临近春节，不少小微经营者抢抓消费旺季、加紧筹备新春开工。近日，网商银行宣布，为缓解小微经营 者融资慢、融资难、融资贵的难题，在全国工商联指导下，将于2月17日正月初一启动2026年新春助微 行动，依托AI技术识别小微经营者开工真实状况，为其快速提供免息额度支持，助力全国小微经营者 稳开工、促发展。 然而，传统信贷模式下，审批环节多、周期长，且多依赖固定资产抵押，难以适配小微经营者"额度 小、用款急、频次高"的信贷需求，不少小微经营者因资金无法及时到位，只能推迟开工计划、缩减经 营规模，甚至错失新春消费旺季。网商银行此次启动新春助微行动，正是希望以AI科技、免息额度等 为突破口，切实为小微经营者纾困解难。 深耕普惠信贷、助力小微成长，一直是网商银行的目标与特色。据悉，自2020年以来，在金融管理部门 的支持下，全国工商联会同中国银行业协会及网商银行等一起发起"助微计划"，至今已有超120家金融 机构加入。6年来，从"无接触贷款"，支持小微经营者复工复产，到稳就业、振乡村、兴科创等，助微 计划的内涵不断升级。 中国社会科学院大学教授、金融研究中心原主任李永森表示，小微经营者的顺利开工与稳定营业，关联 着无数个家庭 ...

2023年11月9日、2023年11月13日、2023年11月20日，公司分别披露了《关于公司实际控制人、董事、 高级管理人员被采取强制措施的公告》《关于公司实际控制人、董事、高级管理人员被采取强制措施的 进展公告》《关于公司实际控制人、董事长兼总经理正常履职的公告》，公司实际控制人陈坚因涉嫌操 纵证券市场被公安机关采取指定居所监视居住措施，后被取保候审。 2025年前三季度净利润同比下滑 正元智慧2025年半年报显示，公司长期深耕教育信息化，是智慧校园整体解决方案提供商及综合服务运 营商。智慧校园充分运用新兴ICT技术，构建物联中台、数据中台、AI中台、支付中台、认证中台、协 同中台，推出"数字基座+场景应用"的产品体系，打造多技术融合、多主体协同、多场景应用的智慧校 园综合服务解决方案。 公司2025年三季报显示，2025年前三季度，正元智慧实现营业收入约7.68亿元，同比增长2.35%；实现 归属于上市公司股东的净利润约682.66万元，同比下降31.99%。 2月13日晚，正元智慧（300645）披露关于实际控制人诉讼事项的进展公告。公司实际控制人陈坚犯操 纵证券市场罪，被判处有期徒刑三年，缓刑三年六 ...

Core Insights - ByteDance has launched Doubao Model 2.0, enhancing its AI capabilities across video and image generation, marking a significant upgrade in its AI offerings [1] Group 1: Model Features and Upgrades - Doubao Model 2.0 includes three versions: Pro, Lite, and Mini, designed to cater to various business scenarios, with Pro targeting deep reasoning and long-chain task execution [1] - The model has achieved significant advancements in multi-modal understanding, enterprise-level agent capabilities, and reasoning code abilities, marking a qualitative leap since its initial release in May 2024 [2] - Doubao 2.0 Pro has excelled in benchmark tests, achieving top scores in visual reasoning, perception, and long-context understanding [2] Group 2: Performance Metrics - Doubao 2.0 has shown enhanced long-range task execution capabilities, outperforming competitors like GPT-5.2 and Gemini 3 Pro in various assessments, including SuperGPQA and HealthBench [2] - The model scored 54.2 in HLE-text evaluations, leading globally, and surpassed Gemini 3 Pro in the International Mathematical Olympiad assessments [2][3] - Doubao 2.0 has improved instruction-following capabilities, maintaining strong consistency and controllability in multi-step tasks [3] Group 3: Cost Efficiency and Market Impact - The model has reduced reasoning costs significantly, with token pricing lowered by approximately an order of magnitude, making it more competitive in handling complex real-world tasks [3] - ByteDance is expanding the influence of Doubao through marketing activities, including a Spring Festival "red envelope" campaign to engage users with AI functionalities [3] - By the end of 2025, Doubao Model is projected to reach a daily token usage of 63 trillion, with over a million enterprises utilizing its services through the Volcano Engine [3]

下一步，中国人民银行将加强与金融监管总局、中国证监会、农业农村部等部门的协同配合，及时总结 常态化帮扶和乡村振兴金融服务工作特色经验做法，加强统计监测与考核评估，创新乡村振兴投融资机 制，助力守住不发生规模性返贫致贫底线，推进乡村全面振兴。 附件： 为深入贯彻落实党的二十大和二十届历次全会精神，落实《中共中央国务院关于统筹建立常态化防止返 贫致贫机制促进乡村全面振兴的意见》和《中共中央国务院关于锚定农业农村现代化扎实推进乡村全面 振兴的意见》部署要求，深入学习运用"千万工程"经验，加快构建过渡期后常态化金融帮扶机制，持续 提升金融支持的力度、精度和实效，扎实推进乡村全面振兴，推动城乡融合发展。近日，中国人民银 行、金融监管总局、中国证监会、农业农村部联合发布《关于统筹建立常态化金融支持机制助力防止返 贫致贫和乡村全面振兴的意见》（以下简称《意见》）。 《意见》提出，要健全重点人群开发式金融帮扶长效机制,调整优化脱贫人口小额信贷,完善农户小额信 用贷款政策，常态化支持防止返贫致贫对象发展。发挥金融助力产业帮扶带动作用，鼓励金融机构开发 特色优势产业贷款，有条件的地区可提高创业担保贷款额度上限。建立分层分类的欠发 ...

2月14日，泉果基金官宣新任总经理、财务负责人、副总经理等管理层人选。 | 基金管理人名称 | 泉果基金管理有限公司 | | --- | --- | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》《证 | | | 券基金经营机构董事、监事、高级管理人员及从 | | | 业人员监督管理办法》等相关法律法规 | | 高管变更类型 | 新任基金管理公司总经理 | | | 新任基金管理公司副总经理 | | | 新任基金管理公司合规负责人、风控负责人 | | | 离任基金管理公司合规负责人、风控负责人 | | 新任高级管理人员职务 | 总经理 | | --- | --- | | 新任高级管理人员姓名 | 李云亮 | | 是否经中国证监会核准取得高管任职 | l | | 资格 | | | 中国证监会核准高管任职资格的日期 | - | | 任职日期 | 2026-02-13 | | 过往从业经历 | 曾任重庆理工大学讲师,重庆证监局副调研员,西南证券股 份有限公司证券资管部总经理,金鹰基金管理有限公司副总 经理、督察长,深圳前海金鹰资产管理有限公司董事长,上 海东方证券资产管理有限公司合规负责人、首席风险官、首 ...

Core Insights - The future of robotics will focus on the capabilities of the "brain" rather than just the hardware, with companies like Yuanli Wuxian emphasizing the development of AI models and foundational platforms for embodied intelligence products [1][2] - Yuanli Wuxian has launched its first consumer-grade embodied intelligent robot, Xiaoyuanzi, which is designed to evolve continuously and features a universal peripheral interface for hardware upgrades [1][5] Group 1: Technological Development - The competition in robotics will increasingly center around software capabilities, specifically the "robot brain," as hardware becomes more standardized [2] - Yuanli Wuxian is focusing on three key dimensions to enhance robot performance: the ability to handle long-range tasks, the development of a self-learning multi-modal model (Hyper-VLA), and the creation of a causal world model for reasoning about unexpected physical events [2][3] - A recent paper by Yuanli Wuxian's research team proposes a new solution to the "catastrophic forgetting" problem, enabling robots to learn multiple complex tasks without losing performance on previous tasks [3] Group 2: Product Strategy and Market Position - Yuanli Wuxian has established a dual approach to product deployment, focusing on rapid commercialization in specialized scenarios while nurturing general-purpose applications over the long term [5] - The FORCE series robots have been deployed in over 100 scenarios across more than 20 cities, generating stable cash flow and demonstrating the company's ability to address real-world challenges [5][6] - The newly launched Xiaoyuanzi robot, priced in the tens of thousands, has already received over 100 blind orders on its first day, with projected sales of 500 to 1,000 units by 2026 [6] Group 3: Long-term Vision and Financial Outlook - The embodied intelligence industry is still in its early stages, akin to the mobile phone industry in the early 2000s, with a focus on achieving autonomous operation in everyday environments [7] - Yuanli Wuxian prioritizes long-term technological leadership over immediate profits, with most current revenues reinvested into R&D [7] - The company anticipates reaching over 100 million yuan in revenue by 2026, supported by significant financing rounds and partnerships with both social capital and local state-owned funds [7]

Core Viewpoint - The A-share market is influenced by multiple factors, showing characteristics of valuation-driven and structural differentiation, with an upward trend expected to continue post-Spring Festival [1][2]. Market Dynamics - The A-share market is experiencing a clear upward trend supported by improving corporate earnings, increased willingness of residents to invest, and ongoing policies to optimize industry competition [2]. - Short-term market fluctuations are expected due to seasonal effects, particularly around the Lunar New Year, but the overall upward trend remains intact [2][4]. Market Structure Characteristics - Historical data shows that since 2009, the average spring market rally lasts 57 days with an average increase of over 20%, with value blue-chip sectors performing well before the Spring Festival [3]. - The equity market is currently in a bullish window until early March 2026, with a focus on risk management and strategic positioning [3]. Post-Spring Festival Outlook - The A-share market is anticipated to continue its upward trend post-Spring Festival, supported by macroeconomic recovery, stable policy environment, and regulatory measures to prevent overheating [4]. - There is potential for a "red envelope market" if consumer data exceeds expectations, reinforcing cyclical sector support [4]. Investment Strategies - The investment logic post-Spring Festival will focus on "value supporting growth," with a shift from low-risk to high-risk preferences, emphasizing technology and cyclical sectors [7]. - Five key investment themes are recommended: 1. AI industry chain focusing on application development and performance-driven investments [7]. 2. High dividend yield assets, particularly in stable cash flow sectors like home appliances and banking [7]. 3. Sectors benefiting from policy-driven improvements, such as coal, steel, and lithium [7]. 4. Core areas of domestic demand recovery, including health, sports, and travel industries [8]. 5. Investment opportunities in strategic and industrial metals, anticipating a rebound in prices [8].

Core Insights - The People's Bank of China and the National Financial Regulatory Administration have conducted an assessment for the 2025 systemically important banks, identifying 21 domestic banks as systemically important [1] Group 1: Systemically Important Banks - The assessment categorized the 21 banks into five groups based on their systemic importance scores, with the first group consisting of 11 banks including China Minsheng Bank, China Everbright Bank, Ping An Bank, and others [1] - The second group includes 4 banks: Industrial Bank, China CITIC Bank, Shanghai Pudong Development Bank, and China Postal Savings Bank [1] - The third group has 2 banks: Bank of Communications and China Merchants Bank [1] - The fourth group consists of 4 major banks: Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China [1] - No banks were placed in the fifth group [1] Group 2: Changes and Future Directions - Compared to the 2023 list of systemically important banks, Zhejiang Commercial Bank is a new addition [1] - The People's Bank of China and the National Financial Regulatory Administration plan to enhance macro-prudential management and micro-prudential supervision to ensure the safe and sound operation of systemically important banks [1] - The goal is to better support the high-quality development of the real economy [1]

Core Viewpoint - The Ministry of Commerce, Ministry of Finance, and State Taxation Administration have launched a prize invoice pilot program in 50 cities to stimulate consumer demand during the Spring Festival shopping season [1][10]. Group 1: Pilot Program Details - The pilot program will run for six months, from February to the end of July [9]. - The participating cities include four direct-controlled municipalities (Beijing, Tianjin, Shanghai, Chongqing), five separately planned cities (Dalian, Qingdao, Ningbo, Xiamen, Shenzhen), and 41 other cities [7]. - Eligible invoices must have a face value of at least 100 yuan, with a maximum prize of 800 yuan per invoice [5]. Group 2: Consumer Participation - Consumers can participate by uploading digital invoices of 100 yuan or more, which must be value-added tax ordinary invoices with the consumer's name and dated within the activity period [8]. - The prize invoice system has already been launched in various locations, with consumers expressing excitement over winning small amounts [1][3]. Group 3: Economic Impact - The prize invoice initiative aims to boost consumer spending across various sectors, including retail, dining, accommodation, and entertainment, thereby enhancing overall market activity [10]. - It serves as a universal incentive tool, unlike targeted consumption vouchers, allowing everyone to have a chance to win [10]. - The program is expected to improve tax compliance awareness among citizens, reinforcing the understanding that invoicing is both a consumer right and a merchant obligation [12].

重要新闻提示 6. 中国人民银行2月13日消息，为构建覆盖全面的宏观审慎管理体系，强化系统重要性金融机构监管， 根据《系统重要性银行评估办法》，近期中国人民银行、国家金融监督管理总局开展了2025年度我国系 统重要性银行评估，认定21家国内系统重要性银行，其中国有商业银行6家，股份制商业银行10家，城 市商业银行5家。 按系统重要性得分从低到高分为五组：第一组11家，包括中国民生银行、中国光大银行、平安银行、华 夏银行、宁波银行、江苏银行、北京银行、南京银行、广发银行、浙商银行、上海银行；第二组4家， 包括兴业银行、中信银行、浦发银行、中国邮政储蓄银行；第三组2家，包括交通银行、招商银行；第 四组4家，包括中国工商银行、中国银行、中国建设银行、中国农业银行；第五组暂无银行进入。 央行：1月末，社会融资规模同比增长8.2%，广义货币供应量（M2）同比增长9.0% 恒生指数成分股调整，宁德时代、洛阳钼业、老铺黄金被纳入 证监会对天风证券作出行政处罚及市场禁入事先告知 财经新闻 1. 中国人民银行2月13日发布2026年1月金融统计数据报告。数据显示，1月末，社会融资规模同比增长 8.2%，广义货币供应量（M2）同 ...