近日，证监会对 天风证券股份有限公司 （以下简称 天风证券 ） 为 武 汉当代科技产业集团股份有限 公司（以下简称 当代集团 ） 涉嫌 违法提供融资及 信息披露违法违规 行为作出行政处罚及市场禁入 事先告知。 经查，2020年至2022年期间，天风证券 违法为 原第一大股东当代集团提供融资、未按规定披露 与 当代集团关联交易， 当代集团与天风证券共同实施相关违法行为 ，严重违反证券法律法规。湖北证监 局拟依法对天风证券和当代集团合计处以 2 500 万元的 顶格罚款，对 9名责任人员合计罚款3480万 元，对 当代集团实际控制人艾路明、天风证券 时任董事长余磊 、 时任 副总裁兼 财务总监 许欣采取 终身证券市场禁入措施。对天风证券及有关人员在业务开展、内控合规等方面存在的违法违规行为，湖 北证监局拟依法采取暂停相关业务、责令处分有关责任人员、监管谈话等行政监管措施。上海证券交易 所拟对天风证券、当代集团及有关责任人员依规顶格作出纪律处分。 来源｜证监会网站 编辑 ｜瑜见 前期，为切实维护投资者合法权益，证券监管部门持续提升监管执法效能，湖北省积极行动，当代集团 所持天风证券股权已转让给湖北省有关企业，天风证 ...

胶原蛋白填充剂因其改善面部美观的能力和非侵入性特性，正成为继玻尿酸之后又一种受追捧的医美 填充剂品类。从胶原蛋白成分来源，可分为动物源性胶原蛋白和重组胶原蛋白。从一些已上市的胶原 蛋白填充剂企业来看，销售毛利率可超过八成，但面对如此多的胶原蛋白填充剂涌入市场，行业高毛 利的趋势能否维持？ 2026.02. 13 本文字数：1655，阅读时长大约3分钟 作者 | 第一财经 林志吟 "以前是没得选，现在是不知道怎么选。"有人用这句话来形容当前的胶原蛋白填充剂市场竞争现 状。 今年以来，奇璞生物、巨子生物这两家公司相继有胶原蛋白填充剂产品拿到医疗器械三类注册证。 按照中国监管要求，玻尿酸、胶原蛋白、再生材料及其他新型注射材料需要获得国家药监局三类医疗 器械注册证。从去年以来，共有9款胶原蛋白填充剂产品顺利拿到了三类注册证，这一数量超过了过 去获批的总数。换言之，胶原蛋白三类注册证变得不那么稀缺。 "在高端医美机构与三甲医院，消费者满意度集中于'自然效果'与'维持时间'两大维度。而在下沉市 场，价格敏感型用户占比提升。核心消费群体已初步形成'年龄+问题部位+预算=适合品牌'的认知框 架。医生端作为关键决策节点，其处方 ...

Core Viewpoint - Google has released a significant upgrade to its Gemini3 DeepThink model, designed to tackle complex tasks in scientific and engineering fields, showcasing its potential to solve various challenges in these areas [3][5]. Group 1: Model Performance - DeepThink has set new records in multiple benchmark tests, outperforming competitors such as ClaudeOpus4.6 and GPT-5.2. Specifically, it achieved a score of 48.4% in the "Human Last Exam" test, surpassing ClaudeOpus4.6's 40% and GPT-5.2's 34.5% [6]. - In the ARC-AGI-2 test, DeepThink scored an unprecedented 84.6%, while previous top models scored between 60%-70%, with ClaudeOpus4.6 at 68.8% [6]. - DeepThink's Elo rating on the Codeforces competitive programming platform is 3455, placing it among the top 8 globally in programming skills [6]. Group 2: Practical Applications - The model has demonstrated exceptional performance in chemistry and physics, achieving gold medal-level results in the written portion of the 2025 International Physics and Chemistry Olympiad [6]. - DeepThink has been utilized to identify subtle logical flaws in highly specialized mathematical papers, which were previously overlooked by human peer reviewers [8]. - It has also been applied to optimize complex crystal growth methods and explore new semiconductor materials, with successful outcomes reported in various academic settings [8]. Group 3: User Engagement and Accessibility - Google has made DeepThink available through the Gemini application, with access granted to Google AI Ultra subscribers and select researchers, engineers, and enterprises via the Gemini API [10]. - The model's capabilities have sparked significant interest and astonishment among professionals, particularly regarding its performance in abstract reasoning tasks [9].

2月13日，香港恒生指数收跌1.72%，恒生科技指数跌0.90%。 | 名称 | 现价 | | --- | --- | | 恒生指数 | 26567.12 -465.42 -1.72% | | 恒生科技 | 5360.42 - - 48.56 -0.90% | | 恒生生物科技 | 15755.94 - -60.70 -0.38% | | 恒生中国企业指数 | 9032.71 - -142.47 -1.55% | | 恒生综合指数 | 4078.75 -65.65 -1.58% | 科网股再度下跌，腾讯音乐跌超9%，美团、百度集团跌超3%，理想汽车、哔哩哔哩、阿里巴巴跌超2%，京东集团、快手等跌超1%。 | 名称 | 涨跌幅 ▲ | 现价 涨跌 | | --- | --- | --- | | 腾讯音乐-SW | -9.23% | 59.000c -6.000 | | 美团-W | -3.18% | 82.150c -2.700 | | 百度集团-SW | -3.07% | 135.800c -4.300 | | 理想汽车-W | -2.23% | 72.300c -1.650 | | 峠唾酢唾-W | -2. ...

记者从市场监管总局了解到，为支持和引导互联网平台经营者有效防范反垄断合规风险，促进平台经济 创新和健康发展， 《互联网平台反垄断合规指引》今天发布 。 互联网平台涉及平台经营者、平台内经营者、消费者和从业人员等多方主体。平台经营者能够通过平台 规则、数据、算法、技术手段等影响平台竞争生态，一旦平台经营者从事排除、限制竞争行为，将会损 害多方主体利益。执法实践显示，互联网平台具有独特的竞争特点和规律，在垄断行为类型、表现、损 害等方面与传统领域存在一定差异，平台经济新业态新模式不断涌现，竞争行为纷繁复杂，平台经营者 对识别垄断风险、明晰行为边界充满期待。 制定《指引》是对反垄断合规制度规则的进一步细化，有 利于回应平台经营者关切，支持、引导其精准识别、评估、防范垄断风险。 指引要求，平台经营者应遵循针对性、全面性、穿透性和持续性四大原则，开展反垄断合规管理工作， 实现规则公平、算法向善、竞争合规，切实承担反垄断合规主体责任，健全反垄断合规制度，加强反垄 断合规管理，依法竞争、合规经营，不得利用数据和算法、技术、资本优势、平台规则等从事《中华人 民共和国反垄断法》禁止的垄断行为。 《指引》重点规定了 垄断协议、滥 ...

Core Viewpoint - The article discusses the ongoing excitement surrounding AI video generation models Seedance 2.0 and the new model GLM-5 from Zhiyu, highlighting significant stock price increases in related companies and the growing demand for computational power in the industry [3][5]. Group 1: Market Performance - On February 13, 2026, the cultural media theme index saw notable increases, with Light Media rising by 15.3% and Zhangyue Technology by 10% [3]. - In the AI application index, Deep Technology increased by 10.02% and Fengyuzhu by 9.98% [3]. - Despite declines in the Hang Seng Index and Hang Seng Tech Index, Zhiyu and MiniMax experienced gains of 13.78% and 9.86%, respectively, with Zhiyu's market capitalization reaching a new high since its listing [3][4]. Group 2: Pricing and Demand - Zhiyu announced a price increase for its GLM Coding Plan subscription service, citing strong market demand and a rapid increase in user scale and usage [5]. - The price adjustment, starting from a 30% increase, reflects the need for enhanced computational power and model optimization to maintain service quality under high load [5]. Group 3: Model Advancements - The CEO of ListenHub, Juzi, noted that Zhiyu's price increase signifies a pivotal turning point, driven by the model's enhanced capabilities and the scarcity of tokens [6]. - The GLM-5 model has doubled its parameters from 355 billion to 744 billion and increased its pre-training data from 23 terabytes to 28.5 terabytes, achieving deep compatibility with domestic computing platforms [6]. - Multi-modal models like Seedance 2.0 and Nano Banana Pro are consuming tokens at rates significantly higher than pure text, indicating a surge in demand as these capabilities are unlocked [7]. Group 4: Competitive Landscape - The article highlights that domestic models are rapidly catching up, with Seedance 2.0 and GLM-5 representing validated paths in AI applications for video generation and coding [10]. - In the coding domain, Zhiyu's GLM-5 aims to compete with Anthropic's Claude Opus 4.5, although it still lags behind in certain advanced capabilities [10]. - Chinese companies like DeepMind and Alibaba are recognized as key players in narrowing the gap in AI model development, showcasing strong global competitiveness [12].

Core Viewpoint - The article discusses the rise of red envelope marketing as a unique strategy for market promotion and customer engagement during the Chinese New Year, particularly highlighting its effectiveness in the context of AI applications and consumer behavior [2][3]. Group 1: Red Envelope Marketing - Red envelope marketing has become a common phenomenon among companies during the Spring Festival, creating numerous successful business cases [3]. - The high recognition of red envelopes in China makes them a valuable marketing tool, helping to stimulate consumer activity and enhance the festive market atmosphere [2][4]. Group 2: Consumer Behavior and Market Dynamics - Red envelopes may not provide true consumer surplus but rather represent a discount from merchants or third parties, potentially confusing the relationship between consumers and products/services [4]. - Overuse of red envelope marketing can obscure market price signals and disrupt the genuine expression of consumer preferences, leading to unnecessary purchases [4]. Group 3: Innovation and Market Competition - As the market enters a new phase dominated by AI, the traditional first-mover advantage may become a burden, necessitating rapid innovation to meet changing consumer preferences [5]. - Resources allocated to red envelope promotions may be better spent on enhancing product quality and service scarcity, which could more effectively stimulate consumer activity [5].

【开篇引言】 2026 年伊始，国际黄金市场持续上演着剧烈的价值波动。 因 美联储 降息 预期的反复变化，地缘政治的持续紧张， 以及全球通胀预期的多重博弈，现货黄金 价格在短短两周内暴涨 21% ，触及每盎司 5598 美元的历史峰值。 随后又在 30 小时内暴跌近 670 美元，最大跌幅达 12.92% ，创下 1983 年以来 单日最大跌幅纪 录 。 在国际金价波动的背景下，消费者对于黄金的购买行为也变得更加谨慎 ， 黄金珠宝品牌的营销举措 往往需要承担更大的风险 ；而老凤祥却在逆势之下，取得 双周全渠道 6.09 亿元 的 销售 佳绩。 黄金珠宝行业 的销量 也随之陷入 波动， 不少黄金珠宝品牌面临着需求收缩、库存 增大 的挑战， 市场整体呈现出低迷的态势。 在原材料价格动荡、消费者观望情绪弥漫的 市场 背景下， 一家拥有 17 8 年历史的中国黄金珠宝 品牌的举动， 却引发了截然不同的热度。 金价动荡下 的年轻化破局 2026 年 1 月 17 日，老凤祥正式 官宣 青年演员丁禹兮出任品牌全球代言人。作为精准拿捏角色灵 魂的青年演员，丁禹兮稳扎稳打的专业态度以及时尚大气的公众形象，与老凤祥致力于将 中 ...

2026.02. 13 封图 | AI生成 2月13日，A股三大指数集体收跌。截至收盘，沪指跌1.26%，深证成指跌1.28%，创业板指跌 1.57%，科创综指跌0.38%。 | 代码 名称 | 现价 涨跌 涨跌幅 | | --- | --- | | 000001 上证指数 | 4082.07 c -51.95 -1.26% | | 399001 深证成指 | 14100.19 c -182.81 -1.28% | | 881001 万得全A | 6756.80 c -77.07 -1.13% | | 000680 科创综指 | 1809.18 c -6.97 -0.38% | | 399006 创业板指 | 3275.96 c -52.10 - -1.57% | 盘面上，军工装备、造纸、网约车板块涨幅居前，光伏设备、小金属、钢铁板块走低。 本文字数：711，阅读时长大约2分钟 具体来看，军工装备板块走强，安达维尔、亚星锚链、航发动力涨停，江航装备、江龙船艇涨超 8%。 作者 | 一财阿驴 | 代码 | 名称 | 涨幅� | 现价 | | --- | --- | --- | --- | | 300719 | ...

编辑 ｜ 钉钉 彭博社记者提问，日本方面表示，他们扣押了一艘中国渔船并逮捕了其船长，原因是该船在进入日本专 属经济区后试图逃避检查。外交部对此有何评论？ 林剑表示，中国政府一贯要求中国的渔民依法依规作业，同时坚决维护中国渔民的合法权益。希望日方 严格遵守《中日渔业协定》，公正执法，保障中方船员安全和合法权益。 来源｜北京日报 2月13日，外交部发言人林剑主持例行记者会。 ...