Core Insights - Wankang Technology's AI comic creation platform, Wankang Drama Factory, has integrated the Kling 3.0 video generation model [1] - It is among the first applications to adopt the Seedance 2.0 long video model, which is expected to officially launch by the end of February [1] Company Developments - The integration of Kling 3.0 enhances the capabilities of Wankang Drama Factory in video generation [1] - The upcoming Seedance 2.0 model is anticipated to further expand the platform's offerings in long video content creation [1]

Core Viewpoint - The asset management industry in China has reached nearly 200 trillion yuan and is transitioning from scale expansion to high-quality development, with a focus on differentiated strategies to navigate challenges in a low-interest-rate environment and market volatility [1] Group 1: Differentiated Competitive Advantage - The company emphasizes inclusive finance as a core element of its strategy, targeting over 80% of conservative and stable individual clients who prioritize low volatility and stable returns over high yields [2][3] - The company aims to maintain the position of fixed-income products as a cornerstone, optimizing cash management and stable fixed-income product offerings to enhance clients' return certainty [2] - A product matrix is being developed to cover all life cycles and risk levels, simplifying processes for ordinary residents to access professional asset management services [3] Group 2: Commitment to the Real Economy - The company views serving the real economy as its fundamental mission, leveraging its unique advantages to connect resident wealth with the real economy [4] - It aligns its product offerings with national strategic directions, focusing on key areas such as advanced manufacturing and green development, while avoiding a "channelized" investment model [4][5] - The company has launched various thematic products, including carbon neutrality and ESG, to meet both economic and social responsibilities [5] Group 3: Strengthening Professional Capabilities - The company is shifting from an asset-driven to a strategy-driven model to ensure sustainable development, focusing on enhancing its research and investment capabilities [6] - A comprehensive investment research framework is being established to cover multiple asset classes, supported by financial technology tools to improve decision-making accuracy [6][7] - The company is implementing standardized management processes for products, ensuring risk control and compliance as core assessment indicators [7] Group 4: Strategic Direction and Future Outlook - The company is committed to maintaining strategic focus, enhancing professional capabilities, and deepening its engagement with the real economy to build a competitive asset management brand [8] - The "14th Five-Year Plan" period is seen as crucial for the asset management industry to improve quality and efficiency, balancing opportunities and challenges [8]

Core Viewpoint - Meituan's acquisition of Dingdong Maicai highlights the strategic need to enhance its supply chain capabilities in the fresh produce sector, addressing its limitations in self-operated product supply chains and brand recognition compared to Alibaba's Hema [1][2] Group 1: Acquisition Rationale - Dingdong Maicai possesses unique operational capabilities, allowing for precise monitoring and management of fresh produce sales, which helps minimize waste and achieve profitability [1][5] - The acquisition serves as a means for Meituan to quickly acquire a validated system that enhances unit economic efficiency (UE) in the fresh produce category, directly competing with Alibaba's Hema [2][5] Group 2: Industry Dynamics - Instant retail is fundamentally different from traditional e-commerce, governed by "shelf economics" rather than the "long tail theory," necessitating a focus on high-turnover, core products due to limited shelf space and associated costs [4][5] - The concept of UE is critical, determining the profitability of each order and product placement after accounting for all associated costs; Dingdong Maicai's digital system has successfully identified pathways to achieve positive UE in a high-waste category [5][6] Group 3: Competitive Landscape - Meituan and Alibaba represent contrasting business models: Meituan focuses on an "efficiency model" with stringent UE requirements, while Alibaba operates an "ecosystem model" that can absorb short-term losses for long-term market cultivation [7][8] - Meituan's strategy involves leveraging the acquisition to enhance its supply chain operations and brand assets in the fresh produce sector, transitioning from speed to precision and waste reduction [8][10] Group 4: Future Trends - The future of instant retail will shift towards low-frequency, high-value products, requiring advanced algorithms and intelligent systems to optimize every aspect of the supply chain [10][11] - The competition will evolve into a battle of AI-driven infrastructure, with Meituan aiming to integrate AI capabilities into its supply chain to enhance decision-making and operational efficiency [10][11]

这一举措"具有明显的现实针对性"，有助于降低企业在进入新市场时的信息成本和制度适应成本。 2月11日，国家层面海外综合服务平台正式上线运行，旨在为5.2万家境外企业及数十万家外贸主体提供 全方位的"一站式"公共服务。 2025年10月，经国务院批准，商务部5部门联合印发《关于进一步完善海外综合服务体系的指导意 见》，这也成为我国首个海外综合服务领域的指导文件。 余心玎分析称，近年来，部分国家在贸易、投资和产业政策上的调整，使跨境经营面临的制度环境更加 复杂。这也使得我国企业对外布局的内生逻辑发生"结构性转变"，以往多是"增量选择"，在国内主业稳 固后，出海寻求成本洼地或市场拓展；而现在，越来越多的企业将出海视为保障供应链安全与长期存续 的关键路径，本质上是应对外部不确定性的现实抉择。 该平台是在商务部会同外交部、国家发展改革委、工业和信息化部、国务院国资委等部门共同印发《关 于进一步完善海外综合服务体系的指导意见》（以下简称《指导意见》）的基础上升级上线。 通过统筹法律、财税、金融、外事及经贸物流等跨领域资源，该平台不仅连通了各级政府部门与驻外使 领馆，更协同了百余家外国投资促进机构。目前，平台栏目总数已超过 ...

叮咚有利润，美团有流量。 年关将至，当各厂忙于分发AI红包之际，美团突然宣布收购叮咚买菜，引发市场关注。 要理解这起收购案的深层逻辑，首先需要看清叮咚买菜的独特价值与现实困境——它堪称生鲜电商赛道 的数字化"特种兵"，核心竞争力在于极致精细的运营能力：能按小时监控每个商品的销售数据，一旦发 现蔬菜、牛奶等品类销量不及预期，系统会自动触发降价并同步推送至用户社群，目标是赶在商品变质 前实现"零损耗"清仓。这种数字化运营能力，让叮咚买菜作为独立公司成功盈利，不仅证明了前置仓模 式的可行性，更打磨出一套能精准提升生鲜品类UE（单位经济效益）的精密系统。 在UE这把严苛的标尺下，美团与阿里两大巨头走出了截然不同的演进路径，它们的竞争本质是"连接效 率体系"与"商品生态龙头"两种商业模式的对决，各自有着鲜明的资源禀赋与核心挑战。 不过，叮咚既缺乏阿里生态的流量扶持，又无美团这样的超级App入口，仅依赖微信小程序的获客模 式，让其用户增长触及天花板，长期陷入"有利润，没规模"的窘境，寻求收购成为其持续发展的现实选 择。 美团的出手，击中了叮咚的战略焦虑。作为即时零售赛道巨头，美团的核心优势在于构建了强大的"连 接效率体系 ...

Core Viewpoint - The new management measures for the National Essential Medicines List emphasize the selection of drugs based on their clinical value and establish a rigid adjustment cycle of no more than three years for the list [1][2][3] Group 1: Essential Medicines List Management - The revised management measures state that the essential medicines should meet basic medical needs, be suitable for current national conditions, and ensure supply and affordability [2] - The previous version of the management measures had not been updated since 2018, with the current list containing 685 drug varieties [2] - The new measures highlight the importance of timely adjustments to the essential medicines list, with a focus on dynamic management and regular evaluations [2][3] Group 2: Clinical Value and Drug Selection - The new management measures stress the importance of clinical value in drug selection, aiming to include more innovative drugs that meet clinical needs [3][5] - The selection process for the essential medicines list does not accept applications from companies; instead, it is determined by a coordination mechanism involving 11 departments [3][5] Group 3: Coordination with Other Policies - The revised measures aim to improve coordination with other healthcare policies, including medical insurance and centralized procurement [6][8] - The management measures have removed the requirement for all grassroots medical institutions to exclusively use essential medicines, allowing for more flexibility in drug selection [7] - Future adjustments to the essential medicines list will consider various factors, including public health needs, disease spectrum changes, and drug safety monitoring [9]

从"增加"对华投资的评论来看，集中于"确保、维持竞争力""开发新产品、新服务、提高附加价值"为目 的的投资。 中国日本商会10日发布最新一期《会员企业景气・营商环境认识问卷调查》。调查显示，对2025年7月 ~12月本公司景气状况的认知比上次改善3个百分点。 在当前中国城市更新浪潮下，电梯更新改造与旧楼加装成为民生改善的重要课题，且中国电梯市场正 从"增量"向"存量+更新"的结构性转变。对此，贾宇辉表示，"日立电梯更新改造和加装的台量比例还将 持续提升。在旧改业务中，我们更注重产品的安全性、智能化与舒适性，同时融入绿色低碳理念，通过 加装能量回馈系统等技术，降低电梯耗电量，既符合国家政策导向，也能为用户节省使用成本。" 今年1月底，瑞穗证券中国子公司在北京正式成立，使得中国市场上的日资券商规模再度扩大。"依托这 一优势，瑞穗证券（中国）有望在跨境债券承销、中日企业投融资对接等领域抢占先机。"外资投行从 业人士刘莹对第一财经分析道。 面对当前全球都进入了AI和大数据时代，在华投资日企纷纷加快数字化转型步伐，以适应市场变化并 寻求新的增长点。中国日本商会此前发布的《2025年白皮书》显示，已有超过60%的制造业会 ...

（文章来源：第一财经） 据Mysteel数据显示，今日MMLC电池级碳酸锂（早盘）价格较昨日上涨2650元/吨，中间价报142200元/ 吨。 ...

据报道，2月12日，Kakao宣布与谷歌达成人工智能领域的战略合作。Kakao首席执行官在财报电话会上 表示，正与谷歌安卓团队合作以提升设备端人工智能服务。 （文章来源：第一财经） ...

在国家"双碳"目标引领下，绿色已成为高质量发展的鲜明底色。2025年10月，党的二十届四中全会提出，要加快经济社会发展全面绿色转型，建设美丽中 国，以碳达峰碳中和为牵引，协同推进降碳、减污、扩绿、增长，筑牢生态安全屏障，增强绿色发展动能。 创新绿色金融工具，多元支持业务拓展。2025年，平安租赁为支持更多绿色产业发展，持续推进绿色直接融资，相继发行2025年度第一期绿色中期票据续发 募集项目、2025平安租赁安新23期绿色资产支持专项计划等创新产品，有效引导资金投向新能源领域。2025年，公司先后荣获2024年度上海证券交易所公司 债券优秀发行人、2024年度最佳服务国家战略资本市场创新融资奖等十余项重要奖项，彰显了业界对其在绿色金融领域的卓越表现与创新实践的高度认可。 向善而行 以有温度的金融诠释责任担当 作为平安集团旗下专业从事融资租赁业务的子公司，平安国际融资租赁有限公司（以下简称"平安租赁"）自成立以来，充分发挥与实体经济高度链接的特性 以及"融资+融物"的业务属性优势，坚持可持续发展理念，将绿色金融深度融入业务布局与实践当中，成为推动产业升级与绿色转型的重要金融力量。 向绿而生 以融资租赁之力促进产 ...