Core Viewpoint - Iran is facing a severe economic crisis characterized by a historic low of the Iranian rial at 42,125 rials per US dollar and a rapid inflation rate of 42.2% as of December, leading to widespread protests and civil unrest [1][4]. Group 1: Economic Situation - The Iranian rial has depreciated significantly, reaching its lowest value against the US dollar, which has contributed to economic chaos and financial distress for households [1][4]. - Inflation in Iran has accelerated to 42.2%, exacerbating the economic challenges faced by the population [1]. - The Iranian economy is grappling with soaring inflation, a collapsing currency, stagnant GDP growth, and capital flight due to US sanctions [4][6]. Group 2: Protests and Civil Unrest - Protests have erupted in Tehran and other cities, with demonstrators expressing their frustration over rising inflation and the currency crisis [2][3]. - The protests have spread to multiple cities, including Mashhad, Kermanshah, and Hamedan, with participants engaging in confrontations with security forces [3]. - Merchants in Tehran have vowed to extend their strikes, indicating a sustained wave of civil disobedience against the government [3]. Group 3: Government Response - Iranian President Ebrahim Raisi has stated that the government is prioritizing economic reforms and dialogue with protesters, emphasizing the importance of citizens' livelihoods [5]. - The resignation of the Central Bank Governor has been reported, with indications that the government is seeking to respond to public discontent and stabilize the situation [6]. - Raisi's administration is under pressure to demonstrate responsiveness to societal demands amid ongoing economic difficulties and protests that have persisted since 2017 [6].

据路透社12月29日报道，美国国防部当天发布声明称，波音公司获得总价值86亿美元的F-15战机采购合同，涉 及美国对外军售，用于向以色列交付战机。 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 责编：汪云鹏 校对： 盘达 看券商中国 知天下财经 百万用户都在看 刚刚，飙涨201%！ 刚刚发布！2026，重大利好！ 市值腰斩！巴菲特"踩雷"，给我们敲响什么警钟？ 独家揭秘！新股未上市先套现，中签之前也能买卖！ F 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 五角大楼表示，该合同包括为以色列空军完成25架新型F-15IA战斗机的设计、系统集成、仪表配备、测试、生 产及交付工作。以色列方面同时获得增购25架同型战机的选择权。合同相关工程将在美国密苏里州圣路易斯进 行，预计将于2035年12月31日前完成。 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 ...

Core Viewpoint - The speech by Chairman Wu Qing emphasizes the responsibilities and missions of the securities industry during the "14th Five-Year Plan" period, outlining a strategic blueprint for high-quality development in the financial sector [1][10]. Group 1: Four Major Missions and Five Points of Hope - The securities industry must prioritize functionality, focusing on three main areas: supporting the development of new productive forces, assisting in wealth growth for residents, and promoting high-level openness [1][2]. - The company aims to align with the "4+1" important requirements and the "132" overall work deployment, striving to become a first-class provincial securities institution that matches Zhejiang's economic status [1][2]. Group 2: Building a First-Class Modern Investment Bank - The establishment of a first-class modern investment bank is essential for the company's high-quality development, with a focus on differentiated development paths and leveraging advantages in niche markets [3][7]. - The company plans to create three distinctive brands: "Sci-Tech Investment Bank," "State-Owned Assets Investment Bank," and "Common Prosperity Investment Bank," while enhancing collaboration among its subsidiaries [3][7]. Group 3: "Four-Type" Strategic Path - The "Four-Type" strategy includes: 1. "Sci-Tech Type" focusing on serving the real economy and new productive forces, managing over 120 billion yuan in industry funds and facilitating nearly 160 billion yuan in social investment [4]. 2. "Service Type" aimed at better serving investors and optimizing asset allocation, with a strong emphasis on inclusive finance and wealth management [5]. 3. "Platform Type" promoting high-level institutional openness by connecting with global Zhejiang chambers of commerce and establishing a collaborative ecosystem [6]. 4. "Reform Type" focusing on key elements such as party building, culture, talent, digital intelligence, and supervision to support the transition to a financial powerhouse [6][9]. Group 4: "Five-Transformation" Strategic Tasks - The company will implement "Five-Transformation" tasks to create a new paradigm for mid-sized securities firms, including: 1. Developing a more distinctive operational model by collaborating with local governments and establishing technology finance service centers [7]. 2. Enhancing comprehensive service capabilities centered around customer needs, transitioning to a customer-centric service model [8]. 3. Expanding international operations to support enterprises going global, leveraging overseas subsidiaries for cross-border financial services [8]. 4. Advancing digital finance initiatives to improve core competitiveness through AI integration [9]. 5. Strengthening group governance to maximize overall value through collaborative efforts across various business units [9].

从评价对象来看，本次参评券商包括2024年1月1日至12月31日开展股票保荐、债券承销、并购重组财务顾问和 全国股转公司（北交所）相关投行业务的93家证券公司，仅开展持续督导业务的证券公司未纳入评价范围。 12家券商获评A类 2025年证券公司投行业务成绩单发布。 中国证券业协会12月30日发布的《2025年证券公司投行业务质量评价结果》显示，共有12家券商获评A类，其 中，华泰联合、中信证券连续四年为A类。同时，有66家券商获评B类，15家获评C类。 C类券商有15家，包括德邦证券、恒泰长财、华林证券、华西证券、开源证券、申万宏源、世纪证券、天风证 券、天府证券、万联证券、五矿证券、西南证券、中山证券、中天国富、中原证券等。 | 序号 | 公司名称 | | 2025年分类 2024年分类 变化 | | | --- | --- | --- | --- | --- | | 1 | 东吴证券 | A | B | 1 | | 2 | 国要证券 | A | B | 1 | | 3 | 国泰海通 | A | | | | ব | 国投证券 | A | B | 1 | | ട | 国信证券 | A | B | 1 | | ...

Core Viewpoint - The article discusses the implementation of the "Two New" policy for 2026, which focuses on large-scale equipment updates and the trade-in of consumer goods, highlighting the support range, subsidy standards, and implementation mechanisms [1][3][4]. Group 1: Policy Support Range - The 2026 policy continues to support vehicle scrapping and replacement subsidies, as well as the trade-in of household appliances, specifically targeting six categories: refrigerators, washing machines, televisions, air conditioners, computers, and water heaters [1][3]. - The scope of digital product subsidies has been expanded to include smart products such as smartphones, tablets, smartwatches, smart glasses, and smart home devices [1][3][8]. - Additional support for equipment updates includes the installation of elevators in old residential areas, equipment updates in elderly care institutions, and safety-related equipment such as firefighting and inspection devices [3][5]. Group 2: Subsidy Standards - The subsidy standards for equipment updates have been optimized, with residential elevator updates shifting from fixed subsidies to tiered subsidies based on the number of floors [4]. - For scrapping old trucks, priority will be given to those replaced with electric trucks [4]. - The subsidy for household appliances will be 15% of the product price for energy-efficient or water-efficient products, with a maximum subsidy of 1,500 yuan per item [6][9]. Group 3: Implementation Mechanisms - The policy aims to streamline the project application and review processes, lowering the investment threshold for project applications and increasing support for small and medium-sized enterprises [4][5]. - The funding distribution method will be optimized, and measures will be taken to combat fraudulent claims and ensure uniform subsidy standards across the country [4][9]. - The policy emphasizes the importance of aligning with the construction of a unified national market, ensuring consistent implementation of subsidies for vehicle scrapping, household appliances, and digital products [4][9].

Core Viewpoint - The precious metals market has experienced a significant downturn after a period of rapid growth, driven by regulatory tightening, crowded trades, and a reversal in market sentiment [2][4]. Group 1: Market Performance - On December 30, the domestic futures market saw a sharp decline, with platinum and palladium futures hitting the limit down, both dropping by 13% [2]. - Gold and silver also faced substantial corrections, with silver dropping by 6% and copper falling over 4% [2]. - Internationally, precious metals faced a "Black Monday," with silver experiencing a drop of over 10%, marking the largest single-day decline since 2021 [4]. Group 2: Causes of Decline - The recent downturn is attributed to a combination of regulatory measures, crowded trading positions, and a shift in market sentiment rather than a single negative trigger [2][4]. - The Chicago Mercantile Exchange's announcement to raise margin requirements for various metal contracts has forced traders to increase cash holdings, leading to reduced positions and subsequent price declines [5]. - Analysts noted that the price increases in platinum and palladium had become detached from short-term fundamental support, indicating a technical overbought condition [4]. Group 3: Market Outlook - Despite the short-term volatility, the mid-term bullish logic for precious metals remains intact, although the previous strong upward trend has been disrupted [10]. - The market is expected to enter a period of wide fluctuations, with key support levels identified at 570 yuan per gram for platinum and 440 yuan per gram for palladium [10]. - Investment strategies are shifting from aggressive to defensive, with recommendations for existing investors to reduce positions and lock in profits, while new investors are advised to wait for clearer trends [10][11].

Group 1 - The article discusses a military operation conducted by the U.S. Southern Command, which targeted a vessel allegedly controlled by a designated terrorist organization involved in drug trafficking [1] - The operation resulted in the death of two individuals described as "drug terrorists," with no U.S. personnel casualties reported [1] - The U.S. has recently increased its military presence in the Caribbean near Venezuela under the pretext of drug enforcement, despite lacking evidence to substantiate claims of drug-related activities by the targeted vessel [1] Group 2 - The article highlights that Venezuela is not a primary source of drugs entering the U.S., according to recent reports from the U.S. Drug Enforcement Administration [1] - Venezuela has accused the U.S. of using military threats to instigate regime change and expand its military influence in Latin America [1]

12月30日，券商中国记者获悉，原公募基金行业知名基金经理王宗合于2025年12月29日病逝。 公开资料显示，王宗合，中国人民大学金融学硕士，拥有17年证券从业经验，职业生涯起步于招商基金，负责 食品饮料、商业零售、农林牧渔等多个行业的研究工作。2009年5月，他加入鹏华基金，继续从事食品饮料、 农林牧渔、商业零售、造纸包装等行业研究，历任研究员、基金经理助理。2010年12月起，他正式任基金经 理，担任基金经理时间超过12年，他还历任副总裁、权益投资二部总经理、稳定收益投资部总经理，是公司投 资决策委员会成员。 Wind数据显示，王宗合曾管理过21只公募基金产品，管理规模一度超过500亿元。2023年上半年，他陆续卸任 全部在管产品。 2024年2月，王宗合因个人身体原因离任公司副总经理职位。 责编：战术恒 排版：汪云鹏 校对： 盘达 百万用户都在看 直线拉升，20%涨停！一则消息，突然引爆！ 刚刚，飙涨201%！ 市值腰斩！巴菲特"踩雷"，给我们敲响什么警钟？ 独家揭秘！新股未上市先套现，中签之前也能买卖！ 刚刚！2000亿"绞肉机"突袭！"牛市"缘何突然变脸？ 违法和不良信息举报电话：0755-8351 ...

12月30日，外交部发言人林剑主持例行记者会。 法新社记者提问，您昨天提到解放军台海军演是对外部势力行动的回应。美国总统特朗普最近批准了向台湾出 售价值110亿美元的武器，他还表示这些演习并不令他担忧，并称这只是中国过去几十年来一直在做的事情。 中方对此有何回应？ 林剑表示，台湾是中国领土不可分割的一部分。中国人民解放军开展有关军事演习，是对"台独"分裂势力"以 武谋独"的严厉惩戒，是捍卫国家主权和领土完整的必要行动。 来源：外交部网站 F 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权 , 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 看券商中国 知天下财经 责编：汪云鹏 校对： 盘达 百万用户都在看 突发 ...

Macro Dynamics - The National Development and Reform Commission and the Ministry of Finance announced a policy to support the scrapping and updating of vehicles starting in 2026, providing subsidies for consumers who scrap their old cars and purchase new energy vehicles or fuel vehicles with a displacement of 2.0 liters or less. The subsidy for new energy vehicles is 12% of the purchase price (up to 20,000 yuan), while for fuel vehicles, it is 10% (up to 15,000 yuan) [2] Aviation Industry - Hainan's three major airports achieved a record annual passenger throughput of over 50 million for the first time, marking a significant milestone in the development of Hainan's aviation sector amid the accelerated construction of the Hainan Free Trade Port [3] Automotive Industry - China's share of the global automotive market reached 40% in November 2025, an increase of 1 percentage point from the previous year. The market share for 2024 is projected to be 34.2%, and for the first 11 months of 2025, it is expected to be 35.4%, reflecting a growth of 1.2 percentage points [5] Aerospace Industry - The first aircraft of China's self-developed commercial unmanned transport system, the HH-200, has been assembled and is entering the airworthiness certification stage, indicating a breakthrough in low-altitude logistics and unmanned transport technology [6] Financial Institutions - Citic Bank's Executive Director and President, Lu Wei, resigned due to work adjustments, and Fang Heping has been appointed to assume the role of President [7] - The former Party Secretary and President of the China Industrial and Commercial Bank's Zibo branch, Wang Shiming, is under investigation for serious violations of discipline and law [8] Market Data - As of December 29, the financing balance of the two markets increased by 8.346 billion yuan, with the Shanghai Stock Exchange reporting 1.273965 trillion yuan and the Shenzhen Stock Exchange 1.252865 trillion yuan [11] - The Hang Seng Technology Index rose by 1.74%, with Baidu Group increasing by nearly 9% [12] Company Dynamics - He Xiaopeng stated that true fully autonomous driving will arrive in 2026, skipping L3 and moving directly from L2 to L4, with the Ultra version of Xiaopeng's vehicles expected to achieve this capability [13] - Changjiang Electric Power announced a mid-term profit distribution plan for 2025, proposing a cash dividend of 2.10 yuan per 10 shares, totaling 5.138 billion yuan [14] - Baiwei Storage plans to acquire 0.8446% of Niu Xin Semiconductor's shares for 20 million yuan, indicating a strategic investment in high-speed interconnect technology [15][16]