Group 1 - The global storage market is expected to experience a disruptive price increase starting from Q3 2025, with DRAM and NAND flash prices rising over 300% [1] - Predictions indicate that NAND flash prices will increase by 33%-38% and general DRAM prices by 55%-60% in Q1 2026 [1] - 25 out of 41 storage companies have disclosed earnings forecasts, with 16 companies expecting positive results, driven by the AI and computing industry [1] Group 2 - The price surge is attributed to a structural supply-demand imbalance caused by AI, with AI servers consuming 53% of global memory monthly production [1] - Major manufacturers are shifting over 80% of their advanced production capacity to high-margin HBM, leading to a reduction in mature capacity [1] - The average inventory cycle for the DRAM industry is projected to drop to 10 weeks, indicating a tight supply situation [1] Group 3 - Domestic companies like Changxin Technology and Yangtze Memory are expected to benefit from increased opportunities in DDR4 and 3D NAND products due to foreign manufacturers focusing on high-end production [2] - Baiwei Storage anticipates revenues of 10 to 12 billion yuan in 2025, with a net profit increase of 427.19% to 520.22% [2] - Demingli expects revenues of 10.3 to 11.3 billion yuan in 2025, with a net profit increase of 85.42% to 128.21% [2] Group 4 - The company Shannon Chip Innovation expects over 40% revenue growth in 2025, with its brand "Haipu Storage" entering mass production [3] - The current market is viewed as a "super cycle" lasting 2-3 years, with supply capacity lagging behind demand growth [3] - Citigroup predicts average price increases of 88% for DRAM and 74% for flash products in 2026, higher than previous forecasts [3] Group 5 - Companies are focusing on inventory management and supply stability, with Baiwei Storage maintaining sufficient inventory levels [4] - Demingli plans to raise up to 3.2 billion yuan for SSD and DRAM expansion projects [4] - Several companies are pursuing acquisitions to enhance product lines and supply capabilities, such as Yingxin Development's acquisition of Guangdong Changxing Semiconductor [5]

Core Viewpoint - The State Administration for Market Regulation of China has issued guidelines to promote the high-quality development of special equipment inspection institutions, aiming to enhance the safety governance system and support the professionalization and standardization of these institutions [1] Group 1: Overview of Special Equipment Inspection Institutions - There are over 3,000 special equipment inspection institutions in China responsible for the safety inspection of more than 23 million special equipment units, over 300 million gas cylinders, and over 1.1 million kilometers of pressure pipelines [1] - These institutions play a crucial role in improving safety levels, advancing technology in the special equipment sector, and supporting market regulatory safety inspections [1] Group 2: Expanding Service Areas - The guidelines emphasize enhancing the institutions' responsiveness to national and local major strategies, establishing specialized service mechanisms, and forming expert service teams to support the application of new technologies and materials [2] - There is a focus on exploring new business models and technologies, strengthening safety control technology research for new and complex equipment, and developing safety technologies for renewable and low-carbon equipment [2] Group 3: Enhancing Innovation Capabilities - The guidelines call for increased investment in technology by inspection institutions, promoting resource sharing and collaborative research, and creating a favorable innovation ecosystem [2] - Institutions are encouraged to improve their innovation incentive mechanisms and enhance their research capabilities, including building innovation platforms and training talent [2] Group 4: Providing High-Quality Inspection Services - The guidelines require strengthening brand building for inspection institutions and encourage them to develop specialized service brands based on regional characteristics and industry needs [3] - Institutions are urged to explore the establishment of technical service alliances and promote international development, including participation in international standardization organizations and supporting the Belt and Road Initiative [3]

大小盘股均出现调整，大盘股集中的上证50指数、沪深300指数分别下跌2.07%、2.13%，小微盘股集中 的中证1000指数、中证2000指数、万得微盘股指数分别下跌3.39%、2.41%、1.51%。 个股方面，个股多数下跌，整个A股市场上涨股票数为771只，44只股票涨停，4652只股票下跌，123只 股票跌停。 从盘面上看，特高压、白酒、培育钻石、智能电网等板块表现活跃，黄金珠宝、存储器、工业金属、磷 化工等板块领跌。申万一级行业中，仅有食品饮料、银行行业上涨，分别上涨1.11%、0.17%；其他行 业均下跌，有色金属、钢铁、基础化工行业跌幅居前，分别下跌7.62%、5.93%、5.69%，煤炭、石油石 化行业也均跌逾5%。 有色金属板块中，西部材料涨逾6%，永杰新材涨逾5%，翔鹭钨业、宁波富邦均涨逾3%，晓程科技跌逾 18%，铜陵有色、锌业股份、白银有色、恒邦股份等多股跌停，其中铜陵有色、锌业股份、白银有色等 多只股票跌停板上均有大额封单。消息面上，现货黄金、现货白银价格大跌。 对于A股市场调整的原因，安爵资产董事长刘岩表示，2月2日A股整体走低是外部市场冲击、内部收益 兑现和节前资金避险三重逻辑的共 ...

使命，因时代而生；担当，因责任而重。 "努力走好中国特色金融发展道路，助力开创资本市场高质量发展新局面，是国开证券所肩负的职责使 命。"国开证券党委书记、董事长刘晖近日在接受中国证券报记者采访时表示，金融是现代经济的血 脉，关系中国式现代化建设全局。"十五五"规划建议提出"提高资本市场制度包容性、适应性，健全投 资和融资相协调的资本市场功能"，吹响了加快建设中国特色现代金融体系和金融强国的号角，也为证 券行业走好高质量发展的"赶考路"出了一道"必答题"。 ● 本报记者 徐昭 葛瑶 把握枢纽功能 助力金融强国建设 时代大潮奔涌向前，金融使命重若千钧。经过30多年的发展，我国资本市场从无到有、从小到大，当前 正处在向高质量发展快速转变的关键阶段。 在刘晖看来，金融强国建设是一项关乎国家金融治理现代化的系统工程，而中国特色现代金融体系的构 建是其关键所在。作为包含金融机构、市场、规则等在内高度关联的复杂有机系统，现代金融体系具有 整体性、结构性、层次性和开放性的特征，这就要求在推进中国特色现代金融体系建设过程中，必须坚 持系统思维、协同推进。 资本市场是现代经济金融的重要枢纽。纵观全球，强大的资本市场始终是大国崛起 ...

上述转变在上市公司公告中得到了印证。方大特钢2025年业绩预增公告显示，2025年公司非经常性损益 金额约1.3亿元，因投资的信托产品等公允价值变动收益增加。海信家电更是将信托配置推向更高水平 ——Wind数据显示，2025年以来公司累计斥资上百亿元认购信托产品，认购机构覆盖中粮信托、华能 信托等多家信托公司。 此外，2026年年初，厦门国际信托落地两单自主管理型上市公司法人财富管理服务信托，分别为一家强 调安全、流动性的国企和一家在安全性前提下，追求一定收益目标的民营上市公司。 ● 本报记者 吴杨 凭借相对较高的收益水平与灵活的资产配置模式，信托已成为上市公司提升资金使用效率、增厚利润的 重要工具之一。Wind数据显示，2025年以来，A股已有超50家上市公司配置信托理财，总规模近300亿 元。这一现象不仅反映出企业理财偏好的变化，也折射出信托行业在回归本源过程中对业务发展路径的 持续探索。 信托频现上市公司资产配置清单 "上市公司利用闲置资金购买理财产品并不少见。近两年，信托公司对这块业务的重视程度明显提 升。"南方地区某信托公司资管部主管说。 合作模式日趋多元 随着合作深入，上市公司与信托公司的合作内容 ...

投资者小京在社交平台发帖表示，她在2025年初用9.3万元人民币兑换了1.27万美元，并分两笔购买了某 股份制银行的一年期美元定期存款。当时，1万美元的存款执行的是3.7%的利率，2700美元的存款执行 的是3.4%的利率。近期，这两笔美元存款到期，她获得了1.32万美元，结汇成人民币相当于9.1万元。 存款一年下来，亏损了人民币两千元左右。 在社交平台上，小京的经历并不是个例。最近一些投资者反映，在购买美元存款过程中亏了钱。上海金 融与发展实验室首席专家、主任曾刚表示，美元汇率波动造成的损失超过了美元存款利息收益，叠加汇 兑成本等，最终导致投资者整体收益亏损。曾刚解释道，投资者在2025年初购汇时，人民币对美元汇率 在7.2元-7.4元区间运行。而近期美元存款到期结汇时，人民币对美元汇率运行在7.0元附近，人民币对 美元汇率升值幅度为3%左右，这一汇率损失基本覆盖了美元存款的利息收益。再加上购汇、结汇环节 的点差与手续费，最终产生亏损。 一年期美元存款利率稳定在3% 当前，美元存款的利率如何？记者走访多家银行发现，一年期美元存款利率基本稳定在3%，低于去年 初4%左右的美元存款利率。而且多家银行的两年期美元 ...

Core Insights - The article discusses the strategic investment of banks in sponsoring marathon events, particularly the "2026 China Bank Yangzhou Half Marathon," highlighting the shift from mere brand exposure to building long-term customer relationships and integrating financial services into the health and wellness ecosystem [1][2][3]. Group 1: Strategic Investment in Marathons - Banks are increasingly becoming major sponsors of marathon events, viewing this as a strategic investment to reach potential customers and redefine the value of offline quality scenarios [1][2]. - The sponsorship allows banks to transform sports events into a foundation for long-term customer relationships and a "finance + health" service ecosystem [1][3]. - The characteristics of marathon participants align closely with the target demographics of banks' retail businesses, making these events a key opportunity for customer acquisition [2][3]. Group 2: Enhanced Customer Engagement - Through the China Bank App, runners can access specialized training courses and a range of exclusive benefits, showcasing a comprehensive approach to customer engagement [2]. - Banks are leveraging marathons to create multiple touchpoints with potential customers, enhancing interaction from registration to on-site services [3]. - The sponsorship of local events helps regional banks improve brand penetration and build emotional connections within the community [3][5]. Group 3: Challenges and Opportunities - While sponsorship provides brand exposure, the real challenge lies in converting event "traffic" into long-term customer retention amidst increasing competition and similar marketing strategies [4]. - Banks are encouraged to innovate their marketing approaches beyond conventional methods like commemorative cards and simple lotteries to improve return on investment [4]. - Future strategies should focus on full-chain operations, customer segmentation, and integrating technology to enhance the "sports + finance" ecosystem [5].

● 本报记者 张佳琳 据金融监管总局最新披露的数据，2025年保险业原保险保费收入约6.12万亿元，同比增长7.43%。其 中，财产险原保险保费收入约1.47万亿元，人身险原保险保费收入约为4.65万亿元。赔付支出方面，财 产险赔付支出9962亿元，人身险赔付支出约1.45万亿元。 展望2026年，金融监管总局在2026年监管工作会议提出，不断提升金融服务经济社会质效。综合施策引 领行业改革转型，持续推进保险业"报行合一"和预定利率调整。进一步发挥保险经济减震器和社会稳定 器功能。 业内人士表示，改革转型、高质量发展，势必成为保险行业未来的核心任务。 多家保险机构表示，将充分发挥保险主业优势，在助力科技创新、服务"一带一路"、推动绿色转型、保 障民生事业等重点领域上进一步拓展保险服务、提升保障能力，主动将公司战略与国家蓝图深度对焦， 谋划新一轮高质量发展。 数据显示，截至2025年末，保险业总资产约41.32万亿元，较2024年末增长15.06%。从不同经营主体来 看，财产险公司总资产约3.12万亿元，人身险公司总资产约36.39万亿元，再保险公司总资产约8573亿 元，保险资产管理公司总资产约1456亿元。 ...

在目标上指南明确，到2027年，低空经济标准体系基本建立，基本满足低空经济安全健康发展需求。到 2030年，低空经济领域标准超过300项，结构优化、先进合理、国际兼容的低空经济标准体系基本形 成，为低空经济安全健康发展提供有力支撑。 ● 本报记者 王婧涵 2月2日，市场监管总局、中央空管办、国家发展改革委、工业和信息化部等十部门联合发布《低空经济 标准体系建设指南（2025年版）》。 指南提出，当前，我国低空经济已进入产业化加速期，形成贯穿技术研发、装备制造、运营服务、基础 设施的全链条生态体系。为深入贯彻国家发展战略，系统推进低空经济高质量发展，充分发挥标准化在 产业发展中的基础性和引领性作用，统筹推进低空经济标准化建设，形成全国"一盘棋"的工作格局，建 立技术标准与管理规范融合、国内标准与国际规则融合、强制性标准与推荐性标准融合、基础标准与场 景标准融合的"四维融合"标准供给体系。 低空基础设施标准包括低空智能网联系统、低空起降基础设施、低空飞行管理服务保障基础设施、低空 质量技术基础设施、低空安全防护基础设施等，是低空经济高效运行的基础保障。 低空空中交通管理标准包括空域管理、飞行流量管理、空中交通服务 ...

新华社图文 2月2日，浙江省桐庐县2026"我们的村晚"群众文艺联欢会在桐庐县中心广场举行，歌舞、越剧选段、非 遗创演秀等群众节目在舞台上演。 图为演员在表演越剧《红楼梦》选段。 ...