公募基金投资中出现的"盲盒"现象，不仅会导致基金业绩与比较基准明显偏离，也属于典型的风格 漂移，其所产生的负面影响显然不容忽视。 一方面，基金的投资活动既违反了基金合同的约定，也违背了市场赖以坚守的契约精神。而且，对 于基金公司而言，这在本质上也是一个诚信问题。基金合同在发行时被大张旗鼓地宣传，但实际运作结 果却与合同约定不一致，无疑值得商榷。 导致相关基金投资出现"盲盒"现象的原因无疑是多方面的。比如，公募基金行业长期热衷于业绩排 名，一旦所管理的基金取得不俗业绩，不仅有助于跻身明星基金经理之列，也会在个人薪酬、晋升等方 面带来明显收益。这种激励机制容易引发基金经理的投资冲动。又如，若符合基金主题定位的个股或板 块并非市场热点，甚至处于下降通道，对基金净值而言显然十分不利。 此外，公募基金的风格漂移及其频繁换股，既容易引发股价波动，也会放大市场的投资风险。公募 基金通常掌握着大量资金，其换股操作，无论是集中卖出还是集中买入，都会对股价产生明显冲击，其 中蕴含的风险不容忽视。 近期，某些基金的业绩与比较基准出现明显偏离的现象引起市场的高度关注。正常情形下，相关基 金的业绩与比较基准偏离度不会太大。如果出现太大 ...

12月23日，研究机构Quest Mobile发布的《2025下半年AI应用交互革新与生态落地报告》（下称《报告》）显示，全市场AI原生App 中，最新周活跃用户排名前四的是豆包、DeepSeek、元宝、蚂蚁阿福，阿里千问位列第五，蚂蚁集团11月发布的通用AI助手灵光，进入 前十。 Quest Mobile榜单显示，在最新统计周期内（12月8日至12月14日），周活跃用户规模Top10的AI App中，有6个通用AI，4个垂类场景 的专业AI，形成了通用和垂类AI分庭抗礼的格局。其中，字节系3个应用上榜，蚂蚁集团则有2个上榜。在周活跃用户规模上，通用AI当 前的规模领先优势明显，豆包的周活跃规模达到1.55亿，DeepSeek、元宝分别为8156万、2084万。 垂类专业AI中，目前用户规模最大的是AI健康助手"蚂蚁阿福"，周活跃用户数突破1000万大关。公开信息显示，阿福刚刚于12月15日 发布App新版本，升级了健康陪伴、健康问答、健康服务三大功能，宣布从AI工具转型为AI朋友。阿福新版升级后下载量猛增，一度冲上 苹果应用榜免费总榜的第二位。 值得注意的是，蚂蚁阿福和灵光均是今年下半年才上线的应用，增长势 ...

最近，港交所刊发咨询文件，就优化香港证券市场每手买卖单位框架的相关建议征询市场意见，以 提升交易、结算及交收效率。 根据咨询文件，适用证券的每手股数将整合为八种标准选项，同时下调每手价值的指引下限，并增 设指引上限。具体来看，八种每手股数包括1股、50股、100股、500股、1000股、2000股、5000股和1万 股。港交所表示，优化后每手价值的指引下限将由现行的2000元下调至1000元，以避免因每手价值过低 而出现"负价值交易"。 当然，对于发行规模较大的新股，可根据实际情况进行差异化安排。例如，当新股首发规模超过10 亿股时，可恢复500股的最小申报单位；若首发规模超过20亿股，则可进一步提高至1000股。总体而 言，应根据新股发行规模灵活调整最小申报单位，在保持合理中签率的同时，更好地满足中小投资者打 新的需求，这也是保护中小投资者利益的体现。（作者系财经评论员） 事实上，A股市场并非只有一只"千元股"。爱美客、石头科技、禾迈股份等个股都曾进入"千元 股"行列，目前寒武纪仍属其中。每手100股的交易规定，不仅将不少中小投资者挡在"千元股"之外，也 在一定程度上影响了这类股票的流动性。 因此，对于"千 ...

Core Insights - The recent cyber attack on Kuaishou highlights the vulnerability of digital platforms to automated attacks by hacker organizations [1][3] - The incident serves as a wake-up call for the entire industry regarding the need for advanced security measures in the face of evolving threats [5] Group 1: Attack Details - Kuaishou experienced a severe attack on December 22, where hackers infiltrated the system within 60 to 90 minutes, leading to a collapse of the platform's security [1] - Approximately 17,000 zombie accounts were used to create live streams that broadcasted illegal content, with some streams attracting nearly 100,000 viewers [1] Group 2: Security Challenges - The attack was facilitated by the shift to an "automated attack" era, where traditional manual defense mechanisms are inadequate [3] - The rapid influx of violating content overwhelmed manual review processes, resulting in a "ban not keeping up with new additions" scenario [4] Group 3: Recommendations for Improvement - Experts emphasize the need for companies to adopt a dual defense strategy that addresses both external attacks and internal vulnerabilities [4] - The implementation of AI-driven automated security measures is crucial to counteract the increasing sophistication of cyber threats [4][5] - A zero-trust architecture is recommended to strengthen internal defenses against insider threats and unauthorized access [5]

Core Viewpoint - The controlling shareholder, Zhou's Investment, has released a pledge of 18.5 million shares, which accounts for 3.04% of its holdings and 1.70% of the company's total share capital [1] Summary by Relevant Sections - **Share Pledge Details** - The pledge release date is December 22, 2025, with the pledge starting on May 6, 2024 [1] - The pledgee is China Galaxy Securities Co., Ltd [1] - **Current Shareholding Status** - As of the announcement date, Zhou's Investment and its concerted parties hold 694 million shares, representing 63.94% of the total shares [1] - A total of 32.78 million shares are currently pledged, which is 4.72% of their holdings and 3.02% of the company's total share capital [1]

Core Viewpoint - Hainan is set to become the world's largest free trade port, surpassing Singapore, Dubai, and Hong Kong, following the official operation of its customs closure policy [1] Group 1: Luxury Car Market Impact - The launch of Hainan's customs closure has led to significant discounts on luxury cars, with prices dropping by 35%-40% compared to mainland market prices, attracting considerable consumer interest [3] - The high tax rates on imported vehicles in mainland China, which can reach up to 116.58%, have been a barrier, but the new policy allows for substantial price reductions, making luxury cars more accessible [3] - However, the zero-tariff policy for imported vehicles is limited to enterprises engaged in transportation and tourism, with strict conditions that must be met [4][5] Group 2: Automotive Industry Cost Structure - The zero-tariff policy is expected to reduce the tax burden on automotive manufacturers by 20%-22%, leading to a decrease in overall vehicle production costs by 18%-20% [7] - For example, a medium-sized car manufacturer importing 1 billion yuan worth of parts could save approximately 25 million yuan annually due to the elimination of tariffs and taxes [8] - The simplification of customs procedures has also improved efficiency, reducing the number of required declaration items from 105 to 33 [8] Group 3: Attracting Investment and Industry Growth - Hainan's favorable tax policies, including a 15% corporate income tax rate for qualifying electric vehicle and technology companies, are designed to attract foreign investment and encourage local manufacturing [9] - The "processing value-added 30% exemption" policy allows multinational companies to establish assembly bases in Hainan, enhancing their market access to mainland China [9] - These policies are expected to create a dual advantage of a "tariff-free zone" and logistical convenience, potentially attracting more businesses to the region [9]

12月22日，美国特朗普政府宣布暂停所有正在建设的海上风电项目，波及美国东海岸多个关键能源工程。这一决定被视为本届政府迄今针对海上风电 行业采取的最严厉举措。本就面临成本压力的美国海上风电产业正在着手应对新的重大不确定性。 美国内政部当天表示，已暂停从马萨诸塞州到弗吉尼亚州共五个海上风电项目的联邦租约。官方给出的理由是，国防部近期完成的一份机密评估报告 识别出相关项目可能带来"国家安全风险"。 联邦决策引争议 内政部长道格·伯古姆在声明中表示，此次行动旨在应对新出现的国家安全挑战，尤其是海上风电项目可能对关键基础设施和防务体系造成的影响。 具体来看，受影响的项目包括位于马萨诸塞州玛莎葡萄园岛外的Vineyard Wind 1、为罗得岛州和康涅狄格州供电的Revolution Wind、弗吉尼亚海岸海 上风电项目（Coastal Virginia Offshore Wind），以及纽约近海的Sunrise Wind和Empire Wind 1。这些项目大多已进入建设中后期阶段，部分甚至接近完 工。 伯古姆声称，在安全问题得到澄清前，暂停相关项目是"必要且审慎的做法"。 消息公布后，资本市场迅速作出反应。负责其中 ...

12月23日，《国际金融报》记者注意到，华贵人寿保险股份有限公司（下称"华贵人寿"）日前披露公告称，经公司2024年第1次（临时）股东大会审议 通过，并经贵州金融监管局批准，公司注册资本由20亿元增加至26.15亿元。不过，公告中并未明确出资方及出资比例情况。 作为贵州省第一家本土保险法人机构，华贵人寿成立于2017年2月，总部位于贵州省贵安新区，实控人为贵州省国资委，主要股东有中国贵州茅台酒厂 （集团）有限责任公司（下称"茅台集团"）、贵州省黔晟国有资产经营有限责任公司（下称"黔晟国资"）、贵州金融控股集团有限责任公司（贵州贵民投资 集团有限责任公司）等。 | | | | 贵阳贵安国有资产 | | --- | --- | --- | --- | | | | | 交易平台 | | 首页 | 政策法规 | 业务指南 分支机构 会员专家中心 | 企业 党建工作 | | ▲ 首页 / 项目 / 产权交易 / 增资扩股 | | | | | | 挂牌项目 | 华贵人寿保险股份有限公司增资项目 | | | 产权交易 | | 2025-12-17 ● 3012 | | | 招标采购 | | ハ 项目名称：华贵人寿保险股份有 ...

Core Viewpoint - The "Hubei Specialty Products Shanghai Consumption Week" aims to enhance economic and cultural exchanges between Hubei and Shanghai, showcasing Hubei's quality products and cultural charm while helping Hubei enterprises expand into the Yangtze River Delta market [1][2]. Group 1: Event Overview - The event is scheduled from December 23 to 30 in Shanghai's Hongkou District, featuring over 1,000 quality products from more than 100 leading Hubei enterprises [6][9]. - The opening ceremony highlighted the importance of building a two-way bridge for mutual understanding and appreciation of Hubei products among Shanghai residents [1][2]. Group 2: Objectives and Strategies - The Shanghai Hubei Chamber of Commerce aims to promote Hubei products through three main strategies: enhancing product service and promotion, facilitating precise supply-demand matching, and establishing a long-term operational platform for Hubei specialties in Shanghai [2]. - The event includes five themed exhibition areas, such as "Hubei Quality Selection" and "Healthy Hubei Products," designed to attract local consumers and provide a one-stop service platform for Hubei products [6][9]. Group 3: Consumer Engagement - The event allows for product tasting and direct purchasing, with attendees expressing satisfaction with the quality and taste of Hubei products, such as Enshi selenium-rich tea [9]. - The initiative is supported by various local organizations and aims to strengthen emotional ties and collaborative development between Hubei and Shanghai [9].

"当今世界已迈入了科技时代，科技成为决定当今世界发展的主导因素。我国已是世界工业大国、 贸易大国，需加快将我国建设成为世界科技强国，进而成为世界发展的主导力量。"在近日举行的"2025 年华顿版世界500强公司排行榜与中国百强城市价值表发布会暨中国经济年度研讨会"上，中国百强论坛 主席、华东理工大学民营经济研究院院长、华顿经济研究院院长沈晗耀指出。 针对当前我国经济发展面临的"产能过剩、需求不足""房地产下行""地方债务"等突出问题，沈晗耀 提出了五大战略性解决方案。 华顿经济研究院执行院长杨金国、华东理工大学民营经济研究院执行院长陈万思、复旦大学城市经 济研究院所所长周伟林、上海交大产业经济研究中心主任史占中、华东理工大学哈特合同与治理中心主 任吴玉鸣、深圳清华大学研究院智能体创新研究中心执行主任、数巅科技首席运营官蒋锡茸等专家出席 研讨会并发表演讲。 第三，由央行增发货币解决债务，出台大规模的免、减、降、延政策，免除公共品建设形成的无现 金流债务，对具备长期收益潜力的项目债务实施债转股，降低地方债务压力，并加大"贷款改拨款""贷 款改投资"力度，将公益性、准公益性项目资金需求转为中央财政直接拨款或政策性投 ...