Group 1 - The personal pension system is entering a critical phase as the deadline for annual contributions approaches in December 2025, marking the last opportunity to enjoy tax benefits for the year [1] - The personal pension system, as the "third pillar" of the pension insurance framework, offers dual benefits of tax savings and asset appreciation, enhancing retirement security [1] - JD Finance has launched a monthly activity for pension contributions, lowering participation barriers and increasing the attractiveness of pension savings [1] Group 2 - Since the pilot launch on November 25, 2022, the personal pension system has been in place for three years, with an increasing variety of investment options available [2] - JD Finance has introduced over 180 pension fund products, including target date, target risk, and index allocation types, along with stable products like national pension whole life insurance [2] - The current "slow bull" trend in the equity market presents a historic opportunity for the personal pension business, enhancing investor confidence and encouraging long-term participation [2]

中访网数据 北京 光线传媒 股份有限公司于近期公告了修订后的《董事会审计委员会工作细则》，旨在 进一步规范公司治理结构，强化董事会对财务报告及内部控制的监督职能。根据新细则，审计委员会由 三名不在公司担任高级管理人员的董事组成，其中独立董事须过半数，且至少包含一名会计专业人士。 该委员会被赋予关键职权，包括审核公司财务信息及披露、监督评估内外部审计工作、指导内部审计机 构运作，并就聘用或解聘会计师事务所、聘任或解聘财务负责人等重大事项向董事会提出审议意见。细 则明确，审计委员会需至少每半年检查一次公司募集资金使用、关联交易、对外投资等重大事项的实施 情况以及大额资金往来情况，并就内部控制有效性向董事会出具评估报告。此次修订细化了委员会的议 事规则，要求每季度至少召开一次会议，决议需经全体委员过半数通过。此举标志着 光线传媒 在完善 上市公司治理、提升财务信息透明度与质量、加强风险内控方面迈出重要一步，有助于保护投资者利益 并促进公司长期稳健发展。 ...

家政行业正悄然经历一场结构性重构。 从过去的"撮合生意"，转向依托系统、数据和流程的现代服务业；从依赖个体经验，转向依靠数字化模 型的创业赛道。 政策的推动、技术的渗透和职业人群的加速转场，使这一传统行业正在显露出新的产业想象力，它不再 只是"就业选择"，而是一个正在被数字化重塑的万亿级新市场。 各行业精英"转场"家政领域创业 43岁的宫飞飞原本在知名药企担任高管。2017 年，她从原有职业轨道中抽身，进入家政领域。"能培训 人，就能带出一支队伍。"她说。几年间，她的团队已培养了数千名家政服务者。一些人通过技能提升 改善了收入，宫飞飞也目睹了家政从"传统经验"向"职业标准"转型的变化。 1988 年出生的王敬文，曾是啤酒厂销售主管。后来辞职到青岛开民宿，却因为旅游市场冷却陷入困 境。"酒厂回不去，民宿也不行。"他笑着回忆。孩子刚会走路，他重新上路，进入家政行业。2023年， 他加盟的58到家青岛门店，从 7 人团队起步，两年扩至 30人。"以前靠人脉，现在靠系统。"他说。 39 岁的陈文超，则是另一类家政创业者的缩影。从 211 名校文学系毕业、在媒体行业摸爬滚打，到投 身家政，她用一年半跨越了职业边界。加入 ...

"绿水青山就是金山银山"，12月4日，平安产险龙岩中心支公司长汀营销服务部以"减废护蓝，'筷'护地 球"为主题，向首批10家西门社区餐馆、连锁快餐店免费捐赠近500双不锈钢筷子，旨在替代一次性餐具 与易损耗的竹木筷，推动餐饮低碳变革。 活动现场，平安志愿者除了赠送不锈钢筷子，还向餐馆经营者发放《餐饮环保指南》，并详细讲解不锈 钢筷子的高温消毒方法与保养技巧，还算了一笔"经济账"："以一家餐馆每月采购一次性筷子花费50元 计算，使用不锈钢筷子后，每年可节省600元采购成本，既环保又省钱。" 针对部分店主担心"顾客是否接受环保筷"的问题，平安志愿者还分享了实操建议——在餐桌摆放"使用 环保筷，共护环境"提示卡，向顾客传递环保理念。不少店主当场表示愿意尝试："既环保又不增加太多 成本，还能给店铺树个好形象，肯定支持！" 除赠送物资外，平安志愿者还协助3家餐饮店梳理了"减少一次性用品使用"的简单方案，如优先提供可 重复使用的陶瓷碗、鼓励顾客自带餐盒等。"之前总担心顾客不习惯不锈钢筷子，没想到试用后的反馈 效果良好，还能省不少开支。"社区餐馆经营者涂女士表示，后续会主动向顾客宣传环保理念，鼓励大 家拒绝一次性餐具。 此 ...

精准联动：多方协作织密防线 在南平延平区，平安产险南平中心支公司志愿者与交警并肩而立，通过典型事故案例警示展板剖析酒 驾、超载等违法行为危害，同步提供代步工具组合保险咨询，以"保险+服务"强化风险兜底意识。在三 明万达广场，平安产险三明中心支公司通过安全视频展播、现场实操演练等形式，将"反洗钱""反诈"知 识融入交通安全宣教，推动金融安全与出行安全双提升。在华安、诏安两地，平安产险漳州中心支公司 志愿者联动交警通过"幸运转盘"等互动活动，结合交通安全手册的发布，强化"骑行戴盔""路口礼让"等 细节宣导。在宁德与莆田两地，平安产险志愿者进一步化身"金融卫士"，通过扫黑除恶、防范非法集资 等宣传资料，为群众拆解骗局套路，将金融安全网延伸至交通治理领域，以多维行动践行企业社会责 任。 2025年12月2日，第十四个"全国交通安全日"如约而至，平安产险福建分公司以"文明交通，礼行天 下"为主题，联动全省八地市分支机构，在开展交通安全宣导的同时，深度融合"平安红绿灯"道路安全 风险减量公益行动，通过"安全宣教+设施升级"双轨并行模式，为八闽大地编织立体化安全防护网。 创新融合：寓教于乐触达人心 在福州中洲岛，一抹"志愿 ...

Core Viewpoint - The acquisition strategy of technology-based listed companies, such as HeXin Instruments, raises concerns when the financial structure shows high reliance on intangible judgments and significant goodwill, which may obscure the true motives and potential risks of the transaction [1] Financial Structure and Goodwill - HeXin Instruments plans to acquire a target company, resulting in an additional goodwill of 325.65 million yuan, which accounts for 24.76% of its total assets and 53.72% of its net assets as of June 2025, significantly exceeding the generally accepted safety threshold for A-share listed companies [2] - The inquiry letter highlights the need to confirm whether identifiable intangible assets have been adequately recognized, pointing out the core vulnerability of high goodwill acquisitions where many core resources are hidden within goodwill, potentially leading to impairment risks [2][3] Valuation Methodology - The target company's intangible assets include patents, software copyrights, and trademarks, evaluated using the income approach based on historical earnings and industry trends, but the identification process for key competitive intangible assets was not detailed [3] - The use of the income approach for valuation, which relies heavily on future cash flow projections, raises concerns about the subjectivity of key assumptions such as revenue growth rates and discount rates [4] Performance Projections and Risks - The projected net profits for the target company from 2025 to 2027 are 43.83 million yuan, 48.64 million yuan, and 63.92 million yuan, while the performance commitment is lower, indicating a significant discrepancy [5] - The discount rate used in the valuation is 11.29%, with a specific risk premium of only 2.00%, neglecting the high customer concentration risk, which artificially lowers the discount rate and inflates the valuation [5] Comparability and Market Position - HeXin Instruments selected comparable companies such as Geosun Technology and Tianrui Instruments, claiming the target company deserves a higher valuation multiple due to its technological advantages, with a transaction price-to-sales ratio (PS) of approximately 8-10 times and a price-to-earnings ratio (PE) of 25-30 times, both significantly above industry averages [6] - The high profitability may not guarantee sustainable high valuations due to the project-based nature of the scientific instrument industry, which is characterized by large order amounts and long delivery cycles, leading to potential volatility in performance [6] Strategic Intent and Market Environment - The acquisition aims to strengthen HeXin Instruments' position in the high-end mass spectrometry market, which is strategically sound; however, the justification for the strategy cannot replace financial prudence [8] - The capital market is shifting towards a focus on quality, with regulatory scrutiny on high-premium acquisitions, making it challenging for companies to justify inflated valuations based on perceived technological scarcity or industry uniqueness [8]

Group 1 - The core viewpoint of the article highlights the significant increase in indoor cycling demand due to winter weather, with JD's sales data showing a more than 280% year-on-year growth in cycling trainer sales since November, making it a "phenomenal product" for home fitness during winter [1] - JD has partnered with the well-known cycling brand Mijian to launch a promotional campaign offering cash back for customers who purchase cycling trainers and complete a specific cycling challenge [1][3] - The promotional activity runs from December 10, 2023, to February 28, 2026, where customers can receive a cash subsidy of 300 yuan by completing a 28-day cycling challenge of 20 kilometers per day [1][4] Group 2 - The "smart cycling trainer" is described as a fitness device that allows users to ride indoors by fixing their bicycles onto a stable support structure, compatible with most bike models and requiring minimal space [3] - The smart cycling trainers offer adjustable resistance and can connect via Bluetooth to cycling apps, simulating real road conditions and providing an immersive training experience [3] - The two featured models, Mijian T600 Eco and T500, are highlighted for their performance and user-friendly features, with the T600 Eco supporting up to 2800W power output and 27% slope simulation, while the T500 offers nine types of road feel without needing an external power source [4] Group 3 - JD has a long-standing commitment to the cycling sector, continuously enhancing product variety and service experience, and plans to expand the cash back campaign with more brands to promote home fitness and technological cycling experiences [6] - The campaign encourages consumers to engage in indoor cycling, emphasizing that exercise should continue even during winter [6]

Core Viewpoint - Anhui Linping Circular Development Co., Ltd. is set to undergo a listing committee review on December 11, marking a significant step towards entering the capital market with an IPO aimed at raising 1.2 billion yuan for two major projects focused on green and intelligent manufacturing materials [1] Group 1: Company Overview - The company specializes in the research, production, and sales of corrugated paper and boxboard products, recognized as a high-tech enterprise with independent research and innovation capabilities [1] - Linping Development has evolved into a resource utilization enterprise integrating waste paper recycling, cogeneration, and green papermaking [1] Group 2: Business Model and Operations - The company has established a stable R&D, procurement, production, and sales model, ensuring continuous profitability [2] - In R&D, the focus is on low-weight corrugated paper and boxboard product design, energy-saving processes, and advanced clean production techniques, leading to multiple core technologies and patents [2] - The procurement system is robust, with a complete supply chain management process, ensuring a steady supply of raw materials and price transparency [2] - The production model is based on sales-driven production, allowing for flexible inventory management and quick delivery [2] - The company has established stable partnerships with well-known domestic enterprises, aligning its business model with industry trends [2] Group 3: Financial Performance - The company reported revenues of 2.878 billion yuan, 2.799 billion yuan, 2.485 billion yuan, and 1.224 billion yuan for the respective years, with net profits of 154.47 million yuan, 211.59 million yuan, 152.86 million yuan, and 91.42 million yuan [3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 127.60 million yuan, 204.60 million yuan, 166.33 million yuan, and 91.29 million yuan for the same periods [3] - The company has a strong focus on environmental protection, having built advanced wastewater treatment facilities and achieving recognition as a "Clean Production Demonstration Enterprise" and "Green Factory" [3] Group 4: Market Position and Future Outlook - Linping Development ranks among the top 30 paper manufacturers in China, producing over 1 million tons annually, placing it in the second tier of the industry [2] - The market is closely watching the outcome of the upcoming listing review, as the company aims to leverage capital markets for further green development [3]

此次开源意味着硬件厂商、手机厂商和开发者均可基于AutoGLM，在自己的设备或系统中复现一个 能"看懂"屏幕、并模拟真人进行点击、输入、滑动的AI助手。目前，AutoGLM已支持微信、淘宝、抖 音、美团等超过50个高频中文应用的核心场景，其自动化操作能力与此前引发热议的"豆包手机"演示相 似。 智谱深夜开源其核心AI Agent模型AutoGLM。该模型被业界视为全球首个具备"Phone Use"(手机操作)能 力的AI Agent，能够稳定完成外卖点单、机票预订等长达数十步的复杂操作流程。 AutoGLM的开源将大幅降低AI手机的技术门槛，推动AI手机生态从封闭走向开放共创。同时，项目支 持本地与云端部署，确保数据与隐私控制权始终掌握在使用者手中。 ...

此外，专家呼吁加快标准细化与生态协同，建议围绕智能风控、合规审查、数据治理等场景，制定更具 操作性的实践指南、检查清单与评测数据集。同时，建设可共享的最佳实践案例库与开源工具生态，降 低机构落地成本，促进行业协同发展。多位专家表示，将持续推动该团体标准的落地实施，形成分层、 可量化的评测认证机制，并探索与行业准入、采购标准挂钩的激励模式，助力金融AI在可信、稳健的 轨道上实现规模化应用。 2025中关村论坛系列活动由中关村金融科技产业发展联盟与中关村互联网金融研究院联合主办，聚焦人 工智能、大模型、可信框架等前沿技术在金融场景的创新落地。 12月4日，"2025中关村论坛系列活动——数字金融与科技金融大会"在北京举行。会上，国内26家机构 联合发布国内首个金融领域大模型团体标准——《大模型金融领域可信应用参考框架》。该标准首次以 系统化、工程化方式提出了金融领域大模型可信治理的参考路径，为行业解决了落地过程中大模型金融 应用"如何建、如何管、如何评"的关键难题，推动AI从技术可行走向规模化可信，也标志着大模型金融 应用进入标准化治理的新阶段。 在同期举行的研讨会上，多位专家指出，大模型的"可信"并非一成不变的 ...