天眼查工商信息显示，近日，宜宾凯翼汽车有限公司发生工商变更，新增中国信达旗下天津信凯企业管 理合伙企业（有限合伙）为股东，同时，注册资本由约47.27亿人民币增至约60.67亿人民币，增幅约 28%。 宜宾凯翼汽车有限公司成立于2014年1月，法定代表人为高雷，经营范围包括汽车整车及零部件技术开 发与咨询服务、汽车及零部件生产、汽车及汽车零部件销售等。股东信息显示，该公司由宜宾市汽车产 业发展投资有限责任公司、奇瑞汽车股份有限公司、四川省宜宾普什集团有限公司及上述新增股东共同 持股。 ...

Group 1 - The establishment of Guodian Investment (Tianjin) Energy Co., Ltd. has been officially registered, with a legal representative named Peng Wansheng [1] - The registered capital of the company is 200 million RMB, indicating a significant financial commitment to its operations [1] - The company's business scope includes investment activities using its own funds, energy management services, power generation technology services, information consulting services, information system integration services, information technology consulting services, industrial internet data services, and wind power technology services [1] Group 2 - The company is wholly owned by State Power Investment Corporation Tianjin Electric Power Co., Ltd., reflecting a strong backing from a major state-owned enterprise [1]

天眼查工商信息显示，近日，交通银行（601328）（601328）发生工商变更，注册资本由约742.6亿人 民币增至约883.6亿人民币，增幅约19%。 交通银行股份有限公司成立于1987年3月，法定代表人为任德奇，经营范围含吸收公众存款，发放短 期、中期和长期贷款，办理国内外结算，办理票据承兑与贴现，发行金融债券，代理发行、代理兑付、 承销政府债券等。股东信息显示，该公司由中国证券金融股份有限公司、首都机场集团有限公司、香港 中央结算有限公司等共同持股。 ...

天眼查工商信息显示，近日，今日头条有限公司发生工商变更，涂晴卸任法定代表人、经理、董事，由 朱晨明接任。 该公司成立于2016年8月，注册资本1亿人民币，经营范围含技计算机技术培训、计算机系统服务、数据 处理、基础软件服务、应用软件服务、从事文化经纪业务、互联网信息服务等。股东信息显示，该公司 由抖音有限公司全资持股。 ...

为配合相关调整，呼维军已辞任执行董事及董事会薪酬与考核委员会委员，但仍担任公司附属公司新特 硅基新材料有限公司董事兼总经理。 为填补杨晓东辞职所带来的职位空缺，南新建被委任为总经理并被提名为执行董事。同时，经董事会会 议审议批准，黄汉杰被任命为董事会战略委员会主席，杨晓东为战略委员会成员，自2026年1月5日起生 效。 新特能源(01799)发布公告，因工作调整，自2026年1月5日起，杨晓东辞任公司总经理职务，辞任后仍 担任董事职务，但由执行董事调任为非执行董事，除此之外，杨晓东将在公司控股股东特变电工 （600089）中担任管理职务。 ...

来源：中国能源网 大同证券近日发布煤炭行业周报：炼焦煤供需结构改善，价格稳中有升。炼焦煤本周价格分化，优质煤 种涨幅显著；库存中低位与供给收缩形成支撑，叠加冬储补库需求释放，预计价格窄幅震荡、稳中有 撑，优质煤种弹性更强。 权益市场涨跌互现，煤炭跑输指数。A股日均成交额2.13万亿元维持高位，但主要指数回调，情绪转向 高位震荡。商业航天指数、低空经济指数延续政策催化热度，受益于上交所《商业火箭企业适用科创板 第五套上市标准指引》落地及航天发展、中国卫星等龙头股持续活跃；半导体材料、电子元器件、有色 金属等前期强势板块呈现技术性回调，受全球半导体库存调整及消费电子需求预期偏弱影响；煤炭板块 周跌0.74%，延续调整。 综合来看，动力煤本周各环节价格止跌回升，后续低温天气将推升供暖需求，叠加供给收缩、政策托底 预期，煤价有望企稳回升。炼焦煤本周价格分化，优质煤种涨幅显著；库存中低位与供给收缩形成支 撑，叠加冬储补库需求释放，预计价格窄幅震荡、稳中有撑，优质煤种弹性更强。二级市场方面，A股 日均成交额2.13万亿元维持高位，但主要指数回调，情绪转向高位震荡。商业航天指数、低空经济指数 延续政策催化热度，受益于上交所 ...

Group 1: Precious Metals - The precious metals sector is experiencing a correction due to the CME raising margin requirements, leading to a decrease in speculative sentiment and a drop in prices for silver, platinum, and palladium, with gold also following suit [1] - Short-term outlook remains positive for precious metals, driven by potential political events in the Americas around New Year's that may trigger safe-haven demand, alongside inflows into ETFs due to interest rate cuts [1] - Long-term view suggests that the process of de-dollarization will continue, and investors are encouraged to hold positions despite market volatility [1] Group 2: Copper - Copper prices have risen, with a supply-demand tightness expected in 2026 due to lowered production forecasts from Freeport and Teck Resources, alongside anticipated increases in U.S. government spending [2] - The recommendation is to buy on dips, as current adjustments in copper prices present buying opportunities [2] Group 3: Aluminum - The aluminum sector is expected to benefit from the implementation of a national subsidy plan in 2026, which aims to stimulate demand for consumer goods [2] - Supply disruptions are anticipated due to maintenance at the Mozal aluminum plant, while demand is constrained by high prices and environmental production limits [2] - Overall, the recommendation is to buy aluminum and aluminum equities on dips, given the expected supply disturbances and potential demand growth [2] Group 4: Cobalt - Cobalt prices have increased across the board, with significant rises in electrolytic cobalt and other cobalt products due to tight supply conditions and increased trading activity [3] - The domestic raw material supply remains structurally tight, providing solid support for prices [3] Group 5: Lithium - Lithium prices have surged, driven by favorable signals from domestic new energy vehicle subsidies and anticipated production resumption from major suppliers [3] - The recommendation is to buy on dips, as the market is expected to maintain a downward inventory trend amid stable demand [3] Group 6: Investment Recommendations - Companies to watch include Xingye Silver Tin, Xiyu Co., Huaxi Nonferrous, New Jinlu, Dazhong Mining, Guocheng Mining, Zhongkuang Resources, Shengda Resources, Chifeng Gold, Zijin Gold International, Zhaojin Gold, Shenhuo Co., and Zijin Mining [4]

天眼查工商信息显示，近日，西部航空有限责任公司发生工商变更，注册资本由约14.9亿人民币增至约 30.4亿人民币，增幅约104%，同时，新增重庆盛翱鸿巍企业管理合伙企业(有限合伙)、重庆瀚翼盛航企 业管理合伙企业(有限合伙)为股东。 西部航空有限责任公司成立于2007年3月，法定代表人为王科，经营范围含国内航空客货运输业务、至 周边国家的国际航空客货运输业务、餐饮服务、住宿服务、食品销售、出版物零售、航空公司间的代理 业务、与航空运输业务有关的服务业务等。股东信息显示，该公司现由重庆西部航空控股有限公司、海 航航空集团有限公司、海南航空控股股份有限公司及上述新增股东等共同持股。 ...

Core Viewpoint - Jiangsu Pacific Quartz Co., Ltd. (referred to as "the Company") and its subsidiary Lianyungang Qiangbang Quartz Products Co., Ltd. have been involved in a legal case regarding the infringement of trade secrets, resulting in a fine of 2.7 million RMB for Qiangbang [1][2]. Group 1: Legal Issues - Qiangbang was convicted of trade secret infringement, leading to a fine of 2.7 million RMB, while individual defendants received prison sentences and additional fines [2]. - The Company emphasizes that it is the victim in this case and that its current operations remain normal, although the judgment is not yet final [2]. Group 2: Acquisition Details - In 2022, the Company planned to acquire 51% of Qiangbang for 51 million RMB, with an estimated valuation of 100 million RMB for Qiangbang based on financial metrics [1]. - The acquisition was intended to enhance the Company's production scale of high-purity quartz sand, but it has faced legal challenges due to Qiangbang's historical issues with trade secret violations [2]. Group 3: Financial Performance - The Company has experienced a decline in financial performance, with revenue and net profit for the first three quarters of 2025 reported at 753 million RMB and 135 million RMB, respectively, reflecting year-on-year decreases of 24.46% and 56.81% [3].

Core Viewpoint - December oil prices experienced fluctuations, with Brent crude averaging $61.6 per barrel, down $2.0 from the previous month, and WTI averaging $57.9 per barrel, down $1.6 [2] Supply Side - OPEC+ plans to fully exit the voluntary production cut of 2.2 million barrels per day from April to September 2025, and on September 7, 2025, it was decided to lift the voluntary production cut agreement of 1.66 million barrels per day reached in April 2023 within 12 months [2] - OPEC+ will increase production by 137,000 barrels per day from October to December 2025, but decided to suspend the production increase plan for the first quarter of 2026 due to seasonal reasons during the meeting on November 30 [2] Demand Side - Major international energy agencies project an increase in global crude oil demand of 830,000 to 1.3 million barrels per day in 2025, and an increase of 860,000 to 1.38 million barrels per day in 2026 [3] - According to OPEC, IEA, and EIA reports, crude oil demand for 2025 is estimated at 105.14, 103.85, and 103.94 million barrels per day, reflecting increases of 130, 83, and 114 thousand barrels per day compared to 2024 [3] Industry Outlook - The petrochemical industry in China is facing an overall surplus in refining capacity, with a focus on optimizing supply-side measures as outlined in the "Work Plan for Stable Growth in the Petrochemical Industry (2025-2026)" released by seven ministries in September 2025 [4] - The plan emphasizes strict control over new refining capacity and a scientific approach to the timing of new ethylene and paraxylene capacity releases [4] - The expected price range for Brent crude in 2026 is projected to be between $55 and $65 per barrel, while WTI is expected to be between $52 and $62 per barrel [4] - Recommended stocks include China National Offshore Oil Corporation (600938), China Petroleum (601857), Satellite Chemical (002648), and CNOOC Development (600968) [4]