German Chancellor Merz: We will support Ukraine in the long term and will use the frozen Russian assets to help protect Ukraine.

Key News 1. The Central Economic Work Conference was held in Beijing, with Xi Jinping delivering an important speech. 2. Several securities firm executives responded to reports that "quantitative trading equipment on exchanges will be cleared out": No specific notification has been received yet. 3. The Shanghai Stock Exchange ETF scale exceeded 4.1 trillion yuan, with institutional investors' holdings increasing to 65%. 4. The FCC generalized national security threats to normal communications between Chinese and American users. Individual Stock News 1. Moore Threads: Rapid stock price increases face correction risk; new products are still in the R&D stage; continued losses are expected in 2025. 2. Chaojie Shares: The value of structural components for a single rocket is approximately 15 million yuan; revenue from commercial aerospace-related businesses is expected to grow rapidly in 2026. 3. Tefa Information: Due to contract fraud and embezzlement during the acquisition of Tefa Dongzhi, the company received a criminal judgment. 4. Vanke A: As of October 31, the company and its subsidiaries had outstanding guarantees of 84.476 billion yuan, with no overdue guarantees. 5. Zhaoxin Shares: Plans to acquire a 70% stake in Youde New Energy, a leading company in the new energy operation and maintenance sector. 6. Landun Optoelectronics: Terminated its acquisition of a portion of Xingsi Semiconductor's equity. 7. Zhongwei Electronics: Actual controller will change to Fu Yingbo; stock will resume trading on the 12th. 8. Shengtong Energy: Controlling shareholder will change to "Qiteng Robotics"; stock will resume trading on the 12th. 9. Honglin Power: Subsidiary's high-speed copper cable connection products have achieved mass production and shipment; major customers include Amphenol, Tyco, and Molex.

The UK services sector index fell 0.3% month-on-month in October, compared to a forecast of 0% and a previous reading of 0.20%.