从用地性质来看，住宅用地是收储主力。公示的地块中住宅用地宗数占比约66%，商办用地占比约 24%，工业用地占比约6%。 随着配套政策不断完善，2025年专项债收储土地取得新进展。 从所有权来看，当前拟收储的土地中，绝大多数宗地属于地方国企，占比约85%，民企占比仅约13%； 收储面积中，地方国企占比80%，民企占比约16%；收储金额中，地方国企占比近88%，民企占比仅约 10%，央企中保利、华润、华侨城等均在列。在拟收储宗地数量超100宗的省市中，湖南、江西、新 疆、四川等省市地方国企宗数占比超90%，而云南地方国企宗数占比为64%，民企、央企宗地占比相对 较高。 从收储价格来看，与出让时的成交单价相比，约47%的地块拟收储价格与成交单价的比值在0.8—1.0之 间，约29%的地块比值在0.9—1.0之间，约18%的地块拟收储价格与成交价的比值在0.7—0.8之间，部分 地块拟收储价格的折扣较大。从各地情况来看，宁夏、福建、广东等10个省市价格比值高于全国平均水 平(0.82)，广西、重庆等省市价格比值低于0.7，价格折扣相对较大。 据中指研究院监测，2025年全国各地公示拟使用专项债收回收购存量闲置土地的数 ...

Core Insights - Qianwen App has integrated with Alibaba's ecosystem, enabling AI shopping functionalities such as ordering takeout, purchasing items, and booking flights, marking a significant advancement in AI capabilities [1][2] - The app aims to transition from simple conversational AI to a more functional assistant that can perform complex real-life tasks, leveraging Alibaba's extensive data and services [1][2] Group 1: AI Shopping Capabilities - Qianwen App can assist users in making purchasing decisions by providing tailored product recommendations based on Alibaba's vast product database and review system [2] - Users can complete the entire shopping process, from decision-making to transaction, with a single command in the app [2] Group 2: Life Services Integration - The app has incorporated 50 public service functions through Alipay, allowing users to access services like visa applications and household registration without navigating multiple websites [2] - Qianwen App demonstrates strong cross-application collaboration, enabling users to book flights and hotels through Fliggy and plan itineraries with Amap, as well as make restaurant reservations via phone [2]

据央视新闻消息，当地时间1月14日，一位知情人士称，美国正在将"亚伯拉罕·林肯"号航母打击群调往 美国中央司令部责任区，这大约需要一周的时间完成。 美国中央司令部责任区包括中东和中亚地区等。 美国海军学会网站的统计数据显示，当前美国海军只有3艘航母处于部署状态："福特"号航母打击群持 续驻守在美国南方司令部辖区内，执行针对委内瑞拉的海上封锁行动；"林肯"号航母打击群部署在南 海；"华盛顿"号航母在日本横须贺基地休整。 此外，据24小时飞行雷达网站发布的消息，伊朗发布航行通告说，于北京时间15日6时15分暂时关闭其 领空，仅允许获得正式许可进出伊朗的国际航班通行。预计禁飞时间将超过两个小时。 另据航班追踪网站消息，伊朗于当地时间15日凌晨宣布对德黑兰飞行情报区实施临时空域管控，仅允许 经批准的国际民航航班通行。 ...

1月15日，阿里正式官宣，千问APP全面接入淘宝、支付宝、淘宝闪购、飞猪、高德等阿里生态业务，实现点外卖、购物、订机票等AI购物功能，并向所 有用户开放测试。与此同时，千问APP任务助理开启邀测。 在今日举行的新闻发布会上，阿里巴巴集团副总裁吴嘉透露，上线两个月，千问C端月度活跃用户突破1亿。早前，券商中国记者获悉，阿里已成立千问C 端事业群，由吴嘉负责并担任该事业群总裁。 全面接入阿里生态业务 1月15日，千问APP宣布全面接入淘宝、支付宝、淘宝闪购、飞猪、高德等阿里生态业务，在全球首次实现点外卖、买东西、订机票等AI购物功能，并向 所有用户开放测试。 券商中国记者实测发现，在下载最新版千问APP后，用户通过应用左下角选择"我的"-"应用授权管理"，便可打开淘宝、淘宝闪购、飞猪、支付宝、支付宝 AI付等授权，调用相应权限。 吴嘉表示，对于消费场景，互联网上的营销信息繁杂、噪音巨大，而如何训练模型的理解分辨能力很关键。千问APP在依靠世界知识的基础上，还可以利 用阿里巴巴的交易和服务数据来增强模型，从而保障AI购物功能保持客观和准确。 据了解，此次升级将上线超过400项AI办事功能。"AI在拥有超强大脑之后， ...

1月15日开盘，A股三大指数集体低开后快速翻红，截至发稿，上证指数、创业板指再次转跌。摩托车、精细化工、化肥农药、餐饮旅游等板块涨幅居 前。 | 代码 | 名称 | 最新 | 涨幅 | | --- | --- | --- | --- | | 399001 | 深证成指 | 14267.04 | +0.13% | | 000001 | 上证指数 | 4118.57 | -0.18% | | 399006 | 创业板指 | 3335.46 | -0.41% | | 行业板块 | | 更新于:01-15 09:49 | | --- | --- | --- | | 涨幅榜 | 资金净流入 | 5日涨幅榜 | | 摩托车 | 精细化工 | 化肥农药 | | +2.22% | +2.03% | +1.93% | | | 保障 | | | 餐饮旅游 | | 基本金属 | | +1.80% | +1.62% | +1.43% | 油价重挫。截至发稿，WTI原油报60.25美元/桶，跌幅为2.63%。当地时间1月14日，美国总统特朗普称支持委内瑞拉留在石油输出国组织。特朗普表示， 他认为委内瑞拉留在石油输出国组织（欧佩克）对委 ...

Group 1 - The total scale of cross-border ETFs reached 1,009.8 billion RMB as of January 13, marking the first time it has surpassed the trillion RMB mark [4][5] - The scale of cross-border ETFs increased by 138% from 424.2 billion RMB at the beginning of 2025 to the current level [4][6] - The leading cross-border ETF is the Hong Kong Stock Connect Internet ETF, with a scale of 91.509 billion RMB, followed by the China Universal Hang Seng Technology Index ETF at approximately 53.434 billion RMB [5][6] Group 2 - In less than half a month since the beginning of 2026, the scale of cross-border ETFs has increased by over 60 billion RMB [6] - The majority of cross-border ETFs are focused on Hong Kong stocks, with only a few products targeting the NASDAQ and other markets [6][7] - As of the end of 2025, 95.2% of QDII funds had a net value increase, driven by strong performances in sectors like artificial intelligence and innovative pharmaceuticals [6][7] Group 3 - Premiums and purchase limits are common in the market, with some ETFs showing significant premium rates, such as the Invesco NASDAQ Technology ETF at 19.28% [7] - The limited QDII quota has led to frequent occurrences of premium pricing for products, indicating high investor demand [7] - Several actively managed QDII funds have tightened their subscription channels due to high demand [7] Group 4 - Fund managers remain optimistic about investment opportunities in Hong Kong stocks, viewing them as a bridge for foreign capital into Chinese assets [8][9] - The technology sector in Hong Kong is expected to benefit from advancements in artificial intelligence and related applications [8][9] - For the U.S. market, the impact of AI is expanding beyond technology sectors, with expectations of a 10% growth in earnings per share for the S&P 500 index in 2026 [10]

Core Viewpoint - Shanghai Sunmi Technology Group Co., Ltd. has re-submitted its IPO application to the Hong Kong Stock Exchange after the previous application expired, with Deutsche Bank, CITIC Securities, and Agricultural Bank of China International as joint sponsors [1] Company Overview - Sunmi Technology focuses on providing smart commercial devices and integrated "end-cloud" services, forming a product and service system consisting of smart commercial devices, commercial operating systems, and IoT cloud management platforms [1] - The company's Business IoT (BIoT) solutions include smart devices and a BIoT PaaS platform, with each smart device supported by its proprietary commercial operating system, SUNMIOS, enabling merchants to efficiently manage and optimize transactions and operations [1] Market Position - According to Zhaoshang Consulting, Sunmi Technology is currently the largest provider of Android-based BIoT solutions globally, holding over 10% market share based on projected 2024 revenue [1] - The company has served over 70% of the top 50 food and beverage companies worldwide and has achieved over 70% coverage of the top 100 restaurant brands and over 60% coverage of the top 100 chain stores in China [1] Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the first nine months of 2025 were approximately CNY 3.404 billion, CNY 3.071 billion, CNY 3.456 billion, and CNY 2.241 billion, respectively [2] - The corresponding profits for the same periods were approximately CNY 160 million, CNY 101 million, CNY 181 million, and CNY 56.079 million [2] Funding History - The founder, Lin Zhe, started with selling POS machines and received support from major tech companies like Xiaomi, Meituan, and Ant Group during the entrepreneurial journey [3] - In 2013, Lin Zhe extended the business into the internet sector, establishing a company that launched an O2O smart hardware system, receiving angel investment of CNY 5 million in 2014 [3] - Subsequent funding rounds included investments from various firms, with significant contributions from Ant Group and Meituan, totaling CNY 2.92 billion and CNY 6.8 billion in 2019 [4] Shareholding Structure - As of March 2024, Lin Zhe holds 27.38% of the shares and has 79.04% voting rights, while other significant shareholders include Ant Group (27.27% shareholding, 7.87% voting rights) and Meituan (8.20% shareholding, 2.37% voting rights) [5]

Core Viewpoint - The storage module leader, Baiwei Storage, anticipates significant growth in its financial performance for 2025, driven by a recovery in storage prices and the delivery of key projects [1] Group 1: Financial Performance - Baiwei Storage expects revenue for 2025 to be between 10 billion to 12 billion yuan, representing a year-on-year growth of 49.36% to 79.23% [1] - The company forecasts a net profit attributable to shareholders of 850 million to 1 billion yuan, reflecting a substantial year-on-year increase of 427.19% to 520.22% [1] - The recovery in sales revenue and gross margin is anticipated to begin in the second quarter of 2025 as storage prices stabilize [1] Group 2: Market Trends - The global storage market has entered a strong price increase cycle since 2025, with DRAM prices for DDR5 (16Gb) rising to $34.08, a 627.79% increase from the beginning of the previous year [2] - NAND Flash prices have also surged, with 64G flash products increasing over 60% since the start of 2025 [2] - IDC predicts global data volume will reach 213.6 ZB by 2025 and grow to 527.5 ZB by 2029, with a compound annual growth rate of 25.4% [2] Group 3: Supply and Demand Dynamics - A significant supply shortage in the commodity storage market is expected in 2026, driven by structural data growth rather than temporary supply chain disruptions [3] - DRAM contract prices are projected to increase by 55% to 60% in the first quarter of 2026 due to a shift towards advanced processes and new capacity for servers [3] - Citigroup has raised its forecast for the average price increase of DRAM in 2026 from 53% to 88% [3] Group 4: Capacity Expansion - Major storage manufacturers are announcing expansion plans to capitalize on the rising prices and increase market share [4] - Tongfu Microelectronics plans to raise up to 4.4 billion yuan, with 800 million yuan allocated for enhancing storage chip testing capacity [4] - Other companies like Tianshan Electronics and Changjiang Electronics have also revealed expansion plans [5] Group 5: Company Performance Outlook - A-share listed companies in the storage sector are expected to see improved profitability as storage prices rebound from low levels [6] - Twelve storage-related stocks are projected to achieve year-on-year net profit growth or turnaround in 2025, with companies like Jiangbolong and Allwinner Technology expecting over 100% profit growth [7] - Jiangbolong reported a significant increase in net profit for Q3 2025, achieving 698 million yuan, a nearly 20-fold year-on-year growth [7]

资金面上看，山河药辅近5日主力资金总体呈净流入状态，累计净流入1169.20万元，其中，上一交易日 主力资金全天净流入115.24万元。 山河药辅股价出现异动，截至今日9时32分，股价大涨6.91%，成交513.10万股，成交金额7688.33万 元，换手率为2.58%，公司发布的最新业绩预告显示，预计2025年实现净利润1.65亿元—1.94亿元，净 利润同比增长38.16%—62.45%。 ...

美联储发布褐皮书。 当地时间1月14日（周三），美股三大指数录得连续第二个交易日下滑。交易员正在消化最新一批银行企业财报。 截至收盘，道指跌42.36点，跌幅为0.09%，报49149.63点；纳指跌238.12点，跌幅为1.00%，报23471.75点；标普500指数跌37.14点，跌幅为0.53%，报 6926.60点。 美联储发布经济状况"褐皮书" 据央视新闻，当地时间1月14日，美联储发布全国经济形势调查报告（也称"褐皮书"）。 褐皮书显示，本周期，大多数银行报告消费者支出出现轻微至温和增长，这主要归因于假日购物季；近期就业状况基本保持不变，12个地区中有8个地区 报告招聘活动未见变化；绝大多数地区价格以温和速度增长，仅有两个地区报告价格小幅上涨。关税引发的成本压力是所有地区普遍存在的问题。 美联储每年发布8次褐皮书，通过联邦储备银行对全美经济形势进行摸底。该报告是美联储货币政策会议的重要参考资料。 此外，尽管2025年11月延迟公布的生产者价格指数（PPI）和零售销售数据表现坚挺，但股市依然走低。 褐皮书显示，在12个联邦储备区中，有8个地区的整体经济活动以轻微至温和的速度增长，3个地区报告没有变化 ...