近日，国家金融监督管理总局重庆监管局行政处罚信息公示列表显示，因相关贷款业务管理不审慎，相 关票据业务、信用证业务审查不审慎 ，富滇银行股份有限公司重庆分行被罚款180万元，相关责任人汤 海翔被警告。 公司官网显示，富滇银行品牌创立于1912年，是拥有百年历史的老字号银行品牌。2007年12月，富滇银 行在原昆明市商业银行基础上重组成立，是云南省唯一的省属城市商业银行。截至2024年12月末，富滇 银行资产规模4059亿元，193家营业机构遍布云南省和重庆市，与老挝外贸大众银行合资设立老中银 行，是全国第一家在境外设立合资银行的城市商业银行。2025年，富滇银行实现净利润9.57亿元，同比 增长8.44%。 2025年7月，富滇银行在官网发布公告，寻找43位长期失联股东，轰动一时。这43名失联股东，包括34 名个人股股东和9名法人股股东，他们的入股时间大多是1996年12月31日，而他们的来源，正是富滇银 行改制过程中合并的多家城市信用社，如老年信用社、经济信用社、联发信用社等等。随着城市信用社 改制并入富滇银行，部分股东因为手续不全、联系方式更迭等原因，逐渐与银行失去了联系。 2025年9月份，富滇银行两名 ...

Core Insights - The rise of "emotional economy" reflects a significant shift in consumer behavior, where young people are increasingly willing to pay for happiness and emotional satisfaction, indicating a transformation in consumption logic from "product-centered" to "people-centered" [5][11] Group 1: Emotional Consumption Trends - Over 90% of young people recognize the importance of emotional value, with 46.8% considering it a remedy for stress and anxiety [4] - The popularity of "blind boxes" and merchandise related to anime and gaming illustrates the trend of consumers seeking joy and emotional fulfillment through purchases [3][4] - The "ticket economy" is emerging, where concert tickets can unlock discounts on related services, enhancing the overall consumer experience [4][8] Group 2: Market Growth and Economic Impact - The emotional consumption market in China reached 2.72 trillion yuan in 2025, projected to exceed 4.5 trillion yuan by 2029 [6] - Companies like Pop Mart have seen significant financial success, with revenue of 138.8 billion yuan and net profit of 47.1 billion yuan in the first half of 2025, surpassing the entire revenue of 2024 [7] - The rise of emotional consumption is driving the growth of niche markets, creating billion-dollar opportunities in sectors like trendy toys and entertainment [8] Group 3: Regional Development and Strategic Focus - Cities like Shenzhen are prioritizing the development of emotional economy concepts such as "ticket economy" and "self-pleasure economy" in their government work reports, indicating a strategic focus on enhancing consumer experiences [9][10] - Shenzhen's demographic advantages, including a young population with high spending power, position it well to capitalize on the emotional economy [10][11] - The city's plans to expand its commercial landscape and enhance consumer engagement through innovative marketing strategies reflect a commitment to fostering a vibrant consumption ecosystem [11]

线下客流明显增加 在梅林路贵州茅台专卖店，李店长表示，1月以来到店咨询飞天53%vol 500ml贵州茅台酒及其往年 酒的客流明显增加，与平时相比增加了两到三成，消费者普遍反映"一瓶难求"。"我们根据实际情况进 行了购酒赠送礼物，满足消费者需求。"李店长说，随着在平台抢到茅台马年生肖酒前来线下店面提货 的顾客增多，店里其他不同茅台产品也热销了起来。 春节白酒迎来传统旺季，i茅台上线月余依然"一瓶难求" 线下经销商"店里客流明显增长" 【中国白酒网】正值春节白酒消费传统旺季，近日，记者走访调研发现，深圳唯一茅台自营门店、 经销商专卖店等均出现供不应求的态势，飞天53%vol 1000ml贵州茅台酒、53%vol 500ml贵州茅台酒 （精品）等产品在线下渠道持续热销，咨询量也显著增加。 茅台市场热度的背后，是其市场化转型的精准发力。"i茅台"平台自1月1日上线飞天茅台以来新增 用户628万，成交订单超212万笔。这对白酒销售市场带来怎样新的变化？白酒行业又将带来怎样的深远 影响？ 位于福田的深圳唯一贵州茅台自营门店，一位消费者表示，这是他今年第一次在平台上下单购买茅 台生肖酒，飞天茅台酒太难抢了。有消费者在店中 ...

根据美国国会众议院2月3日通过的拨款法案，国土安全部的临时拨款将于2月13日到期。美国参议员们2月12日将就国土安全部拨款法案进行投票。知情人 士称，一旦该法案不可避免地失败，共和党人计划尝试通过至少一项持续拨款决议。共和党人希望通过一项为期四到六周的临时拨款法案，但尚未最终决 定当日将尝试通过哪项法案。然而，他们需要参议院民主党人的支持才能推进任何此类措施，而少数党民主党2月11日表示，他们无意就临时拨款法案进 行合作。 当地时间2月12日，记者获悉，由于移民执法问题陷入政治僵局，临时拨款到期，美国国土安全部将于2月13日晚停摆。美国国会下周休会，目前尚无法预 测停摆会持续多久。 ↓↓↓ 当地时间2月10日，美国众议院民主党领袖杰弗里斯抨击白宫就移民与海关执法局改革提出的替代方案，称其"严重不足"且缺乏诚意。杰弗里斯表示白宫 方面拒绝接受一系列限制移民执法人员行动的措施，例如拘留中心改革、独立调查等，他坚决反对通过持续拨款决议。 编辑黎莉责编李耿光校审谭录岗 ...

2月12日晚间，申科股份公告称，为保障公司董事会规范运作，自本公告披露之日起，由公司董事长尤永强代行董事会秘书职责，公司将按照相关规定尽 快完成新任董事会秘书的选聘工作。 在此之前，申科股份董事会于2025年11月13日收到董事会秘书陈兰燕的书面辞职报告，辞职后陈兰燕不再担任公司任何职务。申科股份表示，为保证董事 会工作的正常进行，在公司董事会秘书空缺期间，由第六届高级管理人员副总经理何铁财代行董事会秘书职责。 鉴于公司控股股东、实际控制人发生变更，申科股份董事会提前完成换届选举，自2025年12月19日起，改由公司总经理宋晓明代行董事会秘书职责。 上述高级管理人员累计代行董事会秘书职责时间已满三个月。根据《深圳证券交易所股票上市规则》相关规定，公司董事会秘书空缺期间超过三个月的， 董事长应当代行董事会秘书职责，并在代行后的六个月内完成董事会秘书的聘任工作。 二级市场上，截至2月12日收盘，申科股份跌0.53%，报16.79元/股，总市值25.18亿元。 | 今 开 16.87 最 高 17.00 | | --- | | 昨 收 16.88 最 低 16.72 | | 成交额 3675.52万 总市值 25. ...

人大代表建议打造深圳湾大街特色商圈，推出"深圳智造·全球体验港" 深圳商报记者 任建新 作为粤港澳大湾区的核心引擎，深圳正以更实的步子推动跨境旅游与消费高质量发展。在近日深圳市两 会上，多位市人大代表把目光投向深港口岸经济带建设，围绕跨境游便利化、支付环境优化、文旅资源 整合等关键问题提出建议，直面当前深港人员往来中的"堵点""麻烦事"，提出用市场化、法治化、国际 化办法营造一流口岸营商环境，助力深圳朝着世界级旅游目的地和国际消费中心城市迈进。 优化支付环境 给跨境游再"添把火" 口岸是跨境游的"第一站"，其营商环境直接关系到游客的出行体验与城市的国际形象。深圳政府工作报 告显示："深圳口岸年出入境人次增至2.73亿、创历史新高，外国人入境数连续2年保持全国城市第 二。" 其中罗湖、福田等陆路口岸，堪称深港往来的"流量大门"——既要承接日常通勤的"早高峰大军"，又要 接待商务出行的"精英群体"，还要扛下跨境旅游消费的"热闹场面"。随着香港与内地全面通关，加 上"港车北上""粤港跨境高铁""免签朋友圈扩容""离境退税"等政策密集落地，深圳跨境游彻底"火出 圈"。 不过，跨境游热闹的背后，深港口岸也存在挡住消费劲 ...

Core Viewpoint - The A-share market is expected to experience its first wave of upward momentum in the Year of the Horse, with optimism surrounding sectors such as the AI industry chain, space photovoltaics, and non-bank financials [1][2]. Group 1: Market Timing - The spring market rally is anticipated to begin in February, historically the strongest period for such movements, with a 100% probability of small-cap indices rising between the Spring Festival and the National People's Congress [1]. - Previous instances of early spring rallies occurred during economic upturns or policy shifts, with notable years being 2013, 2014, 2015, and 2020 [2]. Group 2: Market Conditions - The release of annual report forecasts has alleviated negative fundamental disturbances, with a record high of companies reporting low expectations or losses in 2025 [2]. - As negative financial news is digested, the market is expected to be in a better position starting in February, allowing for a more favorable trading environment [2]. Group 3: Investment Strategy - The correlation between spring rallies and corporate performance is strong, with recommended sectors including the ByteDance industry chain, space photovoltaics, and non-bank sectors such as brokerage and insurance [2]. - Other sectors to consider for investment include optical modules, semiconductors, humanoid robots, chips, PCBs, and innovative pharmaceuticals, with additional tracking suggested for metals, satellites, storage, chemicals, and power grids [2].

Group 1 - The core focus for investment in the upcoming year includes three main areas: domestic AI ecosystem, innovative pharmaceuticals, and commercial aerospace [1][2] - The domestic AI industry is expected to replicate the growth trajectory seen overseas, with significant advancements in large model technology and semiconductor manufacturing [1] - The AI industry chain is anticipated to strengthen progressively, with downstream sectors centered around large models and cloud computing, and upstream sectors including AI chips, storage, semiconductor manufacturing, equipment, and materials [1] Group 2 - The innovative pharmaceutical sector has shown explosive growth over the past 2-3 years, despite a recent pullback due to valuation pressures; companies with international capabilities are seen as good investment opportunities [2] - The commercial aerospace industry is expected to accelerate commercialization over the next 5-10 years, driven by breakthroughs in rocket recovery and low-orbit satellite technologies, making it a sector worth close attention [2]

Core Viewpoint - The Hong Kong stock market is expected to continue the trends of 2025 into 2026, which may be a "reconstruction year" [2][3] Investment Focus Areas - The company is optimistic about three main sectors: 1. Technology sector, focusing on internet, electronic semiconductors, and innovative pharmaceuticals [2][4] 2. Upstream resource commodities, such as oil and coal, which may present good investment opportunities [2][5] 3. Outbound enterprises, with many globally competitive companies in the Hong Kong stock market worth attention [2][6] Market Trends and Variables - In the first half of 2026, the market is likely to favor strong performers, with domestic demand undergoing structural adjustments and the U.S. continuing its monetary easing [3][4] - Two key variables to monitor in the second half of 2026 include: 1. Stability of housing prices in first-tier cities, which could lead to valuation recovery in undervalued sectors like consumption, building materials, and real estate [4] 2. Potential inflation rebound and interest rate hikes following the U.S. midterm elections, which could impact global assets [4] Technology Sector Insights - The technology sector is expected to benefit from global capital and talent influx, with a focus on AI, semiconductors, and energy supply chains [5][6] - The "sell shovels" strategy is recommended, focusing on essential components for AI, such as domestic semiconductors and energy infrastructure [5] Upstream Resource Outlook - The company has maintained a positive outlook on upstream resource commodities for several years, anticipating opportunities in oil and coal if the Federal Reserve lowers interest rates and global industrialization continues [5][6] Outbound Enterprises Potential - Outbound enterprises are seen as a concentrated investment opportunity, with many capable of thriving beyond single market cycles and expected to grow in the future [6][7]

Group 1 - The core viewpoint is that the investment landscape is expected to diversify, with sectors such as non-ferrous metals, electric power equipment, and chemicals being highlighted for potential opportunities [1] - Non-ferrous metals and AI were the standout sectors in the past year, and as market valuations adjust, other industries are becoming more attractive, leading to a more balanced A-share market [1] - The non-ferrous metals sector remains appealing due to global demand and value reassessment, while electric power equipment, chemicals, and aviation are also worth monitoring for their growth potential [1] Group 2 - Investment success relies not only on the speed of information acquisition but also on the depth of understanding, requiring a balance between boldness in rising markets and a stable mindset throughout cycles [2] - The goal is to achieve optimal investment decisions based on rigorous research, focusing on long-term growth potential, reasonable valuations, and controllable risks to deliver sustained returns for investors [2]