知行合一

1. The Ministry of Culture and Tourism reminds Chinese tourists to avoid traveling to Japan recently, as "coupon hunters" use AI-generated fake images to claim refunds, with products under 100 yuan becoming a major disaster zone. Lei Jun responds to vehicle safety concerns. The Ministry of Culture and Tourism and the Ministry of Education jointly remind tourists and international students to exercise caution when traveling to Japan due to deteriorating public safety and an increase in cases targeting Chinese citizens. Recently, "coupon hunters" on e-commerce platforms have been using AI to fabricate product defects to fraudulently obtain refunds, forming an industrial chain. Lei Jun has repeatedly stated that Xiaomi cars prioritize both aesthetics and safety, countering criticisms taken out of context online. For more details, please click 8 点 1 氪｜The Ministry of Culture and Tourism reminds Chinese tourists to avoid traveling to Japan recently; “coupon hunters” use AI-generated fake images to claim “refunds only”: products under 100 yuan become a major disaster zone; Lei Jun continuously responds to doubts## 2. Faraday Future's Q3 financial report delayed, will be submitted within compliance deadline. Faraday Future announced that its strategic investment holding QLGN will be renamed AIxCrypto, with a change in stock code. Due to the impact of the first consolidated financial statements of two listed companies, the workload for the Q3 financial report has significantly increased, and it must wait for the completion of the AIxC financial report. The company promises to complete the financial report disclosure within the compliance time, no later than the 19th. For more details, please click Faraday Future: Q3 financial report disclosure time slightly delayed, will be submitted within compliance deadline## 3. CICC states that the A-share bull market has not yet peaked, maintains overweight recommendation. CICC stated that A-shares benefit from AI technology and ample liquidity, with reasonable valuations. Although volatility may increase at the end of the year, signals of a bull market peak have not yet appeared, and it is recommended to continue overweighting. While the US stock market is optimistic, its elasticity is relatively low, and there are differentiated recommendations for asset allocations such as gold, Chinese bonds, and the US dollar. For more details, please click CICC: No signals of a peak in the A-share bull market have been seen, recommends maintaining overweight## 4. Several "five-dime funds" successfully recover capital, redemption pressure emerges. This year, the net value of equity funds has generally increased, with several low-priced funds successfully turning around. However, many holders choose to sell once they break even, leading to limited or even declining growth in fund shares. Industry analysis indicates that the "break-even" range easily triggers redemptions, and investors are showing a clear tendency to secure profits. For more details, please click Several "five-dime funds" perform turnaround, "sell once breaking even" exerts significant pressure## 5. CITIC Securities: The RMB exchange rate may gradually converge with the midpoint. CITIC Securities stated that in the third quarter of this year, China's exports and foreign investment fluctuations affected the exchange rate, with the US dollar index dominating the short-term direction. Under policies stabilizing the exchange rate, it is expected that in the fourth quarter, the RMB exchange rate will gradually converge with the midpoint amid fluctuations. For more details, please click CITIC Securities: The RMB exchange rate is expected to gradually converge with the midpoint amid fluctuations## 6. Public REITs' new issuance returns continue to decline, market cooling significantly. The public REITs market has been affected by the secondary market correction, with new issuance returns significantly decreasing and even experiencing breakage. The concentrated release of restrictions at the end of the year will further test the market's 承压能力，and investor enthusiasm for subscriptions has turned cautious. For more details, please click From guaranteed profits in new issuance to breakage upon listing, the REITs market is cooling## 7. Galaxy Securities: The long-term value of quality content production companies remains unchanged, AI innovation aids industry transformation. Galaxy Securities believes that by 2025, the media sector will perform outstandingly driven by AI. The long-term value of quality content production companies remains scarce, and the productivity revolution empowered by AI is expected to unlock new business models and profit methods, enhancing content monetization capabilities. For more details, please click Galaxy Securities: The long-term value of quality content production companies in the media industry remains unchanged## 8. CICC forecasts that the gold bull market may not yet be over, may break through $5000 next year. CICC's 2026 outlook indicates that the current gold bull market's increase and duration are still lower than historical strong cycles. It is expected that if the current macro trends continue, gold prices may break through $5000 per ounce by 2025, unless there is a significant change in Federal Reserve policy. For more details, please click CICC: This round of the gold bull market may not yet be over, and a breakthrough of $5000 next year cannot be ruled out## 9. Cross-border ETFs frequently show premiums, caution is needed for high buying in short-term risks. Several cross-border ETFs have recently shown premiums in the secondary market, with significant short-term valuation mismatches. Market participants remind that the overall expansion of the ETF track is accelerating, but the risks of high buying in short-term trading are significant, and rational participation is necessary. For more details, please click Cross-border ETFs frequently issue premium warnings: short-term mismatches are common, high buying risks are significant## 10. Jiarong Technology temporarily suspends trading, will resume after major announcement disclosure. Xiamen Jiarong Technology Co., Ltd. has suspended trading since the market opens on November 17 due to plans to disclose major matters. The company announced that it will resume trading after relevant matters are disclosed through designated media, and investors need to pay close attention. For more details, please click Shenzhen Stock Exchange: Jiarong Technology's stock temporarily suspended, will resume after relevant announcement disclosure## 11. International gold prices fluctuate at high levels, new trends in domestic consumption emerge. Recently, international gold prices have continued to rise, with domestic gold jewelry, gold bars, and other consumer goods being favored. Industry insiders say that risk aversion sentiment is driving up gold prices, and consumers should make rational purchases or investments, paying attention to gold price fluctuations and personal demand matching. For more details, please click Gold prices remain high, new trends in gold consumption emerge## 12. Qiaotian Intelligent completes tens of millions in A+ round financing, accelerating domestic substitution of robot end equipment. Robot end equipment manufacturer Qiaotian Intelligent has received tens of millions in A+ round financing from Zhejiang Venture Capital, with a product line covering quick-change devices, magnetic mold changing systems, etc., and revenue growth of nearly 60%. The founder and core team actively promote the combination of "hardware + software," focusing on high-threshold low-competition tracks, benchmarking against international giants, with significant domestic substitution potential. For more details, please click Former Japanese Shadek production plant manager's startup benchmarks Atlas, serving Geely and Mercedes-Benz, core product shipments have exceeded 100,000 units｜36Kr exclusive## 13. The RMB to USD midpoint rate is reported at 7.0816, up 9 points. The RMB to USD midpoint rate is reported at 7.0816, reflecting an increase of 9 points. This move reflects the management's flexible control of the exchange rate to maintain market stability. For more details, please click RMB to USD midpoint rate reported at 7.0816, up 9 points## 14. The Hang Seng Index opens down 0.49%, the technology index down 0.71%. The Hang Seng Index opened down 0.49%, and the technology index fell 0.71%. The automotive, non-ferrous metals, and media sectors led the decline, while durable consumer goods and semiconductor sectors rose against the trend, with some individual stocks performing outstandingly. For more details, please click Hang Seng Index opens down 0.49%, Hang Seng Technology Index down 0.71%## 15. The central bank conducts 283 billion yuan 7-day reverse repurchase operation today, interest rate unchanged. The People's Bank of China conducted a 283 billion yuan 7-day reverse repurchase operation today, with the winning rate maintained at 1.40%, indicating stable liquidity management. For more details, please click Central Bank conducts 283 billion yuan 7-day reverse repurchase operation today## 16. The three major A-share indices open lower collectively, CATL falls over 3%. The main A-share indices opened lower collectively, with the Shanghai Composite Index down 0.05%, the Shenzhen Component Index down 0.12%, and the ChiNext Index down 0.46%. The electrical grid, precious metals, and automotive sectors weakened, with leading stocks like CATL experiencing significant declines. For more details, please click Three major A-share indices open lower collectively, CATL falls over 3%## 17. SenseTime Medical secures hundreds of millions in strategic financing, post-A round valuation exceeds 3 billion yuan. SenseTime Medical announced the completion of hundreds of millions in Pre-A+ round financing, with a new A round starting, and post-financing valuation exceeding 3 billion yuan. The company focuses on AI large language models and multimodal medical image models, promoting the productization and market expansion of smart hospital processes. For more details, please click “SenseTime Medical” secures hundreds of millions in strategic financing, post-A round valuation exceeds 3 billion yuan | 36Kr exclusive## 18. Xunyi Technology C+ round secures tens of millions in financing, intensifying low-altitude logistics R&D. Low-altitude logistics company Xunyi Technology has received tens of millions in C+ round financing from the governments of Hangzhou and Zigong, with funds used for product R&D and market expansion, aiding the company's business upgrade. For more details, please click “Xunyi Technology” C+ round secures tens of millions in financing from Hangzhou and Zigong governments## 19. Spot silver rises over 1% during the day, reported at $51.09 per ounce. The spot silver price has risen over 1% during the day, currently reported at $51.09 per ounce, with significant fluctuations in the precious metals market. For more details, please click Spot silver rises over 1% during the day## 20. Goldman Sachs is in talks to acquire Burger King's business in Japan. According to reports, Goldman Sachs is negotiating with relevant parties to acquire Burger King's business in the Japanese market, taking a further step in its strategic layout in the Japanese food and beverage sector. For more details, please click Goldman Sachs is in talks to acquire Burger King's business in Japan## 21. The trading volume of the Shanghai and Shenzhen stock markets exceeds 500 billion yuan. Today, the trading volume of the Shanghai and Shenzhen stock markets has exceeded 500 billion yuan, indicating a high level of market trading activity. For more details, please click The trading volume of the Shanghai and Shenzhen stock markets exceeds 500 billion yuan## 22. Alibaba's Qianwen App launches public beta, fully entering the AI to C market. Alibaba officially launched the public beta version of the "Qianwen" App, clearly entering the AI to C track. The application will integrate life scenarios such as maps, ticketing, and shopping in the future, creating a powerful life assistant to compete directly with ChatGPT. For more details, please click Alibaba's Qianwen App launches public beta, fully entering the AI to C market## 23. Huawei Mate 80 series and multiple new products will be released on November 25. Huawei announced that it will hold a new product launch conference on November 25, releasing the Mate 80 series, Mate X7, and multiple new products across various scenarios, enhancing its product matrix and innovation capabilities. For more details, please click Huawei: A new product launch conference will be held on November 25, releasing the Huawei Mate 80 series and other new products#