Core Viewpoint - The Shanghai Municipal Government has released a three-year action plan (2026-2028) to support the transformation and upgrading of advanced manufacturing, focusing on structural optimization, innovation, and resource support. Group 1: Action Plan Overview - The action plan aims to add 100 manufacturing enterprises with an annual output value exceeding 1 billion yuan by 2028, totaling over 600 such enterprises, and to drive the addition of 500 large-scale industrial enterprises in the supply chain [2] - The plan emphasizes the development of new-generation electronic information, smart connected vehicles, high-end equipment, advanced materials, and green low-carbon industries [2][3] Group 2: Key Industry Focus - The action plan encourages investment in emerging fields such as low-altitude economy, commercial aerospace, embodied intelligence, biomanufacturing, and smart terminals, aiming to overcome bottlenecks in the industrial scale development of innovative products like eVTOLs, commercial rockets, and humanoid robots [1][2] - It supports integrated circuit companies to achieve breakthroughs across the entire industry chain, focusing on equipment, advanced processes, and materials [2] Group 3: Innovation and Research Support - The plan proposes financial incentives for companies increasing their basic research investments, with subsidies ranging from 200,000 to 1 million yuan based on the level of investment [4][5] - It encourages the establishment of research centers and collaboration with universities and research institutions to enhance technological innovation [5] Group 4: Digital and Intelligent Manufacturing - The action plan includes initiatives to promote AI in manufacturing, aiming for large enterprises to achieve full coverage of digital applications by 2027 and to increase robot density to 600 units per million people by 2028 [5][6] - It outlines a new round of smart factory initiatives, targeting a 70% digitalization level for smart manufacturing equipment by 2028 [5] Group 5: Green Transformation and Financial Support - The plan emphasizes green transformation, encouraging the development of low-carbon products and providing financial rewards for energy-saving upgrades [6] - It aims to create over 100 national-level green factories by 2028, with initial recognition receiving a one-time reward of 200,000 yuan [6] - Financial institutions are encouraged to offer lower-interest loans and customized insurance services for key technological equipment and new materials [6]

Core Viewpoint - The control change of ST Keli Da (603828) has been revealed after a five-day trading suspension, with strategic shareholder Shanghai Yingzhong Intelligent Technology Co., Ltd. becoming the indirect controlling shareholder of the company. The stock price is expected to double by 2025 [1]. Group 1: Control Change Details - On January 9, ST Keli Da announced that shareholders of its controlling shareholder, Keli Da Group, plan to transfer 100% of Keli Da Group's shares to Yingzhong Intelligent. If the transfer is completed, Keli Da Group will remain the controlling shareholder, while Yingzhong Intelligent will become the indirect controlling shareholder [3]. - The indirect controlling shareholder Yingzhong Intelligent previously invested in ST Keli Da as a strategic investor, and one of the new controllers, Liu Chunjian, has already joined the board of directors of the listed company [4]. - Following the completion of the share transfer, Yingzhong Intelligent will hold 5.03% directly and, through Keli Da Group, will indirectly hold 1.12 billion shares (18.74% of total shares), totaling 1.42 billion shares (23.77% of total shares) [4]. Group 2: Financial Aspects - The total transaction price for the 100% equity transfer of Keli Da Group is set at 325 million yuan, funded by Yingzhong Intelligent's self-raised capital, including support from its controlling shareholder, Shanghai Yingzhong Information Technology Group Co., Ltd. [5]. - Yingzhong Intelligent was established in August 2022, primarily engaged in the retail of computer software and hardware. As of the end of Q3 2025, the company reported total assets of 57.36 million yuan and a net asset of 872,100 yuan, with a high debt ratio of 98.48% [5]. - For the first three quarters of 2025, Yingzhong Intelligent reported revenue of 1.34 million yuan and a net loss of 366,100 yuan [5]. Group 3: Company Performance and Risks - ST Keli Da's main business involves the design and construction of building curtain walls and decorative engineering, which has been under pressure due to the downturn in the real estate market. The company has reported a continuous net loss for four consecutive years from 2021 to 2024 [6]. - As of the first three quarters of 2025, the company's net profit after deducting non-recurring items was -143 million yuan, indicating ongoing losses [6]. - The current controlling shareholders have committed to returning any funds occupied by Keli Da Group within ten working days if such issues arise, and the proceeds from the share transfer will be prioritized for repaying the occupied funds [6].

Core Viewpoint - The U.S. Department of Commerce has withdrawn its plan to list Chinese-manufactured drones on a "regulated list" due to national security concerns, which was initially proposed to restrict imports of Chinese drones [1][2]. Group 1: U.S. Government Actions - The U.S. Department of Commerce announced the withdrawal of a proposal aimed at restricting Chinese drones, which was submitted for White House review in October 2022 and retracted on January 8, 2023 [1]. - The Federal Communications Commission (FCC) had previously placed all foreign-manufactured drones and components on a "regulated list" citing unacceptable national security risks [1][2]. Group 2: Chinese Response - The Chinese government has strongly opposed the U.S. actions, arguing that they distort the market and unfairly target Chinese companies under the guise of national security [2]. - Chinese officials have called for the U.S. to correct its actions and provide a fair and non-discriminatory environment for Chinese enterprises [2]. Group 3: Market Impact - Chinese drones, particularly from DJI, dominate the U.S. commercial drone market, with over half of the drones in use coming from this manufacturer [3]. - The proposed restrictions have led to significant backlash among U.S. drone operators, many of whom rely on DJI products for their businesses in various sectors such as agriculture and construction [3]. - Some drone operators have begun stockpiling DJI drones and components, expressing concerns that the ban could jeopardize their livelihoods, as there are no viable alternatives to Chinese-made drones in the Western market [3].

1月9日深夜，天普股份（605255）发布了股票交易停牌核查结果，公司股票于2026年1月12日（星期一）开市起复牌。 同日，公司还发布公告称，公司当日收到中国证监会下发的《立案告知书》，因公司股票交易异常波动公告涉嫌重大遗漏等，根据相关法律法规，中国证 监会决定对公司进行立案。 天普股份公告显示，自2025年8月22日至2025年12月30日，公司股票累计上涨718.39%，其间多次触及股票交易异常波动，公司已多次停牌核查。 鉴于近期公司股票价格短期波动较大，且公司股价累计涨幅较大，已累积巨大交易风险，已严重偏离上市公司基本面，为进一步维护投资者利益，公司就 近期股票交易情况进行停牌核查。鉴于相关核查工作已完成，经公司向上海证券交易所申请，公司股票将于2026年1月12日（星期一）开市起复牌。 | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 605255 | 天普股份 A 股 复牌 | | | | 2026/1/9 | 2026/1/12 | 从核查情况来看 ...

Group 1 - The chairman and general manager of China Recycled Resources Development Group Co., Ltd., Xing Hongwei, is under investigation for serious violations of discipline and law [1][4] - The company was established in 1989 and plays a crucial role in the development of the recycling industry and ensuring national resource security [3] - The company has over 200 invested enterprises, an annual sales revenue of 60 billion yuan, and a recycling business volume exceeding 30 million tons per year [3] Group 2 - The company operates across 11 main business lines, including home appliance dismantling, vehicle reuse, battery recycling, and digital supply chain operations [3] - On December 19, 2025, Xing Hongwei submitted a resignation report to the board of directors, citing personal reasons for stepping down from all positions within the company [3]

Core Insights - The State-owned Assets Supervision and Administration Commission (SASAC) announced that the main tasks of the deepening reform action have been largely completed, but further reforms are still necessary to meet targets [1] - By November 2025, central enterprises' revenue in strategic emerging industries is expected to exceed 11 trillion yuan, indicating significant growth in this sector [6][7] Group 1: Reform Progress - The SASAC has facilitated the integration and restructuring of state-owned enterprises (SOEs) to enhance efficiency and focus on core competencies, with 116 strategic reorganizations involving 229 primary enterprises reported [3][2] - Local governments have initiated various restructuring efforts, such as the establishment of Hebei Water Development Group to improve water resource management and the integration of grain enterprises in Hebei [3] Group 2: Industry Transformation - Traditional industries are accelerating their transformation, with companies like Ansteel and China National Building Material increasing their share of high-end products and new materials [5] - The focus on digitalization, intelligence, and green transformation is being emphasized, with Guizhou increasing the weight of these factors in annual scientific and technological assessments [5] Group 3: Innovation and Investment - Central enterprises' R&D expenditure has seen an annual growth of 6.5%, with total spending exceeding 1 trillion yuan for three consecutive years from 2022 to 2024, and a 19% annual growth in basic research investment [7] - The government is promoting the integration of technological and industrial innovation, with a focus on key areas such as energy security and national defense [7] Group 4: Management and Performance - Performance evaluation is now closely linked to compensation and promotion within SOEs, with over 20,000 managerial personnel experiencing salary adjustments of more than 20% based on performance [9] - The implementation of flexible income distribution mechanisms and long-term incentive tools is becoming widespread, with various enterprises adopting innovative compensation strategies to motivate R&D teams [9]

Market Performance - The Dow Jones Industrial Average and S&P 500 Index reached new all-time closing highs, with the Dow up 0.48% to 49,504.07 points and the S&P 500 up 0.65% to 6,966.28 points [1][2] - For the week, the Dow increased by 2.32%, the S&P 500 by 1.57%, and the Nasdaq by 1.88% [1] European Market - Major European indices also closed higher, with Germany's DAX up 0.53% to 25,261.64 points, France's CAC40 up 1.44% to 8,362.09 points, and the UK's FTSE 100 up 0.8% to 10,124.6 points [2][3] - Weekly gains for European indices included DAX up 2.94%, CAC40 up 2.04%, and FTSE 100 up 1.74% [2] Chinese Stocks - The Nasdaq Golden Dragon China Index fell by 1.3%, with notable declines in stocks such as Atour down over 5% and Huya down over 4% [3] - Conversely, stocks like BrainCo surged over 10%, and BeiGene rose over 5% [3] Technology and Semiconductor Sector - Major tech stocks generally rose, with Tesla up over 2% and Facebook up over 1% [4] - The Philadelphia Semiconductor Index increased by 2.73%, with Intel rising over 10% and Lam Research up over 8% [4] - Storage concept stocks saw significant gains, with SanDisk up over 12% and Micron Technology up over 5% [4] - A report from Nomura Securities indicated that enterprise-level SSD NAND prices could increase by over 100% quarter-on-quarter due to strong demand driven by AI [4] Oil and Precious Metals - International oil prices rose, with WTI crude up 2.35% to $59.12 per barrel and Brent crude up 2.18% to $63.34 per barrel [5] - Precious metals also saw gains, with COMEX gold futures up 1.29% to $4,518.40 per ounce and silver up 6.18% to $79.79 per ounce [5] Employment Data and Federal Reserve Outlook - U.S. non-farm payrolls showed a stable labor market, with a total increase of 58,400 jobs in 2025, but a monthly average of 4,900 jobs was significantly lower than the previous year's average [5][6] - Major institutions like Goldman Sachs expect the Federal Reserve to maintain its current policy stance in January 2026, with potential rate cuts delayed until mid-year [6]

Group 1 - The core point of the news is that Jiaoyun Co., Ltd. is planning a significant asset swap involving its passenger car sales and automotive after-service segments with assets related to the cultural and entertainment industry held by its controlling shareholder, Jiushi Group, and its affiliates [1] - The transaction is expected to constitute a major asset restructuring, with the price difference between the assets to be settled in cash [1] - The transaction price has not yet been determined [1] Group 2 - On January 9, Jiaoyun Co., Ltd. closed at the daily limit, with a total market value of 6.983 billion yuan [2] - Next week, a total of 23 stocks will have their shares unlocked, amounting to 2.434 billion shares, with a total unlock market value of 48.556 billion yuan based on the latest closing prices [5] - Among the stocks with significant unlock pressure, Zhongke Lanyun is expected to have the highest unlock market value at 11.087 billion yuan, followed by Tianxin Pharmaceutical at 7.841 billion yuan [6][7]

Group 1 - U.S. stock markets experienced a rally, with all three major indices closing higher; the Dow Jones and S&P 500 reached all-time closing highs [3] - Intel shares surged by 10.8% following a positive meeting between CEO Pat Gelsinger and former President Trump, who praised the investment as "very successful" [5] - Tesla rose over 2%, while Meta increased by more than 1%; Apple, Microsoft, Google, and Amazon saw slight gains, while Netflix and Nvidia experienced minor declines [5] Group 2 - International gold and silver prices saw significant increases, with COMEX gold futures rising by 1.29% to $4,518 per ounce, marking a weekly gain of 4.34%; COMEX silver futures jumped 5.92%, with a weekly increase of 12.07% [7] - International crude oil futures also rose, with WTI crude oil futures up 2.35% and Brent crude oil futures up 2.18% [9] - The U.S. non-farm payroll report indicated a slower but stable labor market, with employment increasing by 50,000, which may influence the Federal Reserve's decision on interest rate cuts later this year [9] Group 3 - Citigroup forecasts the Federal Reserve will cut rates by 25 basis points in March, July, and September, a shift from previous expectations of cuts in January, March, and September [10] - Morgan Stanley anticipates rate cuts of 25 basis points in June and September, revising earlier predictions of cuts in January and April [11] - The U.S. Supreme Court's potential ruling on the legality of tariffs imposed by the Trump administration is under scrutiny, which could impact trade policy and national fiscal conditions [11]

Core Viewpoint - The U.S. Supreme Court will not make a ruling on the Trump administration's tariff case on January 9, focusing on the legality of tariffs imposed under the International Emergency Economic Powers Act (IEEPA) and potential refunds to importers if deemed illegal [1] Group 1: Legal and Policy Implications - The Supreme Court's review centers on whether the Trump administration had the authority to impose tariffs under IEEPA and if the government must refund tariffs paid by importers if the tariffs are found illegal [1] - U.S. Treasury Secretary Scott Bansen emphasized the importance of maintaining tariff revenue levels, noting that an unfavorable ruling would limit the President's flexibility in using tariffs as negotiation tools, which could be detrimental to the American public [1] Group 2: Economic Impact - The actual effects of the tariff policy have diverged from initial analyst predictions, with limited impact on U.S. inflation but a significant reduction in trade deficits, which fell to the lowest level since the 2009 financial crisis by October 2025 [2] - The upcoming tariff ruling is expected to gradually reveal its effects on U.S. trade dynamics, fiscal health, and global economic interactions, warranting ongoing monitoring of policy adjustments and market responses [2]