从本月起，首版《商业健康保险创新药品目录》（下称"商保创新药目录"）开始在各地启用。 作为普惠型商业健康保险产品代表之一，惠民保近年来得到普及。而惠民保参保者，尤其是一些重疾患 者，到底能从商保创新药目录获益多少？ 首版商保创新药目录在医保目录之外，收录了19种临床价值突出但超出医保支付能力的创新药。从治疗 领域看，这些药品覆盖肿瘤、罕见病、神经退行性疾病及代谢类疾病多个关键领域，具体包括CAR-T治 疗药物、阿尔茨海默症治疗药品、神经母细胞瘤和戈谢病等罕见病治疗药品，填补了基本医保目录空 白。 以CAR-T药物为例，有血液肿瘤医生对第一财经记者表示，对于一些真正难治的血液瘤患者而言， CAR-T是较好的治疗手段，在没有这类疗法之前，一些患者的中位生存期只有半年，但有了这种治疗手 段后，有部分患者的生存期可以提高到五年及五年以上，但CAR-T疗法费用高昂，无法在患者中得到普 及。商保支付的话，可以减轻患者费用负担。 值得注意的是，该产品也标注称"必须为住院期间使用，且合并在住院医疗费用中一并结算并上传到国 家医保平台的全自费药品费用才可纳入"。 换言之，如果进入商保创新药目录的创新药无法顺利入院的话，参保的患 ...

芯片股走强，纳芯微涨超13%，华虹半导体涨5%。 | 小朋与六七十一-VV | 78.050 | -2.19% | | --- | --- | --- | | 9868.HK | | | | 零跑汽车 | 49.440 | -2.10% | | 9863.HK | | | | 理想汽车-W | 66.800 | -1.69% | | 2015.HK | | | | 毕 里 毕 里 - W | 211.000 | -1.59% | | 9626.HK | | | | 小米集团-W | 38.160 | -1.55% | | 1810.HK | | | | 美团-W | 104.500 | -1.51% | | 3690.HK | | | 医药股尾盘拉升，荣昌生物涨近13%，凯莱英、泰格医药等涨超8%。 | 名称 | 现价 | 涨跌幅 ◆ | | --- | --- | --- | | 荣昌生物 | 91.700 | 12.93% | | 9995.HK | | | | 中国抗体-B | 1.590 | 11.97% | | 3681.HK | | | | 创胜集团-B | 2.410 | 11.57% | | ...

Core Insights - The People's Bank of China reported that as of the end of December, the country's gold reserves reached 74.15 million ounces, marking an increase of 30,000 ounces and representing the 14th consecutive month of gold accumulation [1]. Group 1: Gold Reserves - China's gold reserves stood at 74.15 million ounces at the end of December, reflecting a month-on-month increase of 30,000 ounces [1]. - This increase in gold reserves indicates a sustained strategy of accumulation by the People's Bank of China over the past 14 months [1]. Group 2: Foreign Currency Reserves - As of December, China's foreign currency reserves amounted to approximately 33,578.69 billion USD, showing a slight increase from 33,463.72 billion USD in November [2]. - The IMF reserve position rose from 110.59 billion USD in November to 111.79 billion USD in December [2]. - Special Drawing Rights (SDRs) increased marginally from 557.16 billion USD to 558.24 billion USD during the same period [2]. Group 3: Other Reserve Assets - Other reserve assets showed a minor improvement, with a change from -1.43 billion USD in November to -0.15 billion USD in December [2]. - The total reserves, including all categories, increased from 37,236.51 billion USD in November to 37,443.07 billion USD in December [2].

Core Insights - The article highlights the collaboration and competition among four major chip companies: NVIDIA, Intel, AMD, and Qualcomm, during the Lenovo Tech World event, emphasizing the evolving landscape of the AI industry [2] - A new partnership between Lenovo and NVIDIA aims to quadruple their business collaboration over the next three years, focusing on AI infrastructure and deployment [3][4] - The shift from traditional computing to AI-driven applications is reshaping the IT industry, with an estimated investment of $10 to $15 trillion needing upgrades to accommodate new AI architectures [4] Group 1: Collaboration and Partnerships - Lenovo and NVIDIA announced a new initiative called "Lenovo AI Cloud Super Factory," which aims to standardize AI infrastructure and streamline AI deployment for clients [5] - This collaboration is expected to help cloud service providers reduce the "time to first token" for AI deployment and scale up to 100,000 GPUs [7] - Lenovo will also be one of the first adopters of AMD's Helios AI platform, indicating a strategic partnership to address enterprise needs for local inference and data security [8] Group 2: Industry Trends and Innovations - NVIDIA's focus is on GPU-accelerated computing, while AMD emphasizes system-level architecture, showcasing the need for a comprehensive computing ecosystem rather than a single chip solution [8] - Intel's new AI PC, Aura Edition, represents a shift in the traditional PC market towards AI integration, highlighting the convergence of legacy computing systems with new AI paradigms [9] - Qualcomm is targeting AI-native endpoints, collaborating with Lenovo to develop wearable devices that function as "personal intelligent companions," indicating a trend towards low-power, always-connected devices [10] Group 3: Market Potential and Future Outlook - The wearable device market is projected to exceed one billion units, showcasing significant growth potential in this segment [11] - The article emphasizes that the true value of AI lies not in having the most powerful chip but in the ability to transform computing power into usable capabilities for businesses and consumers [11]

Market Overview - A-shares experienced narrow fluctuations on January 7, with the Shanghai Composite Index rising by 0.05%, the Shenzhen Component Index by 0.06%, the ChiNext Index by 0.31%, and the STAR Market Index by 1.53% [1][2]. Sector Performance - The semiconductor industry chain showed strength, with photolithography machines and memory sectors leading the gains. Active sectors included rare earths, CPO, innovative pharmaceuticals, and short drama gaming themes. Conversely, digital currency and cross-border payment sectors adjusted, while brokerage and oil & gas sectors saw significant declines [2][6]. Individual Stock Highlights - Notable stocks in the photolithography and photolithography adhesive sectors included: - Jiasian Co. (+25.68%) - Gaomeng New Materials (+20.03%) - Huarong Chemical (+20.03%) - Nanda Optoelectronics (+20.00%) - Xinyuan Micro (+20.00%) [3][4]. - The coal sector experienced a collective surge, with stocks such as Dayou Energy, Antai Group, and Shaanxi Black Cat hitting the daily limit [4]. Trading Volume and Market Sentiment - The total trading volume in the Shanghai and Shenzhen markets reached 2.85 trillion yuan, an increase of 476 billion yuan compared to the previous trading day, with nearly 3,200 stocks declining [4][6]. Capital Flow - Main capital inflows were observed in coal, electric grid equipment, and semiconductor sectors, while outflows were noted in computer, consumer electronics, and securities sectors [6][7]. Institutional Insights - Dongfang Securities noted that the market opened positively, with a favorable outlook for technology growth stages. - CICC highlighted an improvement in market risk appetite, suggesting that the spring market trend may continue. - China Merchants Securities indicated that A-shares are likely to maintain an upward trend, with a high probability of continuing the spring offensive [8].

2026年的第一个月，陪伴机器人品牌 Ropet 进驻上海IFC国金中心内的 ZPilot 黑科技旗舰店。这似乎是 一个信号，陪伴机器人，正在从线上众筹与科技爱好者圈层，走向更具象的消费场景。 过去几年间，从桌面型陪伴机器人到AI玩具，相关产品形态不断被复制、拆解和重组。直到2026年， 这一曾经小众且缓慢生长的领域，终于"挤满了人"。第一财经记者采访Ropet、Haivivi等中国陪伴机器 人企业后了解到，在逐渐标准化的供应链体系和高度趋同的功能设计之下，这一领域正从概念探索期， 迈入真正的商业竞争阶段。 端到端的"黑箱"大模型或成软肋 不同企业的选择开始分化，相比部分玩家强调 GMV 与快速放量，也有团队选择放慢节奏，试图用更长 期的产品逻辑参与竞争。 一个机器人，要怎样表达自己的情感？对话似乎确实是一个更省力的方法。 在连续使用六款陪伴机器人之后，记者发现，大部分陪伴类硬件都能够和用户进行对话，部分产品需要 用唤醒词进行对话触发。有陪伴机器人企业的创始人告诉第一财经记者，对话是最直接能够体现产品 AI属性的功能。 "接入一个豆包、元宝、DeepSeek就能实现，我们只需要把响应延迟降低就好。"他告诉记者 ...

在中韩经贸合作深入的背景下，2026年开年，中国制造业企业正与韩国企业展开广泛合作，提升在全球 供应链中的影响力。今年恰逢TCL成立45周年，作为中国企业全球化的先行者，TCL在创始人、董事长 李东生的带领下，正持续强化产业纵深与全球布局，在技术密集型产业赛道向产业链上游发展，并冲 刺"在海外再造五个TCL"的目标。该公司当前正积极推进与韩国企业的长期合作、积极进入全球市场。 在大洋彼岸的美国拉斯维加斯，开年的首个重要消费电子展CES（国际消费电子展）则于1月6日开幕。 TCL作为中国品牌中展位最大的展商之一，将展出智能终端、半导体显示和新能源光伏三大主要业务的 最新成果。从产业链合作到全球市场开拓，站上了全球化新起点的TCL正持续推动变革转型。 1月5日，由中国贸促会、韩国大韩商工会议所共同主办的中国—韩国商务论坛在京举行，来自中韩两国 的政府官员、工商界人士、专家学者等400余人出席论坛。此次三星电子、SK集团、现代汽车、LG集 团四大集团会长等200多名韩国企业家组成的经济代表团也出席了论坛。 一年一度的CES在美国拉斯维加斯举行 全球影响力升级 中国制造在全球价值链中有着不可替代的系统性优势，这种强劲 ...

Core Insights - The CES 2026 in Las Vegas showcased a strong presence of Chinese humanoid robotics companies, indicating a shift from laboratory innovations to real-world applications [2][3] - The event highlighted the increasing popularity and competitiveness of Chinese robotics in the global market, with many companies making their debut at CES [3][6] Group 1: Company Highlights - Unitree Technology's booth attracted significant attention with a robot fighting demonstration, showcasing the capabilities of their G1 humanoid robots [3][5] - The debut of ZhiYuan Robotics featured a dancing humanoid robot, which captivated foreign audiences and emphasized China's innovative edge in robotics [6] - Fourier's "Care-bot" concept prototype aims to explore emotional companionship through a lightweight design, targeting over 2,000 medical institutions globally [10][11] Group 2: Market Trends - The event saw a notable focus on consumer-oriented (C-end) products, with companies like VITAPOWER introducing interactive four-legged robots that can autonomously follow users [10][15] - Magic Atom reported that over 60% of its revenue comes from overseas, highlighting the global demand for their robots, including the MagicBot Gen1 for industrial applications [15] - Companies are leveraging CES for brand exposure and to secure overseas orders, aiming to establish a foothold in international markets [15]

第一财经记者1月7日从宜家获悉，宜家决定自2026年2月2日起停止运营包括宜家上海宝山商场、宜家广 州番禺商场、宜家天津中北商场、宜家南通商场、宜家徐州商场、宜家宁波商场和宜家哈尔滨商场在内 的七个线下触点。 当地顾客仍可通过所在城市（例如上海、广州、天津）的其他宜家商场或宜家官网、宜家APP、宜家微 信可购物小程序、天猫旗舰店及京东旗舰店等全渠道继续体验宜家产品和服务。 宜家称，这一决定是宜家在中国深化转型过程中的重要一步，旨在为未来的业务增长构建更具韧性的基 础，并聚焦本土相关性，以提供可负担的家居产品与解决方案。 在接下来的两年内宜家计划开设超过十家小型门店，包括将于2026年2月开业的宜家东莞商场和将于 2026年4月开业的北京通州商场。 记者｜乐琰 编辑｜瑜见 ...

Core Viewpoint - NIO has reached a significant milestone by producing its one millionth electric vehicle, marking its entry into the "million club" alongside other new energy vehicle manufacturers, and it aims to focus on future growth and profitability [1][2][9]. Group 1: Milestone Achievement - NIO's one millionth electric vehicle rolled off the production line, making it the second global brand after Tesla to achieve this milestone [1]. - The company has faced scrutiny regarding its survival, but reaching this production milestone is seen as a turning point [2][9]. Group 2: Financial Performance and Goals - NIO reported a non-GAAP loss of 2.7 billion RMB in Q3 2025, with a focus on achieving profitability in Q4 2025 [2]. - The company aims to deliver an average of 50,000 vehicles per month in Q4, but actual deliveries fell short at 124,800 units for the quarter, missing the target by approximately 20% [3]. - NIO's annual sales target for 2025 was set at 440,000 units, but it only achieved 326,000 units, indicating a completion rate of less than 80% [4]. Group 3: Market Competition and Challenges - NIO faces increasing competition from state-owned enterprises and joint ventures, as well as new entrants like Huawei and Xiaomi, which are impacting market dynamics [5]. - The main brand's sales declined by 11.13% from 2024 to 2025, contributing to the shortfall in meeting sales targets [5]. Group 4: Growth Strategy - NIO aims for annual growth of 40% to 50%, projecting sales of 1.75 million vehicles by 2030 based on its current performance [6]. - The company plans to enhance its sales and service network, targeting over 210 cities for coverage [5]. Group 5: Cost and Infrastructure Challenges - NIO has invested 65 billion RMB in R&D and 18 billion RMB in charging infrastructure, but faces cost pressures from supply chain fluctuations, particularly in lithium and chip prices [7]. - The company is also focused on building a robust infrastructure, with plans to establish 1,000 battery swap stations by 2026 and over 10,000 by 2030 [8]. Group 6: Long-term Vision - NIO continues to define itself as a startup, emphasizing the need to maintain an entrepreneurial mindset and improve its market share [9]. - The company acknowledges that while it has overcome immediate survival challenges, the path to profitability remains a critical focus [10].