[Duan Yongping increased his holdings in Pinduoduo and Occidental Petroleum, reduced his holdings in Apple, Li Lu reduced his holdings in Apple, and established a new position in a loss-making oilfield stock] According to Jinshi Data on November 17, with the disclosure of the 13F holdings of institutional investors in the US stock market in the third quarter, the holdings of Duan Yongping and Li Lu, who have attracted much attention in the Chinese investment circle, have also been revealed one after another. As of the end of the third quarter, the combined market value of the two major investors' holdings in US stocks reached US$19 billion, and both of them made important moves in the third quarter. Among them, the H&H International Investment Fund, which is believed to be managed by Duan Yongping, significantly increased its holdings in Pinduoduo and Occidental Petroleum, reduced its holdings in Apple, and cleared its holdings in Bank of America; Li Lu's Himalaya Fund also reduced its holdings in Apple, and also established a new position in a loss-making oilfield stock. It is worth noting that Duan Yongping has also frequently bought Tencent and Pinduoduo recently, selling 1,000 Tencent puts every day. Due to Trump's election, the market is worried that the trade war will cause pressure on Chinese concept stocks, but Duan Yongping took the opportunity to continuously increase his holdings in Tencent, and also bluntly stated that Tencent Insurance Company is open. (China Securities) (Reprinted from: Jinshi Data)

[David Tepper: Chinese stock positions are close to 40%] According to Jinshi Data on November 16, Appaloosa Asset Management, a fund under hedge fund legend David Tepper, increased its investment in Chinese stocks from 26% at the end of the previous quarter to 38%, and significantly increased its holdings of Chinese concept stocks such as Pinduoduo, JD.com, and Beike. Among them, Pinduoduo increased its holdings by as much as 3.36 million shares, reaching 5.3 million shares at the end of the quarter, with a holding value of US$715 million. At the same time, the above-mentioned funds reduced their holdings of Alibaba, Baidu, China Large Cap ETF (FXI), and China Overseas Internet ETF (KWEB) by a relatively small amount. It is worth mentioning that Alibaba's stock price rose by nearly 50% in the third quarter. Although Appaloosa partially reduced its holdings, the proportion of the stock's holdings by market value has increased. (China Securities Journal) (Reprinted from: Jinshi Data)

[my country ranks second in the world in the number of new drugs under development, and will promote the transformation and upgrading of the pharmaceutical industry in the future] Jinshi Data reported on November 16 that it was learned from the 2024 China Pharmaceutical Industry Development Conference held in Shanghai today that my country currently ranks second in the world in the number of new drugs under development. Statistics from the Ministry of Industry and Information Technology show that since the beginning of this year, 37 innovative drugs and 51 innovative medical devices have been approved for listing in my country, and the number of new drugs under development has jumped to second in the world. Jin Zhuanglong, Minister of the Ministry of Industry and Information Technology, said that it is necessary to accelerate the industrialization process of major innovative products, coordinate the supplementation and strengthening of the chain, and solidly carry out collaborative research and development of the upstream and downstream of the industrial chain to promote the transformation of cutting-edge technologies such as biosynthesis, gene editing, and AI pharmaceuticals. The Ministry of Industry and Information Technology stated that in the next step, it will promote the transformation and upgrading of the pharmaceutical industry, enhance the production and supply capacity of medicines, strengthen the research and development and production of clinically short-supply drugs, children's drugs, and drugs for rare diseases, increase production capacity reserves, and further expand the opening and cooperation of the pharmaceutical industry. (Reprinted from: Jinshi Data)

[Jin Zhuanglong: Further comprehensively deepen the reform in the field of industry and information technology to inject strong impetus into the promotion of new industrialization] Jinshi Data reported on November 16 that Jin Zhuanglong, Minister of Industry and Information Technology, published on Qiushi.com (Further comprehensively deepen the reform in the field of industry and information technology to inject strong impetus into the promotion of new industrialization). It proposed to improve the system for promoting the deep integration of informatization and industrialization. Seize the opportunity of digital technology transformation, promote the construction of a system and mechanism to promote the development of the digital economy, and continue to do a good job in the deep integration of informatization and industrialization. Accelerate the digital transformation of the manufacturing industry, "points", "lines" and "surfaces" work together to create corporate benchmarks, promote chain transformation, build digital parks and smart clusters, and accelerate the popularization and application of new generation information technology in all directions and chains. Promote artificial intelligence to empower new industrialization, consolidate the technical foundation, develop intelligent products, cultivate a number of general large models and industry large models, carry out the "artificial intelligence + manufacturing" action, and select key industries to create 100 application scenarios and 1,000 benchmark enterprises. Vigorously develop a new generation of information technology industries represented by new generation mobile communications, integrated circuits, artificial intelligence, advanced computing, industrial software, big data, blockchain, satellite Internet, etc., and create a number of digital industry clusters with international competitiveness. Promote high-quality development of the information and communications industry, promote the large-scale deployment and application of 5G, gigabit optical networks, mobile Internet of Things, IPv6, etc., accelerate the systematic development of the industrial Internet, build a national integrated computing power system, and strengthen the security protection capabilities of network infrastructure. (Reprinted from: Jinshi Data)

[Jinshi Data Compilation: Daily Technology News Express (November 16)]
New Energy Vehicles:
1. Zhiji Auto: Creating the industry's first mass-produced Thor chip intelligent driving solution.
2. The BYD Denza Z9 was officially launched at the Guangzhou Auto Show.
3. Lei Jun: Xiaomi SU7 is expected to deliver more than 20,000 units in November this year.
4. Wenjie made its debut at the Guangzhou Auto Show, and its new generation of super range extender system was officially released.
5. Changan Automobile: Invest more than 50 billion yuan in five years and release a flying car in 2026.
6. U.S. Energy Secretary Granholm: Canceling electric vehicle tax credits will be counterproductive.
7. NIO announced that it will start business in the Azerbaijan market.

[Multiple models go hand in hand, and innovative drugs go overseas with frequent success] According to Jinshi Data on November 16, there have been continuous news about domestic innovative drugs going overseas recently: Merck obtained the global exclusive license for Lixin Pharmaceutical's PD-1/VEGF bispecific antibody LM-299 with a down payment of US$588 million; BioNTech acquired 100% of the issued share capital of Promis with an advance payment of US$800 million; Wellizbo announced the establishment of a new drug research and development company with Aditum Bio to achieve product internationalization in the NewCo (establishment of a new company) model. Industry insiders said that the vast overseas pharmaceutical market is attracting Chinese biopharmaceutical companies to go global. At present, License-Out (overseas authorization), mergers and acquisitions, NewCo and other overseas models go hand in hand, jointly promoting domestic innovative drugs to the international market. It is worth mentioning that since the beginning of this year, Wellizbo, Hengrui Medicine, Conoya and many other companies have achieved the export of innovative products through the NewCo model. More and more Chinese innovative pharmaceutical companies have gradually acquired R&D capabilities and product pipelines that are in line with international standards, and have integrated into the diversified ecosystem of the global biopharmaceutical industry with innovative products. (China Securities Journal) (Reprinted from: Jinshi Data)

[Futian Laboratory and the Greater Bay Area Ascend Computing Power Application Innovation Research Institute are officially listed] According to Jinshi Data on November 15, the 2024 Xili Lake Forum opened in Shenzhen. At the opening ceremony and main forum, Futian Laboratory and the Greater Bay Area Ascend Computing Power Application Innovation Research Institute were officially launched. This is a major practice for scientific research institutions and leading enterprises to jointly build an innovation platform, supporting the "dual-pillar" computing power system of Ascend's independent technology architecture and international mainstream technology architecture to be launched in Shenzhen. The reporter learned at the meeting that Futian Laboratory is a collaboration between IDEA Research Institute and Tencent, focusing on the field of embodied intelligence in human settlements and committed to creating the most cutting-edge embodied intelligence innovation platform. In recent years, Shenzhen has included artificial intelligence into the city's 20 strategic emerging industry clusters for key cultivation, and took the lead in issuing the country's first artificial intelligence industry promotion regulations. Through the comprehensive policy of "policy traction + factor supply + ecological cultivation + scenario empowerment", Shenzhen is building a national artificial intelligence innovation application pilot zone and a national new generation artificial intelligence innovation and development pilot zone with high standards, and is fully accelerating the construction of a global artificial intelligence pioneer city. (Shanghai Securities News) (Reprinted from: Golden Ten Data)

[Jinshi Data Compilation: Summary of important news in European and American markets on November 15]
Domestic News
1. The China Securities Regulatory Commission issued (Guidelines for the Supervision of Listed Companies No. 10 - Market Value Management) to promote the investment value of listed companies to reasonably reflect the quality of listed companies.
2. Ministry of Commerce: From January to October, the country attracted RMB 693.21 billion in foreign investment.
3. The Ministry of Commerce held a special roundtable meeting on the implementation of the 24 measures on foreign investment.
4. Two departments: Cancel the export tax rebate for aluminum, copper and other products, and reduce the export tax rebate rate for some refined oil, photovoltaics, batteries, etc. to 9%.
5. The Cyberspace Administration of China issued the "Guidelines for the Construction of Mobile Internet Mode for Minors".

[From December 1, the export tax rebate rate for some photovoltaic products will be reduced from 13% to 9%. What impact will it have on enterprises?] According to Jinshi Data on November 15, industry insiders believe that under the fierce market competition, it is difficult for enterprises to fully pass on the increased costs by raising product prices, and the profit margins of enterprises will be squeezed to a certain extent. Those enterprises with low technical levels, low production efficiency, and weak cost control capabilities will face greater survival pressure and may even be eliminated by the market. In fact, since the photovoltaic industry entered a temporary stage of imbalance between supply and demand last year, the prices of export products have continued to decline, and the prices of photovoltaic modules in most markets have dropped to US$0.08/W to US$0.09/W. An insider of a photovoltaic company told reporters: "The reduction in the export tax rebate rate for some photovoltaic products will lead to an increase in the overall cost of the industry and pass it on to downstream. Enterprises need to be more self-reliant." (Yicai) (Reprinted from: Jinshi Data)

[Several foreign banks assist the Ministry of Finance of China in issuing US dollar sovereign bonds] According to Jinshi Data on November 15, on November 13, local time, the Ministry of Finance of China successfully issued a book of US$2 billion in sovereign bonds in Riyadh, the capital of the Kingdom of Saudi Arabia. The types of investors in this US dollar sovereign bond are rich and warmly welcomed by the market, and international investors subscribe enthusiastically. The reporter learned from Citi on the 15th that Citi served as a joint bookrunner and joint manager in this issuance. Xin Baolian, Acting President of Citi Group China, emphasized: "This transaction is another milestone sovereign bond issuance by the Ministry of Finance of China. For this US dollar sovereign bond, the Ministry of Finance of China once again adopted the dual rules of RegS/144A, which attracted great attention from global investors and provided valuable reference for the pricing of future Chinese corporate issuers." HSBC announced on the 15th that it served as a joint lead underwriter and joint bookrunner in this issuance. Wang Yunfeng, President and CEO of HSBC Bank (China) Co., Ltd., said: "As two major emerging markets, the economic development of China and the Middle East is highly compatible and complementary. The continuous warming of economic and trade exchanges has also expanded the space for financial cooperation. Among them, the cooperation between China and Saudi Arabia has been particularly significant, covering bilateral local currency swaps, stock exchange cooperation, and ETF product cooperation. "(China News Service) (Reprinted from: Jinshi Data)

[Jinshi Data Compilation: Daily U.S. Stock Market News Express (Friday, November 15)]
Important News
1. The U.S. retail sales monthly rate in October was 0.4%, in line with expectations of 0.3% and the previous value of 0.4%.
2. The U.S. import price index rose 0.3% month-on-month in October, the largest increase since April 2024. The New York Fed manufacturing index in November was 31.2, the highest since December 2021.
Stock News
1. Super Micro Computer (SMCI.O) must file a deferred Form 10-K annual report or submit a plan to file the form with Nasdaq by Monday, Nov. 18, to comply with exchange rules.