美国在委内瑞拉采取军事行动并抓捕该国领导人马杜罗后，全球金融市场呈现出显著的分化走势。投资者迅速涌向贵金属寻求避险，推动黄金和 白银价格扭转此前跌势，而原油市场则因全球供应过剩的宏观背景，对这一地缘政治冲击表现出罕见的"淡定"。 1月5日周一，现货黄金价格在早盘上涨近1%，攀升至每盎司4370美元附近，此前一周金价曾下跌4.4%。白银价格大涨1.7%至每盎司74美元附近， 铂金和钯金也同步走升，现货钯金涨超过3%。市场对地缘政治不确定性的本能反应，使得贵金属再次成为资金的避风港。 与此同时，原油市场的反应却并未遵循传统的"战争溢价"逻辑，反而出现下跌。尽管美国总统特朗普证实美军实施了大规模打击，但由于国际能 源署（IEA）预测2026年全球原油供应将出现创纪录的过剩，加之委内瑞拉当前产量在全球占比极低，市场普遍认为这一事件难以改变油市供需 宽松的整体格局，油价并未出现恐慌性飙升。 据新华社和央视新闻报道，当地时间1月3日中午（北京时间1月4日凌晨），美国总统特朗普、国防部长赫格塞思在佛罗里达州海湖庄园就美军对 委内瑞拉动武、将委内瑞拉总统马杜罗控制并移送出境举行记者会。特朗普表示，美军在行动中使用了空中、陆地 ...

华见早安之声 请各位听众升级为见闻最新版APP，以便成功收听以下音频。 市场概述 2026年欧股开门红，美股反弹艰难，芯片股力撑但特斯拉拖累。 周五，泛欧股指收创历史新高，ASML涨7%。三大美股指仅纳指未收涨、盘中曾齐跌。特斯拉收跌2.6%，软件股抵消多数芯片股涨势，Salesforce跌超 4%；英伟达涨超1%，三星劲敌美光涨10%。白宫推迟对部分家庭用品征关税后，家庭用品零售商RH涨近8%。 中概指数周五涨超4%，百度大涨15%，阿里涨超6%。离岸人民币低开高走，盘中涨超百点、逾两年半来首次涨破6.97。 外交部发言人就美国强行控制委内瑞拉总统马杜罗夫妇答记者问。中方呼吁美方确保马杜罗总统夫妇人身安全，立即释放马杜罗总统和夫人，停 止颠覆委内瑞拉政权，通过对话谈判解决问题。 俄罗斯强烈敦促美国释放马杜罗。 伊朗最高领袖: 应与抗议者进行对话，但骚乱行径必须得到制止。特朗普威胁"干涉伊朗骚乱"，伊朗高官回应：美国干涉伊朗内部事务将"破坏整 个地区稳定"。 商品基准指数"重置"在即，面临抛售风险，金银开年"冲高回落"。 宇树科技澄清：我司未涉及申请"绿色通道"相关事宜，上市工作正常推进。 雷军260分钟"拆 ...

Core Viewpoint - Jinma Amusement is undergoing a strategic transformation to integrate AI robotics into its business model, collaborating with partners to enhance its offerings in the cultural tourism sector [1][2]. Group 1: Strategic Collaboration - Jinma Amusement has partnered with Lehua Entertainment, Weifeng Electronics, Beifeng Technology, and Maoxiao Bole to establish a market-oriented operational platform and joint ventures [1]. - The collaboration aims to leverage each partner's strengths in cultural tourism technology, entertainment IP, smart products, and distribution channels to advance the development and application of intelligent robots in cultural tourism [1][2]. Group 2: Technological Adaptation - Jinma Amusement has developed core technologies that can be adapted for the production of embodied intelligent robots, with a strong overlap in target customer groups and application scenarios with its existing business [2]. - The company has initiated the mass delivery of over 1,000 embodied intelligent robots, which will serve various environments such as theme parks, commercial districts, and cinemas [2]. Group 3: IP Integration - Lehua Entertainment is enhancing product value through IP empowerment, addressing consumer motivations for purchasing [2]. - The collaboration has led to the establishment of the "YHT Smart Adoption Store" in Beijing, featuring humanoid robots that provide services and promote products from the "WAKUKU" IP [4]. Group 4: Market Expansion - Lehua Entertainment plans to open the first batch of 50 stores starting in January this year, expanding its market presence [5]. - The integration of IP embodiment with cultural tourism scenarios is showing promising prospects, as demonstrated by Disney's development of a robot based on the character "Olaf" from "Frozen" [6][7]. Group 5: Product Development - Jinma Amusement has outlined ten product series based on market demand, including sales series, guided tours, and various types of service robots [8]. - The company is focusing on creating immersive experience venues that combine service robots, performance robots, and parade robots with IP elements [8].

1月4日，据网易科技援引知情人士称宇树科技A股上市的绿色通道被叫停。 所谓IPO绿色通道，指为特定类型企业开辟的优先审核、快速放行的上市通道，显著缩短企业从申报到 上市的周期。 目前该消息尚未获得宇树科技的证实。 值得一提的是，早在2025年12月中旬，市场便已传播该消息。 随着2025年收官，宇树科技的招股书仍未挂网在一定程度上印证了该消息的真实性。 参照其他IPO项目的辅导-受理的时间线来看，宇树科技的IPO进展确实不算顺利。 2025年12月23日，保荐机构中金公司向北京证监局提交蓝箭航天IPO辅导工作完成报告后，其IPO申请 便获得受理，前后间隔仅1周。 去年9月，宇树科技曾在国外社交平台上发布上市申请递交的预计时间为2025年的10月至12月。 此后宇树科技的IPO辅导确实得到推动，保荐机构中信证券早在2025年11月15日便向证监局递交了IPO 辅导工作完成报告后，但至此之后其IPO便无新进展。 不过据信风获悉，绿通机制目前并没有受到实质性影响。 "绿色通道机制目前仍在实施当中，我们部分项目已经走了这个通道。"广东一位投行人士彼时告诉信 风。 从行业情况来看，机器人征战A股IPO确实不顺利。 20 ...

Core Insights - Elon Musk has bet Tesla's future and personal wealth on the ambitious vision of the humanoid robot "Optimus," claiming it could generate "unlimited" revenue and become "the biggest product ever" [1] - However, there is a significant gap between Musk's vision and the current reality, as Optimus often relies on remote control by engineers and faces severe technical challenges in simulating human dexterity [1][3] Group 1: Current Challenges and Technical Limitations - During recent demonstrations, Optimus robots were not fully autonomous, with some interactions being remotely controlled by engineers wearing motion capture suits [1][3] - The project is still heavily dependent on human assistance, with engineers required to monitor and operate the robots in real-time, indicating limitations in autonomous capabilities [3] - Experts highlight that creating robotic hands with human-like dexterity involves challenges beyond just mechanical structure, including control systems and environmental perception [3][4] Group 2: Strategic Shift and Market Position - Tesla's strategic shift towards Robotaxi and humanoid robots comes as its core automotive business faces pressure, with a reported 9% decline in annual vehicle sales for 2025 and a 16% drop in Q4 [2] - Musk's new compensation plan aims for Tesla's market value to reach $8.5 trillion in 10 years, with a target of selling at least 1 million robots [2][6] - Despite long-term interest in the robotics industry, there are internal disagreements regarding the practicality of humanoid robots compared to specialized automation equipment [2][4] Group 3: Market Valuation and Analyst Perspectives - Analysts are cautious about the valuation of Tesla's robotics ambitions, with some excluding Optimus from their financial models due to the nascent stage of the industry [6] - Morgan Stanley's analyst predicts the global humanoid robot industry could reach $7.5 trillion by 2050, suggesting significant revenue potential for Tesla if it captures market share [6] - ARK Invest, despite forecasting a rise in Tesla's stock price, has not included Optimus in its 2029 financial model, citing the need for more time for commercialization [6] Group 4: Future Development and Commercialization - Tesla has postponed the initial timeline for deploying Optimus in its factories and is currently developing a third generation of the robot [7] - Musk markets Optimus as a "household helper," akin to characters from "Star Wars," but substantial breakthroughs in autonomy and practical engineering are necessary for profitability [7]

Group 1: CES 2026 Overview - The 2026 Consumer Electronics Show (CES) will take place from January 4 to 9 in Las Vegas, serving as a significant platform for tech companies to unveil new products, including those in concept stages [1] - The strategies of chip giants will show notable divergence at CES 2026, with NVIDIA shifting focus away from traditional consumer graphics cards [1] Group 2: Robotics and AI Developments - 2026 is seen as a pivotal year for humanoid robots transitioning from demonstration to practical applications, emphasizing cost reduction and real-world validation [2] - The XR market is undergoing a "digestive period" following the release of Apple Vision Pro, with CES 2026 marking the beginning of a counterattack from the Android camp [3] Group 3: Automotive Industry Innovations - The automotive sector is experiencing a deep transformation in its technological architecture, with a clearer competitive landscape for smart driving chips [4] - Key players like NVIDIA, Qualcomm, and Mobileye are competing in the chip arms race, with NVIDIA leading the high-end L4 market with its Thor chip [8] Group 4: Company-Specific Strategies - NVIDIA's anticipated RTX 50 Super series graphics cards may be delayed due to high GDDR7 memory prices and supply shortages, with CEO Jensen Huang focusing on "Physical AI" to extend AI computing power into robotics and industrial applications [5] - AMD is adopting a steady upgrade strategy, planning to launch the Ryzen 9000 series for desktops and Ryzen AI 400 series for mobile devices [5] - Intel is set to release the Intel Core Ultra Series 3, which includes approximately 14 SKUs, aiming to alleviate market concerns regarding its advanced process execution capabilities [5] Group 5: Chinese and Korean Market Dynamics - Chinese companies like Yushu and Zhiyuan are leading in cost control, with Yushu expected to showcase its G1 mass production version [5] - South Korea is presenting the "K-Humanoid" alliance, led by Rainbow Robotics, showcasing industrial-grade humanoid robots and demonstrating ambitions for full supply chain integration [5] Group 6: Consumer Electronics Trends - Smart home devices, particularly robotic vacuum cleaners, are entering a phase of "micro-innovation," focusing on enhancing autonomous service capabilities rather than just technical specifications [5] - Lenovo is exploring radical form factor innovations with products like the ThinkBook Plus Gen 7 Auto Twist and ThinkPad Rollable XD, addressing the balance between large screens and portability [6]

Core Insights - The article highlights the alarming trend of private equity firms in the U.S. engaging in self-serving behavior by selling assets to themselves at record speeds, raising concerns about potential conflicts of interest and the sustainability of this practice [1][2][3]. Group 1: Industry Trends - Private equity firms are expected to raise an astonishing $107 billion through continuation vehicles by 2025, significantly up from $70 billion last year, indicating a growing reliance on internal funding mechanisms [1]. - Approximately 20% of private equity exits this year involved continuation funds, a notable increase from 12-13% in previous years, showcasing a shift in exit strategies amid frozen market conditions [3]. - Major players in the private equity sector, such as PAI Partners and Vista Equity, are increasingly utilizing continuation funds to retain core assets rather than seeking external buyers, transforming this strategy from a last resort to a preferred method [4]. Group 2: Conflicts of Interest - The self-dealing nature of these transactions raises significant concerns about pricing power, as private equity firms act as both buyers and sellers, potentially leading to undervaluation of assets to benefit new funds [5][6]. - The Abu Dhabi Investment Authority has initiated lawsuits against firms like Energy & Minerals Group for allegedly undervaluing assets in self-sales, highlighting the growing frustration among limited partners regarding valuation manipulation [5][6].

见闻财经日历 WSCN Economic Calendar v 华尔街见间 | 时间 | | 内容 | 预期 前值 | | | --- | --- | --- | --- | --- | | 1月5日 周一 | | | | | | 数据 | 09:45 | 中国 12月RatingDog服务业PMI | 52.1 | | | 23:00 | | 美国 12月ISM制造业指数 | 48.4 48.2 | | | 事件 | 待定 | 马杜罗可能于5日在美国纽约联邦法院出庭 | | | | 1月6日 周二 | | | | | | 数据 | | 元 | | | | 05:00 | | "科技春晚" CES媒体日,英伟达CEO发表演讲 | | | | 07:00 | | "科技春晚" CES媒体日，英特尔发布会 | | | | 10:30 | | "科技春晚" CES媒体日, AMD苏姿丰发表演讲 | | | | 事件 | 待定 | 联想集团将在1月6日与英伟达联合发布一款企业级AI产品 | | | | 待定 | | 泽连斯基宣布乌美将于6日举行新一轮会谈 | | | | 待定 | | 国际消费电子展(CES) 4日至 ...

高盛在最新研报中指出，百度旗下芯片部门昆仑芯已正式递交香港上市申请，这标志着百度解锁资产价 值迈出了坚实的一步。 据追风交易台，1月3日，高盛发布最新研报认为，根据其核心测算显示，如果市场给予昆仑芯类似于寒 武纪的估值倍数（40倍市销率），百度持有的59%股权价值将高达220亿美元，惊人地相当于百度当前 总市值的45%。即便在保守估值下，这也代表着巨大的潜在上行空间。 昆仑芯分拆上市：解锁隐蔽价值的关键一步 百度已宣布，昆仑芯于2026年1月1日向香港联交所递交了上市申请。此次分拆将通过全球发售昆仑芯股 份的方式进行，包括香港公开发售以及向机构和专业投资者的配售。 对于投资者而言，最关键的信息在于股权结构的变化与控制权。高盛指出，截至2025年8月，百度持有 昆仑芯59%的控股权。在拟议的分拆完成后，百度预计昆仑芯将继续作为公司的子公司。这意味着百度 既能通过独立上市释放昆仑芯的市场价值，又能继续在其生态系统中保持对核心算力基础设施的控制。 外部销售占比： 高盛预测，进入2026年，昆仑芯的外部销售将迅速增长，占到云总销 售额的14%。 业务结构优化： 结合更具经常性和高附加值的订阅业务（据高盛估算接近云收入 ...

然而，对于特朗普描绘的能源宏图，路透社援引多位行业专家的分析指出，即便政权更迭，委内瑞拉石 油行业的复苏也绝非一日之功。从长期的投资不足到复杂的债务纠纷，美国石油巨头重返委内瑞拉面临 着"骨感"的现实挑战。 难以跨越的产能鸿沟 尽管特朗普承诺美国企业将迅速介入，但路透社分析认为，即便数十亿美元资金到位，委内瑞拉的原油 产量在未来数年内也难有实质性提升。 作为OPEC的创始成员国，委内瑞拉在1970年代的日产量曾高达350万桶，占当时全球产量的7%以上。 然而，自1999年以来，由于管理不善、缺乏投资以及国际制裁，该国能源基础设施严重恶化。目前其日 产量已降至约100万桶，且大部分为加工成本高昂、污染严重的超重质石油。 美国针对委内瑞拉的"闪击"行动不仅改变了该国的政治格局，更将全球最大原油储备国的能源命运推向 了风口浪尖。尽管美国总统特朗普宣称将由美国大型石油公司主导委内瑞拉石油产业的复苏，但业界普 遍认为，受制于基础设施溃败、法律风险及政治不确定性，该国原油产量的恢复将是一个漫长而艰难的 过程。 据新华社及央视新闻报道，特朗普证实美方已通过军事行动抓获委内瑞拉总统马杜罗，并宣布美国 将"管理"委内瑞拉直至实 ...