Market Performance - The US stock market continued its post-Christmas pullback, with all three major indices closing lower, marking a subdued end to 2025. The S&P 500 index fell by 0.74% to 6845.5 points, the Nasdaq Composite dropped by 0.76% to 23241.99 points, and the Dow Jones Industrial Average decreased by 0.63% to 48063.29 points [1]. - For the year, the S&P 500 recorded an annual increase of 16.39%, while the Nasdaq managed a 20.36% rise, achieving over 20% growth for three consecutive years. The Dow Jones also rose by 12.97%, marking a similar performance for the third year in a row [3]. Individual Stock Performance - Among the top performers in the S&P 500, four storage giants—SanDisk, Western Digital, Micron Technology, and Seagate Technology—led the annual gains. Semiconductor stocks like Lam Research, AI application leader Palantir, and Comfort Systems, which provides HVAC solutions for data centers, also featured prominently [3]. - In the tech sector, only Google and Nvidia among the "Big Seven" tech companies outperformed the benchmark index in 2025 [8]. Commodity and Sector Movements - US silver futures experienced a significant drop of 9% due to a second margin increase by the CME Group within a week, negatively impacting the mining sector. Companies like Endeavour Silver and Silvercorp Metals saw declines of over 4% and 2.8%, respectively [11]. Chinese Stocks - The Nasdaq Golden Dragon China Index closed down 1.13% but recorded an annual increase of 11.33%. Notable Chinese stocks included Alibaba, which rose over 75%, and Netease, which increased by 58.28% [12]. Corporate News - Warren Buffett officially retired as CEO of Berkshire Hathaway on December 31, 2025, after a long tenure, although he will remain as chairman of the board [13]. - Tesla achieved a milestone with a driver completing a coast-to-coast journey using full self-driving technology, marking a significant advancement in autonomous vehicle capabilities [15]. - Nvidia and AMD are expected to enter a "year-long price increase cycle" for GPUs, driven by rising memory costs, with flagship models potentially reaching prices as high as $5000 [16]. - Trump Media & Technology Group announced plans to issue a new cryptocurrency to shareholders, despite a significant annual decline in stock value [17]. - Brookfield Asset Management is launching a cloud computing business to challenge tech giants like Amazon, aiming to reduce AI development costs [18]. - Uber is in talks to acquire the parking app SpotHero, which could create synergies between ride-hailing and parking services [19].

Core Viewpoint - The public fund industry has witnessed a record-breaking annual return, with Yongying Technology Smart Selection achieving a total return of 233.29%, surpassing the previous record held by Wang Yawei for 18 years [1][6]. Group 1: Fund Performance - Yongying Technology Smart Selection, managed by Ren Jie, secured the top position in the 2025 public fund rankings with a return of 233.29% [3][6]. - The second place was taken by Zhonghang Opportunity Navigation, managed by Han Hao, with a return of 168.92% [3][4]. - The third place was claimed by Hongtu Innovation Emerging Industry, managed by Liao Xinghao, with a return of 148.64% [3][4]. - A total of 90 funds achieved returns exceeding 100% in 2025, with 75 of these being actively managed equity funds, indicating a highly competitive environment [9]. Group 2: Market Trends - The A-share market saw all major indices rise, with the Shanghai Composite Index increasing by 18.41% and the ChiNext Index leading with nearly 50% annual growth [2]. - The total market capitalization of A-shares reached a new high of nearly 109 trillion yuan [2]. - Various sectors experienced active market trends, with robotics, innovative pharmaceuticals, and hard technology sectors leading the charge [2]. Group 3: Fund Management Insights - The success of Yongying Technology Smart Selection is attributed to its concentrated holdings in high-performing sectors, particularly in CPO, with top ten holdings accounting for 73.25% of the fund's net value [8]. - The fund's top four holdings saw significant gains, with the first holding, Xinyi Sheng, increasing by 187.96% in the fourth quarter [8]. - The active management capabilities of funds have allowed them to outperform passive index products in a volatile market [3]. Group 4: ETF Market Developments - The ETF market in China reached a total scale of 6.03 trillion yuan in 2025, marking a significant increase from 3.73 trillion yuan at the beginning of the year [10]. - The top-performing ETFs included the Guotai Communication ETF with a return of 125.81% and the Guotai Communication Equipment ETF with 121.37% [10][14]. - Gold-themed ETFs also performed well, with several funds achieving returns exceeding 90% [12]. Group 5: Fixed Income + Fund Growth - The "Fixed Income +" strategy saw substantial growth, with the total scale of related funds reaching 2.52 trillion yuan, a 50% increase from the end of 2024 [15]. - The median return for fixed income + funds in 2025 was 10.2%, with the top performer, Southern Changyuan Convertible Bond, achieving a return of 48.77% [16][18].

在2025年的结尾， 特斯拉车主大卫·摩斯（David Moss） 实现了一项颇具时代特色的挑战： 坐在他的Model 3里，静静地看着汽车自己从 美国的西海岸开到东海岸，全程不进行任何干预 。 据悉，这也使他成为世界上第一个全程凭借自动驾驶技术横穿美国的人。特斯拉社区为之轰动，也引来特斯拉公司和世界首富马斯克的点 赞。 据摩斯介绍， 他是从加州的特斯拉餐厅出发，最终抵达南卡罗来纳州的默特尔海滩。 整趟行程耗时2天又20个小时，行驶了2732.4英里 （约4397公里）。挑战的关键点在于， 整个过程中完全没有进行任何人工接管，甚至包括在特斯拉超充站里的所有停车 。 作为对比，122年前，汽车行业先驱霍拉肖·杰克逊和苏厄尔·克罗克（以及他们在路上收留的斗牛犬巴德）为了证明汽车不是"昙花一现的 消遣玩物"，驾驶汽车从旧金山颠簸到纽约， 耗时63天成为首批驾车横跨美国的人（和狗） 。 摩斯在一张地图上详细展示了贯穿全美的历程，并列出了近30个超充站的几乎全部停靠信息。 这项长途壮举使用的是本月发布的FSD V14.2.1.25更新，可实现更平顺、更像人类驾驶员的加速和转向操作，但仍需有驾驶员监督。 摩斯的挑战也了却 ...

据央视新闻，当地时间2025年12月31日，著名投资人沃伦·巴菲特正式退休，卸任伯克希尔·哈撒韦首席执行官职务。 准确 快速 权威 专业 7x24h电报 头条新闻 VIP资讯 实时盯盘 下载财联社APP获取更多资讯 ...

根据规定，在每180天内，免签停留时间累计不超过90天，适用于旅游和过境目的。该决定依据土耳其《外国人和国际保护法》第18条作出。 据央视新闻，当地时间12月31日，土耳其《官方公报》发布总统令，宣布自2026年1月2日起，对持中国普通护照的公民实行免签入境政策。 下载财联社APP获取更多资讯 准确 快速 权威 专业 7x24h电报 头条新闻 VIP资讯 实时盯盘 ...

值此辞旧迎新之际，财联社向每一位读者致以最诚挚的新年祝福！愿您与家人在新年里平安喜乐，万事胜意。 2026，与您同行，共赴新程！ 回首2025，我们共同见证了资本市场的跌宕起伏，虽途中偶有波澜，但整体稳健前行，诸多优质企业崭露头角，新兴产业蓬勃发展，为投 资者带来了诸多机遇。这一年，无论是早晨第一条电报的叮咚声、还是深夜研报的灯火，还是市场激荡中的坚守，都是你们与财联社一起执 着奋斗、逐梦前行的生动写照。 新年已至，愿您在2026年事事顺遂，投资有成，生活如诗，事业如虹。财联社将始终以专业为帆，以速度为桨，持续为您提供快速、精 准、专业、极致的财经资讯服务。中国资本市场已形成理性与科技创新双轮驱动格局，定能创造更多价值、攀登新高度。愿您在新的一年， 以耐心为舟，以远见为帆，在时间的复利中，收获丰厚的财富硕果。 ...

Group 1 - The article emphasizes the necessity of integrating liquid cooling solutions in humanoid robots due to the presence of numerous heat-generating components within their chests, highlighting a company with automotive thermal management technology as having a significant technical advantage [1] - It points out that there is still room for improvement in the safety of humanoid robots, with the potential for the addition of electronic skin that mimics human touch, identifying a listed company as one of the leading firms in the electronic skin sector [1] - The core bottleneck for mass production of humanoid robots is identified as the dexterous hand, with tendon-driven mechanisms being one of the two major technological trends, and two companies are noted to have a first-mover advantage in this area, likely benefiting from the upcoming production wave [1]

Core Viewpoint - Zhongwei Company (688012.SH) announced plans to acquire a 64.69% stake in Hangzhou Zhonggui through a combination of share issuance and cash payment, while also raising funds from up to 35 specific investors [1] Group 1: Acquisition Details - The target company specializes in the research, production, and sales of Chemical Mechanical Polishing (CMP) equipment, which is a core component of wet processing technology [1] - The acquisition will enable Zhongwei Company to enhance its capabilities by integrating "etching + film deposition + measurement + wet processing," marking a significant transition from "dry processing" to a comprehensive solution that includes both dry and wet processes [1] Group 2: Market Position - Hangzhou Zhonggui is one of the few domestic companies that has mastered the core technology of 12-inch high-end CMP equipment and has achieved mass production [1] - This strategic move positions Zhongwei Company to strengthen its market presence and technological edge in the semiconductor equipment industry [1] Group 3: Stock Information - Zhongwei Company's stock is set to resume trading on January 5, 2026, following a suspension that began on December 31, 2025 [3]

中国代表呼吁相关国家切实遵守《外空条约》义务，对本国商业航天活动加强监管。 据CCTV国际时讯，当地时间12月29日，中国代表在低地球轨道卫星问题安理会阿里亚模式会议上发言时表示， 个别国家的商业卫星星座肆意扩 张，缺乏有效监管，带来显著安全挑战。 以"星链"为例， "星链"在轨卫星超1万颗，曾两次迫近中国空间站致紧急避碰，近期一颗解体产生100多枚碎片，严重威胁缺乏控轨能力的 发展中国家航天器。 此外，一些低轨卫星星座无视相关国家法律规定，在他国上空和边界私自开通信号服务，成为干预他国内政的工具。 在非洲萨赫勒、南亚及东南亚地区，"星链"被暴恐分子、分离势力以及电诈集团大量使用，带来监管和执法难题。 ...

以下文章来源于创业板观察 ，作者林嘉豪、沈娇娇 创业板观察 . 创业板观察致力于发布深交所创业板的市场发展、政策变化、监管导向、上市企业动态等的及时信息，提供有价值的市场资讯。 近日，"泡泡玛特开始五折甩卖了"登上热搜。受产能增长并大规模补货影响， 泡泡玛特（09992.HK）多款热门产品二手市场价格快速下 降，部分二手产品价格已跌破官方发售价。 以热度较高的前方高能系列搪胶毛绒挂件（简称"前方高能"）为例，得物APP数据显示，6月14日，前方高能系列单个盲盒成交均价达到峰 值639.3元，溢价5.5倍；同日，隐藏款"本我"成交均价亦达到峰值4522.5元，溢价44.7倍。618大促期间多轮预售之后，二手前方高能价 格"跳水"，伴随之后的多次补货，价格不断下跌。 截至12月31日，其单个盲盒成交均价为116.1元，隐藏款"本我"成交均价为569.9元， 分别较峰值下跌81.8%和87.4%。 图片来源：得物APP截图 其他二手交易平台同样如此。千岛APP显示，前方高能大部分款式二手价格已经跌破官方发售价99元。闲鱼APP上，前方高能端盒成交均价 为459.9元，仅为官方发售价格的77.4%。 图片来源：闲鱼A ...