记者丨黎雨桐 易妍君 见习记者林健民 编辑丨曾静娇 从板块来看，脑机接口概念延续强势，十余只成分股涨停，三博脑科、美好医疗、创新医疗2连板。 | < 日 | 脑机接口指数(8841700) | | | | | --- | --- | --- | --- | --- | | | 2022.48 85.06 +4.39% | | | | | 资料 新 | 成分 相关基金 | 资讯 | | 月度收益 | | 爱朋医疗 | | 39.96 | 20.00% | 0.00% | | 300753.SZ | | | | | | 翔宇医疗 | | 87.12 | 20.00% | 0.00% | | 688626.SH | | | | | | 美好医疗 | | 34.63 | 19.99% | 0.00% | | 301363.SZ | | | | | | 创新医疗 | | 26.03 | 10.02% | 0.00% | | 002173.SZ | | | | | | 航天长峰 | | 25.45 | 9.98% | 0.00% | | 600855.SH | | | | | 非银金融板块盘中快速拉升，其中被视为"牛市旗 ...

Core Viewpoint - The strong earnings realization capability of Tianqi Materials has significantly boosted growth confidence among sell-side analysts, with 2026 profit expectations raised from approximately 5.1 billion yuan to around 8 billion yuan, and some institutions projecting profits exceeding 10 billion yuan [1] Group 1: Earnings Forecasts - The company expects a net profit of 1.1 billion to 1.6 billion yuan for 2025, representing a year-on-year growth of 127.31% to 230.63% [1] - The median forecast for Q4 2025 net profit is 929 million yuan, with year-on-year and quarter-on-quarter growth exceeding 500% [1] - Sell-side analysts have raised their profit expectations for 2026 to between 8 billion and 10.5 billion yuan following the earnings forecast release [8][9] Group 2: Market Dynamics - The lithium battery materials sector is expected to experience a "drop and then rise" trend in 2025, with significant price increases in key materials like lithium hexafluorophosphate and vinyl carbonate [4] - The price of lithium hexafluorophosphate surged from 61,000 yuan per ton at the end of September 2025 to 180,000 yuan per ton by year-end, marking a 195% increase in Q4 [4] - The average price of electrolytes in Q4 2025 was 35,500 yuan per ton, with a quarterly increase of 92.41% [7] Group 3: Profit Margin Recovery - The rebound in product prices has led to a significant recovery in the profit margins of Tianqi Materials' main business, with expected net profit per ton of electrolyte increasing from 800 yuan to 4,000 yuan [8] - Historical data shows that Tianqi Materials' net profits for the first three quarters of 2025 were 150 million, 118 million, and 153 million yuan, respectively, with Q4 profits projected to reach 929 million yuan [8] Group 4: Stock Price and Valuation - Sell-side analysts have set target prices for Tianqi Materials above 50 yuan, with the highest target reaching 79.2 yuan per share, indicating a potential upside of nearly 65% from the latest price of 48.04 yuan [11] - Despite a 136.25% increase in stock price in 2025, Tianqi Materials' performance lagged behind smaller companies in the sector, which saw annual increases of around 400% [11] - If the company achieves the projected net profit of 8 billion yuan in 2026, earnings per share could rise to approximately 3.96 yuan, suggesting a potential recovery in stock price towards previous cycle highs [12]

Core Viewpoint - The long-term care insurance (LTCI) system in China is transitioning from pilot programs to a fully established system by the end of 2025, aiming to cover nearly 300 million people and provide support for over 3.3 million disabled individuals, with total fund expenditures exceeding 100 billion yuan [1]. Group 1: Challenges and Risks - The LTCI system has faced fragmentation issues, leading to uneven regional burdens and undermining fairness, with significant reliance on a single funding source, primarily the medical insurance fund [3][5]. - The projected number of disabled individuals in China is expected to rise from 34 million in 2025 to 62 million by 2050, creating a substantial funding demand that current medical insurance reserves cannot sustain [5]. - The lack of standardized disability assessment criteria has resulted in disparities in benefits across regions, necessitating a unified approach to ensure equitable access to services [5][6]. Group 2: Policy and Standardization - The National Medical Insurance Administration has announced plans to standardize funding, benefits, and payment policies to establish a solid foundation for the sustainable development of the LTCI system [5][6]. - A new research project on optimizing disability assessment standards is set to enhance the consistency and traceability of evaluations across the country [6]. Group 3: Role of Insurance Companies - Commercial insurance companies are acting as third-party administrators for LTCI, managing funds and overseeing service quality, but are currently operating in a low-profit environment [8][9]. - The shift towards a fully established LTCI system will require insurance companies to enhance their professional capabilities and adapt to stricter regulatory standards [9][10]. Group 4: Opportunities for Commercial Insurance - The LTCI system's establishment is expected to drive demand for commercial insurance products, particularly in areas not covered by the national program, such as moderate disability and specialized care for high-net-worth individuals [12][13]. - Insurance companies are encouraged to innovate their service offerings, including higher benefit levels and personalized care options, to meet diverse consumer needs [13]. Group 5: Future Outlook - The LTCI system's expansion presents an opportunity for insurance companies to transition from mere payers to integral players in the elder care ecosystem, focusing on service integration and resource optimization [13].

Core Viewpoint - The article highlights the booming concert market in Guangdong, particularly during the New Year period, showcasing how concerts are driving tourism and local economies through a unique economic effect termed "3-hour performance triggering 72-hour consumption" [2][9][12]. Group 1: Concert Market Dynamics - The New Year concert wave in Guangdong saw significant participation, with 11 out of 40 nationwide concerts held in the region, contributing to 40% of the overall excitement [1][9]. - Major artists like G.E.M. and Wang Sulong held multiple performances, with G.E.M. attracting over 42,000 attendees per concert, indicating a strong demand for live events [9][12]. - The concert market is increasingly appealing to the Z generation, who view attending concerts as a way to explore cities and connect with peers, thus transforming concert attendance into a new form of travel [8][9]. Group 2: Economic Impact - Concerts have a substantial economic impact, with a reported ratio of 1:4.8, meaning every 1 yuan of ticket sales generates nearly 5 yuan in additional spending across various sectors [9][12]. - The influx of concert-goers led to a significant increase in hotel bookings, with some areas experiencing a 13-fold increase in hotel orders during concert weekends [12][16]. - Local businesses, including restaurants and retail, capitalized on the concert traffic, with promotions and themed pop-up stores enhancing consumer engagement and spending [12][15]. Group 3: Policy and Future Outlook - The Guangdong government is actively supporting the concert economy, with policies aimed at streamlining event approvals and promoting the region as an international performance hub [16]. - Upcoming concerts in 2026, including major artists, are expected to further solidify Guangdong's status as a leading destination for live entertainment, enhancing its appeal to both local and visiting audiences [16][20]. - The integration of concerts with local culture and tourism is seen as a key strategy for sustaining long-term economic growth in the region [16].

Core Viewpoint - A-shares have experienced a significant rally, with the Shanghai Composite Index reaching a new high not seen since July 2015, indicating strong market sentiment and potential for continued growth in the technology sector [1][4]. Market Performance - As of the latest data, the Shanghai Composite Index is at 4054.25, up by 30.83 points (+0.77%), while the Shenzhen Component Index and the Sci-Tech Innovation Index also showed positive movements [2]. - The A-share market has achieved a remarkable 12 consecutive days of gains, marking the longest streak since 1993, with previous records being 11 consecutive days in 2006 and 2017-2018 [3]. Sector Highlights - The brain-computer interface sector is witnessing explosive growth, with companies like Xiangyu Medical and Aipeng Medical hitting the 20% daily limit up [2]. - Other notable performers include Meihua Medical, Innovation Medical, and Aerospace Changfeng, all showing significant percentage increases [3]. Future Outlook - Analysts from Dongzheng Futures and Debon Securities suggest that the current market sentiment is optimistic, with expectations for a "slow bull" market trend to continue, particularly in technology stocks [4][5]. - The report indicates that sectors such as commercial aerospace, artificial intelligence, and robotics are expected to remain in focus, alongside cyclical sectors like oil and non-ferrous metals [5]. Hong Kong Market Performance - In the Hong Kong market, tech stocks are also performing well, with JD Health rising over 6% and other companies like XPeng and NetEase seeing gains of over 3% [5][6].

针对外界质疑美方未获国会授权便采取军事行动，特朗普表示自己"并不需要国会批准"即可再次派兵， 并坚称国会"事先知情且总 体支持"。但他拒绝透露具体哪些议员获得过通报。 据央视新闻报道，当地时间1月5日，美国总统特朗普在接受采访时表示，美国"并未与委内瑞拉交战"，并称美方当前的行动目标并 非战争，而是打击毒品犯罪和非法移民问题。 特朗普称，美国并非与委内瑞拉政府或国家开战， "而是与贩毒者、向美国输出罪犯和毒品的人开战"。 他指出， 这些问题是促使 美方采取行动的核心原因。 美国将对委内瑞拉进行深度介入 在政治方面，特朗普称， 委内瑞拉在未来30天内不会举行新的总统选举。 他表示，在国家局势稳定之前"不可能举行选举"，美国需 要"先把这个国家修复好"。他预计，美国将对委内瑞拉进行一段时间的深度介入，以推动国家恢复秩序。 在经济方面，特朗普表示，美国可能会通过补贴或收益分成方式，支持美国石油公司参与重建委内瑞拉能源基础设施，并称该过程 可能在18个月内完成，但需要"极其庞大的资金投入"。 特朗普表示， 委内瑞拉代总统罗德里格斯目前正在与美方合作， 但否认在马杜罗被美方强行控制前，美方曾与其阵营达成任何协 议。他称 ...

Core Viewpoint - The article discusses the implementation of new policies in 2026 aimed at promoting equipment updates and the trade-in of consumer goods, which are expected to significantly boost consumption and investment, benefiting over 360 million people and generating sales exceeding 2.6 trillion yuan by 2025 [1][2]. Group 1: Equipment Update Policy - The 2026 policy expands and optimizes support for traditional industries while including new areas such as installing elevators in old residential communities and enhancing public safety facilities, indicating a shift towards balancing production and living standards [2][3]. - Specific adjustments in the subsidy mechanism aim to enhance precision and effectiveness, such as prioritizing the replacement of old operational trucks with new energy electric vehicles and adjusting subsidies for old elevators based on building floors [2][3]. Group 2: Consumer Goods Trade-in Policy - The new policy focuses on key consumer goods like automobiles and core home appliances, streamlining support to enhance effectiveness and market impact [3][4]. - The subsidy mechanism for automobiles has shifted from fixed amounts to a percentage of the new vehicle sales price, aiming for a more efficient allocation of fiscal resources [4]. - Emerging consumer sectors, such as smart glasses and age-friendly home products, have been included in the support scope, reflecting a forward-looking approach to policy adjustments [4]. Group 3: Service Consumption Shift - The article notes a transition in China's consumption structure from goods to services, with service consumption becoming a key driver for domestic demand, suggesting that future policies will focus on sectors like culture, sports, health, and elder care [4].

Core Viewpoint - Airwallex has announced a significant partnership with China Construction Bank to launch a new personal cross-border remittance product called "Full Amount Arrival," which aims to reduce costs and improve convenience in cross-border transactions [1][6]. Group 1: Financing and Valuation - Airwallex recently completed a Series G financing round, raising $330 million, with a valuation of $8 billion, reflecting a nearly 30% increase from the previous round [4][5]. - The company is projected to surpass $1 billion in annual revenue by October 2025, representing a 90% year-on-year growth [1][5]. Group 2: Product Launch and Features - The "Full Amount Arrival" service addresses long-standing pain points in traditional cross-border remittance, such as complex processes and high fees, by providing a more efficient and transparent experience [7][8]. - The service integrates the strengths of both Airwallex and China Construction Bank, optimizing transaction paths and enhancing processing efficiency [7][8]. Group 3: Strategic Partnerships and Ecosystem - Airwallex has established partnerships with major global banks, including JPMorgan, Standard Chartered, and Deutsche Bank, to create a robust global payment network [11]. - The collaboration with China Construction Bank marks a significant milestone in the development of China's financial ecosystem, showcasing Airwallex's capabilities in fintech and cross-border finance [11][12]. Group 4: Future Plans and Market Expansion - Airwallex plans to set up a second global headquarters in San Francisco, aiming to double its team size in the U.S. to over 400 people within a year [5]. - The company intends to invest over $1 billion in the U.S. market from 2026 to 2029 to support its strategic expansion [5].

来源丨新华社 编辑丨黎雨桐 马杜罗首次出庭：我是被绑架的，我无罪 委内瑞拉超1700万桶原油滞留海上，危机或影响化工市场 SFC 2 1君荐读 据新华社报道，目击者称，位于委内瑞拉首都加拉加斯的总统府附近5日传出枪声。目前尚不清楚具体情况。 一键追踪美国"闪击"委内瑞拉时间线： ...

Group 1 - The Venezuelan government has issued a decree requiring police at all levels to search for and arrest individuals involved in inciting or supporting U.S. armed attacks, with a focus on immediate judicial action [1] - The decree includes emergency defense measures such as militarization of public service infrastructure and the oil industry, enhanced border patrols, and the establishment of "comprehensive defense command posts" across the country [1] - A national state of emergency has been declared due to U.S. military actions against Venezuela, which are viewed as severe violations of territorial integrity, sovereignty, and independence [1] Group 2 - Venezuela asserts its inherent right to self-defense against what it describes as illegal and unreasonable armed attacks, as stated in Article 51 of the UN Charter, and commits to repelling U.S. aggression [1] - The decree was signed by President Maduro prior to his reported abduction by U.S. forces, which included a large-scale military strike on Caracas [1] - Maduro and his wife appeared in a New York federal court, where he claimed he was kidnapped and denied all charges against him [5]