Market Outlook - The A-share market has shown a fluctuating upward trend over the past 25 years, with expectations for a continued bull market in 2026, although the growth rate is anticipated to slow down. Investors are expected to focus more on fundamental improvements and economic verification [1] - The comprehensive competition between China and the U.S. may significantly impact A-share investments, with a warning about potential structural or phase pullbacks in the technology sector [1] Geopolitical Changes - A surprising news event during the New Year holiday was the U.S. military's operation, codenamed "Southern Spear," against Venezuela, which involved the swift capture of President Maduro and his wife, justified by the U.S. as a measure against drug-related terrorism but described as a military action aimed at resource control [4] Motivations for Action - **Heavy Crude Oil**: Venezuela holds the world's largest proven oil reserves at 303 billion barrels, accounting for nearly one-fifth of global reserves. The U.S. relies on high-sulfur crude oil for its extensive refining capacity, and with Mexico achieving energy independence and Canada seeking to diversify its oil exports, the U.S. faces risks to its industrial system if it does not secure Venezuelan heavy oil [7] - **Strategic Minerals**: The Orinoco mining belt in southern Venezuela contains vast strategic resources, including gold, niobium iron ore, and rumored uranium deposits. Venezuela's defense systems were reportedly unresponsive during the U.S. operation, raising questions about their preparedness [8][9] Future of Venezuela - Venezuela may face a future resembling either the "Panama model" (establishing a pro-U.S. government with oil flowing to the U.S.) or the "Iraq model" (entering prolonged turmoil and guerrilla warfare). Following the military action, former President Trump indicated that the U.S. would deeply engage in Venezuela's oil industry, promising significant investments to restore its infrastructure [11] Longxin Storage IPO - Longxin Storage, a leading domestic DRAM manufacturer, has disclosed plans for an IPO to raise 29.5 billion yuan for three major projects, including upgrades to its manufacturing lines and R&D for DRAM technology [12][13] Jingyi Equipment - Jingyi Equipment specializes in semiconductor equipment, particularly temperature control devices, and has broken foreign monopolies. The company has confirmed its products are compatible with advanced 3D NAND manufacturing lines, positioning itself to benefit from the domestic storage expansion wave [15] - The company is also expanding into the vacuum pump market, which has low domestic penetration, with products expected to be validated by Q1 2026 [16] Guang Steel Gas - Guang Steel Gas focuses on industrial gases for semiconductor manufacturing and has established a strong position in the market by breaking foreign monopolies. The company has secured significant contracts and is deeply integrated into the domestic storage chip supply chain [20][19] Wangzi New Materials - Wangzi New Materials is involved in controllable nuclear fusion and commercial aerospace, with significant developments in superconducting magnetic energy storage systems and electromagnetic launch technologies. The company is positioned to capitalize on the growing demand for these advanced technologies in various sectors [25][24]

Group 1 - The core event is the U.S. operation against Venezuela, resulting in the arrest of its president on charges of drug and arms trafficking, which may lead to a significant impact on global oil prices [3] - Venezuela holds approximately 17% of the world's oil reserves, and the potential recovery of its production capacity could alter the global energy supply landscape, putting downward pressure on oil prices [3] - The timing of the U.S. action is linked to domestic political needs, particularly the upcoming midterm elections, indicating a strategic move by the Trump administration to secure electoral support [3] Group 2 - The article suggests that the recent holiday data and funding may indicate a positive market opening, hinting at potential bullish trends in the financial markets [4] - There is a concern regarding the pressure on power grid construction due to the policy of "moderate advancement without excessive advancement," which could impact the energy sector [4]

这是我们2025年最后一天的更新，也是在这一天市场上出现了一些新的迹象，在人工智能下游应用方面 出现了重要消息。 3、2026年有哪些机会？ 如有疑问请以音频内容为准，添加妙投小虎哥微信miaotou515，入群有机会与董小姐进一步交流。 新闻解读评级说明：五星重磅，四星重要，三星级以下大家选择听。 1、人工智能进入并购行情？ 本篇评级为★★★，主要围绕以下内容展开： 1、人工智能进入并购行情？ 2、从智库数据看，看一个市场的长线支撑力 第一个先来看一下，美国社交媒体Meta宣布正式收购由中国团队开发的Manus软件。这个软件听起来有 点耳熟了，它曾经在今年3月份是市场上杀出来的一匹黑马，并且被寄予厚望，提供的产品就是通用人 工智能体。简单来说，给它一个线上任务，它会帮助你自动把任务拆解，自动去调用相应的工具，最终 完成自主的结果交付，可以把它理解成线上私人助理。 在今年三四月份突然大放异彩之后，可惜的是持续的热度并不长，过了之后就淡出了大家的视野。随后 在7月份，公司全部迁到了新加坡，主要提供的是海外业务。半年过去了，现在宣布被Meta收购。我们 暂且不去讨论最终的收购价到底是多少，单单这条路能够走通，对资 ...

尊敬的妙投用户： 按您购买专栏的实付金额，然后根据剩余天数进行计算。 举例：张三花898元购买了一年专栏，从2025年12月31日开始算，还剩100天，则需要给张三的退款金额为：898➗365✖️100=246.03元 2、 您只购买了妙投会员 按您购买妙投会员实付金额的38.81%做为专栏的分摊价值。然后根据剩余天数进行计算。如果剩余天数大于365天，涉及多笔订单退款，则从后往前，逐个 计算。 情况一：剩余天数小于365天 举例：张三在妙投会员取消前，购买了2笔妙投会员，第一笔是1298元，第二笔是1098元（活动价），从2025年12月31日开始算，还剩100天，则需要给张三 的退款金额为：1098✖️38.81%➗365✖️100=116.75元 感谢大家长期以来对《投资风向标》专栏的关注和支持，因妙投业务调整，《投资风向标》专栏将于2025年12月31日停止更新。 针对已订阅专栏的朋友，为了保障您的权益，我们提供了以下退款方案： 我们将从2025年12月31日算起，根据您专栏剩余的有效期核算金额并退款。具体分以下几种情况： 1、 您只购买了专栏 情况二：剩余天数大于365天 举例：张三在妙投会员取消前 ...

Market Performance - On December 29, the three major indices showed mixed results, with the Shanghai Composite Index slightly rising, marking a nine-day consecutive increase, while the ChiNext Index fell over 1% at one point [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.14 trillion yuan, a decrease of 20.9 billion yuan compared to the previous trading day [1] - By the market close, the Shanghai Composite Index rose by 0.04%, the Shenzhen Component Index fell by 0.49%, and the ChiNext Index declined by 0.66% [1] Sector Performance - The top-performing sectors included aerospace, robotics, carbon fiber, digital currency, and cloud computing data centers, with notable increases in their respective indices [2] - The aerospace sector showed a significant rise, with the index increasing from 29 to 30 over the week [2] - Robotics also demonstrated strong performance, with its index rising from 22 to 24 during the same period [2]

3、贵金属，回调还是反转？ 如有疑问请以音频内容为准，添加妙投小虎哥微信：miaotou515，入群有机会与董小姐进一步交流。 本篇评级为★★★，主要围绕以下内容展开： 新闻解读评级说明：五星重磅，四星重要，三星级以下大家选择听。 1、看懂这个官方暗示，看懂汇率方向； 1、看懂这个官方暗示，看懂汇率方向 2、2026年人民币国际化推进，投资市场有何机会？ 今天国内的市场有点原地踏步，我们一起来看一下有哪些支撑因素或压力出现了新变化。 首先，我们关注政策层面最近的一些新表态。第一个值得关注的是财政部召开的全国财政工作会议。虽 然会议并未透露总量层面的具体数字指标——比如特别国债的发行额度或明年的赤字率——但目前市场 上普遍预期，等到明年3月正式公布相关指标时，总量相比今年只会增加、不会减少。因此，整体基调 仍属支持性。 其中有一个细节值得特别留意：在全国财政工作会议结束后发布的新闻稿中，有一句话明确承诺"将继 续安排资金支持消费品以旧换新"，但会"调整和优化补贴的范围和标准"。被扩大覆盖的范围很可能包 括一些服务性消费，这正是2026年的重头戏，也可能成为消费市场中的增量亮点。这项政策具有延续 性，因此在有了这 ...

Core Viewpoint - The humanoid robot industry is transitioning from a "dream phase" to a "calculation phase," highlighting the need for commercial viability and actual orders to sustain investment interest [4][5]. Group 1: Market Dynamics - The humanoid robot market is experiencing a split between hype and reality, as evidenced by the closure of K-Scale Labs, which struggled to convert its demo into a sustainable business model [3][5]. - In 2025, humanoid robots are expected to find their primary application in industrial settings, particularly in manufacturing, where standardized processes allow for better integration [8][12]. - The demand for humanoid robots is primarily driven by the automotive industry, with companies like UBTECH securing significant orders, including a project worth 90.51 million yuan from a car technology firm [9][12]. Group 2: Investment Opportunities - The investment landscape has shifted, with investors now prioritizing companies that can demonstrate actual orders and commercial viability over those with merely impressive demos [5][6]. - The potential for humanoid robots to fill labor gaps in manufacturing is significant, with a reported ROI of 1.2 years for each robot deployed in automotive factories [12][22]. - Companies like UBTECH, Zhiyuan, and Yushun are positioned to dominate the market due to their ability to collect and utilize industrial data, creating a competitive advantage [20][21]. Group 3: Future Projections - The humanoid robot market is expected to undergo a consolidation phase, with leading companies likely to capture the majority of market share, creating a "winner-takes-all" scenario [20][21]. - By 2026, humanoid robots are anticipated to achieve significant commercial viability, with companies focusing on data collection and model iteration to enhance their offerings [16][17]. - UBTECH is projected to achieve revenues of 1.864 billion yuan, 2.664 billion yuan, and 3.686 billion yuan in 2025, 2026, and 2027 respectively, indicating a path toward profitability [23].

Group 1 - The core viewpoint of the article highlights the potential for increased institutional buying power, which may drive the market index to break through its current resistance levels due to a combination of factors including a rebound in US tech stocks, appreciation of the RMB, and rising prices of metals like gold, silver, and copper [2] - The Shanghai Composite Index has achieved an "eight consecutive days of gains," indicating a recovery in market trading volume and a positive shift in external uncertainties [2] - Institutional buying power is expected to strengthen as overseas capital flows back into Chinese assets, driven by a weak dollar environment and narrowing interest rate differentials between China and the US [2][3] Group 2 - The private equity fund sector is experiencing significant growth, with the total management scale increasing by 1.04 trillion yuan to reach 7.0076 trillion yuan in October 2025, and continuing to rise to 7.0383 trillion yuan in November [3] - The asset allocation of private equity funds has increased, with the average position rising to 66%, approaching historical averages seen during bull markets [3] - The current market conditions, including favorable policies and improved sentiment, are expected to enhance institutional buying power, potentially pushing the index closer to its yearly high [2][3]

Group 1 - The core viewpoint of the article highlights the significant price surge in commodities, particularly precious metals, and warns of potential short-term holiday pressures [1][3]. - Precious metals, especially silver and gold, have seen dramatic price increases, with silver rising 10% in a single day and gold reaching a historical high of $4500 per ounce, indicating a possible new market trend or the end of a previous phase [3]. - The recent surge in the precious metals market is attributed to underlying issues such as government debt and monetary easing policies, which drive investors towards "hard assets" like precious metals for safety [3]. Group 2 - The article discusses the short-term effects of the upcoming holiday season, suggesting that the proximity to Christmas and New Year leads to a reduction in short positions in the futures market, contributing to the recent price spikes [3].

Market Performance - The Shanghai Composite Index opened lower but closed higher, achieving a seven-day consecutive rise, while the Shenzhen Component Index and ChiNext Index rebounded after hitting lows [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.92 trillion yuan, an increase of 44.3 billion yuan compared to the previous trading day [1] - By the end of the trading session, the Shanghai Composite Index rose by 0.47%, the Shenzhen Component Index increased by 0.33%, and the ChiNext Index gained 0.3% [1] Sector Performance - The aerospace sector showed significant growth, with a rise from 37 to 42 [2] - The robotics sector also experienced an increase, moving from 24 to 24 [2] - The lithium battery sector saw a notable rise from 8 to 8 [2] - The Hainan Free Trade Port concept maintained its momentum, increasing from 23 to 23 [2] - The consumer sector continued to perform well, with a rise from 17 to 17 [2]