2025.12.08 当时的中国新能源汽车行业，虽然面临严峻的价格战挑战，新势力进入淘汰赛阶段，但另一方面，市场 空间依旧广阔，销量增速超30%，而且当时智能化正在进入"城市场景"普及前夜，这让以智能化作为核 心优势且有大厂背景的极越汽车仍算是一个"香饽饽"。 虽然进入汽车行业的很短，但徐继业闹出的"动静"不小。2024年8月，徐继业在朋友圈炮轰小米汽车和 雷军，批评小米汽车"亏钱卖车"，称其行为"没有公德心和羞耻心"，并暗示这种定价策略可能构成"倾 销"。这一举动很快引起车圈热议，并登上热搜。 新势力自带流量光环，徐继业的一举一动都被"放大"。徐继业向第一财经记者表示："我当时纯粹就是 有感而发，没想到会造成这么大影响，事后夏一平（极越汽车CEO）也批评我了，但我并不后悔，重来 一次我可能还是会这样。我从来没把自己当公关，我很自由。" 在徐继业加入后不到一年，在激烈的竞争下，极越汽车在2024年底"闪崩"，先是传出大规模裁员的消 息，很快资金链断裂、"原地解散"的消息也接踵而至。该新势力也发声称"正在积极推进融资"，从侧面 承认了经营困难一事。此事经发酵后，员工、供应商纷纷到公司讨要说法，公司业务也彻底停摆 ...

12月8日，工商银行、农业银行发布2025年半年度A股分红派息实施公告。 | 股份类别 | 股权登记日 | 最后交易日 | 除权(息)日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | A 股 | 2025/12/12 | | 2025/12/15 | 2025/12/15 | 同日，农业银行公告，公司2025年半年度利润分配方案已获股东会审议通过，A股每股派发2025年中期 现金红利人民币0.1195元（含税），股权登记日为2025年12月12日，除权（息）日为2025年12月15日， 现金红利发放日为2025年12月15日。此次共计派发现金红利约人民币418.23亿元（含税），其中A股派 发现金红利共约人民币381.50亿元（含税）。 其中，工商银行公告，公司2025年中期利润分配方案已获股东会审议通过，A股每股派发现金股息人民 币0.1414元（含税），股权登记日为2025年12月12日，除权（息）日为2025年12月15日，现金红利发放 日为2025年12月15日。 此次派发现金股息共计约人民币503.96亿元，其中A股派发约人民币381.23亿元。 截至收 ...

Core Insights - Shanghai is focusing on six key areas for future industry development, including future manufacturing, future information, future materials, future energy, future space, and future health [1] - The city has seen significant advancements in robotics, quantum computing, and brain-machine interfaces, with milestones such as the production of the 5000th general-purpose embodied robot by Zhiyuan Robotics [1][5] - The Shanghai Future Industry Fund has been established to support disruptive innovation and interdisciplinary collaboration, with a total scale of approximately 15 billion yuan and investments in 18 sub-funds [7][9] Group 1: Robotics and Quantum Computing - Zhiyuan Robotics has achieved a milestone with the mass production of its 5000th general-purpose embodied robot, validating its capability for large-scale delivery and setting the stage for future production goals [1] - Shanghai's quantum technology company has completed several million yuan in angel financing, indicating strong investor interest in the quantum computing sector [1] Group 2: Brain-Machine Interfaces - The 2025 Brain-Machine Interface Conference showcased new invasive and non-invasive products from seven companies, highlighting the rapid development in this field [1] - The Shanghai Future Industry Fund is actively involved in the brain-machine interface sector, focusing on creating a systematic approach to talent and technology development [8] Group 3: Strategic Measures and Support - Shanghai has introduced measures to accelerate the innovation of frontier technologies and cultivate future industries, aiming to establish industry clusters and nurture around 20 leading enterprises by 2027 [1][5] - The city is leveraging its strong technological foundation and resource endowment to strategically position itself in emerging fields such as artificial intelligence, regenerative medicine, and quantum technology [2][5] Group 4: Investment and Ecosystem Development - The Future Industry Fund employs a dual investment model, combining direct investments in early-stage projects with the establishment of sub-funds to create a comprehensive investment ecosystem [7][9] - The fund has already made significant investments in key areas such as controlled nuclear fusion, AI models, and biomedicine, with a focus on maximizing the impact of its investments [9]

2025.12.08 本文字数：3896，阅读时长大约7分钟 作者 |第一财经 秦新安 郑栩彤 上周（12月1日至5日），深圳企业再掀上市高潮，仅港股市场就有7家深圳科创企业集中递表。其中， 乐动机器人、曦华科技、基本半导体皆为不满10岁的"15后"公司，拟冲刺"A+H"上市的"非洲之王"传音 控股（688036.SH）也只有12岁（A股上市时为6岁）。 事实上，近年来深圳产生了一大批"少年上市公司"。官方统计数据显示，截至目前，深圳已有121家企 业在成立不到十年时就成功上市，包括A股87家、港股34家。其中不乏比亚迪（002594.SZ， 01211.HK）、大族激光（002008.SZ）、影石创新（688775.SH）、奥比中光（688322.SH）、越疆机器 人（02432.HK）等知名企业。 红利转化 记者梳理上述121家公司名单发现，其中大多属于细分行业的国内甚至全球市场龙头，有的还成了所在 行业"第一股"。 例如，成立7年即赴港上市的比亚迪，如今凭借万亿市值成为"中国汽车第一股"；大族激光打破了进口 激光设备对中国市场的垄断，被誉为"国内激光第一股"；影石创新作为全景相机、运动相机领域的"双 料 ...

Economic Overview - The U.S. economy is experiencing a pronounced "K-shaped" growth, with a widening income gap between high-income and low-income groups, exacerbated by a weak job market and persistent inflation [1][3] - Inflation peaked at nearly 9% during the Biden administration, and despite some regulatory measures taken by Trump, inflationary pressures remain significant, impacting the midterm election prospects for the Republican Party [1][3] Labor Market and Income Disparity - Analysis from the Atlanta Federal Reserve indicates that wage growth for low-income groups has slowed significantly compared to high-income groups, erasing much of the progress made in narrowing the income gap over the past decade [3] - The unemployment rate for Latino voters reached 5.5% in September, the highest this year, contrasting with an overall U.S. unemployment rate of 4.4% [3] Consumer Confidence and Spending - A recent survey from the University of Michigan shows a decline in consumer confidence among non-stockholders, with their confidence index lower than during the inflation peak in mid-2022 [4] - Conversely, confidence among the top 20% of stockholders has increased, indicating a wealth effect that supports consumer resilience [4] Impact on Businesses - Companies targeting low-income consumers are experiencing significant impacts from the "K-shaped" trend, with McDonald's reporting a nearly double-digit decline in customer traffic from low-income consumers [5] - Chipotle's CEO noted a similar trend, with significant consumption declines among households earning less than $100,000 [5] Political Context and Economic Policy - Trump is set to address criticisms regarding his economic policies in Pennsylvania, a key swing state for the 2024 election, claiming that the cost of living crisis is a "hoax" created by Democrats [6] - The Republican Party is likely to incorporate the "Big and Beautiful" bill into their campaign, which retains tax cuts from Trump's first term but also reduces spending on medical assistance and food stamps [6] Future Economic Outlook - Economists agree that many ordinary Americans will face increased financial pressure in the next 12 months, with potential cuts to medical assistance and rising healthcare premiums for the middle class [8] - Even with positive GDP growth, middle-income and working-class individuals may find themselves in a recession of declining income [8]

2025.12.08 比起越来越有共识的降息，市场关注焦点还包括美联储可能重启大规模购债。卡巴纳预测，美联储主席 鲍威尔将在下周三宣布每月购买450亿美元国库券（T-bills）的计划，这一购债操作将于2026年1月正式 实施，旨在通过向系统注入流动性，防止回购市场利率进一步飙升。同时，此举也标志美联储重启资产 负债表扩张。 "虽然利率市场对降息反应平淡，但投资者普遍低估了美联储在资产负债表方面的行动力度。目前的货 币市场利率水平表明银行体系的准备金已不再充裕，美联储必须通过重启购买国库券来填补流动性缺 口。"他称。瑞银交易部门也预测，美联储将在2026年初开始每月购买约400亿美元的国库券，以维持短 期利率市场的稳定。 本文字数：3195，阅读时长大约6分钟 作者 |第一财经 后歆桐 本周，全球市场迎来年底前最后一次超级全球央行周。美联储将召开议息会议，除了是否降息，预计还 将宣布美元购债计划。澳大利亚、加拿大、瑞士央行也将公布利率决议。日本央行行长值田和男也将发 表公开讲话。 美联储12月预计降息、重启购债 此前，受夏季美国劳动力市场突然恶化的推动，美联储在10月连续第二次降息。但随后，美联储内部关 于1 ...

| 代码 | 名称 | 现价 | 涨跌幅 | | --- | --- | --- | --- | | 2166 | 芯智控股 | 2.110c | 8.21% | | 0846 | 明发集团 | 0.113c | 4.63% | | 1347 | 华虹半导体 | 79.450c | 4.47% | | 1385 | 上海复旦 | 42.000 c | 3.09% | | 0981 | 中芯国际 | 71.800c | 2.94% | | 0085 | 中电华大科技 | 1.360c | 1.49% | | 2878 | 晶门半导体 | 0.455c | 1.11% | 煤炭、银行、耐用消费品、电信服务等板块跌幅居前，半导体、电气设备、国防军工等板块涨幅居前。 新股卓越睿新尾盘拉升，收涨逾87%。 | ( 日 | | 卓越睿新(2687) | | | | | --- | --- | --- | --- | --- | --- | | | | 闭市 12-08 16:08:18 | | | | | 126.400 | | 额 1.44亿 股本 6667万 | 市盈 80.92 | | 万得 | | +58.900 ...

Group 1 - The core viewpoint of the article emphasizes the proactive macroeconomic policy for 2026, focusing on enhancing economic governance effectiveness and addressing structural contradictions in economic operations [2][3]. - The meeting highlighted the need for a more active fiscal policy and moderately loose monetary policy to stimulate economic growth and improve governance efficiency [3][4]. - The economic growth target for 2026 is set at around 5%, with a focus on maintaining a relatively loose fiscal and monetary policy to achieve this goal [4][5]. Group 2 - The emphasis on domestic demand and building a strong domestic market remains a priority, with strategies to boost consumption, expand effective investment, and eliminate barriers to a unified national market [6][7]. - The article notes that the consumer spending recovery has slowed down, with retail sales growth declining to 2.9% year-on-year in October, indicating potential downward pressure on consumption in the coming months [7]. - Investment strategies will focus on enhancing public services in education, healthcare, and elderly care, as well as advancing frontier technologies like new information technology and renewable energy [8].

| | 12/11/2 | | | | --- | --- | --- | --- | | 002961 | 瑞达期货 | +10.00% | 29.38 | | 002222 | 福晶科技 | +10.00% | 57.77 | | 603122 | 合富中国 | +9.99% | 29.18 | | 000811 | 冰轮环境 | +9.98% | 16.20 | | 601933 | 永辉超市 | +9.92% | 4.32 | | 300062 | 中能电气 | +9.27% | 10.14 | | 600734 | 实达集团 | +7.88% | 6.57 | | 000547 | 航天发展 | +8.70% | 22.36 | | 002093 | 国脉科技 | +8.40% | 14.20 | | 603668 | 天马科技 | +8.10% | 17.61 | 编辑 ｜ 钉钉 | 代码 | 名称 | 涨幅％v | 现价 | | --- | --- | --- | --- | | 300427 | 红相股份 | +19.98% | 12.67 | | 300632 | 光莆股份 | +12.70 ...

Group 1 - The core issue highlighted is the increasing vulnerability of security systems in the face of AI-driven attacks, with the average time to successfully execute an attack decreasing from 9 days in 2021 to just 25 minutes in 2023 [1] - The GEEKCON competition showcased a significant security flaw in a humanoid robot, allowing attackers to remotely control it through a voice command, which raises concerns about systemic risks in future robotic clusters [2] - There is a pressing need for security mechanisms to be integrated from the design phase, rather than relying on post-incident patches, as many companies currently focus on compliance rather than effective security measures [3] Group 2 - The current approach to security, characterized by fragmented defenses and reactive measures, is ineffective against AI-driven threats, as attackers can now simulate legitimate behavior to bypass security systems [4] - The introduction of AI in security operations has the potential to drastically improve efficiency, with AI systems capable of processing significantly more data compared to manual methods, thus enhancing risk monitoring [6] - New security architectures are emerging, such as those proposed by companies like Palo Alto Networks and Fortinet, which aim to create adaptive and self-evolving security systems [6] Group 3 - The concept of pricing security based on effectiveness rather than compliance is gaining traction, with calls for the promotion of cybersecurity insurance to alleviate user anxiety and assess the true capabilities of security vendors [7] - Recent initiatives by the Chinese government to promote cybersecurity insurance indicate a shift towards integrating financial services with cybersecurity, aiming to enhance corporate risk management capabilities [7][8] - The future of cybersecurity may depend on the establishment of verifiable and sustainable operational mechanisms, as insurance models could incentivize companies to improve their defensive capabilities [8]