近日，奥运金牌得主、世界冠军张雨霏亮相在上海举行的第26届瑞银大中华研讨会（UBS Greater China Conference）。在一场炉边对话中，张雨霏回顾了她在高水平竞技背后多年的坚持，分享了心理素质在 赛场表现中的重要性，并探讨了如何通过持续学习和改进实现稳定发挥。 张雨霏是中国杰出的游泳运动员，主项为蝶泳。她在东京2020年奥运会上获得两枚金牌，其中包括女子 200米蝶泳金牌，并在巴黎2024年奥运会上获得多枚奖牌，进一步巩固了其在国际泳坛的领先地位。张 雨霏凭借其在国际游泳最高水平赛事中的稳定发挥和竞争实力备受泳坛认可。 张雨霏此次参与的瑞银大中华研讨会已连续举办26届，致力于为客户提供对中国经济与市场发展的前瞻 洞见。本届研讨会以"新前沿：识变局, 谋增长"为主题，汇聚了超过3,600名与会嘉宾以及300多家中国 领先企业代表， 围绕市场趋势、行业发展和长期机遇展开深入交流。 瑞银集团首席执行官安思杰（Sergio P. Ermotti ）与奥运金牌得主、世界冠军张雨霏在上海举办的第26 届瑞银大中华研讨会上合影。 借助张雨霏出席研讨会的契机，瑞银邀请了来自慈善合作伙伴的约200名学生与张雨 ...

Core Viewpoint - The resource sector has seen significant growth, with many resource-related funds doubling their net value over the past year, driven by strong performance in the non-ferrous metals sector and rising prices of gold and silver [1][2]. Group 1: Market Performance - The Shenyin Wanguo non-ferrous metals sector index surged by 89.38% in 2025, leading the A-share market [1]. - As of January 19, 2026, the number of public funds with a unit net value growth rate exceeding 100% reached 176, with 124 being actively managed equity funds [3]. - Among the doubling funds, a significant number are focused on resource sectors, particularly in non-ferrous metals and gold [2][3]. Group 2: Fund Strategies and Adjustments - Many fund managers adjusted their holdings in the fourth quarter based on fundamental changes and valuation considerations, with a focus on resource-related stocks [1][4]. - The Longcheng Value Selection fund achieved a net value growth rate of 105.16% over the past year, with a majority of its top holdings in non-ferrous metals [4]. - The China Europe Cycle Preferred fund reduced its holdings in traditional non-ferrous metals while increasing exposure to lithium and cobalt, reflecting a shift towards new energy resources [8]. Group 3: Future Outlook - Fund managers remain optimistic about the resource sector, citing factors such as global monetary easing, increased demand from AI data centers, and supply-side uncertainties as drivers for growth [9][10]. - The China Europe Resource Selection fund manager highlighted copper, aluminum, lithium carbonate, gold, and tungsten as the top five investment targets for 2026, while also considering opportunities in chemical and steel sectors [10].

Group 1 - A-shares showed resilience with the three major indices experiencing slight increases, with the Shanghai Composite Index up by 0.08%, the Shenzhen Component Index up by 0.7%, and the ChiNext Index up by 0.54% [2] - The precious metals sector saw a significant surge, with multiple stocks such as Sichuan Gold and Western Gold hitting the daily limit, as spot gold prices reached $4,830 per ounce, marking a 1.5% increase [2] - Semiconductor stocks strengthened, with companies like Longxin Zhongke and Dagang Co. also hitting the daily limit [3] Group 2 - Lithium mining concept stocks rebounded, with Shengxin Lithium Energy and Dazhong Mining reaching the daily limit [4] - In contrast, sectors such as coal, retail, liquor, and banking experienced notable declines [5] - A significant increase in trading volume was observed in multiple broad-based ETFs, with the Shanghai 50 ETF achieving a transaction volume of 16.9 billion yuan, the highest in a decade [6] - The transaction amounts for various ETFs, including Huatai-PineBridge and Jiashi, exceeded 10 billion yuan [7] - Additionally, there was a sudden spike in the petrochemical ETF, which appeared to be a case of erroneous trading [8]

【导读】中国农业银行深圳市分行原党委副书记、副行长王国彪被开除党籍和公职 金融反腐最新消息来了！ 1月21日，中央纪委国家监委官网通报：中国农业银行深圳市分行原党委副书记、副行长王国彪被开除党籍和公职。 日前，经中央纪委国家监委批准，中央纪委国家监委驻中国农业银行纪检监察组、山东省菏泽市监委对中国农业银行深圳市分行原党委副书记、副行长王 国彪严重违纪违法问题进行了立案审查调查。 经查，王国彪存在以下问题： 中国基金报记者晨曦 ●丧失理想信念，背弃初心使命，履行全面从严治党主体责任不力，对抗组织审查，串供，转移、隐匿证据，搞迷信活动； ●无视中央八项规定精神，接受可能影响公正执行公务的宴请；违反组织原则，不按规定报告个人有关事项，利用职权和职务上的影响违规为他人谋取人 事利益； ●廉洁底线失守，收受可能影响公正执行公务的礼品、礼金、消费卡，违规借用管理对象钱款，违规收受他人大额钱款； ●利用职务上的便利，在招标采购、工程承揽方面为他人谋取利益并非法收受巨额财物。 通报指出，王国彪严重违反党的政治纪律、组织纪律、廉洁纪律，构成严重职务违法并涉嫌受贿犯罪，且在党的十八大后不收敛、不收手，性质严重，影 响恶劣，应予严 ...

美国证券交易委员会（SEC）最新文件显示，伯克希尔或出售卡夫亨氏股份。截至目前，伯克希尔的持股比例为27.5%。卡夫亨氏此前宣布重组交易将于 2026年完成。 据媒体报道，"股神"巴菲特于2025年底退休，伯克希尔在其退休后会如何投资和运作受市场关注。 伯克希尔或出售卡夫亨氏股份 美东时间1月20日，卡夫亨氏向SEC提交招股说明书补充文件。文件显示，伯克希尔·哈撒韦公司伯对潜在转售（potential resale）其持有的3.254亿股股份事 宜进行了登记。 2013年，巴菲特的伯克希尔哈撒韦与私募3G Capital合作私有化亨氏公司，交易总价值达到280亿美元；2015年，巴菲特与3G推动亨氏与卡夫合并。卡夫 亨氏于2015年上市，2017年市值突破千亿美元后，股价整体延续跌势。 卡夫亨氏重组预计于2026年完成交易 2025年9月，卡夫亨氏发布公告称，公司将通过免税分拆的方式，拆分为两家独立上市公司。本次拆分旨在回应持续的业绩压力和行业变革。交易预计于 2026年下半年完成，需获得监管批准。 具体拆分方案如下：第一家公司Global Taste Elevation Co.（全球风味提升公司）将专注于酱 ...

Market Overview - The A-share market showed stability with the three major indices experiencing slight increases, with the Shanghai Composite Index rising by 0.08%, the Shenzhen Component Index by 0.7%, and the ChiNext Index by 0.54% [1] - A total of 3,096 stocks rose, with 88 hitting the daily limit up, while 2,197 stocks declined [1][2] Trading Volume and ETF Activity - The trading volume for the entire market reached 2,623.747 billion, with a total transaction volume of 147,027.5 million [2] - Notably, the trading volume of the CSI 50 ETF reached 16.9 billion yuan, marking a ten-year high [5] - Other ETFs, including the CSI 300 ETFs from Huatai-PineBridge, Harvest, and E Fund, also saw transaction volumes exceeding 10 billion yuan [5] Sector Performance - The precious metals sector saw a collective surge, with stocks like Sichuan Gold and Western Gold hitting the daily limit up, as spot gold prices rose to $4,830 per ounce, an increase of 1.5% [3] - Semiconductor stocks strengthened, with companies such as Loongson Technology and Dagang Co. also reaching the daily limit up [3] - Lithium mining stocks rebounded, with Shengxin Lithium Energy and Dazhong Mining hitting the daily limit up [4] ETF Incident - An unusual trading incident occurred with the Petrochemical ETF, which suddenly hit the daily limit up, indicating a potential erroneous trade [18][19]

美国证券交易委员会（SEC）最新文件显示，伯克希尔或出售卡夫亨氏股份。截至目前，伯克希尔的持股比例为27.5%。卡 夫亨氏此前宣布重组交易将于2026年完成。 据媒体报道，"股神"巴菲特于2025年底退休，伯克希尔在其退休后会如何投资和运作受市场关注。 美东时间1月20日，卡夫亨氏向SEC提交招股说明书补充文件。文件显示，伯克希尔·哈撒韦公司对潜在转售（potential resale）其持有的3.254亿股股份事宜进行了登记。 | Exhibit | | | --- | --- | | Number | Description | | ২.1 | Opinion of Skadden. Arps. Slate, Meagher & Flom LLP | | 23.1 | Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1) | | 104 | Cover Page Interactive Data File (formatted as inline XBRL). | 截至目前，伯克希尔是卡夫亨氏的最大股东， ...

【导读】瑞达期货拟斥资5.89亿元收购申港证券11.94%股权 "期证合作"再迎大动作！ 1月20日晚间，瑞达期货股份有限公司发布公告称，公司拟以自有资金5.89亿元购买申港证券合计11.94%的股权。 根据公告，本次交易分为两部分：一是向裕承环球市场有限公司购买其持有的申港证券8.1112%股权（对应3.5亿股），二 是向嘉泰新兴资本管理有限公司购买其持有的申港证券3.8239%股权（对应1.65亿股）。值得一提的是，裕承环球出让的股 权目前处于质押状态。 公告明确，该交易不构成关联交易或重大资产重组。瑞达期货与申港证券及其股东不存在关联关系。此外，本次交易仍需 取得中国证监会等相关部门的批准或核准。 对于本次收购，瑞达期货表示，为实现成为具有国际竞争力的衍生品投行的发展战略，公司积极寻找管理规范、优势互补 且经营良好的证券公司。 瑞达期货认为，通过股权收购，能有效整合证券公司与期货公司的业务资源，发挥协同效应，满足不同类别客户多元化的 需求，为客户提供全方位的风险管理、财富管理等综合金融服务。 资料显示，瑞达期货成立于1993年，是中国期货行业首批上市公司、深交所首家期货上市公司。 申港证券成立于2016 ...

2025年11月26日，韩国负责调查紧急戒严事件的特检组向法院求处韩德洙15年有期徒刑。特检方面认 为，韩德洙没有履行相应职责，未能牵制前总统尹锡悦专断行使权力，反而纵容推进紧急戒严，且韩德 洙反复翻供，态度始终不配合、毫无悔意，这些都应纳入量刑考量。 据韩媒报道，韩国首尔中央地方法院21日下午对韩国前总理韩德洙涉嫌参与内乱一案作出一审宣判，判 处韩德洙有期徒刑23年。 （原标题：快讯！韩国前总理韩德洙被判23年） 来源：中国新闻网 ...

Core Viewpoint - *ST Changyao (300391) is facing multiple risks of being delisted, including trading-related, financial-related, and major violation-related delisting risks, as its stock price has been below 1 yuan for 15 consecutive trading days [2][5]. Group 1: Stock Performance - On January 21, *ST Changyao's stock opened at 0.64 yuan per share, reaching a daily limit increase for the second consecutive trading day [2]. - The stock has experienced a 20.75% increase, with a trading volume of 517,000 shares and a total transaction amount of 31.99 million yuan [3]. - The stock price has been below 1 yuan for 15 consecutive trading days, and if it remains below this threshold for the next 5 trading days, it will be suspended from trading [2][4]. Group 2: Delisting Risks - The company is at risk of trading-related delisting due to its stock price being below 1 yuan and market capitalization below 300 million yuan for consecutive trading days [4]. - Financial-related delisting risks arise from the expectation that the company's audited net assets will be negative by the end of 2025, along with potential adverse audit opinions on financial reports [5]. - Major violation-related delisting risks are present as the company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected false reporting of financial data [5][6]. Group 3: Financial Irregularities - From 2021 to 2023, *ST Changyao's annual reports contained false records, inflating revenue by 215 million yuan, 284 million yuan, and 234 million yuan, which accounted for 9.12%, 17.57%, and 19.51% of the disclosed revenue respectively [6]. - The company also inflated total profit by 56.4 million yuan, 63.4 million yuan, and 43.7 million yuan during the same period, representing 35.62%, 88.23%, and 6.42% of the disclosed profit [6]. - Due to these financial discrepancies, the company may face major violation-related delisting if formal penalties are imposed [6].