刚刚上市的新股英矽智能，1月5日披露了一则BD(商务拓展)计划，公司与法国第二大制药公司施维雅 达成多年期研发合作，合作价值高达8.88亿美元。据了解，这也是2026年以来，生物医药行业的首单 BD。 针对此次合作，英矽智能联合首席执行官兼首席科学官任峰表示，对于英矽智能这样的平台型公司而 言，BD是一种非常高效的变现方式。希望通过优势互补，将这些早期项目交到具备强大临床与商业化 能力的合作伙伴手中，使项目能够在全球多中心临床中高效推进，并最终在上市和商业化阶段释放更大 的价值。 作为AI制药的明星企业，刚刚上市4个交易日的英矽智能股价大涨逾五成。不过，目前英矽智能仍处于 亏损状态，AI制药产业也整体处于商业化早期，需要漫长的临床试验来验证。 聚焦抗肿瘤领域靶点 1月5日，英矽智能发布公告称，已与施维雅达成多年期研发合作。该合作价值达8.88亿美元，将充分利 用公司自主研发的人工智能平台Pharma.AI，聚焦抗肿瘤领域具有挑战性的靶点，识别并开发全新的治 疗药物。 根据协议，英矽智能将有资格获得最高3200万美元的首付款及近期研发里程碑付款，并将主导运用人工 智能技术平台，发现及开发符合既定标准的潜在候选药 ...

1月5日，脑机接口概念成为新的市场热点，相关股票集体涨停，但脑机接口概念股的"纯度"却各不相 同，甚至不排除个别上市公司有蹭热点之嫌。投资者在追逐新热点的同时要注意甄别，缺乏实质性核心 技术的公司最好避而远之。 因此，投资者需要认真甄别脑机接口概念股的真伪。首先，投资者要深入研究公司的基本面。了解公司 的主营业务、研发实力、技术团队等情况，判断其是否真正具备在脑机接口领域发展的潜力。真正有实 力的公司，会在技术研发上持续投入，拥有专业的研发团队和丰富的技术储备，能够清晰阐述自身在脑 机接口领域的技术路线和商业应用场景。 其次，投资者需要关注公司的实际业务进展。查看公司是否有相关的产品或服务已经落地，或者在研发 过程中取得了实质性突破。而不是仅仅听信公司的宣传口号和概念炒作。只有将技术转化为实际的产品 和服务，才能为公司带来真正的收益，支撑股价的长期上涨。 最后，投资者还要保持理性和冷静的投资心态。市场的热点总是不断变化，投资者不能被短期的股价波 动所左右，盲目跟风炒作。投资是一项长期的行为，需要基于对公司价值的深入分析和判断。在面对脑 机接口这样的新兴热点时，更要谨慎对待，避免因一时的冲动而陷入投资困境。 （ ...

长期缺位后，三峡人寿保险股份有限公司(以下简称"三峡人寿")终于迎来总经理，1月4日，重庆金融监 管局接连下发两份批复文件，不仅核准了雷万春三峡人寿总经理的任职资格，终结了该职位长达七年的 空悬状态；同时同意重庆发展投资有限公司(以下简称"重庆发展投资")受让重庆渝富资本运营集团有限 公司(以下简称"渝富资本")持有的三峡人寿18.54%股权，标志着三峡人寿第一大股东正式易主。 作为重庆市唯一一家本土寿险法人机构，三峡人寿在连续亏损、业务规模持续缩水的背景下，能否借力 国资加码与治理重构实现破局，成为市场关注的焦点。 总经理就位 1月4日，重庆金融监管局发布批复显示，核准雷万春三峡人寿总经理任职资格。 截至北京商报记者发稿，三峡人寿并未在官网公布雷万春简历，但通过公开信息来看，雷万春曾扎根于 重庆寿险市场多年，亦有在头部寿险公司担任高管的从业经历。雷万春曾担任阳光人寿重庆分公司总经 理、阳光人寿总经理助理、重庆禾邦保险代理有限公司董事长等。资深企业管理专家、高级咨询师董鹏 分析，雷万春的本地保险业深耕经验能精准洞察区域市场动态，有望助力三峡人寿优化产品设计和渠道 布局。 雷万春就任前，三峡人寿总经理一职曾长期 ...

Core Viewpoint - The A-share market experienced a strong opening on January 5, 2026, with all three major indices rising significantly, marking a notable bullish trend and a potential continuation of the "slow bull" market phase for the coming years [1][3][5]. Market Performance - On January 5, the Shanghai Composite Index rose by 1.38% to close at 4023.42 points, achieving a "12 consecutive days of gains" record, the longest in over 30 years [3]. - The Shenzhen Component Index and the ChiNext Index increased by 2.24% and 2.85%, closing at 13828.63 points and 3294.55 points, respectively [3]. - The STAR 50 Index saw a remarkable increase of 4.4%, closing at 1403.41 points [3]. Trading Activity - The trading atmosphere was robust, with a total trading volume of approximately 2.55 trillion yuan across both the Shanghai and Shenzhen markets [1][3]. - The Shanghai Stock Exchange recorded a trading volume of 1.0673 trillion yuan, while the Shenzhen Stock Exchange had 1.4790 trillion yuan [3]. Sector Performance - The human brain engineering sector led the gains, with several stocks hitting the daily limit up, including Sanbo Brain Science and Botao Biology [3]. - Other active sectors included insurance, fourth-generation semiconductors, medical devices, and AI pharmaceuticals, all showing significant upward movement [3]. Individual Stock Highlights - China Satellite topped the individual stock trading volume with 19.454 billion yuan, followed closely by Sanhua Intelligent Control at 19.212 billion yuan [4]. - A total of 4185 stocks rose, with 127 hitting the daily limit up, indicating a strong profit-making effect for investors [4]. Future Outlook - According to a report from招商证券, A-share market is expected to see a net inflow of approximately 1.56 trillion yuan, providing liquidity support for a "slow bull" market [4]. - The core logic supporting the current bull market remains unchanged, driven by continuous policy support, a significant shift in household savings, and advancements in technological innovation [4]. - The current market phase is characterized as a "slow bull" or "long bull" market, potentially lasting 3-10 years, marking a significant investment period for Chinese assets [5].

"村改支"密集落地 新年伊始，中原银行"村改支"的步伐正按下加速键。1月5日，洛阳金融监管分局接连发布两则批复，同 意中原银行收购孟津民丰村镇银行、河南栾川民丰村镇银行两家机构，并设立相关支行，中原银行将承 接上述村镇银行清产核资后的资产、负债、业务和员工以及相关权利和义务。同日，濮阳金融监管分 局、平顶山金融监管分局分别发布批复，同意中原银行收购濮阳中原村镇银行、郏县广天村镇银行，并 将其改建为分支机构。而就在一天前，许昌金融监管分局已核准中原银行收购襄城中原村镇银行。 随着五则监管批复的落地，上述5家村镇银行未来将"变身"为中原银行43家支行，这也标志着中原银 行"村改支"落子全面提速。 回溯2025年11月，该行第二次临时股东大会便审议通过收购濮阳中原村镇银行、孟津民丰村镇银行、栾 川民丰村镇银行，拟以合计约7.8亿元的对价吸收合并其他股东股份，并将上述3家村镇银行改建为分支 机构；同年12月，该行第三次临时股东大会决议再添"新子"，会议审议通过收购郏县广天村镇银行、襄 城中原村镇银行两家机构并改建分支机构的议案。 11年前，金融豫军以破茧之势完成国内规模最大的城商行重组，中原银行应势启航。11年后，中 ...

刚刚上市的新股英矽智能，1月5日披露了一则BD（商务拓展）计划，公司与法国第二大制药公司施维 雅达成多年期研发合作，合作价值高达8.88亿美元。据了解，这也是2026年以来，生物医药行业的首单 BD。 针对此次合作，英矽智能联合首席执行官兼首席科学官任峰表示，对于英矽智能这样的平台型公司而 言，BD是一种非常高效的变现方式。希望通过优势互补，将这些早期项目交到具备强大临床与商业化 能力的合作伙伴手中，使项目能够在全球多中心临床中高效推进，并最终在上市和商业化阶段释放更大 的价值。 收入主要来自对外授权 本次合作前，英矽智能已先后与复星医药、赛诺菲、礼来等企业建立合作关系。英矽智能有四个肿瘤项 目已全部或部分对外授权予合作伙伴，相关I期临床试验正稳步推进中。 作为AI制药的明星企业，刚刚上市4个交易日的英矽智能股价大涨逾五成。不过，目前英矽智能仍处于 亏损状态，AI制药产业也整体处于商业化早期，需要漫长的临床试验来验证。 聚焦抗肿瘤领域靶点 1月5日，英矽智能发布公告称，已与施维雅达成多年期研发合作。该合作价值达8.88亿美元，将充分利 用公司自主研发的人工智能平台Pharma.AI，聚焦抗肿瘤领域具有挑战性的 ...

Core Insights - Beijing is positioning itself as the "first city of artificial intelligence" in China, with a comprehensive development plan that includes the establishment of AI innovation districts and a focus on core technology advancements [1][11] - The core industry scale of artificial intelligence in Beijing is projected to reach 450 billion yuan by 2025, with over 2,500 AI companies and 209 registered large models [1][5] - The city aims to enhance its original capabilities in AI theory and technology significantly within the next two years, aspiring to become a global leader in scientific intelligence and embodied intelligence [1][6] Talent Resources - Beijing has a significant talent pool, with 148 influential AI scholars listed in the AI 2000 global ranking, accounting for over 40% of the national total [3] - The city ranks second globally in terms of AI innovation and hosts numerous research institutions and educational platforms, including two national laboratories and four new R&D institutions [3][4] Ecosystem and Infrastructure - The city has developed a comprehensive ecosystem that integrates computing power, data, and algorithms, with advancements in domestic computing chips and software ecosystems [4][5] - Major AI models and platforms have emerged, with 209 registered models demonstrating capabilities that are among the best globally [4] Industry Cluster Development - By 2025, Beijing's AI core industry is expected to account for about half of the national total, with nearly 60 listed companies and around 40 unicorns in the AI sector [5] - The city is fostering a favorable business environment and rich application scenarios, which are crucial for enterprise growth [5] Nine Major Actions - Beijing plans to implement nine major actions to bolster AI development, including technology innovation, data quality enhancement, and application empowerment [6][8] - Specific initiatives will focus on foundational theories, core technology breakthroughs, and the establishment of a robust AI ecosystem [6][7] Innovation Districts - The first four AI innovation districts will be established in Haidian, Chaoyang, Shijingshan, and the Economic Development Zone, each with unique focuses and development goals [11][12][13] - These districts aim to enhance innovation resource density and entrepreneurial activity, positioning them as key engines for AI development in Beijing [11] Future Vision - The overall goal is to create a new intelligent economy and establish Beijing as a global AI innovation hub, with a core industry scale exceeding one trillion yuan [1][5]

Group 1 - Hainan has become a popular domestic travel destination during the New Year holiday, with a significant increase in tourism activity expected for the upcoming Spring Festival [1][3] - Flight prices from Beijing to Sanya have surged over 200%, with some flights seeing price increases of up to 246% during the Spring Festival period [3][5] - Hotel prices in Sanya have also risen sharply, with some high-end hotels experiencing price hikes of over 133% compared to regular rates [6][10] Group 2 - The demand for travel to Hainan is driven by factors such as the early booking of domestic flights, the benefits of Hainan's free trade port policies, and the traditional winter vacation travel trends [5][10] - Alternative destinations like Wanning and Lingshui are gaining popularity as travelers seek more cost-effective options due to high prices in Sanya, with Wanning being highlighted for its family-friendly offerings [8][9] - The overall hotel occupancy rates in Sanya remain high, with some hotels reporting nearly full bookings during the New Year holiday [6][10] Group 3 - The increase in flight and hotel prices reflects a shift in supply and demand dynamics, indicating a robust interest in Hainan tourism [6][10] - Travel agencies are responding to the high demand by offering new travel packages to alternative destinations, enhancing the overall tourism experience [10] - The trend of travelers seeking "value-for-money" options is expected to continue, influencing the strategies of airlines and tourism businesses [9][10]

Core Viewpoint - Blue Arrow Aerospace is making a significant move towards becoming the first publicly listed commercial aerospace company in China by submitting its IPO application, despite currently being in a loss-making position [1][6]. Company Overview - Founded in 2015, Blue Arrow Aerospace focuses on the research, development, and production of liquid oxygen-methane engines and launch vehicles, as well as providing commercial rocket launch services [3]. - The company aims to raise 7.5 billion yuan through its IPO, with funds allocated for enhancing reusable rocket capacity and technology [3]. Financial Performance - Blue Arrow Aerospace has reported cumulative losses of approximately 3.465 billion yuan from 2022 to the first half of 2025 [5][6]. - Revenue figures for the reporting period are as follows: 782,900 yuan in 2022, 3.9521 million yuan in 2023, 4.2783 million yuan in 2024, and 36.4319 million yuan in the first half of 2025 [6]. - The net profit figures for the same periods are -800.4 million yuan, -1.188 billion yuan, -876 million yuan, and -597 million yuan respectively [6]. Research and Development - The company has invested approximately 2.289 billion yuan in R&D over three and a half years, with annual R&D expenses of 487 million yuan, 830 million yuan, 613 million yuan, and 360 million yuan [7]. - As of June 30, 2025, Blue Arrow Aerospace employed 404 R&D personnel, accounting for 33.28% of its total workforce [7]. Market Context - The commercial aerospace sector is experiencing accelerated competition for IPOs, with several companies, including Yixin Aerospace and Star River Power, also in the listing guidance phase [8]. - The market is expected to grow significantly due to the expanding applications of satellites in communication, navigation, and remote sensing, particularly in 5G and IoT sectors [8]. Policy Support - Since 2025, favorable policies have been introduced to support the IPOs of commercial rocket companies, including the expansion of the fifth set of standards for the Sci-Tech Innovation Board [9]. - The National Space Administration's action plan for 2025-2027 emphasizes the development of low-cost, reliable, and reusable commercial launch vehicles [9]. Investment Challenges - The commercial aerospace industry faces high investment requirements and long return cycles, which place significant demands on companies' financial resources [10]. - Companies must navigate a complex triangle of technological reliability, cost control, and business model innovation to succeed in the market [10].

德国首都柏林西南部大片地区3日因火灾发生停电，约4.5万户家庭和2000多家企业断电，柏林警方正在 以"涉嫌纵火"为由展开调查。 据德国媒体4日报道，德国泰尔托运河一座悬索桥上发生火灾，导致通往附近发电厂的多条电缆受损， 造成柏林西南部地区停电。当前柏林大部分地区被积雪覆盖，气温在零摄氏度上下，依赖电力驱动的区 域供暖系统中断，大量家庭面临无暖可用的困境。 此外，部分区域的移动网络、交通信号设施也受到影响，商店也被迫停业，部分民众需考虑寻找临时住 处。 据报道，柏林警方已部署约300名警员赴事发区域，动用无人机从空中拍摄案发现场取证，并通过网络 呼吁民众提供线索。 柏林一官员称，此次事件是"明确的蓄意行为"，并表示"桥上被放置了燃烧装置"。德国《图片报》4日 报道称，德国警方已收到一封来自德国一极端组织的认领声明，目前，安全部门正在核实其真实性。 柏林电网表示，目前正在搭建临时供电系统，但由于电缆损毁严重，修复需进行大规模挖掘和电缆铺设 工作，而冬季低温、冻土等恶劣天气阻碍施工，预计所有用户需至1月8日才能完全恢复供电。目前已分 阶段为部分区域约7000户家庭和150家企业恢复供电。 报道称，此次停电规模与2 ...