Merger of 4 state-owned investment trust firms approved！第一金控 to hold 50.3%，第一金投信 to survive
Published ・ Source Taiwan | 鉅亨網
The investment trust subsidiaries of four state-owned financial holding companies have approved a merger，with 第一金投信 to survive. After the merger，第一金控 will hold 50.3%，with the aim of strengthening the competitiveness and service quality of state-owned investment trusts.
Facts
The boards of 第一金控，兆豐金控，合庫金控 and 華南金控，along with their investment trust subsidiaries，approved the merger of the 4 investment trust subsidiaries today (22).
第一金投信，the largest in assets under management and with stronger operating performance，will be the surviving company in the merger.
After the merger，第一金控 will hold a 50.3% stake in 第一金投信.
For each 1 ordinary share of 第一金投信，shareholders will receive 1.4532 shares of 兆豐國際投信，2.7321 shares of 合作金庫投信 and 4.4140 shares of 華南永昌投信.
The post-merger board will have 7 directors and 2 supervisors，with 第一金控 taking 4 director seats and each of the other three financial holding companies taking 1.
寧德時代 plunged 7.24%，mainly because its third-quarter net profit attributable to shareholders fell 5.77% quarter on quarter to 21.246 billion yuan
腦動極光-B surged 27.15% against the market trend，benefiting from the release of an international standard for a brain-computer interface reference architecture
中金公司 said year-on-year growth in capital spending by the 7 U.S. AI giants is expected to slow from about 90% in 2026 to 36% in 2027
〈Mainland stocks after the close〉Hopes for policy support fade；Chinese stocks fall into a bear market
Published ・ Source Taiwan | 鉅亨網
Chinese stocks have fallen into a bear market amid weak consumption and concerns about AI profits，with the CSI 300 down 20% from its June peak and market value shrinking by $2.4 trillion. Despite policymakers stepping up support，the lack of a large-scale consumption plan has disappointed investors，and analysts predict the downturn could continue into next year.
Facts
Original中國股市自5月高點以來市值蒸發2.4兆美元。
The CSI 300 has fallen 20% cumulatively since its June peak.
The ChiNext Index fell below 2,600 points，closing at 2,576.90.
China lacks a large-scale consumer spending plan，while economic growth has only just met the official target.
EV demand gains momentum and Chinese brands rise；European auto market grows 10.2% year on year in September
Published ・ Source Taiwan | 鉅亨網
New-car registrations in Europe rose 10.2% year on year to 1.36 million in September，marking an 8th consecutive month of growth，driven by EV demand. Chinese brands’ market share jumped to 14.6%，putting local automakers under pressure on both profits and market share，as the 歐盟 considers rules to protect local industry.
Facts
New-car registrations in Europe rose 10.2% year on year to 1.36 million in September
Electrified vehicles accounted for 76.2% of all new-car registrations
Pure EV registrations surged 59.9% to 416,000
The combined market share of 4 Chinese automakers in Europe jumped to 14.6%
福斯 and 雷諾 registrations fell 2.9% and 0.7%，respectively，in September
美光 responds directly to 長鑫’s 4F²，says it will not follow suit；3D DRAM offers better long-term cost advantages
Published ・ Source Taiwan | 鉅亨網
美光 President Scott DeBoer responded to 長鑫科技’s push toward a 4F² DRAM architecture，saying that after evaluation，美光 will stick with the 6F² architecture and move directly to 3D DRAM，which it believes offers greater advantages in long-term cost and scalability.
Facts
美光 President Scott DeBoer said the company will stick with the 6F² architecture and move directly to 3D DRAM，which he said offers greater long-term scalability and cost-effectiveness.
長鑫科技 plans to launch a new generation of DDR5 RDIMMs using a 4F² architecture by the end of the year，with chip area reduced by about 30%.
美光 believes the key to continued improvements in DRAM bit density and cost is capacitor spacing，not just transistor structure.
三星電子 expects to advance the adoption of 4F² at the 0a-nanometer node by the end of 2028.
美光 unveiled a technology roadmap for Gen11 NAND with more than 400 layers，targeting AI demand for high-IOPS and high-bandwidth storage.