Market Overview - A-shares experienced a significant rise with the ChiNext Index increasing by over 2%, driven by technology stocks, while the total trading volume remained below 1.9 trillion yuan [1] - The Shanghai Composite Index closed up 0.69% at 3917.36 points, and the ChiNext Index rose 2.23% to 3191.98 points, indicating a warming trading environment with a trading volume increase of 133.5 billion yuan compared to the previous day [2] Sector Performance - The technology, retail, and precious metals sectors saw substantial gains, with the CPO (Co-packaged Optical) concept, Hainan Free Trade Zone, and F5G concepts experiencing significant increases [4] - Among the 31 primary industries, 22 sectors closed in the green, with telecommunications leading the gains, followed by comprehensive, electronics, non-ferrous metals, and retail sectors, all exceeding 1% growth [4] Notable Stocks - Leading CPO stocks such as "Yizhongtian" (including Xinyi Sheng (300502), Zhongji Xuchuang (300308), and Tianfu Communication (300394)) saw collective significant increases [1] - Specific stocks like Ding Tong Technology, Te Fa Information, and Hengtong Optic-Electric reached their daily limit up [5][6] Trading Data - The trading volume for the telecommunications sector reached 156.1 billion yuan, with a year-to-date increase of 87.77% [5] - The electronics sector also performed well, with a trading volume of 318.2 billion yuan and a year-to-date increase of 44.80% [7] Hainan Free Trade Zone - The Hainan Free Trade Zone concept triggered a surge in stock prices, with 29 related stocks hitting the daily limit up, including Tianye Co., which rose by 29.89% [10] - Other notable stocks in this sector included Shennong Agriculture and Kangzhi Pharmaceutical, both achieving significant daily gains [10] Investment Strategy - Analysts suggest a balanced investment approach with a focus on stocks with stable cash flow and solid fundamentals, especially in the context of market fluctuations [1][12] - The market is expected to remain in a range between 3800 and 3900 points in the short term, with a recommendation to control drawdowns [1][12]

从实验室走向生活场景，人形机器人行业持续探索商业化路径。 "我们的目标很明确：让机器人租赁像叫网约车一样便捷。" 姜青松指出，未来无论是工厂巡检、商场 引流，还是婚礼助兴、校园活动，用户都能通过擎天租快速获取定制化机器人解决方案。此外，姜青松 分享了"擎天租1234战略计划"，即2026年实现10+本体厂家、200+金牌服务租赁商、3000+内容创作 者、400000+租赁客户。 擎天租CEO李一言详解擎天租的核心功能架构时指出，该平台将打通用户端、商家端与创作者生态，提 供内容运营、经营支持等一站式服务，聚合全产业链合作伙伴。用户可通过平台商城直接下单，享受标 准化服务保障；渠道商家可便捷入驻，实现订单全流程线上管理；创作者则可对接智元灵创平台，完成 内容创新与技能包数据集成。 12月22日，在全国机器人租赁生态峰会上，智元机器人、加速进化等具身智能领域企业联合打造的全国 首个开放式机器人租赁平台 "擎天租"正式亮相。据官方披露，该平台目前已覆盖全国50个核心城市， 联动超600家服务商，提供多品牌、多型号机器人租赁服务，租金区间从200元至万元以上不等。按照规 划，到2026年其租赁服务网络将拓展至全国超 ...

Group 1 - Samsung plans to launch its first "wide-foldable" smartphone in the fall of 2026, featuring an inner screen size of 7.6 inches and an outer screen of 5.4 inches, both made of OLED material with a 4:3 aspect ratio [1] - The current market for wide-foldable smartphones is dominated by Huawei's Pura X, which recently underwent its first major price adjustment since launch, attracting significant market attention [1][3] - The Pura X was released in March this year, running on HarmonyOS 5, with initial prices set at 7499 yuan for the standard version and 9999 yuan for the top-tier version [6][9] Group 2 - Huawei has reduced the price of the Pura X by 600 yuan for the standard version, bringing the lowest configuration to 6899 yuan, while the premium version saw a reduction of 800 yuan [3] - In-store promotions include an additional discount of 100 yuan for on-site activation, with reports of increased customer inquiries and purchases following the price drop [3] - Huawei's executive previously stated that the Pura X would be a product that "everyone can afford," but the initial pricing has sparked discussions due to its high cost relative to expectations [9]

Core Viewpoint - The controversy surrounding Southern Black Sesame's product labeling highlights a disconnect between consumer expectations and actual ingredient composition, raising questions about brand integrity and consumer trust [5][8]. Group 1: Ingredient Composition and Consumer Reaction - A recent consumer post revealed that black sesame was not the primary ingredient in a walnut black sesame paste, with the ingredient list showing it in fourth place behind grain powders and glucose [2][4]. - This discrepancy led to public outcry, with consumers feeling misled, prompting suggestions to rename the product to reflect its actual composition [4][5]. - The company responded by stating that the product's new packaging has black sesame moved to the second position, but grain powders remain the primary ingredient, indicating a "grain-based, black sesame as a supplement" formulation [4][5]. Group 2: Financial Performance and Challenges - Southern Black Sesame has faced declining revenues, with figures dropping from 40.25 billion yuan in 2021 to an estimated 24.65 billion yuan in 2024, representing a nearly 40% decrease over four years [6]. - The company's net profit has also fluctuated, with a cumulative loss of 1.28 billion yuan over the same period, and a significant drop in net profit of 83.67% in the first three quarters of 2025 [6][7]. - To address financial difficulties, the company is undergoing a change in control, with a state-owned enterprise set to acquire a 20% stake, and performance commitments have been postponed to 2026-2028 due to current underperformance [7][8].

Core Viewpoint - Swire Properties is undergoing significant management changes, indicating a strategic focus on enhancing its operations in mainland China, particularly in the retail sector, which has shown stronger performance compared to its office business [7]. Group 1: Management Appointments - David Poraj-Wilczynski has been appointed as the CEO for mainland China, bringing extensive leadership experience from various sectors including marine and real estate [1][2]. - Jessica Huang has been promoted to Vice Chairman of Swire Properties, overseeing digital transformation efforts in Hong Kong and mainland China, after successfully managing the Guangzhou Taikoo Hui [4]. - Mark Wang, previously the General Manager of Beijing Taikoo Li, will take over as the General Manager of Guangzhou Taikoo Hui [4]. - Guy Moore has been appointed General Manager of Beijing Taikoo Li, with a focus on the expansion of the project set to be completed in phases by 2026 [5]. - Chen Xiaoying has been appointed General Manager of Swire Properties' residential business in mainland China, while continuing her role in investment development for North China [6]. Group 2: Retail Performance - Swire Properties' retail sales in Hong Kong have shown modest growth, with Taikoo Place shopping mall sales increasing by 3.6% year-on-year as of September [7]. - In contrast, the mainland retail market has demonstrated significant growth, with Shanghai Xinye Taikoo Hui sales up by 41.9% and a rental rate of 95% [7]. - Other notable sales increases include Beijing Sanlitun Taikoo Li at 7.8%, Shanghai Qiantan Taikoo Li at 5.6%, and Chengdu Taikoo Li at 2.4% [7]. Group 3: Investment Plans - Swire Properties has committed to a strategic investment plan of HKD 100 billion over ten years, with half of this amount allocated to mainland China [7]. - As of the mid-year financial report, 67% of the investment plan has been committed, with 92% of the HKD 50 billion earmarked for mainland projects already secured [8].

"配料成分第一位居然不是黑芝麻，那还能叫黑芝麻糊吗？" 近期，国民品牌南方黑芝麻因配料表排序问题引发热议，一句"灵魂拷问"道出了无数消费者的困惑。 黑芝麻排配料表第四位 近日，一名网友晒出其购买的核桃黑芝麻糊包装照片，认为配料表的排序与产品名称不符。 该配料表中，首位并非"黑芝麻"，而是包含大米、小麦、玉米等在内的谷物粗粮粉，食用葡萄糖和麦芽糊精紧随其后，作为产品名称核心元素的黑芝麻 仅位列第四位。 这名网友认为，配料表的排序与产品名称不符。 图片来源：社交平台 亏损下的业绩承诺延期 作为老牌国货食品企业，黑芝麻近些年受市场环境变化、战略摇摆等因素影响，已陷入业绩连降困境。 2021年—2024年，公司营收分别为40.25亿元、30.16亿元、26.77亿元、24.65亿元，四年间营收规模缩水近四成；盈利能力同样堪忧，同期归母净利润分 别为-1.09亿元、-1.4亿元、0.43亿元、0.78亿元，虽在波动回升，但四年累计仍亏损1.28亿元。 这一发现迅速引发关注，网友纷纷调侃"买的是黑芝麻糊，实际喝的是加糖米糊"，甚至建议产品直接改名为"南方米糊"。 随着舆论发酵，12月20日，南方黑芝麻旗舰店工作人员回应媒 ...

2025年，随着《建立健全都市圈同城化发展体制机制提升长三角城市群一体化发展水平行动方案》（下称《行动方案》） 的全面落地，长三角六大都市圈在基础设施联通、产业协同创新、公共服务共享等领域按下"加速键"，长三角整体呈现出明显 的"市—圈—群—域"结构，持续释放发展红利。 站在"十五五"规划开局的关键节点，2026年长三角都市圈同城化将直面与国际先行都市圈的差距，以30项具体任务为抓 手，推动区域一体化从"形态聚合"向"功能融合"深度跨越，为2035年远景目标筑牢根基。 同城化跑出"加速度" 2025年是《行动方案》实施的首年，长三角区域合作办公室会同沪苏浙皖三省一市发展改革委，建立多层次工作推进机 制，将"七个一"目标转化为各地的生动实践，同城化发展取得一系列标志性成果。 基础设施互联互通网络加速成型。根据《行动方案》，聚焦"共织基础设施互联互通'一张网'"目标，大力推进公路"断头 路"畅通工程和"瓶颈路"拓宽工程，沪苏省际毗邻区域3条阻断道路实现贯通，宁杭生态经济带沿线公路网密度提升15%。轨道交 通"四网融合"纵深推进，沪苏湖高铁、合杭高铁全线贯通运营。 截至2025年10月，长三角区域铁路营业总里程超1 ...

同时，调薪覆盖范围呈现"全岗位兼顾、核心岗倾斜"特征。 比亚迪（002594）涨工资了。 12月22日，不少标有"比亚迪员工"的网友在脉脉等平台发文称，比亚迪涨薪500元至3000元不等，最高 涨薪4500元。对此，《国际金融报》记者向比亚迪方面求证，其表示涨薪属实，但对于涨薪幅度以及涉 及人员数量并不方便透露。 记者从知情人士处了解到，此次调薪的核心逻辑是"绩优者多得"，不同绩效等级对应明确涨幅梯度。多 数绩效达标员工的月薪涨幅集中在1000元左右，表现突出者可达到3200元/月，而少数绩效顶尖的核心 技术人才或管理层，能斩获4500元/月。未获得调薪的员工多为绩效待改进者，部分事业部也存在因业 务调整暂未参与调薪的情况。 截至今年11月，年内比亚迪的累计销量达到418万辆，随着年关将近，若12月单月销量仍保持40万辆朝 上，比亚迪2025年全年销量预计突破460万辆，有望突破曾对外宣布的460万辆全年销量目标。 基层生产岗中，深圳、郑州等基地的普工底薪自2025年4月已上调至2770元(含800元技能津贴)，叠加此 次调薪后，综合月薪普遍突破6000元，高强度加班场景下可达9300元；技术研发岗是调薪重点 ...

Core Insights - The forum themed "Technology Empowering Finance, Talent Driving the Future" was held in Lujiazui Financial City, focusing on the integration of financial technology, international talent cultivation, and industry-education collaboration [1] - The event highlighted the importance of enhancing financial services to support the real economy and the national "going out" strategy through technology empowerment in finance [1] - A new training program aimed at bridging financial talent with the real economy will be launched in 2026, focusing on key areas such as technological innovation and digital economy [2] Group 1 - The forum gathered representatives from government, social organizations, higher education, research institutions, and leading financial institutions to discuss cutting-edge financial technology and talent development [1] - Zhang Hui, Deputy Secretary of the Financial Work Committee of Pudong New Area, emphasized the need for collaboration between finance, education, and technology to innovate talent cultivation models [1] - The forum underscored Shanghai's role as an international financial center and Pudong's mission to lead breakthroughs in financial development [1] Group 2 - Liu Qingfu, a professor at Fudan University, analyzed the systemic transformation of the financial industry driven by technology, highlighting the need for a new skill set among financial professionals [2] - Foreign financial technology representatives shared experiences on digital financial infrastructure and the necessity for hybrid talents who understand both finance and digital technology [2] - The "Five Major Articles" training program aims to systematically engage financial practitioners with the real economy to enhance the precision and effectiveness of financial services [2] Group 3 - The first roundtable discussed the need to break the talent shortage in financial technology by creating an open and collaborative ecosystem that encourages cross-disciplinary innovation [3] - The second roundtable focused on building a comprehensive talent cultivation system that aligns with the status of an international financial center, integrating global modeling methods with Chinese financial practices [3] - The goal is to develop a financial professional workforce that possesses both global perspectives and a deep understanding of domestic market characteristics [3]

Core Viewpoint - GAC Group is intensifying its reform efforts one year after the launch of the "Panyu Action," focusing on integrating its autonomous brands and enhancing operational efficiency [1][5]. Group 1: Brand Integration and Structure - GAC officially initiated the integration of its autonomous brand business units (BUs) on December 18, creating a structured BU framework that includes the establishment of the Haobo and Aion brands under a unified management system [2]. - The integration aims to address three major pain points in the autonomous brand development: coping with industry competition, aligning with market segmentation, and improving market responsiveness [3]. Group 2: Channel Integration - The core strategy for integration involves channel fusion, with a phased approach to combine sales and service networks for Haobo and Aion, targeting over 30 cities by January 31, 2026, and achieving full integration by March 31, 2026, with over 1,000 sales points [3]. - Haobo targets the mid-to-high-end market, while Aion focuses on the mainstream market, ensuring complementary positioning to avoid internal competition [3]. Group 3: Operational Efficiency and Innovation - The "Panyu Action" has led to significant improvements in operational efficiency, reducing the new car development cycle from 26 months to 18-21 months and cutting R&D costs by over 10% [5]. - GAC has established a shared center and a large R&D system for its autonomous brands, optimizing the number of planned models by approximately 20% [5]. Group 4: Strategic Partnerships and New Products - GAC's joint venture with Huawei, "Hua Wang Automotive," has launched the high-end brand "Qijing," targeting the premium market with a product matrix focused on young elites [6]. - The flagship sedan Haobo A800 has received an L3-level autonomous driving road test license, and GAC has signed a ten-year strategic cooperation agreement with CATL to develop a battery swap ecosystem [7]. Group 5: Market Performance and Future Goals - GAC's transformation has shown initial results, with a 7% quarter-on-quarter revenue growth and an 11% increase in sales in Q3 2025, while the autonomous brand segment grew by 15% [7]. - The company aims to achieve a sales target of 2 million units for its autonomous brands by 2027, with a market share of over 60% during the "14th Five-Year Plan" period [7].