A shares evening hot spot | October financial data released! Interpretation has arrived

1. Tencent, JD and other Chinese concept stocks' financial reports exceed expectations! Chinese assets surge Importance: On November 13, several well-known listed companies disclosed their third-quarter financial reports for the year 2025, attracting wide market attention. Specifically: Tencent's third-quarter performance report showed that the company achieved revenue of 192.87 billion yuan, a year-on-year increase of 15%; operating profit (Non-IFRS) of 72.57 billion yuan, a year-on-year increase of 18%. JD Group's third-quarter revenue was 299.1 billion yuan, a year-on-year increase of 14.9%, exceeding market expectations. Net profit attributable to shareholders for the third quarter was 5.3 billion yuan. Semiconductor Manufacturing International Corporation's third-quarter revenue was 17.162 billion yuan, a year-on-year increase of 9.9%; net profit was 1.51 billion yuan, a year-on-year increase of 43.1%, showing significant improvement in profitability. Bilibili's total net revenue for the third quarter was 7.69 billion yuan, a year-on-year increase of 5%; adjusted net profit was 786 million yuan, a year-on-year increase of 233%, significantly improving profitability. After the financial reports were released, the stock prices of JD and Bilibili in the US pre-market trading both surged, with JD rising by over 4% at one point and Bilibili rising by over 6%. 2. October financial data released, interpretation is here Importance: On November 13, the People's Bank of China released the financial data for October. The data shows that the year-on-year growth rates of M2 and social financing scale remained at a high level in October, creating an appropriate monetary and financial environment for the economic recovery; loan sizes maintained reasonable growth, and the credit structure continued to optimize. Key points of the data are as follows: As of the end of October 2025, the M2 balance was 33.513 trillion yuan, a year-on-year increase of 8.2%. The stock of social financing scale was 43.772 trillion yuan, a year-on-year increase of 8.5%. From January to October, the increment of social financing scale was 3.09 trillion yuan, an increase of 383 billion yuan year-on-year. At the end of October, the balance of various types of Renminbi loans was 27.061 trillion yuan, a year-on-year increase of 6.5%. Market participants pointed out that although there is still some room for monetary policy, the marginal efficiency has significantly decreased. Negative effects of excessively loose monetary and financial conditions also need to be monitored, such as fund idling and increased volatility in the capital market. In the future, it is necessary to continue implementing moderately loose monetary policies, grasp the strength and pace well, and maintain strong support for the real economy. 3. Securities Regulatory Commission approves Mu Xi Shares' initial public offering and listing of shares Importance: The Securities Regulatory Commission approved the registration application of Mu Xi Integrated Circuit (Shanghai) Co., Ltd. ("Mu Xi Shares") for its initial public offering of shares and listing on the Science and Technology Innovation Board. Comment: Self-chosen brother believes that as long as the dual innovation task has not been completed, the technology bull market probably won't end. Now it's just missing the Moore thread, and technology still needs to maintain momentum. However, technology stocks also face several pressures in the short term: first, the increase this year is large, second, there is a lot of leveraged capital, and third, institutions have already made a lot of money this year, will they cash in later? What do stock friends think? 4. Alibaba launches the "Qian Wen" project! Insider latest response Importance: On the afternoon of November 13, a reporter from Securities China learned that Alibaba has secretly launched the "Qian Wen" project, building an eponymous personal AI assistant app based on the strongest model Qwen to directly compete with ChatGPT. As a result of the above news, Alibaba's Hong Kong stocks surged, rising over 5% at one point. "Alibaba plans to expand to the global market through the overseas version." An insider said that in the past few months, Alibaba CEO Wu Yongming has mobilized over 100 developers from various departments to participate in this transformation. Comment: Everyone knows that Alibaba has always been "All in AI" and announced a 380 billion yuan investment in AI infrastructure at the beginning of the year, doubling its share price directly. However, recently Alibaba has been heavily subsidizing food delivery, and the stock price has fallen for a month. It seems that AI is reliable at critical moments! In any case, Ma Yun has returned, Alibaba's journey should be vast. Get AI going, rather than making a little money in food delivery subsidies. 5. Concerning the ASML semiconductor issue, the Ministry of Commerce's latest response Importance: On November 13, the Ministry of Commerce held a routine press conference. Spokesperson He Yadong said that since the ASML semiconductor issue occurred, China has been responsible for the stability and security of the global semiconductor supply chain, and has held multiple rounds of consultations with the Dutch side, and agreed to the request of the Dutch Ministry of Economy to send representatives to China for consultations. It is hoped that the Dutch side will demonstrate a sincere willingness to cooperate with the Chinese side, and promptly propose substantive and constructive solutions to the problem, and take practical actions to quickly and effectively restore the stability and security of the global semiconductor supply chain from the source. 6. A-share limit up number hits a two-month high, with the three major sectors accounting for over 10% each Importance: On November 13, the A-share market welcomed "hundreds of stocks limit up" for the first time in nearly a month. By the end of the closing, a total of 106 stocks recorded limit up movements, hitting a new high in nearly two months since September 5. According to statistics based on industry sectors (Shenwan level one), among the stocks that hit limit up on the 13th, excluding ST stocks, the proportions from the electrical equipment, basic chemicals, and non-ferrous metals sectors were relatively high, accounting for 17.4%, 12.8%, and 11.6% respectively. Comment: Whether it is in electricity, chemicals, or non-ferrous metals, it feels like an extension of AI speculation. Electricity rose because ultimately the operation of AI relies on electricity generation - how can AI be used without electricity? Non-ferrous and chemical industries rose because don't we need industrial products and non-ferrous metals for technology new materials? So when they rise, resource stocks will follow suit. 7. It has finally ended! But in January next year, the US government may face another shutdown Importance: The White House announced on Wednesday evening (the 12th local time) that US President Trump signed a bill to restart government operations. The longest federal government shutdown in US history, which began on October 1, has lasted for 43 days and has led to disruptions in food stamp benefits, hundreds of thousands of federal employees working without pay, and almost a complete breakdown of the air traffic control system. The issue of healthcare was the main point of contention that triggered the recent US government shutdown. Democratic Representative Rosa DeLauro, a senior member of the House Appropriations Committee, said that the same issue could trigger another government shutdown in January next year. Comment: Shutdown last year, shutdown this year, shutdown possibly next year... is the US planning to develop "shutdown" into its own political strategy? Self-chosen brother summarizing the investment opportunities in the market has found that 6G, among others, is gaining attention. 1. China completes the first phase of 6G technology trials According to CCTV News, the Ministry of Industry and Information Technology has informed that China has conducted 6G technology trials for four consecutive years. The first phase of 6G technology trials has been completed, with over 300 key technologies developed. Open Source Securities stated that 6G is currently in the stage of standard research and development. According to the IMT-2030 (6G) Working Group, it is estimated that by 2040, the number of various terminals connected to 6G will increase more than 30 times compared to 2022. Attention should be paid to the early infrastructure development for communication upgrades. With the continuous development of 6G technology and the establishment of standards, related industrial sectors are expected to usher in corresponding industrial opportunities, including areas such as antennas, radio frequency, communication chips, etc. In addition to this, the following sectors are also worth paying attention to: 2. Quantum Computing| Construction of superconducting quantum computer "Tian Yanyan-287" completed. 3. Siasun Robot&Automation| BYD ELECTRONIC business has begun large-scale application of AMR intelligent logistics Siasun Robot&Automation. Regarding announcements with a positive bias, Self-chosen brother suggests paying attention to Semiconductor Manufacturing International Corporation's Q3 net profit increasing by over 43%, among others; as for announcements with a negative bias, be aware of Cowealth Medical China warning about potential suspension of trading due to abnormal stock price increase, among others. Announcements with a positive bias 1. Semiconductor Manufacturing International Corporation: Net profit in the first three quarters increased by 41.1% mainly due to the increase in wafer sales volume year-on-year and changes in product mix. 2. Lizhong Sitong Light Alloys Group: Subsidiary secured customer projects, expected total sales of approximately 1.135 billion yuan. 3. Anhui Construction Engineering Group Corporation: Subsidiary won a project worth 1.753 billion yuan. 4. Haisco Pharmaceutical Group: The new indication clinical trial of the innovative drug HSK39297 tablet has been approved. 5. China Pacific Insurance: Property insurance premiums for Taibao Life Insurance in the first ten months increased by 9.9% year-on-year. Announcements with a negative bias 1. Cowealth Medical China, with 13 consecutive trading days of limit up: If the stock price continues to rise abnormally, it may apply to suspend trading for verification. 2. Shanghai Morn Electric Equipment with 8 consecutive trading days of limit up: The company's operations have not undergone significant changes. 3. Xi'an Actionpower Electric: Three shareholders intend to jointly reduce the company's shareholding by not more than 3%. 4. Anfu Ce Link Limited: One of the controlling shareholders plans to reduce the company's shareholding by not more than 3%. 5. Jiangsu Jujie Microfiber Technology Group: The controlling shareholder intends to reduce the company's shareholding by not more than 2%. This article is reproduced from "Tencent Self-selected Stock". GMTEight editor: Lifo.