新任美联储主席提名人选终于揭晓。 2006年2月，年仅35岁的他在时任美国总统布什提名下成为美联储理事，创下美联储史上最年轻理事纪 录。此前，他在摩根士丹利从事并购业务7年，后在白宫担任总统经济政策特别助理。 金融危机期间，沃什成为时任美联储主席伯南克与华尔街的关键联络人。然而，他的政策立场却引发争 议，在2008年金融危机期间美国劳动力市场崩溃时，他仍主张尽早结束量化宽松，优先关注通胀风险而 非刺激经济。最终，他在2011年3月辞职，比原定任期提前7年。 据新华社报道，美国总统特朗普30日提名美联储前理事凯文·沃什为下任美联储主席，这一提名还需获 得参议院批准。 消息传出后，市场震荡。1月30日美股盘前，美股股指期货集体下挫。 市场反应如此剧烈的原因在于：这位曾被认为是坚定"鹰派"的美联储前理事，如何成为呼吁大幅降息的 特朗普提名的最终人选? 鹰派还是鸽派？ 55岁的凯文·沃什并非美联储新面孔。这位华尔街出身的前美联储理事，在2008年金融危机期间展现 出"鹰派"姿态。 离开美联储后，沃什转战学界和商界，担任斯坦福大学胡佛研究所访问学者，同时出任UPS等多家公司 董事。 但近年来，沃什的立场似乎悄然转鸽，公 ...

Core Viewpoint - The recent surge in Listed Open-Ended Funds (LOFs) has led to multiple instances of price limits being reached, with significant premium rates observed, raising questions about the underlying reasons and potential risks involved [1]. Group 1: LOF Product Overview - LOF stands for Listed Open-Ended Fund, which allows for both off-market subscription and redemption like traditional open-end funds, as well as real-time trading on stock exchanges like stocks [2]. - LOFs differ from ETFs in that they can be subscribed with cash and have lower investment thresholds, while ETFs typically require a minimum of 1 million shares for subscription [3]. Group 2: Recent Market Activity - The recent batch of LOF price limits is primarily attributed to funds focused on commodities such as silver, gold, and oil, driven by rising prices in these resources and limited off-market subscription options [6]. - The surge in LOF prices is compounded by the small scale of many LOF products, leading to insufficient liquidity, where minimal trading volume can trigger price limits [6]. Group 3: Premium Rates and Constraints - High premium rates for LOFs are difficult to mitigate due to constraints such as QDII quotas for cross-border investment products and limitations on futures positions for resource-based LOFs [7]. - The inability to open subscription channels for high-premium LOFs means that the current pricing dynamics are likely to persist [7]. Group 4: Arbitrage and Risks - While LOF arbitrage has gained attention, it is important to note that high premiums are often unsustainable, and the T+2 or T+3 settlement delays can lead to potential losses if market conditions change [9]. - Risks associated with high premium purchases include volatility of underlying assets, liquidity issues due to potential fund suspensions, and the likelihood of premium corrections if subscription channels reopen [10].

中证报中证网讯（记者 傅苏颖）1月30日晚间，爱美客发布公告，旗下子公司REGEN于1月29日收到深 圳国际仲裁院下发的《仲裁庭关于〈撤销临时措施决定申请>的决定》，仲裁庭审慎考虑双方当事人的 意见与双方争议现状，并结合《中华人民共和国仲裁法》，撤销了紧急仲裁员于2025年9月10日作出的 临时措施决定。 据悉，2025年9月10日，深圳国际仲裁院紧急仲裁员曾就退市苏吴的控股孙公司达透公司提出的临时措 施申请作出《深圳国际仲裁院决定书》，决定REGEN公司在本案仲裁裁决作出前，不得自行在中国国 内销售AestheFill产品、不得否认达透公司是AestheFill产品在中国国内的独家经销商、不得拒绝并应继 续向达透公司按协议约定供应该产品。 公告显示，本次仲裁反请求申请人REGEN公司的仲裁反请求包括以下内容：裁决确认达透公司在中国 大陆区域（不含港澳台地区）的AestheFill产品的独家代理权终止；裁决确认作为《关于AestheFill独家 代理权转让协议》附件的EXCLUSIVE DISTRIBUTORSHIP AGREEMENT (Fourth Revised Agreement） 及其2021年1月 ...

公开资料显示，Anabion是一家总部位于卡塔尔多哈的国际生物技术公司，致力于在生命科学领域提供 有效、安全且价格合理的解决方案，促进人类生命福祉的提升，专注于肿瘤、自身免疫性疾病、罕见病 等领域药物的全周期开发、研究与生产，以卓越的技术创新能力和前瞻性战略布局，促进行业的发展和 为人类健康贡献力量。 "用户企业高层飞越几千公里亲临楚天科技参加今天的项目启动仪式，彰显了双方对这一项目的高度重 视与共同期待。楚天科技从全集团遴选精锐力量组建成项目团队，项目团队各功能板块负责人在今天的 启动仪式上签署'军令状'，这代表了楚天科技将完美交付这一项目的决心、信心和实力，这一项目不仅 将让用户的战略投资实现完美的落地实施，也将成为楚天科技在国际市场上的又一个重要样板工 程。"唐岳说。 Anabion创始人Morozov表示："在卡塔尔这一重要项目上与楚天科技达成新的合作，是我们合作关系发 展中的重要一步。项目对我们同样意义重大，这将帮助当地进一步发展前沿制药技术。" 据介绍，楚天科技总部与旗下楚天华通、楚天源创、楚天思优特等多家子公司，共同为该项目研发和制 造全流程工艺装备，包括模块化生物工程单元、ADC生产单元、灌装 ...

中证智能财讯富瀚微（300613）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润1.2亿元至1.55亿元，同比下降39.84%-53.43%；扣非净利润预计 1.07亿元-1.42亿元，同比下降35.98%-51.76%。以1月30日收盘价计算，富瀚微目前市盈率（TTM）约为76.09倍-98.28倍，市净率（LF）约4.28倍，市销率 （TTM）约7.24倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 近年来市盈率变化情况（倍） 400 週00 210 31 - 200 100 62.09 42d4 459 36x79 33:01 26.03 0 2020-12-37 1 2021-06-30 ' 2027-12-37 1 2022-12-37 4-06-30 ' 2-06-30 ' -30 `12-37 . 2n- -○- 公司 -○- 行业均值 100 ହ 90 91g82 d688 80 70 60 1688 50 40 30 29.2 25.78 20 165 10 0 0.4 2020-12-37 1 2021-12-37 1 2-06-30 ' 5-06 ...

近年来市盈率变化情况 (倍) 中证智能财讯飞亚达（000026）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润7600万元至9800万元，同比下降55.53%-65.51%；扣非净利润预 计7200万元-9400万元，同比下降54.97%-65.51%；基本每股收益0.1873元/股-0.2415元/股。以1月30日收盘价计算，飞亚达目前市盈率（TTM）约为65.67 倍-84.68倍，市净率（LF）约1.91倍，市销率（TTM）约1.8倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 1,000 இ00 600 400 200 19-4 0 15-0 14-26 17.76 -200 2020-12-37 2021-06-30 2021-12-37 2022-06-30 3-06-30 22-12-37 *-72 ـ در r ּ〇- 公司 -〇- 行业均值 100 ହ 90 80 70 60 50 40 30 23:38 20 14:2 12024 10 100 3 4.83 74 0 2027-12-37 | 2020-12-37 I 2021-06-30 | 2 ...

Core Viewpoint - The company, Jieqiang Equipment (300875), has announced a forecast for a net loss of 90 million to 120 million yuan for the year 2025, which is an improvement compared to a loss of 278 million yuan in the previous year [4]. Financial Performance - The expected net profit loss for 2025 is between 90 million and 120 million yuan, while the non-recurring net profit loss is projected to be between 100 million and 130 million yuan, compared to losses of 278 million yuan and 292 million yuan in the previous year respectively [4]. - The company's price-to-book ratio (LF) is approximately 4.37 times, and the price-to-sales ratio (TTM) is about 27.29 times based on the latest closing price [4]. Business Operations - The company specializes in the research, development, production, sales, and technical services of nuclear biochemical safety equipment and core components [15]. - The anticipated decrease in impairment amounts for 2025 is expected to be significant compared to the previous year, as determined by a qualified assessment and auditing institution [15]. - Adjustments to previously recognized revenue due to changes in sales contract prices by final customers are expected to reduce profits for the reporting period [15]. Future Prospects - A new controlling subsidiary will be included in the company's consolidated scope starting from October 1, 2025, which is expected to generate additional business revenue and positively impact net profit [16]. - The impact of non-recurring gains and losses on net profit is estimated to be between 9 million and 12 million yuan, primarily from government subsidies and returns on idle funds [17].

)- 公司 -○- 行业均值 制图数据来自恒生聚源数据库 中证智能财讯兆丰股份（300695）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润3.3亿元至3.7亿元，同比增长136.26%-164.89%；扣非净利润 预计9000万元-1.1亿元，同比下降10.09%-26.44%。以1月30日收盘价计算，兆丰股份目前市盈率（TTM）约为22.44倍-25.16倍，市净率（LF）约2.92倍，市 销率（TTM）约12.03倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 近年来市盈率变化情况（倍） 70 @ 60 50 40 33d 30 28.8 22d4 2284 21-92 20 18-4 10 0 2021-06-30 | 2021-12-37 1 202-06-30 | 2022-12-37 2020-12-37 4-06-30 5-12-37 203 公司 -{○- 行业均值 100 ହି ୨୦ 84-89 80 70 60 5842 55g13 52d8 50 40 30 204 20 10 0 2021-12-37 I 2020-12-37 1 2022- ...

中证智能财讯观想科技（301213）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润1257.91万元至1811.4万元，上年同期亏损871.15万元；扣非 净利润预计1187.74万元至1741.22万元，上年同期亏损1511.11万元。以1月30日收盘价计算，观想科技目前市盈率（TTM）约为323.11倍-465.28倍，市净率 （LF）约7.46倍，市销率（TTM）约37.66倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 近年来市盈率变化情况（倍） 1,500 19000 500 230.38 280.14 -231.26 161.43 0 -500 -838.04 -1,000 -1,500 -1824.69 -2,000 209259 -2,500 -09-30 4-03-30 3-12-30 n - 公司 -○- 行业均值 制图数据来自恒生聚源数据库 市盈率(TTM)历史分位(%) 100 94.45 ହି 90 82:32 88.5 80 70 67-92 60 50 40 30 20 10 0 2n- 制图数据来自恒生聚源数据库 市净率(LF)历史分位 ...

Core Viewpoint - The company Zhongke Weizhi (688211) has announced its performance forecast for 2025, expecting revenue between 2.35 billion to 2.85 billion yuan, with a net loss attributable to shareholders ranging from 88 million to 130 million yuan, indicating a slight increase in losses compared to the previous year [4]. Financial Performance - The expected revenue for 2025 represents an increase compared to the previous year, but the gross margin is anticipated to decline due to market changes and intensified competition [15]. - The company forecasts a net profit attributable to shareholders of between -88 million to -130 million yuan, compared to a loss of 84.75 million yuan in the same period last year [4][16]. - The non-recurring net profit is expected to be between -105 million to -155 million yuan, compared to a loss of 133 million yuan in the previous year [4]. Valuation Metrics - As of the latest closing price, the company's price-to-book ratio (LF) is approximately 1.25 times, and the price-to-sales ratio (TTM) is about 1.62 times [4]. - Historical trends indicate that the company's price-to-earnings ratio (TTM) has fluctuated significantly over recent periods, reflecting the volatility in its financial performance [5][21]. Government Support and R&D - The decline in net profit is partly attributed to a reduction in various government subsidies received compared to the previous year, along with a decrease in non-recurring income [16]. - The company plans to enhance its technological and product development efforts, optimize cost reduction and efficiency measures, and strengthen its market competitiveness [15].