Core Viewpoint - The storage industry is experiencing a strong cycle driven by AI, with companies like Jiangbolong showing significant profit growth and strategic fundraising to enhance technology capabilities [1][3]. Group 1: Company Performance - Jiangbolong's 2025 annual profit is expected to increase by 150.66% to 2.1082 billion yuan, marking a significant turnaround [1]. - The company anticipates a net profit of 1.25 billion to 1.55 billion yuan for the year, with a fourth-quarter net profit of approximately 650 million to 870 million yuan [5]. Group 2: Market Dynamics - The current cycle is driven by AI-induced demand for DRAM, differing from past cycles characterized by inventory fluctuations, suggesting a longer duration for this upturn [3]. - The global semiconductor storage market is projected to grow from $165.5 billion in 2024 to $184.8 billion in 2025, reflecting an 11.7% year-on-year increase [3]. Group 3: Price Trends - TrendForce predicts a 55% to 60% quarter-on-quarter increase in general DRAM contract prices in Q1 2026, with NAND flash prices expected to rise by 33% to 38% [4]. - Major manufacturers like Micron, Samsung, and SK Hynix have raised storage product contract prices by up to 30% in late 2025, indicating a clear upward trend in pricing [4]. Group 4: Industry Supply and Demand - AI technology is driving increased demand for SSDs among cloud service providers, while HDD supply shortages are pushing these providers to switch to SSDs, leading to a surge in NAND Flash demand [6]. - The supply chain is expected to remain constrained, with limited contributions to output growth from increased capital expenditures by manufacturers due to the lag in capacity construction [6]. Group 5: Domestic Industry Development - China's storage market accounts for over 20% of global demand, but domestic production remains insufficient, particularly in high-end storage products related to AI [7]. - Jiangbolong's fundraising of 3.7 billion yuan is aimed at enhancing capabilities in NAND Flash controller chip design and storage chip packaging and testing, addressing key technological gaps in the domestic industry [7][8].

润泽科技表示，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3月2日开市前披露相关 信息。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3月2日开市起复牌 并终止筹划相关事项。 公告显示，本次交易的标的资产为广东润惠科技发展有限公司除上市公司（含子公司）所持股权以外的 剩余全部或部分少数股权。 北京商报讯（记者 王蔓蕾）2月5日晚间，润泽科技（300442）披露公告称，公司正在筹划发行可转换 公司债券购买资产并募集配套资金事项，公司证券自2月6日起开始停牌。 ...

近年来动作频频的交通银行信用卡再迎重磅消息。北京商报记者近日获悉，交通银行浙江省分行副行长 贺波拟接任总行太平洋信用卡中心（以下简称"信用卡中心"）总经理一职。这已是该中心短期内的第二 次核心高管变动，而与人事更迭相伴的，是交通银行信用卡业务的转型攻坚。 据北京商报记者不完全统计，2025年至今，该行已有50余家信用卡分中心关停，业务规模同步出现阶段 性收缩。在行业存量竞争持续加剧的当下，新任"掌门"贺波将如何凭借自身复合型履历破局，推动信用 卡业务从"规模驱动"向"质量提升"转型，答案仍待时间检验。 短时间内两度"换帅" 近日，北京商报记者获悉，交通银行信用卡中心迎来重要人事调整，交通银行浙江省分行副行长贺波将 正式"接棒"信用卡中心总经理一职，目前其任职资格尚待监管部门核准。 公开履历显示，贺波兼具丰富的总行零售金融管理与分支行实操经验。2022年10月正式获批浙江省分行 副行长前，他曾长期在交通银行总行履职，深耕个人金融业务领域，历任高级经理、副总经理等职，积 累了扎实的总行层面业务管理经验；2019—2022年，贺波还曾担任交银理财非执行董事。 此次人事调整的背后，是交通银行信用卡中心短期内的第二次核 ...

Core Insights - The health wine market is experiencing a surge in popularity, particularly among young consumers embracing the "punk health" trend, with products like Jinjiu becoming market leaders [1][5][9] - Traditional brands such as Yedao and Haiwang are also seeing a revival, while established pharmaceutical companies like Tongrentang and Guangyuyuan are entering the health wine sector [1][8] - The market is projected to continue expanding, with health wine sales increasing by 75.8% year-on-year in the first eight months of 2025, and a forecasted market size of 200 billion yuan by 2030 [9][10] Market Trends - Jinjiu has become a prominent product in health wine shelves, with a 600ml bottle priced at 59 yuan and a 125ml bottle at 15 yuan, indicating strong demand, especially among female consumers [5][6] - The health wine sector is expected to grow at an annual rate of 23%, driven by a shift in consumer preferences towards lower-alcohol and lighter products [9][10] - The health wine market is characterized by a lower price point compared to traditional liquors, making it more accessible to consumers [8][9] Company Performance - Jinjiu's parent company, Jinpai, anticipates a 10.8% growth in overall performance by 2025, reflecting a stable development trend [5][6] - Hainan Yedao reported a revenue of 178 million yuan in the first three quarters of 2025, marking an 8.75% year-on-year increase, with a significant 111.74% growth in the third quarter [6] - Companies like Gujinggongjiu and Luzhou Laojiao are also entering the health wine market, launching various health-oriented projects and products [7][8] Consumer Behavior - Approximately 35% of consumers aged 18-35 prefer health wine over traditional liquor in social settings, indicating a shift in consumption habits [9][10] - The rise of health wine discussions on social media platforms, with over 800 million views on related topics, highlights the growing interest among younger demographics [9][10] Industry Challenges - The health wine market faces significant challenges related to product homogenization, with many brands offering similar concepts and formulations [11][22] - Companies are urged to differentiate their products through quality and technological innovation to avoid being overshadowed by competitors [22] - The market is expected to transition from a "blue ocean" phase to a "refinement" phase by 2026, emphasizing the need for companies to focus on health, youthfulness, and consumer-centric strategies [22]

2月5日，国家网信办、国家发展改革委、教育部、工业和信息化部等11部门联合印发《关于提升境外人员入境数字化服务便利性的实施意见》（以下简称 《实施意见》），提出到2027年，入境数字化服务国际化、便利化程度显著提升；到2030年，入境数字化服务达到国际领先水平。在具体举措上，《实施意 见》提出了提升数字支付便利性、拓展文化和旅游线上服务渠道等5方面14条举措。随着免签政策效应持续释放，入境人员规模扩大，境外人员入境数字化 服务便利性持续提升。然而，境外人员入境使用数字化服务仍面临多语种服务缺失、国际使用习惯不兼容等问题。《实施意见》的印发，有助于激发入境消 费新潜力，推动更高水平、更宽领域、更深层次的对外开放。 《实施意见》明确了总体要求，提出5方面14条举措。5方面分别包括夯实数字化基础服务、完善数字化支付服务、优化数字化旅游服务、丰富数字化公共服 务和加强网络和数据安全保障。 在完善数字化支付服务方面，《实施意见》提出，提升数字支付便利性。完善多元化支付服务体系，支持更多境外电子钱包在境内使用。持续推进开放信用 监管数据试点工作。支持数字化服务平台扩大免押金等优惠政策适用范围。 《实施意见》还提到，完善消 ...

近年来动作频频的交通银行信用卡再迎重磅消息。北京商报记者近日获悉，交通银行浙江省分行副行长贺 波拟接任总行太平洋信用卡中心（以下简称"信用卡中心"）总经理一职。这已是该中心短期内的第二次核 心高管变动，而与人事更迭相伴的，是交通银行信用卡业务的转型攻坚。 据北京商报记者不完全统计，2025年至今，该行已有50余家信用卡分中心关停，业务规模同步出现阶段性 收缩。在行业存量竞争持续加剧的当下，新任"掌门"贺波将如何凭借自身复合型履历破局，推动信用卡业 务从"规模驱动"向"质量提升"转型，答案仍待时间检验。 短时间内两度"换帅" 近日，北京商报记者获悉，交通银行信用卡中心迎来重要人事调整，交通银行浙江省分行副行长贺波将正 式"接棒"信用卡中心总经理一职，目前其任职资格尚待监管部门核准。 公开履历显示，贺波兼具丰富的总行零售金融管理与分支行实操经验。2022年10月正式获批浙江省分行副 行长前，他曾长期在交通银行总行履职，深耕个人金融业务领域，历任高级经理、副总经理等职，积累了 扎实的总行层面业务管理经验；2019—2022年，贺波还曾担任交银理财非执行董事。 此次人事调整的背后，是交通银行信用卡中心短期内的第二次核 ...

Core Viewpoint - The cryptocurrency market is experiencing a significant downturn, with Bitcoin and Ethereum prices plummeting, leading to a "crypto winter" that has resulted in substantial losses for investors and a sharp decline in market capitalization [1][5]. Price Movements - Bitcoin's price fell below $70,000, reaching a low of $69,922, marking a 44% drop from its peak of $126,000 four months ago [2][3]. - Ethereum's price decreased to $2,086, down nearly 56% from $4,711 four months prior [3]. - Other cryptocurrencies like XRP, SOL, and DOGE have also seen severe declines [4]. Market Capitalization - As of February 5, the total market capitalization of cryptocurrencies is $2.39 trillion, a decrease of approximately 43% from $4.19 trillion in early October [5]. Causes of the Downturn - The recent market crash is attributed to a typical process of risk asset deleveraging and revaluation, exacerbated by concentrated liquidations and liquidity discounts [5]. - A significant single-day crash on October 11, 2025, saw over $19 billion liquidated, affecting approximately 1.64 million investors [5]. - The downturn is also linked to macroeconomic changes and the impact of leverage in the market, which amplifies volatility [6]. Liquidation Events - In the latest downturn, over 205,430 investors were liquidated, with a total liquidation amount of $955 million, equivalent to 66 billion yuan [7]. - The phenomenon is described as a "long squeeze," where the breach of key support levels triggers automatic liquidations, leading to further price declines [7]. Risks Associated with Leverage - High-risk leveraged trading magnifies market volatility, leading to significant losses for investors when prices move unfavorably [8]. - Key risks include liquidity issues, counterparty risks, and potential system congestion during extreme market fluctuations [8]. Future Outlook - The cryptocurrency market remains sensitive to macroeconomic policies and liquidity expectations, with potential for further declines if concerns about tightening liquidity persist [9]. - Analysts suggest that if macroeconomic uncertainties ease and leverage is sufficiently cleared, the market may enter a phase of stabilization and recovery [9].

深圳证监局指出，上述行为违反了相关规定，决定对前海四海汇智创投采取出具警示函的行政监管措施。 | 蒙 引 号 | | bm56000001/2026-00001461 | | --- | --- | --- | | 发布机构 | | | | 名 | | 深圳证监局关于对深圳市前海四海汇智创业投资有限公司采取出具 | | 文 | 특 | 行政监管措施决定书〔2025〕266号 | 北京商报讯（记者 刘宇阳 实习生 姚榕琰）2月5日，深圳证监局发布公告表示，经查，深圳市前海四海汇智创业投资有限公司（以下简称"前海四海汇智创 投"）在从事私募基金业务活动中，存在部分私募基金投向不符合基金合同约定，说明公司在管理、运用私募基金财产过程中未履行谨慎勤勉义务；未及时 填报并定期更新管理人及其从业人员的有关信息；未妥善保存投资者适当性管理、私募基金投资决策相关文件资料的问题。 ...

2月5日，国务院新闻办公室举行新闻发布会，市场监管部门相关负责人介绍市场监管服务经济高质量发展情况，并答记者问。会上，国家市场监督管理总局 副局长、国家标准化管理委员会主任邓志勇表示，2025年，全国市场监管系统有力维护和促进形成强大国内市场，支撑经济增长和推动高质量发展取得明显 成效。下一步，市场监管总局将以放心消费集聚区建设为载体，出台放心消费标准、放心消费主体培育等政策文件，培育一大批带动面广、显示度高的放心 商圈、放心市场、放心景区，让消费者可感可及。 培育一批放心商圈、放心市场、放心景区 当前，我国正持续加力提振消费。2025年，市场监管总局牵头开展了优化消费环境三年行动，邓志勇介绍，目前已取得了阶段性成效。 在激发消费潜能方面，市场监管部门发布了家电、家具、服装等大宗消费品以及体育健身、文化旅游、餐饮等服务消费国家标准210余项，制定和推广养老 服务标准体系、旅游服务质量评价体系、汽车维修服务质量评价模型、家政服务信用体系，持续提升服务品质。相关部门建成充电基础设施1932.5万个，县 乡村商业物流配送网点达到3万个，"一刻钟便民生活圈"8132个，不断丰富消费场景。 在破解消费痛点方面，部署开展 ...

北京商报讯（记者 和岳）2月5日，北京商报记者从中国铁路北京局集团有限公司（以下简称：国铁北京局）获悉，为激活春节文旅消费市场，满足群众探 亲访友与短途出游需求，国铁北京局联合河北省发展和改革委员会、中旅资本协同打造的京津冀首列全景观光旅游列车"星光·燕赵号"，将于2026年春节期 间再度启程，奔赴历史文化名城承德，为新春文旅市场注入鲜活活力。 此外，依托承德本地春节特色旅游资源，"星光·燕赵号"精心打造"车票+"多样化产品组合，推出新春灯会、温泉康养等不同主题联票产品，实现"一程多 享"的文旅体验升级。 "星光·燕赵号"相关负责人表示，新春专线的开通是深化"铁路+旅游"融合发展的具体实践，通过将列车场景与目的地特色活动有机结合，让传统出行转变 为"沉浸年味、乐享旅途"的特色体验。未来，列车将持续结合节日特点与地域文化，推出更多主题化线路，不断拓展京津冀文旅资源整合深度与服务内涵， 全力为旅客提供更个性化、高品质的旅行选择。 据悉，本次新春专线具体开行日期、时刻为：2026年2月10日、11日、13日、14日、15日、19日、20日、21日、22日、23日、24日、25日、27日、28日，3月 1日、2日、3 ...