Core Viewpoint - The company emphasizes the importance of intelligent transformation across various industries, leveraging its technological advancements and partnerships to enhance user experience and operational efficiency in the new smart era [1][4]. Group 1: Achievements in 2025 - The company assisted operators in building 5G-A networks, providing high-speed network connectivity to 60 million users [2][3]. - The HarmonyOS ecosystem has accelerated from "usable" to "user-friendly," with over 36 million devices running HarmonyOS 5.0 and above [2][3]. - Collaborated with automotive partners to equip over 1.4 million passenger vehicles with intelligent driving capabilities, achieving nearly 7 billion kilometers of assisted driving mileage [3]. Group 2: Strategic Focus for 2026 - The company aims to strengthen vertical industry operations, utilizing its "mixed bag" advantage to facilitate intelligent transformation across various sectors [4]. - Plans to build an open-source ecosystem around Kunpeng and Ascend, enabling partners to develop products that meet diverse industry needs and promote the accessibility of cluster and super-node technologies [4]. - The "water strategy" will enhance pipeline flow, integrating AI into communication networks to transition from connectivity to "smart connectivity" [4]. Group 3: Future Vision - The company envisions a future where intelligent transformation reshapes production and lifestyle, with advancements in terminal intelligence, autonomous driving, and AI integration into core business processes [3][4]. - The focus will be on enhancing consumer experiences within the Harmony ecosystem, ensuring a prosperous AI experience for end-users [4]. - The company is committed to restructuring AI data centers to maximize output efficiency and improve charging experiences through liquid cooling and ultra-fast charging technologies [4].

Global Economic Outlook - The global economic growth rate is expected to remain stable, with a slight slowdown from 2.8% in 2025 to 2.7% in 2026, influenced by geopolitical tensions and trade fragmentation [4] - Strong investment in artificial intelligence is anticipated to support investment and trade growth over the next two years [2][4] Trade Dynamics - Global goods and services trade is projected to grow by 3.8% in 2025, accelerating from 3.0% in 2024, but is expected to slow to 2.0% in 2026 due to various factors including reduced consumer spending in the U.S. [5] - Tariff uncertainties have decreased, yet trade policies and geopolitical risks continue to pose challenges [5] Asian Export Resilience - Despite fluctuations in tariff risks, Asia's overall export performance has exceeded expectations, remaining stronger than other regions [6] - The export growth rate in Asia is expected to slow in 2026 but will still outperform the global average [7] China's Economic Strategy - In 2026, China will focus on expanding domestic demand as a key policy priority, with structural reforms and increased openness to foreign investment [2][8] - The "15th Five-Year Plan" emphasizes improving the household consumption rate, which was 39.9% in 2024, as a critical goal for high-quality development [8] Investment and Fiscal Policies - Fixed asset investment is expected to recover, particularly in infrastructure, supported by new policy financial tools [9] - The fiscal deficit target for China in 2026 is likely to remain at 4%, with local government bonds issued to support consumption and major projects [9] Innovation and Competitiveness - Innovation capability is projected to become a core advantage for China, attracting foreign investment and enhancing service trade exports [12] - The government aims to regulate supply-side competition to ensure efficient resource allocation and promote fair competition [10][11]

2021年，陈伟俊调任新疆维吾尔自治区党委常委、政府常务副主席、党组副书记。 2025年11月30日，中央纪委国家监委网站发布消息，陈伟俊涉嫌严重违纪违法，目前正接受中央纪委国 家监委纪律审查和监察调查。 据《新疆日报》报道，12月29日，新疆维吾尔自治区第十四届人民代表大会常务委员会第二十六次会议 通过决定，免去陈伟俊的新疆维吾尔自治区人民政府副主席职务。 同时，新疆维吾尔自治区人大常委会公告（第76号）显示，拜城县人大常委会决定罢免陈伟俊的新疆维 吾尔自治区第十四届人民代表大会代表职务。依照有关规定，陈伟俊的新疆维吾尔自治区第十四届人民代 表大会代表资格终止。 陈伟俊出生于1966年6月，浙江宁海人，曾任湖州市市长，湖州市委书记，浙江省副省长、温州市委书 记，浙江省委常委、温州市委书记等职。 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：0755-83514034 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 ...

Core Viewpoint - The robotics sector is experiencing a resurgence, driven by potential government support and significant developments in humanoid robotics technology [2][4]. Group 1: Market Performance - On December 30, the robotics sector saw a strong performance with a surge in stock prices, including a 30% increase for Tianming Technology and multiple stocks reaching their daily limit or increasing over 10% [1][4]. - By midday, 18 stocks in the robotics sector had either hit their daily limit or increased by more than 10%, indicating a strong market interest [1]. Group 2: Government Support and Industry Developments - The U.S. government, under the Trump administration, is considering an executive order on robotics to be released in 2026, signaling a strategic focus on robotics following advancements in artificial intelligence [4]. - The U.S. Department of Commerce is actively engaging with robotics industry CEOs to accelerate development, highlighting the importance of robotics in the U.S. technology strategy [4]. Group 3: Supply Chain and Market Anticipation - There are rumors of suppliers visiting North America, suggesting that the Tesla Optimus project is nearing contract awards, which is generating market excitement [2][4]. - The collaboration between JD.com and Yushutech to open a physical store for humanoid robots is expected to enhance consumer engagement and commercial viability [4]. Group 4: Industry Growth and Production Trends - According to Zhongyuan Securities, China's industrial robot production is on the rise, with a reported 20.6% year-on-year increase in production for November 2025, and a cumulative production increase of 29.2% from January to November [5]. - The robotics industry is emerging from a three-year adjustment period, with production growth indicating a cyclical recovery [5]. Group 5: Technological Advancements in Humanoid Robotics - The Tesla Gen3 humanoid robot is approaching mass production, with significant improvements in its capabilities, including stable movement on complex surfaces [7]. - Elon Musk has reiterated the goal of starting large-scale production in 2026, focusing on overcoming key challenges such as dexterous hands and advanced AI capabilities [7]. Group 6: Investment Opportunities - The value creation in the robotics sector is increasingly concentrated in upstream core components, which account for nearly 70% of the value, particularly in precision manufacturing of motors and gear systems [8]. - The market is also showing interest in advanced technologies such as dexterous hands and 3D vision sensors, which are critical for enhancing robot functionality and environmental perception [8].

中央农村工作会议29日至30日在北京召开。会议以习近平新时代中国特色社会主义思想为指导，深入贯 彻党的二十大和二十届历次全会精神，全面贯彻习近平总书记关于"三农"工作的重要论述和重要指示精 神，落实中央经济工作会议精神，分析当前"三农"工作面临的形势和挑战，部署2026年"三农"工作。 党中央高度重视这次会议。会前，中央政治局常委会会议就开好这次会议、做好"三农"工作提出明确要 求。 习近平强调，各级党委和政府要坚持把解决好"三农"问题作为重中之重，坚持五级书记抓乡村振兴，奋发 进取、真抓实干，努力把农业建成现代化大产业、使农村基本具备现代生活条件、让农民生活更加富裕美 好。 中共中央总书记、国家主席、中央军委主席习近平对做好"三农"工作作出重要指示。习近平指出，2026 年是"十五五"开局之年，做好"三农"工作至关重要。要坚持以新时代中国特色社会主义思想为指导，深入 贯彻党的二十大和二十届历次全会精神，锚定农业农村现代化，扎实推进乡村全面振兴，推动城乡融合发 展。要毫不放松抓好粮食生产，促进良田良种良机良法集成增效，提升农业综合生产能力和质量效益。要 提高强农惠农富农政策效能，促进粮食等重要农产品价格保持在 ...

12月30日，智能体创业公司Manus宣布即将加入Meta。Manus将继续通过APP和网站为用户提供产品和 订阅服务，同时公司将继续在新加坡运营。Manus首席执行官肖弘表示："携手Meta使我们能够在不改变 Manus运作方式和决策机制的前提下，在更强大、更可持续的基础上发展。"根据12月初统计的数据，上 线至今，Manus已处理超过147万亿个token，并创建了超过8000万台虚拟计算机。 另据晚点LatePost报道，Meta以数十亿美元收购开发AI应用Manus的公司蝴蝶效应。这是Meta成立以来 第三大收购，花费仅次于WhatsApp和Scale AI。在Meta收购前，Manus正以20亿美元估值进行新一轮 融资。收购完成后，蝴蝶效应公司将保持独立运作，创始人肖弘出任Meta副总裁。 真格基金合伙人刘元通过真格基金官微发文祝贺。"属于中国这一代年轻创业者的时代，已经到来。"刘元 写道："从2016年的一场黑客松，到2025年末新年钟声敲响前夕，从'小插件'到Manus，从夜莺科技到 蝴蝶效应——真格基金陪伴肖弘和他的团队走过了整整十年。刘元还透露，"Meta创始人扎克伯格告诉肖 弘，自己其实是 ...

Core Viewpoint - The year 2025 marks a significant transformation for actively managed equity funds, driven by the AI revolution, leading to a structural market trend and unprecedented performance for public funds, with nearly 80 funds achieving over 100% returns [1][2]. Group 1: Fund Performance and Management - The top-performing fund, Yongying Technology Smart Selection A, managed by Ren Jie, achieved a cumulative return of 240.56%, surpassing the second-place fund by over 60 percentage points, and breaking the 17-year record previously held by Huaxia Large Cap Select Mixed A [1]. - The fund's inception was on October 30, 2024, with an initial size of approximately 10.32 million yuan, which grew to 11.52 billion yuan by the end of Q3 2025, showcasing its transformation from a "seed product" to a market sensation [4]. - Ren Jie’s investment philosophy emphasizes deep research, focusing on dynamic changes in industries and companies, and maintaining a flexible investment framework to capture opportunities in both performance and valuation [2][6]. Group 2: Investment Strategy and Market Trends - Ren Jie transitioned from a traditional investment approach to one that embraces emerging industry trends, allowing for better identification of cross-industry investment opportunities, particularly in AI and related sectors [6][7]. - The fund's strategy involved a significant shift to overseas AI computing chains in Q2 2025, driven by positive signals from major companies and optimistic capital expenditure guidance from tech giants [4]. - The investment philosophy is built on three pillars: research-driven decision-making, focusing on changes in performance and valuation, and a flexible response to market conditions [6][7]. Group 3: Future Outlook and Market Dynamics - Looking ahead to 2026, the AI-driven industrial transformation is expected to remain a core market opportunity, with a shift from liquidity-driven optimism to fundamental verification [8]. - Ren Jie identifies key investment opportunities in the cloud computing sector and core areas like optical communication and PCB, which are expected to benefit from the ongoing AI wave [8]. - The current A-share market reflects a profound change in driving logic, with internal economic dynamics becoming the main force behind market growth, supported by technological innovation and a shift in asset allocation towards equity markets [10].

名正而后言顺。距离2026年3月31日ETF简称统一规范的最终节点仅余约三个月，这场为万亿资产"正名"的浪潮，正悄然重塑着资本市场的信任地基。它预示 着，一个以规范为底色、以投资者体验为核心的高质量发展新时代正加速到来。 中国ETF市场的发展，始终镌刻着创新与规范的双重印记。自2004年国内首只ETF问世开启指数化投资序幕，二十余年里市场完成了从起步探索到高速扩容的蜕 变：从最初的寥寥数只产品、不足百亿规模，成长为如今超1380只产品构成的多元生态，总规模突破6万亿元，ETF已成为资本市场不可或缺的核心基础设施。 在指数化投资迈向高质量发展的关键节点，监管层及时亮剑。2025年11月，沪深交易所正式出台ETF命名新规，明确存量产品需在2026年3月31日前完成调整，核心 遵循"投资标的核心要素+ETF+管理人名称"的统一结构。 紧随监管步伐，12月30日，行业头部机构易方达基金发布公告，宣布变更旗下45只ETF简称，调整将于2026年1月5日生效。至此，易方达基金成为行业首家完成旗 下全部ETF简称调整的基金公司，全部117只ETF简称均按照"投资标的核心要素+ETF+管理人名称"标准格式统一命名。这一举措既 ...

元旦假期即将到来，股市休市，闲钱放着也是闲着，利用闲钱来赚钱啦！ 所谓每逢节日发红包，受流动性影响，节假日资金价格可能走高，操作一把国债逆回购这个无风险收益，算是股民的一个小 福利。 结合今年元旦放假安排，今日（12月30日）就是操作国债逆回购的最佳时点之一。12月30日当天，只需投资1天期逆回购就可 以赚到5天的利息，而且资金在2026年1月5日开盘前即可取出。 躺赚5天利息 今年元旦一共放假3天，2026年1月5日（周一）股市正常开市。在本周二之前，投资者操作国债逆回购即可获得元旦假期期间 利息。对于国债逆回购，这次投资者只要操作得当，最高可获得相当于投资期限5倍的收益。也就是借出1天期的国债逆回 购，就可以赚取5天的利息。 | 操作日期 | 品种期限 | 计息天数 | 资金可用 | 资金可取 | | --- | --- | --- | --- | --- | | 12月 29 日 | 2 天期 | 6天 | 2025 年 12月 31 日 | 2026 年 01 月 05 日 | | (星期一) | 3/4/7 天期 | 7天 | 2026 年 01月 05 日 | 2026年01月06日 | | 12 ...

Core Viewpoint - The precious metals market experienced a significant downturn, referred to as "Black Monday," with sharp declines in gold, silver, and palladium prices, driven by margin increases and profit-taking by traders [2][4][12]. Group 1: Market Performance - Precious metals saw a drastic drop, with COMEX gold futures falling 4.45% to $4,350.2 per ounce, COMEX silver futures plummeting 7.2% to $71.64 per ounce, and palladium dropping over 15% [4][7]. - The U.S. stock market also reflected this downturn, with major silver mining stocks like Harmony Gold and Pan American Silver dropping over 5% [7][9]. Group 2: Causes of Decline - The primary trigger for the price drop was the Chicago Mercantile Exchange's announcement to raise margin requirements for various metal contracts, aimed at addressing market volatility [9][12]. - A rumor regarding a major bank facing a margin call due to significant short positions in silver futures added to market anxiety, suggesting potential systemic risks [10][11]. Group 3: Market Sentiment and Future Outlook - Analysts noted that the recent surge in silver prices, which had increased nearly 150% this year, was unsustainable, leading to profit-taking and subsequent price corrections [12][13]. - There is a divide among analysts regarding future silver prices, with some predicting a decline to around $42 per ounce by year-end, while others, like economist Peter Schiff, foresee prices potentially exceeding $100 per ounce [13][14].