人民财讯1月23日电，据海南日报，2025年全省接待国内外游客1.06亿人次，同比增长9.1%；其中接待 入境游客150.05万人次，同比增长35.2%，接待入境过夜游客594.29万人夜，同比增长59%；游客总花费 2254.32亿元，同比增长10.5%。旅游迈入"游客量超1亿人次、总花费超2000亿元"新阶段，旅游高质量 发展成效显著。 ...

Core Viewpoint - The capital market has shown significant positive changes since the initiation of the "9.24" market trend in 2024, particularly with the strong performance of private equity quantitative products, attracting investments from several small and medium-sized insurance companies [1] Group 1: Investment Trends - Private equity quantitative products, especially quantitative index-enhanced products, have performed well, leading to increased interest from small and medium-sized insurance companies [1] - Insurance capital primarily invests in private equity quantitative products indirectly through a "manager of managers" (MOM) structure, where they invest in a single asset management plan managed by a brokerage firm, with private equity firms acting as advisors [1] Group 2: Regulatory Environment - The current regulatory framework has not clearly defined the investment of insurance capital in private equity products, resulting in a cautious approach from insurance companies [1] - There are ongoing debates regarding the investment in private equity quantitative products, with concerns about policy compliance and potential conflicts of interest [1] Group 3: Market Perspectives - Some market participants argue that investments in private equity quantitative products are still in a gray area and pose risks related to policy and compliance [1] - Conversely, other investors believe that these investments represent a proactive attempt by small and medium-sized insurance companies to navigate a low-interest-rate environment, aligning with the goal of increasing long-term capital market participation [1]

由于溢价率居高不下，在1月22日全天停牌后，国投白银LOF于1月22日晚间继续宣布暂停场内交易，将于2026年1月23日开市起至当日10:30停牌。 伴随着国际银价飙升，白银期货价格在本周一度突破95美元/盎司，自2025年初以来已上涨超过230%。作为公募基金市场唯一一只主要投资于白银期货的 基金——国投白银LOF净值也一路上涨。在限购的情况下，国投白银LOF场内溢价率高企，这已经是国投白银LOF自2026年1月以来第15次提示溢价风 险。 国投白银LOF作为公募基金市场唯一一只主要投资于白银期货的基金，无论是场外申购还是场内交易，其相对于白银期货的波动和交易门槛都极低，也因 此获得大量资金追捧配置。 国投白银LOF场内价格近期也大幅飙升，2026年开年不足一个月涨幅已超过70%，2025年累计涨幅接近160%。在限制大额申购的情况下，该基金四季度 规模依然大幅增长。 国投白银LOF明日继续停牌 1月22日晚间，国投瑞银基金公告，旗下国投瑞银白银期货证券投资基金（LOF）A类基金份额二级市场交易价格明显高于基金份额净值，出现较大幅度 溢价。为保护投资者利益，基金自2026年1月23日10:30复牌。在此之前 ...

（原标题：时报观察丨首批设备更新资金下达 稳投资力度加码可期） 证券时报记者 贺觉渊 2026年首批936亿元超长期特别国债支持设备更新资金已于近期下达，额度较2025年同期有所提升，为 新的一年经济良好开局注入确定性的同时，也再度彰显出今年稳投资政策力度加码。 除大力支持企业设备更新外，开年以来，我国重大项目建设力度亦显著加码。约2950亿元的2026年提前 批"两重"建设项目清单及中央预算内投资计划已于年前下达，多地开展新增地方政府专项债券招标发 行，一批支持科技创新、民生保障等领域的重大项目在年初密集开工。 在一揽子政策落地见效、中央预算内投资加快拨付、地方政府专项债券靠前发力、央行开展结构性降息 等多重因素支持下，研究机构普遍预计一季度投资增速将实现止跌回稳。考虑到2026年财政总支出规 模"只增不减"，全年稳投资力度将持续加码，投资有望稳步回升向好。 2025年，设备工器具购置投资同比增长11.8%，占全部固定资产投资比重近两成，是稳住投资基本盘的 关键一环。当前，我国仍处于第四轮设备投资周期，制造业、医疗、教育等领域普遍存在系统性设备代 际差，产业转型升级催生旺盛的更新需求。据相关机构测算，仅工农 ...

为此，沈晗耀提出多个举措，包括组建高层系统化统筹推进主体、打造研发型（R&D）大学体系、举 办全球百强顶尖科创大赛、搭建全球最大规模的科创转化交易中心、构建多元化科创资金体系等。 同日，《华顿版2026世界百强大学排行榜》发布，榜单在全球三大主流大学排行榜（TIMES、QS和 USNews）基础上，加入Nature Index自然指数排行榜，以1：1：1：1权重计算。 榜单显示，哈佛大学、麻省理工学院蝉联榜单第一、第二名。剑桥大学、清华大学排名与去年持平，分 列第五、第六名。北京大学上升一位至第七名。中国的武汉大学是位次上升最多的大学（上升16名）。 中国（含港澳台地区）以18所上榜高校位居全球第二，较去年新增两所。 沈晗耀强调，世界百强大学排行榜为三大国际科创中心建设链接全球顶级大学资源、引育顶尖创新人才 精准提供了方向和指引。 （原标题：沈晗耀建议多举措赋能国际科创中心高质量建设） 1月20日，"百强公司-百强大学协同共建三大世界级科创中心研讨会暨2026年华顿版世界百强大学排行 榜发布会"在京举办。会上，中国百强论坛主席、华东理工大学民营经济研究院院长、华顿经济研究院 院长沈晗耀发表主题演讲。 他建议构 ...

Core Viewpoint - Fabatianxing Insurance, backed by foreign companies and Xiaomi Group, officially launched in Beijing, marking the entry of the 90th property insurance company in China's market [1] Group 1: Company Overview - Fabatianxing Insurance received approval to establish in October 2024 and was granted operational approval by the financial regulatory authority on October 17, 2025 [2] - The company has a registered capital of 1 billion RMB, with shareholders including France's Paris Insurance Group (49%), Sichuan Yinmi Technology Co., Ltd. (33%), and Volkswagen Financial Services Overseas (18%) [2] - The company will focus on the new energy vehicle insurance sector, aiming to develop specialized auto insurance products and enhance claims processes for better customer service [1][2] Group 2: Shareholder Background - France's Paris Insurance Group is a member of the renowned Paris Bank Group and has a long-standing presence in the Chinese market [2] - Sichuan Yinmi Technology Co., Ltd. is a member of Xiaomi Group, with significant ownership by Lei Jun [2] - Volkswagen Financial Services Overseas has established a presence in China through its investments in automotive finance [3] Group 3: Strategic Focus - Fabatianxing Insurance aims to leverage global resources, technological innovation, and industry collaboration to create value for customers [1] - The company plans to diversify its insurance solutions to expand user protection and build a unique competitive advantage in the market [3] - The management team includes experienced professionals, with the chairman and general manager approved by the financial regulatory authority [3]

中国有色金属工业协会硅业分会发布的数据显示，本周多晶硅N型复投料成交均价为5.92万元/吨，N型 颗粒硅成交均价为5.58万元/吨，均环比持平。总的来看，本周尽管部分企业报价出现小幅松动，但主 流市场成交价整体持稳。市场交投氛围清淡，新签订单数量稀少，仍以少量试探性成交为主。 硅业分会认为，当前市场僵局主要源于两方面因素：其一，尽管光伏产品出口退税等政策对中长期需求 形成预期支撑，但部分需求已在2025年提前预支，导致下游硅片企业开工率提升意愿不足，对硅料的即 时采购需求支撑有限；其二，白银价格持续飙升大幅推高电池片及组件生产成本，硅料报价的小幅下调 对下游成本下降影响有限。同时，多晶硅企业持续低开工率导致综合成本上升，进一步强化了价格底部 支撑。 该机构预计，硅料价格走势的关键变量在于：第一，下游开工率的实质性变化，尤其是电池和组件端订 单需求对硅片端的有效传导；第二，库存去化的可持续性，若需求未能及时回暖，当前的高位库存仍将 成为压制价格的主要因素。 本周硅片价格同样持稳运行，其中，183N单晶硅片成交均价在1.31元/片，210RN单晶硅片成交均价在 1.42元/片，210N单晶硅片成交均价在1.66元 ...

Core Viewpoint - The company, Zhaoyi Innovation, has announced a series of significant updates including a performance forecast for 2025, capital increases for subsidiaries, procurement of DRAM products, and the launch of a new high-performance MCU series. Group 1: Performance Forecast - Zhaoyi Innovation expects a net profit attributable to shareholders of approximately 1.61 billion yuan for 2025, representing a year-on-year increase of about 46% [1] - The net profit, excluding non-recurring gains and losses, is projected to be around 1.423 billion yuan, reflecting a year-on-year growth of approximately 38% [1] - The company anticipates total revenue of about 9.203 billion yuan for 2025, which indicates a year-on-year increase of approximately 25% [1] Group 2: Reasons for Performance Changes - The revenue growth is attributed to multiple synergistic effects from technological advancements, industry optimization, and effective strategic implementation [1] - The acceleration of AI computing power construction has significantly boosted demand, particularly benefiting the company's products in the PC, server, and automotive electronics sectors [1] - The storage industry is experiencing a steady upward cycle, with improved supply-demand dynamics driving both price and volume increases [1] Group 3: Capital Increase and Investments - The company plans to use 500 million yuan of A-share fundraising to increase capital in its wholly-owned subsidiary and subsidiaries, specifically for the "DRAM Chip R&D and Industrialization Project" [2] - After the capital increase, the registered capital of Zhuhai Xinchun will change from 100 million yuan to 150 million yuan, while the registered capital of Hefei Xinchun and Xi'an Xinchun will increase to 40 million yuan and 70 million yuan, respectively [2] Group 4: Procurement and Strategic Partnerships - In the first half of 2026, the company expects to procure DRAM products from Changxin Technology Group and its subsidiaries, with an estimated transaction amount of 221 million USD, equivalent to about 1.547 billion yuan [3] - Changxin Group is recognized as a rare IDM enterprise in the domestic DRAM storage market, and this partnership is crucial for the company's niche DRAM business [3] - The collaboration aims to optimize resource allocation and enhance the company's core competitiveness and industry position [3] Group 5: New Product Launch - The company has officially launched the new GD32H7 series of high-performance MCUs, which includes the GD32H789/779 series and the GD32H78E/77E series with integrated EtherCAT slave controllers [3] - These microcontrollers are designed for applications in servo control, variable frequency drives, digital power, portable electronics, smart homes, and firefighting, setting a new performance benchmark [3]

三连板的盈方微(000670)发布业绩预告，预计2025年公司亏损幅度可能同比扩大。业绩预告显示，2025年公司 实现归属于上市公司股东的净利润为-6900万元至-9700万元，扣非后净利润-6976万元至-9776万元，每股收 益-0.1187至-0.0844元。相比，2024年公司实现归属净利润-6197.04万元。 | 项目 | 本报告期 | | 上年同期 | | --- | --- | --- | --- | | 归属于上市公司股东的净利润 | -9. 700 | -6, 900 | -6, 197. 04 | | 扣除非经常性损益后的净利润 | -9.776 | -6, 976 | -6. 342. 99 | | 基本每股收益(元/股) | -0. 1187 | -0. 0844 | -0. 0759 | 对于亏损原因，公司介绍，受市场影响，分销业务部分产品销售价格下降、新产品线目前处于开拓状态，毛 利较低，从而导致整体毛利率下滑；另外，公司实施上市公司股权激励计划确认股份支付费用、大股东资助 款及对外融资确认财务利息费用、公司计提商誉减值准备等原因所致。盈方微通过控股子公司华信科及World St ...

Core Viewpoint - Multiple A-share listed companies are expected to significantly increase their performance in 2025, with notable growth in net profits compared to the previous year. Group 1: Company Performance Forecasts - Shenzhen Nanshan Electric (深南电A) anticipates a net profit attributable to shareholders of 150 million to 180 million yuan, representing a growth of 584.66% to 721.59% year-on-year, driven by asset disposals and improved operational management [1][2] - Lantian Co., Ltd. (闰土股份) projects a net profit of 600 million to 700 million yuan, an increase of 181.05% to 227.89% from the previous year, attributed to higher profits from active dyes and basic chemicals, as well as investment gains of approximately 330 million yuan [2][3] - Qingsong Co., Ltd. (青松股份) expects a net profit of 130 million to 165 million yuan, reflecting a growth of 137.73% to 201.74% year-on-year, supported by a recovery in the domestic cosmetics market and a significant impact from non-recurring gains of about 34 million yuan [3][4] - Tianhe Co., Ltd. (天禾股份) forecasts a net profit of 41 million to 60 million yuan, indicating an increase of 84.35% to 169.78% compared to the previous year, achieved through effective risk management and operational improvements despite a challenging agricultural market [4][5]