Group 1 - The core viewpoint of the article indicates that international silver prices are influenced by liquidity conditions and global monetary policy, with recent fluctuations observed due to market dynamics [1][2] - The latest data from CME's FedWatchTool shows an 85.1% probability that the Federal Reserve will maintain interest rates, reflecting market expectations based on the December FOMC meeting minutes [2] - Analysts suggest that the Fed may prioritize liquidity management tools over immediate interest rate adjustments, given the current labor market conditions and inflation concerns [2] Group 2 - The recent international silver price closed at $72.62 per ounce, marking a 1.91% increase, with a high of $74.54 and a low of $71.27 observed [1] - Short-term support for silver prices is identified at $71.54, with potential testing of the upward channel's lower boundary around $70.00 if prices decline [3] - A breakthrough above the current upward channel could lead silver prices towards the historical high of $85.87 reached on December 29 [2]

Core Viewpoint - Starting from January 1, 2026, Bank of China will pay interest on the balance of digital RMB real-name wallets at the same rate as its current deposit rates, with interest calculation rules consistent with those of current deposits [1] Group 1 - Bank of China announced the implementation of interest payments for digital RMB wallets [1] - The interest rate will be aligned with the bank's current deposit rates [1] - The interest calculation rules will follow the same guidelines as those for current deposits [1]

为总结过去一年的工作成果及明确2026年营销战役的核心目标，加加食品集团于2025年12月30日在总部 召开"变革.创新.增长"主题营销工作会议。 加加食品集团公司董事长兼总经理周建文、非独立董事谢子敬、非独立董事姚迪、集团副总经理兼粮油 事业部负责人杨衡山、以及东方资产领导、集团公司各部门负责人、销售公司全体将士齐聚一堂。 会议伊始，该集团销售公司副总经理周利平围绕品牌定位、目标规划、团队建设及销售方向四大核心展 开研讨与部署。她指出2026年营销工作将锚定核心品牌定位，从产品端、渠道端、价格端同步发力，精 准施策，聚焦终端动销，多方位激活市场活力，为加加食品腾飞注入强劲动力。 加加食品集团副总经理兼粮油事业部负责人杨衡山分享了2025年"三大战役"的经验成果，并明确了新一 轮战役战略方向。2026年粮油事业部将以"提升销量、重塑品牌、保障利润"为核心全力出击，推动盘中 餐在市场竞争中实现突围与增长。 随后，该集团调味品事业部湖南市场副经理刘俊讲述自身公开竞聘经历，他坦言，我真切感受到了"公 平、公正、公开"这六字的含金量。 面向2026年，董事长周建文明确提出"我们必须以主动求变的魄力、真抓实干的行动，从 ...

Core Insights - The company, Plant Doctor, is focusing on deepening its physical store presence rather than solely relying on online strategies, with a network of 4,269 stores as it moves towards an IPO on the Shenzhen Stock Exchange [1][3] Group 1: Store Experience and Functionality - Plant Doctor's stores are designed not just for sales but as experience centers, featuring product testing areas and skincare consultations, which redefine the role of physical retail [3][4] - The brand emphasizes the emotional value and unique product experiences provided by its stores, contrasting with traditional retail models that prioritize sales efficiency [3][4] Group 2: Research and Development Integration - The collaboration with the Kunming Institute of Botany has established a robust R&D framework, allowing scientific advancements to be directly communicated to consumers through in-store experiences [4] - Plant Doctor has secured 223 patents, which are actively utilized in stores to enhance consumer understanding and trust in the brand's high mountain plant skincare products [4] Group 3: Building Trust through Physical Presence - The company has over 30 million members, achieved through face-to-face interactions and personalized services in stores, fostering a deeper connection than online-only engagement [5][6] - The physical stores serve as trust anchors for the brand, allowing consumers to experience products and services firsthand, thus solidifying brand promises [6] Group 4: Global Expansion Strategy - Plant Doctor has expanded its store network internationally, with locations in Japan, Indonesia, and Thailand, maintaining a focus on physical retail as a cultural bridge [7] - The opening of a flagship store in Bangkok marks the brand's entry into its fourth overseas market, emphasizing the importance of physical presence in global strategy [7] Group 5: Operational Challenges and Management - Managing 4,269 stores presents challenges such as rent, labor, and inventory management, necessitating a sophisticated operational framework [8] - The company has developed a mature operational system that ensures service consistency and enhances management efficiency through digital tools [8] Group 6: Value of Physical Retail - The extensive store network is not only a sales infrastructure but also a vital asset for brand building, demonstrating the irreplaceable value of physical retail in the current market landscape [9] - Plant Doctor's approach highlights a slower, more sustainable path to brand success, contrasting with the rapid growth of online channels [9]

引言:阿芙精油创立于2003年,以"阿芙,就是精油"的品牌口号在业内树立了鲜明的形象。目前,品牌已在全 国一二线城市布局四百余家形象专柜,线上渠道亦全面覆盖各大主流平台。凭借在精油及精油美妆品类 的突出市场表现,以及创新的营销模式和粉丝经济运营,阿芙精油在行业内已建立起广泛的影响力。 2025年12月,尚普咨询集团向阿芙精油颁发市场地位声明书。阿芙精油荣获【阿芙精油中国精油护理SPA 领军品牌】、【阿芙精油中国眼油电动按摩仪一体化首创者】两项市场地位声明,标志着其在精油护肤 行业的标杆地位及市场对其的深度信赖。 甄选本源,守护天然品质 阿芙精油坚持从源头把控产品品质,围绕植物精油这一核心原料,与全球多地优质植物产区建立长期合作 关系,通过契约种植与直采模式,保障原料来源的稳定性与可追溯性。在原料甄选、萃取工艺及品质管理 等环节持续投入,使产品在天然属性与品质稳定性方面形成较为清晰的优势基础,为品牌长期发展提供支 撑。 阿芙精油作为国内精油护肤领域的知名品牌,通过以油养肤,以香养心的品牌定位策略升级,持续深耕以油 养肤精油细分赛道,通过长期的品牌建设与渠道布局,在消费者心中形成了较为稳定的品类认知。依托线 上主 ...

若12月30日出现单边市，按照《上海黄金交易所风险控制管理办法》相关规定调整的保证金和涨跌停板 水平高于上述标准时，则按较高的标准执行。 2026年1月5日（星期一）恢复交易后，自第一个未出现单边市的交易日收盘清算时起，Au（T+D）、 mAu（T+D）合约下一交易日起涨跌幅度限制恢复为15%；Ag（T+D）合约下一交易日起涨跌幅度限制 恢复为18%。 2025年12月29日，中国农业银行（601288）发布公告，对金市通（金交所代理）业务合约保证金比例及 合约涨跌停板进行调整： 自2025年12月30日（星期二）收盘清算时起，Au（T+D）、mAu（T+D）合约的保证金比例从43%调整 为44%，下一交易日起涨跌幅度限制从15%调整为16%；Ag（T+D）合约的保证金比例从48%调整为 49%，下一交易日起涨跌幅度限制从18%调整为19%。 ...

摘要今日周日(1月4日)休市。现货黄金收报3759.40美元/盎司，上涨11.27美元/元或0.30%，日内最高上 探3734.55美元/盎司，最低触及3734.28美元/盎司。 今日周日(1月4日)休市。现货黄金收报3759.40美元/盎司，上涨11.27美元/元或0.30%，日内最高上探 3734.55美元/盎司，最低触及3734.28美元/盎司。 【要闻速递】 同日，伊朗最高领袖哈梅内伊发表讲话，针对美国对委内瑞拉的军事行动表示，"绝不会向敌人屈服"。 他强调，当敌人试图将其意志强加于国家、政府及人民时，必须坚定反抗，挺起胸膛抵御侵略，"我们 绝不向敌人低头"。 【最新现货黄金行情解析】 黄金行情，昨天2026年第一个交易日，我们昨天文章指出黄金4300之上先看上行，然后关注4400美元大 关阻力看回落;从最终走势来看，行情和我们预期一致!目前盘面来看，黄金去年11月初开启的扫荡式上 涨，最终在创出历史新高4550美元后，受芝加哥商品交易所提高保证金影响迎来高位跳水，截止目前为 止最低4275，下跌275美元;本周周线收取一根大阴线，略带上下影! 单就周线而言，上方抛盘压力较大，行情还要调整;但是，黄金 ...

Group 1 - The core viewpoint of the articles highlights the impact of geopolitical tensions and U.S. interest rate expectations on gold prices, with recent military actions in Venezuela and protests in Iran contributing to market dynamics [1][2] - Gold prices closed at $4,332.45 per ounce, up 0.43%, with a weekly high of $4,402.05 and a low of $4,309.62, indicating a volatile market influenced by external factors [1] - The U.S. military operation in Venezuela, which resulted in the capture of President Nicolás Maduro, is expected to further escalate geopolitical tensions, potentially affecting global markets [1] Group 2 - The Iranian currency, the rial, has reached a historic low amid economic crises and nationwide protests, which have resulted in civilian casualties, indicating a deteriorating economic situation that could influence regional stability [2] - In the context of the Russia-Ukraine situation, changes in Russia's stance on peace negotiations may also affect market sentiment and geopolitical stability [2] - Following a period of low retail demand for gold in India and China due to high international prices, a recent decline in gold prices has led to a recovery in retail demand, suggesting a responsive market [2]

News Summary Core Viewpoint - The lead market in 2026 is expected to experience a supply surplus and weak demand, leading to price fluctuations within a range of 16,000 to 18,000 yuan per ton. Seasonal factors may create temporary supply-demand gaps that could elevate prices [4]. Group 1: Market Inventory and Production - As of December 26, 2025, Shanghai lead futures inventory decreased by 780 tons to 27,095 tons [1]. - On January 2, 2026, the London Metal Exchange (LME) reported registered lead warrants of 162,500 tons, with canceled warrants down by 6,025 tons to 76,825 tons, and total lead inventory reduced by 2,600 tons to 239,325 tons [1]. - A medium-sized recycled lead smelting enterprise in Southwest China plans to reduce production by 20%-30% in January due to ongoing raw material supply constraints [1]. Group 2: Supply and Demand Dynamics - The supply side is seeing a slight increase in ore and waste battery recovery, with refined lead production continuing to grow [4]. - Demand is supported by policies encouraging replacements, with positive growth in electric two-wheelers and potential increases in energy storage and lead-carbon batteries. However, exports of lead-acid batteries may decline due to high Shanghai-London price ratios, trade frictions, and tariffs in the Middle East [4]. - The overall assessment indicates a slight domestic surplus, with seasonal consumption expected to pressure prices after a minor uptick at the beginning of the year [4]. Group 3: Market Sentiment and Trading Recommendations - Recent reductions in recycled lead production are primarily due to raw material supply issues, compounded by environmental controls in East and North China [4]. - Downstream large manufacturers are experiencing weaker operations, attributed to the end-of-month accounting period, although there remains some buying activity in the spot market [4]. - The terminal demand is showing significant differentiation, with replacement demand affected by new national standards and automotive battery consumption entering a peak season, though the seasonal effect may not match previous years due to competition from lithium alternatives [4]. - Inventory levels are currently fluctuating downwards, with no significant short-term recovery expected, leading to limited upward potential for lead prices. A cautious trading approach is recommended [4].

节前最后一个交易日，国内期市能化板块涨跌互现。其中，原油期货主力合约开盘报438.5元/桶，盘中 低位震荡运行；截至收盘，原油主力最高触及439.6元，下方探低428.4元，跌幅达1.46%。 东海期货指出，市场在委内瑞拉，俄罗斯与也门的地缘紧张局势和全球供应过剩担忧之间进行权衡。阿 联酋表示将从也门撤军，此前沙特要求阿联酋停止支持也门武装团体。俄乌方面，美国推动的乌克兰和 平计划遭遇新障碍，俄罗斯表示将改变谈判立场，而OPEC本周末的开会预计将维持原定的暂停增产计 划，因为过剩迹象日益明显。短期市场将继续在地缘风险和过剩预期之间拉扯，价格短期持稳，但中长 期压力仍然较大。 国投安信期货分析称，美委局势升级下委内石油出口下滑、俄乌达成和平协议的希望受挫以及围绕也门 的中东地缘紧张局势加剧市场对潜在供应中断的担忧，然而当前原油基本面格局依然由供应过剩主导。 EIA预测全球库存可能每日增加超过200万桶，这一预测已考虑欧佩克+实际产量可能低于目标约130万 桶/日的情形，但仍难改变库存累积逐步增大的整体趋势。地缘冲突导致的溢价倾向于以脉冲式上涨形 式体现，供需宽松的主基调决定了油价中枢下移的格局。 目前来看，原油 ...