光伏产业一向以"降本"为傲，20多年的时间里将光伏组件每瓦成本从超过20元做到不足0.8元。但2026 年的关键词是：提价。 历经两年多"内卷"的煎熬后，2025年年底光伏行业传来一系列好消息。 首先是2025年12月10日，光和谦成公司注册成立，这个"多晶硅产能整合收购平台"将按计划收购硅料产 能并将其关停，以实现将行业总产能保持在一定水平，进而实现硅料价格上涨的目标。 光伏行业"反内卷"的决心是坚定的。硅料收储企业有可能以较2025年年中传言的"硅料收储"方案更高的 资金量收储，收储产能数量则可能略低于预期。光伏龙头企业也可能用价格替代出货量，推动新一轮的 自律协议。 组件环节正在以组件效率为标准进行产能汰换。比如根据华能集团最新发布的一项招投标公告，组件转 换效率小于22%的标段已经被取消，更多的份额被分到了转换效率在23.8%以上的标段。 天合光能董事长高纪凡在2026年新年致辞中说，新的一年(2026年)，要进一步提升"反内卷"成效，推进 行业自律，实现以需定产;深化上下游协同，提升行业整体利润…… 另一个问题是：终端市场该如何消化光伏产业反内卷带来的成本增长?根据上海有色网数据，2025年12 月 ...

Core Insights - The travel and tourism market in China has experienced a significant surge at the beginning of 2026, with domestic scenic spot ticket bookings increasing over four times year-on-year, and inbound travel bookings also seeing substantial growth [1][2] Group 1: Domestic Travel Trends - The "post-00s" demographic represents the largest share of travelers at 39%, followed by the "post-90s" at 33%, indicating a shift in travel preferences towards self-indulgence rather than traditional sightseeing [1] - Popular domestic travel destinations include major cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, with provinces like Guangxi, Jiangsu, and Henan experiencing a doubling in travel orders [1] - Guangxi has launched over 400 cultural and tourism activities, leading to a 170% year-on-year increase in travel orders during the New Year period [1] Group 2: Booking Trends and Consumer Behavior - Major travel platforms like Tongcheng and Fliggy report a simultaneous increase in demand and supply for flights, hotels, and homestays during the New Year holiday, setting a positive tone for the 2026 travel market [2] - The search and booking interest in "intangible cultural heritage" tourism has surged by 85%, with cities like Luoyang and Xi'an ranking in the top 10 cultural destinations [2] - On January 1, hotel bookings on Fliggy increased by 280% year-on-year, while bookings for domestic leisure activities rose over 270% [2] Group 3: Car Rentals and Outbound Travel - The trend for self-driving trips continues to grow, with car rental bookings on January 1 increasing by over 120% year-on-year, particularly in regions like Hunan and Jiangxi [2] - Outbound travel has seen a notable rise in flexible and comfortable travel options, with chartered car bookings increasing over tenfold and rental car bookings up by over 210% on the same day [2]

Group 1 - South Korean President Lee Jae-myung will make his first state visit to China from January 4 to 7, 2026, marking him as the first foreign head of state to visit China in the new year [1] Group 2 - The recruitment process for mainland universities to accept graduate students from Hong Kong and Macau has started on January 4, 2026, with candidates required to register on the "Xuexin Network" and submit their applications online [2] - Each candidate is limited to applying for one program at one university, and late applications or modifications to submitted information are not permitted [2] Group 3 - The 2026 National Intelligent Agent Developers Conference will be held in Changzhou on January 4, 2026, aimed at promoting the integration of artificial intelligence technology into local industries [3]

Core Viewpoint - The article emphasizes the importance of effective planning management for managers in navigating the complexities of modern business environments, particularly in light of rapid technological advancements and changing customer needs [2][3]. Group 1: Importance of Planning Management - Planning management is a key function in management that is often overlooked, yet it is essential for reducing waste and ensuring productive outcomes [3][4]. - Effective management combines both performance management and planning management, as both are necessary for long-term success [5]. - Planning management serves as the foundation for all management activities, ensuring that organizational goals align with available resources [6]. Group 2: Challenges in Planning Management - Companies face inherent contradictions in their growth processes, such as balancing long-term and short-term goals, which planning management can help address [8]. - Managers must understand that goals are often inherently unreasonable, and the focus should be on the necessity of these goals rather than their rationality [10][11]. - The actions taken to achieve goals must be reasonable, emphasizing the importance of resource allocation and planning in executing strategies [12][14]. Group 3: Strategies for Goal Achievement - When faced with high targets set by leadership, managers should focus discussions on resource needs rather than the feasibility of the goals themselves [15][16]. - Engaging teams in discussions about market opportunities and customer value creation can foster a shared understanding and confidence in achieving set goals [16].

Core Insights - The "anti-involution" trend has significantly driven the multi-crystalline silicon futures market, with prices surging over 85% since June 2025, reaching a peak of 63,000 yuan/ton [1][15] - Market dynamics shifted due to policy expectations and increased capital inflow, leading to a substantial rise in futures prices [2][3] - Despite an overall supply surplus in the industry, the futures prices continued to rise, raising questions about the underlying market logic [2][3] Group 1: Market Dynamics - The multi-crystalline silicon futures market experienced a dramatic price increase from around 31,000 yuan/ton in June 2025 to over 63,000 yuan/ton by December 2025, marking a significant recovery from earlier lows [1][15] - The establishment of a storage platform and industry self-regulation initiatives have been pivotal in changing market expectations and driving prices higher [3][4] - The market saw a shift in trading logic in November 2025, with a significant reduction in warehouse receipts leading to increased bullish sentiment [2][3] Group 2: Investor Behavior - Many investors, particularly those holding short positions, faced severe losses as prices surged, with one investor reporting losses of up to 1.3 million to 1.5 million yuan [10][12] - The volatility in the market has led to a psychological impact on traders, with some choosing to exit positions under extreme pressure [7][10] - The market's structural shortage of deliverable goods has exacerbated the situation for short sellers, limiting their ability to correct price discrepancies through physical delivery [11][12] Group 3: Future Outlook - Analysts predict that the multi-crystalline silicon industry may continue to face a supply-demand imbalance, with supply growth expected at 3.7% and demand potentially decreasing by 10% in 2026 [16] - The market is expected to remain volatile, with ongoing debates about the effectiveness of policy measures and their impact on pricing mechanisms [16] - The ability of the industry to maintain profitability will hinge on whether costs can be effectively passed through to the end market, particularly in the context of solar module pricing [16]

这是2025年5月央行贷款政策调整的落地兑现，也是近年来针对居民部门规模最大、覆盖面最广的一次 利率调整。 （原标题：新年央行"双红包"：月供少了，信用清了?） 2026年1月1日，央行发的两个"红包"到账了：下调房贷利率，给家庭账本"减负"；修复征信记录，让曾 因逾期受阻的人重获平等融资机会。 1月1日，住房信贷领域重磅减负政策正式生效，存量公积金贷款与商业住房贷款同步执行新利率标准， 全国1.5亿房贷家庭迎来"新年红包"。 房地新政落地后，以一笔金额100万元、期限30年、等额本息还款的首套个人住房公积金贷款为例，月 供将由4136元降至4003元，减少约133元，总利息支出将减少约4.76万元。 而如以组合贷款商业住房抵押贷款与公积金贷款额度各100万元、贷款30年、等额本息还款方式计算， 此次利率降低后，累积30年月供减少6.76万元。 央行在2025年底宣布，于2026年1月1日起实施一次性信用修复政策，帮助已结清欠款的个人调整征信记 录。 该政策针对2020年1月1日至2025年12月31日期间产生的个人信贷逾期信息，?单笔逾期金额不超过 1万元?且?截至2026年3月31日已足额偿还债务?的记录 ...

Core Viewpoint - The extended lock-up period for Tianchuang Fashion's share transfer is notable, as it exceeds the standard 18 months mandated by the China Securities Regulatory Commission, indicating the acquirer's confidence in the company's long-term prospects [2][3][10]. Group 1: Tianchuang Fashion - Tianchuang Fashion announced a control change plan on December 27, with the acquirer committing to a 5-year lock-up period for the shares acquired [2][3]. - The company's main business focuses on mid-to-high-end women's footwear, with financial data showing revenues of 1.274 billion yuan, 1.099 billion yuan, and 744 million yuan for the years 2023 to the first three quarters of 2025, respectively, alongside continuous net losses [4][5]. - The share transfer agreement involves the major shareholders, with Quanzhou Hetian and Hong Kong Gaochuang transferring a total of 459.59 million shares (10.95% of total shares) and 377.74 million shares (9.00% of total shares) for 345 million yuan and 283 million yuan, respectively, at a price of 7.50 yuan per share, reflecting a 10% discount to the pre-suspension price of 8.33 yuan [5][6]. Group 2: Shareholder Commitments - The new major shareholder, Anhui Xianrui, has committed to a 60-month lock-up and a 36-month pledge restriction on the shares acquired, while the existing shareholders have also made similar commitments regarding their remaining shares [7][10]. - The commitments from the shareholders aim to ensure stability and avoid risks associated with potential restructuring failures, as noted by investment banking professionals [10]. Group 3: Industry Context - The trend of extended lock-up periods is not unique to Tianchuang Fashion, as similar arrangements were observed in the share transfer of Aolian Electronics, where the acquirer also committed to a 5-year lock-up [8][9]. - The background of the new shareholders in both companies is linked to industries that are currently considered hot, which may influence the perceived risks and market reactions associated with these transactions [10][12].

Group 1 - Parents should avoid excessively expressing their grievances to children, as it can lead to children feeling responsible for their parents' negative emotions and create unnecessary psychological burdens [2][3] - Children may mimic their parents' unhealthy ways of handling stress and conflict if they are exposed to constant complaints [3] Group 2 - Parents should refrain from discussing their sacrifices and contributions excessively, as it can induce guilt in children, making them feel they must sacrifice their own happiness [4][5] - Statements like "I did this for you" can lead children to feel they owe their parents, which can negatively impact their emotional well-being [5] Group 3 - Parents should not express financial anxieties in front of children, as it can transfer feelings of stress and inadequacy to them [6][10] - The focus should be on creating a supportive environment rather than projecting worries about money [10] Group 4 - Parents should avoid comparing their children to others, as it can diminish their self-esteem and create feelings of inadequacy [11][13] - Positive reinforcement of a child's unique strengths is more beneficial than making comparisons with peers [14] Group 5 - Parents should not criticize or attack their partners in front of children, as it can lead to children developing a pleasing personality or mimicking negative conflict resolution behaviors [15][17] - Such behavior can create confusion in children about trust and relationships, leading to anxiety in their future interactions [19][20]

Group 1 - The 10th China Beijing International Art Biennale is being held at the Beijing Exhibition Center with the theme "Symbiosis" and the purpose of "building a community with a shared future for mankind" [1] - The exhibition features over 600 top art pieces presented by artists from more than 100 countries and regions, showcasing new developments in contemporary painting and sculpture [1] - Contemporary art new categories represented by digital, video, installation, and new media continue to explore new ideas in global art creation, enhancing the discourse power and leadership of Chinese contemporary art on the world stage [1] Group 2 - The exhibition is scheduled to take place from December 29, 2025, to January 28, 2026, at the Beijing Exhibition Center [2]

Core Viewpoint - The photovoltaic (PV) industry, known for its cost reduction achievements, is expected to shift towards price increases in 2026 after a period of intense competition and low margins [2][3]. Group 1: Industry Developments - The establishment of the "Silicon Material Capacity Integration Acquisition Platform" by Guanghe Qiancheng aims to consolidate silicon material capacity and stabilize production levels to drive up silicon prices [3]. - As of December 17, 2025, the prices of photovoltaic modules have started to rise due to increases in commodity prices, including silver and silicon, along with production cuts by module manufacturers [3]. - Current silicon prices have risen to approximately 52,000 yuan per ton, with expectations that they could reach between 65,000 to 70,000 yuan per ton due to the capacity integration plan [3]. Group 2: Market Dynamics - The photovoltaic industry is undergoing a "reverse involution" strategy, with leading companies potentially prioritizing price over volume to establish new self-discipline agreements [3]. - The efficiency of photovoltaic modules is becoming a key standard for capacity replacement, with lower efficiency modules being phased out in favor of those with higher efficiency [4]. - The release of Document No. 136 in 2025 has restructured profit distribution across the industry chain, shifting the burden of consumption costs to photovoltaic power stations [4]. Group 3: Future Outlook - The new installations of photovoltaic systems in 2025 are expected to show a "pulse-like" growth pattern, with significant installations concentrated in the first half of the year, followed by a decline in the second half [5]. - Historical parallels are drawn to the 2018 policy changes that led to a sharp decline in new installations, indicating that policy shifts can create short-term challenges but may lead to new business models [5]. - Recommendations for photovoltaic developers include exploring domestic green electricity potential and promoting the use of green hydrogen, ammonia, and alcohol applications [5][6].