新华财经香港12月29日电（记者林迎楠）香港特区政府统计处29日发表的对外商品贸易统计数字显示， 11月香港整体出口和进口货值继续表现强劲，同比分别上升18.8%和18.1%。 统计数据指出，11月，香港商品整体出口货值为4689亿港元，同比上升18.8%；商品进口货值为5174亿 港元，同比上升18.1%。11月有形贸易逆差485亿港元，相等于商品进口货值的9.4%。 按国家和地区分析，11月从香港输往亚洲的整体出口货值同比上升17.1%。除亚洲目的地外，输往其他 地区的大部分主要目的地的整体出口货值同比也有提升，尤其是美国同比上升44.4%，荷兰同比上升 36.4%。 同期，来自大部分主要供应地的进口货值同比上升，尤其是越南，中国内地、马来西亚、英国和美国， 同比分别上升102.3%、25.0%、21.1%、19.7%和17.8%。 按主要货品类别分析，11月大部分主要货品类别的整体出口货值同比提升，其中"电动机械、仪器和用 具及零件"增加315亿港元，同比上升15.9%；"通讯、录音及音响设备和仪器"增加164亿港元，同比上升 36.8%。同期，大部分主要货品类别的进口货值同比也有提升。 香港特区政府发 ...

智通财经APP获悉，香港特区政府统计处今日(12月29日)发表的对外商品贸易统计数字显示，2025年11 月份香港整体出口和进口货值均录得按年升幅，分别上升18.8%和18.1%。 2025年11月份与2024年同月比较，大部分主要货品类别的整体出口货值录得升幅，尤其是"电动机械、 仪器和用具及零件"(增315亿港元，升15.9%)和"通讯、录音及音响设备和仪器"(增164亿港元，升 36.8%)。 继2025年10月份录得17.5%的按年升幅后，2025年11月份商品整体出口货值为4,689亿港元，较2024年同 月上升18.8%。同时，继2025年10月份录得18.3%的按年升幅后，2025年11月份商品进口货值为5,174亿 港元，较2024年同月上升18.1%。2025年11月份录得有形贸易逆差485亿港元，相等于商品进口货值的 9.4%。 2025年首11个月的商品整体出口货值较2024年同期上升14.3%。同时，商品进口货值上升14.1%。2025 年首11个月录得有形贸易逆差3,828亿港元，相等于商品进口货值的7.5%。 经季节性调整的数字显示，截至2025年11月止的3个月与对上3个月比较， ...

Core Insights - The Brazilian Consumer Price Index (CPI) rose by 4.46% year-on-year and increased by 0.18% month-on-month in November, marking the first time since September 2024 that the annual inflation rate has fallen within the Brazilian Central Bank's target range of 1.5% to 4.5% [1] - Analysts suggest that the November inflation data is unlikely to lead to an interest rate cut in the upcoming central bank meeting, but there is a possibility of a rate cut in January next year [1] Category Summaries - The largest increases in consumer spending categories were observed in personal expenditures and housing, which rose by 0.77% and 0.52% respectively [1] - Price declines were noted in categories such as household goods, communications, health and personal care, as well as food and beverages [1]

证券代码：001298 证券简称：好上好 编号：2025-005 | | 特定对象调研 | | □分析师会议 | | --- | --- | --- | --- | | 投资者关系活动 | □媒体采访 | | 业绩说明会 | | 类别 | □新闻发布会 | | □路演活动 | | | □现场参观 | | | | | □其他 | | | | | 康卫荣 | 东方财富证券 | | | | 吕建新 | 亚威投资 | | | | 梁正芳 | 汇杰资本 | | | | 安佟亮 | 粤民投基金 | | | | 范尊武 | 涵崧基金 | | | | 林秋杏 | 涵崧基金 | | | 参与单位名称及 | 束佳黛 | 瑞业资产 | | | 人员姓名 | 刘靖 | 坚石资产 | | | | 陈建富 | 亿方富投资 | | | | 徐灵娥 | 前海骏杰 | | | | 孔庆华 | 前海骏杰 | | | | 李强 | 证金投资 | | | | 黄自成 | 图灵资产 | | | | 余礼冰 | 晓喆基金 | | | 时间 | 2025 年 11 | 月 28 日 | | | 地点 | 公司会议室 | | | | 上市公司接待人 | ...

Core Insights - Hong Kong's overall export and import values recorded year-on-year increases in October 2025, with exports rising by 17.5% and imports by 18.3% [1] - The trade deficit for October 2025 was HKD 39.9 billion, equivalent to 8.0% of the import value [1] - For the first ten months of 2025, exports increased by 13.8% and imports by 13.6% compared to the same period in 2024, resulting in a trade deficit of HKD 334 billion, or 7.3% of imports [1] By Country/Region Analysis - In October 2025, exports to Asia increased by 15.6%, with significant growth to Malaysia (up 139.4%), Vietnam (up 56.0%), Taiwan (up 50.2%), India (up 31.8%), and mainland China (up 9.8%) [2] - Exports to other regions also saw increases, particularly to the Netherlands (up 56.8%) and the United States (up 40.5%) [2] - For the first ten months of 2025, exports to major destinations rose, especially to Malaysia (up 53.7%), Vietnam (up 52.8%), Taiwan (up 40.0%), mainland China (up 15.8%), and Japan (up 14.1%) [2] By Major Product Category Analysis - In October 2025, most major product categories saw export value increases, particularly electrical machinery, instruments, and parts (up HKD 30.3 billion, or 16.1%) and communication, recording, and sound equipment (up HKD 17.6 billion, or 35.7%) [4] - Import values also increased for major categories, especially electrical machinery, instruments, and parts (up HKD 40.6 billion, or 21.5%) and communication, recording, and sound equipment (up HKD 23.2 billion, or 45.5%) [4] - For the first ten months of 2025, significant export increases were noted in electrical machinery, instruments, and parts (up HKD 284 billion, or 15.9%) and office machines and automatic data processing equipment (up HKD 122.3 billion, or 28.0%) [4] Future Outlook - The global economy is expected to maintain moderate growth, with reduced uncertainty in external trade policies and sustained demand for electronic products likely benefiting Hong Kong's trade in the short term [5] - The government is committed to strengthening economic ties with various markets, which will continue to support trade growth [5] - Ongoing trade barriers remain a concern, and the government will remain vigilant [5]

Core Insights - Hong Kong's overall export and import values showed significant year-on-year increases in September 2025, with exports rising by 16.1% and imports by 13.6% [1] - The trade deficit for September 2025 was recorded at 50.2 billion HKD, equivalent to 9.8% of the import value [1] - For the first nine months of 2025, overall export value increased by 13.4% compared to the same period in 2024, while import value rose by 13.1% [1] Trade by Region - In September 2025, exports to Asia increased by 18.3%, with notable growth to Vietnam (50.9%), Malaysia (40.0%), Taiwan (31.9%), India (19.5%), and Mainland China (16.7%) [2] - Exports to Switzerland and Germany also saw significant increases, with growth rates of 138.5% and 27.6% respectively [2] - Imports from major supply regions also rose, particularly from the UK (70.3%), Vietnam (68.7%), Singapore (33.2%), Mainland China (19.4%), and Japan (12.9%) [2][3] Trade by Product Category - In September 2025, most major product categories saw export value increases, especially "Electrical machinery, instruments and appliances" (up 22.8%) and "Communication, recording and sound equipment" (up 14.5%) [4] - Import values also rose across most categories, particularly in "Electrical machinery, instruments and appliances" (up 20.3%) and "Miscellaneous products" (up 33.6%) [4] - For the first nine months of 2025, significant export increases were noted in "Electrical machinery, instruments and appliances" (up 15.9%) and "Office machines and automatic data processing machines" (up 30.1%) [4]

Group 1 - The company currently does not have direct OCS (Optical Circuit Switching) switch products [2] - The company's R&D resources are primarily focused on the development and mass production of core technologies such as servers, communication, high-layer PCBs for aerospace, and advanced packaging substrates [2] - The company will continue to monitor industry technology trends and actively invest in cutting-edge fields [2]

Core Viewpoint - The company currently does not have direct OCS (Optical Circuit Switching) switch products and is focusing its R&D resources on core technologies such as servers, communication, aerospace high-multilayer PCBs, and advanced packaging substrates [1] Group 1 - The company is actively monitoring industry technology trends and is committed to laying out strategies in cutting-edge fields [1]

Core Insights - Hong Kong's overall export value in August 2025 reached HKD 436.6 billion, marking a year-on-year increase of 14.5%, continuing a growth trend for 18 consecutive months [1][3] Export Performance - Exports to Asia increased by 12.6%, with notable growth from Malaysia (73.6%), Vietnam (54.3%), the Philippines (36.9%), Taiwan (33.7%), Thailand (28.9%), and mainland China (8.2%) [1][3] - Exports to other regions also saw significant increases, particularly to the Netherlands (65.7%), the UK (55.8%), and the US (17.3%) [1][3] Product Categories - Most product categories experienced year-on-year growth in export value, especially "electrical machinery, instruments, and parts," which increased by HKD 29.4 billion (15.7%), and "communication, recording, and sound equipment and instruments," which rose by HKD 11 billion (23.9%) [1][3] Import Performance - In August 2025, the import value of goods was HKD 462 billion, reflecting an 11.5% increase compared to the same month last year [3] Economic Context - The increase in exports is attributed to the sustained economic growth in Asia, particularly mainland China, and the strengthening of trade ties between Hong Kong and various markets [3] - The uncertain trade outlook between the US and China may lead exporters to explore new markets in Southeast Asia, potentially driving further export growth [3]

Core Insights - Hong Kong's overall export and import values recorded year-on-year increases in August 2025, with exports rising by 14.5% and imports by 11.5% compared to August 2024 [1] - The trade deficit for August 2025 was HKD 25.4 billion, equivalent to 5.5% of the import value [1] - For the first eight months of 2025, both export and import values increased by 13.0% compared to the same period in 2024, with a trade deficit of HKD 243.3 billion, or 6.8% of imports [1] Export Performance - In August 2025, exports to Asia increased by 12.6%, with significant growth to Malaysia (73.6%), Vietnam (54.3%), and the Philippines (36.9%) [2] - Exports to other regions also saw increases, particularly to the Netherlands (65.7%), the UK (55.8%), and the US (17.3%) [2] - For the first eight months of 2025, exports to Vietnam rose by 52.7%, Malaysia by 45.3%, and Taiwan by 39.8% compared to the same period in 2024 [2] Import Performance - Import values from major suppliers increased, especially from Vietnam (80.8%), Malaysia (14.6%), and Japan (13.3%) [2][3] - In August 2025, imports from Vietnam rose by 81.1%, while imports from South Korea decreased by 17.5% [3] - For the first eight months of 2025, imports from Taiwan increased by 30.2% and from Malaysia by 21.4% compared to the same period in 2024 [3] Commodity Categories - In August 2025, the export value of "electrical machinery, instruments, and parts" increased by HKD 29.4 billion (15.7%), while "communication, recording, and sound equipment" rose by HKD 11 billion (23.9%) [3][4] - The import value of "electrical machinery, instruments, and parts" also increased by HKD 28.5 billion (15.2%), and "communication, recording, and sound equipment" by HKD 14.2 billion (32.4%) [3][4] - For the first eight months of 2025, exports of "electrical machinery, instruments, and parts" rose by HKD 209.9 billion (14.9%), and "office machines and automatic data processing equipment" by HKD 125.8 billion (37.6%) [4] Future Outlook - The Hong Kong government anticipates continued support for trade performance from the ongoing economic growth in Asia, particularly in mainland China, and closer economic ties with various markets [4] - However, US trade policies are expected to impact the short-term outlook for international trade flows [4]