在过去两年中，全球资本对人工智能（AI）的追逐近乎狂热。然而，随着巨额资本开支与短期商业回报之间的剪刀差扩大，关于"AI泡沫"的论调自去年底以 来甚嚣尘上。 "算力基建"的经济账：从卖车票到区域协同 针对市场对"算力过剩"或"泡沫"的担忧，鄢贵海给出了不同的观察视角。他指出，对于任何一次技术革命，在认知早期出现分歧是常态。目前的算力投入虽 然看似巨大，但相对于未来数据挖掘和交互方式的彻底变革，仍然是不足的。 鄢贵海用中国高铁的发展路径做了一个形象的比喻。如果仅算"卖车票"的账，许多高铁线路在初期看起来是入不敷出的。但高铁作为交通基础设施，其真正 的价值在于带动沿线城市发展、缩短产业与人才的物理和逻辑距离。 他认为，算力作为新型基础设施，其价值逻辑与高铁类似，不能仅凭短期的损益表来衡量，而应关注其产生的巨大外溢效应。 "算力也是类似的。AI作为基础设施，其外溢价值是确定性的。"鄢贵海对凤凰网财经表示。他回顾互联网时代，初期的泡沫最终衍生出了改变产业结构的商 业模式创新。目前的AI行业同样如此，在尚未完全看懂全貌之前定义"泡沫"为时尚早。 国产芯片生存法则：敢于"亮剑"的单点突破 近日，中科驭数创始人、CEO鄢贵 ...

Group 1: Market Overview - A-shares opened lower with all three major indices declining: Shanghai Composite Index down 0.63%, Shenzhen Component Index down 0.6%, and ChiNext Index down 0.09% [1] Group 2: Robotics Industry Insights - CITIC Securities indicates that humanoid robots are currently in the technology validation phase, but the commercialization timeline is expected to be shorter compared to that of electric vehicles [2] - The report emphasizes focusing on high-value, clear-structure, and high-certainty segments within the robotics industry, as these areas exhibit the greatest earnings elasticity [2] - Key segments identified include platform companies (integrating software and hardware), high-performance SOC chips, dexterous hands, actuators, and precision sensors, which are considered high-value and high-barrier areas in the humanoid robotics sector [2] Group 3: Carbon Market Developments - Huatai Securities forecasts a revaluation of carbon prices and green certificate markets driven by policy changes, transitioning from "soft constraints" to "hard constraints" by 2027 [3] - The report anticipates that carbon prices could rise to the range of 150-200 yuan per ton before 2030, supported by tightening quota distributions and increasing compliance costs [3] - A mechanism for exchanging green certificates for carbon quotas is expected to be established, enhancing the economic viability of green electricity [3] Group 4: Lithium Market Projections - Galaxy Securities predicts that lithium prices will experience a mid-year bifurcation in 2025, with the first half continuing to reflect an oversupply and prices dropping near cash costs [4] - The second half is expected to see a market turnaround driven by dual storage demand and regulatory impacts on mining licenses, leading to a bullish trend [4] - By the end of the year, lithium carbonate prices are projected to have more than doubled from their lows, with ongoing upward momentum despite regulatory challenges [4] - Lithium is identified as a critical mineral for energy transition, with a long-term positive outlook despite short-term supply surplus expectations [4]

上一交易日公布财报后，微软、特斯拉、Meta、IBM股价分别跌8.7%、涨1.5%、涨10.6%、涨6.8%。 1月29日，美股三大股指开盘涨跌不一，道琼斯指数涨0.08%，标普500指数涨0.18%，纳斯达克综合指 数跌0.12%。 ...

Core Viewpoint - 甘之草科技股份有限公司 has submitted its listing application to the Hong Kong Stock Exchange, positioning itself as a leading player in the online traditional Chinese medicine market with significant market shares in both the overall market and online diagnosis sectors [1][2]. Financial Performance - The company reported a revenue increase from 603 million RMB to 690 million RMB from 2023 to 2024, achieving profits of 1.88 million RMB and 10.16 million RMB respectively, alongside healthy cash inflows from operations [2]. - However, in 2025, despite a revenue of 554 million RMB and a gross profit of 150 million RMB in the first three quarters, the company recorded a loss of 1.24 million RMB, indicating a reversal in profitability [2]. - The cash flow from operating activities also turned negative, with a net outflow of 640,000 RMB, suggesting challenges in the company's core business operations [2]. Valuation and Capitalization - 甘之草's valuation skyrocketed from 6.775 million RMB to 1.639 billion RMB, marking an increase of over 240 times within three years, driven by aggressive institutional investments prior to its IPO [2][8]. - The first significant institutional investment occurred in late 2024, leading to a valuation surge of over 118 times, with the company’s pre-investment valuation reaching 800 million RMB [3][8]. - By early 2026, the company achieved a historic valuation of 1.639 billion RMB, with multiple investment firms participating in the final round of funding [6][8]. Shareholder Structure - As of the latest disclosure, the founder, Xu Zhiliang, holds a 34.7% stake in the company, with a diversified shareholder structure emerging from previous capital injections [2][7]. - The shareholder composition has evolved, with significant stakes held by various investors, including杭州巴戟天 and杭州星陀, reflecting a shift towards a more diversified ownership model [4][5][7]. Investment Dynamics - The capital trajectory of 甘之草 illustrates a clear pattern of institutional investment driven by expectations of capital appreciation, with a series of strategic investments leading to substantial valuation increases [8]. - The company’s capital operations are characterized by a focus on maximizing valuation ahead of its IPO, with a notable emphasis on the timing and structure of investments [6][8].

用户小宁在投诉中表示，深圳杰我睿欺骗消费者，在没有兑付能力的情况下回收黄金，并且直接消失， 不退回实物金或约价的押金和银条。 你是不是也曾遭遇过各种投资理财、购买保险的陷阱，却投诉无门？或手握第一线的真实投资故事，却 无人关注？扫码留言，让你的声音"被看见、被回应"！ 凤凰投诉讯 1月29日，有网友投诉杰我睿回收黄金后直接消失。 ...

用户在投诉中表示，上海佩辉金融管理有限公司的融资平台"微拍贷"于2018年爆雷，至今还有一大批浙 江湖州市安吉县的受害者在维权路上奔波。自己在向各方咨询求助无果后，不得不放弃了追回的念头并 因此患上抑郁型焦虑症，生活受到严重影响。 你是不是也曾遭遇过各种投资理财、购买保险的陷阱，却投诉无门？或手握第一线的真实投资故事，却 无人关注？扫码留言，让你的声音"被看见、被回应"！ 凤凰投诉讯 1月29日，有网友投诉自"微拍贷"2018年爆雷后，多名受害者奔波多年仍未能维权成功。 ...

Core Viewpoint - Bailing Co., Ltd. (600827) anticipates a net profit of 526 million to 790 million yuan for 2025, with a non-recurring net profit forecast of 85 million to 127.5 million yuan, driven by trends in consumer behavior and the transformation of commercial spaces into urban "third spaces" that integrate social, cultural, and entertainment experiences [1] Group 1: Business Strategy and Innovations - The company is actively transforming its business model to create a "new urban lifestyle gathering place" that combines consumption, leisure, and social interaction, exemplified by the launch of ZX LAB, a new theme experience area [2] - Bailing has partnered with BilibiliWorld to implement a large-scale ACGN exhibition model in physical retail spaces, extending a three-day online event into a month-long offline celebration, significantly increasing foot traffic and sales [2] - The company launched "Bailing Blossoms," a lifestyle brand targeting the silver economy, integrating various business resources to provide a one-stop service for the elderly, enhancing the quality of life for this demographic [3] Group 2: Cultural and Marketing Initiatives - Bailing is enhancing consumer experiences through high-quality cultural and artistic events, such as the "HERITAGE NEXT Butterfly Flower" exhibition and collaborations with the Shanghai International Flower Show, which have led to significant increases in sales and foot traffic [4] - The company has successfully executed marketing campaigns during major shopping festivals, achieving double growth in sales and customer traffic across its department stores and shopping centers [4] - Recent data indicates a shift in consumer behavior towards valuing emotional and quality experiences, positioning Bailing to continue innovating and transforming its business model to meet these evolving demands [5]

Core Viewpoint - The company has engaged Deloitte Consulting as an independent internal control advisor to conduct a comprehensive review of its internal control system, reflecting its commitment to governance optimization and prudent management practices [1]. Group 1: Governance Enhancements - The company has previously taken steps to optimize its governance structure, including restructuring the board, establishing specialized committees, and appointing a chief risk officer and co-CEOs with substantial backgrounds [1]. - The engagement of Deloitte for an independent review is seen as a proactive "health check" and systematic reinforcement of the existing governance framework, aligning with international best practices [1]. Group 2: Risk Management and Compliance - The modernization of governance is deemed essential for the sustainable development of fintech companies, with independent third-party reviews aiding in the establishment of a robust "system + technology" risk management loop [1]. - This initiative not only aims to meet current resumption guidelines but also provides institutional safeguards for long-term compliance, risk prevention, and sustainable growth, ultimately protecting investor interests [1]. Group 3: Long-term Vision - Market observers note that transforming the process of addressing historical issues into an opportunity for enhancing overall governance capabilities demonstrates the company's long-term thinking [1]. - As the internal control review progresses, a clearer picture of a more regulated, transparent, and stable company is expected to emerge, laying a crucial foundation for rebuilding its image in the capital markets and gaining long-term trust [1].

眼下，全国各地正在进入"两会时间"。观察两会，分析释放的政策信号，了解未来的发展走向，一定要 读懂读透政府工作报告。 1月27日，山东省第十四届人民代表大会第四次会议在济南开幕，省长周乃翔代表省人民政府作了政府 工作报告。 这份报告的分量很重——山东GDP突破10万亿大关，达到10.3万亿元，成为全国第三个、北方第一个过 10万亿元省份。 这份报告的谋划清晰——"十五五"实施"十大工程"，实现"八个显著提升"，2026年地区生产总值目标为 增长5%以上。 10万亿大省的政府工作报告，字里行间多次"点名"强省会和济南，这释放了什么信号？济南在山东未来 五年蓝图里如何扛起经济大市的担当？ 10万亿里的"济南身影" 创造历史的10.3万亿经济总量，有赖于山东16市的共同努力。这份成绩单里，济南作为经济大市作出了 怎样的贡献？ 从经济总量看，2025年济南全市地区生产总值预计超过1.4万亿元，经济总量稳居全国城市20强。虽然 精确的数字有待发布，但1.4万亿的体量足以看出经济大市的"扛鼎"作用。 从项目支撑看，省政府工作报告提出，山东2025年省市县重点项目完成投资2.8万亿元，3920个新投产 项目增加产值5100 ...

(新黄河) 通过任职信息与主要人员查询，可以深入了解项目公司或运营团队核心负责人的行业经验、过往业绩及 其在环保能源领域的职业网络，为评估其运营能力、判断项目提升潜力提供重要参考。 天眼查专业版数据显示，截至目前我国现存在业、存续状态的垃圾处理相关企业超138.3万家。其中， 2025年新增注册相关企业超17.2万家，从企业注册数量趋势来看，垃圾处理相关企业的注册数量在2023 年达到顶峰，为17.9万余家。 从区域分布来看，山东省、河北省、江苏省垃圾处理相关企业数量位居前列，分别为13.2万余家、11.6 万余家和9.8万余家。排在其后的是广东省和河南省。 近日，深圳罗湖玉龙填埋场正进行全国体量最大、全量开挖的垃圾搬迁治理工程。这座封场20年的垃圾 山，曾是"垃圾围城"的缩影，如今因垃圾焚烧技术发展，有了根治"顽疾"的能力。 在承接此类重大环保工程或选择技术合作伙伴时，投资方与政府部门对企业的合规性与历史表现尤为审 慎。通过天眼查等平台核实企业的工商信息是基础步骤，而利用天眼风险功能深度排查企业是否存在环 保处罚、安全生产事故等行政处罚或重大法律诉讼记录，则成为评估其能否胜任重大项目、防范工程与 监管风险的 ...