随着AI浪潮从训练阶段向推理应用大规模迁移，被视为"AI工作记忆"的存储板块正迎来前所未有的价值 重估。2026年首个完整交易周，美股三大股指全线大幅上涨。道指周涨2.32%，报49504.07点；标普500 指数周涨1.57%，报6966.28点；而纳指周涨1.88%，报23671.35点。其中，道指、标普500指数均创历史 收盘新高。 存储概念股也走高，闪迪单周大涨37.12%，股价再创新高，美光科技涨9.41%，西部数据和希捷科技分 别涨6.8%和5.73%。野村证券的一份研报指出，企业级SSD使用的大容量3D NAND需求持续火爆，闪迪 本季度相关产品价格环比或暴涨逾100%。 消息面上，一份野村证券近期的研报引发了市场传播。分析师指出，面对未来几个季度服务器级存储需 求保持强劲的背景，闪迪可能在本季度将其面向企业级固态硬盘（SSD）的大容量3D NAND闪存价格 上调一倍。 市场对存储板块的重估，核心逻辑在于AI工作负载的性质转变。IDC数据显示，全球年度数据生成量预 计将从2024年的173 ZB飙升至2029年的527 ZB，五年内增长两倍以上，复合年增长率约为25%。而AI模 型数据爆炸对存储 ...

当地时间1月9日晚，韩国首尔中央地方法院决定，将韩国前总统尹锡悦涉嫌发动内乱案结案庭审延期， 13日继续举行。 9日早上，韩国首尔中央地方法院就尹锡悦涉嫌发动内乱案举行结案庭审，与该案合并审理的前国防部 长金龙显、前警察厅长赵志浩、前情报司令官卢相源等7人的庭审也将于当天一并结束。 在结案庭审中，被告方首先就证据问题陈述意见，随后由负责调查本案的内乱特别检察组发表最终意见 并提出量刑要求。之后，各被告的辩护律师将进行最后辩论，尹锡悦等被告也将发表最终陈述，庭审程 序随即结束。 内乱特检组8日下午就量刑问题进行了长达6小时的内部讨论。 根据韩国《刑法》，发动内乱罪的法定刑为死刑、无期徒刑或无期监禁。特检方面围绕是否请求死刑或 无期徒刑等问题反复磋商，最终决定将由特别检察官作出。这也是自韩国前总统全斗焕因发动内乱罪被 起诉以来，韩国检方时隔30年再次就"内乱首脑"罪名明确提出量刑意见。 韩联社称，多数意见认为，考虑到尹锡悦犯罪情节严重、毫无悔意等因素，应请求法院判处其死刑。但 另有观点认为，考虑到死刑可能引发的社会影响以及可预期的实际量刑结果，向法院请求无期徒刑更为 妥当。 在结案庭审结束后，法院将进入评议阶段。 ...

Core Viewpoint - The draft regulation aims to standardize the collection and use of personal information by internet applications, ensuring the protection of individual rights and promoting reasonable utilization of personal data [1] Group 1: Collection and Use of Personal Information - The draft stipulates that the collection and use of personal information should minimize the impact on individual rights and be limited to what is necessary for providing products or services [1] - It emphasizes that personal information must be collected in a lawful, fair, necessary, and honest manner, without misleading or coercive practices [1] - Internet applications must inform users of the collection rules and obtain their consent, especially for sensitive personal information [1][2] Group 2: User Consent and Notification - Internet applications are required to notify users of personal information collection rules prominently at the first launch and obtain explicit consent [2] - Any updates to the personal information collection rules must be communicated to users through noticeable methods, such as pop-ups, and require re-consent [2][4] - Applications must not collect information from third parties without user consent, except for specific functionalities like contact management [2] Group 3: Biometric Data and Minor Protection - The collection of biometric data (e.g., facial, fingerprint, voice recognition) must have specific purposes and be necessary, with strict protective measures in place [3] - Biometric data should be stored locally on devices and not transmitted over the internet unless legally required or with user consent [3] - Special rules must be established for collecting information from minors under 14, requiring parental consent [3] Group 4: Updates and Permissions Management - Applications with over 50 million registered users or 10 million monthly active users must publicly solicit opinions on updates to their personal information collection rules [4] - The draft also mandates that smart devices must obtain user consent for accessing various permissions and provide detailed options for granular control [4][5] - Smart devices should transparently record and display the usage of permissions by applications, ensuring users are informed about data access [5]

近日，国务院反垄断反不正当竞争委员会办公室依据反垄断法，决定对外卖平台服务行业市场竞争状况 开展调查、评估。三大外卖平台第一时间表态支持，希望行业能够进行合理竞争，反对"内卷"。 国务院反垄断反不正当竞争委员会办公室有关负责同志表示，近段时间以来，外卖平台服务行业拼补 贴、拼价格、控流量等问题突出，挤压实体经济，加剧行业"内卷式"竞争，社会各方面反映强烈。 过去一年，外卖大战最先由京东掀起，此后在淘宝闪购与美团之间激烈展开。随后更是在电商多业态混 战中不断升级加码。 外卖平台的竞争也持续受到监管关注。2025年，监管曾不止一次针对外卖平台行业竞争中存在的问题， 对京东、美团、阿里等平台进行约谈，要求平台公平有序竞争。 北京商报评论员 陶凤 外卖行业一味进行存量博弈，平台厮杀导致资源浪费、效率低下和利润下降，不会有真正的赢家。这种 现象在早年的互联网大战中就有不少教训。 市场经济欢迎竞争，但不欢迎"内卷式"竞争。 一个健康发展的行业需要新的入局者，但竞争不该是内向消耗，更不该是各方停在原地、重复投入。如 此，既不能产生新的价值，也不符合以新供给创造新需求的促消费方向。 一杯奶茶一顿饭看似简单，实则与每个消费者息 ...

开年之际，银行不良贷款转让市场再度迎来利好：银登中心继续对转让业务暂免收取挂牌服务费，并对交易服务费给予8折优惠。起步于2021年1月的不良贷 款转让试点即将进入第六个年头，分析人士指出，银行不良处置压力持续存在、平台机制不断成熟，市场活跃度有望逐步回升，政策优惠将与资产供给节奏 形成动态配合，在监管趋严与政策扶持并行的新阶段，银行如何借助市场化渠道实现不良贷款精准"拆弹"，成为行业关注的核心课题。 费率优惠再度延长 新年伊始，银行不良贷款转让市场迎来双重政策利好。1月7日，银登中心发布通知，明确自2026年1月1日起，继续对不良贷款转让业务暂免收取挂牌服务 费，并对交易服务费给予8折优惠；同时，有消息称，监管部门已将不良贷款转让试点期限延长至2026年12月31日。 根据银登中心2022年出台的不良贷款转让收费办法，挂牌服务费针对出让方收取，交易服务费向买卖双方双向收取。在2022年及2023年，银登中心均发布相 关公告，对挂牌服务费采取免费、交易服务费8折优惠的措施。而今年这一费率优惠再度迎来延期。对此，苏商银行特约研究员武泽伟表示，银登中心延续 费率优惠是监管层为维持市场活力、降低机构处置成本的延续性举 ...

Core Insights - The exclusive commercial pension insurance has shown competitive settlement interest rates for 2025, ranging from 0.75% to 4.02%, with most products exceeding 3% [1][3] - This insurance product is a crucial part of China's multi-tiered pension system, providing a significant supplement to residents' long-term retirement savings [1][8] - The demand for exclusive commercial pension insurance is increasing, particularly due to the aging population trend, indicating strong growth potential for this sector [1][8] Product Performance - A total of 37 exclusive commercial pension insurance products have disclosed their 2025 settlement interest rates, with the average rate for stable accounts at 3.2% and for aggressive accounts at 3.12% [3][6] - Most products have settlement interest rates above 3%, with 30 stable accounts and 34 aggressive accounts exceeding this threshold [3][6] - Some products, such as those from Guomin Pension and Xinhua Pension, have rates exceeding 4% [4][5] Investment Strategy - The steady returns of exclusive commercial pension insurance are attributed to rigorous investment strategies and unique policy positioning, utilizing a "fixed income base, equity enhancement" asset allocation model [5][7] - Insurance companies are focusing on long-term government bonds and high-grade credit bonds to secure stable returns, while also investing in high-dividend, low-volatility blue-chip stocks [5][7] - Active management capabilities of insurance companies have improved, allowing for dynamic adjustments in investment portfolios to capitalize on market opportunities [7][9] Market Trends - The exclusive commercial pension insurance has transitioned from a pilot program to a normalized business model, expanding its reach across the country [8] - Recent policies have favored the development of third-pillar pension insurance, encouraging the creation of products that align with personal pension systems [8][9] - To enhance market competitiveness, insurance companies are advised to improve investment management and service quality, innovate product designs, and expand sales channels [9][10]

北京商报讯（记者 刘宇阳 实习生 姚榕琰）继2025年6月分红超83亿元，创下公募基金单次分红之最后，1月11日，华泰柏 瑞沪深300ETF相关公告显示，将以2025年12月31日为收益基准日，进行2026年第一次分红。 公告指出，本次分红方案为每10份基金份额分红1.23元，权益登记日为1月16日，除息日为1月19日，现金红利将于1月27日 发放。 值得一提的是，华泰柏瑞沪深300ETF为国内最大的ETF产品。Wind数据显示，截至1月9日，该基金总规模约为4373.5亿 元，总份额约为895.09亿份。若按照上述方案计算，此次分红总额将超110亿元，再度刷新国内公募单次分红纪录。 | 基金名称 | | 华泰柏瑞沪深 300 交易型开放式 | | --- | --- | --- | | | | 指数证券投资基金 | | 基金简称 | | 华泰柏瑞沪深 300ETF | | 基金主代码 | | 510300 | | 基金合同生效日 | | 2012年5月4日 | | 基金管理人名称 | | 华泰柏瑞基金管理有限公司 | | 基金托管人名称 | | 中国工商银行股份有限公司 | | 公告依据 | | 《公开募集 ...

北京商报讯(记者陶凤王天逸)1月10日，汉威科技（300007）在互动平台回复投资者称，公司基于柔性 微纳传感器技术，近年来对无创柔性脑机接口材料的研发及用于复杂脑信息协同监测、可植入柔性神经 电极材料及阵列化柔性电极等关键技术有所突破。但前述技术储备尚处于早期阶段，多与医疗机构及高 校科研团队开展研发合作，商业落地尚具有不确定性。 ...

Core Insights - Zara is expanding into new growth areas by launching trail running shoes, moving from fast fashion to outdoor sports [1][3] - Other brands like Uniqlo and Gap are also venturing into the outdoor sports sector, indicating a trend where the boundaries between sports and leisure are blurring [1][6] Product Launch and Features - Zara's trail running shoes feature a non-slip sole and a 7mm drop design, emphasizing grip and stability, priced at 549 yuan, making them accessible to ordinary consumers [3][4] - The shoes incorporate breathable knitted uppers, durable Shield Protect Max material, SPUME Foam V3 midsole, and removable Ortholite insoles, weighing approximately 290 grams [3][4] Market Trends - The outdoor apparel market is projected to grow to over $30 billion by 2034, with a compound annual growth rate exceeding 7% [6] - Tmall's outdoor category saw significant growth, with a 268% increase during the 2025 Double 11 shopping festival, indicating strong consumer demand [6] Competitive Landscape - Fast fashion brands like H&M and Uniqlo are also launching outdoor lines, with H&M introducing softshell jackets and Uniqlo updating its "light outdoor" products each season [6][7] - The entry of fast fashion brands into the outdoor market reflects a broader trend of outdoor activities becoming mainstream, although it poses challenges in balancing fashion and functionality [4][7] Strategic Implications - Zara's move into the outdoor sports sector aligns with the trend of casualization in sportswear, targeting non-professional outdoor enthusiasts and filling a price gap left by specialized brands [3][4] - Experts suggest that while the outdoor market presents growth opportunities, fast fashion brands must navigate the challenges of product functionality versus style to succeed [4][7]

2026年开年，光伏行业出现两项重要消息，多家硅料龙头接受市场监管总局约谈的余温还未散去，如今取消光伏产品增值税出口退税的消息也在圈内刷屏。 1月9日，财政部、税务总局发布《关于调整光伏等产品出口退税政策的公告》，其中提到自今年4月1日起，取消光伏等产品增值税出口退税，这也意味着光 伏的"退税补贴时代"即将结束。业内人士指出，光伏出口退税全面取消对组件厂商影响较大，预计也将在今年4月之前出现一波"抢出口"潮。 从光伏组件四大厂商2025年半年报来看，报告期内，晶科能源境外业务占比超六成；晶澳科技、天合光能两家公司境外业务占比均接近50%；隆基绿能占比 最低，不足四成。 中国光伏行业协会表示，自2024年以来，我国光伏产品在海外市场面临日益激烈的恶性竞争，出口价格持续走低，呈现"量增价减"态势。部分企业在出口过 程中，不仅低价竞争还将出口退税额折算为对外议价空间，导致原本用于对冲国内增值税负担的财政资金在议价环节被让渡给境外采购方。这使得出口退税 政策在实质上转化为对海外终端市场的补贴，不仅造成国内企业的利润流失，也显著增加了我国光伏产业遭受反补贴、反倾销等国际贸易摩擦的风险。 需要指出的是，早在2024年11 ...