2026年1月29日晚间，坚朗五金（002791.SZ）发布2025年度业绩预告。根据公告信息，坚朗五金预计 2025年度归母净利润及扣非净利润同比均由盈转亏，其中归母净利润预计亏损7000万元至9500万元，扣 非净利润预计亏损9500万元至1.15亿元。 对于当期亏损原因，坚朗五金方面表示，2025 年度国内建筑建材行业市场竞争持续加剧，叠加房地产 市场深度调整带来的需求收缩，对公司经营产生一定影响。 "2025年公司持续围绕建筑配套件集成供应战略定位开展工作，为应对市场变化，公司积极优化业务结 构，然而公司与房地产关联度较高的国内业务订单减少；同时公司强化风险防控，审慎开展大型工程项 目合作，导致工程渠道收入同比下滑；新产品和新场景业务方面开拓进度相对滞后。"坚朗五金方面表 示，在海外市场方面，公司依托前期市场开发积累和客户资源保持了良好增长趋势，但目前海外业务总 体占比还较少，无法抵冲国内业务下滑影响。因此，2025年度公司整体营业收入预计同比下降15%左 右。 此外，坚朗五金方面指出，当期公司部分资产因市场环境变化出现减值迹象，基于谨慎性原则，公司根 据相关规定，对可能发生减值的相关资产计提相应减值 ...

近日，日照银行在银行间市场成功发行"橙信二号2026年度第一期供应链票据定向资产支持商业票据"。 该产品为全国首笔采用"循环购买"机制的供应链票据资产支持商业票据（以下简称"供票ABN"），发行 金额1.34亿元，期限360天，这是供票ABN的产品期限首次突破6个月，具有重要的创新示范意义。 江西财经大学九银票据研究院执行院长肖小和指出，供应链票据资产证券化有利于中小企业作为发起机 构开展资产证券化，并在一定程度上降低中小企业融资成本；同时促进了票据市场创新发展，供应链票 据资产证券化为供应链票据发展提供了新的思路，为供应链中小企业提供了更多、更优质的金融服务。 "循环购买"机制提升资金周转效率 据了解，该产品由日照银行担任特定发起机构代理人及票据服务机构，东方证券、恒丰银行担任主承销 商，中铁信托担任发行载体管理机构。基础资产涵盖山东省内8个地市多家企业签发的供应链票据，其 中加工制造业企业占比超70%，充分体现了金融资源对实体经济特别是制造业的精准支持。通过设 置"循环购买"机制，进一步提升供票ABN的资产盘活、账期优化效益，为持票中小企业提供了有力资金 支持，进一步畅通融资渠道。 普兰金服副总裁周海滨向 ...

为推动销量，2026年开年各家车企开启"低息"大促。《中国经营报》记者采访了解到，多家车企在1—2 月推出6—7年贷款，年化利率最低不到1%，同时，各家车企也均设置了"0"息贷款方案，期限各有不 同，受到热捧。另外，部分其他类型购车金融产品利率也较2025年年末有所降低。 低息促销 近期，多家车企发布7年低息贷款。 一位北京地区车企金融条线人士告诉记者，银行推出7年低息贷款，一方面是响应国家金融政策，另一 方面也是推进产品销售。部分利率由车企补贴。 记者统计发现，6—7年贷款多数针对固定车型，贷款利率整体较低，最低处于1%以下。 小米官网显示，2026年1月16日—2月28日购买小米Yu7，首付4.99万元，年化费率为1%，折算年化利率 为1.93%，低息方案由上海小米融资租赁有限公司、上海畅途融资租赁有限公司提供。 再例如，小鹏官网显示，2026年1月21—31日，小鹏（2026款P7+）限时6—7年低息方案，首付比例 15%，年费率1.5%，近似折算年化利率2.87%（单利），由小鹏融资租赁有限公司提供。 长期贷款热度有限 北京地区一位新能源车企人士告诉记者，2026年1月起，购车的金融支持方案即有所优化 ...

Core Insights - Artificial intelligence (AI) is a significant driving force behind the new wave of technological revolution and industrial transformation, particularly in the transportation sector, which is characterized by diverse scenarios and rich data [1] Group 1: Provincial Initiatives - Multiple provinces, including Anhui, Guangxi, Guangdong, and Jilin, have recently introduced "AI + Transportation" action plans to promote innovative applications of AI in transportation infrastructure management, industry governance, and public services [1][2] - Anhui's plan emphasizes the deep application of intelligent connected vehicles and the cultivation of the entire industry chain, aiming to advance key technologies such as perception systems and decision algorithms by January 2026 [1] - Guangxi focuses on enhancing cooperation with ASEAN, establishing innovation centers for AI in transportation, and developing smart management platforms for cross-border logistics and transportation [2] - Guangdong's initiative aims to support the integration of rail transit systems in the Greater Bay Area, addressing the challenges of "four-network integration" in rail transport [2] - Jilin's plan targets the unique needs of cold climate regions, developing AI solutions like highway construction warning robots to improve safety and efficiency in transportation [3] Group 2: Quantitative Development Goals - Anhui aims to accelerate the application of AI in typical transportation scenarios by 2027, with goals to establish over five benchmark demonstration scenarios and develop more than 20 typical intelligent products [4] - Jiangsu's action plan sets a target for 2027 to create 100 high-quality application scenarios and 20 vertical industry models [4] - Guangxi plans to build at least 20 high-quality data sets and implement no fewer than 30 typical AI applications in the transportation sector by 2028 [4] - The collective efforts across provinces are expected to lead to a concentrated outbreak of intelligent transformation in the transportation industry, providing diverse samples for the construction of a national intelligent transportation system [4]

Group 1 - The core viewpoint of the article highlights the implementation of a new subsidy policy in Beijing for replacing old household appliances, which offers a 15% subsidy on the purchase price for six categories of energy-efficient appliances, with a maximum subsidy of 1500 yuan for televisions [1] - The subsidy program aims to enhance consumer experience by providing both online and offline purchasing options, allowing consumers to redeem subsidies directly during payment on various e-commerce platforms and at over 1500 registered stores in Beijing [1] - The policy is part of a broader initiative by the National Development and Reform Commission and the Ministry of Finance to stimulate consumption and support economic growth through financial subsidies for equipment updates and green industry initiatives [2] Group 2 - The new fiscal subsidy policy covers multiple core areas, including equipment updates, green industry, and support for small and micro enterprises, with lowered application thresholds and increased subsidy amounts to effectively boost domestic demand and stabilize growth [2] - In the equipment update sector, subsidies range from 15% to 20% of fixed asset investments, with specific projects in technology innovation and green transformation eligible for up to 20% support, and loan interest subsidies available for up to 5 million yuan per enterprise [2] - The green industry is a key focus of the policy, with 35% of special long-term bonds allocated for green transformation, and the program has already shown significant impact in various regions, driving substantial consumer spending [3] Group 3 - The subsidy application process is designed to be accessible through both online and offline channels, with various government service platforms and partner merchants facilitating submissions, and deadlines for most applications set until December 31, 2026 [4] - The policy emphasizes strict management of subsidy funds, prohibiting misuse for investment or financial purposes, and establishing mechanisms to ensure efficient fund allocation directly to applicants [3]

Core Viewpoint - Century Huatong expects a significant increase in net profit for 2025, projecting a growth of 357.47% to 475.34% compared to the previous year, driven by strong performance in multiple game products [1] Financial Performance - The company anticipates consolidated operating revenue of approximately 38 billion yuan for 2025, representing a year-on-year increase of about 68% [1] - Expected net profit attributable to shareholders is projected to be between 5.55 billion and 6.98 billion yuan, with a year-on-year growth of 357.47% to 475.34% [1] - The non-recurring net profit is forecasted to be between 5.8 billion and 6.33 billion yuan, indicating a year-on-year increase of 252.97% to 285.22% [1] - Operating cash flow is expected to grow by over 70% year-on-year [1] Market Position and Product Performance - Century Huatong is recognized as one of the fastest-growing gaming companies globally over the past three years, achieving continuous revenue growth for 12 consecutive quarters since 2023 [1] - The company has doubled its net profit year-on-year for two consecutive years, setting new historical highs [1] - Key products contributing to this growth include: - "Whiteout Survival," which has entered the global mobile game "1 billion USD revenue club," ranking fourth in global mobile game revenue for 2025 and first in China's mobile game overseas revenue [1] - "Kingshot," which has emerged as the third in China's mobile game overseas revenue [1] - "Endless Winter," which maintains rapid revenue growth as a leading product in the SLG category [1] - New product "Beng Beng Kingdom," which is showing a continuous growth trend [1]

Core Insights - The "pet economy" is becoming a significant growth driver for urban development and industrial innovation in China, transitioning from a focus on household consumption to broader economic contributions [1][2][4] Policy Developments - Multiple cities, including Chengdu, Beijing, and Shanghai, are incorporating the pet economy into their government work reports, emphasizing its importance for economic growth [2][3] - Chengdu has reported over 5 million pets and 2 million pet-owning households, providing a solid foundation for industry development [2] - Policies are shifting from mere regulation to strategic planning, focusing on integrated development, technological empowerment, and cultural aspects of the pet economy [4][6] Market Expansion - The pet consumption market is projected to reach 405 billion yuan by 2028, with a compound annual growth rate of over 8% expected in the next three years [5][6] - The market is transitioning from rapid expansion to deep competition, with trends indicating a shift towards precise nutrition and enhanced consumer experiences [6][7] - Growth in the pet economy is particularly strong in lower-tier cities, where competition is less intense and consumer preferences differ [6][7] Industry Trends - Key potential areas for growth include pet health management, the senior pet market, and the high-end positioning of domestic brands [7] - Innovations in pet healthcare, such as stem cell technology, are emerging as significant opportunities for industry advancement [7][8] Challenges and Opportunities - The industry faces challenges such as the need for improved standards, talent shortages, and the necessity for a pet-friendly societal infrastructure [8] - There is a growing demand for specialized professionals in pet healthcare and services, highlighting the need for enhanced educational and training programs [8] - The integration of the pet economy with cultural and tourism sectors is being explored, with initiatives like pet-themed towns and parks aimed at attracting pet owners [8]

在刘萌看来，湖北省在扩大对外开放、发展开放型经济取得一系列成绩的同时，还客观存在一些短板：一是传统产业占比较高，高端制造与服务贸易竞争力 不够强；二是要素集聚不足，高端人才、核心技术、国际资本集聚能力与沿海相比存在一定差距，制度型开放对标国际高标准仍显不足；三是通道与平台效 能有待提升，铁水公空多式联运"最后一公里"还不够畅通，自贸区、综保区等平台辐射带动力还不够强，通关与物流成本偏高；四是区域竞争压力加剧，内 外贸融合与双向投资活力有待激活。 中经记者张家振武汉报道 素有"九省通衢"之称的湖北省，在串联国内交通和消费市场的同时，如何坚持对内对外开放并重、打造内陆开放高地，把"九省通衢"的区位优势转化为"九 州通衢"的发展优势？ 湖北省"十五五"规划建议提出："坚持对内对外开放并重，深入实施枢纽提能战略，重构开放通道，重塑物流体系，壮大开放型经济规模，推进高标准制度 型开放，做强内循环、做优外循环、畅通双循环，以开放促改革促发展，在更广范围内拓展发展空间、集聚发展要素。" 在2026年湖北"两会"期间，如何更好扩大高水平对外开放，打造内陆开放高地，也成为湖北代表、委员热议的话题。1月29日，湖北省政协委员刘萌 ...

皇家加勒比国际游轮（以下简称"皇家加勒比"）公布了中国大陆市场新航季部署计划。 "基于对中国出行趋势的持续洞察，公司推出了全新目的地，同时继续为宾客带来经典深度游航线，在 保持产品多样性的同时进一步提升航线灵活度。"日前，皇家加勒比大中华区总裁博杰明（Benjamin Bouldin）表示，在2026—2027航季，"海洋光谱号"将继续全年部署在中国市场，以上海、香港母港为 核心，通过多样航线设计和更具吸引力的目的地组合，为中国宾客带来更契合当下需求的海上假期。 为进一步满足消费者日益升温的韩国出游需求，自2026年5月起，皇家加勒比将推出全新目的地——韩 国丽水。"作为全新纳入航线规划的目的地，韩国丽水的加入，进一步拓展了韩国航线的丰富度，为宾 客带来区别于传统热门城市的全新滨海体验。"皇家加勒比方面表示。 此外，在2026年国庆假期，"海洋光谱号"航线也将迎来升级。皇家加勒比将打造韩国"大回环"航程，串 联仁川、济州与釜山三大热门目的地，一站式覆盖都市、人文与海岛风光，为宾客"黄金周"出游提供高 品质的度假选择。 "公司始终以中国消费者需求为核心，持续优化航线布局与目的地体验，灵活响应市场变化，不断拓展 ...

（图为特斯拉Model X。夏治斌/摄影） 中经记者 夏治斌 石英婧 上海报道 北京时间1月29日，特斯拉发布2025年第四季度及全年财报。数据显示，特斯拉全年总营收为948.27亿 美元，同比下降3%，首次出现年度营收下降。盈利端同样承压，特斯拉全年GAAP净利润37.94亿美 元，同比下降46%，非GAAP净利润59亿美元，同比下降26%。 《中国经营报》记者注意到，尽管亚太市场交付量创下新高、Model Y完成持续迭代，但受行业竞争加 剧、高端车型需求疲软等多重压力影响，特斯拉的整体销量仍陷入低迷，这也成为其业绩下滑的主要诱 因。2025年，特斯拉电动车全年交付163.6万辆，同比下滑8.6%；对应的汽车业务收入695.26亿美元， 同比降幅达10%，成为拉低公司总营收的主要板块。 值得注意的是，尽管传统汽车业务面临挑战，特斯拉在储能、超充网络、自动驾驶订阅服务等领域的表 现仍具亮点。2025年第四季度，特斯拉储能装机量创下历史新高，超充桩净增超3800根，智能辅助驾驶 系统的月度订阅量实现翻倍增长。与此同时，特斯拉正在得州超级工厂打造Cortex 2算力集群，2026 年 上半年，得州超级工厂的本地算 ...