对于中原银行加速整合村镇银行的举动，中国（香港）金融衍生品投资研究院院长王红英分析，此举一方面能够通过整合，化解区域局部金融风险，强化协 同发展效应；另一方面可助力银行深耕县域与乡镇领域，进一步夯实业务发展根基。从发展突破的角度看，"村改支"既能让金融服务触角延伸得更深更细， 精准触达小微企业与农户，契合国家发展战略导向；也能依托类似农资贷、加合贷等特色金融产品创新，进一步提升息差收入空间。 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。 事实上，中原银行布局"村改支"并非始于今日。早在2024年10月，该行便披露为落实防范化解金融风险攻坚战的相关政策要求，拟采取现金方式收购卢氏中 原村镇银行，并将其改建为分支 ...

Core Insights - The fresh yogurt brand "Yogurt Can" has been acquired by "Mo Yogurt," with the founder and initial team departing from the company [1] - "Yogurt Can" was established in 2023 as a project incubated by the tea brand "Gui Gui Tea" [1] - As of January 5, 2025, "Yogurt Can" has opened 635 stores, with an average consumer spending of 16.26 yuan [1] Company Overview - "Yogurt Can" launched its first store in Shanghai's Meiluo City on April 29, 2023 [1] - The acquisition by "Mo Yogurt" indicates a strategic move within the yogurt market [1] - No comments have been made by either "Yogurt Can" or "Mo Yogurt" regarding the acquisition [1]

北京商报讯(记者孔文燮)1月5日，宝钢包装（601968）发布公告称，当天召开公司第七届董事会第二十 一次会议，经全体董事一致同意，董事会审议通过了《关于选举公司董事长的议案》，同意选举吴健鹏 为公司第七届董事会董事长，任期自董事会审议通过之日起至第七届董事会届满之日止。 ...

（文章来源：北京商报） 北京商报讯1月5日，海光信息宣布，在近期举行的北京怀柔区2026年优化营商环境暨高质量发展推进大 会上，海光信息与怀柔科学城、科创发展中心正式签署战略合作协议，三方将围绕科研创新、成果转化 和算力基础设施建设开展深度协作，共同服务国家科技创新和区域高质量发展。 ...

公告显示，盈方微正在筹划以发行股份和/或支付现金相结合的方式购买资产并募集配套资金的事项， 本次交易标的资产为上海肖克利信息科技股份有限公司、FIRSTTECHNOLOGYCHINALIMITED（富士 德中国有限公司）、时擎智能科技（上海）有限公司的控股权。 盈方微表示，本次交易目前尚存在不确定性，具体交易方式、交易方案以后续公告的重组预案或重组报 告书中披露的信息为准。本次交易预计构成重大资产重组，不构成关联交易，不构成重组上市。公司预 计在不超过10个交易日的时间内披露本次交易方案，即在1月20日前披露相关信息，并申请复牌。若公 司未能在上述期限内召开董事会审议并披露交易方案，公司证券最晚将于1月20日开市起复牌并终止筹 划相关事项。 北京商报讯1月5日晚间，盈方微（000670）披露公告称，因筹划重大资产重组事项，公司证券自1月6日 起开始停牌。 （文章来源：北京商报） ...

Core Viewpoint - Zhejiang Kailesi Technology (Kailesi) is seeking to go public on the Hong Kong Stock Exchange, potentially becoming the first logistics robotics stock in Hong Kong, backed by logistics giant SF Express, which holds an 8.4588% stake in the company [1] Group 1: Company Overview - Kailesi is a provider of integrated intelligent in-house logistics robots, focusing on three core types: multi-directional shuttle cars, autonomous mobile robots, and sorting conveyors, addressing the entire in-house logistics process [2] - The company aims to reduce reliance on manual labor and enhance operational efficiency through the integration of robotics and intelligent software [2] - As of 2024, Kailesi holds a 1.6% market share, ranking fifth in the industry, with a significant revenue increase of 60.3% year-on-year, reaching 552 million yuan in the first nine months of 2025 [3] Group 2: Market Dynamics - The global smart in-house logistics robot market is projected to grow from 42.6 billion yuan in 2020 to 118.3 billion yuan in 2024, with an expected compound annual growth rate (CAGR) of 19.4% from 2025 to 2030 [2] - The Chinese market is expected to expand from 13.9 billion yuan in 2020 to 44 billion yuan in 2024, capturing 37.2% of the global market, with a projected CAGR of 20.2% [2] - Southeast Asia and the Middle East are identified as key growth regions, with market sizes expected to reach approximately 30 billion yuan and 53 billion yuan in 2024, respectively [3] Group 3: Financial Performance - Despite impressive growth, Kailesi faces significant profitability challenges, with a cumulative net loss of 629 million yuan from 2022 to 2024 and a net loss of 134 million yuan in the first nine months of 2025 [4][5] - The company attributes its losses to project delays related to lithium battery initiatives and a general slowdown in the industry, although it anticipates narrowing losses in 2024 and 2025 due to revenue growth and cost optimization [4] - The majority of Kailesi's revenue comes from the sale of robots and systems, with multi-functional systems accounting for 79% of this revenue in 2024, although their gross margin remains low [5] Group 4: Future Prospects - Kailesi aims to leverage its IPO to strengthen its market position and capitalize on the demand for logistics automation, with plans to use the raised funds for product line expansion, technology development, capacity enhancement, global market entry, and operational funding [5][6]

Core Insights - The demand for Directors and Officers Liability Insurance (D&O Insurance) in the A-share market is rapidly increasing, with 1,753 listed companies disclosing their purchase plans by the end of 2025, a 16% increase from the previous year, resulting in an overall penetration rate of 32% [1][3][4] Group 1: Market Trends - The number of A-share listed companies announcing D&O Insurance purchases reached 643 in 2025, a 19% year-on-year increase [3] - The penetration rate of D&O Insurance has significantly increased from less than 10% in 2019 to 32% by the end of 2025, marking a historic milestone [3][4] - Despite the rising demand, the average insurance premium rate for D&O Insurance has entered a downward trend, falling below 0.5% by the fourth quarter of 2025 [3][4] Group 2: Pricing Dynamics - The decline in insurance premium rates contradicts the common expectation that high demand would lead to increased prices, attributed to the growing number of insurers and irrational competition due to a lack of transparent claims information [4][6] - The current D&O Insurance premium levels are considered low compared to the risks faced by listed companies and their directors, suggesting a need for rates to align more closely with actual risk levels [4][5] Group 3: Operational Mechanism - The operation of D&O Insurance relies on the claims trigger mechanism, typically initiated by the first claim made during the insurance period, which can include regulatory investigations or investor lawsuits [5] - The claims process can be lengthy, often taking two to three years or more from the initiation of an investigation to the final payout [5] Group 4: Challenges and Recommendations - The D&O Insurance market faces challenges such as inadequate information disclosure, which hampers rational pricing and investor risk assessment [6][8] - Industry experts advocate for mandatory disclosure of D&O Insurance details in regular reports, including coverage amounts, premium standards, and claims history, to enhance transparency and investor understanding [7][8] - Strengthening risk education and establishing a mandatory information disclosure system are essential for improving the D&O Insurance market's maturity and effectiveness [8]

2025年8月8日，黑芝麻控股股东黑五类集团与广旅大健康签署了《股份转让协议》，黑五类集团将其持 有的黑芝麻约1.51亿股无限售流通股（占公司总股本20%），以每股6.25元的价格转让给广旅大健康， 转让总价款为9.42亿元。同时，黑五类集团及其关联方承诺，在股份过户完成后，将无条件放弃其剩余 持有的公司合计约1.33亿股股份（占公司总股本17.66%）对应的表决权。 随着股权转让事宜的推进，2025年12月17日，双方签署股份转让补充协议，将业绩承诺期从原本的2025 —2027年延至2026—2028年。调整后，黑五类集团承诺现有业务板块在2026—2028年分别实现合并报表 净利润不低于0.95亿元、1.05亿元和1.15亿元，三年累计承诺合并净利润不低于3.15亿元。 黑芝麻始创于1984年，旗下拥有黑芝麻糊中国第一品牌——"南方黑芝麻"，公司于1997年4月在深交所 上市，产业涵盖黑色健康食品、电子商务、大米加工、养老服务等。作为本次交易的受让方，广旅大健 康隶属于广西区属文旅产业集团体系，主要承担自治区在大健康和康养产业方向的投资、运营任务。 财报数据显示，2021—2024年，黑芝麻实现营收分别 ...

2026年开年，脑机接口刷屏国内外市场。随着脑机接口公司Neuralink创始人埃隆·马斯克明确给出设备 的量产时间表，这一前沿赛道正从实验室的科学探索加速走向商业化落地，行业或将迎来从"医疗试验 品"向"大众消费品"跨越的关键转折点。不过，自2024年初完成首例脑机接口设备人体移植后，尽管 Neuralink展示了令人印象深刻的临床成果，但侵入式脑机接口仍需面对生物相容性、长期稳定性等科学 难题。 大规模量产 触发此轮行情的直接导火索是Neuralink的最新动态。当地时间1月1日，马斯克在社交媒体宣布， Neuralink将于2026年启动脑机接口设备的大规模生产，并推进几乎完全自动化的手术方案。与此同时， OpenAI首席执行官萨姆·阿尔特曼支持的Merge Labs正分拆独立，主攻利用超声波读取脑部活动的新技 术路线。 两大科技巨头的动作表明，脑机接口正从单一的科学实验走向多元化的商业竞速。脑机接口（Brain- Machine Interface，BMI，也称BCI）是指在人或动物大脑与外部设备之间创建的直接连接，实现脑与设 备的信息交换。Neuralink是马斯克于2016年创立的脑机接口公司，致 ...

Group 1 - The core viewpoint of the news is that Beijing Vito Electric Co., Ltd. has submitted its IPO registration, marking the final stage of its listing process [1] - The company specializes in the research, production, and sales of a range of electrical connection products, including hard connections, flexible connections, contact components, laminated busbars, and CCS products, as well as synchronous decomposers [1] - The IPO was accepted on June 21, 2025, and was approved during the meeting on December 30 of the same year [1] Group 2 - Vito Electric aims to raise approximately 1.594 billion yuan through this IPO [2]