Core Insights - The demand for high-end liquor has been declining, leading to a significant drop in sales for many liquor retailers, particularly during the second quarter of the year [1][2] - Despite a recent uptick in inquiries and orders, the overall sales volume and prices of high-end liquor remain lower than in previous years, with many retailers reporting a double-digit decline in orders for the upcoming holidays [1][9] - Marketing strategies among liquor brands are diversifying, with a focus on mid-range products and promotional activities to stimulate sales during the holiday season [4][7] Group 1: Market Trends - Retailers have observed a noticeable increase in inquiries and orders for high-end liquor in the last two weeks, particularly for brands like Moutai and Wuliangye, primarily for gifting and gatherings [2][3] - The overall sales of high-end and mid-range liquor are still below last year's levels, with many retailers relying on lower-priced products to maintain revenue [1][5] - The price of Moutai has seen slight fluctuations, with retail prices ranging from 1900 to 2000 yuan, but overall, prices have not significantly rebounded from earlier declines [5][6] Group 2: Brand Strategies - Major liquor brands are intensifying their marketing efforts for the upcoming Mid-Autumn Festival and National Day, with companies like Wuliangye and Moutai launching various promotional campaigns [4][7] - There is a notable price stabilization for certain high-end products, such as Guojiao 1573, which has maintained a consistent wholesale price, contrasting with the fluctuating prices of other brands [7][8] - The competitive landscape is shifting, with brands like Wuliangye and Guojiao 1573 experiencing different pricing strategies, reflecting their unique market positioning and sales focus [7][8] Group 3: Consumer Behavior - The majority of recent purchases are for gatherings or banquets, with many consumers opting for smaller quantities rather than bulk purchases, indicating a cautious approach to spending [5][9] - Retailers report that customers are increasingly price-sensitive, with many opting for promotions and discounts available through online platforms [6][10] - The overall sentiment among retailers is one of caution, with expectations that this year's holiday sales will not match the previous year's performance [9]

熟悉汇添富的人都知道，他们一直主打主动权益投资这张牌，素有"选股专家"之称。数年前，基于对资产配置趋势的前瞻判断，汇添富就开始将主动权益 投资能力积极延伸至固收+等领域，是在固收+业务上起步较早、发展较快、规模较大的公司。 在公募基金高质量发展的背景下，汇添富始终在思考，如何提升投资者获得感，更好满足中低风险偏好投资者"稳健但不平庸"的收益需求。正如公司总理 经张晖所说，越是在市场面临多重因素变化的时间内，越是要脚踏实地，坚守成立以来一以贯之的投资理念，更强调投资研究的规则化，全面检视和不断 优化投资决策和管理流程，持续强化团队建设。 在波谲云诡的市场中，汇添富旗下一批风格清晰稳定的固收+产品脱颖而出，过去一年，不论是低波动、中波动、还是高波动组合，都能在严控回撤的前 提下取得亮眼业绩。这也吸引了广大机构和个人投资者关注，多只产品份额较上年末实现成倍增长。 表1汇添富低中高波固收+产品稳中有进类型 | 类型 | 名称 | 过去一年涨幅 | 业绩基准 | 最大回撤 | | --- | --- | --- | --- | --- | | 低波 | 汇添富保鑫 | 5.49% | 4.24% | -1.01% | ...

南方财经全媒体记者胡慧茵 南宁报道 "12年前，马来西亚国家石油公司与广西龙头发动机制造企业玉柴集团强强联合，共同成立玉柴马石油合资公司，并充分发挥各 自优势。如今，玉柴马石油已连续十年荣获'LubTop中国润滑油十大品牌'称号，成为中国—东盟产业合作的典范。"9月17日， 马来西亚国家石油公司中国区首席代表李焱（Lisy Lee）在参与第22届中国—东盟博览会期间表示，马石油将继续发挥桥梁纽带 作用，推动区域能源产业高质量发展。 马石油是全球领先的能源与解决方案合作伙伴，业务遍及100多个国家和地区。据21世纪经济报道记者了解，自2003年进入中国 以来，马石油已在全国9个城市设立办公室、生产基地与实验室，业务覆盖液化天然气（LNG）、石化及润滑油三大板块，形成 高效、可靠、可持续的能源供应链。 去年，马石油先后与中石化、中石油达成战略合作。谈到这两项合作，李焱在接受21世纪经济报道记者专访时表示，与中国企 业建立战略合作，显示中马双方在技术共享、产业链协同和可持续发展目标上的高度共识。她进一步表示，这些合作有力促进 了创新资源整合与核心技术突破，为双方在全球能源转型中赢得了更广阔的发展空间，同时也为区域经 ...

Group 1 - The scale of public funds in China has surpassed 36 trillion yuan, reaching 36.25 trillion yuan by the end of August, with a monthly increase of 1.18 trillion yuan [1] - Stock funds increased by nearly 630 billion yuan in August, while mixed funds grew by over 330 billion yuan [1] - The scale of money market funds and QDII funds increased by 196.3 billion yuan and 67.2 billion yuan, respectively, while bond funds saw a slight decrease of 28.5 billion yuan [1] Group 2 - The digital RMB international operation center officially commenced operations, launching three major business platforms: cross-border digital payment, blockchain service, and digital asset platforms [1] - The Ministry of Commerce of China has added three US entities to the export control list, prohibiting dual-use items from being exported to them [2] - An anti-dumping investigation has been initiated against imported pecans from Mexico and the US due to evidence of dumping behavior affecting domestic prices [2] Group 3 - As of the end of August, there were 1.154 billion 5G mobile phone users in China, accounting for 63.4% of total mobile phone users, with 4.646 million 5G base stations [3] - The three major stock exchanges announced the holiday trading schedule for the National Day and Mid-Autumn Festival, with a market closure from October 1 to October 8 [3] - The China Securities Association is seeking opinions on a new guideline for stress testing of securities company trading settlement systems [3] Group 4 - The Hong Kong dollar has recently experienced its strongest 30-day appreciation since 2003, driven by changes in the currency market and strong performance in the Hong Kong stock market [4] Group 5 - The People's Bank of China conducted a 4.835 trillion yuan reverse repurchase operation and a 600 billion yuan MLF operation on September 25, resulting in a net injection of 296.5 billion yuan [5] - Xiaomi launched its 17 series smartphones starting at 4,499 yuan, featuring the fifth-generation Snapdragon 8 processor and a 7,000 mAh battery [5] - Chery Automobile successfully listed on the Hong Kong Stock Exchange, raising 9.14 billion HKD, marking the largest IPO for a car company in the Hong Kong market this year [5] Group 6 - The stock of Upwind New Materials will be suspended from trading starting September 26 due to multiple instances of abnormal trading fluctuations [6] - The US stock market saw a collective decline, with the Dow Jones down 0.38% and the Nasdaq down 0.5%, while Oracle and Tesla experienced significant drops [6] Group 7 - Chinese residents are expected to direct more savings towards financial investments, particularly in high-quality projects aligned with national strategic directions [7] - Two banks are set to distribute cash dividends, with Shanghai Rural Commercial Bank announcing a payout of 0.241 yuan per share totaling 2.324 billion yuan, and Changsha Bank announcing a payout of 0.20 yuan per share totaling 804 million yuan [7]

今日关注 1、中基协发布数据显示，我国公募基金规模首次突破36万亿元大关，截至8月底达到36.25万亿元，单月猛增1.18万 亿元。受益于股票市场上涨，股票型基金规模在8月增长近6300亿元，混合型基金增长超3300亿。货币基金和QDII 基金规模分别增长1963亿元和672亿元。股债跷跷板效应下，债券基金规模小幅下降285亿元。 2、数字人民币发展迈出重要一步。9月24日，数字人民币国际运营中心正式运营，并推出三大业务平台——数字人 民币跨境数字支付平台、数字人民币区块链服务平台及数字资产平台。央行副行长陆磊表示，目前已初步构建数字 人民币跨境金融基础设施体系。 宏观经济 1、商务部回应中美大豆贸易相关问题表示，美方应采取积极行动，取消相关不合理关税。对于购买波音飞机谈判 进展，商务部称，中美两国在经贸领域拥有广泛共同利益和广阔合作空间。当前影响中美正常经贸合作的最大障碍 在于美单边限制措施。 2、商务部发布公告，决定将扁平地球管理公司等3家美国实体列入出口管制管控名单，禁止两用物项对其出口，任 何出口经营者不得违反上述规定。同时，将爱尔康公司等3家涉台军售美国实体列入不可靠实体清单，禁止上述企 业从事与中 ...

Core Viewpoint - The article emphasizes the strategic importance of marine economy for high-quality urban development, highlighting Zhuhai's transformation into a leading marine economy hub through innovation and infrastructure development [2][3][19]. Marine Economy Development - The Guangdong provincial government has prioritized the development of the marine economy, aiming to create a modern marine industry system with international competitiveness [2][3]. - Zhuhai, known as the "City of a Hundred Islands," is leveraging its strong manufacturing base, technological innovation capabilities, and rich marine resources to become a key player in the marine economy [3][4]. Economic Contributions - By 2024, Zhuhai's marine production value is projected to reach 100 billion yuan, accounting for 22.3% of the city's GDP, with a contribution rate of 26.4% to economic growth [3][4]. - The city aims to achieve a marine production value of over 130 billion yuan by 2027, with an average annual growth rate of 10% [4]. Innovation and Technology - Zhuhai is focusing on technological innovation to enhance its marine economy, with over 40 marine technology innovation platforms and more than 60 marine research teams across its universities [12][14]. - The establishment of the Southern Marine Laboratory has led to the development of advanced marine equipment and technologies, enhancing the city's competitive edge in marine industries [14]. Infrastructure Development - Zhuhai has launched 108 "new marine infrastructure" projects with a total investment of 110 billion yuan, aiming to create a comprehensive digital infrastructure system for marine development [19][20]. - The city is working on integrating land and marine infrastructure to enhance its regional competitiveness and establish itself as a marine center [19][20]. Application Scenarios - Zhuhai is developing various application scenarios for its marine economy, including low-altitude logistics and marine ranching, to drive industry growth and innovation [6][8][9]. - The city has introduced a "three lists" approach to identify and promote marine technology innovation opportunities, addressing the challenges of matching products with application scenarios [7][10].

3日涨超16%，半个月涨超30%，3个月涨超50%，半导体设备板块以"一骑绝尘"的姿态引领科技股反弹，成为A股市场最亮眼的明星。 但在狂欢之后，9月25日，半导体设备指数出现回调。 回调是机会还是风险？ 21世纪经济报道记者采访的多家机构指出，这场由AI需求驱动的狂奔，背后的核心逻辑依然坚挺。 近期，半导体设备板块迎来爆发式上涨。 9月22日至9月24日，中信三级行业指数中的半导体设备指数分别上涨1.95%、5.49%、8.65%，3天累计上涨16.85%，在276个中信三级行业指数 中位列第一。 以9月24日为例，多只半导体设备主题ETF盘中一度涨停，截至当日收盘，国泰基金、易方达基金、万家基金旗下中证半导体设备ETF领涨， 涨幅分别为9.55%、9.44%、9.4%，华泰柏瑞科创半导体设备ETF上涨9.1%，招商半导体设备ETF上涨8.67%。 拉长时间来看，9月10日至9月24日，在中信三级行业指数中，半导体设备指数大涨逾33%，在276个细分行业中位列第一。 对此，止于至善投资总经理何理分析，近期半导体设备指数表现突出由多个因素推动：首先，长存三期（武汉）集成电路有限责任公司9月5日 注册成立，长存三 ...

受访人士向21世纪经济报道记者指出，当前，地方国资接盘券商股权虽成主流，但是优质资产需匹配优质资源。目前券商行业已从量的扩张转 向质的提升，券商股东有可能会重新评估券商牌照的战略价值，而不是进行简单的资产划转。 图片来源：视觉中国 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 又一家中小券商的股权转让"中途夭折"。 9月24日，红塔证券公告称，云南省投资控股集团有限公司（以下简称"云投集团"）与云南云投资本运营有限公司（以下简称"云投资本"）协 商一致，双方决定解除此前签署的《关于红塔证券股份有限公司股份转让协议》，并终止非公开协议股份转让交易及相关后续工作。 目前，云投集团持有红塔证券8.17亿股份，占后者总股本的17.33%。按照此前的股份转让协议，云投集团拟将所持红塔证券股份全部转让给云 投资本。 回顾来看，2023年7月17日，云投集团发出关于筹划持有红塔证券股份变动的函，其拟将所持红塔证券股份8.17亿股（占公司总股本比例为 17.33%）变动至下属企业云投资本（云投集团持有云投资本73%的股权）。 2023年8月9日，云投集团及云投资本签订《关于红塔证券股份有限公司之股 ...

9月24日晚间，国际铜价突然大幅上涨，LME铜重返10000美元高位。 期货机构普遍将其归结为，自由港麦克莫兰旗下印尼格拉斯伯格（Grasberg）铜矿因重大泥石流事故所 引发的意外停产。 相关数据显示，Grasberg铜矿是全球在产的第二大铜矿，2024年铜产量达到81.6万吨，约占全球铜矿产 量的3.6%。 以上停产事件，会直接导致其产量的下降。自由港公司预计，2026年Grasberg铜矿产量将较之前的预估 值77万吨下降35%，直到2027年其产量才会回到停产前水平。 这使得本就处于供需紧平衡的铜市，再次加重了未来铜精矿紧张的预期，并引发了短期期货、证券市场 的剧烈波动。 仅就证券市场而言，9月24日美股自由港麦克莫兰大跌近17%，单日市值损失达到110亿美元。 然而，悲喜并不相通，南方铜业、紫金矿业等其他铜矿生产商股价，则在年内积累可观涨幅的基础上进 一步拔高。 截至9月25日收盘，紫金矿业总市值已经冲上1000亿美元。 根据公司官网披露，初步评估表明，随着维修工作的完成以及分阶段重启和产能提升工作的开始，这些 影响可能会导致近期（2025年第四季度和2026年）的大量生产被推迟。 自由港公司预计， ...

一场新闻发布会上，央行、金融监管总局、证监会联合宣布了涵盖降准、降息、降存量房贷利率、引导 中长期资金入市等一系列重磅金融政策，立刻引爆市场行情。 一组数据的对比或许更为直观。 Wind数据显示，2024年9月24日前一年，上证指数增幅为-8.6%，深证成指增幅为-17.12%，恒生指数增 幅为5.22%；科创100指数增幅为-33.04%。2024年9月24日后的一年，上证指数增幅为40.19%，深证成 指增幅为65.23%，恒生指数增幅为45.33%；科创100指数增幅为121.85%。 受股指增长的提振，成交额也均实现翻倍。2024年9月24日前一年，上证指数、深证成指、恒生指数、 科创100的成交额分别为82.09万亿元、107.13万亿元、25.25万亿元、3.04万亿元；而一年之后的成交额 分别为165.91万亿元、240.29万亿元、59.49万亿元、8.07万亿元。 一年前的9月24日是A股市场的关键转折点。 最后一段是7月中下旬以后，即股票市场3500点一直到现到3800点之前。而这一阶段又表现出了明显的 股债跷跷板效应。原因是，突破3500点这一关键点位之后，市场开始相信牛市已经再次开启， ...