Consolidating and Awaiting Further Catalysts [Table_Title] 研究报告 Research Report 9 Nov 2025 周林泓 Amber Zhou 李加惠 Jiahui Li, CFA amber.lh.zhou@htisec.com jh.li@htisec.com [Table_yemei1] 观点聚焦 Investment Focus [Table_summary] (Please see APPENDIX 1 for English summary) 上周我们认为市场调整幅度有限，整体仍属逢低配置的阶段性机会，在科技完成回调之后，叠加政策预期升温， 市场有望重拾升势。本周市场在海外流动性影响下探底后回升。市场经历反弹后，A股大盘指数已再度接近前高， 但成交量尚未有效放大，市场突破前高存在一定阻力，短期内仍需时间蓄势整理。 由于美国政府停摆打压经济预期，叠加通胀压力加剧家庭财务担忧，美国消费者信心跌至三年新低。密歇根大学 11月初值情绪指数从53.6降至50.3，为2022年 ...

Group 1 - A new company named Jiantou Energy (Guyuan) Power Co., Ltd. has been established with a registered capital of 100 million yuan [1] - The legal representative of the new company is Zhan Wei [1] - The business scope includes energy storage technology services, wind power generation technology services, power generation, transmission, and distribution services [1] Group 2 - The company is jointly owned by Xintian Green Energy's wholly-owned subsidiary Hebei Jiantou New Energy Co., Ltd. and Guyuan Qiyuan Urban Development Group Co., Ltd. [1]