1月14日，香港恒生指数开盘涨0.46%，恒生科技指数涨0.42%。 GEO概念再度走强，智谱涨逾7%，MINIMAX-WP涨逾2%。 | 名称 | 现价 | 涨跌幅 ▼ | | --- | --- | --- | | 智谱 | 194.700 | 7.10% | | MINIMAX-WP | 375.000 | 2.74% | | 趣致集团 | 25.800 | 1.90% | | 微盟集团 | 2.370 | 1.72% | | 第四范式 | 56.500 | 1.25% | | 迈富时 | 52.450 | 0.96% | | 美图公司 | 9.040 | 0.89% | 消费股走强，海底捞涨超5%。1月13日，海底捞国际控股有限公司发布公告称，苟轶群辞去CEO，张勇 接任。此外，公司的几名执行董事也有变更。 科网股走势分化，阿里巴巴涨逾2%，百度集团、腾讯控股涨逾1%；携程集团跌超3%。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | HSI | 恒生指数 | 26971.97c 123.50 | | 0.46% | | HS ...

Market Overview - The Shanghai Composite Index opened slightly lower, while the Shenzhen Component Index, ChiNext Index, and STAR Market Index opened higher by 0.17%, 0.34%, and 0.35% respectively [1] - The Shanghai Composite Index is currently at 4138.65, down by 0.11% [2] - The Shenzhen Component Index is at 14194.11, up by 24.71 points or 0.17% [2] - The ChiNext Index is at 3333.17, up by 11.28 points or 0.34% [2] - The STAR Market Index is at 1812.33, up by 6.31 points or 0.35% [2] Sector Performance - AI applications and commercial aerospace themes experienced a pullback, while sectors such as memory storage, ultra-high voltage, medical services, precious metals, and AI wearable concepts were active [2] - Debon Securities resumed trading with a limit-up, as the company plans to voluntarily terminate its stock listing through a shareholder resolution [2] Company Highlights - Baiwei Storage opened over 9% higher, with a forecasted net profit increase of 427.19% to 520.22% year-on-year for 2025 [3][4] - Debon Securities saw a limit-up price of 15.44, reflecting a significant market interest following its announcement [3] Hong Kong Market - The Hang Seng Index opened 0.46% higher, with the Hang Seng Tech Index rising by 0.42% [4][5] - Notable gainers among constituent stocks include Haidilao, which rose over 5%, and Nongfu Spring, Hansoh Pharmaceutical, and China Biologic Products, which increased by over 3% [4][5]

2026.01.14 "并不难，用AI一夜就做出来了。"拥有十年开发经验的余香瓜（化名）向第一财经透露，他在看到"死 了么"后，当晚便借助谷歌Gemini模型构建出功能相似的"活着么"，自己全程零代码参与。 除了余香瓜开发的同款，还有一批新的"活着么"App已经出现，第一财经记者在AppStore搜索关键词， 出现了十几款类似的打卡应用。有行业人士公开表示，这类App技术门槛太低，容易被复刻。 本文字数：3010，阅读时长大约5分钟 作者 |第一财经 刘晓洁 1月13日晚，此前因名称引发广泛关注的"死了么"App正式宣布改名。官方表示，经团队审慎评估，该 应用将在新版本中启用全球化品牌名"Demumu"，原中文名称将不再作为主标识使用。下一步将继续坚 持安全守护定位，把源自中国的服务方案推广到海外，服务更多独居人群。 过去一周，独居安全App"死了么"爆火。从1月10日起，这一App已连续4天位列苹果AppStore的付费榜 第一，团队对媒体表示，目前日均新增用户数是爆火前的500倍。 据悉，3天里已经有60多位投资人找上门，"死了么"的估值已经上升到数千万元。第一财经向团队发去 问询确认，截至发稿未获回复。 ...

2026.01.14 本文字数：1035，阅读时长大约2分钟 作者 |第一财经 陈姗姗 据记者了解，德邦股份此次主动退市，核心原因之一是京东物流此前收购德邦时解决同业竞争的承诺的 履行。 2022年3月，德邦股份公告，京东卓风将通过受让德邦控股部分股份且同时接受德邦控股部分股东委托 获得德邦控股部分股份对应的表决权的方式，实现对德邦控股的控制，从而间接控制德邦控股所持有的 上市公司66.4965%股份。 之后，京东卓风于2022年9月6日出具承诺，自要约收购完成之日起五年内，通过具有可操作性的方式解 决京东物流与德邦股份的同业竞争问题。 如今，德邦被要约收购已经进入第四年，投资者平台上也出现关于德邦股份通过资产注入、京东物流回 A股等多种猜想。不过，相关投行业内人士认为，从监管要求、业务逻辑与行业实际来看，这些路径均 不具备可行性，京东物流体系其他物流资产的注入也无法解决核心的同业竞争问题。 对于德邦股份最终选择退市，有业内人士分析称，目前维持德邦股份上市地位的实际收益有限，成为非 上市公司后，德邦股份可全面接入京东物流体系的核心资源，无须受限于上市公司的信息披露节奏与盈 利短期压力。 财报数据显示，2025 ...

2026.01.14 上半年业绩下滑、舆论纷争不断、餐饮大环境不温不火，海底捞2025年的日子并不好过。 距离张勇卸任CEO已经快四年了。这四年间，海底捞经历过疫情期间的大亏，也完成了疫情后连续2年 净赚40多亿元的成绩。公司的股价则从2021年85港元的高点跌至如今的14港元。 此时，张勇的回归，核心任务或许正是应对这一复杂局面。回顾海底捞此前的几次CEO换帅，似乎都出 现在公司需要变革之际。 海底捞上市后第一次换帅，出现在公司业绩下滑之后，公司推出新战略之时。2021年，海底捞大亏40多 亿元后，杨利娟接棒CEO，作为海底捞"啄木鸟计划"的领导者，杨利娟在任职期间，关闭了一些严重亏 损的门店，及时止损。2022年，海底捞归母净利润达到13.73亿元，2023年海底捞完成了44.95亿元净利 润。 而在2024年苟轶群接棒之时，海底捞的业绩已经进入相对稳定的阶段，但公司已经开始探索多元化发 展，推出露营火锅、校园火锅、企业火锅等新模式，打造了牛肉工坊、海鲜工坊、羊肉工坊等主题店， 也孵化了一些列除了主品牌"海底捞"之外的新品牌。 进入2026年，海底捞即将进入更加多业态、多品牌并行推进的阶段，各业务板块之间 ...

2026.01.14 本文字数：1469，阅读时长大约2分钟 作者 |第一财经 胡弋杰 美国股市周二收盘走低，金融板块成为主要拖累因素。投资者对摩根大通财报反应偏冷，同时担忧美国 总统特朗普提出的信用卡利率上限建议可能压缩金融机构盈利空间，并对经济与消费者信贷造成冲击。 截至收盘，标普500指数下跌0.19%，报6963.74点；道琼斯工业平均指数下挫398.21点，跌幅0.8%，报 49191.99点；纳斯达克综合指数小幅下跌0.1%，报23709.87。 科技巨头方面，英特尔大涨7.33%，超威半导体上涨6.39%，Alphabet A股与C股分别上涨1.24%和 1.11%，英伟达上涨0.47%，苹果上涨0.31%。微软下跌1.36%，Meta Platforms下跌1.69%，亚马逊下跌 1.57%，特斯拉小幅下跌0.39%。 纳斯达克中国金龙指数下跌1.84%。个股中，拼多多重挫5.40%，腾讯控股（ADR）下跌2.79%，京东下 跌2.77%，富途控股下跌2.14%，蔚来下跌3.51%，万国数据下跌3.77%。阿里巴巴逆势小幅上涨0.42%。 标普500指数11个主要板块中，金融板块跌幅居首，下跌 ...

【财经日历】 中国2025年12月贸易帐 美国2025年11月PPI、11月零售销售月率 欧佩克公布月度原油市场报告 EIA公布月度短期能源展望报告 财报发布：美国银行、花旗集团、富国银行 | | STATISTIC CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION OF | | | | --- | --- | --- | --- | | 名称 | 现价 | 涨跌 | 涨跌幅 | | 道琼斯工业平均 | 49191.99 -398.21 | | -0.80% | | 纳斯达克指数 | 23709.87c -24.03 | | -0.10% | | 标普500 | 6963.74 -13.53 | | -0.19% | 当地时间周二，美国股市走低，截至收盘，标普500指数跌0.19%，道指跌0.8%，纳指跌0.1%。 科技巨头方面，英特尔大涨7.33%，超威半导体上涨6.39%，Alphabet A股与C股分别上涨1.24%和 1.11%，英伟 ...

Core Viewpoint - The recent policy adjustment by regulatory authorities aims to provide a recovery period for compliant and quality real estate projects facing market downturns, balancing the need to ensure project delivery and mitigate risks [2][7][11]. Group 1: Policy Details - The new policy allows projects on the financing coordination mechanism "white list" to extend loans with certain conditions, potentially increasing the loan extension period to five years, providing more time for cash flow management [3][4]. - As of March 2024, the approved loan amount for "white list" projects exceeded 5.2 trillion yuan, increasing to 2.23 trillion yuan by October 2024, with total approvals surpassing 7 trillion yuan [4][11]. Group 2: Market Impact - The policy is expected to directly support state-owned enterprises, quality private enterprises, and those with strong credit ratings, while distressed real estate companies may benefit less [11][12]. - Banks may experience temporary relief from non-performing loan data through loan extensions, but the underlying risks remain, with market sales recovery being crucial for long-term risk mitigation [2][12]. Group 3: Challenges and Considerations - The effectiveness of the policy hinges on the quality of collateral, as nearly 60% of institutions view providing sufficient collateral as a major challenge for financing [6][11]. - The specific criteria for qualifying projects, collateral revaluation, interest rate determination, and risk classification rules are still pending clarification [6][9]. Group 4: Long-term Implications - The policy reflects a shift from short-term relief to long-term support for real estate financing, indicating a new financing model for the industry [8][9]. - Analysts suggest that the policy aims to create conditions for market recovery, but the actual impact will depend on the execution of the policy and the real estate market's sales performance [11][15].

Core Insights - The three-year action plan for deepening state-owned enterprise (SOE) reform has largely been completed, with significant achievements in structural layout, technological innovation, corporate governance, and regulatory mechanisms [2][3] - The State-owned Assets Supervision and Administration Commission (SASAC) emphasizes that while the action plan has concluded, the reform process must continue to deepen and consolidate its results [2] Group 1: Achievements in Reform - SOEs have undergone fundamental changes through multiple rounds of reform, contributing significantly to economic and social development, although challenges remain in original innovation capabilities and safety support in key areas [3] - Central enterprises have established 97 original technology sources and 23 innovation consortia, promoting collaborative research and development [3] - Central enterprises have opened 134 pilot verification platforms and created over 800 application scenarios across 16 key industries [3] Group 2: Strategic Developments - In the strategic emerging industries, central enterprises achieved revenues exceeding 11 trillion yuan from January to November 2025, with significant investments in biopharmaceuticals and low-altitude economy sectors [4][5] - The SASAC is promoting the restructuring and professional integration of SOEs to enhance efficiency and focus on key sectors [5] Group 3: Future Reform Directions - The "14th Five-Year Plan" and subsequent actions have shifted SOE reform from institutional construction to efficiency enhancement, laying a foundation for deeper changes in the "15th Five-Year Plan" [7] - The SASAC plans to further improve the modern enterprise system with a focus on enhancing core functions and competitiveness of SOEs [7][8] - The restructuring of major state-owned enterprises, such as the merger between Sinopec and China Aviation Oil, is seen as a significant step towards optimizing layout and responding to international competition [8][9]

Core Viewpoint - The "Dead or Not" team announced the rebranding of their app to "Demumu" in its upcoming version, aiming to expand its services globally to more individuals living alone, following significant growth in overseas markets [1]. Group 1 - The app will officially adopt the global brand name "Demumu" in its new version [1] - The team has observed explosive growth in overseas services [1] - The goal is to serve a larger global community of individuals living alone [1]