Interfax cited the Russian Defence Ministry saying Russia struck a cargo vessel in the Black Sea.

美聯儲在固定利率逆回購操作中總計接納了3個對手方的1.52億美元。

At a Q3 2026 earnings briefing, Wang Li, acting general manager, said Kweichow Moutai is shifting to a consumer‑centred, demand‑driven distribution model and abandoning channel stockpiling via prepayments. Self‑operated channels now reach consumers directly and some social‑channel SKUs are sold on consignment (ownership not transferred), both of which do not generate advance receipts. The company has implemented a dynamic allocation model that assigns product by region and dealer based on sell‑through and inventory, and collects payment only immediately before allocation to preserve channel health. As market‑driven operations deepen, industry prepayment practices no longer reflect end‑consumer demand; advance‑receipt balances should not be treated as a primary supply‑demand indicator.