2025.12.22 《规则》还明确："平台经营者、平台内经营者不得违反《中华人民共和国价格法》第十四条第二项规 定，以排挤竞争对手或者独占市场为目的，以低于成本的价格销售商品或者提供服务，扰乱正常的生产 经营秩序，损害国家利益或者其他经营者合法权益。降价处理鲜活商品、季节性商品、积压商品、临期 商品等商品，或者有正当理由降价提供服务的除外。" 港股100研究中心顾问余丰慧向第一财经记者表示，《规则》的发布，对依赖补贴和低价策略吸引用户 的部分互联网平台公司来说，将促使这些企业重新审视定价策略和商业模式，需要转向更加健康可持续 的发展路径，例如提升服务质量和产品差异化。短期内，部分公司的营收增长可能面临一定压力，但长 期来看有利于行业健康发展。 奶酪基金投资经理潘俊表示，《规则》明确禁止"以低于成本的价格销售商品或者提供服务"等不正当竞 争行为，并要求动态定价、补贴促销等规则公开透明，目的是为了规范平台价格行为、禁止低价倾销、 价格欺诈、强制补贴等，保护消费者和平台内经营者权益，推动平台经济健康发展。 潘俊认为，《规则》将削弱平台"烧钱换市场份额"的能力。美团、京东集团、阿里巴巴今年的外卖大 战，在规则落地后 ...

记者｜武子晔 记者获悉的一份《停止保时捷尊享充电的用户通知》显示，保时捷尊享充电服务（含所有保时捷自建高 功率直流充电站）将停止提供，并逐步从保时捷App及保时捷微信小程序的充电地图中移除。保时捷中 国对记者称，从2026年3月1号开始，保时捷将对尊享充电服务设施进行有序地裁撤。此后，保时捷将转 向与行业头部充电运营商进行深度合作。 今日，保时捷中国向第一财经确认：该公司自建充电网络将于2026年3月1日起逐步停止运营，总计约 200家充电站。 编辑 ｜钉钉 ...

Group 1 - The stock of Zhongtian Service experienced a significant drop, hitting the daily limit down, with a decline of 9.1% to 6.79 yuan, and a trading volume of 675 million yuan [1] - Prior to this decline, the stock had seen consecutive limit-up days for three trading sessions [1]

编辑 ｜钉钉 | 代码 | 名称 | 涨幅％v | 现价 | | --- | --- | --- | --- | | 688125 | 安达智能 | +20.00% | 97.43 | | 920932 | 科达自控 | +15.69% | 24.48 | | 688627 | 精智达 | +15.55% | 240.41 | | 300548 | 长芯博创 | +12.50% | 156.71 | | 688676 | 金盘科技 | +11.79% | 66.76 | | 301377 | 鼎泰高科 | +11.25% | 125.94 | | 002523 | 天桥起重 | +10.13% | 4.35 | | 002414 | 高德红外 | +10.04% | 14.47 | | 600487 | 亨通光电 | +10.02% | 26.14 | | 605358 | 立昂微 | +10.01% | 36.70 | | 603380 | 易德龙 | +10.01% | 39.13 | | 6039509 | 百利科技 | +10.00% | 6.27 | | 601869 | 长飞光纤 | +10.00 ...

Core Viewpoint - The official closure of Hainan Free Trade Port on December 18 marks a significant step in China's commitment to high-level openness and the construction of an open world economy, leading to a surge in market enthusiasm and stock performance in the related sector [1][2]. Group 1: Market Performance - As of December 22, the "Hainan Free Trade Port" sector saw a strong performance, with a notable increase of 9.47%, and 23 stocks within the sector hitting the daily limit [1]. - Following the closure announcement, the sector experienced a decline of 4.15% on December 18, but rebounded with a 4.44% increase on December 19 [1]. Group 2: Policy Impact - The "zero tariff" policy is a key feature of the Hainan Free Trade Port's regulatory framework, aimed at reducing import costs for businesses through phased tariff reductions [1]. - The scope of "zero tariff" goods has expanded significantly from 1,900 tax items to 6,600, increasing the proportion from 21% to 74% [1]. Group 3: Economic Benefits - Since 2020, Hainan Airlines has imported aviation materials worth approximately 350 million yuan, saving over 50 million yuan in tariffs and VAT due to the zero tariff policy [2]. - The total import value of raw materials, vehicles, and self-use production equipment under the zero tariff list reached 29.22 billion yuan, with tax reductions amounting to 5.474 billion yuan [2]. - As of November this year, the processing value exempt from tariffs in Hainan Free Trade Port has reached 11.42 billion yuan, with a total tax reduction of 878 million yuan [2]. Group 4: Strategic Positioning - Hainan Island, as China's second-largest island, is strategically positioned with abundant resources and serves as a vital gateway for trade between East Asia, Southeast Asia, and South Asia, enhancing its role in the global economic cycle [2].

Group 1 - The theme of "stimulation" has returned as a key concept for the annual planning of "First Financial" magazine, marking its second occurrence in ten years, with the last being in 2015 [1] - The stock market experienced significant volatility in 2015, with the Shanghai Composite Index rising from 3,234 points to 5,178 points within six months, followed by a sharp decline to 2,850 points in just two and a half months [1] - The current level of "stimulation" is perceived to be at least ten times higher than it was a decade ago, indicating a substantial shift in the economic landscape [2] Group 2 - In 2025, various stimulating events are expected to unfold in the business world, including record-breaking box office performances and intense competition in the delivery service sector [3] - The year 2025 is anticipated to be a watershed moment for the Chinese automotive industry, with comprehensive updates expected in product quality, marketing strategies, and supply chain operations for new energy vehicles [12] - The impact of AI on the labor market and capital is a central theme for 2025, with discussions on whether it serves as a helper or a threat to workers [3][11] Group 3 - The concept of "stimulation" in Chinese carries dual meanings, representing both positive and negative experiences that exceed previous thresholds [4][5] - The year 2025 is characterized by significant changes in global operational rules, surpassing the experiential limits of a generation [5] - The magazine's annual issue includes insights from experts on investment trends and consumer behavior, highlighting the evolving definitions of a "good life" among Chinese consumers [21][15]

Group 1 - The core point of the article highlights the shift in market leadership in Sichuan Province from Wuliangye to the optical module leader Xinyi Sheng, reflecting the broader impact of the AI wave on the electronic and communication industries [2] - The total market capitalization of A-shares increased significantly, with major cities like Shanghai, Beijing, and Shenzhen leading the growth, rising from 48.6 trillion yuan at the beginning of the year to 56.5 trillion yuan by year-end, an increase of nearly 8 trillion yuan [2] - The Yangtze River Delta region's total market capitalization reached 31.51 trillion yuan, accounting for 26.2% of the total A-share market, with cities like Suzhou, Wuxi, and Hangzhou showing notable growth [2] Group 2 - As of December 19, 2025, the total market capitalization of A-shares reached 120.31 trillion yuan, reflecting a year-to-date growth of 22.2% [3] - The top five provinces in terms of market capitalization are Beijing, Guangdong, Shanghai, Zhejiang, and Jiangsu, with a more solidified structure compared to previous years [3][4] - Beijing's market capitalization reached 32.88 trillion yuan, significantly supported by state-owned enterprises and tech companies, while Shenzhen's market capitalization grew to 12.23 trillion yuan, driven by major players in technology and finance [5][13] Group 3 - Fujian Province saw a remarkable market capitalization growth of 51.73%, rising from 3.71 trillion yuan to 5.62 trillion yuan, primarily due to the strong performance of companies like CATL and Zijin Mining [8] - The market capitalization of Jiangsu Province exceeded 30%, reaching 8.65 trillion yuan, with significant contributions from cities like Suzhou and Wuxi in sectors such as semiconductors and digital economy [6][7] - The Yangtze River Delta region's electronic and communication sector saw a market capitalization increase of 1.9 trillion yuan, accounting for nearly 30% of the total growth, with companies like SMIC and Sunwoda contributing significantly [10] Group 4 - The city rankings in terms of market capitalization show stability at the top, with cities like Beijing, Shenzhen, and Shanghai leading, while cities like Hangzhou and Suzhou are emerging as strong contenders [11][14] - Notable growth in the market capitalization of cities such as Hefei, Wuhan, and Shaoxing, which have entered the trillion-yuan market capitalization club, indicates a shift in economic dynamics [14] - Chengdu's market capitalization surpassed 2 trillion yuan, driven by the growth of Xinyi Sheng, which increased from 819 million yuan to 4.316 billion yuan, marking a significant milestone for the city [14]

Market Overview - The Shanghai Composite Index rose by 0.64%, the Shenzhen Component Index increased by 1.36%, and the ChiNext Index gained 1.8% during the morning session [2]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.19 trillion yuan, an increase of 97.7 billion yuan compared to the previous trading day, with nearly 3,500 stocks rising [3]. Sector Performance - The Hainan Free Trade Zone concept stocks surged, with a rise of 9.59%, and 22 stocks hitting the daily limit [3]. - The semiconductor industry chain saw significant gains, with the CPO (Co-Packaged Optics) and intelligent driving sectors also performing strongly [10]. - Precious metals experienced a strong upward trend, with spot gold prices exceeding $4,380 per ounce, marking a historical high [6][14]. Notable Stocks - China Duty Free Group's A-shares and H-shares both rose over 10%, attributed to a sales figure of 118 million yuan on the first day of duty-free sales in Sanya [4]. - Longan Automobile opened more than 3% higher following the issuance of the first L3-level autonomous driving license in Chongqing [10]. - Zhangzhou Development hit the daily limit, rising by 10.05%, following news of the Fujian Zhangzhou "14th Five-Year Plan" aimed at enhancing cross-strait integration [4]. Trading Highlights - The trading volume for palladium futures reached the daily limit, while silver futures also saw significant gains, with the main contract rising over 5% [6]. - The ChiNext Index saw a rise of over 2%, with sectors such as CPO, optical communication modules, and virtual robots leading the gains [8].

2025.12.22 作者 |第一财经 杜川 LPR继续"按兵不动"，连续7个月保持不变。 中国人民银行授权全国银行间同业拆借中心公布，2025年12月22日贷款市场报价利率（LPR）为：1年 期LPR为3.0%，5年期以上LPR为3.5%。两个期限LPR均与上月持平。 背后的根本原因是受年初以来出口持续超预期等支撑，今年宏观经济顶住外部环境剧烈波动压力，增长 韧性超出普遍预期。"下半年以来经济增长动能有所弱化，但实现全年'5.0%左右'的经济增长目标已没 有悬念。年底前逆周期调节加力的迫切性不高，货币政策保持较强定力。"王青称。 从近期政策表述看，12月中央经济工作会议提及"灵活高效运用降准降息等多种政策工具"，表述重点更 多落在政策的效率和主动性上；对宏观政策表述为"加大逆周期和跨周期调节力度"，后续政策改革更加 基于长远经济周期变化。 本文字数：932，阅读时长大约1.5分钟 政策利率保持稳定、银行业净息差承压这两个直接原因导致12月两个期限品种的LPR报价保持不变。 东方金诚首席宏观分析师王青认为，央行7天期逆回购利率保持稳定，意味着12月LPR报价的定价基础 没有发生变化，已在很大程度上预示当月LP ...

12月22日，"阿里千问"发布"2025十大AI提示词"榜单。2025年，人们使用千问App的十大高频场景分别 是：股票、八字、情感咨询、朋友圈文案、景点推荐、双色球号码、失眠、解答这道题、离婚财产分 割、人生的意义。 D 己土 甲木 戊主 Z木 Jy l更 的火 . • • fib @ 0 ® 3) E U A 现在适合表白吗? 情感咨询 6 4 ( •)) "这 電 制霸朋友圈" 616 朋友圈文案 rol (+) B 小长假 去哪里玩? 景点推荐 0 + (->) D 双色球号码 □ € (0) 7 15分钟快速入眠 、e 失 眠 ④ 0 () o C 这题昨做 " 解答这道题。 (+) (→)) 9 . 离婚财产分割◎Θ (·))) (d) 编辑 ｜钉钉 ...