北方稀土2025年以来涨幅超过140%，公司是全球最大稀土企业集团和稀土产业基地，主要生产经营稀 土原料产品、稀土功能材料产品及部分稀土终端应用产品。 稀土价格上涨，与上游原材料现货供应紧张价格上调有很大关系。1月9日，国内两大稀土巨头北方稀土 与包钢股份双双公告，对2026年第一季度稀土精矿交易价格进行调涨，调整后的价格为不含税26834元/ 吨（干量，REO=50%）。这是自2024年三季度起，稀土精矿交易价格连续第6次上调。 近年来，上游稀土产业经历了集团整合，强化了国内稀土行业集中度，稀土开采和冶炼分离指标也在稳 步释放。根据工信部及中信证券的预测，2023年，我国稀土开采矿量为25.5万吨，冶炼分离产量24.4万 吨。预测2030年国内稀土开采量52.1万吨，冶炼分离产量51.9万吨。从全球来看，预计2030年全球稀土 供应量为68.1万吨。 从需求来看，中信建投表示，预计2026年全球新能源汽车产量将增长至超2600万辆，对应钕铁硼永磁材 料需求量将达到6.6万吨，汽车领域对钕铁硼总需求量接近8万吨。与此同时，包括汽车以及工业电机、 风力发电、工业机器人、人形机器人、节能电梯、变频空调、生活用品在 ...

奔腾的长江流经宜昌，在这里，磷化工龙头企业兴发集团（600141）正以自身的转型实践，为传统化工 行业的升级探索一条可参照的路径。 "兴发集团就像一棵树。"公司董事长李国璋接受证券时报记者专访时，用了一个生动的比喻来阐释公司 发展逻辑，"磷矿、硅矿、水电等资源是'根'，大宗化工产品是支撑规模的'干'，公司将资源转化而来的 利润与现金流，持续灌溉于新能源、新材料等新兴领域，使其'开枝散叶、开花结果'。" 这个"产业大树"比喻的背后，是兴发集团明确的战略目标：在"十五五"时期推动公司营收跨越千亿元大 关。为实现这一蓝图，兴发集团规划出明确的产业组合与增长路径：包括农药、有机硅、特种化学品等 优势板块各自向百亿级规模迈进，共同构成约500亿元的营收基本盘；目标营收超过300亿元的新能源材 料板块，将是公司未来发展的核心驱动力。 李国璋表示，完成这一系列的布局，意味着兴发集团将从依赖资源禀赋的周期型企业，转变成创新驱 动、多元协同的科技材料平台公司。 磷矿产能翻番奠定成长根基 对兴发集团而言，"根"就是其赖以起家并持续巩固的资源基本盘。 2023年下半年以来，磷矿石的供需关系始终维持紧平衡状态，价格高位平稳运行。目前 ...

黄鹤权 据人民日报近日报道，2025年中国电影出海交出亮眼答卷，《哪吒之魔童闹海》以6900万美元海外票房创下近年 新高，全年国产影片海外总票房超10亿元，15部热门影片实现全球上映。更值得关注的是，中国电影正告别单一 的内容输出，迈向"内容+技术+模式"三位一体的系统性出海新阶段。这不仅是中国电影产业实力的彰显，更是中 国文化自信从自发走向自觉的生动注脚，标志着中国正以电影为桥，参与全球文化格局的重塑。 中国电影出海的质变，始于叙事逻辑的深层革新。以往部分国产影片出海，往往陷入"东方奇观"的刻板表达，试 图以符号化的中国元素吸引海外观众，结果却难以跨越文化壁垒。如今的中国电影人，不再执着于"展示中国"， 而是转向"融入世界"。 最具深远意义的，是中国电影"模式出海"带来的全球产业价值。如果说内容出海是文化传播的表层突破，技术出 海是产业实力的中层支撑，那么模式出海则是中国电影对全球电影产业的深层贡献。中国特色的电影管理体系、 庞大的市场体系、创新的产业体系和完善的公共服务体系，正在为全球电影产业发展提供新的思路。横店影视城 的影视文旅融合模式，为文旅产业赋能电影发展提供了中国方案；中国完备的票房统计系统和便 ...

Core Viewpoint - The digital renminbi, issued by the People's Bank of China, is gradually demonstrating its systemic value in promoting fintech innovation, enhancing payment efficiency, and fostering inclusive economic growth as its pilot scope expands and application scenarios deepen [1] Group 1: Recent Developments - In early 2026, various provincial branches of the central bank held annual meetings to outline key tasks for the development of digital renminbi, building on the achievements of 2025 [1] - Shanghai has established a digital renminbi international operation center and aims to enhance financial management and service capabilities in 2026 [2] - Yunnan's focus for 2026 includes accelerating the construction of digital renminbi border trade scenarios and promoting cross-border QR code payments with neighboring countries [2] - Chongqing has successfully implemented bilateral digital renminbi settlement trials and aims to continue developing digital renminbi in 2026 [2] Group 2: Application Scenarios - The central bank's work in 2026 emphasizes the expansion of digital renminbi acceptance environments and user groups, aiming to create a widely accessible and sustainable application ecosystem [3] - The digital renminbi's pilot promotion has entered a new phase of scale and deep integration, with acceptance scenarios rapidly expanding across various sectors [4] - As of November 2025, digital renminbi has processed 3.48 billion transactions totaling 16.7 trillion yuan, with 230 million personal wallets opened [4] Group 3: Functional Iteration - A new version of the digital renminbi app was launched on January 1, 2026, introducing interest payments on wallet balances based on current deposit rates [6] - The app has also introduced a "carbon benefit" program that quantifies users' carbon reduction efforts into "carbon points," which can be converted into digital renminbi [6] - This initiative aims to promote green consumption and sustainable development, making it easier for the public to engage in environmentally friendly practices [7]

Core Viewpoint - The company, Teva Biopharma, is a leading enterprise in the field of PEGylated protein long-acting drugs in China, focusing on innovative research and development during the 14th Five-Year Plan period, achieving breakthroughs in liver disease treatment and children's growth [2][3]. Financial Performance - From 2021 to 2024, Teva Biopharma's revenue is projected to grow from 1.132 billion yuan to 2.817 billion yuan, with a compound annual growth rate (CAGR) exceeding 35% [2]. - Net profit is expected to increase from 181 million yuan to 828 million yuan, with a CAGR of 66%, positioning the company among the top performers in the biopharmaceutical industry [2]. Research and Development Focus - The company maintains high levels of R&D investment, exploring multi-platform technologies and collaborative approaches to address disease challenges, aiming to provide more treatment options for patients [2]. - In the liver disease treatment sector, the company is focused on clinical cures for hepatitis B, with its core product, Pegbinterferon (PEGylated interferon α-2b injection), set to receive approval for a new indication in October 2025 [2]. Product Innovations - The clinical data indicates that the combination therapy can achieve HBsAg seroconversion in 31.4% of patients, offering new hope for approximately 75 million chronic hepatitis B patients in China [2]. - In the children's growth sector, the innovative drug Yipeisheng (Yipei growth hormone injection) is expected to be approved in May 2025, featuring a unique Y-type 40kD PEGylation technology that allows for weekly administration, significantly reducing injection frequency [3]. Market Impact - The price of the 5 mg Yipeisheng injection will decrease from 1,798 yuan to 853.2 yuan, a reduction of about 53%, making treatment more affordable for families [3]. - The company has established an innovative platform centered on PEGylated long-acting drugs, with three class 1 innovative drugs launched, continuously enhancing its product matrix [3]. Future Outlook - Looking ahead to the next five years, the company aims to focus on unmet clinical needs for R&D innovation, providing high-quality products and services for human health [3]. - The company plans to strengthen collaboration with domestic and international partners to promote high-quality development in the biopharmaceutical industry [3].

作为新能源材料行业的头部企业，厦钨新能在"十四五"时期实现了全方位突破。构建起"电池回收—前 驱体—正极材料"完整产业链体系，产品涵盖钴酸锂、三元材料、磷酸铁锂、氢能材料、新型电池材料 等全系列新能源材料，服务于3C、车载动力、储能三大核心市场，与国内外知名电池企业建立稳固合 作关系。 业绩方面，厦钨新能五年来累计销售正极材料超42.24万吨（其中2025年数据统计口径为前三季度，非 全年数据），2025年前三季度实现营业收入130.59亿元，同比增长29.80%，实现归母净利润5.52亿元， 同比增长41.54%。 改革与资本运作成为发展重要引擎。公司通过混合所有制改革、员工持股计划等系列动作，成功登陆科 创板，成为福建省第一家A拆A成功上市企业，为发展注入充足资本动力。 市场布局上，厦钨新能构建了海沧、璟鹭、三明、宁德、雅安五大正极材料生产基地，拥有15家控股公 司和分公司、2家参股公司。 发展模式方面，公司从产能提升向产品质量与产能规模双提升转变，从传统工业生产向数字化、可追溯 的数字工厂转型，从单纯产品销售向综合解决方案提供商转变。 （文章来源：证券时报） 过去五年，厦钨新能实现跨越式发展，成为新能源 ...

Group 1 - The core viewpoint is that during the "14th Five-Year Plan" period, Xiamen's capital market has achieved significant development, characterized by scale expansion, innovation empowerment, and cross-strait integration, laying a solid foundation for the "15th Five-Year Plan" [1] Group 2 - By the end of 2025, the number of listed companies in Xiamen is expected to reach 70, accounting for nearly 40% of the province, with a total market value exceeding 903 billion yuan, representing a 43% increase from the end of 2020 [1] - The trading volume in securities and futures is projected to reach 15.05 trillion yuan and 16.17 trillion yuan respectively by 2025, indicating a significant increase in market activity [1] - The private equity fund scale has reached 214.4 billion yuan, and the scale of corporate bonds and asset securitization products has reached 220 billion yuan, showcasing a more complete multi-level capital service system [1] Group 3 - A total of 403.2 billion yuan has been raised during the "14th Five-Year Plan" period, primarily directed towards emerging industries such as software information and biomedicine [2] - The number of companies in the listing reserve has expanded to 597, and the first CVC mother fund in the country has been established, demonstrating significant progress in innovative bond issuance [2] - Research and development (R&D) spending by listed companies is expected to reach 11.25 billion yuan in 2024, with an average R&D intensity of 5.02% among 52 manufacturing and IT service companies [2] Group 4 - The construction of the first cross-strait capital market service base has shown remarkable results, with 7 Taiwan-funded listed companies in the region, accounting for 10.61% of the total number of Taiwan enterprises listed domestically [2] - The total amount of dividends during the "14th Five-Year Plan" period has increased 27 times, reflecting the strong performance of Taiwan-funded enterprises [2] - The Xiamen cross-strait equity trading center has showcased 1,124 enterprises on its "Taiwan-funded board," and the scale of Taiwan-funded private equity funds has reached 6.778 billion yuan [2] Group 5 - A comprehensive risk prevention system has been established, with 499 on-site inspections conducted and 28 administrative penalties issued during the "14th Five-Year Plan" period, amounting to 293 million yuan in fines [3] - Investor protection has been notably effective, with 1,308 investors receiving compensation of 224 million yuan through representative lawsuits [3] - Risks in key areas have been effectively mitigated, with issues such as fund occupation and illegal guarantees by listed companies being resolved, ensuring overall stability in the capital market [3]

1月19日，工业和信息化部、国家发展改革委、生态环境部、国务院国资委、国家能源局五部门发布消 息，已于近期联合印发《关于开展零碳工厂建设工作的指导意见》（以下简称《指导意见》），明确零 碳工厂建设的总体要求、阶段目标与实施路径，旨在深挖工业和信息化领域节能降碳潜力，带动重点行 业领域减碳增效和绿色低碳转型，培育发展新质生产力。 阶段目标方面，《指导意见》提出梯度培育策略。2026年起，遴选一批零碳工厂，做好标杆引领。到 2027年，在汽车、锂电池、光伏、电子电器、轻工、机械、算力设施等行业领域，培育建设一批零碳工 厂。到2030年，逐步拓展至钢铁、有色金属、石化化工、建材、纺织等行业领域，探索传统高载能产业 脱碳新路径。 "十五五"规划建议提出，要积极稳妥推进和实现碳达峰，发展分布式能源，建设零碳工厂和园区。去年 年底，国家发展改革委等三部门发布了首批国家级零碳园区建设名单。 业内人士表示，《指导意见》的发布，将与零碳园区建设形成配合，共同推动工业生产技术与方式重 构，进而推进工业和信息化领域节能降碳。 工业和信息化部节能与综合利用司相关负责人表示，零碳工厂不是绝对的"零"二氧化碳排放，而是在当 前技术经济条 ...

Core Viewpoint - Hualing Cable has decided to terminate the acquisition of Hunan Xingxin Aerospace New Materials Co., Ltd. after nearly a year of planning due to a lack of agreement on specific terms of the acquisition [1][2]. Group 1: Acquisition Details - The acquisition was initially announced in March 2022, with Hualing Cable planning to acquire control of Xingxin Aerospace [2]. - The parties involved signed a Letter of Intent for the acquisition, but no formal transaction agreement was executed by the announcement date [1]. - The termination of the acquisition was mutually agreed upon by both parties, and no compensation or legal liabilities will arise from this decision [2]. Group 2: Company Impact - The termination of the acquisition is not expected to adversely affect the company's production operations or financial status, nor will it harm the interests of shareholders, particularly minority shareholders [2]. - Hualing Cable will continue to pursue its strategic goals through both internal development and external acquisitions to enhance its competitive capabilities [2]. Group 3: Xingxin Aerospace Overview - Xingxin Aerospace, established in 2003, is a national high-tech enterprise that specializes in high-temperature resistant materials and has participated in significant aerospace projects [2][3]. - The company reported revenues of 56.42 million yuan, 51.37 million yuan, and 68.15 million yuan for the years 2022, 2023, and 2024, respectively, with net profits of 23.63 million yuan, 22.46 million yuan, and 26.49 million yuan during the same period [3]. Group 4: Other Acquisition Plans - In addition to the termination of the Xingxin Aerospace acquisition, Hualing Cable is also pursuing the acquisition of San Bamboo Technology [4].

记者从不同渠道获悉，除发售方式创新外，此次扩募在定价机制上也充分体现了市场化约束，在结合了 资产评估价值、二级市场价格及与投资者的沟通情况基础上审慎确定。同时，为保障定价与交易的公允 性，本次扩募引入了"除权"机制，对扩募份额上市前后的基金参考净值及交易价格进行合理调整，防止 无风险套利，维护了所有参与方的公平。 记者了解到，华夏基金华润有巢REIT扩募配售对象中个人投资者户数超过万户。 事实上，此次创新实践的另一大意义在于，极大地拓宽了个人投资者参与REITs扩募的通道，凡是权益 登记日登记在册的基金份额持有人均有权根据持仓情况参与配售，充分保障了机构投资者与个人投资者 参与扩募认购的平等权利。 本次扩募设置了多元化认购通道，无论是场内还是场外的个人投资者，均能通过便捷的渠道行使认购 权。其中，场内投资者可通过在证券经营机构开具的场内证券账户直接认购，也可以通过基金管理人认 购；场外投资者则可通过基金管理人及其委托的场外基金销售机构参与认购，确保个人投资者平等的参 与机会。 近日，我国公募REITs市场常态化扩募迎来重要创新实践，华夏基金华润有巢REIT扩募份额正式在上海 证券交易所上市交易。本次扩募最大亮 ...