1、银河基金管理有限公司 为更好地满足广大投资者的需求，由银河基金管理有限公司（以下简称"本公司"、"基金管理人"）申 请，并经上海证券交易所确认，自2026年1月26日起新增申万宏源证券有限公司、申万宏源西部证券有 限公司为本公司旗下部分基金的一级交易商（即申购赎回业务代办证券公司），投资者自2026年1月26 日起可在上述一级交易商办理本基金的申购、赎回等业务，具体的业务流程、办理时间和办理方式以上 述一级交易商的规定为准。 客户服务电话：95523、4008895523 一、适用基金 ■ 二、投资者可通过以下途径咨询有关详情： 客户服务电话：400-820-0860 网址：www.cgf.cn 网址：www.swhysc.com 3、申万宏源西部证券有限公司 风险提示：基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金财产，但不保证基金一定盈 利，也不保证最低收益。投资者做出投资决策之前，请仔细阅读基金合同、基金招募说明书和基金产品 资料概要等产品法律文件，充分认识基金的风险收益特征和产品特性，认真考虑基金存在的各项风险因 素，并根据自身的投资目的、投资期限、投资经验、资产状况等因素充分考虑自身的风 ...

Core Viewpoint - The announcement details the expiration and redemption process of "Lianchuang Convertible Bonds," including key dates and terms for bondholders [2][5][7]. Group 1: Bond Expiration and Redemption Details - "Lianchuang Convertible Bonds" maturity date is March 16, 2026, with a redemption price of 110 RMB per bond, including tax and final interest [2][7]. - The last trading day for "Lianchuang Convertible Bonds" is March 11, 2026, and trading will cease on March 12, 2026 [2][6]. - Bondholders can convert their bonds into company stock at a conversion price of 11.18 RMB per share until the end of the conversion period on March 16, 2026 [6][4]. Group 2: Issuance and Listing Information - The company issued 3 million convertible bonds on March 16, 2020, with a total value of 30 million RMB and a six-year term [2][3]. - The bonds were listed on the Shenzhen Stock Exchange on April 13, 2020, under the name "Lianchuang Convertible Bonds" and code "128101" [3]. Group 3: Redemption and Payment Process - The company will redeem all unconverted bonds at 110% of the face value within five trading days after maturity [5]. - The payment date for the redemption amount is March 17, 2026, and funds will be transferred to bondholders' accounts through the custodian broker [8]. Group 4: Additional Information - The company will issue at least three reminder announcements regarding the cessation of trading before the end of the conversion period [6]. - For any inquiries, investors can contact the company's securities department [9].

Core Viewpoint - The inclusion of index funds in the personal pension fund directory and the establishment of Y shares has led to significant growth, with total scale expanding from 316 million to 4.243 billion by 2025, indicating a strong potential for index products in domestic pension investments [1][3]. Group 1: Index Fund Growth and Importance - The total scale of Y shares in index funds is projected to grow from 316 million to 4.243 billion by 2025, highlighting a rapid expansion [1]. - Index products are expected to become a crucial vehicle for domestic pension investments, similar to their role in the U.S. 401K plans [3]. - The low cost of index products provides investors with flexible and convenient investment options, making them attractive for long-term investment [3]. Group 2: Investment Strategy and Risk Management - The management of index-enhanced products must focus on providing stable long-term returns while controlling downside volatility [4]. - Excessive pursuit of short-term excess returns can lead to greater losses during market corrections, emphasizing the need for stable investment strategies [5]. - The importance of managing downside volatility is crucial for maintaining investor experience and avoiding forced selling during market downturns [6]. Group 3: Value Investing and Market Trends - The principle of maintaining industry balance and value stock selection is emphasized, with a focus on minimizing trading friction costs to enhance long-term returns [7]. - Value stocks, characterized by low volatility, are seen as resilient during market downturns, providing a safer investment option [7]. - Recent trends in the A-share market indicate a pattern where previously favored stocks continue to perform well, suggesting a potential strategy for fund managers to track and adapt to these changes [7].

Core Viewpoint - The company forecasts significant growth in revenue and net profit for the year 2025, driven by its focus on AI transformation and product innovation [2][5]. Performance Forecast - The company expects to achieve an operating revenue of 922 million yuan in 2025, an increase of 270.12 million yuan, representing a year-on-year growth of 41.44% [2]. - The projected net profit attributable to the parent company is 204 million yuan, an increase of 97.42 million yuan, reflecting a year-on-year growth of 91.40% [2]. - The net profit after deducting non-recurring gains and losses is expected to be 192 million yuan, an increase of 113.45 million yuan, indicating a year-on-year growth of 144.42% [2]. Financial Metrics - The estimated net profit margin for 2025 is 22.13%, an increase of 5.78 percentage points compared to the net profit margin of 16.35% in 2024 [3]. Previous Year Performance - In 2024, the company reported an operating revenue of 651.88 million yuan, with a total profit of 108.19 million yuan and a net profit attributable to the parent company of 106.58 million yuan [4]. Reasons for Performance Changes - The company has focused on AI transformation for edge products, increasing R&D investment and accelerating new product iterations, resulting in significant operational achievements [5]. - The successful promotion of edge AI audio chips based on first-generation in-memory computing technology has led to multiple projects being launched and mass-produced [5]. - The company has seen a substantial increase in market penetration and sales revenue for its edge AI processor chips and low-latency high-quality wireless audio products [5]. - R&D expenses totaled approximately 240 million yuan, reflecting an increase of 11.56% year-on-year, supporting the iterative upgrade of chip products [6]. - The company aims to enhance its competitive edge by focusing on downstream market demands and deepening AI technology R&D and market promotion [6].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600882 证券简称：妙可蓝多 公告编号：2026-007 上海妙可蓝多食品科技股份有限公司 关于参股并购基金进展及相关风险的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 由于上海妙可蓝多食品科技股份有限公司（以下简称"公司"或"妙可蓝多"）参股的上海祥民股权投资基 金合伙企业（有限合伙）（以下简称"并购基金"）及其下属主体担保的吉林省耀禾经贸有限公司（以下 简称"吉林耀禾"或"债务人"）逾期未清偿债务，并购基金及其下属主体因相关担保无法实现清算分配， 公司无法收回并购基金中本金及相应收益。 鉴于承诺人柴琇女士未能履行其此前向公司作出足额补偿的承诺，公司就柴琇女士该项承诺向上海国际 经济贸易仲裁委员会（上海国际仲裁中心）（以下简称"上海国际仲裁中心"）提出仲裁申请，并于近日 收到《仲裁受理通知》[上国仲(2026)第175号]。 一、公司参股并购基金的基本情况 有关公司参与并购基金的决策程序、并购基金对外投资情况、承诺人涉及并购基金的相 ...

Core Insights - The year 2025 marked a pivotal moment for the robotics industry, transitioning from experimental showcases to practical applications in various sectors [1][3] - The industry is expected to experience significant growth, with a projected increase in humanoid robot production reaching 100,000 units by 2026, driven by commercialization across multiple sectors [3][8] Industry Developments - The robotics industry has achieved several milestone breakthroughs, with domestic production exceeding expectations and reaching over 10,000 units [3] - The emergence of cost reduction through domestic core component breakthroughs has cleared obstacles for large-scale production, significantly lowering production costs compared to 2024 [3] - The integration of AI models, such as 'visual-language-action' frameworks, is anticipated to enhance robots' capabilities, enabling them to understand and make decisions autonomously [4] Investment Strategies - Investors are advised to "deeply engage with the industry and follow changes," focusing on the established automotive supply chain that underpins robotics [5] - Investment opportunities are categorized into three areas: supply chain targets closely linked with leading companies like Tesla, new component demands arising from technological iterations, and growth opportunities within domestic supply chains [5][6] - The investment approach combines a focus on industry fundamentals with dynamic adjustments based on ongoing industry developments [7] Market Outlook - The robotics sector is characterized by a blend of optimism and caution, with key milestones such as Tesla's production advancements and public showcases expected to influence market sentiment [8] - The long-term outlook for the robotics industry is positive, with expectations of robots serving as interfaces between the physical and intelligent worlds, integrating with AI, communication technologies, and brain-machine interfaces [9]

Core Viewpoint - The newly released "Guidelines for Performance Comparison Benchmarks of Publicly Offered Securities Investment Funds" and "Operational Details for Performance Comparison Benchmarks" aim to enhance investor experience by providing a clear reference for fund selection, effective from March 1, 2026 [1][6]. Group 1: Constraints on Investment Behavior - The guidelines require that the selection and use of performance comparison benchmarks prioritize the interests of fund shareholders and meet criteria of representativeness, objectivity, continuity, and constraint [2][7]. - The emphasis on performance benchmarks is expected to standardize the investment behavior of fund managers, leading to clearer and more stable investment styles and product positioning [2][7]. - A clear and stable benchmark will serve as a practical reference for investors, allowing them to objectively assess fund managers' active management capabilities and reduce the impact of short-term net value fluctuations [2][7]. Group 2: Linking to Compensation Assessment - One of the most notable aspects of the guidelines is the linkage of performance benchmarks to fund manager compensation, encouraging a focus on long-term returns [3][8]. - Fund managers are required to establish a performance assessment system centered on fund investment returns, with significant penalties for underperformance relative to benchmarks [3][8]. - This linkage is expected to shift the industry’s competitive focus from short-term rankings to the ability to generate long-term, stable excess returns for investors [9]. Group 3: Establishing a Comprehensive Regulatory Framework - The guidelines and operational details impose requirements on other market institutions, including fund evaluation and award agencies, to adopt a more scientific approach to fund performance evaluation [4][10]. - Fund managers and sales institutions are required to display both fund performance and benchmark performance, facilitating better comparisons for investors [10][11]. - The guidelines aim to create a multi-dimensional supervision system covering product creation, investment operations, sales services, and performance evaluation, thereby enhancing the overall industry ecosystem [11].

Core Viewpoint - The company ST Dongshi's actual controller Xu Xiong has been sentenced to six years and six months in prison for manipulating the securities market, which has led to a significant decline in the company's financial performance and stock price [1][2]. Group 1: Legal Proceedings - The Shanghai High People's Court upheld the original ruling against Xu Xiong, maintaining the sentence and fines imposed by the Shanghai First Intermediate People's Court [2]. - Xu Xiong was sentenced to six years and six months in prison and fined 170 million RMB, with illegal gains to be confiscated and tools used in the crime to be seized [1][2]. Group 2: Financial Performance - For the first three quarters of 2025, ST Dongshi reported revenue of 497 million RMB, a year-on-year decrease of 24.43%, and a net profit attributable to shareholders of -103 million RMB, continuing its losses [3]. - The company anticipates a net loss of 600 million to 700 million RMB for the entire year of 2025, with a non-recurring net profit loss expected to be between 505 million and 605 million RMB [3]. - The decline in performance is attributed to a decrease in the number of training students compared to the previous year, increased operating expenses due to litigation and administrative penalties, and significant asset impairment losses related to ongoing legal issues [3].

Group 1 - The core focus of the market this week is on companies involved in overseas expansion, with significant interest in Daikin Heavy Industries, which received inquiries from over 200 institutions [1][2] - A total of nearly 500 companies have disclosed institutional investor research records since the beginning of the year, with Daikin Heavy Industries leading at 209 inquiries [1][2] - The top ten A-share companies by the number of research institutions include Daikin Heavy Industries, Xiangyu Medical, and Haitan Ruisheng, indicating a strong interest in sectors such as heavy electrical equipment and medical devices [1][2] Group 2 - Daikin Heavy Industries is focusing on the European and other overseas markets for offshore wind bidding in 2026, with significant projects expected in Germany, Japan, the Netherlands, and Poland [3] - The company has a high market share in the German offshore wind foundation sector and has secured a port in Cuxhaven for localized services [3] - Xiangyu Medical is also exploring overseas business, prioritizing products with FDA and CE certifications for markets along the Belt and Road, and considering local manufacturing or acquisitions [3] Group 3 - Haitan Ruisheng plans to establish a second localized delivery base in Southeast Asia by 2026, which will enhance its capacity to handle large orders from major clients [4] - Over 800 institutions have conducted research on A-share companies this week, with notable interest from CITIC Securities and Guotai Junan Securities [4] - Fund companies such as Bosera and GF Fund have shown strong interest in Daikin Heavy Industries, indicating a positive outlook on the company's performance [5] Group 4 - Daikin Heavy Industries has forecasted a net profit of 1.05 billion to 1.2 billion yuan for 2025, representing a year-on-year growth of 121.58% to 153.23% [5][6] - The company's growth is attributed to a rapid increase in project deliveries and higher product construction standards, which enhance value [6] - The provision of systematic services for offshore wind equipment construction, transportation, and localized installation is expected to further boost the company's profitability [6]

Core Viewpoint - Beijing's Economic and Information Technology Bureau has issued measures to promote the development and utilization of commercial satellite remote sensing data resources from 2026 to 2030, aiming to create an innovative service hub for satellite applications and generate new products, services, and business models in the field of remote sensing data [1][3][14]. Group 1: Strengthening Basic Capabilities - The measures emphasize the importance of strengthening diverse operational entities and encouraging mergers and acquisitions among satellite data-related companies to create globally competitive leaders in the industry [4][14]. - There is a focus on enhancing space infrastructure and supporting the planning and construction of commercial satellite constellations with clear commercial value and application prospects [4][18]. Group 2: Enhancing Common Support Capabilities - Support for the construction of multi-source satellite big data platforms is highlighted, aiming to integrate various data types and develop processing algorithms that combine remote sensing big data with artificial intelligence [2][5][19]. - The establishment of a digital foundation for urban spatiotemporal data is encouraged, promoting the integration of various information technologies to create comprehensive urban information models [6][19]. Group 3: Promoting Technological Innovation - The measures advocate for the development of key technologies related to satellite remote sensing data, including agile acquisition, efficient processing, and intelligent interpretation [8][22]. - There is a push for the establishment of innovation platforms and laboratories to foster collaboration between academia and industry, enhancing the development and application of cutting-edge technologies [8][22]. Group 4: Optimizing the Utilization Environment - The measures propose accelerating the assetization of satellite data and promoting its circulation and transaction to foster a healthy market for remote sensing data [9][23]. - Strengthening data security management systems is emphasized to ensure the safe acquisition, storage, transmission, and use of satellite data [10][24]. Group 5: Expanding Application Scenarios - The integration of artificial intelligence in the application of remote sensing data is encouraged, with support for developing large models tailored to specific industries [12][25]. - The measures aim to promote the large-scale application of remote sensing data in key sectors such as agriculture, urban governance, and disaster prevention [12][26]. Group 6: Support Measures - Coordination with national policies and major projects is emphasized to facilitate the implementation of significant satellite remote sensing data projects [13][27]. - Financial support mechanisms are proposed to encourage investment in high-quality remote sensing data projects across various districts [13][27].