Group 1 - The core viewpoint of the article highlights the impressive performance of A-shares in 2025, with significant gains in hard technology stocks, including two stocks, Upway New Materials and Tianpu Co., which saw over 1000% increase in their annual stock prices [1] - In 2025, 538 stocks achieved an annual increase of over 100%, representing 10.05% of the total stocks, indicating a substantial number of doubling stocks [1] - Tianming Technology, part of the automotive parts supply chain and robotics sector, experienced a remarkable annual increase of 152% in 2025, with its stock price hitting a peak after two consecutive 30%涨停 (limit-up) days [5][6] Group 2 - The article reports that during the last week of 2025, over 36% of stocks saw an increase, with 76 stocks rising over 15%, while 27 stocks fell more than 15% [3] - Tianming Technology led the weekly gains with a 65.78% increase, followed by Boke Co. with a 50.42% rise, and the top ten stocks in this period all had cumulative increases exceeding 33% [3] - The article mentions that external factors, such as potential administrative actions from the Trump administration regarding robotics and market anticipation for Tesla's Optimus project, may have contributed to the positive sentiment in the robotics sector [6] Group 3 - The article discusses the bearish performance of Guandao Tui, which saw a decline of over 61% and is set to be delisted on January 5, 2026, after its stock entered the delisting period on December 11, 2025 [8][9] - Guandao Tui's stock price dropped to 0.86 yuan, reflecting a 21.82% decrease by the end of 2025, with a market capitalization of 0.6 billion yuan [9] Group 4 - Foreign investment institutions, including Goldman Sachs and Morgan Stanley, have expressed positive expectations for the Chinese stock market, predicting a potential 38% increase by the end of 2027 [12] - The focus of foreign investment is on structured opportunities in technology innovation, particularly in artificial intelligence, semiconductors, and high-end manufacturing, as well as green energy transition industries [12] - The article notes that foreign capital is primarily flowing into high-quality Chinese assets, including technology leaders and high-dividend stocks, indicating a preference for value investment [12]

据新华社，美国司法部长邦迪3日通过社交媒体发布消息说，马杜罗及其夫人已在美国纽约南 区联邦地区法院被起诉。邦迪没有使用马杜罗的委内瑞拉总统头衔。邦迪称， 马杜罗被指控 犯有"毒品恐怖主义阴谋罪、可卡因走私阴谋罪、持有机枪及破坏性装置罪，以及针对美国的 持有机枪及破坏性装置阴谋罪"。马杜罗及其夫人将很快在美国法庭接受美国司法审判 。 俄罗斯要求美国立即对马杜罗被强行带离出境的报道作出澄清 据新华社， 俄罗斯外交部3日发表声明说，俄方对有关委内瑞拉总统马杜罗及其夫人因美国采 取的侵略行动而被强行带离出境的报道感到极其震惊。俄方要求美方立即对此事作出澄清。 俄外交部表示，如果该情况属实，则构成对一个独立国家主权不可接受的侵犯，而尊重独立国 家的主权是国际法的关键原则。 在委内瑞拉中企人员暂无伤亡情况 新华社记者3日从在委内瑞拉的多家中企获悉， 委内瑞拉遭美军轰炸后，在委内瑞拉中企人员 暂无伤亡情况。 呼吁各方保持克制 据新华社， 欧盟外交与安全政策高级代表卡娅·卡拉斯3日在社交媒体上表示，欧盟正密切关注 委内瑞拉局势，呼吁各方保持克制，在任何情况下都应尊重国际法和《联合国宪章》的原则。 卡拉斯说，她已与美国国务卿鲁 ...

记者丨 崔文静 编辑丨巫燕玲 当前，我国正加速迈向"金融强国"的新征程。作为资本市场的核心中介与关键枢纽，证券行业 被赋予更高期望：不仅要更高效地服务实体经济，还要在全球金融舞台上争取更大话语权。如 何平衡"立足本土"与"竞逐全球"这双重使命，成为券业发展的重要议题。 近日，21世纪经济报道记者专访了中金公司党委副书记、副董事长、总裁王曙光。他明确指 出， 服务国内实体经济与争夺全球金融定价权是"双向赋能"、协同共进的关系。唯有深耕本 土，才能锻造国际竞争的核心能力；同时，只有争取全球定价权，才能反哺国内高质量发展。 面向更宏伟的全球愿景，王曙光认为，中国投行跻身国际一流投行的当务之急在于"锻内功、 转思维"，转向价值创造，全力弥补在深度研究、协同服务、全球风控与高端人才等方面的关 键短板。 尤为值得关注的是，在王曙光看来，中国投行对全球金融秩序更深层次的贡献，并非简单的定 价权争夺，而在于将中国市场实践中形成的、强调金融与实体经济深度融合的"赋能型"发展范 式，以开放合作的姿态贡献于世界，推动全球金融治理体系朝着更加包容、均衡和可持续的方 向演进。这一系列判断，为理解中国券商在新时代的战略定位与转型方向提供 ...

Core Viewpoint - The article discusses the recent implementation of a one-time credit repair policy by the People's Bank of China, which allows individuals with overdue records to have their credit reports updated, effectively removing certain overdue information if specific conditions are met [8][19]. Group 1: Policy Details - The one-time credit repair policy was announced on December 22, 2025, and aims to support individuals with damaged credit who have actively repaid their debts [8]. - The policy applies to overdue information generated between January 1, 2020, and December 31, 2025, with a single overdue amount not exceeding 10,000 RMB [19]. - Individuals must fully repay their overdue debts by March 31, 2026, to benefit from the policy, which will automatically identify and process eligible overdue records without requiring any application [19][21]. Group 2: Impact on Credit Reports - Following the policy's implementation, overdue records that meet the criteria will have their repayment status changed from overdue to normal, and overdue amounts will be adjusted to zero in credit reports [10][19]. - Users have reported that their credit reports reflect these changes, with overdue account numbers and details being cleared [8][10]. Group 3: Benefits and Implications - The policy is designed to alleviate the "credit dilemma" faced by individuals, encouraging them to resolve historical credit issues and restore their financial credibility [23][24]. - It is emphasized that this policy does not erase debt obligations; individuals must still fulfill their repayment responsibilities to benefit from the credit record adjustments [23][24]. - The initiative is expected to improve the relationship between financial institutions and clients, as it encourages individuals to maintain and protect their credit status, ultimately enhancing the overall credit ecosystem [24].

Core Viewpoint - The article discusses the recent updates regarding the sales of Guizhou Moutai's "Flying Fairy" 53% vol 500ml liquor, highlighting changes in purchase limits and market dynamics as the Chinese New Year approaches [1][3][13]. Group 1: Sales Updates - From January 4 until the Spring Festival, the maximum purchase limit for "Flying Fairy" 53% vol 500ml Moutai has been adjusted to 6 bottles per person per day [1]. - On January 1, 2026, the liquor was launched on the iMoutai platform at a price of ¥1499 per bottle, with an initial purchase limit of 12 bottles per person per day, which sold out within half an hour [3][6]. - The sales continued to be strong on January 2, with the product again selling out within half an hour [3]. Group 2: Pricing and Market Dynamics - As of January 3, the wholesale reference price for the 25-year Flying Fairy Moutai was reported at ¥1495 per bottle, a decrease of ¥15 from the previous day [11]. - The original box price was reported at ¥1505 per bottle, down by ¥20 from the previous day [11]. - The price dynamics indicate a significant interest and demand for Moutai, with the market price often differing from the suggested retail price, leading to a "national rush" for the product [13]. Group 3: Consumer Trust and Market Strategy - There has been a growing consumer demand for authentic Moutai, driven by concerns over product authenticity and fair purchasing opportunities [13]. - Moutai's chairman emphasized the importance of consumer-centric strategies and market reforms to ensure fair and reliable access to Moutai products [13]. - The iMoutai platform is seen as a key solution to address the challenges of fair sales and consumer trust in the brand [13].

△1月3日，委内瑞拉遭美国袭击 据央视新闻，总台记者获悉，当地时间1月3日，根据委内瑞拉国家石油公司方面透露，据初步 评估， 委内瑞拉的石油设施在美国的袭击中没有受到打击。 搭上京东方，陕西富豪再闯IPO，公司年入10亿 1499元飞天茅台连续两日秒光，网友：根本抢不到 顶流广东具象化 经济第 大省的流动盛宴 委内瑞拉国家石油公司的高管表示，公司已通知员工，目前石油生产和炼油作业均保持正常运 营。据该高管初步评估，美国发动的袭击未对石油设施造成损害。该高管还透露，委内瑞拉的 拉瓜伊拉港在美国发动的袭击中遭到严重损毁。 3日，美国总统特朗普称，美方已成功对委内瑞拉实施打击，抓获委总统马杜罗及其夫人，并 带离委内瑞拉。 当天稍早时，委首都加拉加斯传出爆炸声，随后响起防空警报。有目击者称，多起爆炸发生在 加拉加斯南部的军事设施附近，据称相关地区已断电。还有消息称，加拉加斯上空有直升机盘 旋，部分地区的电信服务中断。而在加拉加斯传出爆炸声后，委内瑞拉马拉开波一处军事基地 和北部拉瓜伊拉州、米兰达州的机场均传来爆炸声。 委内瑞拉外交部随后发布公告表示，严正拒绝、强烈谴责并向国际社会揭露美国政府对委内瑞 拉领土和人民实施 ...

Core Viewpoint - The article highlights the rise of "instant economy" in Guangdong, driven by emotional experiences and unique moments that enhance consumer spending during events like New Year celebrations [2][10]. Group 1: Economic Impact of Instant Experiences - Guangdong's tourism data shows a significant increase in visitor numbers and revenue during the New Year holiday, with 17.875 million tourists and a revenue of 9.98 billion yuan, reflecting a year-on-year growth of 34.8% and 39.8% respectively [1]. - The search volume for "Guangzhou New Year" increased by 152% since mid-December 2025, indicating heightened consumer interest in festive activities [6]. - The hotel and restaurant sectors experienced a surge in bookings, with a 117% increase in tourism reservations for the New Year period [4]. Group 2: Consumer Behavior and Preferences - Consumers are increasingly willing to pay for experiences that offer emotional value, uniqueness, and social sharing opportunities, driving a shift towards high-quality, experiential consumption [2][10]. - Young consumers, particularly those born after 2000, represent a significant portion of the tourist demographic, with 30% at Zhuhai Changlong Ocean Kingdom and 40% at Guangzhou Changlong Happy World [6]. Group 3: Innovative Offerings and Experiences - Hotels are adapting to the "emotional value" era by offering unique experiences, such as 24-hour stay packages and immersive activities, to enhance guest satisfaction and extend their stay [9][7]. - Various regions in Guangdong are innovating their tourism offerings with unique events and activities, such as the "New Year series" at local attractions, which are designed to attract visitors and enhance their experience [14]. Group 4: Policy and Structural Support - The provincial government is supporting the growth of the instant economy through initiatives like the "Yue Enjoy Warm Winter, Happy Travel Guangdong" campaign, which promotes a comprehensive tourism experience [15]. - The "14th Five-Year Plan" for Guangdong emphasizes the importance of tapping into domestic demand and enhancing service consumption, aligning with the trends observed in the instant economy [15].

Group 1: Economic Activity and Transportation - Guangdong's transportation systems have shown remarkable performance, with Guangzhou Metro achieving a record passenger volume of 14.09 million on New Year's Eve, marking a new high for single-day ridership [1][3] - The total passenger throughput at Guangdong's airports exceeded 180 million in 2025, ranking first in the country, with the airport group surpassing 100 million passengers for the first time [4][8] - The railway system also reported significant growth, with the Guangzhou Railway Bureau sending 2.807 million passengers on New Year's Day, a year-on-year increase of 64.6% [4] Group 2: Infrastructure Development - Guangdong has invested heavily in infrastructure, with the Guangzhou Metro expanding its operational mileage to 779.9 kilometers and Shenzhen's urban rail network surpassing 600 kilometers [6][7] - The high-speed rail network has been enhanced, with new lines connecting major cities, facilitating a "1.5-hour high-speed circle" around the region [7] - The airport infrastructure has also been upgraded, with Guangzhou Baiyun International Airport's capacity increasing to 120 million passengers annually, further enhancing connectivity [8] Group 3: Tourism and Consumer Spending - During the New Year holiday, Guangdong received 17.875 million tourists, with a daily average increase of 34.8%, generating tourism revenue of 9.98 billion yuan, a 39.8% year-on-year increase [10][11] - The region's cultural and tourism activities have become significant drivers of consumer spending, with various events and attractions boosting hotel occupancy and entertainment revenues [9][10] - Guangdong has maintained its position as the top box office market in China, with significant ticket sales during the New Year period, indicating strong consumer engagement in entertainment [9]

Core Viewpoint - Yulong Technology is making a second attempt at an IPO after two and a half years, marking a significant step for its actual controller, Wang Yalong, in expanding his presence in the A-share market [1]. Group 1: Company Overview - Wang Yalong and his wife, Li Hongyan, control 74.16% of Yulong Technology, making them the actual controllers of the company [3]. - Yulong Technology was established in 2014 in collaboration with Lite-On Technology (688150.SH) and Xi'an Yulong [3]. - If the IPO is successful, the Wang couple will control two listed companies in the A-share market [3]. Group 2: Financial Performance - Yulong Technology's revenue from 2022 to the first half of 2025 was 740 million, 698 million, 1.095 billion, and 597 million yuan respectively, while net profits were 66.84 million, 75.72 million, 121 million, and 70.32 million yuan [5]. - The company plans to raise 1 billion yuan through the IPO, a reduction from the 1.5 billion yuan initially targeted in 2023 [5]. - The total assets of Yulong Technology as of June 30, 2025, were approximately 1.489 billion yuan, with a debt ratio of 26.96% [6]. Group 3: Customer Dependency and Profitability - Yulong Technology heavily relies on a single major customer, BOE Technology Group, which accounted for 53.58% of sales in the first half of 2025 [8]. - The company's gross profit margin has declined from 38.36% in 2019 to 22.56% in the first half of 2025, a drop of over 15 percentage points [9]. Group 4: Strategic Developments - Following the announcement of Yulong Technology's IPO, Lite-On Technology is also venturing into high-end electronic materials, focusing on the research and production of quartz fiber electronic cloth [10]. - Lite-On Technology has initiated several new projects, including a 766 million yuan convertible bond issuance aimed at advancing perovskite material production [10]. - Wang Yalong is personally overseeing the new business initiatives at Lite-On Technology, indicating a dual strategy of expanding both Yulong Technology and Lite-On Technology simultaneously [10].

据央视新闻，当地时间1月3日，美国总统特朗普称， 当地时间1月3日上午11时，将在海湖庄 园举行新闻发布会。 特朗普当日表示，美方已成功对委内瑞拉实施打击，抓获委内瑞拉总统马杜罗及其夫人，并带 离委内瑞拉。 特朗普称， 美国已成功对委内瑞拉及其领导人马杜罗总统实施了大规模打击，马杜罗及其妻 子已被抓获并乘飞机离开该国 。此次行动是与美国执法部门联合进行的。后续细节将陆续公 布。 △海湖庄园（资料图） 据新华社援引美国媒体报道， 委内瑞拉总统马杜罗系被美军三角洲特种部队抓获。 报道 称，三角洲特种部队曾于2 0 1 9年执行打死极端组织"伊斯兰国"最高头目阿布·贝克尔·巴 格达迪的任务。 据央视新闻，委内瑞拉副总统德尔西·罗德里格斯1月3日通过国家电视台表示， 委政府不知道 总统马杜罗及其夫人现在何处，"我们要求提供他们活着的证据"。 当地时间1月3日， 委内瑞 拉前内政部长、前国家情报局局长古斯塔沃·冈萨雷斯·洛佩斯在美国对委内瑞拉展开的军事行 动中身亡。 美议员称马杜罗将在美国接受审判 据新华社，美国犹他州共和党籍联邦参议员迈克·李3日通过社交媒体发布消息称，美国国务卿 鲁比奥通过电话告诉他，马杜罗已经被美 ...