Group 1 - The U.S. stock market showed mixed results, with major indices fluctuating and most Chinese concept stocks declining [1] - Nvidia experienced a significant intraday surge, rising over 4%, with Goldman Sachs analysts projecting Q4 2025 revenue to reach $67.3 billion, exceeding market expectations [3] - Oracle's stock surged nearly 9.6%, marking its largest intraday gain since December of the previous year, following an upgrade from Davidson Investment Bank from "neutral" to "buy" [3] Group 2 - Storage stocks weakened, with Micron Technology falling nearly 2.5% and SanDisk dropping over 1.4%, as Nvidia may exclude Micron's HBM4 from the first-year production of its Rubin architecture [5] - The weight loss drug sector saw gains, with Novo Nordisk rising over 5% and Eli Lilly increasing nearly 1%, while Hims & Hers plummeted over 25% due to a lawsuit related to a generic version of semaglutide [5] - The gold and silver markets rebounded significantly, with spot gold rising over 1.4% to nearly $5,040 per ounce and spot silver increasing over 5% to $81.696 per ounce [5][6] Group 3 - International oil prices saw a short-term rise, with WTI crude oil and ICE Brent crude both increasing by 1%, and WTI crude surpassing $64 per barrel [6] - Upcoming U.S. non-farm payroll and CPI reports are expected to provide crucial insights into the Federal Reserve's monetary policy direction, with potential for significant market volatility if the data indicates "weak employment + stubborn inflation" [7] Group 4 - The UK faced a "triple whammy" in its stock, bond, and currency markets, with the FTSE 100 index and GBP/EUR exchange rate both plummeting, and the 10-year government bond yield approaching its highest point since November of the previous year [9] - The resignation of two senior officials from the UK Prime Minister's office within 24 hours has raised concerns about political stability, which may impact market confidence [9]

(作者：王沛然,郑凯骏,实习,编辑：王沛然) APEC高官会议期间广州提供全方位便捷支付支持 ...

21世纪经济报道记者 孙永乐 近日，据湖北省纪委监委网站消息，湖北开放大学党委副书记、校长陈志祥涉嫌严重违纪违法，目前正接受湖北省纪委监委纪律审查和监察调查。 湖北开放大学是湖北省人民政府举办的省属本科新型高等学校。学校前身为湖北广播电视大学，创办于1979年1月。2020年12月，经湖北省人民政府批准并 报教育部备案，湖北广播电视大学正式更名为湖北开放大学。 值得注意的是，陈志祥此次被查，距其调任湖北开放大学校长不足两年。 赴任高校前，他曾担任湖北宏泰集团有限公司（简称"湖北宏泰集团"）党委副书记、总经理，同时兼任天风证券党委书记。 跨界任职未满两年 据"三峡新闻"微信公众号此前报道，陈志祥，男，汉族，湖北安陆人，1973年8月生，博士研究生学历，经济学博士学位，2002年7月参加工作。 陈志祥曾任中国证监会湖北监管局上市公司监管一处副处长、机构监管处副处长、信息调研处副处长，湖北省农村信用社联合社副主任、党委委员，武汉光 谷联合产权交易所有限公司党委书记、董事长，2019年9月任湖北省宏泰国有资本投资运营集团有限公司党委副书记、总经理，2022年1月任湖北宏泰集团有 限公司党委副书记、总经理，2023年4 ...

2026年2月，字节跳动旗下AI视频生成模型Seedance2.0在小范围内测阶段便席卷海内外互联网，凭 借"文本/图片生成电影级视频"的突破性能力成为行业内外焦点。 而影视飓风创始人Tim（潘天鸿）发布的实测视频，更让这款模型的技术实力广为人知，《黑神话：悟 空》之父冯骥也评价说，Seedance 2.0是当前地表最强视频生成模型，没有之一。 （文章来源：21世纪经济报道） ...

Core Viewpoint - The article discusses the narrowing of the AH premium, highlighting the significant reduction in the discount rate for companies listed in both A-shares and H-shares, particularly noting Dongpeng Beverage's recent listing as having the second-lowest discount rate since 2015 [1][4]. Group 1: AH Premium Dynamics - Dongpeng Beverage's H-share discount rate at 14% is significantly lower than the average of approximately 33% since 2015 [1]. - The overall AH premium index has decreased from a near ten-year high of 161.36 points in February 2024 to 119.44 points by February 2026, returning to levels seen in 2019 [1]. - The narrowing of the AH premium is attributed to improved liquidity in the Hong Kong market, driven by increased participation from southbound funds, a weak dollar environment, and improved profitability in Hong Kong stocks [3][4]. Group 2: Southbound Fund Influence - Southbound funds have become a stabilizing force in narrowing the AH premium, with their market participation exceeding 30% in August 2025 [4]. - In 2025, net inflows from southbound funds reached a record high of 1.4 trillion HKD, with over 120 billion HKD net inflows recorded by February 2026 [4]. - The influx of southbound funds has improved liquidity in the Hong Kong market, reducing the liquidity gap between A-shares and H-shares [4]. Group 3: Valuation Disparities - Some leading companies have experienced a phenomenon where H-share prices exceed A-share prices, known as "premium inversion," with notable examples including CATL and China Merchants Bank [5][6]. - The preference of foreign investors for globally competitive stocks leads to higher valuations for certain companies, impacting the AH premium [6]. - The valuation divergence between large-cap leading stocks and smaller-cap stocks reflects a "Matthew Effect," where larger companies attract more investment and liquidity [7][10]. Group 4: Market Structure Changes - The article notes that the AH premium is influenced by sector-specific dynamics, with significant variations observed across industries [10]. - The introduction of new listing rules allowing growth companies to list in Hong Kong may further alter the perception of AH premiums [11]. - The potential expansion of the dual-counter model allowing mainland investors to trade Hong Kong stocks in RMB could further narrow the valuation discount between A-shares and H-shares [11].

近日，字节跳动旗下AI视频生成模型Seedance2.0在小范围内测阶段便席卷海内外互联网，凭借"文本/图片生成电影级视频"的突破性能力成为 行业内外焦点。 而影视飓风创始人Tim（潘天鸿）发布的实测视频，更让这款模型的技术实力广为人知，《黑神话：悟空》之父冯骥也评价说，Seedance 2.0 是当前地表最强视频生成模型，没有之一。 2月9日，#Seedance2.0# 话题冲上微博热搜。 图源：影视飓风 在Seedance 2.0的带动下，2月9日A股最热闹的地方，非传媒板块莫属。中文在线、掌阅科技等多只股票排队冲上涨停，还有影视股也跟风起 飞。 AI视频迎奇点时刻 与当前市场上的主流AI视频模型相比，Seedance2.0聚焦于"具有原生音频的连贯多场景序列"制作。 开源证券在研报中给予Seedance2.0高度评价，认为其在四大关键能力上实现了行业突破：在自运镜和分运镜、全方位多模态思考、音画同步 生成、多镜头叙事能力等关键能力上实现突破，可为用户提供导演级的控制精度，或成为AI影视发展的重要节点。 记者丨雷晨 编辑丨骆一帆 东方证券研报提到，随着各家最新AI视频模型发布，国内视频生成领域的技术边界进 ...

Core Insights - The AI video generation model Seedance 2.0 from ByteDance has gained significant attention for its ability to create "movie-level videos from text/images" during its limited testing phase [1] - The model has been praised by industry leaders, including Tim from Yingshi Juifeng, who described it as the strongest video generation model available [1][8] Market Impact - Following the introduction of Seedance 2.0, the media sector in the A-share market saw a surge, with stocks like Zhongwen Online and Zhangyue Technology hitting their daily limits [4] - The model's capabilities are expected to reshape the content production industry, reducing costs and production times, particularly in short content areas like AI dramas and short films [7] Technological Advancements - Seedance 2.0 utilizes a dual-branch diffusion transformer architecture, allowing it to generate videos and audio simultaneously within 60 seconds based on user prompts or images [5] - It has achieved breakthroughs in key capabilities such as self-camera movement, multi-modal thinking, audio-visual synchronization, and multi-scene narrative generation, providing users with director-level control [6] Competitive Landscape - The launch of Seedance 2.0 adds a significant asset to ByteDance's AI portfolio, as the maturity of AI video technology is expected to lead to a restructuring of the content production value chain [7] - The competition in the AI video generation space is intensifying, with various companies expected to differentiate themselves based on specific application scenarios [6] Ethical Considerations - Concerns have been raised regarding the training data used for Seedance 2.0, particularly regarding the use of publicly available data and the implications for copyright and personal privacy [11][12] - ByteDance has implemented risk control measures during the testing phase, including restrictions on certain model functionalities to prevent misuse [12]

近期，不少上海消费者发现，承载着不少儿时记忆的本帮菜品牌上海小南国餐厅早已悄然歇业。据媒体 报道，2月初，小南国位于上海的多家门店在毫无预告的情况下就停止营业。 记者查阅大众点评显示，目前该品牌上海地区门店基本停业，无锡、珠海等地部分门店仍在运营。 有上海多位消费者在此前支付了年夜饭订金，"年夜饭就是在他家订的，昨天有店员电话提醒我赶紧换 餐厅。"消费者吉吉表示，"有问我的银行账号，说是公司会退款，但具体什么时间不知道。" 还有消费者在2月7日，仍不知情，打电话想订年夜饭，"接电话的人说小南国倒闭了，不要再打电话来 了。" 实际上，小南国的停业风波并非突然而至。有一位消费者1月底在上海小南国北外滩门店的评价中写 道，"刚上完冷菜，饭店经理来说，老板拖欠工资两个月，厨师集体罢工，出不了剩下的热菜了。"而这 餐饭是她提前半个月的定好的包厢，为吃年末的家庭聚餐。 而据上海小南国此前披露的2025年中期报告。报告期内，公司实现营业收入1.02亿元，同比下降 44.18%；归母净利润亏损1824.8万元，上年同期亏损2943.8万元。而彼时，2025年6月30日，集团运营 15家"上海小南国"餐厅及1家"南小馆"餐厅， ...

国家医保局发布通知，决定在尚未开展影像云集采的地区选点，并与已开展影像云集采地区达到条件的 定点医疗机构。组建医保影像云跨省秒调阅医院网络，以全国统一医保信息平台为依托，方便相关医疗 机构调阅所接诊患者在全国的医学影像检查资料，进一步优化跨省就医流程。 （文章来源：21世纪经济报道） ...

日前，丰田宣布了核心管理层的重大调整：57岁的首席财务官近健太将升任社长兼首席执行官，于4月1 日生效；原社长佐藤恒治转任副会长和新设立的首席行业官；现任会长丰田章男继续留任。 这一人事变动的背后，是丰田正遭遇的盈利承压与市场竞争双重挑战。丰田在2026财年第三季度（2025 年10月至12月）净利润大幅下滑43%，美国关税政策的持续侵蚀叠加电动化转型的长期资金储备需求， 让这家全球汽车销冠急需一位擅长成本把控的掌舵者，破解盈利困局的同时直面中国市场的激烈竞争。 在全球市场，丰田依旧保持着头部优势。2025年，丰田汽车全球销量再创纪录达到1132.3万辆，同比增 长4.6%。这是其连续第六年登顶全球车企销量榜，领先第二名大众汽车集团约230万辆。 但这份辉煌并未延伸至中国市场，曾经齐头并进的日系"两田一产"，如今在中国市场的命运已截然不 同。2025年，丰田在华销量微增0.23%，成为日系三强中唯一实现正增长的企业，而日产和本田则分别 下降6.26%和24.28%。根据中国汽车工业协会发布的数据，日系品牌在华的整体市场份额已从2020年的 23.1%萎缩至2025年的约9.7%，昔日的黄金时代不复存在。 即便 ...