2026年1月1日，央行发的两个"红包"到账了：下调房贷利率，给家庭账本"减负"；修复征信记录，让曾 因逾期受阻的人重获平等融资机会。 1月1日，住房信贷领域重磅减负政策正式生效，存量公积金贷款与商业住房贷款同步执行新利率标准， 全国1.5亿房贷家庭迎来"新年红包"。 房地新政落地后，以一笔金额100万元、期限30年、等额本息还款的首套个人住房公积金贷款为例，月 供将由4136元降至4003元，减少约133元，总利息支出将减少约4.76万元。 在此背景下，给房贷减负并非简单的"让利"，而是应对潜在需求收缩与经济循环不畅的必要举措。一方 面，利率下调能直接降低月供压力，减少因还贷负担过重导致的消费抑制，稳住居民部门的现金流与信 心；另一方面，它释放了政策层"托底民生、畅通内循环"的明确信号，有助于修复市场预期，防止观望 情绪蔓延成实质性需求滑坡。尤其是在外需不确定性增加的背景下，内需的稳定与扩大已成为经济增长 的压舱石，而住房金融成本的降低，正是激活内需的重要切入口。 实际上，在2026年1月1日生效的还有一项银行火速推进的信用修复政策：房贷、消费贷等，只要满足一 定条件，逾期记录将在央行征信系统中不再展示。 ...

Core Viewpoint - The company, Derun Electronics, is facing significant regulatory penalties and governance issues due to major violations in information disclosure, leading to a systematic risk exposure for over 75,000 shareholders [1][2][5]. Group 1: Regulatory Actions and Financial Misconduct - Derun Electronics has been placed under other risk warnings and will be renamed "ST Derun" starting January 6, 2026, following a notice from the Shenzhen Securities Regulatory Commission due to serious information disclosure violations [1]. - The company inflated its assets and profits by fabricating customer payments and concealing actual financial support from its controlling shareholder, resulting in fictitious receivables of CNY 395 million and CNY 113 million for 2020 and 2021, respectively [2]. - The company has been fined CNY 7 million, while the controlling shareholder, Qiu Jianmin, faces a personal fine of CNY 12 million and a five-year market ban, significantly limiting his influence over the company [2]. Group 2: Shareholder and Governance Impact - The controlling shareholder's stake has drastically decreased to 5.68% due to forced sales from debt defaults, raising concerns about potential changes in control and governance [3]. - The recent changes in shareholding structure, with new shareholders being individuals with undisclosed backgrounds, may challenge the existing board if they form a united front [3]. - The company has 75,253 ordinary shareholders, predominantly small investors, who lack the information and tools to mitigate risks, now facing the consequences of governance failures [5][6]. Group 3: Financial Performance and Market Reactions - Derun Electronics reported a net loss of CNY 1.225 billion for the year 2024, a decline of over 500%, with a further revenue drop of 15.70% in the first three quarters of 2025 [5]. - The transition to "ST Derun" will limit the company's refinancing capabilities and affect bank credit, further eroding confidence among customers and suppliers [5]. - The governance crisis exacerbates existing pressures from increased competition and declining profit margins in the automotive electronics and charging module sectors [5][6].

经济观察报 记者 蔡越坤 半年狂飙超85%！ 2025年7月以来，一场被称为"反内卷"的行情风暴，席卷了光伏产业链的核心——多晶硅期货市场。 在约6个月的时间里，多晶硅期货价格自每吨31000元附近的低位启动，短短一个月内便快速突破50000 元/吨，一度冲顶至63000元/吨。截至2025年12月30日，多晶硅主力合约"2605"报57890元/吨，相较2025 年6月下旬，累计涨幅已超85%，成为当年期货市场中涨幅突出、备受关注的品种之一。 随着价格持续上行，市场参与热度明显上升，越来越多的交易者开始进入多晶硅期货市场。 然而，期货市场是残酷的零和博弈。当多数多头交易者欢庆收益时，另一群人却在经历一场漫长的煎熬 ——他们就是站在行情对立面的空头。 南华期货（603093）贵金属新能源研究组负责人夏莹莹认为，2025年三季度，"反内卷"成为多晶硅期货 市场的核心驱动因素，政策预期与资金入场形成共振，推动期价大幅走高。同时，上游硅料厂现货报价 大幅上涨，为期货市场提供坚实支撑。 "2025年11月下旬，市场交易逻辑转向仓单不足，当月集中注销后仓单数量大幅减少，引发资金做多情 绪升温；随后，叠加'平台公司'成立 ...

经济观察网 据央视新闻消息，新加坡教育部近日宣布，自2026年1月开始，将在全国中学范围内实施更 严格的智能手机和智能手表使用禁令，并同步调整学生学习设备的夜间自动关闭时间，以促进青少年身 心健康。 根据新规，新加坡中学生不仅在上课期间不得使用智能手机和智能手表，包括课间休息、课外活动等其 他在校时间，都需要将设备存放于指定区域内，实现校园"无手机化"。只有在特殊情况下，经校方批准 才可使用。 ...

经济观察网天眼查App显示，12月29日，南水北调绿色发展(上海)有限公司成立，法定代表人为徐宇 华，注册资本38亿人民币，经营范围包括以自有资金从事投资活动、工程管理服务、储能技术服务、发 电技术服务等。股东信息显示，该公司由国家绿色发展基金股份有限公司、中国南水北调集团新能源投 资有限公司共同持股。 ...

经济观察网天眼查App显示，12月29日，诚通科创投资基金(江苏)有限公司成立，法定代表人为刘嗣 永，注册资本100亿人民币，经营范围包括创业投资、股权投资、以自有资金从事投资活动等。股东信 息显示，该公司由中国诚通控股集团有限公司、江苏省战略性新兴产业母基金有限公司、联通创新创业 投资有限公司等共同持股。 ...

经济观察网天眼查App显示，12月29日，国新控股(雄安)有限公司成立，法定代表人为姜开宏，注册资 本20亿人民币，经营范围为创业投资、以自有资金从事投资活动、自有资金投资的资产管理服务、融资 咨询服务、财务咨询、企业管理咨询、信息咨询服务、社会经济咨询服务，由中国国新控股有限责任公 司、中国雄安集团投资管理有限公司共同持股。 ...

Core Insights - Foton Motor has launched its new product, the "Qimingxing" pure electric light truck, marking a transition from "oil-to-electric" to "native pure electric" vehicles [2] - The Qimingxing product is based on a dedicated platform developed over three years with an investment of 1.7 billion yuan, representing a significant advancement in customer value compared to previous "oil-to-electric" models [2] - The "oil-to-electric" approach has been a strategic compromise in the early stages of industrial electrification, allowing manufacturers to quickly introduce electric products with lower development costs [3] Industry Trends - The domestic sales of new energy commercial vehicles in China reached 750,000 units from January to November 2025, a year-on-year increase of 62.4%, with a market share of approximately 20% [3] - Foton Motor's new energy sales during the same period amounted to 92,000 units, reflecting a year-on-year growth of 89.1% [3] - The limitations of the "oil-to-electric" models hinder their ability to meet the industry's demands for large-scale and high-quality development [3] Product Development - The Qimingxing product utilizes a completely new platform architecture designed from the perspective of vehicle electrification and intelligence, enhancing lightweight data, intelligence levels, and operational efficiency [3] - The design of "oil-to-electric" vehicles often compromises battery placement and vehicle stability, which the new platform aims to address by eliminating unsuitable structures [3] Market Engagement - Foton Motor has signed bulk orders for three major brands, totaling 1,682 vehicles, with significant orders for the Oumake Z, Aoling Jidian, and Kaven Letu products [4] - The Oumake Z product secured 666 units, targeting diverse scenarios including leasing and cold chain logistics [4] - The Aoling Jidian product signed 616 units, focusing on the green logistics market, while the Kaven Letu product secured 400 units from various logistics companies [4]

经济观察网湖北省政府新闻办近日举行发布会，介绍"乐在湖北'马'上有喜"新春消费季活动安排。新春 消费季期间，全省将发放1亿元零售餐饮消费大礼包，覆盖走亲访友、团圆聚餐、新春购物等核心场 景，"即时摇号+到店立减"，买单更划算。 ...

笔者在抖音、小红书等社交平台看到，多数晒单购买成功的消费者，都是购买了2瓶、4瓶、6瓶不等， 用途多是临时用酒和为过节或赠礼做准备。一位重庆消费者在接受媒体采访时表示，购酒是因为马上过 春节用于家庭聚餐，和亲友一同分享喜悦和祝福。 "这段时间购酒需求量在增加，很多在i茅台上抢不到的客户，都到专卖店来咨询是否能买到"，一位上 海经销商表示，这些客户多是为了过年需求而来，其中不乏一些工作不久的年轻人，很多是看到网上的 信息前来咨询的。 "线上的曝光反而带动了我们线下门店客流。"上海经销商表示，"它把那些原本只是偶然接触茅台的用 户吸引进来，而要将这部分人转化为长期、忠诚的客户，最终还是要靠我们线下渠道来承接和服务。" 值得注意的是，i茅台平台设置了"门店自提"与"快递配送"两种发货方式。笔者在成都自营店咨询了前 来提货的消费者，在他看来，将选择权交给消费者，凸显了茅台对消费者体验的深度思考，门店自提提 供了一种仪式感，强化了线下体验，快递配送则提供了便利性。 两种提货方式的并存，体现了茅台推进线上线下一体化的战略思维。 2026年1月1日起，到"i茅台"购买500ml飞天茅台，成为酒圈最关心的话题。在线上热卖的同 ...