International Monetary Fund: Trade policy uncertainty remains high and may affect investment and market sentiment in Asia more severely than expected.

Important News 1. Communiqué of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China: The plenary session proposed the main goals for economic and social development during the 15th Five-Year Plan period. 2. A spokesperson for the Ministry of Commerce answered reporters' questions regarding the EU's 19th round of sanctions against Russia, listing Chinese companies. 3. Ansem China: The relevant decision of the Netherlands headquarters has no legal effect in China. Individual Stock News 1. China Rare Earth: Strictly implement export control policies and conduct work in compliance with the law. 2. Xinlai Materials: A subsidiary plans to invest 2 billion yuan in a semiconductor core component project. Upon reaching full production, the project's annual output value is expected to exceed 1.5 billion yuan. 3. EVE Energy: Net profit in the third quarter was 1.211 billion yuan, a year-on-year increase of 15.13%. Power battery shipments in the first three quarters increased by 66.98% year-on-year. 4. Tuowei Information: Net profit in the first three quarters was 26.0432 million yuan, a year-on-year increase of 852%. 5. Juhua Co., Ltd.: Net profit in the third quarter increased by 187% year-on-year, with rising prices for refrigerant products. 6. Inovance Technology: Net profit increased 27% year-on-year in the first three quarters. Sales revenue from its general automation (including industrial robots) business reached approximately 13.1 billion yuan. 7. Shengyi Electronics: Net profit for the first three quarters is expected to be between 1.074 billion yuan and 1.154 billion yuan, a year-on-year increase of 476%-519%. 8. Payne Technology: Net profit increased 94% year-on-year in the third quarter. Businesses such as industrial and commercial energy storage, sodium batteries, and shared battery swaps saw rapid growth. 9. StarStar Technology: To address rising memory chip prices, the company will adjust the prices of some products in the fourth quarter. 10. Xinlai Materials: A wholly-owned subsidiary plans to invest 2 billion yuan in a semiconductor core component project. 11. Hengdian Dongmei: High-end soft magnetic materials have been supplied to some leading domestic and international SST customers. 12. Sungrow Power Supply: The company remains confident in achieving its 40-50GWh energy storage shipment target this year. The supply and price of energy storage cells remain stable. 13. Huawu Co., Ltd.: Net profit in the third quarter increased by 4202% year-on-year, and the gross profit margin of wind power brake products bottomed out and rebounded significantly.

RMB Central Parity Rate in the Interbank Foreign Exchange Market, October 24, 2025 USD/CNY at 7.0928, up 10 pips (RMB depreciation); EUR/CNY at 8.2486, up 52 pips; HKD/CNY at 0.91266, up 1.5 pips; GBP/CNY at 9.4672, down 179 pips; AUD/CNY at 4.6266, up 168 pips; CAD/CNY at 5.0777, down 1 pip; JPY/CNY at 4.6595, down 171 pips; RMB/RUB at 11.4231, down 148 pips; NZD/CNY at 4.0897, up 116 pips; RMB/RMB at 0.59477, down 3.7 pips; CHF/CNY at 8.9296, up 94 pips. The Singapore dollar/CNY exchange rate was reported at 5.4710, down 39 points.