中证报中证网讯(记者齐金钊)日前，以"高起点，大格局，再出发"为主题的深圳创投行业25周年大会举 行。本次大会由深圳市创业投资同业公会主办，深创投、东方富海、达晨财智、同创伟业、松禾资本、 基石资本、前海方舟联合主办。 中国工程院院士、香港中文大学(深圳)校长徐扬生以"人工智能：突破口在哪里？"为题，从学术视角解 读了人工智能产业的发展现状与未来方向。他认为，人工智能正从"感知智能"向"认知智能""具身智 能"演进，核心突破口在于算法创新、算力提升与场景落地的深度融合。深圳拥有完整的产业链优势和 活跃的创新生态，有望成为人工智能技术转化和产业应用的核心阵地。 清科集团创始人、董事长倪正东则从行业发展趋势出发，分析了当前创投行业面临的机遇与挑战。他表 示，随着科技创新进入深水区，创投行业正从"规模扩张"向"质量提升"转型，专业化、精细化、生态化 成为未来发展的核心关键词。深圳创投机构要继续发挥先行优势，聚焦硬科技领域，加强投后赋能，与 创业者共同成长。" 作为被投企业代表，云豹智能创始人、CEO萧启阳分享了企业在资本赋能下的成长历程。"从初创到成 为行业骨干企业，深圳创投机构不仅提供了资金支持，更带来了资源对接 ...

最受关注的是"+"策略产品的快速崛起，广义固收+产品增速显著。以中邮理财为例，今年以来固收+产 品规模增长超70%，混合型产品规模实现翻倍。唐倩华分析，这一增长背后有三大核心驱动因素：一是 客户需求变迁，保守型客户占比小幅下降，进取型客户比例上升，经过长期陪伴教育，理财客群信任度 与专业性双提升，更能接受复杂产品；二是市场机会转变，十年期国债收益率整体下行，低利率成为新 常态，传统固收资产收益空间压缩，权益、黄金等多元资产价值凸显；三是管理能力升级，行业构建了 适配理财管理的投研机制，强化团队协作与客户需求响应效率。 她指出，多资产多策略已成为理财市场主流方向，中邮理财推出"鑫鑫+族"多资产多策略系列产品，正 是顺应行业趋势的战略布局，"通过多元投资，围绕'多元、均衡、特色、量化、跨境、结构'六大主题 策略搭建鑫鑫家族产品体系"。 中证报中证网讯(记者吴杨)12月19日，由中国证券报主办的"强投研优配置赢未来"2025银行业高质量发 展大会在深圳举行。在圆桌论坛环节，中邮理财高级业务专家唐倩华表示，2025年，理财行业呈现强势 增长态势，"+"策略产品崛起成最显著亮点，有望构筑行业第二增长曲线。 展望2026 ...

Core Viewpoint - The Zhengzhou Commodity Exchange (ZCE) announced that it will waive all fees related to hedging positions, delivery, and warehouse receipt transfers for all futures products starting in 2026, with the exception of high-frequency traders [1] Group 1 - The decision aims to promote trading activity and enhance market liquidity by reducing the cost burden on participants [1] - The waiver includes fees for opening hedging positions, delivery, and warehouse receipt transfers, which are significant costs for traders [1] - High-frequency traders are excluded from this fee waiver, indicating a targeted approach to encourage broader participation in the market [1]

中证报中证网讯(记者黄一灵)近日，在由中国太保（601601）与复旦大学联合主办的长三角"双阳杯"养 老社区艺术节总汇演暨"守护记忆.守护爱"认知健康公益行活动上，由复旦大学保险应用创新研究院、 复旦大学公共卫生学院与太保养老投资公司三方联合编撰的《保险业(养老社区)健康服务管理白皮书》 正式发布。 白皮书称，沟通能力、专业知识、活动设计、工具设备是养老服务从业人员最缺乏的能力或资源；实践 赋能、专业导向、资源配备、可持续性是养老服务从业人员能力提升的主要着力点。 据悉，该白皮书立足长者真实健康需求与养老社区一线服务实践，历经半年实地调研编制而成，为提升 保险业(养老社区)健康服务管理能力提供了数据支撑与行动指南。 白皮书显示，养老服务行业人才存在缺口，且人才总量供给不足、人才结构与岗位需求不匹配。同时， 行业需要复合型人才，但供给侧存在断层。据统计，养老服务行业人才供给缺口约550万人，新增从业 人员流失率约40%-50%，机构缺乏从业人员占比约85.6%。 ...

Core Viewpoint - Fangsheng Pharmaceutical has launched "Yangxue Qufeng Zhitong Granules," the first innovative traditional Chinese medicine targeting frequent tension-type headaches, which received its drug registration certificate in June 2025 [1][2]. Market Demand for New Product - The global prevalence of tension-type headaches ranges from 11% to 45%, making it the second most common disease worldwide, with a 45.30% occurrence rate in China, affecting over 285 million patients in 2021 [2]. - Current Western treatments rely on non-steroidal anti-inflammatory drugs, which may cause adverse effects with long-term use, while the market for traditional Chinese medicine has grown from 3.9 billion yuan in 2018 to 5.3 billion yuan in 2023, indicating a lack of innovative traditional medicines specifically for frequent tension-type headaches [2]. - The development of Yangxue Qufeng Zhitong Granules began in 2014, with a total investment of approximately 27 million yuan, completing clinical trials and long-term toxicity tests [2]. Strengthening Traditional Chinese Medicine Innovation Strategy - The company's core competitive advantage lies in its new drug research and development capabilities, focusing on traditional Chinese medicine innovation, which has led to the approval and commercialization of several products [3]. - The approval of Yangxue Qufeng Zhitong Granules enhances the company's product pipeline in traditional Chinese medicine, supporting its strategy to become a health industry group centered on innovative traditional Chinese medicine [3]. - Over the past 20 years, the company has maintained a commitment to the challenging field of traditional Chinese medicine innovation, with 32 innovative traditional Chinese medicines approved nationwide in the last decade, of which 3 out of 4 approved in Hunan are owned by the company [3]. Ongoing Innovation Projects - The company has nearly 20 innovative traditional Chinese medicine projects in progress, with three 1.1 class new drugs, including Xiangqin Jiere Granules and Ziying Granules, entering clinical stages across various fields [4]. - The company is also expanding into cutting-edge areas by collaborating with top research institutions, gradually building a diversified product matrix that includes innovative traditional Chinese medicine as the main focus and chemical drugs as a supplement [4].

Core Viewpoint - The establishment of the Regenerative Medicine Clinical Research Center at Hunan University aims to integrate industry, academia, and research to drive innovation in the field of regenerative medicine, focusing on major disease diagnosis and treatment, as well as organ damage repair [1][2]. Group 1: Center Establishment and Objectives - The center is a collaboration involving Hunan University, Hunan Provincial Tumor Hospital, and several other medical institutions, designed to promote a new path for the integration of research and industry [1]. - The center will leverage clinical needs to guide research and innovation, aiming to create a closed loop from basic research to clinical application and industrial transformation [2]. Group 2: Industry Context and Market Potential - The global cell therapy market has surpassed $400 billion, indicating significant growth potential in the regenerative medicine sector [2]. - Hunan Province is working to develop a trillion-level stem cell and regenerative medicine industry chain, with a focus on innovation and collaboration among various stakeholders [2]. Group 3: Strategic Contributions and Infrastructure - Dajia Weikang, as a co-builder of the center, will invest in technology, talent, and funding to accelerate the transition of cutting-edge therapies from the lab to clinical practice [1]. - The center will establish a cell seed bank and regenerative medicine product library, aiming to create an internationally competitive application testing center for stem cells and regenerative medicine products [2].

Core Viewpoint - Hisense, as the global official sponsor of the 2026 World Cup, showcased a range of customized technology products at the "Hercules Cup Comes to China" event, highlighting the integration of sports IP and technology products, while also setting a Guinness World Record for the largest human Hercules Cup formation [1][2][3] Group 1: Event Highlights - The event took place at the Qingdao Olympic Sailing Center and attracted significant attention, with pre-registration numbers exceeding expectations, prompting Hisense to increase visitor capacity [1] - Attendees included fans and technology enthusiasts eager to experience the Hercules Cup and the innovative World Cup customized products [1] Group 2: Product Innovations - Hisense introduced the world's first RGB-Mini LED TV, which accurately replicates the passionate atmosphere of the World Cup [2] - The Hercules air conditioner features a starry human-sensing smart wind technology with an industry-leading fresh air volume of 270m³/h, ensuring a comfortable viewing environment [2] - The refrigerator utilizes pioneering vacuum magnetic field preservation technology to keep fruits and beverages fresh, catering to various viewing scenarios [2] - The large mint washing machine offers a segmented washing function, enhancing the consumer experience during the events [2] Group 3: Brand and Market Strategy - Hisense's collaboration with FIFA is seen as a way to merge sports spirit with technological innovation, enhancing the brand's global presence [3] - The company aims to deepen its sports IP layout and strengthen its global technology brand image through product innovation and brand activities [3] - With the approach of the 2026 World Cup, Hisense is positioned to expand its global market presence, showcasing the international influence of Chinese technology companies [3]

Core Viewpoint - The Qingdao Securities Regulatory Bureau has actively implemented policies to enhance the quality and efficiency of listed companies, focusing on addressing challenges and promoting the use of capital market tools to support corporate development [1][2][3][4] Group 1: Policy Implementation and Support - The bureau has conducted extensive visits to listed companies, providing guidance on capital market policies and addressing specific company needs through collaborative efforts with local government and other stakeholders [1][2] - In 2025, 45 companies in the region are expected to distribute nearly 20 billion yuan in annual dividends, marking a 9.34% year-on-year increase, with 13 companies also expected to implement mid-term dividends totaling nearly 4.5 billion yuan, both figures reaching historical highs [3] Group 2: Research and Problem Solving - The bureau has initiated a "Deepening Research and Construction Year" activity, resulting in 15 research outcomes aimed at supporting the development of private enterprises and enhancing the role of mergers and acquisitions in the region [2] - Specific challenges faced by companies, such as issues with mergers and acquisitions or dividend distributions, have been addressed through tailored solutions and policy introductions [2] Group 3: Risk Management and Governance - The bureau has emphasized risk management by conducting on-site inspections of high-risk companies and ensuring compliance with regulatory standards, thereby enhancing internal governance mechanisms [4] - A focus on the reform of supervisory boards has been established, with all listed companies in the region expected to complete the reform tasks within the year, improving the effectiveness of audit committees [4]

Group 1 - MiniMax has successfully passed the Hong Kong Stock Exchange hearing, becoming the second large model company to do so after Zhipu [1] - The company was founded in 2022 and took nearly four years to reach this milestone [1] - Projected revenues for MiniMax are $3.46 million in 2023, $30.52 million in 2024, and $53.44 million in the first three quarters of 2025 [1] Group 2 - MiniMax has over 212 million individual users across more than 200 countries and regions, and 130,000 enterprise clients in over 100 countries as of September 30, 2025 [2] - The company has received investments from notable firms such as MiHoYo, Alibaba, Tencent, Hillhouse, IDG, and Sequoia [2] - MiniMax is recognized as one of the few companies globally that excels in text, video, and audio modalities [2] Group 3 - Cumulatively, MiniMax has spent $500 million since its establishment, which is lower than its international peers [3] - As of September 30, 2025, MiniMax holds a cash balance of $1.046 billion [3] - The company aims to achieve long-term commercialization by leveraging the rapid development of the large model industry and enhancing the accessibility of AI technology [3]

经过深入研讨，论坛形成三大行业共识：一是电动智能化优势需与ESG责任深度融合，升级为负责任的 全球企业公民之路；二是智能汽车需以安全和用户价值为底线，理顺生态关系实现共赢；三是可持续发 展与ESG已从"可选项"变为"必答题"，需内化为企业核心竞争力。 中证报中证网讯(记者龚梦泽)12月19日，以"美美与共，和而不同"为主题的2025中国汽车行业全球化及 可持续发展论坛在北京举办，来自行业协会、汽车及零部件龙头企业、国际机构、投资机构与媒体机构 的近两百位嘉宾齐聚一堂，围绕全球汽车产业格局演变、中国汽车行业技术演进和生态开放、企业ESG 价值创造等核心话题展开深入研讨。 论坛现场，中国汽车工程学会名誉理事长、华汽基金会理事长付于武发布《中国汽车可持续发展倡议 书》，倡导汽车企业以可持续发展理念为引领，规范竞争行为，维护行业秩序，推动企业与社会经济协 同可持续发展。他用多项行业数据印证2025年中国汽车产业的历史性跃升，同时呼吁企业重视ESG实 践，应对内卷、质量安全等挑战。中国汽车工程学会副秘书长吴锋、北京汽车博物馆馆长刘井权等嘉宾 也在致辞中强调了可持续发展理念对汽车产业全球化的重要意义。 主题演讲环节，零跑 ...