Group 1 - Tencent has launched a 1 billion yuan red envelope campaign for the Spring Festival, allowing users to receive cash or a chance to win a 10,000 yuan prize [1][3] - This initiative aims to drive traffic to Tencent's consumer-facing application, Yuanbao, similar to the 5 billion yuan cash red envelope campaign during the 2015 Spring Festival, which significantly expanded WeChat Pay's user base [3] - Other AI companies are also participating in the Spring Festival marketing battle, with Baidu announcing a 500 million yuan red envelope campaign and ByteDance's Volcano Engine becoming the exclusive AI cloud partner for the 2026 Spring Festival Gala [3] Group 2 - The domestic generative AI user base reached 515 million by June last year, doubling in six months, with a penetration rate of 36.5% [3] - Active AI applications such as Doubao, DeepSeek, and Yuanbao have emerged, with multiple AI companies aiming to gain a competitive edge during the Spring Festival marketing period [3] - Yuanbao has begun testing a new social feature called "Pai," allowing users to create groups for chatting and video calls, which will soon be open for public testing [4] Group 3 - Previous marketing efforts for Yuanbao included extensive advertising and grassroots promotions, leading to a rise in its recognition and ranking as the top free app in the Apple App Store in China [4] - The ability of AI applications to capture user attention will depend on the capabilities of their underlying models, with expectations for new model releases from several companies around the Spring Festival [5]

Group 1: Company Announcements - Chipway Technology will release its 2025 annual report on February 3, becoming the first listed company on the Shanghai Stock Exchange to do so [1] - ST Huawang will disclose its annual report on February 13, while Shangwei Co. will do so on February 14 [1] Group 2: Oil Price Adjustments - The next price adjustment window for refined oil products will open at 24:00 on February 3, based on the "ten working days" principle [2] - As of January 30, the average price of reference crude oil was $64.09 per barrel, with a change rate of 4.68%, leading to an expected increase of 190 yuan per ton in domestic gasoline and diesel prices [2] Group 3: Industry Conferences - The China Photovoltaic Industry Association will hold a seminar on February 5 in Beijing to review the development of the photovoltaic industry in 2025 and forecast trends for 2026 [3] - A Brain-Computer Interface Developers Conference will take place in Tianjin from February 3 to 4, organized by the Brain-Computer Interface Industry Alliance and Tianjin University [3] Group 4: Stock Unlocking Events - A total of 42 companies will have their restricted shares unlocked from February 2 to February 6, with a total of 4.657 billion shares and a market value of 103.669 billion yuan based on the closing price on January 30 [5] - February 2 is the peak unlocking day, with 18 companies unlocking shares worth a total of 60.71 billion yuan, accounting for 58.56% of the total unlocking scale for the week [5] - The top three companies by unlocking market value are Xinda Securities (44.879 billion yuan), Zhongwei Semiconductor (13.381 billion yuan), and Changjiang Power (12.151 billion yuan) [5] Group 5: New Stock Opportunities - Two new stocks, Aide Technology and Yisiwei, will be available for subscription on February 2 [9] - Aide Technology has a subscription price of 7.67 yuan, while Yisiwei is priced at 55.95 yuan, with respective P/E ratios of 14.98 and 90.39 [10]

2026.01.31 本文字数：1178，阅读时长大约2分钟 作者 |第一财经 郑栩彤 黄仁勋春节前访华到达上海、北京、深圳后，近日又到达中国台湾，宴请当地供应链厂商，并在接受采 访时回答了关于投资OpenAI、AI基础设施建设的话题。 据当地媒体报道，1月31日，黄仁勋到达中国台湾第三天，出现在台北四平商圈，并采购了蜜饯。黄仁 勋现场称，水果干、各类花生糖和其他零食都非常棒，是他儿时的味道。 此次行程中，黄仁勋与当地供应商的交流备受关注。1月31日晚间，黄仁勋宴请了英伟达的供应链伙 伴，参加晚宴的包括纬创董事长林宪铭、台积电董事长魏哲家、广达创始人林百里及副董事长梁次震、 和硕集团董事长童子贤、鸿海董事长刘扬伟、仁宝董事长陈瑞聪、联发科执行长蔡力行、华硕创始人施 崇棠等。晚宴结束后，黄仁勋送魏哲家离开。 针对ASIC（专用集成电路）带来的竞争，黄仁勋表示，ASIC一直有需求，但英伟达做的事情非常不一 样。一方面，英伟达不只做一种芯片，而是参与到整个AI基础设施建设过程，做的产品包括CPU、 GPU、网络芯片、交换器芯片等。另一方面，英伟达与几乎所有AI公司合作，包括谷歌。此外，英伟 达与每一个云都相关，一些 ...

2026.01.31 本文字数：2666，阅读时长大约4分钟 作者 |第一财经 李秀中 在广东和新疆统计局30日发布了去年经济数据之后，全国31个省份去年GDP结果全部揭晓。在总量排名 上，31个省份基本上保持稳定，只有重庆超越辽宁发生变动；在经济增速上，西藏继续领跑全国。 西藏领跑 2025年，西藏全区固定资产投资同比增长17.2%。2023年，全区固定资产投资比上年增长35.1%（不含 川藏铁路雅安至林芝段西藏境内投资）。2024年，西藏固定资产投资同比增长19.6%，其中，计划总投 资5000万元及以上项目投资增长39.7%。 2025年，西藏第二产业增加值1156.24亿元，同比增长9.6%。西藏统计局称，依托资源禀赋，聚焦资源 加工业、清洁能源开发等特色产业，新型工业化步伐不断加快，工业生产延续平稳向好态势。规模以上 工业增加值同比增长12.4%。全区进一步加大建筑业经济运行调度，有力推动建筑业在地统计改革， 2025年全区建筑业增加值同比增长10.3%。 1月29日，西藏统计局发布，2025年，全区实现生产总值3031.89亿元，按不变价格计算，同比增长 7.0%，增速连续四个季度位居全国前列。 ...

直播带货行业将迎来大变动。 为了加强直播电商监督管理，保护消费者和经营者的合法权益，促进直播电商健康发展，国家市场监督 管理总局、国家互联网信息办公室发布的《直播电商监督管理办法》（下称"《办法》"）将在2月1日开 始施行。 过去几年，直播行业经历了野蛮生长，也出现了乱象。随着《办法》的施行和从业者的积极参与，行业 将进入合规发展的新阶段。 新规也改变了主播的工作。 海豚惊喜社平平对第一财经记者透露，《办法》推出之后直播间选品变得更严了，从选品到售后，每个 环节都会卡审核关。例如播前一级审商家资质，模糊的许可证、过期的检测报告直接不通过。二级审核 手卡和选品，尤其是婴幼儿食品、保健食品这些高风险品类。此外，直播时必须配跟播人员，主播口播 错了立马纠正。直播结束后还要复盘，直播回放至少保存3年，想查随时能调。 抬高行业"专业低线" 即将施行的《办法》，对直播生态链中的各个角色进行了更清晰的责任划分，强调"责任共担"。 对此，谦寻高级副总裁古默对第一财经记者表示，"责任共担"通俗意义解释就是把消费者的投诉当回 事。他认为"责任共担"对行业来说是好事，让各方都不敢缺位。谦寻此前也一直在尝试这个方向的探 索。一方面， ...

2026.01.31 本文字数：1371，阅读时长大约2分钟 作者 |第一财经 宋婕 第一财经记者梳理发现，头部黄金品牌的金饰克价涨跌幅度有所分化。 部分品牌报价连跌两日之后，依然要比28日报价更高。例如，周大福今日报价的1625元/克，就比该品 牌在28日的1618元/克要高。六福珠宝的金饰克价在29日达到了1704元/克的高位，30日回落到1683元/ 克，31日报价1623元/克，依然要比该品牌在28日的1616元/克要高。 但部分品牌价格下调的幅度更大，例如老凤祥的金饰克价仅31日就降了170元。该品牌曾在1月29日达到 1713元/克，30日报价回落到1668元/克，31日报价低至1498元/克，比该品牌在28日报价1620元还要低不 少。老凤祥最新的金饰克价距离历史高价已跌去215元/克。 在金价大幅震荡的过程中，不同金饰品牌及不同品类产品的价格表现分化显著。 1月30日，黄金遇40年来最大单日跌幅，白银创历史最大盘中跌幅。国内主要品牌的金饰克价与国际金 价同频，在大涨之后迎来了大跌。29日，多家头部金饰品牌克价突破1700元大关，刷新历史记录。而大 涨的行情在30日戛然而止，金饰克价从高位回落， ...

Group 1 - OPEC+ will hold a monthly meeting to discuss oil production policies [2] - The U.S. will release January ADP employment data and the European Central Bank will announce its interest rate decision [2] - Major companies such as Alphabet, Qualcomm, and Amazon are set to disclose their earnings [2][4] Group 2 - The China National Bureau of Statistics will publish January CPI and PPI data [4] - The International Energy Agency (IEA) will release its monthly oil market report [4] - The U.S. Energy Information Administration (EIA) will provide its monthly short-term energy outlook report [4]

Core Viewpoint - The transformation journey of Metters Bangwei is challenging, with the company forecasting a net loss of 230 million to 300 million yuan for 2025, indicating an expansion of losses [2] Group 1: Financial Performance - The company is adjusting its product strategy and actively reducing historical inventory, which has impacted revenue and gross margin [2] - In 2024, the company's revenue dropped nearly 50% to 680 million yuan, with a net loss of 195 million yuan [4] - For the first half of 2025, the company reported revenue of 227 million yuan, a year-on-year decline of 45.2%, and a net profit attributable to shareholders of 9.93 million yuan, down 87.1% [4] Group 2: Strategic Changes - The founder, Zhou Chengjian, returned as chairman and initiated significant reforms, shifting the brand positioning from "trendy casual" to "trendy outdoor" and launching a logo upgrade [2] - The company proposed a strategy of "50 city experience centers + 10,000 community stations" to drive foot traffic through local group buying on Douyin [4] - In the latter half of 2025, the company began to downplay its outdoor positioning and returned to a multi-category approach, forming four matrices: retro academy, trendy street, urban commuting, and outdoor exploration [4] Group 3: Market Challenges - Industry insiders believe that while outdoor apparel is trending, Metters Bangwei lacks the inherent brand identity to compete with specialized brands [5] - The "alternative to Arc'teryx" strategy faces challenges as it struggles with high-end recognition and affordability perceptions among consumers [5] - Despite efforts to restore the brand's leading position, ongoing performance pressures indicate a long road ahead for the company [5]

1月31日，周大福金饰报价1625元/克，周生生金饰报价1618元/克。而1月29日周大福金饰报价1706元/ 克、周生生金饰报价1708元/克，1月30日周大福金饰报价1685元/克、周生生金饰报价1683元/克。 以此计算，周大福金饰克价在1日内跌了60元、2日跌了81元。周生生金饰克价1日跌了65元，2日跌了90 元。 国际金价崩盘跳水之际，这几天金饰克价继续跌，从1700元掉到1500元。在国内头部金饰品牌克价一度 冲破1700元大关之后，价格迎来了持续的回落。 ...

Core Viewpoint - The nomination of Kevin Warsh as the next Federal Reserve Chairman has alleviated market concerns regarding the Fed's independence, leading to a significant rise in the dollar and a sharp decline in precious metals prices [2][3]. Group 1: Market Reactions - The COMEX silver price for February delivery plummeted over 35%, reaching a low of $74 per ounce, while COMEX gold fell more than 10%, nearing $4,700 [2]. - The sell-off extended to the entire precious metals market, with LME platinum and palladium futures both dropping over 15%, entering a technical bear market alongside silver [2]. Group 2: Analysis of Price Movements - Analysts attribute the panic selling to profit-taking and overcrowded trading positions, with leveraged positions exacerbating market volatility [3][4]. - The market is currently trading on "hawkish" expectations regarding Warsh's nomination, which has contributed to a stabilization of the dollar and a decline in precious metals prices [3]. Group 3: Investor Behavior - The precious metals market has seen a significant accumulation of leveraged positions, particularly in silver, leading to forced selling as prices dropped [3][4]. - Retail investor sentiment has been a significant driver of recent silver price volatility, indicating a crowded trade environment [4]. Group 4: Historical Context and Future Outlook - Over the past 12 months, precious metals prices surged due to various factors, including market volatility, dollar depreciation, and geopolitical tensions [5]. - The World Gold Council reported that global gold demand reached a record high, with total demand expected to exceed 5,000 tons by Q4 2025, valued at $555 billion, marking a 45% year-on-year increase [6]. - Despite a slowdown in central bank gold purchases, the demand for gold as a hedge against economic uncertainty remains strong, with geopolitical events continuing to drive safe-haven demand [6][7]. Group 5: Long-term Projections - A hypothesis suggests that if private investors increase their gold allocation from 3% to 4.6%, gold prices could theoretically rise to between $8,000 and $8,500 per ounce [7]. - Short-term corrections in gold and silver prices may present buying opportunities, with a reasonable support level for gold identified below $5,000 per ounce [7].