Core Viewpoint - Shenzhen Huada Beidou Technology Co., Ltd. is making a second attempt to list on the Hong Kong Stock Exchange, with updated financial data showing a revenue of 403 million yuan, a 20% year-on-year increase, but a net loss of 64 million yuan, which is a 16% increase in losses compared to the previous year [1][3]. Group 1: Company Background and Financials - Huada Beidou originated from the navigation chip design business of China Electronics Corporation (CEC) and has attracted significant investments from major companies like BYD and Bosch [1]. - The company has reported net losses of 93 million yuan in 2022, 289 million yuan in 2023, and 141 million yuan in 2024, with a cumulative net loss of 588 million yuan over the past three and a half years [3][4]. - Research and development costs have exceeded 330 million yuan over the past three years, accounting for more than 14% of revenue [4]. Group 2: Market Position and Product Applications - Huada Beidou's GNSS chips hold over 60% of the Chinese shared bicycle market, covering major platforms like Meituan and Qingju [3][4]. - The company is the sixth largest GNSS service provider globally, with a market share of 4.8%, and ranks second among domestic companies [3]. - The self-developed GNSS chip business, which has a higher gross margin of 26%, currently accounts for only 32.2% of total revenue [4]. Group 3: Future Growth Strategies - The company is focusing on smart driving and low-altitude economy sectors, with expectations of significant growth in GNSS chip shipments in these areas [7][8]. - The low-altitude economy is projected to have a compound annual growth rate of 34.5% from 2024 to 2029 for GNSS chips and modules [8]. - Huada Beidou is in discussions with leading drone manufacturers to explore potential applications of GNSS chips in consumer drones [8]. Group 4: Competitive Landscape - In the smart driving and low-altitude economy sectors, Huada Beidou faces competition from established players like Beidou Xingtong and Huace Navigation, which have already secured significant market shares [9]. - The average selling price of standard precision chips has decreased from 7.4 yuan to 4.8 yuan from 2022 to 2024, indicating competitive pricing pressures [9]. Group 5: Financial Outlook and Funding - As of June 30, 2025, the company had cash and cash equivalents of 244 million yuan, which is less than its R&D expenditure for 2024 [10]. - The funds raised from the upcoming IPO are intended to enhance R&D capabilities, expand product offerings, and improve sales networks [10].

Core Viewpoint - The article discusses the significant rise in gold prices due to geopolitical tensions, with a notable increase of nearly $100 to $4430 per ounce on January 5, 2026, and highlights the optimistic outlook for gold in 2026 driven by monetary easing and heightened risk aversion [1][3][9]. Price Adjustments - Jewelry brands, such as Chow Sang Sang, are adjusting their gold jewelry prices upwards by 200 to 1500 yuan starting January 6, 2026, in response to the rising international gold prices [3][4]. - The price of 24K gold jewelry was reported at 1376 yuan per gram on January 5, 2026, reflecting the sensitivity of jewelry prices to fluctuations in international gold prices [5][7]. Market Sentiment and Predictions - The surge in gold prices is attributed to a concentrated release of market risk aversion, with institutions expressing a positive outlook for gold prices throughout 2026 [3][9]. - UBS has raised its gold price targets for March, June, and September 2026 from $4500 to $5000 per ounce, indicating a strong demand for gold as a safe-haven asset amid geopolitical risks [9][10]. - The report suggests that if financial or political risks escalate, gold prices could challenge the $5400 per ounce mark [10]. Institutional Insights - The article notes that global central banks are expected to increase their gold purchases to 950 tons in 2026, up from a previous estimate of 900 tons, reflecting a strong intent to diversify reserves [10]. - The current market dynamics indicate that gold remains a critical asset for hedging against macroeconomic uncertainties, despite potential short-term volatility due to policy changes or market sentiment [10].

记者丨 唐铮玮 2026年首个交易日，A股市场高开高走迎来开门红，截至收盘，沪指涨1.38%重回4000点上 方，录得十二连阳，深成指涨2.24%，创业板指涨2.85%。沪深两市成交额高达2.55万亿，较 上一个交易日放量5011亿，全市场超4100只个股上涨。板块上，保险板块集体爆发，新华保 险、中国太保大涨续创历史新高。商业航天概念反复活跃，半导体产业链走强，AI应用概念表 现活跃。下跌方面，海南自贸概念集体大跌。 回顾2025年全年，A股持续走强，沪深两市全年总成交额超400万亿元创下年度历史新高，A 股总市值跃升至近109万亿元，年内新增近23万亿元。各大主要指数全线上涨，其中，创业板 指领涨市场全年涨幅高达49.57%，沪指全年上涨18.41%再度逼近4000点，深证成指全年上涨 29.87%，科创50指数全年上涨35.92%，北证50指数全年上证38.80%。板块方面，CPO（光模 块）、存储芯片、商业航天、有色金属等方向领涨，胜宏科技、新易盛、中际旭创等多只科技 龙头全年涨幅超过3倍。 据不完全统计，目前已有30余家券商发布了2026年1月投资组合和最新市场观点。 纵观这些报告，多家机构看好市场 ...

Group 1 - Longfor Group completed the principal repayment and interest payment for the "21 Longfor 02" bond on January 5, involving a total amount of approximately 1.038 billion yuan [1] - The bond was issued in 2021 with a total amount of 1 billion yuan and a coupon rate of 4.4%, with the redemption date set for January 7, 2026 [1] - After the repayment of "21 Longfor 02," Longfor Group's domestic credit bond balance is approximately 3.4 billion yuan, with various maturities in 2026 and 2027 [1] Group 2 - As of June 30, 2025, Longfor Group's total borrowing was 169.8 billion yuan, a decrease of 6.53 billion yuan compared to the end of the previous year [2] - The net debt ratio stands at 51.2%, with an average financing cost of 3.58% per annum and an average loan term of 10.95 years [2] - The company has cash on hand amounting to 44.67 billion yuan [2] Group 3 - Longfor Group's CFO indicated that 2025 will be a peak year for debt repayment, with over 60 billion yuan to be repaid, and around 20 billion yuan for both 2026 and 2027 [1] - The company aims to stabilize its interest-bearing debt at around 100 billion yuan in the future [1]

Group 1 - The A-share market opened positively in 2026, with the ChiNext Index leading the gains and the Shanghai Composite Index surpassing 4000 points, marking a twelve-day winning streak [1] - The commercial aerospace sector is experiencing significant activity, with multiple stocks hitting the daily limit up, including Leike Defense and China Satellite Communications [1] - China's space exploration initiatives are advancing, with plans for manned lunar missions and the Chang'e 7 mission aimed at finding water ice on the Moon [1] Group 2 - The brain-computer interface (BCI) sector is witnessing a surge, with individual stocks like Beiyikang hitting the daily limit up, reflecting a broader market trend [2] - Elon Musk's company Neuralink plans to begin large-scale production of BCI devices in 2026, which could revolutionize human-robot interaction and expand applications beyond medical needs [2] - The global BCI market is projected to grow to approximately $12.4 billion by 2034, with a CAGR of 17% from 2025 to 2034 [2] Group 3 - Goldman Sachs recommends overweighting Chinese stocks in 2026, predicting annual market growth of 15% to 20% for 2026 and 2027, driven by factors such as AI applications and the "going out" trend [2] - The current valuation of the Chinese stock market is significantly discounted compared to global peers, presenting potential investment opportunities [2]

| 名称 | 现价 | 涨跌幅 -- | | --- | --- | --- | | 快手-W | 73.600 | 11.09% | | 1024.HK | | | | 毕 哩 哔 里-W | 209.800 | 5.06% | | 9626.HK | | | | 华虹半导体 | 84.000 | 3.32% | | 1347.HK | | | | 京东健康 | 58.200 | 3.28% | | 6618.HK | | | | 阿里巴巴-W | 152.800 | 2.55% | | 9988.HK | | | | 阿里健康 | 5.320 | 2.11% | | 0241.HK | | | | 中芯国际 | 76.500 | 1.86% | | 0981.HK | | | | 金山软件 | 29.700 | 1.78% | | 3888 HK | | | 港股汽车股跌幅居前，蔚来跌近6%，小鹏汽车跌超4%、零跑汽车跌超3%，长城汽车跌超 6%。 | 名称 | 现价 | 涨跌幅 -- | | --- | --- | --- | | 蔚来-SW | 38.860 | -5.95% | | 9866.HK ...

央视记者今天（5日）从国家卫生健康委了解到，2026年度育儿补贴今天正式开始申领，凡是 符合申领条件的婴幼儿，其申领人今天就可以通过支付宝、微信平台的"育儿补贴"小程序， 还有婴幼儿户籍所在省份的政务服务平台育儿补贴申领专区线上申领，也可以到户籍所在地 的相关部门线下申请办理。 来源丨央视新闻 编辑丨金珊 见习编辑林芊蔚 两部门明确最新国补政策，625亿元提前下达 9年来首降！个人购房2年以下增值税税率降至3% SFC 21君荐读 2 悦 读 · 智能 权 威 . r7 o 扫码点击下载 新一年育儿补贴线上申领的最大变化，是在去年的基础功能上增加了续领功能。也就是说， 2025年已申领过育儿补贴且符合新一年继续申领条件的婴幼儿，其申领人可以进行续领申 请。 如果信息没有变化，则可直接进行一键续领操作，简化申领流程。如果信息有变化，只需要 点击修改，系统会将第一次申请信息自动带入，申领人只需针对有变动的内容进行修改再提 交就可以了。 如果婴幼儿今年是第一次申请育儿补贴，可以提前准备好相关证件信息，点击我要申请补 贴，填写相关信息，提交成功后等待工作人员审核即可。 ...

水利部原党组成员、副部长田学斌涉嫌严重违纪违法，目前正接受中央纪委国家监委纪律审查 和监察调查。 来源丨中央纪委国家监委网站 编辑丨黎雨桐 SFC ...

Group 1 - The control struggle within the century-old shoe company, Double Star Celebrity Group, has intensified, with founder Wang Hai publicly severing ties with his son Wang Jun and daughter-in-law Xu Ying, accusing them of betrayal and misconduct [1][3][10] - The root of the conflict dates back to a 2022 equity change, where Xu Ying's company acquired 56.96% of Double Star Celebrity, making her the largest shareholder and leading to Wang Hai losing absolute control [3][6] - In December 2025, Xu Ying announced the removal of Wang Hai from his positions, claiming a board resolution had been passed without his consent, which Wang Hai later contested as illegal [6][10] Group 2 - Wang Hai's recent statement emphasized that both Wang Jun and Xu Ying hold U.S. citizenship, arguing that a national brand like Double Star should not be led by foreign nationals [10] - The company is facing operational challenges, with reports indicating that the domestic sales segment of a competitor, Peak, has incurred losses exceeding 130 million yuan from January to July 2025, highlighting the difficult market conditions [11] - Amidst the internal conflict, Double Star Celebrity's leadership is making strategic decisions, such as terminating the agency rights of its Nanyang company due to poor performance and operational issues [10][11]

Core Viewpoint - The Chinese government expresses strong concern over the U.S. actions against Venezuelan President Maduro and his wife, calling for their safety and immediate release, while advocating for dialogue to resolve the situation [1]. Group 1 - The Chinese Ministry of Foreign Affairs supports the UN Security Council in convening an emergency meeting regarding U.S. military actions against Venezuela [1]. - The Chinese government emphasizes that U.S. actions violate international law and the principles of the UN Charter [1]. - China calls for the U.S. to stop efforts to overthrow the Venezuelan government and to engage in negotiations [1].