今天，A股窄幅整理，AI应用概念集体爆发，带动传媒板块大涨。 AI语料、短剧互动游戏、Sora概念等位于涨幅榜前列。其中，中文在线"20CM"涨停；传媒板块大涨，读客文化、捷成股份等多股涨停。 近日，字节跳动新一代视频生成模型内测版Seedance 2.0爆火出圈，成为网络关注焦点。Seedance 2.0的大火，让人想起去年春节前后DeepSeek的出圈。网 友热议："去年DS（DeepSeek），今年SD！" AI应用概念集体走强 今日上午，AI应用概念集体走强，中文在线"20CM"涨停。 近日，字节跳动新一代视频生成模型内测版Seedance 2.0在网络大火，冲上微博热搜。 此外，创新药板块走高，海翔药业实现"3连板"；半导体、光纤等板块盘中拉升。 截至上午收盘，上证指数下跌0.02%，深证成指下跌0.02%，创业板指下跌0.14%。 Seedance 2.0在功能层面取得的突破，对于AI视频生成领域有着重要的催化意义。中银证券表示，AI漫剧等的生成成本、技术门槛均显著降低，生产效率 得到有效提升，并且多模态生成对于算力需求较大，这使得上游硬件基础设施也有望同步受益。大模型"春节档"带来密集产业催化， ...

Core Insights - International investors are increasingly looking at Chinese assets as a diversified source of returns amid heightened volatility in the US stock market [1] - Foreign institutions like BlackRock, Fidelity International, Manulife Investment, and Legg Mason expect a gradual shift in global asset allocation away from a heavy concentration on US dollar assets towards a more diversified approach over the next 3 to 5 years [1][2] Group 1: Investment Trends - BlackRock's China head emphasizes the need for a systematic layout across regional, strategic, and thematic allocations to build resilient investment portfolios in response to high volatility and low yields [2] - The demand for global allocation from Chinese investors is rising, and foreign interest in the Chinese market is also increasing due to China's economic resilience and unique market characteristics [2][3] - Fidelity International notes that the Chinese market is regaining vitality, supported by consumption, real estate stabilization, and structural reforms, which are expected to attract more domestic and international investments [3] Group 2: Sector Focus - Foreign institutions are shifting their focus from valuation expansion to profit-driven growth in Chinese equity assets, particularly in technology, electric power equipment, healthcare, and undervalued traditional industries [4] - BlackRock identifies electric power as a high-certainty investment area due to its significant advantages in AI-related applications, while healthcare is seen as an overlooked sector with potential for stable growth driven by AI [4] - Manulife Investment anticipates diverse investment opportunities in China by 2026, focusing on technology, manufacturing, renewable energy, healthcare, and emerging consumer sectors [5] Group 3: Market Strategies - In a volatile market, active rebalancing is recommended over static allocation strategies, with evidence suggesting that quarterly or semi-annual rebalancing yields better long-term results [6] - Fixed income investors are encouraged to explore new return sources or strategies to mitigate reliance on low yields, including short-term trading and credit exploration [6] - The "fixed income plus" strategy is highlighted as a crucial tool for balancing risk and return, with a focus on maintaining fixed income assets as a foundation while selectively increasing exposure to volatile assets for enhanced overall returns [6]

作为未来产业之一，生物制造赛道近期多点开花、动能充沛。政策层面持续加码，上海市近期印发行动 方案，将生物制造纳入积极引导的新兴产业领域，确立其战略优先级；企业端积极发力，富祥药业 （300497）通过成立跨国合资公司推进微生物蛋白全球化布局；科研前沿同步突破，"合成高等生物"先 导项目启动，AI驱动下的生命科学创新持续深化，多方协同发力激活万亿产业新潜力。 ● 本报记者 傅苏颖 万亿赛道根基渐牢 近年来，政策高度聚焦产业化落地与技术突破，形成多层次支撑体系，促进我国生物制造产业蓬勃发 展。 工信部此前披露，"十四五"期间，我国生物制造产业规模稳步扩大，总规模达1.1万亿元，生物发酵产 品产量占全球70%以上。其中食品及添加剂、生物制药等细分领域年产值超4000亿元，推动生物制造成 为新的经济增长点。易凯资本预测，到2030年，中国生物制造市场规模将会接近1.8万亿元。 富祥药业同样聚焦微生物蛋白细分赛道。公司相关负责人对中国证券报记者表示，依托长期深耕高端抗 生素发酵领域的积累，公司拥有成熟的微生物发酵工艺、规模化生产能力及严格质控体系，微生物蛋白 项目在发酵调控、工艺放大等环节，与传统医药发酵业务具备显著技 ...

"证券公司学习宣传贯彻党的二十届四中全会精神"系列报道 连续6年稳居河北省内公司债券承销规模榜首，积极助力地方金融结构完善与实体经济血脉畅通，资产 管理业务与财富管理业务不断发力优化居民财富配置……在辽阔的燕赵大地上，财达证券正以实际行 动，书写金融报国、助力区域经济高质量发展的答卷。 "作为河北省本土上市券商，服务河北既是财达证券与生俱来的责任和使命，也是公司战略聚焦的核心 能力与独特优势。"日前在接受中国证券报记者专访时，财达证券党委书记、董事长张明向记者详细介 绍了公司以党建为引领、以报国为使命、以特色求发展的战略思考与实践方向。 回首近24年的发展之路，财达证券通过发挥在债券承销、资产管理及财富管理等领域的专业优势，以创 新投融资工具驱动传统产业升级，扎实服务发展新质生产力的国家战略；展望"十五五"这一推进中国式 现代化、加快建设金融强国的关键时期，财达证券将继续以金融报国的初心、专业专注的恒心和改革创 新的决心，全面提升服务实体经济的效能，以昂扬的姿态奋力开创高质量发展新局面。 公司供图 从融资端看，财达证券投行业务通过发挥债券承销专业优势，将金融资源注入区域实体经济关键领域， 以创新融资工具驱动传 ...

"最近，不少老客户反馈说，来银行网点办理业务的体验更好了。比如，不用在集中的座位区人挨着人 等待被叫号，而可以像在咖啡馆那样闲坐，喝点咖啡、从阅览区拿本书读一读。"郭雅丹边介绍边带记 者观看了大堂内圆桌式等候区和半封闭式业务窗口的全新设计。这些设计更加注重客户个人信息保护， 加入更多人文关怀元素。 "现在的银行网点有点儿像'变形金刚'，功能远超办理业务范畴。"刘斌介绍，银行网点不仅是金融场 所，更是"家门口服务站"，助力解决好政策传导的"最后一公里"。比如，2025年，农行海淀支行联合北 京市海淀区医疗保障局，推出"医保服务站 银行教您办"服务模式，通过专题培训、网点共建、厅堂指 导等多元形式，将医保服务延伸至群众"家门口"。 "银行网点的大堂经理可以解答52项医保服务咨询，还会帮助市民解答一些细节问题，比如异地就医是 否能补办、医保的报销制度流程、社区拿药的分配比例等。银行工作人员可以协助市民完成服务事项清 单中的线上业务操作，让医保业务办理更加便捷高效。"刘斌说，"银行网点还配备了第三代社保卡制卡 机，为换发人群提供制卡领卡'一站式服务'。海淀支行还为特殊人群提供上门服务，切实将金融服务'送 进门'。" ...

Core Insights - The article highlights the rapid transformation of a dilapidated building in Beijing's Xicheng District into a modern residential complex, showcasing China's construction speed and urban renewal efforts [1][2]. Group 1: Project Overview - The 28th building in Sanlihe District, built in 1978, underwent significant renovations due to its deteriorating condition, which included plumbing issues, structural cracks, and lack of elevators [2][3]. - The project commenced on September 5, 2025, and remarkably completed the entire construction process in just six months, from resident relocation to receiving property certificates [2][3]. Group 2: Approval and Construction Efficiency - The project implemented a fully online approval process, achieving a 90% reduction in overall approval time compared to standard timelines, with key permits issued within a single day [3]. - The construction utilized a modular approach, with 90% of the building's components manufactured in a factory setting, leading to a 75% reduction in construction time compared to traditional methods [6][7]. Group 3: Technological Innovations - The project employed smart construction technology, specifically the MiC (Modular Integrated Construction) method, which allowed for high precision in assembly and significant reductions in waste and material loss [6][7]. - The new building features advanced amenities, including soundproof windows and smart home systems, enhancing the living experience for residents [4][5]. Group 4: Broader Implications - The successful execution of this project serves as a model for urban renewal in major cities across China, demonstrating the potential for similar initiatives in other urban areas [7].

Core Viewpoint - The demand for MLCCs is surging due to the AI boom, leading to significant price increases and a positive market response, particularly for high-end products [1][2][5] Group 1: Price Trends and Market Response - Korean MLCC spot prices have risen nearly 20%, with expectations for continued increases in the short term [1][2] - Major MLCC manufacturers like Samsung Electro-Mechanics have seen stock prices rise significantly, with increases of over 11% this year [2] - The revenue of Samsung Electro-Mechanics reached a record high in Q4 2025, with a 22% year-on-year growth in its components division, which includes high-voltage and high-capacity MLCCs [3] Group 2: Supply and Demand Dynamics - The explosive growth in AI server demand is driving the need for high-end MLCCs, which are essential for stabilizing power supply and filtering interference signals in electronic devices [2][6] - High-end MLCCs are in short supply, with manufacturers like Murata Manufacturing and Samsung Electro-Mechanics operating at over 80% capacity [2] - AI servers require 3 times more MLCCs than standard servers, leading to a significant increase in demand [2][6] Group 3: Competitive Landscape - The top five global MLCC manufacturers, including Murata, Samsung Electro-Mechanics, and Taiyo Yuden, hold over 80% of the market share [4] - Chinese manufacturers have established a relative advantage in the mid-to-low-end MLCC market but are lagging in high-end product development [4] - Domestic companies like Sanhua Group and Fenghua Advanced Technology are accelerating their entry into the high-end market, focusing on sectors such as 5G, AI servers, and automotive electronics [4] Group 4: Industry Outlook and Segmentation - The MLCC industry is currently in an upward cycle, with a historical cycle lasting about 4 to 5 years [5] - The demand for high-end MLCCs is expected to explode due to AI applications, while traditional consumer electronics are facing a downturn [6] - The market for AI servers is projected to grow at an annual rate of 30%, with the MLCC market for AI servers expected to reach 3.3 times its 2025 size by 2030 [6][7]

生物制造是国家战略科技力量重要组成部分，也是推动产业绿色低碳转型的核心引擎之一。作为A股合 成生物学龙头，凯赛生物深耕该领域二十余年，凭借核心技术与产品构筑竞争优势。 凯赛生物总裁杨晨日前在接受中国证券报记者专访时表示，生物制造的核心价值是用绿色高效工艺打破 传统石化路径局限。凯赛生物自成立以来，专注于以生物技术开发化学品，打造低成本、高性能生物基 新材料，赋能下游产业升级，联动构建产业协同生态，推动生物制造产业规模化发展。 助力下游产业实现绿色变革 凯赛生物始终以生物技术和工艺开发化学品，其商业价值核心是通过生物制造工艺路线打造低成本的同 类化学产品。 "与传统石化工业及产品不同，生物制造以生物转化为核心生产过程，不仅反应温和、处于常温常压条 件，且无需使用重金属催化剂，同时可采用可再生植物或生物质废弃物作为原料，这不仅极大降低了对 石油、煤炭等不可再生化石资源的消耗，生产过程也更具低能耗、绿色环保、可持续的优势。"杨晨表 示。 谈及产品布局，杨晨表示，公司开发的系列生物法长链二元酸、生物基戊二胺产品，是生物制造行业的 典型。依托两大核心单体，公司延伸开发的系列生物基聚酰胺及复合材料承袭了生物制造的综合优势 ...

《银行保险机构资产管理产品信息披露管理办法》将从9月1日起施行，理财行业由此迎来一轮调整 业绩比较基准的浪潮。近期，多家理财公司将旗下多款产品的业绩比较基准类型由原先的区间型转换为 挂钩指数型，旨在推动业绩比较基准更及时地反映市场变化，减少未来因市场波动引发的被动调整。然 而，如何在有限的时间内完成大量产品的业绩比较基准重构？如何让普通投资者理解并接受从"直观区 间"到"动态指数"的转变？在这场转型中，理财公司面临着系统、人力资源、信息披露与投资者教育的 多重考验。 理财产品密集"换锚" 招银理财、兴银理财、恒丰理财等多家理财公司近日密集调整旗下多只理财产品的业绩比较基准， 将原本的区间型基准替换为挂钩指数型基准，涉及产品包括日开型、滚动持有型、最短持有期型、定开 型等类型固收类理财产品。 例如，招银理财于2月5日发布公告称，将"招睿日开30天滚动持有1号"的业绩比较基准，从年化收 益率2.00%-3.70%，调整为"30%×中国人民银行活期存款利率+70%×中债0-3个月国债财富（总值）指数 收益率"，变更将从3月10日起生效。 针对这一调整，招银理财在公告中给出了详细测算说明：以产品投资固定收益类资产不低 ...

连续6年稳居河北省内公司债券承销规模榜首，积极助力地方金融结构完善与实体经济血脉畅通，资产 管理业务与财富管理业务不断发力优化居民财富配置……在辽阔的燕赵大地上，财达证券（600906）正 以实际行动，书写金融报国、助力区域经济高质量发展的答卷。 "作为河北省本土上市券商，服务河北既是财达证券与生俱来的责任和使命，也是公司战略聚焦的核心 能力与独特优势。"日前在接受中国证券报记者专访时，财达证券党委书记、董事长张明向记者详细介 绍了公司以党建为引领、以报国为使命、以特色求发展的战略思考与实践方向。 回首近24年的发展之路，财达证券通过发挥在债券承销、资产管理及财富管理等领域的专业优势，以创 新投融资工具驱动传统产业升级，扎实服务发展新质生产力的国家战略；展望"十五五"这一推进中国式 现代化、加快建设金融强国的关键时期，财达证券将继续以金融报国的初心、专业专注的恒心和改革创 新的决心，全面提升服务实体经济的效能，以昂扬的姿态奋力开创高质量发展新局面。 ● 本报记者 胡雨 党建引领文化聚力 凝心铸魂共谋发展 火车跑得快，全靠车头带。从注册资本2.3亿元的河北财达证券经纪有限责任公司起步，经过近24年发 展，如今的 ...