截至9月24日7时，今年第18号台风"桦加沙"（超强台风级）位于阳江市东偏南方向约210公里 的南海北部海面上，最大风力16级（55米/秒），八级大风范围半径约350公里，十级大风范围 半径约160公里。 2 智能 悦 读 · 权 威 . ry S 扫码点击下载 根据省气象台24日最新预计， "桦加沙"将于24日下午到夜间在台山到徐闻之间沿海登陆 。 根据气象部门监测，24日3时-24日6时，江门、中山、东莞、深圳、惠州、汕尾等地出现11-13 级短时大风，其中（不含海面石油平台）最大风力的站点是：珠海香洲区担杆镇52.7米/秒。 同时，在西北太平洋上， 今年第20号台风"博罗依"在24日5时生成，强度为热带风暴级（8 级） 。"博罗依"这一名字由泰国提供，意指一种泰式甜品。 根据中央气象台目前的台风路径预测，"博罗依"最强可达台风级， 或将于29日趋向海南到粤 西一带。是否影响国庆出行，待进一步监测。 更多台风动态消息↓ ↓ ↓ 聚焦丨关注超强台风"桦加沙" 来源丨南方+ 编辑丨张嘉钰 视频丨许婷婷 台风"桦加沙"体型比广东大，多地停课、停工、停产、停运、停业！广州紧急通知 别慌！广东多地提醒：生活必需品供 ...

Core Viewpoint - The article highlights the significant increase in the activity of securities apps in August, driven by a bullish A-share market, innovative strategies from brokerages, and the integration of AI technology in services [1][6][16]. Market Performance - In August, the A-share market saw a strong performance, with the Shanghai Composite Index reaching a peak of 3888.6 points, marking a monthly increase of 7.97% [3]. - The average daily trading volume in A-shares was 2.31 trillion yuan, reflecting a month-on-month growth of 41.27% [3]. - The securities transaction stamp duty for August was reported at 25.1 billion yuan, a year-on-year increase of 225.97% [3]. User Engagement in Securities Apps - The monthly active user count for securities apps reached 173 million in August, a month-on-month increase of 4% and a year-on-year increase of 27.26%, setting a new record for 2025 [2][3][5]. - The top three third-party securities apps, Tonghuashun, Dongfang Caifu, and Dazhihui, maintained a dominant position, with active user numbers significantly higher than brokerage apps [8][10]. Factors Driving User Growth - The primary driver for the increase in app activity was the recovery of the A-share market, which boosted investor enthusiasm [6]. - Brokerages implemented innovative operational strategies during the "818 Wealth Management Festival," extending activities to enhance user engagement [6]. - The integration of AI technology in securities apps has enabled personalized services and precise investment advice, further attracting users [6][16]. Competitive Landscape - The competition among securities apps has intensified, with a clear distinction between the leading third-party apps and smaller brokerage apps [8][10]. - In August, the top three third-party apps had active user counts of 36.73 million, 17.90 million, and 12.58 million, respectively, while major brokerage apps like Huatai and Guotai Haitong also surpassed the 10 million mark [9][12]. Future Outlook - Analysts suggest that while the overall user base for securities apps is unlikely to drop sharply, the growth rate may slow down due to market fluctuations and reduced trading frequency among retail investors [13][14]. - The ability of securities apps to maintain user engagement will depend on their capacity to offer differentiated tools and services that cater to changing market conditions [14][17].

出品丨21财经客户端 21世纪经济报道 编辑丨黎雨桐 实习生沙昕湲 全球资本扫货黄金，金价年内创36次新高 余额宝12年来首次降费，即日生效 7倍大牛股搭上AI芯片，跑出15连板 SFC 21君荐读 视频丨张迎 记者丨高梦阳 9月23日，在2025云栖大会开幕前一天，21世纪经济报道记者在大会现场体验了人形机器人零 售服务。由银河通用人形机器人Galbot完成了一单奥利奥的销售全过程。 ...

记者丨黎雨桐 编辑丨江佩霞 北京时间23日晚，美股三大指数开盘涨跌不一，截至22时53分，道指涨0.51%，纳指跌0.17%，标普500指数跌0.05%。 英特尔、台积电大涨，英伟达逆势下跌 21财经·南财快讯记者发现，当晚美股半导体股多数上行。 英特尔涨超4%，台积电盘涨超3%。消息面上，花旗分析师报告表示，在英伟达和英特尔合作后，台积电可能仍将是这两家公司的主要代工 方。据每日经济新闻，英伟达8月份证实，台积电正为其下一代Rubin架构生产六款新芯片。花旗分析师预测，到2026年，台积电来自英伟达的 收入将增长50%，来自英特尔的收入将增长20%。 多只热门中概股下跌 纳斯达克中国金龙指数开盘走低，跌0.57%，百度跌超5%。 哔哩哔哩、名创优品、新东方跌超2%。 | | | 英伟达一度逆势跌超2%。消息面上， 英伟达 与OpenAI在本周一宣布达成合作，将一起建设大型数据中心，英伟达还将对OpenAI最高投资 1000亿美元，这引发市场对英伟达公司未来方向的担忧，对此，英伟达在周一晚些时候的声明中强调，对OpenAI投资不会改变公司重点，也 不会影响对其他客户的供应。 美联储新任理事米兰首次发表政策演讲 ...

9月23日，上海市公安局、上海市市场监督管理局、上海市教育委员会联合发布《情况通 报》： 9月16日，关注到相关舆情后，市场监管部门和教育部门立即对受影响的学校和食品进行排 查。经查：绿捷公司9月15日共向全市211所学校供应涉虾仁相关菜品，接到异常情况报告后逐 一电话通知停止供应。其中，161所学校回收了相关原料、半成品及成品菜品，50所学校在接 到通知前已供餐。涉事虾仁为进口"冷冻南美白虾虾仁"，由上海翰霖实业有限公司报关，经上 海优合鲜供应链有限公司向绿捷公司供应，生产日期为2025年3月20日，保质期24个月，有入 境货物检验检疫证明、检验检测报告。 针对市民反映的上海绿捷实业发展有限公司（下称"绿捷公司"）9月15日供应本市部分学校午 餐中虾仁炒蛋存在问题，市委、市政府高度重视，相关部门迅速介入调查。 现已查明：9月15日9时40分左右，绿捷公司派驻静安区某小学经理孙某某发现配送至该校的3 箱虾仁解冻焯水后，其中一盆（约18公斤）内有虫，即报告公司品质部负责人钱某，钱某将情 况报告公司实际控制人张某某，张某某指令业务经理等人对供应211所学校（含分校区）的虾 仁原料及菜品全部下架并就地销毁。9月16 ...

记者丨 庞华玮 编辑丨张星 "9·24行情"满一周年，这一年，A股市场一扫阴霾，赚钱效应显著。 值得一提的是， 这是一场以科技创新和高质量发展为核心的"结构牛"，它正深刻地改变着A股结构和投资版图。 近一年，作为科技和新经济代表的创业板指、科创50、北证50等三大指数的涨幅均超过100%，人形机器人、半导体、算力、创新药赛道等轮 动行情引爆结构性牛市。 创业板指近一年走势。 截至9月23日收盘，近一年上证指数累计上涨39%，沪深300上涨41%，北证50指数更是暴涨158%。 个股方面，全市场近3000只个股涨幅逾 50%，其中1400余只股价翻倍。 "三驾马车" 去年"9·24行情"至今刚好满一年的时间，过去一年，A股市场走出了两波大幅上涨的行情：第一波是"9·24新政"出台之后，市场出现快速上攻， 大盘在短短的几个交易日上涨逾千点，随后出现了一定的调整。 第二波行情是从今年六月底至今，这一波上攻超过了去年10月8日创出来的上证指数高点，A股形成了牛市的走势。 A股经过这两波大涨，指数全面开花，其中科技股含量重的指数表现尤为突出。 创业板指、科创50、北证50，这"三驾马车"作为新经济的代表，近一年（202 ...

Core Viewpoint - The article highlights the significant growth in the number of active equity fund managers in the A-share market, with 15 new managers surpassing 10 billion yuan in assets under management in the first half of 2025, driven by strong performance and market conditions [1][3]. Group 1: Fund Manager Growth - As of the end of Q2 2025, there are 84 active equity fund managers managing over 10 billion yuan, an increase of 15 from the end of 2024 [1][3]. - The new managers come from 11 different public fund institutions, with notable contributions from China Europe Fund, Huatai-PB Fund, and Yongying Fund [1][3]. - The management scale of these new managers has increased by over 100%, indicating strong performance and investor confidence [1][3]. Group 2: Performance Metrics - A total of 77 active equity funds achieved returns exceeding 100% year-to-date, while 1,167 funds returned between 50% and 100% [3]. - The major indices, including CSI 300 and ChiNext 50, saw increases of 14.94% and 53.13%, respectively, highlighting a favorable market environment for active equity funds [3]. Group 3: Individual Fund Manager Performance - The top three fund managers by management scale are Zhang Wei from Huatai-PB (16.764 billion yuan), Yan Siqian from Penghua (16.136 billion yuan), and Lan Xiaokang from China Europe (15.558 billion yuan) [4][6]. - Significant growth rates were observed, with Zhang Lu and Gao Nan from Yongying achieving increases of 761.20% and 337.03%, respectively [7][6]. - Other managers like Guo Jie from E Fund and Chen Yanzhong from GF Fund also reported substantial growth, with increases of 198.47% and 239.96% [7][6]. Group 4: Investment Strategies - The newly promoted fund managers are focusing on sectors such as robotics, pharmaceuticals, and domestic consumption, reflecting a trend towards innovation and growth [10][12]. - Zhang Lu emphasizes the importance of core robotics companies and government support for the industry, while Zhang Wei is focusing on innovative pharmaceutical companies with global competitiveness [10][12]. - Blue Xiaokang highlights opportunities in both traditional industries and new production capabilities, suggesting a balanced approach to investment across various sectors [12].

Core Viewpoint - The article highlights the significant rise in gold prices, which have reached historical highs, driven by factors such as Federal Reserve interest rate cuts, a weakening dollar, and ongoing geopolitical tensions in the Middle East [3][5][6]. Group 1: Gold Price Trends - As of September 23, gold prices surged to a record high of $3,784 per ounce, marking a cumulative increase of 43% this year [3][5]. - Gold futures have also surpassed $3,800 per ounce, indicating a strong upward trend [3]. - The gold sector has seen substantial gains, with stocks like Xiaocheng Technology and Zhongjin Gold reaching new highs, and some stocks increasing over 170% year-to-date [5][6]. Group 2: Investment Behavior - SPDR has significantly increased its gold holdings, adding 18.9 tons on September 19 and 6.01 tons on September 22 [4]. - Investors are actively buying gold ETFs despite concerns about high prices, with one investor noting that every sale has felt like a mistake due to continuous price increases [5]. - The demand for gold in asset allocation is rising, with nearly 45% of FOF products now holding gold ETFs, up from 192 products last year [9]. Group 3: Market Analysis and Predictions - Analysts predict that gold prices will continue to rise due to the Federal Reserve's interest rate cuts and ongoing geopolitical risks, which are expected to support gold as a safe-haven asset [6][8]. - Deutsche Bank attributes the record high gold prices to heightened risk aversion among investors, who are wary of potential downturns in the stock market [8]. - Long-term forecasts suggest that gold prices could reach $4,000 to $5,000 per ounce by 2026, driven by various economic factors [8]. Group 4: Impact on Companies - The surge in gold prices has created favorable conditions for gold companies to enter the capital market, exemplified by Zijin Mining's plans for an IPO of its subsidiary, which could achieve a market valuation of approximately HKD 187.85 billion [10].

Core Viewpoint - Cambodia is transforming from a rubber-producing country with little connection to tire manufacturing into a significant player in the tire industry, driven by Chinese investments and favorable market conditions [1][4][5]. Group 1: Market Potential and Growth - The tire manufacturing sector in Cambodia is rapidly becoming a key driver of economic growth, with tire exports projected to reach $870 million in 2024, a 129% increase from $380 million in 2023 [4]. - The establishment of Chinese tire companies in Cambodia, such as Sailun and General Tire, is reshaping the local economy and creating new opportunities in the tire market [5][9]. Group 2: Strategic Advantages - Cambodia benefits from a "policy arbitrage window" and cost optimization, including favorable trade policies and lower raw material costs, making it an attractive location for tire manufacturing [4][8]. - The country has a significant natural rubber plantation area of 425,000 hectares, which provides a cost advantage for tire production [8]. Group 3: Infrastructure and Supply Chain Development - The Cambodian government is accelerating infrastructure development to support the growing tire industry, including logistics projects and energy investments [14][15]. - The local labor cost is low, with a minimum wage of $204 per month in 2024, enhancing the competitiveness of Chinese tire brands [8]. Group 4: Challenges and Future Outlook - Despite the rapid growth, Cambodia still faces challenges in local supply chain development and infrastructure bottlenecks, which need to be addressed for sustainable growth [15][16]. - The experience in Cambodia serves as a testing ground for Chinese tire companies as they expand their global footprint, with plans to invest in markets like the Middle East and Africa [16].

Core Viewpoint - Multiple money market funds, including Tianhong Yu'ebao, have announced fee reductions to better meet investor needs and lower investment costs amid a declining yield environment [1][4][6]. Group 1: Fee Reductions - Tianhong Fund announced a reduction in the custody fee for Tianhong Yu'ebao from 0.08% to 0.07%, effective September 23 [1][4]. - This marks the first fee reduction for Tianhong Yu'ebao since its establishment 12 years ago [4]. - Other funds, such as E Fund and Guoxin Guozheng, also announced fee reductions, with E Fund lowering its management fee from 0.20% to 0.15% and custody fee from 0.08% to 0.05% [4][6][8]. Group 2: Fund Performance and Market Context - As of June 30, 2025, Tianhong Yu'ebao's total scale reached 793.2 billion, making it the largest public fund in the market [4]. - The average 7-day annualized yield for money market funds has declined from approximately 1.35% at the beginning of the year to 1.23% by September 22, with Tianhong Yu'ebao's yield at 1.02% [8]. - The current fee structure for Tianhong Yu'ebao is slightly higher than the market averages, which are 0.059% for custody fees, 0.24% for management fees, and 0.13% for service fees [4][8]. Group 3: Market Outlook - The cash management product yields are expected to remain low due to a loose monetary environment and declining bank deposit rates [9]. - Despite the low yields, cash management products continue to offer advantages as stable liquidity management tools [9].