Core Viewpoint - The company aims to transition from a leading domestic enterprise to a globally influential player in the automation equipment sector, focusing on becoming a foundational supplier for global intelligent equipment during the "14th Five-Year Plan" period [1]. Group 1: Strategic Focus on Automation Equipment - The company, established in 2010, specializes in the research, production, and sales of factory automation components, providing a one-stop supply for these parts [2]. - It categorizes components into three types: core brand components (FX), standard components (FA), and non-standard structural parts (FB), employing different strategies for each to meet diverse customer needs [2]. - The company has developed a comprehensive product system covering 199 major categories, 4,573 subcategories, and 258 stock-keeping units (SKUs) of factory automation components by June 2025 [3]. Group 2: Embracing Digital Transformation - The company is actively exploring AI technology applications in the intelligent equipment sector, significantly improving efficiency and accuracy in quoting processes [4]. - It has established flexible production line planning based on manufacturing processes, enhancing production capacity and automated processing capabilities for individual parts [5]. - The company aims to become a supplier of robot components, continuously expanding its market presence in line with new industry scenarios [5]. Group 3: Global Expansion Strategy - The company views overseas market development as a crucial part of its overall strategy, planning to enhance its global presence and service capabilities [7]. - It has been expanding its overseas operations for the past two to three years, achieving positive progress and aiming to further increase its global market influence [7]. - The company is committed to becoming a trusted infrastructure supplier for global intelligent equipment as Chinese manufacturing accelerates its international outreach [7].

日前，鹿山新材正式发布离电型温压双模态电子皮肤，引发业内广泛关注。鹿山新材董事长汪加胜在接 受中国证券报记者采访时表示，"十五五"时期公司将聚焦柔性显示、电子皮肤与固态电池三大高成长性 赛道，致力于成为人形机器人及智能终端产业关键材料与解决方案的核心供应商。 "此次电子皮肤发布的背后，是鹿山新材20多年来在功能材料领域的持续深耕和积累，也是公司面向智 能时代，从功能材料供应商向解决方案提供者转型的坚定一步。"汪加胜表示。 鹿山新材离电型电子皮肤 公司供图 正式发布离电型电子皮肤 1月15日，鹿山新材在广州举行主题为"触见未来，智感新生"的电子皮肤发布会，发布新一代离电型双 模态电子皮肤，机器人产业链上下游企业代表、科研机构学者等各界人士参会，共同探讨具身智能触觉 技术创新与发展前景。 据介绍，鹿山新材最新发布的电子皮肤采用"压力-温度"双模态集成传感技术，能同时捕捉压力与温度 的变化，提供更丰富的环境信息。相比传统的电容式和压阻式传感器，离电型电子皮肤具备高灵敏度和 高信噪比优势，对指尖轻触、脉搏跳动等微小力十分敏感，且能够保持信号清晰稳定。 同时，离电型电子皮肤使用的材料柔软可拉伸，能够紧密贴合机器人关节、 ...

Core Insights - The analysis by the National Taxation Administration indicates that by 2025, the sales revenue of China's manufacturing industry will grow 1.7 percentage points faster than the overall national sales growth rate, with manufacturing accounting for 29.7% of total sales, an increase of 0.5 percentage points from the previous year [1][2] Group 1: Intelligent Upgrading - The implementation of the "Artificial Intelligence + Manufacturing" initiative is accelerating, with manufacturing enterprises expected to increase their purchases of automation and digital equipment by 11.3% and 10% year-on-year, respectively, by 2025 [1] - The intelligent transformation and digital upgrade of the manufacturing sector are driving the development of related industries, with sales revenue in the intelligent equipment manufacturing sector projected to grow by 28.1% year-on-year, including a 17.4% increase in industrial robots and a 42.1% increase in special operation robots [1] Group 2: Green Transformation - The sales revenue of high-energy-consuming manufacturing industries is expected to decrease by 1.1 percentage points as a proportion of total manufacturing revenue, indicating ongoing optimization of the industrial structure [2] - Manufacturing enterprises are increasing their investment in environmental governance services, with a year-on-year growth of 7.3%, and high-energy-consuming sectors seeing a 14.6% increase in such expenditures [2] - The renewable energy sector is rapidly developing, with sales revenue in the new energy vehicle manufacturing and lithium-ion battery manufacturing industries expected to grow by 14.3% and 25.1% year-on-year, respectively [2] Group 3: Digital Integration - The sales revenue of digital product manufacturing is projected to grow by 9.4% year-on-year, with manufacturing enterprises increasing their procurement of digital technologies by 10.4%, an acceleration of 3.5 percentage points compared to the previous year [2] - Specific sectors such as automotive manufacturing and computer communication equipment manufacturing are expected to see significant increases in digital technology procurement, with year-on-year growth rates of 24.5% and 11.8%, respectively [2]

Core Viewpoint - The demand for the Year of the Horse commemorative coins and notes is extremely high, leading to significant price premiums in the secondary market, while online reservations are facing challenges due to overwhelming demand [1][2][5]. Group 1: Market Dynamics - The online reservation system for the Year of the Horse commemorative coins and notes has been overwhelmed, with many users reporting that the available quotas are exhausted within minutes [2]. - In the secondary market, the price for a 20 yuan commemorative note has reached 36-40 yuan, while a 10 yuan coin is being bought back at 13-16 yuan, indicating a notable premium [1][2]. - The market is characterized by a significant price premium for specific serial numbers, with "lucky" numbers fetching even higher prices, such as over 100 yuan for certain patterns [2][3]. Group 2: Consumer Behavior - There is a growing interest in beautifully packaged commemorative coin and note gift sets, with prices for these sets reaching around 70-110 yuan depending on the included items [3]. - Consumers are increasingly purchasing these commemorative items for gifting purposes, especially during the festive season, despite rising gold prices affecting other gift choices [3]. Group 3: Investment Considerations - Industry experts caution against speculative trading of commemorative coins and notes, emphasizing that their collectible nature outweighs their investment potential [4]. - The market price of commemorative coins and notes is influenced by factors such as scarcity, cultural significance, and market demand, with a noted difference in premium rates compared to other collectible notes like the Long note [4][5].

Core Viewpoint - The Ministry of Finance has announced an optimization of the personal consumption loan interest subsidy policy, which includes expanding the scope of eligible loans and extending the policy period until the end of 2026, allowing each borrower to receive a maximum subsidy of 3000 yuan [1][2]. Group 1: Policy Changes - The new policy includes the inclusion of credit card installment payments in the subsidy support range and the removal of previous restrictions on certain consumption areas [1][2]. - The subsidy limit for individual borrowers has been increased to 3000 yuan per year, with the previous limits on single transaction amounts and total loan amounts being removed [2]. - The policy now allows for subsidies on all types of consumption loans, not just those in specific categories such as home appliances or education [2]. Group 2: Implementation and Participation - Major banks, including Agricultural Bank, Bank of China, and others, have begun to implement the new subsidy measures, with over 500 financial institutions now eligible to process these loans [1][2]. - The implementation period for the credit card installment subsidy is set for the entire year of 2026, and customers can apply for retroactive subsidies for transactions made between January 1, 2026, and the announcement date [3][4]. Group 3: Consumer Guidance - Banks have emphasized that there will be no fees charged for processing personal consumption loans and credit card installment subsidies, and they will not work with third-party intermediaries [5][6]. - Customers are advised to apply for loans through official channels and to be cautious of fraudulent activities related to loan applications [6].

Core Insights - Artificial intelligence (AI) is driving significant growth in the industrial economy, with the core AI industry expected to exceed 1.2 trillion yuan by 2025 [1][2] - The National AI Industry Investment Fund, with a scale of 60 billion yuan, will enhance support for humanoid robots, aiming to stimulate the broader embodied intelligence industry [1][6] Group 1: AI Industry Development - By 2025, the number of AI companies in China is projected to surpass 6,000, with a core industry scale expected to exceed 1.2 trillion yuan [2] - The domestic AI computing power has reached 1,590 EFLOPS, ranking among the top globally, supporting rapid development in the AI sector [2] - AI applications have penetrated over 70% of business scenarios in leading factories, with more than 6,000 vertical models developed [4] Group 2: Humanoid Robots - The humanoid robot sector is anticipated to see over 140 companies and more than 330 products by 2025, marking a significant evolution in the industry [6] - Current humanoid robots can perform basic functions such as standing, walking, and running, transitioning from performance settings to practical applications in homes and factories [6] - The Ministry of Industry and Information Technology will focus on technological innovation and safety in humanoid robots, enhancing quality and security measures [6] Group 3: Future Directions - Five key directions for promoting high-quality AI industry development include technological innovation, application integration, enterprise cultivation, ecosystem construction, and safety governance [3] - The government aims to establish more intelligent factories, with over 35,000 basic-level and 500 excellent-level factories already built [4] - The focus will be on expanding the scale of intelligent manufacturing and supporting leading enterprises in exploring future manufacturing models [4]

重要新闻提示 工信部：2025年我国人工智能核心产业规模预计突破1.2万亿元 央行：加快建设人民币跨境支付体系，推进跨境支付互联互通，推动跨境支付体系多元化、多层次发展 金安国纪：2025年净利润同比预增656%—871% 今日提示 国新办1月22日就加快农业农村现代化，扎实推进乡村全面振兴有关情况举行新闻发布会 3. 中国人民银行1月21日消息，中国人民银行日前召开2026年支付结算工作会议。会议要求，2026年支 付结算工作要紧密围绕"十五五"规划和金融强国建设目标，推动现代化支付体系高质量发展。加快建设 人民币跨境支付体系，推进跨境支付互联互通，推动跨境支付体系多元化、多层次发展。严格实施支付 机构穿透式监管和支付业务功能监管，充分发挥行政、自律互补作用，塑造合规致远的行业健康生态。 4. 1月21日，沪金主力合约突破1100元/克整数关口，盘中最高冲至1101.92元/克，续创历史新高。截至 收盘，沪金报1092.3元/克，涨3.69%。 公司新闻 1. 上市公司业绩 金安国纪：2025年度预计归属于上市公司股东的净利润为2.8亿元—3.6亿元，比上年同期增长655.53% —871.4%。公告显示， ...

1月18日，上海富友支付服务股份有限公司（简称：富友支付）向香港联交所主板递交上市申请书。 富友支付表示，本次IPO募集资金主要用于通过差异化的创新解决方案增强产品组合；投资技术平台及基础设施；进一步扩展支付网络及深化与生态系统 合作伙伴的关系；拓展海外业务；营运资金及一般公司用途。 曾谋求A股上市 招股书显示，富友支付成立于2011年，是中国多领域的全能型数字化支付科技平台，在多元化商业场景下为不同规模及不同行业的客户提供多渠道支付服 务以及管理和其他增值服务。 富友支付尝试港股IPO始于2024年4月。2024年4月，富友支付首次向香港联交所主板递交招股书，计划在此挂牌上市，但随后招股书失效。2024年11月和 2025年5月，富友支付又接连向港股发起上市申请，但最后均失效。 | 上海富友支付服務股份有限公司 | 失效 | | --- | --- | | 09/05/2025 整體協調人公告 - 委任 [四 | | | 09/05/2025 申請版本（第一次呈交）全文檔案 [四] 多檔案 | | | 上海富友支付服務股份有限公司 | 失效 | | 08/11/2024 整體協調人公告 - 委任 PDF | ...

当地时间1月21日，美股三大指数全线收涨。美股大型科技股多数走高，中概股表现活跃。 当地时间1月21日，美元指数小幅上行，国际油价小幅攀升。伦敦金现货盘中最高触及4888.43美元/盎司，COMEX黄金盘中最高触及4891.1美元/盎司。伦 敦银现货、COMEX白银下跌。 消息面上，据新华社报道，美国总统特朗普1月21日在社交媒体发文称，他已经同北约秘书长吕特就未来达成有关格陵兰岛的协议制定了框架，因此不会 实施原定于2月1日生效、对欧洲8国加征关税的措施。 美股三大指数齐涨 截至当地时间1月21日收盘，美国三大股指全线上涨。数据显示，道指涨1.21%，标普500指数涨1.16%，纳指涨1.18%。 美国大型科技股多数上涨，美国科技七巨头指数上涨0.98%。特斯拉、英伟达均涨超2%，谷歌涨近2%，META涨超1%，苹果涨0.39%，亚马逊涨0.13%， 微软跌超2%。 特朗普称已就格陵兰岛制定协议框架 不会对欧洲加征关税 据新华社报道，美国总统特朗普1月21日在社交媒体发文称，他已经同北约秘书长吕特就未来达成有关格陵兰岛的协议制定了框架，因此不会实施原定于2 月1日生效、对欧洲8国加征关税的措施。 特朗普当天 ...

Core Viewpoint - Ping An Securities is committed to supporting national strategies and enhancing new productive forces through innovative financial services, as highlighted by its pioneering roles in various financial instruments and products [1][2]. Group 1: Commitment to National Strategy - The company emphasizes its mission to serve national strategies and enhance new productive forces, aligning its services with the development of the real economy [1][2]. - Ping An Securities has established a management framework to implement the "Five Major Financial Articles," focusing on technology and green finance [2][3]. Group 2: Financial Services and Product Innovation - The company is transforming from a traditional intermediary to a value co-creator, optimizing its business structure and financial product offerings [2][3]. - Ping An Securities has developed a comprehensive service capability system that includes a multi-layered financing toolbox combining equity, debt, and asset securitization [3][4]. Group 3: Achievements in Financial Instruments - In 2025, Ping An Securities led the issuance of the first data asset ABS in China and the first technology innovation green corporate bond in Tianjin, providing low-cost funding for green transformation [4][5]. - The company has achieved a total equity underwriting scale of 3 billion yuan and has underwritten 97 technology innovation corporate bonds and ABS, amounting to 24.3 billion yuan [5]. Group 4: Wealth Management and Investor Services - Ping An Securities is focused on transforming its wealth management services to meet the growing demand for standardized financial assets and professional management [6][7]. - The company has implemented a three-dimensional inclusive finance system that includes product, service, and education components to enhance investor welfare [8]. Group 5: Strategic Goals and Future Directions - The company aims to strengthen its core competitiveness by enhancing its professional service capabilities and transitioning to a comprehensive financial solution provider [9][10]. - Ping An Securities is committed to risk management and compliance, ensuring a stable development foundation while fostering business innovation [10][11].