涨停表现 封板率 12月26日，市场早盘冲高回落，三大指数盘中集体跳水翻绿。沪深两市半日成交额1.45万亿，较上个交易日大幅放量2513亿。 盘面上热点快速轮动，全市场超3900只个股下跌。截至收盘，沪指跌0.19%，深成指涨0.17%，创业板指跌0.15%。 从板块来看，锂电产业链快速走强，天际股份4天3板，宏源药业、永兴材料等多股涨停。商业航天概念反复活跃，神剑股份7连板，九鼎新材4连板，佳缘科 技、中超控股涨停。光伏概念局部拉升，协鑫集成、亿晶光电涨停。海南自贸概念表现活跃，海南发展6天5板。下跌方面，算力硬件概念表现较弱，长光华 芯跌超10%。 60.00% 封板 51 触及 34 昨涨停今表现 2.07% 高开率 61% 获利率 ...

Core Viewpoint - The prices of gold and silver have reached historical highs, driven by multiple factors including monetary policy changes and geopolitical risks [1][3]. Gold Market Summary - On December 26, spot gold prices peaked at $4,531.284 per ounce before settling at $4,502.44, reflecting a 0.51% increase [1]. - The recent surge in gold prices is attributed to three main factors: the Federal Reserve's resumption of a loose monetary policy, a decline in the credibility of the US dollar, and escalating global geopolitical risks [3]. - Despite the current high prices, there are concerns about potential market bubbles as gold prices exceed short-term valuation models [3]. - The bullish trend in gold is expected to continue as the Federal Reserve's policies and the US economy have not yet shown signs of a turning point [3]. Silver Market Summary - Spot silver prices reached a high of $75.142 per ounce, currently trading at $74.584, marking a 3.86% increase [1][2]. - The silver market is characterized by its smaller scale and sensitivity to industrial demand, making it more reactive to investment and speculative activities [4]. - A significant indicator of physical silver shortages is the one-year silver swap rate, which has dropped to -7.18%, indicating a premium for immediate physical delivery over future contracts [4]. - This inversion suggests that investors are prioritizing physical silver over paper contracts, leading to a potential "run" on the physical silver market [4][5]. - As long as the shortage persists, the upward trend in silver prices is likely to continue [5].

Core Viewpoint - The public fund industry is undergoing significant reforms, with the introduction of strict sales regulations that prohibit the promotion of fund size and growth, leading to considerable debate within the industry [1] Group 1: Regulatory Changes - The recent release of the "Sales Behavior Norms for Publicly Raised Securities Investment Funds (Draft for Comments)" is considered the strictest sales regulation in history, particularly prohibiting the promotion of fund size and growth [1] - The new regulations are part of a broader initiative aimed at high-quality development in the public fund sector, with multiple new rules being discussed since the second half of this year [1] Group 2: Industry Reactions - Marketing personnel from fund companies expressed shock at the new regulation, noting that fund size is a critical indicator of product competitiveness and investor awareness [2] - Concerns were raised that smaller funds may lead to higher unit costs and greater tracking errors, impacting investor decision-making [2] Group 3: Importance of Fund Size - Fund size is seen as a reflection of market consensus and acceptance of the investment strategy, with larger ETFs typically offering better liquidity and narrower bid-ask spreads [3] - A larger asset base can dilute fixed operational costs, benefiting long-term investors by maintaining lower and more stable fee rates [4] Group 4: Transparency and Investor Rights - The prohibition on promoting fund size may undermine the transparency advantage of ETFs, which are valued for their clear investment objectives and operational transparency [5] - Fund size and its changes are considered essential information for investors, influencing their decisions and reflecting market activity in specific sectors [4][6] Group 5: Potential Challenges - The regulation may create confusion if it restricts the use of publicly available size data in promotional materials, leading to questions about regulatory consistency [6] - Fund companies may need to explore alternative metrics for promotion, such as trading volume and turnover rates, which could still relate to fund size [6]

Core Insights - Tesla's stock price reached an all-time high this month, driven by investor optimism about its potential to dominate the emerging robotaxi market, valued at trillions of dollars [1] - However, Tesla faces intense competition, particularly from Waymo, which has a significant head start in the autonomous taxi sector [2][3] Group 1: Competition Landscape - Tesla has deployed approximately 30 robotaxis in Austin since June, while Waymo has around 200 vehicles operating in the same area and over 2,500 across multiple cities [1][2] - Waymo has completed 14 million paid rides this year and plans to expand to 20 more cities by 2026, highlighting its operational scale compared to Tesla [3] - Tesla's robotaxis require a safety driver, while Waymo's vehicles operate without human oversight, indicating a technological and operational gap [2] Group 2: Technological Challenges - Tesla's reliance solely on cameras for its autonomous driving system may hinder its ability to catch up with competitors that utilize radar and lidar, which enhance vehicle performance [7] - Experts express skepticism about Tesla's proximity to achieving a fully autonomous system, citing limitations in its current technology [7] Group 3: Financial Implications - Analysts question whether the robotaxi business can generate the trillions in revenue predicted by Tesla's CEO, noting that significant consumer behavior changes would be necessary for such growth [8] - The costs associated with monitoring and maintaining autonomous vehicles could limit profitability in the industry [8] Group 4: Regulatory and Safety Concerns - Both Tesla and Waymo have been involved in minor accidents, raising questions about the safety of autonomous vehicles [9] - Regulatory changes in Texas require companies to obtain permits before operating, reflecting growing concerns about the pace of autonomous vehicle deployment [10] Group 5: Market Perception - Some investors are willing to be patient with Tesla's progress, as long as the company is moving in the right direction, despite past delays in meeting ambitious targets [6] - Public sentiment is mixed, with some residents feeling safer in autonomous vehicles compared to human drivers, while others remain skeptical [11]

12月26日，现货白银突破75美元/盎司，日内涨超4.5%，续创历史新高。 ...

Core Viewpoint - China Jinmao has sold its Ritz-Carlton hotel in Sanya for 2.265 billion yuan, aiming to optimize asset utilization through this transaction [1][2]. Group 1: Transaction Details - The transaction involves Shanghai Jinmao Investment Management Group signing a property transaction contract with Sanya Luanmao Hotel Management Co., Ltd. on December 23 [1]. - Sanya Luanmao will acquire 100% equity of Sanya Travel Industry from Shanghai Jinmao for 2.265 billion yuan [1]. - Sanya Travel Industry, established in March 2004 with a registered capital of 500 million yuan, owns the Ritz-Carlton hotel in Sanya, which has 446 rooms and has been operational since 2008 [1]. Group 2: Strategic Intent - The sale is part of China Jinmao's strategy to activate existing assets through asset securitization, maximizing valuation benefits [2][3]. - The company previously announced its intention to sell 100% equity of Sanya Travel Industry for asset securitization purposes [2]. Group 3: Financial Context - The asset-backed securities plan managed by CITIC Securities has issued approximately 2.269 billion yuan in securities, with proceeds used to acquire Sanya Travel Industry [3]. - Shanghai Jinmao has subscribed to 4% of the asset-backed securities, while the remaining 96% is held by various institutional investors, ensuring no single entity has actual control [3]. Group 4: Broader Financial Activities - China Jinmao has engaged in significant financing activities throughout the year, including a loan of 8.69 billion yuan secured against Beijing Kaichen World Trade Center [3]. - On November 26, the company signed a syndicated loan agreement with a consortium of state-owned banks for up to 9.9 billion yuan, primarily for refinancing existing debts [4]. - The company aims to maintain liquidity by leveraging various financing methods, especially in a challenging real estate market [4]. Group 5: Future Outlook - The chairman of China Jinmao indicated a focus on improving operational cash flow and revitalizing existing projects while transitioning to new performance metrics [5]. - The company reported a signed sales amount of 8 billion yuan in November 2025, with a total of 100.7 billion yuan in signed sales for the first eleven months of the year [5].

12月26日，现货白银跳空高开，突破73美元/盎司，再创历史新高，现报73.7美元/盎司。现货钯金日内 涨超2%，现报1728.79美元/盎司。 ...

本周早些时候，Waymo表示将对车队进行更新，使其自动驾驶出租车服务在停电期间具备更好的运行 能力。12月20日，Waymo曾在旧金山大停电期间暂停服务。那次停电导致当地数万人断电，并造成其 部分自动驾驶车辆在行驶途中停在路中间，从而加剧或直接引发了交通拥堵。 截至发稿，Waymo未就置评请求立即作出回应，也未说明其周四暂停服务是否因监管部门针对山洪预 警提出的要求。(作者/箫雨) 通知写道："由于美国国家气象局发布了山洪预警，服务暂时停止。"美国国家气象局已将整个旧金山湾 区的洪水监测延长至当地时间周五22点。 Waymo旧金山自动驾驶网约车 凤凰网科技讯北京时间12月26日，据CNBC报道，根据Alphabet旗下自动驾驶出租车公司Waymo在其网 约车应用上发布的乘客通知，为应对预期中的暴风雨，该公司在周四暂时停止了在旧金山湾区的自动驾 驶出租车服务。 ...

Meta目前提供多个研究类实习岗位，实习周期为12周至24周，月薪在7650美元至1.2万美元以上不等， 具体取决于经验和工作地点。研究方向包括神经渲染、自然语言处理、生成式建模以及计算机视觉等。 OpenAI驻留项目为期六个月，参与者将以全职员工身份加入公司，与研发团队共同开展前沿AI项目。 驻留人员将获得导师指导，参与正在进行的研究项目，并有机会在项目结束后转为正式员工。驻留期间 的月薪为1.83万美元。(作者/箫雨) OpenAI、Anthropic、谷歌DeepMind和Meta就通过一些薪资丰厚的实习、研究员及驻留项目吸引优秀人 才。 例如，谷歌已开放学生研究员项目的申请，持续至明年7月17日，采取一边申请一边审核的方式。该项 目面向美国本土的计算机科学及相关领域博士生，提供横跨多个团队的灵活项目制研究岗位，这些团队 包括谷歌DeepMind和谷歌研究。该职位的基本年薪在11.3万美元至15万美元之间，具体取决于工作地点 和个人经验。 凤凰网科技讯 北京时间12月25日，据《商业内幕》报道，在AI竞赛的背景下，原本不起眼的实习生岗 位如今也变得炙手可热。 头部AI公司正在竞相争夺全球顶级人才，不惜开 ...

在机身设计与工业堆叠方面，小米17 Ultra在硬件大幅升级的前提下实现了"瘦身"。机身厚度被压缩至 8.29mm，较上一代产品减薄超过1mm 。尽管机身变薄，该机依然内置了6800mAh的金沙江电池 ，支持 90W有线秒充及50W无线秒充 。机身正面采用6.9英寸2.5D直屏，覆盖第三代龙晶玻璃，抗跌落性能提 升20倍 。此外，新机支持IP68及IP69防尘防水标准，可应对高温高压喷水场景 。 凤凰网科技讯 12月25日 在今日晚间举行的新品发布会上，小米正式推出了其年度影像旗舰——小米17 Ultra。作为该系列的最新迭代产品，新机在光学系统、机身堆叠及跨生态互联方面进行了大幅升级。 新机起售价为6999元（12GB+512GB版本），并未提供256GB版本，直接以512GB大容量起步，并将于 12月27日上午10点正式开售。 影像系统依旧是该机的核心卖点。小米17 Ultra搭载了全新的一英寸"光影大师"主摄，引入了LOFIC超 高动态技术 。据官方介绍，该技术能显著提升传感器在明暗反差巨大场景下的表现，例如拍摄烟花、 逆光或灯光复杂的演唱会场景时，能有效抑制高光过曝并保留暗部细节，解决以往夜景拍摄中容 ...