深陷业绩经营困境的中山证券，又有了新麻烦。 此前，1月16日晚，在最新的2025年未经审计的财报中，中山证券表现不佳，营业收入同比下降 29.17%，净利润同比下降88.06%。 2026年1月20日，锦龙股份发布公告，披露其控股子公司中山证券收到吉林省长春市中级人民法院应诉 通知，因一起侵权责任纠纷被光大长春分行列为被告，诉讼请求金额合计为4.89亿元。 据悉，该纠纷起源于2014年的一笔3.5亿元委托贷款业务。2014年5月，招商银行股份有限公司无锡分行 （简称"招商无锡分行"）委托中山证券设立定向资产管理计划，指令其投资平安银行股份有限公司深圳 分行（简称"平安深圳分行"）作为受托人的委托贷款，资金投向柳河聚鑫源米业有限公司（简称"柳河 米业"），投资期限为一年。 锦龙股份在公告中强调，该投资系由招商无锡分行决策，投资安全及任何风险收益均由招商无锡分行负 责。中山证券根据相关约定，代表资产管理计划及其委托人通知平安深圳分行将委托贷款资金3.5亿元 转入借款人柳河米业账户。 投资期限届满后，该笔委托贷款未能按约收回。光大长春分行在诉讼中主张，其下属汽车厂支行员工张 磊与柳河米业实控人刘孝义冒用该行名义，于 ...

Core Viewpoint - Haige Communication's stock price experienced significant volatility, initially doubling in value within a month due to the commercial aerospace sector's boom, but subsequently plummeting after announcing expected losses for 2025, marking the first loss since its listing [2][3][4]. Group 1: Stock Performance - The stock price of Haige Communication rose from a low of 12 yuan to a peak of 26.62 yuan, representing a 137% increase within a month [3]. - Following the announcement of expected losses on January 14, the stock price fell to 18.10 yuan, a decrease of 32% from its peak, resulting in a market value loss exceeding 200 billion yuan [2][4]. Group 2: Financial Performance - In 2024, Haige Communication reported a revenue of 49.20 billion yuan, down 23.71% year-on-year, with a net profit of 1.07 billion yuan, a decline of 85.42% [5]. - For the first half of 2025, the company recorded a revenue of 22.29 billion yuan, a 13.97% decrease, and a net profit of only 251.38 million yuan, down 98.72% year-on-year [5]. - By the third quarter of 2025, the company faced a significant loss of 1.78 billion yuan, with total revenue for the first three quarters at 9.28 billion yuan, a 16.17% decline [5]. Group 3: Shareholder Actions - The company's major shareholder, Yang Haizhou, engaged in significant share sell-offs, liquidating approximately 96.81 million yuan worth of shares between October and December 2025 [6]. - Yang Haizhou's recent selling activity was noted to be more frequent compared to previous years, raising concerns among investors regarding the company's financial health [6].

Core Viewpoint - Tonghuashun (300033.SZ) forecasts a net profit for 2025 between 2.735 billion and 3.282 billion yuan, representing a growth of 50% to 80% compared to the previous year [2][4]. Financial Performance - The projected net profit attributable to shareholders is between 2.735 billion yuan and 3.282 billion yuan, with a year-on-year growth of 50% to 80% [2][3]. - The net profit after deducting non-recurring gains and losses is expected to be between 2.647 billion and 3.178 billion yuan, also reflecting a growth of 50% to 80% compared to the previous year [2][3]. Historical Context - In 2019 and 2020, Tonghuashun experienced net profit growth rates of 41.6% and 92.5%, respectively. The growth rates for 2021 to 2024 were 10.86%, -11.51%, -17.01%, and 30%, indicating that the 2025 growth rate will be the highest in the last five years [4]. Business Drivers - The company attributes its performance improvement to increased investments in artificial intelligence and the integration of product innovation with large model technology, enhancing core product competitiveness and user experience [4]. - The recovery of the domestic capital market has also played a significant role, with increased investor confidence and trading activity, leading to a heightened demand for financial information services [4]. - User engagement on the Tonghuashun website and app has risen, prompting the company to expand its customer base in lifestyle, consumption, and technology sectors, alongside increased demand from financial clients such as securities and funds, resulting in growth in advertising and internet promotion service revenues [4]. Shareholder Activity - The founder and controlling shareholder, Yi Zheng, announced a plan to reduce his stake by up to 684,000 shares (0.13% of total shares) but later decided to terminate this plan shortly after its announcement [5].

会上，市场监管总局质量发展局副局长史新章表示，移动电源召回事件直接产生的问题为生产企业对电 芯的质量管控出现漏洞。但背后更深层次的原因则是移动电源行业快速发展过程中的"价格战""内卷式 竞争"，移动电源零售价不断逼近物料成本线。 南都讯 2025年年初，全国范围内陆续发生多例移动电源产品起火爆炸事故。"移动电源行业的内卷，导 致生产企业忽视产品质量安全体系建设、过度追求规模扩张，最终因内卷引发行业危机的集中爆 发。"市场监管总局质量发展局副局长史新章说道。 1月21日上午，市场监管总局召开2025年综合整治"内卷式"竞争十大典型案例专题新闻发布会，其中一 起案例为广东、湖南、北京等地市场监管部门对移动电源产品实施缺陷调查与召回。 史新章表示，下一步，市场监管总局将持续强化移动电源产品召回监管，加大对存在质量安全问题产品 的缺陷信息收集、调查和召回工作力度，督促企业严格落实缺陷产品召回法定义务，对违反《消费品召 回管理暂行规定》要求、隐瞒缺陷、落实召回措施不力等行为的企业，严格依法依规进行处置。 （文章来源：南方都市报） 据他介绍，市场监管总局通过对问题充电宝的缺陷召回工作，在综合整治移动电源行业"内卷式"竞争 ...

20日，2026第二届国际会展活动产业链大会（简称"第二届展链会"）在深圳国际会展中心开幕。作为粤 港澳大湾区会展活动领域的高端平台，本届大会汇聚了来自政府、行业协会、会展产业链上下游企业、 品牌主、科技公司与跨界机构的2000名精英，共同开启了一场关于构建会展活动协同新生态、共赴产业 新世界的思想与实践盛宴。 人工智能与数字化成为本届大会最显著的亮点。从由AI深度参与生成的开场视频，到特设的AIGC创作 培训+大赛、AI赋能会展的专题论坛，大会本身已成为"科技+会展"融合创新的展示舞台。 据悉，第二届展链会还设置了中国会展网红节、会展AIGC创新大赛、链接π对、展区沙龙等一系列创新 环节，持续激荡创新思维，拓展合作边界。 采写：南都N视频记者许晓蕾 2026展链会由中国会展经济研究会指导，广东会展组展企业协会、深圳市会议展览业协会主办。展链会 创始人、中国会展经济研究会文商旅融合专委会主任谌立雄以"大厨"的比喻，生动阐述了第二届展链会 作为一场市场化"盛宴"的核心设计：洞察趋势的主论坛与绿色创新的行业生态展，分享逆周期增长实战 的案例大课、百亿招采对接都是硬核"大菜"，营造深度连接的"会展人春晚"是"主菜" ...

Core Viewpoint - The Guangdong Provincial Market Supervision Administration has released typical cases of online trading violations for 2025, focusing on significant issues raised by the public regarding online transactions [1] Group 1: Case Details - A women's shoe store in Huizhou City, Huizhou County, was found to have failed to publicly display its business license information as required, which is a violation of the relevant regulations in the "Online Trading Supervision and Management Measures" [1] - During an inspection on April 14, 2025, the local market supervision bureau discovered that the store only made a routine declaration in the "store statement" section and did not prominently display the business license on the homepage [1] - After being ordered to rectify the situation, the store failed to comply by the deadline, leading to an administrative penalty of a fine imposed on July 25, 2025 [1] Group 2: Regulatory Intent - The publication of these typical cases aims to guide online traders to operate in compliance with the law and to deter illegal and non-compliant behavior [1]

Core Insights - The global television industry is undergoing unprecedented adjustments in 2026, with significant market structural changes driven by large-screen demand, Mini LED technology proliferation, and AI integration [1] Group 1: Market Trends - Global television shipments fell below 200 million units in 2025, marking a ten-year low, with a projected further decline of 5%-7% in 2026 [2] - China's television market, as the largest consumer market, saw a shipment volume of 32.895 million units in 2025, down 8.5% year-on-year, the lowest since 2010 [2] - The first half of 2025 saw a slight increase of 1.4% in shipments due to government subsidies, but the second half experienced a significant decline of 16.9% due to policy effects waning and demand being pulled forward [4] Group 2: Regional Performance - The European market is under pressure, with Western Europe expected to decline, while Eastern Europe shows slight growth due to economic recovery [4] - North America remains relatively stable, supported by a solid consumer base and event marketing [4] - Emerging markets in Asia-Pacific, Latin America, and the Middle East and Africa still have growth potential, but rising memory chip prices may limit actual volume due to price sensitivity [4][5] Group 3: Technology and Innovation - Mini LED technology is expected to enter its popularization phase in 2026, with global shipments projected to exceed 300,000 units, becoming a new profit engine for the high-end market [7] - Chinese brands like Hisense and TCL are leading innovations in RGB-Mini LED and SQD-Mini LED technologies, with significant growth in shipments expected [7][8] - AI technology is redefining the role of televisions, with companies like Huawei and Skyworth investing heavily in AI capabilities to enhance user experience [12][13] Group 4: Competitive Landscape - The competition is shifting from price wars to a comprehensive comparison of technology, supply chain, and globalization capabilities [5] - In 2025, the top three brands—Samsung, TCL, and Hisense—held over 43% of the global market share, with Samsung leading at 35.3 million units shipped [13] - The partnership between Sony and TCL for future strategic cooperation in home entertainment is expected to further disrupt the market dynamics [14]

南都讯 记者王睦广 1月20日，深圳市福田区政协六届六次会议拉开帷幕。会上，福田区政协主席李世清 代表政协第六届深圳市福田区委员会常务委员会作工作报告。报告立足2025年"十四五"收官与福田建区 35周年的里程碑节点，系统回顾了过去一年的履职成效，并明确，2026年作为"十五五"开局之年与 APEC会议在深举办之年，福田区政协将以"福协润田"为工作主线，持续深化"福"字协商实践。 2025年履职"成绩单" "福"字系列改革提质效，协商民主结硕果 作为福田政协履职重点，"福"字系列协商矩阵2025年持续优化升级，形成"五福临门、福联在线、福议 增效、福栈协治"四位一体格局，全年协商质效实现"量质双升"。 "五福临门"广纳群言。全年开展各类协商活动167场，立案提案253件，形成调研、视察及协商报告271 篇。围绕区"十五五"规划编制提出意见建议626条，协商参与人数、建议数量同比实现"双增长"。 "福联在线"扎根基层。360余名政协委员深入凝心聚力、决策咨询、协商民主、国家治理"四个第一 线"，开展履职为民活动35场，建立10个联系群众诉求收集点，编报《福田社情民意》15期，精准推动 解决群众急难愁盼问题5大类 ...

"全年审议法规案18件，开展监督83项，备案审查规范性文件59件，作出决议决定17项，任免国家工作 人员166人次，交办代表建议7266件。"1月20日下午，广州市十六届人大六次会议举行第二次全体会 议，广州市人大常委会主任王衍诗作广州市人民代表大会常务委员会工作报告（以下简称"报告"）。 在开展监督方面，广州人大持续对列入年度国民经济和社会发展计划的998个重点建设项目开展监督， 每季度对进展滞后的项目提出改进意见。首次运用AI赋能预算审查，精准快速识别问题125个，切实为 人民把好预算关。 报告明确了2026年广州人大的重点工作任务。在立法工作方面，广州人大锚定新兴领域和工作急需加快 立法，力争创造更多引领性、前瞻性、独创性立法成果，拟安排立法项目36个，包括制定人工智能发展 促进条例、跨境电子商务促进条例等法规。认真研究粤港澳大湾区规则衔接、机制对接中的法律问题， 以改革精神探索破解南沙方案落实、大湾区建设法律难题。 在监督工作方面，广州人大拟安排监督议题73项，聚焦经济高质量发展、现代化产业体系建设、南沙开 发开放、城市更新和城中村改造、"百千万工程"实施、民生事业发展、重点领域风险防范化解、电动自 ...

Core Viewpoint - Yonghui Supermarket is projected to incur a net loss of 2.14 billion yuan in 2025, marking the sixth consecutive year of losses since 2021, with a cumulative loss of approximately 11.641 billion yuan [1][4]. Group 1: Financial Performance - The net profit attributable to shareholders for 2025 is estimated at -2.14 billion yuan, while the net profit after excluding non-recurring gains and losses is projected at -2.94 billion yuan [1]. - The cumulative loss since 2021 amounts to approximately 11.641 billion yuan, with the 2025 loss expected to exceed that of 2023 and 2024 [1]. Group 2: Strategic Adjustments - In 2025, the company is shifting its operational strategy from "scale expansion" to "quality growth," rebranding as "New Yonghui, New Quality" [4]. - The company plans to significantly adjust its store layout, with 315 stores undergoing deep modifications and 381 stores being closed due to misalignment with future strategic positioning [4]. Group 3: Impact of Store Adjustments - The adjustments to stores will incur substantial costs, including asset write-off losses and one-time setup costs totaling approximately 910 million yuan, alongside an estimated gross profit loss of about 300 million yuan due to store closures [4]. - The closure of 381 stores will lead to significant losses, including asset write-off losses, employee severance compensation, and lease-related penalties [4]. Group 4: Supply Chain and Investment Challenges - Yonghui is reforming its supply chain with a focus on transparency, quality, and efficiency, which has led to short-term challenges such as stock shortages and declining gross margins [5]. - The company has recognized a fair value loss of 236 million yuan on its overseas equity investment in Advantage Solutions due to a continuous decline in stock prices, and it anticipates a long-term asset impairment of 162 million yuan [5]. Group 5: Store Count and Future Outlook - As of the end of 2024, Yonghui had 775 stores, with 381 closures planned for 2025, leaving at least 400 stores operational, of which 315 have already been modified [7]. - The performance of the modified stores will be crucial in determining whether the company will continue to close a significant number of stores in 2026 [7]. Group 6: Management's Vision - The new CEO has indicated that Yonghui aims to recover customer trust over the next 2 to 3 years and to become a supermarket that customers feel proud of within 5 to 10 years [8]. - Data from the company's recent adjustments show an average customer traffic increase of 80% in modified stores, with over 60% of these stores achieving profitability levels surpassing their highest in the past five years [8].