Zhitong Hong Kong Stock Early Knowledge | The central enterprise strategic emerging industry development special fund has been launched, and CICC's net profit attributable to shareholders for the first three quarters is approximately 6.567 billion yuan

[Today's Headlines]

The Central Enterprise Strategic Emerging Industry Development Special Fund Launched with an Initial Scale of 51 Billion Yuan

Initiated by the State-owned Assets Supervision and Administration Commission of the State Council, the Central Enterprise Strategic Emerging Industry Development Special Fund, established and managed by China Reform Holdings Corporation, was launched in Beijing. The fund is now ready for investment and will help accelerate the development of strategic emerging industries. The initial scale of the fund reaches 51 billion yuan, with China Reform planning to contribute approximately 15 billion yuan. The investment period of the fund is 5 years, with a management and exit period of 8 years, during which the investment period can be extended by up to 2 years, totaling 15 years. As a special fund promoted by the State-owned Assets Supervision and Administration Commission to accelerate the development of strategic emerging industries in central enterprises, it will support state-owned central enterprises in addressing industrial weaknesses and layout frontier innovations, further enhancing core functions and competitiveness. It will focus on supporting strategic emerging industries such as artificial intelligence, aerospace, high-end equipment, quantum technology, as well as future industries in key areas like future energy, future information, and future manufacturing. According to the deployment of the State-owned Assets Supervision and Administration Commission, the Central Enterprise Strategic Emerging Fund will center on serving national strategic needs, strengthen and supplement the industrial chain, promote the simultaneous improvement of scale and quality in strategic emerging industries of central enterprises, accelerate the layout and development of these industries, and promote high-level self-reliance and strength in key national fields.

[Market Outlook]

Overnight, U.S. stocks closed with the Dow Jones Industrial Average down 74.37 points from the previous trading day, closing at 47,632.0 points, a decrease of 0.16%; the S&P 500 index fell 0.3 points, closing at 6,890.59 points, a change of -0.0%; the Nasdaq Composite Index rose 130.98 points, closing at 23,958.47 points, an increase of 0.55%. The Federal Reserve cut interest rates by 25 basis points for the second consecutive time and announced the cessation of balance sheet reduction starting in December, with Powell stating that a pause in rate cuts in December is possible.

Large tech stocks rose broadly, with Nvidia up nearly 3%, pushing its total market value above $5 trillion. Apple saw a slight increase, closing with a total market value exceeding $4 trillion for the first time. Google rose over 6% in after-hours trading; Microsoft fell over 4% in after-hours; Meta dropped nearly 8% at one point in after-hours. The U.S. stock storage sector collectively rose, with SanDisk up over 16%, Western Digital up over 13%, and Seagate Technology up over 19%. Popular Chinese concept stocks had mixed results, with Alibaba rising nearly 2%. The Hang Seng Index ADR rose, closing at 26,606.21 points, up 260.07 or 0.99% compared to the Hong Kong closing.

[Hot Topics Ahead]

The Federal Reserve Again Cuts Rates by 25 Basis Points, Powell States December Rate Cut is Not Certain

According to Zhitong Finance APP, the Federal Reserve cut rates for the second consecutive time on Wednesday, but Chairman Powell's subsequent remarks significantly cooled the market, as he expressed notable uncertainty about whether there would be another rate cut in December. The Federal Open Market Committee voted 10 to 2 to lower the federal funds target rate range to 3.75%-4%, while announcing the end of balance sheet reduction (QT) on December 1.

The 14th Five-Year Plan Recommendations Released: Full Chain Promotion of Key Core Technology Breakthroughs in Integrated Circuits, Industrial Mother Machines, High-end Instruments, Basic Software, Advanced Materials, and Biomanufacturing The Central Committee of the Communist Party of China has released recommendations for the formulation of the 15th Five-Year Plan for national economic and social development. It points out the need to strengthen original innovation and tackle key core technologies. The new type of national system should be improved, with extraordinary measures taken to promote decisive breakthroughs in key core technologies in areas such as integrated circuits, industrial mother machines, high-end instruments, basic software, advanced materials, and biomanufacturing.

Hong Kong Monetary Authority: Digital Hong Kong Dollar to be promoted for personal use, preparation work expected to be completed in the first half of next year

The Hong Kong Monetary Authority stated in its "Digital Hong Kong Dollar Pilot Scheme Phase Two Report" that there are eleven pilot groups participating in the second phase of the project, covering three major themes: tokenized asset settlement, programmable payments, and offline payments. The report emphasizes that the "Digital Hong Kong Dollar" will gradually expand to individual users, with preparations for related technology, legal, and commercial mechanisms expected to be completed in the first half of 2026.

The 11th batch of national organized drug procurement opens bidding, 55 drugs successfully procured

The 11th batch of national organized drug procurement opened bidding on October 27 in Shanghai, resulting in proposed selection outcomes. A total of 55 drugs were successfully procured, with 453 products from 272 companies obtaining proposed selection qualifications. A new batch of commonly used and life-saving drugs covering chronic diseases and major diseases has been added, involving anti-infection, anti-tumor, anti-allergy asthma, diabetes medications, and cardiovascular disease medications. The proposed selection results will be officially released after public announcement.

Financial Regulatory Administration: Support domestic insurance companies willing to issue "sidecar" insurance-linked securities in the Hong Kong market

On October 28, the Financial Regulatory Administration issued a notice regarding the issuance of insurance-linked securities by domestic insurance companies in the Hong Kong market, supporting domestic insurance companies in issuing "sidecar" insurance-linked securities and clarifying relevant requirements.

XuanZhu Biotechnology-B (02575): NG-350A granted Fast Track designation by the US FDA

According to Zhitong Finance APP, XuanZhu Biotechnology-B (02575) announced that its product NG-350A, licensed from clinical-stage oncology company AkamisBio Ltd. (Akamis), has been granted Fast Track designation by the US Food and Drug Administration (FDA) for the treatment of locally advanced rectal cancer (LARC) with proficient mismatch repair (pMMR). The group holds exclusive rights for the development, production, and commercialization of the NG-350A product in the Greater China region.

JianShi Technology-B (09877) multi-product portfolio LuX-Valve Plus TRINITY study, JensClip and Ken-Valve clinical results to be presented at TCT 2025 in the US

According to Zhitong Finance APP, JianShi Technology-B (09877) announced that recent results from the global multicenter clinical trial (TRINITY) of the LuX-Valve Plus transcatheter tricuspid valve replacement (TTVR) system, including 6-month clinical follow-up results and evidence of efficiency and safety via the transjugular approach, as well as 1-year follow-up results and application effects of the JensClip transcatheter mitral valve repair (TMVr) system and Ken-Valve transcatheter aortic valve replacement (TAVR) system, will be presented at the TCT 2025 conference in San Francisco, USA Sihuan Pharmaceutical (00460): NG-350A Granted Fast Track Designation by the US FDA

According to Zhitong Finance APP, Sihuan Pharmaceutical (00460) announced that its non-wholly-owned subsidiary, XuanZhu Biotechnology Co., Ltd. (XuanZhu), has received Fast Track designation from the US Food and Drug Administration (FDA) for the product NG-350A, which was licensed from clinical-stage oncology company AkamisBio Ltd. (Akamis), for the treatment of locally advanced rectal cancer (LARC) with proficient mismatch repair (pMMR). XuanZhu holds exclusive rights for the development, production, and commercialization of NG-350A in the Greater China region.

Jiangsu Ninghu Highway (00177) Plans to Increase Investment in Danjin Company by Approximately 2.6366 Billion Yuan

According to Zhitong Finance APP, Jiangsu Ninghu Highway (00177) announced that to meet the funding needs for the Danjin project and ensure the smooth progress of the project, the company plans to conduct a cash capital increase in Danjin Company in proportion to its shareholding, together with another shareholder of Danjin Company, Changzhou Jiaokong. The company will contribute approximately RMB 2.6366 billion, while Changzhou Jiaokong will contribute approximately RMB 898 million.

China International Marine Containers (CIMC) (03899) Reports a Net Profit Attributable to Shareholders of 767 Million Yuan for the First Three Quarters, Up 12.9% Year-on-Year

According to Zhitong Finance APP, China International Marine Containers (CIMC) (03899) announced that for the first three quarters of 2025, the group achieved revenue of RMB 19.348 billion, an increase of 7.7% year-on-year; net profit of RMB 794 million, an increase of 12.2% year-on-year; and profit attributable to shareholders of RMB 767 million, an increase of 12.9% year-on-year. In the third quarter, the group achieved revenue of RMB 6.734 billion, an increase of 3.8% year-on-year; net profit of RMB 213 million, an increase of 4.3% year-on-year; and profit attributable to shareholders of RMB 204 million, an increase of 6.2% year-on-year.

Sinopec (00386): Third Quarter Net Profit Attributable to Shareholders is 8.501 Billion Yuan, Down 0.5% Year-on-Year

Sinopec announced on October 29 that in the third quarter of 2025, it achieved operating revenue of RMB 704.389 billion, a decrease of 10.90% year-on-year; net profit attributable to shareholders of the listed company was RMB 8.501 billion, a decrease of 0.50% year-on-year; basic earnings per share were RMB 0.07. For the first three quarters, it achieved operating revenue of RMB 2.11 trillion, a decrease of 10.70% year-on-year; net profit attributable to shareholders of the listed company was RMB 29.984 billion, a decrease of 32.20% year-on-year; basic earnings per share were RMB 0.247.

Midea Group (00300) Reports Net Profit Attributable to Shareholders of Approximately 37.883 Billion Yuan for the First Three Quarters, Up 19.51% Year-on-Year

According to Zhitong Finance APP, Midea Group (00300) announced its performance for the first three quarters of 2025, with operating revenue of approximately RMB 363.057 billion, an increase of 13.82% year-on-year; net profit attributable to shareholders of the listed company was approximately RMB 37.883 billion, an increase of 19.51% year-on-year; basic earnings per share were RMB 4.98 Shandong Gold (01787) Announces Third Quarter Results with Net Profit of Approximately 3.956 Billion Yuan, a Year-on-Year Increase of 91.51%

According to Zhitong Finance APP, Shandong Gold (01787) announced its performance for the first three quarters of 2025, with operating income of approximately 83.783 billion yuan, a year-on-year increase of 25.04%; net profit attributable to shareholders of the listed company was approximately 3.956 billion yuan, a year-on-year increase of 91.51%; basic earnings per share were 0.8 yuan.

MGM China (02282) Reports Adjusted EBITDA of Approximately 2.373 Billion HKD for the Third Quarter, a Year-on-Year Increase of 19.6%

According to Zhitong Finance APP, MGM China (02282) announced its performance for the third quarter of 2025, with total revenue of approximately 8.51 billion HKD, a year-on-year increase of 17.39%, mainly due to an increase in betting amounts at the main gaming tables. Adjusted EBITDA was approximately 2.373 billion HKD, a year-on-year increase of 19.6%.

Guoquan (02517) Achieves Core Operating Profit of Approximately 65 Million to 75 Million Yuan in the Third Quarter, a Year-on-Year Increase of Approximately 44.4% to 66.7%

According to Zhitong Finance APP, Guoquan (02517) released its latest business situation for the third quarter of 2025, with the group steadily expanding its instant retail stores, net adding 361 stores in the third quarter of 2025, a year-on-year increase of 98% compared to the third quarter of 2024, bringing the total number of stores to 10,761 as of September 30, 2025. The group achieved revenue (unaudited or reviewed) of approximately 1.85 billion to 2.05 billion yuan in the third quarter of 2025, a year-on-year increase of approximately 13.6% to 25.8%; the group achieved core operating profit (unaudited or reviewed) of approximately 65 million to 75 million yuan in the third quarter of 2025, a year-on-year increase of approximately 44.4% to 66.7%. The group has achieved continuous improvement in operational efficiency.

Hisense Home Appliances (00921) Releases Third Quarter Results with Net Profit of 2.8118 Billion Yuan, a Year-on-Year Increase of 0.67%

According to Zhitong Finance APP, Hisense Home Appliances (00921) released its performance for the first three quarters, achieving operating income of 71.5327 billion yuan, a year-on-year increase of 1.35%; net profit attributable to shareholders of the listed company was 2.8118 billion yuan, a year-on-year increase of 0.67%. Basic earnings per share were 2.06 yuan.

Fosun Pharma (02196) Releases Third Quarter Results with Net Profit of 2.523 Billion Yuan, a Year-on-Year Increase of 25.5%

According to Zhitong Finance APP, Fosun Pharma (02196) released its performance for the nine months ending September 30, 2025, with the group achieving operating income of 29.393 billion yuan, a year-on-year decrease of 4.91%; net profit attributable to shareholders of the listed company was 2.523 billion yuan, a year-on-year increase of 25.5%; basic earnings per share were 0.95 yuan.

Ping An Insurance (02318) Reports Net Profit of 132.856 Billion Yuan for the First Three Quarters, a Year-on-Year Increase of 11.5% Zhitong Finance APP news, Ping An Insurance (02318) announced that in the first three quarters of 2025, the group achieved an operating profit attributable to shareholders of the parent company of 116.264 billion yuan, a year-on-year increase of 7.2%. The net profit attributable to shareholders of the parent company was 132.856 billion yuan, a year-on-year increase of 11.5%, with a significant year-on-year growth of 45.4% in the third quarter; operating revenue was 901.668 billion yuan, a year-on-year increase of 4.6%. As of September 30, 2025, the group's equity attributable to shareholders of the parent company was 986.406 billion yuan, an increase of 6.2% compared to the beginning of the year.

Tianqi Lithium (09696): Third quarter net profit of 95.4855 million yuan, a year-on-year increase of 119.26%

Tianqi Lithium announced that the revenue for the third quarter was 2.565 billion yuan, a year-on-year decrease of 29.66%; the net profit was 95.4855 million yuan, a year-on-year increase of 119.26%. Revenue for the first three quarters was 7.397 billion yuan, a year-on-year decrease of 26.50%; net profit was 180 million yuan, a year-on-year increase of 103.16%.

【Stock Highlights】

CICC (03908) announced a net profit attributable to the parent company of approximately 6.567 billion yuan for the first three quarters, a year-on-year increase of 129.75%

Zhitong Finance APP news, CICC (03908) announced that in the first nine months of 2025, it achieved operating revenue of approximately 20.761 billion yuan, a year-on-year increase of 54.36%; the net profit attributable to shareholders of the parent company was approximately 6.567 billion yuan, a year-on-year increase of 129.75%; basic earnings per share were 1.24 yuan