Core Viewpoint - Tencent Music (01698.HK) is scheduled to release its Q4 and full-year earnings announcement for 2025 on March 17, 2026, after the Hong Kong market trading hours and before the opening of the U.S. market [1] Group 1 - The earnings announcement will provide insights into the company's financial performance for the fourth quarter and the entire year of 2025 [1] - The timing of the announcement is strategically set to align with market hours in both Hong Kong and the U.S. [1] - This upcoming report is significant for investors and analysts monitoring Tencent Music's growth and market position [1]

中芯国际发布2025年第四季度及全年业绩公告。2025年第四季度，公司实现销售收入24.89亿美元，环 比增长4.5%；毛利率为19.2%，产能利用率保持在95.7%。2025年全年，公司营业总收入达93.27亿美 元，同比增长16.2%；净利润12.23亿元，同比增长23.2%。 2025年全年，中芯国际实现销售收入93.27亿美元，同比增长16.2%；毛利率为21.0%，同比上升3.0个百 分点。 对于2026年一季度，公司预计销售收入环比持平，毛利率处于18%至20%区间。公司同时表示，2026年 自身发展将面临产业链回流机遇与存储大周期挑战并存的格局，全年销售收入增幅将高于可比同业平均 值，资本开支与2025年相比大致持平。 此前，中芯国际曾公告将于2月11日以网络及电话会议形式举行2025年第四季度业绩说明会。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：观察君 ...

合富中国：公司2026年1月合并营业收入为人民币5,302.10万元，较去年同期的合并 营业收入减少 10.24%。 本文源自：金融界AI电报 ...

Asset Overview - In January, global risk assets experienced increased volatility due to changes in Federal Reserve interest rate expectations and geopolitical conflicts, with US stocks showing a strong upward trend [1] - The domestic market saw a return of funds, with equity assets continuing the upward trend from the end of last year, although regulatory measures led to a slowdown in growth [1] - The Wind All A index rose by 5.83% for the month, with the CSI 500 and CSI 1000 indices increasing by 12.12% and 8.68% respectively [1] - 80% of the Shenwan first-level industries saw gains, with strong performances in non-ferrous metals (+22.59%) and oil and petrochemicals (+16.31%) [1] - The Hang Seng Index rose by 6.85% in January, with a net inflow of 61.7 billion HKD from southbound funds [1] Bond Market Review - The bond market saw a downward adjustment followed by recovery, with most yield rates declining [2] - The 10-year government bond yield fell by 3.6 basis points to 1.81% during January [2] Commodity Market Review - The commodity market was generally bullish in January, with precious metals leading the gains; London gold prices rose by 13.01% to $4,880 per ounce [3] - Brent crude oil prices increased by 14.64% to $69.83 per barrel, while copper prices also saw gains [3] Macroeconomic Performance - The macroeconomic data for December indicated resilience in production, supported by external demand, while internal demand remained weak [5] - Industrial enterprises' profit margins showed positive growth for several months, with a 5.2% year-on-year increase in industrial value added [5] - Exports continued to exceed expectations, with a 6.6% year-on-year increase in December, driven by strong performance in machinery and high-tech products [6] Policy Outlook - Local government meetings have emphasized a "steady progress" approach, with an average GDP growth target of 5.0% for 2026 [10] - The focus of macroeconomic policy has shifted towards enhancing the quality of internal growth rather than merely expanding scale [10] Asset Allocation Analysis - The current economic environment is characterized by "strong supply, weak demand, and price stabilization," indicating an early recovery phase [24] - The asset performance ranking is expected to be bonds, stocks > commodities in the current phase [24]

制度优势是信托业的根基，而将这一优势转化为面向未来的深度服务能力，是2026年展业的核心关键。 随着《信托公司管理办法》修订并正式施行，行业监管框架完成根本性重构，为信托公司回归"受人之 托、代人理财"的本源奠定了坚实基础。 当"存款搬家"成为居民财富管理常态，资管新规全面落地重构行业逻辑，一个共识在金融业形成：服务 能力已成为所有金融机构面向未来的核心竞争力。 从功能上看，信托公司能提供其他金融机构难以企及的确定性架构。如在企业破产重整服务中，信托计 划能实现资产隔离与有序处置；在预付金管理中，信托架构能保障资金安全。以上海为例，其成功落地 的不动产信托登记试点，就将服务拓展至家庭财富定向传承、银发老人特殊需要等普惠金融领域。 从服务范围看，信托的触角可延伸至传统金融之外的社会治理领域。家族信托、慈善信托、员工持股信 托等业务，对应的是家族财富传承、社会公益落地、企业激励机制构建等综合性需求。 当银行聚焦信贷、券商发力交易、基金深耕标准化投资时，信托公司的生态位在于：通过定制化、结构 化的受托服务，解决需要长期锁定、风险隔离和复杂安排的"非标需求"。 构建面向未来的服务能力：从功能实现到信任建立 银行、券商 ...

Group 1 - The report highlights the significant increase in consumer promotion policies in 2025, with various departments introducing favorable policies for offline commerce, from anti-competition measures to support for commercial and financial innovation [27] - The commercial real estate industry is experiencing a shift from an incremental market to a stock market, with a notable decline in new commercial openings, marking the lowest number of openings in a decade [20][21] - Chinese brands are gaining international recognition, with several brands achieving remarkable market performance, indicating a shift from supply chain advantages to brand strength [6][7] Group 2 - The report outlines the trend of light asset models becoming more prevalent in the commercial real estate sector, driven by professional management and cautious investment strategies [23] - The expansion of REITs policies is expected to enhance the liquidity of quality commercial assets, promoting high-quality development in the industry [15][16] - The report anticipates that AI technology will increasingly influence commercial innovation, affecting various aspects from cost control to management decision-making [25]

国银河证券 电+香港+车南亚 中国银河证券 深耕高水平对外开放 High-level Opening ﺎ 2025年以来,中国银河证券全面贯彻落实党的二十 大、党的二十届历次全会和中央金融工作会议、中央经济工 作会议精神,积极发挥海外布局优势,不断深化境内外一体 化发展,为企业提供全周期跨境综合金融服务,持续助力高 水平对外开放。 笔 亿新元 东南亚投行项目 交易规模 252 超 亿港元 香港投行项目 交易规模 护航中企赴港融资 175 国际金融中心地位 保荐赛力斯港股IPO 保荐汇舸环保港股IPO 助力中国中免跨境交易 时尚 消费 保荐赛力斯港股IPO 142.8 亿港元 赛力斯 i e ar 绿色航运 科技 人工智能 2025年参与港股IPO 高端制造 生物医药 十月十人女十八 5 新能源 甲酉牛止有丈从木取人观保IrU 2025年全球前十大IPO之一 2025年全球车企最大规模IPO 保荐汇舸环保港股IPO 3.18 亿港元 第一家在港股上市的船舶ESG解决方案提供商 助力中国中免跨境交易 担任独家财务顾问助力中国中免收购DFS大中华区业务 引入LVMH集团作为其H股股东,实现战略合作 2022年以来港 ...

短剧板块全线走强，欢瑞世纪、掌阅科技、博纳影业、捷成股份、横店影视领涨，板块相关企业整理： 欢瑞世纪（000892.SZ） 最新股价：8.97元 日涨幅：+10.06% 亮点：依托全资子公司天津慧链视界信息技术有限公司开展业务，积极布局互动剧领域。 掌阅科技（603533.SH） 最新股价：28.26元 捷成股份（300182.SZ） 最新股价：8.45元 日涨幅：+20.03% 亮点：已形成"出品+制片+分销发行+投放运营+营销推广"的全产业链模式；可实现影视长视频的短剧 本土化二创。 横店影视（603103.SS） 日涨幅：+10.00% 亮点：在短视频领域涵盖版权、自制、合制、付费投放、官方发行等多种业态，与多家制片方及技术方 合作。 博纳影业（001330.SZ） 最新股价：12.47元 日涨幅：+9.96% 亮点：短剧业务坚持"主旋律+精品化"路线，搭建"博纳短剧工作室"。 最新股价：40.41元 日涨幅：+9.99% 亮点：设立"大牌小紫"短剧品牌进行新投资，积极拓展短剧业务。 上海电影（601595.SS） 最新股价：35.78元 日涨幅：+9.99% 亮点：控股股东上海电影集团已启动真人互动剧 ...

IT之家注意到，蔚来汽车CEO李斌上个月发表新年首次内部讲话时也提到了类似观点。他表示接下来3 至5年，蔚来汽车能够实现年均40%至50%的稳定增长。 李斌还分享了对公司2025年的总结和对2026年的展望，并表彰过去一年的优秀项目。和往年相比，今年 的表彰增加了"特别贡献奖"，旨在表彰经营结果突出的团队和项目。全新ES8车型战队获得了全场唯一 的特等奖。乐道L90车型战队、Firefly萤火虫车型战队、自研芯片团队、供应链降本团队获得了一等 奖。基本经营单元（CBU）去年发挥了巨大作用，李斌要求接下来把CBU机制继续彻底跑通。"用车做 比方的话，去年我们只能算是做出了概念车，但我们还会持续推行，争取早一点到量产车，争取每年都 能够在经营水平上有进步。"李斌说道。 本文源自：IT之家 蔚来2月5日发布了其2025年四季度盈利预告，预计录得经调整经营利润7亿元至12亿元。 李斌表示，接下来要继续坚决在技术和产品研发方面进行投入，同时提高研发效率；持续布局充换电基 础设施和销售服务网络的建设；持续推行围绕用户价值创造的全员经营组织变革，争取在2026年实现 Non-GAAP口径下全年盈利。 昨日（9日）下午，蔚来 ...

Group 1 - The core point of the article is that BlackBerry Limited has obtained a patent for a method and system for automotive data ingestion, with the announcement number CN117238054B and an application date of May 2023 [1] Group 2 - The patent acquisition indicates BlackBerry's ongoing commitment to innovation in the automotive sector, particularly in data management [1] - This development may enhance BlackBerry's position in the automotive technology market, which is increasingly focused on data-driven solutions [1] - The patent could potentially lead to new partnerships or opportunities within the automotive industry, aligning with trends towards connected vehicles [1]