Core Viewpoint - The lithium carbonate market is expected to experience a rebound in 2025, with prices showing a V-shaped recovery after hitting a low of 59,000 yuan/ton in June, eventually surpassing 130,000 yuan/ton by December, marking an increase of over 120% from the low point [1][2]. Price Trends - In early 2025, lithium carbonate prices fluctuated around 75,200 yuan/ton, dropping below 70,000 yuan/ton by the end of April and reaching a low of 59,000 yuan/ton in June [1]. - By July 2025, prices began to rebound, breaking through 65,000 yuan/ton on July 14, 70,000 yuan/ton on July 21, and closing at 76,680 yuan on July 24, eventually exceeding 120,000 yuan/ton by December 23 [2]. - The price increase is attributed to a combination of factors, including strong demand from the energy storage sector and a reduction in market inventory [2][3]. Demand and Supply Dynamics - The global demand for lithium carbonate is projected to reach 2 million tons by 2026, driven by the growth in electric vehicles and energy storage applications [6]. - The domestic market in China accounted for 63.3% of global power battery installations from January to October 2025, with significant contributions from leading companies [3]. - The new energy storage capacity in China exceeded 100 million kilowatts by September 2025, representing a growth of over 30 times compared to the end of the 13th Five-Year Plan [4]. Industry Performance - Companies in the lithium sector, such as Tianqi Lithium and Ganfeng Lithium, have seen significant stock price recoveries, with increases of over 160% and 173% respectively since their lows in April [3]. - Ganfeng Lithium reported a 364.02% year-on-year increase in net profit for the third quarter [3]. Future Outlook - The lithium market is expected to face uncertainties in 2026, with potential price corrections if demand from the energy storage sector does not meet expectations [7]. - The development of alternative technologies, such as sodium batteries, may introduce new dynamics to the market, although current production costs and scale are not yet comparable to lithium batteries [8].

0:00 这些会对很多传统行业，特别是银行、房地产建筑这些公司带来一些利好。这些板块目前的股票涨势和 估值，相对于科技板块，安全性更高。 智汇集团创始人及首席经济学家夏春：市场对AI（泡沫）的担心，会导致资金从一些科技企业流出， 回到非常传统的板块，比如偏消费类、偏美国银行等板块。这种结构性行情在美股、A股、港股都已经 发生。 ...

中经记者 郭阳琛 石英婧 上海报道 （梦洁股份生产线。受访者/图） 有近70年发展历史的家纺巨头——湖南梦洁家纺股份有限公司（以下简称"梦洁股份"，002397.SZ）"宫 斗大戏"还未落幕。 备受关注的是，梦洁股份近日宣布董事会开始换届，并对董事会进行"缩编"，拟将董事会成员人数由11 名调整至7名。此前公开举报梦洁股份董事长姜天武和董秘李军的陈洁未进入新一届董事候选人名单。 就在此前召开的梦洁股份第七届董事会第十五次(临时)会议上，姜天武、李军和陈洁再次爆发激烈争 吵。与此同时，被称为"持续异议董事"的陈洁第15次投出反对票，反对董事会席位缩减，并就姜天武、 李军的候选资格投出反对票。 对此，梦洁股份方面在公告中表示，姜天武为梦洁股份创始人，一直担任公司董事长，熟悉行业发展及 公司经营管理情况，此前处罚不会影响其担任董事职务，不会影响公司的规范运作。 据了解，陈洁由梦洁股份原控股股东长沙金森新能源有限公司（以下简称"长沙金森"）提名，于2023年 2月开始任职，预计将于2026年2月卸任。 日前，陈洁在接受《中国经营报》记者独家专访时表示，长沙金森原本计划在梦洁股份注入新能源相关 资产，"复刻"杉杉股份（ ...

与此同时，1月7日沪深两市成交额2.85万亿元，较上一个交易日放量476亿元，成交额连续2个交易日超 2.8万亿元。 在此火热行情之下，多家券商机构对2026年股票市场表现表达乐观预期。其中，中信证券预计，2026年 万得全A全年涨幅5%—10%。同时，科技主线或仍将表现，其中AI叙事将向纵深演绎，持续主导科技板 块价值重塑。 A股全年或上行VS宽基指数波动率下行 展望2026年全年，机构普遍看好A股市场。 中信证券认为，国际方面，2026年中美关系有望维持阶段性平衡。国内方面，"十五五"期间中国经济增 长中枢或达4.8%左右。 "我们认为，政策聚焦构建现代化产业体系，有望实现'一子落而满盘活'的效果，科技创新、产业升级 以及综合整治'内卷式'竞争有望取得显著成效。"中信证券展望2026年，预计中国宏观经济呈现结构分 化下的温和修复态势，全年经济增速或达4.9%，出口保持韧性，投资逐步回暖，商品消费短期承压。 中经记者 罗辑 北京报道 2026年1月7日，上证指数创下十四连阳，盘中触及4098.78点，极端逼近4100点整数关口。 在此判断下，A股市场表现方面，中信证券预计，2026年万得全A全年涨幅5%—1 ...

Core Viewpoint - The recent surge in gold prices is primarily driven by speculative funds, with expectations of a shift in Federal Reserve policy leading to lower real interest rates, thus reducing the holding costs of gold [3][4]. Group 1: Market Dynamics - As of January 7, 2026, the London spot gold price opened at $4,494.59 per ounce, with a monthly increase exceeding 9% [2]. - The relationship between gold prices and real interest rates is notably negative, with current economic indicators suggesting a weakening labor market and declining consumer confidence, which heightens expectations for Federal Reserve rate cuts [3]. - The lack of significant changes in fundamental factors indicates that the recent volatility in gold prices is largely driven by speculative trading rather than institutional investment [3][4]. Group 2: Central Bank Demand - Global central bank demand for gold remains robust, with a net purchase of 45 tons in November 2025, bringing total purchases for the year to 297 tons, primarily driven by emerging market central banks [4]. - The ongoing accumulation of gold reserves by central banks reflects a strategic shift away from reliance on a single reserve currency, enhancing gold's status as a "currency substitute" [4]. Group 3: Silver Market Influence - The silver market has experienced significant upward pressure, contributing to the rise in gold prices, with a notable shortage in silver delivery stocks since October 2025 [4][5]. - Increased speculative trading in the silver market may spill over into the gold market, further driving up gold prices in the short term [5]. Group 4: Future Outlook - Morgan Stanley maintains a bullish outlook for gold, projecting prices could reach $5,000 per ounce in 2026, supported by strong demand from central banks and investors [6]. - The anticipated demand for gold in 2026 is expected to average 585 tons per quarter, with central bank purchases projected at 755 tons, indicating a sustained interest in gold despite potential price corrections [6][7]. - The trajectory of gold prices will largely depend on the Federal Reserve's monetary policy, with a continued easing cycle likely to support gold investment demand [7].

Core Viewpoint - The recent surge in gold prices is primarily driven by speculative funds, with expectations of a shift in Federal Reserve policy leading to lower real interest rates, thus reducing the holding costs of gold [2][3]. Group 1: Market Dynamics - As of January 7, 2026, the London spot gold price opened at $4,494.59 per ounce, with a monthly increase exceeding 9% [1]. - The relationship between gold prices and real interest rates is notably negative, with current economic indicators suggesting a weakening labor market and declining consumer confidence, which heightens expectations for Federal Reserve rate cuts [2][3]. - The lack of significant changes in fundamental factors indicates that the recent volatility in gold prices is largely driven by speculative trading rather than institutional investment [2]. Group 2: Central Bank Demand - Global central bank demand for gold remains robust, with a net purchase of 45 tons in November 2025, bringing the total for the year to 297 tons, primarily driven by emerging market central banks [3]. - The ongoing accumulation of gold reserves by central banks reflects a strategic shift away from reliance on a single reserve currency, enhancing gold's status as a "legal tender substitute" [3]. Group 3: Silver Market Influence - The recent bullish trend in the silver market has contributed to the rise in gold prices, with significant demand for physical silver leading to a squeeze in supply [4]. - Speculative funds have increasingly flowed into the silver market, which may spill over into the gold market, further driving up prices [4]. Group 4: Future Outlook - Despite potential short-term corrections, the long-term outlook for gold remains optimistic, with projections suggesting prices could reach $5,000 per ounce in 2026 due to sustained demand from central banks and investors [5][6]. - The anticipated demand from central banks is expected to remain strong, with an estimated purchase of 755 tons in 2026, which is still significantly higher than pre-2022 averages [6]. - The direction of U.S. monetary policy will be a critical factor influencing gold prices, with expectations of continued liquidity support if economic growth slows [6][7].

Core Viewpoint - ASUS will suspend the launch of new smartphones, including ZenFone and ROG Phone, in 2026 due to regular business adjustments and rising component costs, particularly storage prices [1][4][5]. Group 1: Business Adjustments - ASUS confirmed that it will not release new smartphones in 2026, emphasizing that after-sales service and software updates will remain unchanged [1]. - The decision is attributed to significant increases in upstream component costs, making it difficult for ASUS to sustain its smartphone business [1][4]. - Industry insiders speculate that the rising storage prices are a primary factor behind this decision [1][4]. Group 2: Historical Context - ASUS began its mobile journey in 2003 with the launch of the J100 3G flip phone and gained traction with the ZenFone series in 2014, which was well-received in emerging markets [2]. - The ROG Phone series, launched in 2018, positioned ASUS among the top gaming phone brands, but the company has faced challenges due to market saturation and increased competition [2]. - ASUS's smartphone revenue has significantly declined, dropping from 18% in 2016 to approximately 1% in 2023, leading to a strategic focus on the ZenFone and ROG Phone lines [3]. Group 3: Market Conditions - The global smartphone market is experiencing a downturn, with forecasts for 2026 showing reduced shipment volumes, further pressuring manufacturers [5]. - The rising costs of DRAM have increased the bill of materials (BoM) for smartphones by approximately 25% for low-end, 15% for mid-range, and 10% for high-end devices [4]. - ASUS's smartphone shipments are projected to be only in the tens of thousands in 2025, with a significant portion concentrated in the Asia-Pacific region [5]. Group 4: Financial Performance - Despite the challenges in the smartphone sector, ASUS's overall performance remains strong, driven by AI servers and gaming products, with a revenue of 535.98 billion New Taiwan Dollars in the first three quarters of 2025, a 24% year-on-year increase [5]. - However, the rising costs have impacted profitability, with a 9% decline in gross profit year-on-year, leading to a net profit decrease of 16% [5]. Group 5: Future Directions - ASUS is shifting its focus towards AI infrastructure, with plans to enhance its server business, which is approaching 20% of total revenue [6]. - The company is also considering price adjustments for its PC products due to rising storage costs, indicating a broader trend in the industry [7]. - There are rumors about ASUS entering the DRAM manufacturing market to stabilize its supply chain, although the company has denied these claims [7].

（文章来源：中国经营报） 1月7日，《中国经营报》记者从OPPO方面获悉，为进一步协同作战、整合资源，realme将回归OPPO， 成为旗下子品牌。 一加于2021年6月宣布并入OPPO集团，并在随后的半年到一年内完成了软硬件、渠道和服务的全面整 合。 OPPO方面表示，未来，OPPO与realme、一加将共同为全球用户提供更具创新力和差异化的产品，以及 更便捷周到的服务。 ...

Core Viewpoint - The introduction of AI in medical settings raises significant questions regarding responsibility and accountability, particularly when AI and inexperienced doctors provide differing treatment recommendations [1][2]. Group 1: Responsibility and Accountability - The integration of AI in healthcare necessitates a clear definition of responsibility boundaries and risk-bearing entities, as doctors assume dual roles of "principal" and "agent" [2]. - Current discussions emphasize the importance of establishing responsibility recognition in AI applications, especially as AI penetrates grassroots medical institutions more rapidly than in top-tier hospitals [2][3]. - Despite AI's capabilities, the ultimate responsibility for medical decisions remains with the doctors, as AI is currently viewed as an auxiliary diagnostic tool [2][3]. Group 2: AI in Healthcare Industry - AI is increasingly being adopted by various tech companies in the healthcare sector, with notable developments such as Ant Group's AI doctor assistant product "Ant Aifu" and Huawei's establishment of a medical team focusing on AI-assisted diagnosis [3]. - Companies like JD.com are also enhancing their healthcare services by integrating AI applications, such as the "Kangkang" AI medical mini-program within their health app [3].

值得注意的是，央行在国际金价持续大幅上涨、屡创历史新高过程中持续小幅增持黄金，释放了优化国 际储备的信号。 中经记者 慈玉鹏 北京报道 2026年1月7日，国家外汇管理局统计公布数据显示，截至2025年12月末，黄金储备为7415万盎司，较上 月末增加3万盎司。 《中国经营报》记者采访了解到，2025年12月末官方黄金储备连续第十四个月增加，但增量连续第十个 月处于低位，未来央行增持黄金仍是大方向。 小幅增持 伴随美联储持续降息，全球地缘政治风险居高不下，近期国际金价延续快速上涨势头，2025年12月央行 增持黄金规模继续处于2024年11月恢复增持以来的最低水平。 东方金诚首席宏观分析师王青表示，近期央行继续增持黄金，主要原因是美国新政府上台后，全球政 治、经济形势出现新变化，国际金价有可能在相当长一段时间内易涨难跌。这意味着从控制成本角度出 发暂停增持黄金的必要性下降，而从优化国际储备结构角度增持黄金的必要性上升。 王青表示，截至2025年11月末，在主要由外汇储备和黄金储备构成的官方国际储备中，黄金储备的占比 约为9.5%，明显低于15%左右的全球平均水平。从优化国际储备结构角度出发，未来需要持续增持黄 ...