Core Viewpoint - The central theme of the articles is the continuous increase in China's foreign exchange reserves and gold holdings, indicating a stable economic outlook and a strategic shift towards optimizing international reserves through gold accumulation [1][4][9]. Foreign Exchange Reserves - As of December 2025, China's foreign exchange reserves reached $335.79 billion, an increase of $11.5 billion from the previous month, marking a growth rate of 0.34% [1][6]. - The rise in foreign reserves is attributed to the depreciation of the US dollar and fluctuations in asset prices, with the dollar index falling by 1.1% to 98.3 [2][6]. - The trade surplus exceeded $1 trillion for the first time, providing a solid foundation for the stability of foreign reserves [3][7]. Gold Reserves - China's official gold reserves stood at 74.15 million ounces as of December 2025, with an increase of 30,000 ounces, marking the 14th consecutive month of gold accumulation [1][8]. - The increase in gold reserves, although at a low increment, aligns with market expectations and reflects a strategic move to enhance the structure of international reserves [4][9]. - The ongoing geopolitical tensions and the trend of "de-dollarization" are driving central banks globally to increase their gold holdings, with China's gold reserve proportion at approximately 9.5%, below the global average of around 15% [8][9].

房地产行业规模回到2010年以前的水平，但未来仍有机遇。 在房地产行业经历深度调整的背景下，市场对未来走向的关注不断升温。1月7日，在"2026丁祖昱评楼 市"发布会上，克而瑞集团联席总裁、普睿数智科技董事长丁祖昱表示，从多项核心指标来看，本轮房 地产调整已进入关键阶段，尤其是二手房价格，正在逐步触及底部区间。 2025年房地产行业的整体销售规模继续回落，已达到2010年以前的水平。"这不是一件坏事。"丁祖昱认 为，房地产规模回归理性，恰恰意味着行业正在完成去泡沫、去杠杆的过程。 在重点城市中，上海楼市表现尤为亮眼。2025年，上海新房成交金额约4297亿元，二手房成交约7700亿 元，新房与二手房合计成交规模达到约1.2万亿元，显著领先于其他城市。 与此同时，上海高端住宅市场同样活跃，全年成交亿元以上豪宅共72套，在全国城市中遥遥领先，显示 出核心城市、核心资产的长期吸引力。 展望未来，丁祖昱认为，中国房地产并未失去发展潜力。扣除自建住房后，我国城镇人均住宅面积目前 约为30平方米左右，北京、上海等一线城市的人均商品房面积仍低于全国平均水平。"房地产仍然是一 个具有长期需求支撑的行业。"丁祖昱表示。 在需求 ...

2026年1月，第一财经研究院发布的"第一财经首席经济学家信心指数"为50.32，较上月回升，维持景气状态。经济学家们认为2025年我国经济运行稳中 有进，顺利收官。 首席经济学家们对2025年12月CPI同比增速的预测均值为0.8%，PPI同比预测均值为-2%。2025年12月工业增加值增速预测均值4.9%，固定资产投资累计 增速预测均值为-2.2%，社会消费品零售总额同比增速预测均值为1.8%，贸易顺差预测均值为1113.5亿美元，新增贷款预测均值为7182.5亿元，社会融资 总量预测均值为1.8万亿，M2同比增速预测均值为8%。 1月5日至6日，中国人民银行工作会议围绕货币政策实施、金融服务实体经济、风险防控、金融改革开放等核心领域，明确行动路径。货币政策方面， 会议强调，把促进经济高质量发展、物价合理回升作为货币政策的重要考量，灵活高效运用降准降息等多种货币政策工具。经济学家们预计未来政策将 保持连续性、稳定性兼顾灵活性。 | 表 1 CBNR1 自席经济学家调研: 2025 年 12月经济数据次测 | 2025 年 12 月 | 2025年12月预测 | 11 月公布 | 2025年12月预 | | ...

【#国晟科技股价涨幅偏离基本面#，#国晟科技今起被停牌#】因股价涨幅过高脱离基本面，国晟科技 （603778.SH）今天起停牌，拟停牌时间不超过三个交易日。 据该公司发布的《股票交易异常波动暨停牌核查公告》，2025年10月31日至2026年1月6日期间，公司股 票5次触及股价异常波动、1次触及严重异常波动情形，期间累计涨幅高达370.20%，公司股价累计涨幅 偏离基本面，存在市场情绪过热、非理性炒作风险，存在股价短期快速回落风险。 期间，该公司股票存在多次交易异常波动的情况并多次受到交易所问询。 ...

Core Viewpoint - OPPO has confirmed the return of realme as a sub-brand, indicating a strategic consolidation to focus resources and expand in the global market [1] Group 1: Company Strategy - OPPO's organizational adjustments are impacting the industry, particularly affecting mid-tier smartphone brands due to rising supply chain costs [1] - The integration of realme into OPPO aims to enhance resource allocation and collaborative efforts [1] Group 2: Personnel Changes - Li Bingzhong has been appointed as the Senior Vice President of OPPO, overseeing the operations of sub-brands OnePlus and realme, reporting directly to OPPO's founder Chen Mingyong [1] - Internal sources from realme indicate that the integration process is ongoing, with a focus on resource consolidation and coordinated operations [1]

1月6日至7日，全国药品监督管理工作会议在北京召开。会议强调，2026年要围绕实现"十五五"良好开 局，抓住关键，纲举目张，做好以下重点工作。一是全力保障药品高水平安全。完善药品安全责任体 系，提升临床试验监管水平，加强高风险品种生产监管，聚焦集采中选等重点品种加大检查和抽检力 度，开展药品经营环节"清源"巩固提升行动，强化网络销售监管，切实守牢药品安全底线。二是积极支 持医药产业发展提质增效。全面深化药品监管改革，落实对重点品种实行"提前介入、一企一策、全程 指导、研审联动"的要求，支持医药研发创新，推动中药守正创新发展，支持医疗器械高水平自立自 强，促进美丽经济发展壮大。三是不断提升药品监管法治化水平。持续健全药品监管法律法规体系，完 善药品标准体系，提高行政执法权威性和公信力，加大面向企业和基层的普法宣传力度，进一步夯实药 品监管的法治基础。四是扎实推进药品监管现代化建设。高质量编制"十五五"药品规划，扎实推进全国 药品监管一体化，加强监管人才队伍和技术支撑能力建设，深化监管信息化建设和药品监管科学研究应 用，深度参与全球药品安全治理，推动中国药品监管国际影响力再上新台阶。 （文章来源：第一财经） ...

Core Viewpoint - OPPO is undergoing organizational adjustments, with realme returning as a sub-brand to consolidate resources and expand in global markets, amidst a challenging market environment affecting mid-tier smartphone brands [2][4][10]. Group 1: Organizational Changes - OPPO's organizational structure has fluctuated between centralization and decentralization over the past few years [1][9]. - Realme, previously independent, is now set to return to OPPO, with the aim of resource consolidation and global market expansion [4][10]. - Li Bingzhong has been appointed as the Senior Vice President of OPPO, overseeing the operations of OnePlus and realme, reporting directly to OPPO's founder [4][10]. Group 2: Market Environment - The smartphone market is experiencing direct impacts from rising supply chain costs, particularly in storage, accelerating the industry's adjustment cycle [3][10]. - Realme's growth in overseas markets has slowed, facing competition from brands like Transsion in the ultra-low-end market [10][11]. - The competitive landscape is shifting from broad market coverage to tighter organizational efficiency, cost control, and higher product success rates [11]. Group 3: Brand Positioning and Strategy - Realme's return to OPPO is framed as a move to enhance collaboration and resource integration, although specific adjustments have not been publicly detailed [10]. - OnePlus has transitioned from a highly independent brand to a role within OPPO's system, focusing on performance and mid-range products, but risks diluting its brand identity [10][11]. - The overlapping product lines among OPPO, realme, and OnePlus in the 2000 to 3000 yuan price range have led to resource friction, necessitating clearer brand differentiation [9][10].

共42只个股出现了机构的身影。 盘后数据显示，1月7日龙虎榜中，共42只个股出现了机构的身影，有25只股票呈现机构净买入，17只股 票呈现机构净卖出。 当天机构净买入前三的股票分别是鄂尔多斯、三博脑科、顺灏股份，净买入金额分别是3.79亿元、2.66 亿元、2.38亿元。 当天机构净卖出前三的股票分别是金风科技、美好医疗、芯源微，净流出金额分别是4.06亿元、3.71亿 元、2.41亿元。 | 13 元元 | 1.07 | | | --- | --- | --- | | | 机构资金参与个股一 | | | 证券简称 | 日涨跌幅 | 机构净买入(万元) | | 鄂尔多斯 | 7.20% | 37889.38 | | 三博脑科 | 10.45% | 26627.30 | | 顺灏股份 | 5.53% | 23759.00 | | 普申股份 | 11.92% | 23148.10 | | 星环科技 | 11.37% | 20267.51 | | 高闘新材 | 20.03% | 16078.81 | | 航天环宇 | -0.71% | 11832.66 | | 南大光电 | 20.00% | 11648.14 | ...

恒生指数低开0.41%，恒生科技指数跌0.28%。阿里巴巴、蔚来跌逾2%，理想汽车、小鹏汽车、百度集 团跌幅靠前；华虹半导体、中芯国际走强。 ...

Core Viewpoint - The company has noted significant market interest in computing hardware-related businesses, leading to unusual stock trading fluctuations [1] Group 1: Company Developments - The company's wholly-owned subsidiary, Kecuan Photon, has established production capacity for optical modules and completed the first tape-out of silicon photonic chips, although these developments have not yet generated revenue [1] - The recent developments in optical modules and silicon photonic chips are not expected to have a significant impact on the company's current revenue [1] Group 2: Shareholder Activity - The company's controlling shareholder and actual controller, Shi Huiqing, reduced his holdings by 1.4903 million shares through block trading during the period of unusual stock trading fluctuations on January 5, 2026 [1]