基金经理在三季报中表示，本产品净值在本季度创历史新高，我们坚持不到 20% 的股票仓位，并针对 可转债中位数超过 130 元、吸引力不足的现状大幅降低了转债仓位，仅保留部分 115 元左右的低价平衡 型品种。面对上证指数站上 3900 点创 10 年新高的行情，我们对市场短期走势保持谨慎，通过高性价比 资产管理回撤。配置方向上，因科技板块 PB 分位数达 85% 以上，我们耐心等待更有性价比的时刻； 重点关注国内受益于"反内卷"格局优化的化工、纯碱、玻璃等周期中坚，以及受益于海外电网更新和人 工智能电力拉动的电网设备（如变压器、电表）；同时持续看好受益于招标生态改善和全球化运营的医 疗器械，并在消费数据压制股价时，增加对养殖、快递及白酒等板块的挖掘与审慎评估。我们希望通过 中性仓位与扎实的高性价比资产平滑净值波动，一如既往为投资者创造价值。 公开资料显示，兴银收益增强A（003628）成立日期为2016年11月28日，基金经理罗怡达，硕士研究 生，2024年1月加入兴银基金，现任研究与创新投资部负责人、基金经理；基金经理邓纪超，硕士研究 生，2017年12月加入兴银基金，现任权益投资部基金经理。Wind数据显 ...

《合规指南》制定了专门的"故障处理规则"，明确了企业的责任义务，切实解决消费者的后顾之 忧。 央视网消息：我们也提醒您，查看在用民用"三表"是否张贴强制检定标识，并处于检定有效期内； 如在用表具超期，应当与供水、供电、供气公用企业联系，及时进行更换。此外，我们在使用"三表"的 时候，如果家里的水、电、气表走的过快、多收了费，或者不用的时候也发生了跳字，这该怎么办？新 规对这些情况也有明确规定，继续来看记者的报道。 ...

Core Viewpoint - The power grid and industrial control sectors are expected to show steady growth through 2025, with a focus on structural investment opportunities, particularly in high-elasticity areas such as AIDC and overseas expansion [2][4]. Power Grid - The investment in the national power grid during the 14th Five-Year Plan is projected to grow at an average annual rate of over 5%, driven by high-intensity construction of ultra-high voltage projects and sustained high levels of main network investment [4][6]. - The total investment in the power grid during the 14th Five-Year Plan is estimated to be around 2.8 trillion yuan, with an average annual investment of approximately 550 billion yuan [6]. - The ultra-high voltage construction is expected to maintain high intensity, with a total investment of over 800 billion yuan anticipated during the 14th Five-Year Plan [8][10]. - The main network investment has shown strong growth, with a year-on-year increase of nearly 20% in the first five batches of equipment tenders [10][12]. - The digitalization of the power grid is expected to continue growing, with significant increases in tender amounts for digital equipment and services [14][15]. Industrial Control - The industrial control sector is currently in a phase of internal recovery, with moderate market improvement observed in demand and inventory levels [16][17]. - The OEM market has shown a year-on-year increase, driven by demand from the energy storage and new energy sectors [20][21]. - Structural growth opportunities are anticipated in the industrial control sector, particularly in the context of the ongoing expansion of the new energy industry [21][22]. AIDC - The AIDC sector is expected to focus on high-slope directions in both strong and weak power supply, with significant advancements anticipated in power density and efficiency [22][24]. - The strong power side is evolving towards more efficient systems, while the weak power side is seeing upgrades that could significantly increase product average selling prices (ASP) [26][28]. Overseas Expansion - The global power investment cycle is expected to create opportunities for the export of power equipment, particularly in regions facing electricity shortages [30][31]. - The demand for gas turbines and SOFCs is anticipated to rise, with China positioned to benefit from these trends through increased exports [47][48]. - China's transformer exports have seen significant growth, with a year-on-year increase of 40% in the first ten months of 2025, reflecting a strong international demand [39][40].

《三星医疗关于子公司签订海外经营合同的公告》 《三星医疗关于经营合同预中标的提示性公告》 最新公告列表 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 截至2025年12月1日收盘，三星医疗（601567）报收于22.86元，较前一交易日上涨0.93%，最新总市值 为321.23亿元。该股当日开盘22.58元，最高22.88元，最低22.51元，成交额达4.78亿元，换手率为 1.5%。 近日，宁波三星医疗电气股份有限公司下属全资子公司PT CITRA SANXING INDONESIA签订印尼电表 年度招标项目合同，合同金额总计3,751.66亿印尼盾，约合1.60亿人民币，占公司2024年度经审计营业 收入的1.10%。合同履行将对公司经营业绩产生积极影响，但不影响业务独立性。交易对方为PLN电力 局，双方无关联关系。合同履行可能存在不可抗力、国际贸易政策调整、汇率波动等风险。 ...

Core Viewpoint - Multiple listed companies in the Shanghai and Shenzhen markets have announced significant developments, including investment funds, shareholder rewards, debt restructuring, and sales performance updates. Investment and Fund Establishment - Lushin Investment plans to establish a 400 million yuan investment fund focusing on life sciences, advanced manufacturing, and AI, with the company contributing 148 million yuan, accounting for 37% of the fund's total commitment [4] - Chint Electric's wholly-owned subsidiary intends to invest up to 201 million yuan in a green private equity fund with a total size of 700 million yuan, targeting renewable energy and energy-saving sectors [11] Shareholder Rewards and Stock Movements - Qianwei Central Kitchen will offer a product gift package worth 200 yuan to individual shareholders holding 100 shares or more during a specified period in December 2025 [5] - TaLong Pharmaceutical's controlling shareholder is planning a share transfer, leading to a temporary suspension of the company's stock [8] Debt Restructuring - Huaxia Happiness plans to use trust beneficiary rights to offset financial debts totaling up to 24 billion yuan, with 22.35 billion yuan already completed [6][7] Performance Updates - SAIC Motor reported sales of 4.108 million vehicles from January to November 2025, a year-on-year increase of 16.4% [12] - XPeng Motors delivered 36,728 vehicles in November 2025, marking a 19% increase year-on-year, with a cumulative delivery of 391,937 vehicles for the year [14] - NIO delivered 36,275 new cars in November 2025, a 76.3% increase year-on-year, with total deliveries reaching 949,457 vehicles [15] - Geely Automobile's total sales in November 2025 were 310,428 units, a 24% increase compared to the same period last year [16] - Li Auto delivered 33,181 vehicles in November 2025 [17] Share Buybacks - Hengyi Petrochemical's controlling shareholder plans to increase its stake in the company by 1.5 billion to 2.5 billion yuan [18] - Jixiang Airlines has repurchased shares worth 463 million yuan, accounting for 1.67% of its total shares [19] - BOE Technology has repurchased 244 million shares for a total of 975 million yuan [21] Contract Wins - Far East Holdings' subsidiaries secured contracts worth 2.383 billion yuan in November 2025 [25] - Samsung Medical's subsidiary signed a contract for an annual tender project in Indonesia worth approximately 160 million yuan [26] - Zhongchao Holdings' subsidiaries won projects totaling 1.318 billion yuan [28] - Changhua Group received a project development notice from a domestic automaker, with an estimated total sales amount of 732 million yuan over five years [29]

Suspension and Resumption - Tailong Pharmaceutical's controlling shareholder is planning to transfer company shares, resulting in a stock suspension [1] Mergers and Acquisitions - Tanshan intends to acquire 51% equity of Shanghai Tongtu Semiconductor for 357 million yuan, with the target company engaged in IP technology licensing and chip design [2] Share Buybacks - Hengyi Petrochemical's controlling shareholder and its concerted parties plan to increase their holdings in the company by 1.5 billion to 2.5 billion yuan, with loans not exceeding 2 billion yuan [3] - Yongtai Energy plans to use 300 million to 500 million yuan for share buybacks aimed at cancellation [3] Investment Cooperation and Operational Status - Wolong New Energy is investing 804 million yuan to construct a 200,000 kW/1.2 million kWh independent energy storage demonstration project in Baotou [4] - Zhongchao Holdings' subsidiary won projects totaling 1.318 billion yuan, accounting for 23.97% of the company's audited revenue for 2024 [4] - Lizhong Group signed a technical agreement for commissioned processing of humanoid robot components with Weijing Intelligent [4] - Kaiwang Technology plans to establish a liquid cooling subsidiary with Wenjian Technology [4] - Ruishun Technology received a notice for a 331 million yuan cotton picker spindle production equipment construction project [4] - Tongyu Communication is accelerating its 6G research and low-orbit satellite internet layout [4] - Samsung Medical's subsidiary signed a contract for an annual bidding project for electric meters in Indonesia, with a contract value of approximately 160 million yuan [4] - Top Group is planning to issue H-shares and list on the Hong Kong Stock Exchange [4]

Group 1: BYD Performance - BYD announced a production of 474,200 new energy vehicles (NEVs) and sales of 480,200 NEVs in November 2025 [1] - Cumulative production for the year reached 4,117,600 units, representing a year-on-year increase of 7.29% [1] - Cumulative sales for the year totaled 4,182,000 units, with a year-on-year growth of 11.30% [1] - In November, BYD exported 131,900 NEVs and installed approximately 27.669 GWh of power batteries and energy storage batteries [1] Group 2: Investment Initiatives - Lushin Venture Capital plans to establish a 400 million yuan investment fund focusing on life sciences, advanced manufacturing, and AI [2] - Chint Electric's wholly-owned subsidiary intends to invest up to 201 million yuan in a green private equity investment fund with a total scale of 700 million yuan [8] Group 3: Corporate Actions - Qianwei Central Kitchen will conduct a shareholder reward activity, offering a product package worth 200 yuan to individual shareholders holding 100 shares or more [3] - Huaxia Happiness plans to use trust beneficiary rights to offset financial debts totaling up to 24 billion yuan as part of its debt restructuring plan [4] - Tailong Pharmaceutical's controlling shareholder is planning a share transfer, leading to a temporary suspension of the company's stock [5] - ST Xianhe has applied to revoke other risk warnings, pending approval from the Shenzhen Stock Exchange [6] - *ST Yuancheng's stock will be delisted due to a market value below 500 million yuan for 20 consecutive trading days [7] Group 4: Sales and Contracts - SAIC Group reported sales of 4,108,000 vehicles from January to November 2025, a year-on-year increase of 16.4% [10] - Geely Automobile's total sales in November reached 310,428 units, marking a 24% increase year-on-year [11] - Far East Holdings' subsidiaries secured contracts worth 2.383 billion yuan in November, positively impacting future earnings [18] - Samsung Medical's subsidiary signed a contract for an annual bidding project in Indonesia worth approximately 160 million yuan [19] - Zhongchao Holdings' subsidiaries recently won contracts totaling 1.318 billion yuan [20] - Changhua Group received a project development notice from a domestic automaker, with an expected total sales amount of approximately 732 million yuan [21]

Investment Funds - Lushin Venture Capital plans to establish a 400 million yuan investment fund focusing on life sciences, advanced manufacturing, and AI industries, with the company contributing 148 million yuan, accounting for 37% of the fund's total commitment [2] - Chint Electric's wholly-owned subsidiary intends to invest up to 201 million yuan in a green private equity fund with a total size of 700 million yuan, primarily targeting renewable energy and energy-saving sectors [8] Shareholder Activities - Qianwei Central Kitchen will conduct a shareholder reward activity from December 2 to December 16, 2025, offering a product package worth 200 yuan to individual shareholders holding at least 100 shares [3] - Hengyi Petrochemical's controlling shareholder plans to increase its stake in the company by 1.5 to 2.5 billion yuan within six months, with a share price cap of 10 yuan [16] - Jixiang Airlines has repurchased 36,474,886 shares, representing 1.67% of its total share capital, with a total expenditure of 463 million yuan [17] Financial Restructuring - Huaxia Happiness plans to use trust beneficiary rights worth up to 24 billion yuan to offset financial debts as part of its debt restructuring plan, with 22.35 billion yuan already completed [4] - ST Xianhe has applied to revoke other risk warnings, pending approval from the Shenzhen Stock Exchange [6] Sales Performance - SAIC Motor reported sales of 4.108 million vehicles from January to November 2025, a year-on-year increase of 16.4% [10] - Xiaopeng Motors delivered 36,728 vehicles in November 2025, marking a 19% increase year-on-year, with a cumulative delivery of 391,937 vehicles for the year [11] - NIO delivered 36,275 new cars in November 2025, a 76.3% increase year-on-year, with total deliveries reaching 949,457 vehicles [12] - Geely Automobile's total sales in November 2025 reached 310,428 units, a 24% increase compared to the same period last year [13] Contract Wins - Far East Holdings' subsidiaries secured contracts worth 2.383 billion yuan in November 2025, which will positively impact future operating performance [26] - Samsung Medical's subsidiary signed a contract for an annual tender project in Indonesia worth approximately 160 million yuan [27] - Zhongchao Holdings' subsidiaries recently won contracts totaling 1.318 billion yuan [28] - Changhua Group received a project development notice from a domestic automaker, with an expected total sales amount of approximately 732 million yuan over five years [29]

本次合同金额约合1.60亿人民币，占公司2024年度经审计营业收入的1.10%。合同的履行将对公司的经 营工作和经营业绩产生积极影响，但对公司业务、经营的独立性不产生影响。本次合同的签订是公司积 极开拓海外市场、深化本地化布局的成果，有利于公司不断完善海外业务布局，提高海外市场竞争优 势。 三星医疗(601567.SH)发布公告，公司下属全资子公司PTCITRASANXING INDONESIA(简称"印尼三 星")签订印尼电表年度招标项目合同，合同金额总计3751.66亿印尼盾，约合1.60亿人民币。 ...

本次合同金额约合1.60亿人民币，占公司2024年度经审计营业收入的1.10%。合同的履行将对公司的经 营工作和经营业绩产生积极影响，但对公司业务、经营的独立性不产生影响。本次合同的签订是公司积 极开拓海外市场、深化本地化布局的成果，有利于公司不断完善海外业务布局，提高海外市场竞争优 势。 三星医疗（601567）(601567.SH)发布公告，公司下属全资子公司PTCITRASANXING INDONESIA(简 称"印尼三星")签订印尼电表年度招标项目合同，合同金额总计3751.66亿印尼盾，约合1.60亿人民币。 ...