1月13日重点关注的财经要闻与资本市场大事： 1、国新办举行国务院政策例行吹风会，介绍《固体废物综合治理行动计划》有关情况 1月13日上午10时，国新办将举行国务院政策例行吹风会，国家发展改革委副主任周海兵、生态环境部 副部长李高和工业和信息化部、住房城乡建设部、农业农村部有关负责人介绍《固体废物综合治理行动 计划》有关情况，并答记者问。 2、国家卫生健康委将就时令节气与健康（小寒、大寒）有关情况举行发布会 1月13日下午3时，国家卫生健康委将召开新闻发布会，介绍时令节气与健康（小寒、大寒）有关情况， 并回答媒体提问。 （原标题：今日看点｜国新办举行国务院政策例行吹风会，介绍《固体废物综合治理行动计划》有关情 况） 1月13日，9家公司共发布9个股票回购相关进展。其中，4家公司首次披露股票回购预案，5家公司回购 方案已实施完毕。 从首次披露回购预案来看，当日共3家公司股票回购预案金额超千万。天益医疗、康比特、特瑞斯回购 预案金额最高，分别拟回购不超1.2亿元、5000.0万元、2000.0万元。从已完成回购来看，当日共4家公 司回购金额超千万。雅戈尔、理工能科、晓鸣股份已完成回购金额最高，分别回购8.98亿元 ...

Core Insights - Alo has appointed Benedetta Petruzzo as CEO of its international business, marking a strategic shift towards global expansion and luxury branding [1][2] - The appointment is seen as a direct challenge to Lululemon, indicating Alo's intent to strengthen its position in the high-end market [1][3] Group 1: Leadership and Experience - Benedetta Petruzzo brings extensive experience from the luxury sector, having previously held significant roles at Dior and Prada, where she drove substantial growth [2] - Her background in luxury brands is expected to enhance Alo's competitiveness in the global luxury activewear market [2][5] Group 2: Luxury Strategy - Alo's luxury strategy includes launching high-end products, such as a leather handbag line priced at $3,600, and opening a flagship store on the Champs-Élysées in Paris [3] - This move reflects Alo's ambition to capture high-end consumers and differentiate itself from Lululemon, which has a stronghold in functional and comfortable activewear [3][4] Group 3: Global Expansion - Alo has expanded its international presence, shipping to 128 countries and operating over 100 stores in 26 countries, with plans to open stores in Shanghai and Beijing [4] - The choice of high-end locations for new stores indicates Alo's strategy to target affluent and fashion-conscious consumers [4][5] Group 4: Competitive Landscape - Alo's luxury positioning aims to challenge Lululemon's dominance in the activewear market, which has been bolstered by its strong brand recognition and product quality [5][6] - The competition between Alo and Lululemon is expected to intensify, with Alo focusing on high-end consumer segments and innovative product offerings [6]

Core Insights - The Consumer Electronics Show (CES) 2026 showcased significant advancements in the advertising industry, highlighting the impact of artificial intelligence, data integration, and cross-industry collaboration on advertising strategies [1][8] Group 1: Stagwell's Innovations - Stagwell introduced its AI platform "The Machine," designed to optimize advertising creativity and data processing through intelligent agents, enhancing precision and efficiency in ad placements [2] - The platform connects various tools like Figma, Slack, and Adobe, creating a seamless advertising creation and management environment [2] - This innovation signifies a shift towards AI-driven systems in the advertising sector, promising to transform creative generation and execution [2] Group 2: Havas's AVA Platform - Havas launched the AVA (Advanced Virtual Agent) platform, integrating multiple leading AI models to enhance advertising across various business dimensions, including ad placement and data analysis [3] - The platform emphasizes security and compliance, providing a centralized AI environment for advertisers, which is crucial for data privacy [3] - AVA aims to improve audience understanding and optimize ad creativity and targeting decisions [3] Group 3: Omnicom's Omni Platform - Omnicom unveiled its AI-driven marketing platform, Omni, focusing on integrating internal resources to create a comprehensive marketing solution [4] - The platform's "Connected Capabilities" allow for real-time adjustments to ad strategies based on data and creative feedback, maximizing advertising effectiveness [4] - Omnicom's recent acquisitions enhance the platform's capabilities, providing a robust data infrastructure for global ad targeting and performance measurement [5] Group 4: WPP's Agent Hub - WPP introduced the Agent Hub, an internal application store featuring AI agents designed for creative and strategic advertising support [6] - The "super agent" function offers customized creative solutions and targeted marketing strategies based on client needs [6] - This platform indicates a deeper integration of AI in advertising creativity and strategy, enabling more precise decision-making [6] Group 5: Innovations from Social Platforms - Reddit launched "Max Campaigns," an automated ad buying tool that streamlines audience targeting, creative selection, and budget allocation [7] - Disney revealed a new ad video generation tool to help brands quickly create content for streaming platforms, enhancing ad creation efficiency [7] - The innovations presented at CES 2026 reflect a broader trend towards intelligent, automated, and precise advertising strategies across the industry [7][8]

陕国投A（000563）发布的2025年度业绩快报显示，2025年，实现营业总收入29.28亿元，同比增长 0.03%；营业利润达19.19亿元，同比增长4.53%；利润总额为19.17亿元，同比增长4.98%；净利润14.39 亿元，同比增长5.70%；扣除非经常性损益后的归属于上市公司股东的净利润14.35亿元，同比增长 15.27%；基本每股收益0.2813元，同比增长5.71%。 从资产规模来看，报告期末陕国投A总资产为297.5亿元，较期初增长16.89%；归属于上市公司股东的 净资产为191.66亿元，较期初增长7.15%；归属于上市公司股东的每股净资产为3.75元，较期初增长 7.14%。 日前，两家信托公司近日率先发布了2025年度业绩情况，引发行业关注。 与此同时，上海信托也通过官微发布了公司2025年度业绩情况。数据显示，上海信托2025年全年实现营 业收入23.99亿元，同比增长30%；实现净利润7.63亿元，同比增长14%。值得一提的是，其信托资产管 理规模近1.4万亿元，实现历史性突破，较2025年初增长50%。不过，据了解，相关数据为母公司口 径，未经审计。 ...

Core Insights - The National Healthcare Security Administration (NHSA) has announced a pilot program for the construction of a "Personal Medical Insurance Cloud" from February to December 2026, aimed at creating a new paradigm for smart healthcare management that covers the entire population and lifecycle [1][4] - The pilot will focus on three main areas: enhancing healthcare data governance, expanding data sources, and building dynamic multi-dimensional profiles for insured individuals [1][2] Group 1: Pilot Program Details - The pilot program will deepen healthcare data governance by integrating and managing core business data from designated medical institutions in real-time, ensuring data accuracy and completeness [1] - It will explore the integration of public health and health management data, particularly from wearable devices and home monitoring equipment, to effectively merge in-hospital and out-of-hospital health data [1][2] - A dynamic multi-dimensional profile will be created for each insured individual, incorporating health records, medical history, and financial data to provide personalized health recommendations and insights [2] Group 2: Benefits and Innovations - The Personal Medical Insurance Cloud aims to resolve common issues faced by the public, such as information silos and redundant paperwork, allowing insured individuals to manage their insurance affairs conveniently through mobile apps and online platforms [3][4] - The platform will prioritize data security through encryption, privacy calculations, and authorized access, ensuring that personal information and medical data are protected [3] - Future innovations may include personalized health management advice and precise policy notifications based on individual health data, enhancing user experience and supporting the reform of healthcare payment methods [3][4] Group 3: Implementation and Future Outlook - The pilot will be implemented in phases, initially focusing on breaking down data barriers and ensuring system stability, with plans to expand services based on feedback [5] - The initiative is seen as a critical step in reforming the healthcare security system, shifting from an institution-centered approach to one that prioritizes the insured individuals [4][5] - As the Personal Medical Insurance Cloud expands, it is expected to provide each insured person with a "healthcare manager," simplifying the reimbursement process and enhancing transparency and efficiency in healthcare services [5]

（原标题：善始善终，唐朝大将郭子仪传奇） 文博时空 作者 唐浩莹 郭子仪70岁大寿时，亲友齐聚庆贺，唯独六子郭暧之妻升平公主未到。郭暧酒后 失言，怒怼公主："你仗着你父亲是皇帝就骄横跋扈？若我父亲想做皇帝，哪有你家的位置"。公主受辱 后回宫哭诉，唐代宗却说："郭子仪若有此意，天下早就不是我们李家的了。"郭子仪知道儿子闯下了大 祸，当即绑着他入宫请罪。唐代宗见状大笑，握着郭子仪的手说："俗话说'不痴不聋，不做阿家阿 翁'，子女夫妻间的事，不必深究。"虽然皇帝没有追究，但郭子仪回家后，仍将郭暧杖打了数十棍棒才 算作罢。 以武入仕，走上武将道路 郭子仪，武则天神功元年（697年）出生在华州郑县（今陕西省渭南市华州区）的一个官宦之家。其父 郭敬之（667～744年）历绥、渭、桂、寿、泗五州刺史，授太中大夫、上柱国，以清廉刚正闻名当时。 晚年退休后，回到京城长安，居于常乐坊，安度晚年。郭子仪幼年时，父亲便带着他到处游历，开拓眼 界。八岁时，郭子仪对骑射表现出了极大的兴趣，尤其爱学《孙吴兵法》，于是父亲就因材施教，教授 他各种兵法武艺。 郭子仪像 后来，由于家道中落，郭子仪并没有参加文科，而是参加了武科。在武举考试中，他 ...

值得关注的是，彭骞的另一个身份，还是上市公司精测电子（300567.SZ）实控人、董事长。 1月9日，*ST聆达（300125.SZ）对外公告，因执行重整计划，公司控股股东变更为金寨金微半导体材 料有限公司（以下简称金微半导体），实际控制人则变更为彭骞。 根据《聆达集团股份有限公司重整计划》（以下简称：重整计划）对聆达股份出资人权益进行了调整， 以聆达股份现股本265,499,995股为基数（已扣除未完成回购注销的限制性股票），按每10股转增15股的 比例实施资本公积金转增股本，共计转增398,249,992股股票，转增完成后聆达股份总股本增至 663,749,987股（已扣除未完成回购注销的限制性股票）。前述转增的398,249,992股股票不再向现有股东 分配，全部按照重整计划的规定用于引入重整投资人和清偿债务，其中302,868,048股由重整投资人支付 现金予以受让，剩余95,381,944股用于抵偿聆达股份和金寨嘉悦的债务。 （原标题：精测电子实控人彭骞"入主"*ST聆达） 公告披露，重整计划的执行导致公司控股股东及实际控制人发生变化，金微半导体持有公司股份 112,750,000股，占公司总股本的 ...

Core Viewpoint - The legislative process of the Value-Added Tax (VAT) Law has focused on the issue of input tax deduction for loan services, which directly impacts corporate financing costs and tax burdens. The VAT Law will take effect on January 1, 2026, with the implementation regulations published on December 30, 2025, clarifying current rules and leaving room for future policy optimization [1]. Group 1: Loan Service Input Tax Deduction - The current VAT system has prohibited the deduction of input tax on loan services, which has been a contentious issue, particularly for capital-intensive industries like finance and real estate, increasing corporate financing costs [2]. - The deletion of the prohibition on input tax deduction for loan services in the VAT Law aligns with the logic of VAT reform and signals a positive policy adjustment, allowing companies to reasonably expect future deductions [2][3]. - The implementation regulations maintain the current prohibition on input tax deduction for loan services, indicating that there will be no comprehensive opening in the short term, which has garnered widespread attention from businesses [3]. Group 2: Future Policy Optimization - The temporary nature of the current prohibition on loan service deductions is emphasized, with a commitment from fiscal and tax authorities to evaluate the policy's effectiveness over time, suggesting potential future adjustments based on economic conditions and administrative capabilities [4]. - The legislative framework allows for easier policy adjustments at the State Council level without needing to amend the law, which could facilitate gradual opening of deductions based on industry and scenario trials [4]. Group 3: Non-Compensated Lending - The new VAT Law provides significant benefits by removing the requirement for non-compensated loans to be treated as taxable sales, which previously applied only to non-group enterprises [5][6]. - Starting January 1, 2026, non-compensated loans between enterprises will no longer fall under the VAT taxable scope, significantly reducing the tax burden associated with such transactions [6]. - Companies must remain aware that corporate income tax policies remain unchanged, and non-compensated loans must adhere to independent transaction principles to avoid tax complications [6].

Group 1 - The article reflects on a journey towards the north, symbolizing a quest for hope and connection to one's roots [1][2] - It describes the imagery of nature and the emotional landscape associated with the journey, highlighting the contrast between warmth and coldness [1][2] - The narrative emphasizes the deep longing for the hometown and the memories tied to it, portraying it as a sanctuary for the soul [2][3] Group 2 - The depiction of Wenzhou as a floating island in the southern Zhejiang region, characterized by its picturesque scenery and cultural richness [2][3] - The city is portrayed as a labyrinth of historical streets and stories, with the river reflecting the vibrant life along its banks [3][4] - Wenzhou is described as a culinary paradise, where local delicacies evoke a sense of nostalgia and connection to the past [5][6] Group 3 - The natural beauty of Wenzhou, including its mountains and rivers, is highlighted as a significant attraction that captivates visitors [6][7] - The city is presented as a melting pot of diverse cultures and dreams, where people from various backgrounds come together to shape a shared future [7][8] - Wenzhou is characterized as an evolving entity, continuously growing and changing, inviting ongoing appreciation and engagement [8]

就在这极致的白与静之境，湖心亭忽而渗出一点一滴暖色的光晕。亭内已有二人，炉火正红，酒香微 醺，见他来，并无惊讶问询，没有通名，没有叙礼，斟满一杯，推至他面前，邀他同饮。素昧平生的 人，在这天地皆白的时刻，因一炉火、一壶酒，成了短暂的同路人。他们举杯对饮，酒暖入喉，却化不 开心底更辽阔的寒。问起来历，那人答曰："金陵人，客此。"真好，这"客"字，它轻轻地将所有的山河 家国、身世浮沉都推远成了一生中短暂的一宿。而张岱一生，从钟鸣鼎食之家的"主"，到国破家亡后 的"客"；从明朝的"子民"，到清代的"遗民"，何尝不是一场漫长的客寓？酒尽揖别，小舟没入了更浓的 雪雾。雪还在下，下得更密更急，急于要将刚才那一点偶然的人声，那一点微弱的火光，都细细地妥帖 地埋藏起来，仿佛什么也不曾发生，恍然若梦。 许多年后，张岱在山中的破屋里写这场雪时，劣墨糙纸，他的手已是种过菜、劈过柴、历经了风霜与贫 瘠，他已经不是那夜拥毳衣炉火的公子。破屋如舟，身边的炉火早冷了，空余一层银白的灰。但当他提 笔写下"湖上影子，惟长堤一痕"时，那夜湖心亭的炉火，从记忆的灰烬深处复燃，穿过重重叠叠的破败 光阴，从字里行间蹿出来，真切地烫人地温暖了他。这倏忽 ...