中国资本市场最大收购案（草案）出炉。中国神华（601088.SH/01088.HK）董事会通过公司重组报告书。 公司拟通过发行股份及支付现金方 式收购控股股东国家能源集团及其全资子公司西部能源持有的12家标的公司相关股权，总交易对价高达1335.98亿元。 本次交易中整体发行股份购买资产支付和现金支付比例为30%和70%。本次交易完成后，中国神华的煤炭保有资源量将逼近700亿吨大关， 产业链协同效应得到强化，进一步巩固其全球综合能源上市公司的龙头地位。 值得注意的是， 本次交易金额超过了中国船舶（600150.SH）1151.50亿元吸收合并中国重工以及国泰君安（601211.SH）换股吸收合并海通证券976 亿元的交易金额，成为A股市场最大的收购案。 较预案少收一家公司 现金支付占比七成 中国神华本次交易的标的资产阵容庞大，涵盖了煤炭开采、坑口煤电、煤化工、港口航运等能源产业链的核心环节。具体标的包括：国源电 力100%股权、新疆能源100%股权、化工公司100%股权、乌海能源100%股权、平庄煤业100%股权、神延煤炭41%股权、晋神能源49%股 权、包头矿业100%股权、航运公司100%股权、煤炭运销公 ...

Core Insights - The company has launched a new generation GPU architecture named "Huagang" which features a new instruction set and enhances computing density by 50% [1] - The energy efficiency of the new architecture has improved by 10 times, integrating full-precision end-to-end acceleration technology [1] - The architecture supports large-scale intelligent computing clusters with over 100,000 cards and includes the first generation of AI generative rendering architecture and the second generation of ray tracing hardware acceleration engine [1]

12月20日，截至发稿，老凤祥黄金足金饰品报1362元/克，较昨日上涨6元/克；老庙黄金足金饰品报1361元/克，较昨日上涨5元/克；周生生 足金饰品报1359元/克，较昨日上涨4元/克。 ...

Core Viewpoint - Beijing Tongrentang issued an apology regarding the recent public concern over "Antarctic krill oil," acknowledging the damage caused to consumer rights and expressing sincere regret [1] Group 1: Company Actions - The company initiated a zero-tolerance brand management action, deploying a special task force to Sichuan for a comprehensive investigation of the involved products [2] - The company ordered and supervised the immediate removal of the implicated products by the distributor Sichuan Health, ensuring compliance with regulatory requirements for consumer compensation [3] - Legal actions will be pursued against Sichuan Health, Habao Pharmaceutical, and related e-commerce platforms for trademark infringement and misleading consumers, holding them accountable for their actions [3] Group 2: Consumer Rights Protection - To further protect consumer rights and strengthen brand protection responsibilities, the company is conducting a thorough investigation into illegal and irregular brand usage across its subsidiaries [4] - A comprehensive brand cleanup initiative is underway to eliminate improper use of the "Tongrentang" name and ensure strict brand management practices [5] - The company is standardizing the branding of authorized e-commerce platform stores, ensuring the correct use of the "Tongrentang" double-dragon logo to guide consumers in identifying legitimate purchasing channels [6]

Core Viewpoint - The article highlights the resurgence of AI-related stocks, driven by strong performances from Oracle and Nvidia, leading to a collective rise in major stock indices for two consecutive trading days [1][5]. Market Performance - The Dow Jones Industrial Average rose by 0.38% to close at 48,134.89 points, the S&P 500 increased by 0.88% to 6,834.50 points, and the Nasdaq Composite gained 1.31% to reach 23,307.62 points [3]. - For the week, the S&P 500 saw a slight increase of 0.1%, the Nasdaq rose by 0.5%, while the Dow Jones fell by 0.7% [5]. - Oracle's stock price surged by 6.6% following news of TikTok forming a new joint venture in the U.S. with Oracle, Silver Lake, and MGX [5]. - Other AI-related stocks, including Nvidia and Palantir, also experienced an approximate 4% increase [6]. - Micron Technology continued its upward trend with a 7% rise, following a previous 10% increase due to strong revenue guidance for the current quarter [7]. - Nike's stock plummeted over 10% after the company projected a decline in sales [8]. Notable Company News - Morgan Stanley is reportedly in a strong position to lead the underwriting for SpaceX's IPO, with a close relationship to CEO Elon Musk, although the final decision on the lead underwriter has yet to be made [10]. - Google is actively rehiring former employees to strengthen its AI team, with about 20% of the AI software engineers hired in 2025 being "boomerang employees," a significant increase compared to previous years [11][12]. - Nine pharmaceutical companies have reached agreements with President Trump to lower drug prices for certain groups in exchange for a three-year tariff grace period, with 14 out of 17 companies initially targeted agreeing to the terms [13][14].

冬至前夕，天气阴冷，进入淡季的北京旧机动车交易市场（花乡二手车市场）依然作为行业"晴雨表"而备受业界关注。 记者在花乡二手车市场注意到，不论是BBA，亦或是特斯拉、蔚小理、鸿蒙智行为代表的新能源车品牌车型，均被置于各大二手车商门口等 醒目位置。相比之下，角落里的小米SU7 Ultra却似乎并非主销车型。与此同时，市场内的小米SU7车源也凤毛麟角，小米YU7更是无处可 寻。 相较市场商户对小米二手车的"爱恨交加"，年末的花乡二手车市整体虽有回暖，但在购置税即将调整为减半征收、2026年补贴政策暂未出 炉之际，"薄利卖车、见好就收"依旧为二手车市场内的"统一法则"。 "从上个月开始就算淡季了，不过今年底看车买车的人明显比去年要多。"另一位二手车商称，即便如此，尽快回笼资金仍是经营者的第一要 务。 中国汽车流通协会建议，二手车经销商建立动态调整机制，针对保值率波动较为明显的品牌，应采取快进快出的策略，缩短库存周期，及时 止损。"要密切关注新能源车的置换需求，特别是新能源准新车板块的市场动态。" "现在（小米SU7二手车）的情况是收一台卖一台，很多人都提前预约了车源，所以不用刻意宣传，很好卖。" 一位主营劳斯莱斯、宾 ...

据CCTV国际时讯， 多 家美媒近日报道，以色列情报部门和军方于今年6月暗杀伊朗重要核专 家的行动细节被披露。 报道称， 以色列情报分析人员列出了伊朗100名最重要的核科学家名单，随后将目标缩减至大约12 人，利用数十年的间谍活动获取了他们的工作、行踪等个人信息 ，并在6月实施一系列空袭暗杀 行动。以色列称，在6月13日及随后几天内，他们共暗杀了约10名伊朗高级核科学家。 分析认为，以色列的计划是对整个伊朗核项目进行战略性打击，而不只是清除个别科学家。但 暗杀行动也导致了平民丧生， 报道显示，5次 针对伊朗 核科学家的袭击已造成71名平民伤亡，其 中包括许多儿童。 ...

据介绍， LightGen可完整实现"输入—理解—语义操控—生成"的闭环 ，完成高分辨率 （≥512×512）图像语义生成、3D生成（NeRF）、高清视频生成及语义调控，同时支持去噪、 局部与全局特征迁移等多项大规模生成式任务。 "LightGen为新一代光计算芯片助力前沿人工智能开辟了新路径，也为探索更高速、更高能效 的生成式智能计算提供了新的研究方向。"陈一彤说。 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 实时盯盘 VIP资讯 据新华社，记者从上海交通大学获悉， 该校科研人员近日在新一代光计算芯片领域取得突破，首次 实现了支持大规模语义媒体生成模型的全光计算芯片。 相关成果12月19日发表于《科学》杂志。 据了解，随着深度神经网络和大规模生成模型迅猛演进带来超高算力和能耗需求，传统芯片架 构的性能增长速度已出现严重缺口，光计算等新型架构受到广泛关注。 "所谓光计算，可以理解为，不是让电子在晶体管中运行，而是让光在芯片中传播，用光场的 变化完成计算。光天然具备高速和并行的优势，因此被视为突破算力与能耗瓶颈的重要方 向。"论文作者、上海交大集成电路学院助理教授陈一彤表示， ...

Core Viewpoint - Three A-share listed companies received administrative penalty notices from regulatory authorities for financial fraud, raising market concerns [1] Group 1: Guizhou Bailin - Guizhou Bailin reported false records in its annual reports for 2019, 2020, 2021, and 2023, leading to a warning and a change in stock designation to "ST Bailin" with a trading limit of 5% [2] - The company was found to have understated sales expenses, resulting in an inflated profit of 654.726 million yuan from 2019 to 2021, and overstated sales expenses in 2023, reducing profit by 459.411 million yuan [2] - Guizhou Securities Regulatory Bureau proposed a fine of 10 million yuan for the company and a total of 15.6 million yuan for 10 responsible individuals, with a 10-year market ban for one individual [2] Group 2: Funu Dongfang - Funu Dongfang received an administrative penalty notice for false records in its annual reports for 2020 and 2021 [5] - The company was involved in a scheme that inflated profits by 35.798 million yuan in 2020, which was 120.18% of the reported profit, and reduced profits by 22.651 million yuan in 2021, accounting for 6.64% of the reported profit [6] - The stock designation will change to "ST Funu" with a trading halt for one day starting December 22, 2025 [7] Group 3: ST Yuanzhi - ST Yuanzhi was penalized for false records in its annual reports from 2019 to 2022, with a fine of 6 million yuan imposed [10] - The company falsely recognized sales revenue from elevator sales using forged acceptance certificates, inflating revenue by 123.238 million yuan in 2019, 66.226 million yuan in 2020, and 138.250 million yuan in 2021 [11] - The company also inflated revenue by 9.148 million yuan in 2021 from a lease agreement that was never executed, leading to a profit inflation of 8.482 million yuan, which was 62.47% of the reported profit [12]

Core Viewpoint - China Shenhua (601088.SH) announced plans to acquire 100% equity stakes in multiple subsidiaries from the State Energy Group for a total transaction price of 133.598 billion yuan, enhancing its core business capacity and resource reserves while optimizing its industrial layout [1][4]. Group 1: Transaction Overview - The transaction involves issuing A-shares and cash payments, with a payment structure of 30% in shares and 70% in cash, totaling 93.519 billion yuan in cash [1][5]. - The acquisition includes 12 target companies across coal, coal power, and coal chemical sectors, which will improve the company's core business capacity and resource reserves [1][5]. - The total assets of the acquired assets are valued at 233.423 billion yuan, with a net asset value of 87.399 billion yuan [5]. Group 2: Resource and Earnings Impact - Post-transaction, the coal reserves will increase to 6.849 billion tons, a growth rate of 64.72%; the recoverable coal reserves will rise to 3.45 billion tons, a growth rate of 97.71%; and coal production will reach 512 million tons, a growth rate of 56.57% [2][6]. - The basic earnings per share for 2024 will increase to 3.15 yuan, enhancing by 6.1%, and for the first seven months of 2025, it will rise to 1.54 yuan, enhancing by 4.4% [2][6].