Core Viewpoint - The article highlights the growth and strategic direction of Zhongyuan Bank, emphasizing its alignment with the "Six Strong Provinces" initiative in Henan and its commitment to supporting regional economic development through its "Four Banks" strategy [2][4][13]. Group 1: Growth and Development - Since its establishment in 2014, Zhongyuan Bank's total assets have increased from 200 billion to over 1.4 trillion yuan, and its service network has expanded from around 400 branches to cover the entire Henan province [2]. - By the end of June 2025, Zhongyuan Bank had established 168 county-level branches, 87 town-level branches, and nearly 5,000 service points, with mobile banking users reaching 4.19 million, an increase of 763,400 from the previous year [9]. Group 2: Strategic Alignment - The "Six Strong Provinces" initiative includes goals for agriculture, manufacturing, science and education, digital intelligence, transportation, and cultural tourism, which align with Zhongyuan Bank's strategic focus on becoming a government bank, industry bank, citizen bank, and rural revitalization bank [4][12]. - The bank has signed strategic cooperation agreements with nine city governments and has successfully opened provincial social security fund accounts, enhancing its role in local governance and economic support [4]. Group 3: Financial Services and Innovations - Zhongyuan Bank has developed comprehensive financial services tailored to the seven major industrial clusters and 28 industrial chains in Henan, providing support to leading enterprises and their supply chains [5]. - The bank has launched products like "Industry Inclusive Loans" and "Henan Agricultural Loans," with cumulative disbursements of 4.858 billion yuan and 1.089 billion yuan respectively, serving over 90,000 farmers [8]. Group 4: Focus on Technology and Innovation - As of June 2025, Zhongyuan Bank's technology finance loan balance reached 67.58 billion yuan, with 45.30 billion yuan allocated to technology enterprises, reflecting a strong commitment to supporting innovation and technology-driven growth [11]. - The bank has also introduced specialized loans for "specialized, refined, and innovative" enterprises, with cumulative disbursements of 10.715 billion yuan, marking a 29.20% increase from the previous year [11].

主动投案半年后，许海严重违纪违法问题被正式通报。 12月29日，据中央纪委国家监委网站消息，中国工商银行云南省分行原党委书记、行长许海严重违纪违法问题 处分落地。许海被开除党籍，按规定取消其享受的待遇，收缴其违纪违法所得。值得注意的是，现年62岁的许 海已在2023年从工银理财监事长岗位上退休，并于2025年6月被查。 券商中国记者注意到，近日有包括工商银行在内的多家国有大行干部被查消息传出，亦有银行干部处分落地。 12月26日消息，工行云南临沧分行原党委书记、行长赵国明被查；12月25日，工行湖南娄底分行原副行长宋建 华被查；12月24日，工行大连市分行原专家高亚林被开除党籍和公职。农行方面，12月26日，农行资产负债管 理部原总经理王青山被查；12月19日，农行内蒙古自治区分行副巡视员姜文俊被查。 许海被指搞迷信活动、出入私人会所 12月29日，据中央纪委国家监委驻中国工商银行纪检监察组（下称"驻工行纪检监察组"）、贵州省纪委监委消 息：日前，驻工行纪检监察组、贵州省六盘水市监委对工行云南省分行原党委书记、行长许海严重违纪违法问 题进行了立案审查调查。 通报称，经查，许海丧失理想信念、背弃初心使命，对抗组 ...

Group 1 - The core viewpoint of the article is that Russia's Foreign Minister Lavrov announced an attempted drone attack by Ukraine on President Putin's residence, which was thwarted, and Russia is adjusting its negotiation stance in response to Ukraine's actions [1] - Lavrov stated that all 91 drones used in the attack were destroyed, and Russia has identified targets and timing for retaliation [1] - Ukraine's President Zelensky denied any attempt to attack Putin's residence, indicating a divergence in narratives between the two countries [2]

Core Viewpoint - The stock of Upway New Materials has experienced a significant increase, leading to a risk warning from the company due to a disconnection from its fundamental performance, indicating a potential for rapid price decline [1][4]. Group 1: Stock Performance and Risk Warning - On December 29, Upway New Materials' stock surged by 20%, bringing its total market value to 53.3 billion yuan. The stock price has increased by 1598.33% from July 9, 2025, to December 29, significantly outpacing relevant index growth [1]. - The company issued a risk warning stating that the stock price has severely deviated from its current fundamentals, posing a risk of a rapid decline [4][5]. Group 2: Business Operations and Independence - Upway New Materials clarified that it has no plans for a backdoor listing and will operate independently from its controlling shareholder, ensuring no significant adverse impact from related party transactions [2][3]. - The company is focused on developing its embodied intelligent robot business, which is still in the product development stage and has not yet achieved mass production or revenue generation [4]. Group 3: Future Outlook and Investment Risks - The company indicated that the development of new products requires a significant amount of investment and time, with uncertainties regarding successful product launches and market acceptance [4]. - Upway New Materials warned that if the stock price continues to deviate from its fundamentals, it may apply for a trading suspension for further investigation [5].

Core Viewpoint - The Hong Kong stock market is witnessing a surge in new listings, with several companies, including AI-driven biotech firm Insilico Medicine and GPU-focused Bitmain Technology, set to debut soon, indicating a growing interest in innovative technology sectors [1][4]. Group 1: Insilico Medicine - Insilico Medicine's stock price soared by 201% during the dark trading phase, reaching a peak of 72.30 HKD before closing at 36.86 HKD, reflecting a significant market interest [2]. - The company utilizes its proprietary Pharma.AI platform to accelerate drug discovery, integrating AI and automation to address unmet medical needs in areas such as fibrosis and oncology [2][3]. - Insilico's revenue projections show growth from 30.15 million USD in 2022 to 85.83 million USD in 2024, with adjusted net losses decreasing from 70.80 million USD to 22.67 million USD over the same period [3]. Group 2: Other New Listings - Other companies listing on December 30 include Lin Qingxuan, Meilian Holdings, Xunce Technology, Woan Robotics, and Wuyishijie, with notable price movements observed in the dark trading phase, such as Wuyishijie rising over 50% and Meilian Holdings over 30% [3]. - By the end of the dark trading session, Wuyishijie, Meilian Holdings, and Lin Qingxuan recorded increases of 23.54%, 18.31%, and 18.75% respectively, while Xunce Technology and Woan Robotics experienced declines [3]. Group 3: Bitmain Technology - Bitmain Technology is set to become the first GPU company listed on the Hong Kong Stock Exchange on January 2, 2026, with a significant oversubscription of 1,890 times for its public offering, raising approximately 2.43 billion HKD [5][6]. - The company focuses on developing general-purpose graphics processing units (GPGPU) and intelligent computing solutions, which are essential for AI applications [5][6]. - Bitmain's revenue is projected to grow from 500,000 HKD in 2022 to 337 million HKD in 2024, despite facing substantial adjusted net losses [6].

Core Viewpoint - The article discusses the "Justice Mission-2025" military exercise conducted by the Eastern Theater Command, emphasizing it as a necessary action to safeguard national sovereignty and territorial integrity against "Taiwan independence" forces and external interference [1]. Summary by Relevant Sections - **Military Exercise Context**: The "Justice Mission-2025" exercise is a direct response to recent large-scale arms sales to Taiwan by the United States, serving as a warning against "Taiwan independence" and external meddling [1]. - **Political Commentary**: The spokesperson criticizes the DPP government for aligning with external forces, claiming it exacerbates tensions across the Taiwan Strait and undermines peace and stability [1]. - **Call to Action**: The article urges relevant countries to abandon the "using Taiwan to contain China" strategy and warns the DPP that reliance on foreign support for independence will ultimately fail [1].

东部战区新闻发言人施毅陆军大校表示，12月29日开始，中国人民解放军东部战区组织海空兵力实施环 台岛战备警巡，舰机多向抵近台岛邻近海空域，旨在检验战区部队快速机动、立体布势、体系封控能力。 29日晚，中国军号发布军事演习最新画面，解放军无人机视角下的台北101大厦，看视频↓↓ 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 F 责编：刘珺宇 校对： 祝甜婷 百万用户都在看 突发！美国，发动袭击！ 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：0755-83514034 邮箱：bwb@stcn ...

Core Viewpoint - The power sector experienced significant declines, particularly in thermal power stocks, due to downward pressure on long-term electricity prices for 2026, which fell short of market expectations [2][5]. Group 1: Stock Performance - Major thermal power stocks saw substantial declines, with Guodian Power down 7.96%, Anhui Energy down 6.46%, and Huaneng International down 5.07% [2][3]. - Other notable declines included Shanghai Electric and Inner Mongolia Huadian, both dropping over 5% [2]. Group 2: Electricity Price Trends - The long-term electricity price for Guangdong in 2026 was set at 372.14 cents/kWh, a decrease of 19.72 cents/kWh from the previous year, nearing the lower limit of the benchmark price [5]. - In Jiangsu, the average price for January 2026 was 324.71 yuan/MWh, down 19.9% year-on-year, reflecting significant downward pressure on electricity prices in economically developed regions [5]. Group 3: Market Analysis - Analysts suggest that the ongoing market reforms may lead to a gradual increase in electricity prices, with the introduction of capacity pricing mechanisms reinforcing the foundational role of coal power [4]. - Despite the current downward trend, some institutions believe that the electricity market may not be overly pessimistic for 2026, as the government is beginning to focus on stabilizing electricity prices [7]. Group 4: Competitive Landscape - The retail electricity market has seen irrational competition, with companies engaging in aggressive pricing strategies to capture market share, leading to a temporary failure in price discovery [6]. - The introduction of new policies may help mitigate the excessive price competition among retail electricity companies, potentially restoring order to the market [7]. Group 5: Future Outlook - The construction of a new power system under the "dual carbon" goals is expected to rely on enhanced system regulation and support from the government, which may improve the performance of power operators in the future [8].

Core Viewpoint - The article discusses the significant asset restructuring plan of Wukuang Development, which involves acquiring stakes in Wukuang Mining and Luzhong Mining from its controlling shareholder, China Minmetals Corporation, indicating a potential internal business integration within the Minmetals Group [1][2][8]. Group 1: Major Asset Restructuring - Wukuang Development announced plans to purchase stakes in Wukuang Mining and Luzhong Mining from its controlling shareholder, China Minmetals, through asset swaps, share issuance, and cash payments [2]. - The transaction is expected to constitute a major asset restructuring and related party transaction, but will not result in a change of actual control or a restructuring listing [2][3]. - The registered capital for Wukuang Mining is approximately 560.96 million RMB, while Luzhong Mining's registered capital is about 245.84 million RMB [3]. Group 2: Stock Market Reaction - Following the announcement, Wukuang Development's stock price surged, reaching a limit up of 10.03%, closing at 11.52 RMB, with a trading volume of 7.25 billion RMB, significantly higher than the previous trading day [5]. - The stock will be suspended from trading starting December 30, 2025, for a period not exceeding 10 trading days [2][3]. Group 3: Company Background and Financial Performance - Wukuang Development's main business includes resource trading, metal trading, and supply chain services, with key products such as steel, iron ore, and coal [7]. - For the first three quarters of 2025, the company reported revenue of 40.89 billion RMB, a year-on-year decline of 20.42%, and a net profit attributable to shareholders of 114 million RMB, down 16.47% [7]. - The third quarter alone saw revenue of 13.91 billion RMB, a year-on-year decrease of 16.75%, and a net profit of 626 thousand RMB, reflecting a significant decline of 92.68% year-on-year [7]. Group 4: Industry Context - The restructuring is part of a broader trend within China Minmetals Group, which is undergoing internal business integration and optimization of its asset structure, as evidenced by similar moves from other subsidiaries like China Metallurgical Group [8]. - China Minmetals Group, established in 1950, is a major state-owned enterprise with a focus on metal minerals and has a total asset value exceeding 1.3 trillion RMB as of the end of 2024 [8].

Group 1 - The State Council Tariff Commission released the "2026 Tariff Adjustment Plan," which will be implemented starting January 1, 2026, aiming to enhance the linkage between domestic and international markets and expand the supply of quality goods by applying provisional import tariffs lower than the most-favored-nation (MFN) rate on 935 items [1] - To support technological development and the circular economy, new tariff items will include smart bionic robots, bio-aviation kerosene, and forest ginseng, bringing the total number of tariff items to 8,972 [2] - The plan continues to promote economic cooperation with least developed countries (LDCs) by granting zero-tariff treatment on 100% of products for 43 LDCs with which China has diplomatic relations, and implementing preferential tariff rates for certain imports from Bangladesh, Laos, Cambodia, and Myanmar [2] Group 2 - The adjustment aims to promote high-level technological self-reliance and the construction of a modern industrial system by reducing import tariffs on key components and advanced materials such as hydraulic cushions and composite connectors [3] - It also supports the comprehensive green transformation of economic and social development by lowering import tariffs on resource products like regenerated black powder for lithium-ion batteries [3] - The plan emphasizes improving people's livelihoods by reducing import tariffs on medical products such as artificial blood vessels and diagnostic kits for certain infectious diseases [3]