[Important Data] [Zhitong Views] 1. As of the close of the market overnight, the Dow Jones Index fell 23.29 points, or 0.08%, to 29,397.63 points; the S&P 500 rose 27.62 points, or 0.78%, to 3,573.15 points; the Nasdaq Comprehensive Index rose 232.57 points, or 2.01%, to 11,786.4

[Important Data]

[Zhitong Views]

1. As of the close of overnight, the Dow Jones Index fell 23.29 points, or 0.08%, to 29397.63 points; the S&P 500 rose 27.62 points, or 0.78%, to 3573.15 points; the Nasdaq Comprehensive Index rose 232.57 points, or 2.01%, to 11,786.43 points. The Hong Kong stock ADR index was improving throughout the day, and closed at 26,513 points, up 287.3 points or 1.08%.

2. Zhou Xiaochuan, former Governor of the Central Bank: Internet technology giants control a large amount of data and market share, forming a monopoly to curb fair competition. The overseas market has never stopped antitrust supervision of technology giants, and China has begun to pay attention to this issue. It has an impact on the industry leaders in the short term and is beneficial to the healthy development of China's entire Internet industry in the medium and long term.

3 and "Intelligent Connected Vehicle Technology Roadmap 2.0" are officially released. By 2035, China's solution will have a comprehensive construction of intelligent connected vehicles technology and industrial system, the industrial ecology will be improved, the level of intelligent vehicle of the whole vehicle will be significantly improved, and the large-scale application of connected highly autonomous driving connected vehicles will be carried out. Pay attention to the trend changes after adjustments in the stock prices of automobile sectors such as BYD (01211), Geely Automobile (00175).

4. The website of the State Drug Administration issued the "Notice of the National Medical Products Administration's Comprehensive Department on Strengthening the Quality Supervision of Coronary Stents in the National Centralized Volume Procurement". The notice stated that the provincial drug regulatory departments of the selected enterprises should increase the on-site inspection of enterprises, organize capable and professional forces to supervise and inspect the entire project of the selected enterprises at least once a year, and report the inspection status to the Device Supervision Department of the National Medical Products Administration at the end of each year. The latest supervision and inspection should be completed before the end of 2020. Minimally Invasive Medical (00853) continues to find the bottom.

5 and SMIC (00981) hit a new high in the third quarter, and its profit attributable to shareholders increased by 123 times year-on-year to US$256 million. It is worth noting that the financial report shows other changes in operating income. In the third quarter, the government project funds were obtained at US$137 million (US$40 million in the second quarter), and the foreign exchange income increased by more than US$60 million in the third quarter because of the appreciation of the RMB; in the fourth quarter, the quarterly revenue decreased by 10% to 12% month-on-month; the gross profit margin was between 16% and 18%.

6. In the early morning of November 12, Taobao Tmall President Jiang Fan revealed to the media that according to the same cycle and caliber, the GMV during this year's Double 11 increased by 103.2 billion compared with the same period last year, with a growth rate of 26%. This is the highest growth rate in the past three years. "Under the same cycle and caliber, Tmall's Double Eleven sales this year increased by 26% compared with last year." Jiang Fan said. National Postal Bureau monitoring data showed that on November 11, a total of 675 million express parcels were processed, an increase of 26.16% year-on-year, setting a new record high. Pay attention to the fluctuations in the stock price of YTO Express International (06123) and ZTO Express-SW (02057).

7 and China Software International (00354) issued an announcement that the company recently signed a HUAWEI HiLink ecological service cooperation agreement with Huawei Terminal Co., Ltd. Relying on the development and service capabilities of the bases such as Hongmeng OS, HMS (Huawei Mobile Services) and HiLink platform, the company has become a HUAWEI HiLink ecological solution service provider, and has joined hands with Huawei to develop and serve the HUAWEI HiLink ecological partner to help the HUAWEI HiLink ecosystem prosper. According to well-known domestic technology media, the mobile version of Hongmeng OS system will officially open the Bate test version on December 18. At the same time, more than 90% of Huawei mobile phones can upgrade the Hongmeng OS system. The upgrade channels will be provided to some Huawei mobile phone users in January and February next year. After a series of verifications, a full opening and upgrading will be achieved, which means that less than 40 days left, the mobile version of Hongmeng OS system will officially meet consumers.

8. Liu Liehong, Vice Minister of the Ministry of Industry and Information Technology, said at the 2020 China Development High-level Forum on the evening of November 11 that China has built nearly 700,000 5G base stations this year, which is more than the total amount added to the world outside China. The data far exceeded expectations at the beginning of the year, so pay attention to the bottoming trend of China Tower (00788). As well as the stock prices of Chinese telecommunications stocks China Telecom (00728), China Unicom (00762), and China Mobile (00941).

9. According to the WeChat official account of " Sinopharm Group ", Sinopharm Group's Phase III clinical trials of China's biological vaccine are being successfully promoted in countries such as UAE , Bahrain , Egypt , Jordan , Morocco, Peru , Argentina, and other countries, and have entered the final sprint stage. There are more than 50,000 vaccination volunteers, and the sample population covers 125 nationalities. Phase III clinical trials of vaccines conducted in many countries are now coming to an end, and all the data in the trial are better than expected. Pay attention to the fluctuations in the share prices of Sinopharm Holdings (01099) and CanSino Biologics-B (06185).

[Company News]

Kangfang Bio-B(09926): CD47 monoclonal antibody (AK117) The first progress of human clinical research was presented on SITC 2020

Kangfang Bio-B(09926): Paimumab showed significant clinical benefits in r/r cHL subjects Objective relief rate (ORR) reaches 83.6%

Fano Group (08153) will be included in MSCI Hong Kong Micro Stock Index

R&F Properties (02777) subsidiary intends to issue US$360 million 12.375% priority notes

China Railway Corporation (00390) won several major projects The winning bid price is 57.199 billion

Okangweishi Biologics-B (01477): Intraocular pressure-lowering drug OT-301 starts the second phase III clinical trial in the United States

Dingfeng Group Holdings (06878) was selected as the constituent stock of the MSCI China Small Cap Index

Greentown Management Holdings (09979) will be included in the constituent stock of the MSCI China Small Cap Index

Ah Li Film (01060) shares stopped trading on the SGX from November 12th

Zijin Mining (02899) increased capital to its subsidiary by a total of 5.97 billion yuan

Blue Light Jiabao Service (02606) completed the full circulation of H shares

Rainbow New Energy (00438) suggested reducing shares and reducing capital

Huarong Financial Holding (00993) privatization Huarong Investment (02277) has taken effect The latter shares revoked their listing status on November 12

China Energy Construction (03996) affiliated to sign the EPC general contract for the No. 1 350 MW wind power project in Jinou, Vietnam

China Evergrande (03333) spent 84.9098 million Hong Kong dollars on November 11 to repurchase 4.9 million shares

Jiu Mao Jiu (09922): Shareholders GYH BVI and MT BVI reduced its holdings of 23.5 million shares and 13 million shares of the company

Shenzhou International (02313) and received a total of 37.5658 million shares of the company

Kanglong Huacheng (03759) by Junlian Wenda and its joint actors to reduce their holdings of 5% of the shares of

due to equity options exercise Longfor Group (00960) issued a total of 3.6835 million shares

GAC Group (02238) was approved by the Guangzhou State-owned Assets Supervision and Administration Commission to implement the A-share stock options and restricted stock incentive plan

Huili Technology (01860) is expected to repurchase additional shares for up to HK$100 million to meet the needs of restricted share unit plans

Genting Hong Kong (00678) plans to sell Genting Macau 50% equity

[Financial Report Data]

Yihui Group (08161) interim performance turned losses into profits to HK$3.908 million

turned losses into profits Asia Pacific Financial Investment (08193) medium-term profit attributable to shareholders was HK$3.811 million

SMIC (00981) in the third quarter net profit hit a new high, and the profit attributable to shareholders increased by 1.23 times year-on-year to US$256 million

Xinhua Insurance (01336) original insurance premium income was 145.153 billion yuan in the first 10 months, an increase of 22.65% year-on-year

Unified Enterprise China (00220) after-tax profit increased by 18.3% to 1.683 billion

both revenue and profit hit a new high The profit attributable to shareholders of the Hong Kong Stock Exchange (00388) increased by 16% to HK$8.58 billion in the first three quarters

Aoyou (01717) The profit attributable to equity holders of the first three quarters was 712 million yuan, an increase of 14% year-on-year

Hongteng Precision (06088) net profit in the first nine months of operation was approximately US$82.513 million

paid 5 Hong Kong cents per share Deyongjia Group (00321) The profit attributable to shareholders of the mid-term decrease by 33.8% to HK$140 million

paid 17 Hong Kong cents per share Dechang Electric Holdings (00179) net profit attributable to shareholders in the medium term fell 38% to US$101 million

Fuzhikang Group (02038) lost 80.32% year-on-year to US$115 million

Dongyao Pharmaceutical-B (01875) revenue in the first three quarters reached 18.447 million

Hanguo Real Estate (0 0160) The profit attributable to shareholders in the medium term is expected to decrease by 60%

Jianye Industrial (00216) The profit attributable to shareholders in the medium term is expected to decrease by 61%

[Macro and Industry]

1. The official website of the central bank shows that China's social financing scale increased by 1420 billion yuan in October, and was expected to reach 1400 billion yuan, with the previous value of 3480 billion yuan.China's M2 money supply in October was 10.5% year-on-year, compared with the previous value of 10.9%; China's M0 money supply in October was 10.4% year-on-year, compared with the previous value of 11.1%; China's M1 money supply in October was 9.1% year-on-year, compared with the previous value of 8.1%.

2. Tang Dengjie, deputy director of the National Development and Reform Commission, said at the 2020 China Development High-Level Forum on the evening of the 11th that China's total economic output accounts for 16.3% of the world in 2019, and the GDP this year will exceed 100 trillion yuan. With the sharp decline in the world economic growth rate and the general sluggish major economies, China's economy has become the main driving force for global economic growth.

3, several OPEC + representatives said that the OPEC+ negotiations are currently focusing on postponing the oil production increase plan originally scheduled to start next year for three to six months. Saudi and Russia have previously publicly stated that they are considering whether to postpone the increase in production scheduled for January next year as the rebound in the health incident hits fuel demand. Russia and OPEC leaders even proposed options to further increase production cuts, but one representative said the idea has so far not been widely supported by other member states. Since the negotiations were conducted privately, the OPEC+ representative who disclosed the news asked not to be named.

4 and Alibaba released AI data during Tmall Double 11. As of now, the number of AI calls has exceeded 15 trillion times, equivalent to 800 million consumers using 20,000 times per person. Among them, AI processes 16.5 billion pictures, processes over 35 million videos, and AI translated vocabulary as high as 3.7 trillion. Alibaba CTO Cheng Li believes that Double 11 has become a super-large-scale digital innovation project for the whole society.

5. Data shows that the small home appliance industry has continued the popularity of Double Eleven in previous years. From November 1 to 1:00 on November 1, the transaction volume of 70 home appliance 3C brands including Apple, Huawei, Midea, Haier, Gree, Xiaomi, , Dyson, , Tmall Double Eleven exceeded 100 million. Consumers prefer domestic brands, and 80% of the "billion yuan club" in the home appliance industry are domestic brands.

6. The new generation information technology industry standardization forum hosted by the China Electronic Technology Standardization Institute under the Ministry of Industry and Information Technology was held as scheduled. The meeting released the 2020 "Digital Twin White Paper" led by the Ministry of Industry and Information Technology. The report pointed out that by 2023, the market size of my country's new smart city will reach 1.3 trillion yuan.

7, China Association of Automobile Manufacturers: In October, automobile production and sales reached 2.552 million and 2.573 million respectively, an increase of 0.9% and 0.1% month-on-month, and an increase of 11.0% and 12.5% ​​year-on-year respectively. As of this month, automobile production and sales have shown growth for seven consecutive months, with sales volume growing at more than 10% for six consecutive months.

8. China Association of Automobile Manufacturers: In October, my country's power battery installed capacity was 5.9GWh, up 44.0% year-on-year and down 10.8% month-on-month, continuing to maintain its growth trend year-on-year. Among them, the ternary battery was installed in a total of 3.4GWh, an increase of 15.7% year-on-year and a decrease of 19.1% month-on-month; the lithium iron phosphate battery was installed in a total of 2.4GWh, an increase of 127.5% year-on-year and a increase of 3.5% month-on-month.

9 and Strategy Analytics' latest report released pointed out that the number of global shared car fleets increased by 31.7% year-on-year, and the number of members increased by 38%. But due to the health incident, earnings fell 14%.

10 and Gamma Data released the "Mobile Game Report for October 2020" shows that the actual sales revenue of China's mobile game market was 18.548 billion yuan, compared with last month, the mobile game market increased by 15.96% month-on-month.

[Major shareholders increase and decrease their holdings]

November 10, Shanghai International Group Co., Ltd. increased its holdings of Guotai Junan (02611) by 14.4138 million shares, with a price of HK$10.74 per share, with a total amount of approximately HK$155 million. After the increase in holdings, the latest number of shares held is approximately 237 million shares, and the latest shareholding ratio is 17.04%.

On November 6, JPMorgan Chase reduced its holdings in Sunny Optics (02382) by approximately 2.2707 million shares, with a price of HK$145.775 per share, with a total amount of approximately HK$331 million. After the reduction, the latest holdings were approximately 65.7233 million shares, and the latest holding ratio was 5.99%.

On November 6, GIC Private Limited reduced its holdings of China Petrochemical Co., Ltd. (00386) by 10.6604 million shares, with a price of approximately HK$3.18 per share, with a total amount of approximately HK$33.8585 million. After the reduction, the latest number of shares held is approximately 1.53 billion shares, and the latest shareholding ratio is 5.99%.

[Big Bank Rating]

HSBC Global: Downgrade Sinopec Oil Service (01033) rating to "hold" Target price fell to HK$0.54

UBS: optimistic about Minhua (01999) domestic business Target price rose to HK$17.5

Bank of America Securities: Maintain Meituan (03690) "buy" rating Target price rose to HK$336

Furui: Reaffirm Galaxy Entertainment (00027) "hold" rating and give target price 50

Citigroup: It is expected that Asian apparel manufacturers' stock prices will fall in the short term Still optimistic about Shenzhou International (02313)

[Trading Alarm]

Pricing date: Deqi Pharmaceutical-B (06996), Sunac Services (06996).

performance announcement: Tencent Holdings (00700), China Gas (08246), China Gold International (02099), Bufeng International (00043), Xinxiu Liepin (01910), Tongdao Liepin (06100), Tianjin Machine Tool China (01651), Baosheng International (03813), Silk Road Energy (08250), Shishi Service (08181), Baitian Petroleum (08011), Fantasy China (08032), Zhengli Holdings (08283), Aobai China (0033), 08283 8148), China Science and Technology Industry Group (08111), Sinopharm Technology Co., Ltd. (08156), Weiliang Holdings (08612), Zhengda Enterprise International (03839), Datang Tongjin (08299), Lijun Group Hong Kong (08360), Sun International (08029), Fano Group (08153), Xinwei International Holdings (08086), Manulife Financial-S (00945), Super Intelligent Holdings (01402), Dafeng Port (08310), Guonong Financial Investment (08120), WAC HOLDINGS (08619), Huilian Financial Services (08030), Global Printing Hall (08448), Ocean Global Holdings (08476), Lingzhi Finance (08163), GT STEEL GROUP (08402), Chaofan Network (08121), Pacific Bar (08432), Wancheng Metal Packaging (08291), Weiyali (00854), Zhuguan Holdings (08606), Tongjing New Energy (08326), MS CONCEPT (08447), Zonghengyou Holdings (08069), Gao Aoshi International (08042), Renhe Technology (08140), Yuyuan Group (00551), real-time scientific research (08119), Baiying Holdings (08525), Hengwei Group Holdings (08219), Miming Life Department Store (08473), Shida Holdings (08003), Minxin International Holdings (08003), Stocks (08456), Sun Entertainment Group (08082), Great Wall Huili (08315), Yihui Group (08161), Baolian Holdings (08201), Bailida Group Holdings (08179), Guanyuan Holdings (08513), Yingji Tea House Group (08241), Zhifang International Holdings (08521), Yingmei (02368), Yihuan Financial Investment (08079).

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