Special Topic: Highlights from Four Major Securities Journals Investing in stocks? Look to the analysis reports from Jin Qilin analysts—authoritative, professional, timely, and comprehensive, helping you uncover potential opportunities! On October 16 (Thursday), the main highlights from today’s headlines are as follows: China Securities Journal Six Departments Announce Support for Electric Vehicle Charging Infrastructure On October 15, the National Development and Reform Commission announced that it, along with five other departments, has formulated the "Three-Year Doubling Action Plan for Electric Vehicle Charging Infrastructure Service Capability (2025-2027)." This plan outlines the goals and action pathways for the development of charging facilities, aiming to accelerate the establishment of a high-quality charging infrastructure system to support the development of the new energy vehicle industry. Major Statement: "Must Invest," It's Time to Reassess Chinese Assets "Currently, the world is reassessing Chinese assets, which have become 'must-invest' targets." "The gradual improvement of the current fundamentals is expected to spread to more industries, indicating potential for market growth in the future." This series of impactful viewpoints emerged from an industry event on October 15— the "New Foundations for Long-term Development—2025 High-Quality Development Conference for Private Equity Funds," hosted by the China Securities Journal and exclusively named by Guosen Securities in Shenzhen. Gold Prices Surge! "Selling Jewelry Earned Nearly 10,000 Yuan" "Are you here to sell gold?" On October 15, as the reporter entered a pawn shop in a shopping mall in Beijing, staff immediately approached to inquire if gold was to be sold. At the shop's gold recycling section, an employee named Xiao Li informed the reporter that the recycling price for gold bars was 944 Yuan per gram, while for gold jewelry, it was 934 Yuan per gram. On that day, spot gold prices hit a new historical high. Canton Fair's Opening Day: The Service Robot Zone Turns into a Hot Spot The 138th China Import and Export Fair (Canton Fair) opened on October 15, featuring a total of 74,600 exhibition booths and participation from over 32,000 enterprises, both setting historic records. Major brands including Midea, Gree, and TCL showcased their products, with the service robot zone attracting considerable attention. Shanghai Securities Journal Core CPI Annual Growth Rate Reaches 1% for the First Time in Nearly 19 Months, Positive Price Changes Accumulate According to data released by the National Bureau of Statistics on October 15, the September CPI (Consumer Price Index) year-on-year and PPI (Producer Price Index) declines narrowed. Excluding food and energy prices, the core CPI rose by 1% year-on-year for the fifth consecutive month, signifying slow improvement in prices and steady recovery in domestic demand. Northbound Capital Increases Holdings in A-shares for Three Consecutive Quarters, Total Holdings Reached 2.58 Trillion Yuan by End of Q3 On October 15, the latest shareholding data for the Shanghai and Shenzhen Stock Connect was released, revealing the northbound capital's holdings in A-shares as of the end of Q3 2025 reached 2.58 trillion Yuan, up 12.9% and 15.59% compared to the end of Q2 and Q1 this year, respectively. This marks the third consecutive quarter of growth in northbound capital’s holdings in A-shares, which increased by over 340 billion Yuan in total during the first three quarters of this year. “Data Vacuum” Disrupts the Federal Reserve Under the influence of the U.S. government shutdown incident, the country’s economic data release system has collapsed. As the release of key economic data in the U.S. stagnates, the market is turning to alternative indicators like the ADP non-farm employment report, though these substitute data also have certain limitations and do not align with official data standards. According to the schedule, the Federal Reserve's next monetary policy meeting will be held on October 28 to 29. Fed Chair Powell recently indicated that since the September meeting, the outlook for U.S. employment and inflation has not changed significantly, which is seen as paving the way for another rate cut at the end of the month. How Long Can Gold Keep Rising? Experts Predict Price Consolidation After New Highs On October 15, both international and domestic gold prices experienced a historic breakthrough. As of October 15 at 18:30, international gold prices hit record highs of $4,218.13 per ounce in London and $4,235.80 per ounce in the COMEX (New York Mercantile Exchange). In the domestic market, the Shanghai Gold Exchange reported spot gold (Au99.99) and the main futures contract prices peaking at 960 Yuan per gram and 960.42 Yuan per gram, respectively. Since the beginning of the year, the price of London spot gold has risen by over 60%. Securities Times Core CPI Growth Rate Reaches 1% for the First Time in Nearly 19 Months On October 15, data released by the National Bureau of Statistics showed that in September, both the month-on-month and year-on-year performance of the Consumer Price Index improved compared to the previous month. The core CPI experienced its fifth consecutive month of growth, while the year-on-year decline in the Producer Price Index continued to narrow. Experts analyze that the overall consumption market remained stable in September with sustained price level recovery. Tianpu Co., Ltd. Completes Suspension Review After 15 Consecutive Daily Limits Up, Zhonghao Xingying Starts Independent Listing On the evening of October 15, Tianpu Co., Ltd. (605255) announced that it had conducted an investigation into the abnormal fluctuations in its stock trading. As the review is now complete, the company’s stock will resume trading from October 16. Previously, from August 22 to September 23, the stock price of Tianpu Co., Ltd. experienced 15 consecutive trading days of limit-up, accumulating a rise of 317.72%, while the Shanghai Composite Index rose by only 1.35%, and the auto parts industry index increased by 17.23% during the same period. To protect investors' interests, Tianpu Co., Ltd. initiated a review due to the extreme divergence of its stock price from the company's fundamentals, warning of the risk of a sudden drop at any time. IPO Review Tends to Favor “New” Listings; On-Site Inspections' Deterrent Effect Continues to Increase This year, the IPO approval rate has seen an uplift. Thus far, there have been 61 IPO applications, with 58 being approved, resulting in an approval rate of 95.08%, which is an increase of nearly 10 percentage points from 85.37% during the same period last year. Meanwhile, under strict regulatory guidance, 16 new IPO companies have already been selected for on-site inspections this year. In-Depth Investigation: Xinkailai Makes a Splash with Breakthrough by Subsidiary in Domestic Semiconductor Equipment Xinkailai’s latest offering is not lithography machines, but rather new products such as a next-generation ultra-high-speed real-time oscilloscope and domestic EDA software by its subsidiary. The 2025 Bay Area Semiconductor Industry Ecological Expo (referred to as “Bay Chip Expo”) opened in Shenzhen on October 15. Securities Times reporters learned that Xinkailai showcased 16 types of equipment products, including thin film deposition equipment and etching equipment, although no new products were launched by the company. However, its subsidiary Wanliyan presented a new-generation ultra-high-speed real-time oscilloscope, while another subsidiary Qiyunfang released two domestic EDA design software. Securities Daily In the First Three Quarters, Newly Increased Social Financing Exceeded 30 Trillion Yuan, Financial Support for the Real Economy Remains Solid On October 15, the People's Bank of China released the financial statistical data report for the first three quarters of 2025. As of the end of September, the growth rates of social financing scale, broad money supply (M2), and Yuan-denominated loans exceeded economic growth rates, indicating that financial support for the real economy remains solid. Six Departments Including the National Development and Reform Commission Announce: 28 Million Charging Facilities to be Established Nationwide by End of 2027 On October 15, the National Development and Reform Commission, NDRC, along with the National Energy Administration, the Ministry of Industry and Information Technology, the Ministry of Housing and Urban-Rural Development, the Ministry of Transport, and the State Administration for Market Regulation, released the "Three-Year Doubling Action Plan for Electric Vehicle Charging Infrastructure Service Capability (2025-2027)" which aims to establish 28 million charging facilities nationwide by the end of 2027, providing over 300 million kW of public charging capacity to meet the charging needs of over 80 million electric vehicles, achieving a doubling of charging service capacity. Key Breakthroughs in Solid-State Battery Materials Accelerate Industrialization Recently, there have been new developments in the field of solid-state battery materials in China: on October 14, Zhongsu Technology Co., Ltd. announced that its application for an "Advanced Solid Electrolyte Material and Solid-State Battery Pilot Testing Platform" has successfully been included in the first batch of pilot testing platforms recognized by Chengdu High-tech Zone in 2025. On October 13, Guoxuan High-Tech Co., Ltd. stated on an interactive platform that it has achieved key breakthroughs in the area of all-solid-state battery technologies, with all-solid-state silver batteries currently in pilot production and the design work for a 2GWh production line underway. Humanoid Robots "Rule Running" Holds Significant Real-World Implications Humanoid robots are receiving a unified "data language." At a recent sub-forum of the 2025 Pujiang Innovation Forum, Shanghai unveiled the country's first standardized dataset platform for embodied intelligence and a data set standard for humanoid robots. This standard creates a unified set of data collection, annotation, and storage guidelines, enabling data from different entities to circulate and be applied under the same criteria, contributing to the international standardization efforts for embodied intelligence with a "Chinese solution."