Market Overview - The South Korean Composite Stock Price Index opened higher, reporting 5171.85 points, an increase of 1.71% from the previous close of 5084.85 points [2][3] - The trading volume reached 68.79 million shares, with a market capitalization of 961.35 trillion won for Samsung Electronics and 593.32 trillion won for SK Hynix [3][4] Key Stock Performances - LG Energy Solutions surged over 7.47%, while Hyundai Motor and Samsung Electronics also saw gains of 2.56% and 1.82% respectively [4] - SK Hynix met two-thirds of NVIDIA's HBM4 demand, indicating strong performance in the semiconductor sector [4] Pricing Trends - Samsung and SK Hynix have doubled the prices of low-power DRAM supplied to Apple compared to the previous quarter, with increases exceeding 80% and approximately 100% respectively [4] - This price hike reflects a shift in Apple's procurement strategy due to supply constraints, potentially impacting future negotiations [4] Trade Relations and Economic Impact - Former President Trump threatened to impose tariffs on South Korean imports due to unmet agreements, which could weaken the competitiveness of South Korean exporters in the U.S. market [5][6] - The potential tariffs may particularly affect the automotive sector, raising concerns about the ability of South Korean chip manufacturers to receive favorable treatment under U.S. semiconductor tariff frameworks [6] Japanese Market Update - The Nikkei 225 index fell below 53,000 points, declining by 0.74%, with significant drops in automotive and pharmaceutical stocks, including Toyota and Mazda, both down over 3% [7][8] - The Bank of Japan's meeting minutes indicated a consensus among members to continue a loose monetary policy, even if interest rates are raised in the future [8]

Group 1 - The article discusses measures to reduce the cost of land for elderly care services and to activate existing space, as announced by the Ministry of Natural Resources, the Ministry of Civil Affairs, and the National Health Commission [2] - There is a push to expand inclusive elderly care service supply, requiring new urban and residential projects to include elderly care facilities according to planning standards [2] - The measures support mixed-use land development and allow for the construction of non-independent elderly care facilities alongside other buildings [2] Group 2 - Non-profit elderly care institutions will have their land preserved and allocated according to law, with exemptions from land transfer fees [2] - For profit-oriented elderly care land, flexible models such as long-term leasing and "rent first, transfer later" will be implemented, allowing land transfer fees to be paid over two years [2] - The article encourages the renovation or addition of elderly care and integrated medical facilities on small plots of land in urban areas, as well as adjustments to building density and height for non-profit elderly care facilities [2] Group 3 - In rural areas, priority will be given to utilizing idle collective construction land for building elderly care facilities [2] - The three departments will promote innovative resource supply models to meet the demand for new business formats like hot spring health care and forest health care [2] - Elderly care facility land will be included in the natural resource management and land space planning, with dynamic supervision to ensure land use changes are not made without legal procedures [2]

Core Viewpoint - The article emphasizes the importance of a clear and systematic approach to wealth management, particularly in the context of "stable" investment options, urging investors to find products that align with their individual needs and risk profiles [1][17]. Group 1: Product Ecosystem - The company aims to create a comprehensive and layered "fixed income +" product ecosystem, moving beyond just offering popular products to providing a range of clearly defined solutions that cater to different investor profiles [1][5]. - The "fixed income +" product series is designed to resonate with investors seeking stability, featuring distinct investment strategies and representative products across various risk-return coordinates [3][5]. Group 2: Product Styles and Performance - The product styles include "Low Valuation Value," "Balanced Stable," "Balanced Active," and "Active Growth," each with specific representative products and fund managers [4][6]. - For "Low Valuation Value" investors, products like 汇添富添添乐双盈债券 and 汇添富添添乐双鑫债券 have shown significant returns, with net value growth of 5.79% and 5.94% respectively, outperforming their benchmarks [6][7]. - The "Balanced Stable" product, 汇添富鑫享添利六个月持有混合, achieved a return of 5.35% with a maximum drawdown of -0.81%, making it a strong choice for conservative investors [9][10]. - The "Active Growth" product, 汇添富双利增强债券, reported a net value increase of 15.86%, significantly exceeding its benchmark of 4.25%, ranking in the top 6% among similar products [11][12]. Group 3: Systematic Advantages - The company leverages a vertically integrated research and investment system, which enhances its capabilities in the "fixed income +" sector by applying its expertise from equity investments [13]. - An open and collaborative research culture between fixed income and equity teams fosters a deeper understanding of corporate value and enhances macro asset allocation perspectives [14]. - The company emphasizes a stable product system with clear risk-return characteristics, ensuring that fund managers are matched with products that align with their strengths and client needs [15].

Core Viewpoint - The China Fund Industry Association has released a benchmark library to standardize the selection and use of performance comparison benchmarks for public funds, aiming to enhance comparability among fund products and guide industry practices [2][6][7]. Summary by Sections Benchmark Library Overview - The benchmark library includes operational guidelines and categorizes stock indices into two tiers, with major indices like the CSI 300 and CSI A500 included in the first tier, while others like the SSE 180 and CSI 2000 are in the second tier [2][7]. Key Regulations - The guidelines aim to address industry issues such as "ambiguous benchmarks," "style drift," and "fund blind boxes," ensuring that fund managers select benchmarks that accurately represent their investment strategies [6][7]. Selection and Categorization of Indices - The first tier of the benchmark library consists of widely recognized indices that reflect market performance, while the second tier includes indices with significant usage and market capitalization, serving as a supplement to the first tier [11][12]. Dynamic Management of the Benchmark Library - The library will be dynamically updated and managed to ensure the objectivity and fairness of the benchmarks, with an expert working group established to evaluate and decide on the inclusion and adjustment of benchmark elements [14][16]. Encouragement of Compliance and Quality - The guidelines also set requirements for index providers to enhance their service quality, including governance, compliance, and transparency in index maintenance [16].

Group 1: Currency Market Dynamics - The US dollar index experienced a significant drop, reaching a near four-year low, influenced by Japan's finance minister reaffirming US-Japan coordination, which led to a short-term rise in the yen [4][5] - The dollar has weakened for four consecutive trading days, reflecting investor caution due to the unpredictability of US policies, including President Trump's threats regarding Greenland [6][7] - Analysts suggest that structural issues such as declining confidence in US trade and security policies, political polarization, and concerns over the Federal Reserve's independence may further depress the dollar [6][7] Group 2: US Stock Market Performance - The US stock market showed a stark contrast, with the Dow Jones Industrial Average dropping nearly 500 points, while the Nasdaq index rose approximately 1% and the S&P 500 increased by about 0.5% [9][10] - The decline in the Dow was primarily driven by a nearly 20% drop in UnitedHealth Group, which projected its first annual revenue contraction in over 30 years, raising concerns about the impact of proposed federal Medicare payment rate adjustments [10] - In contrast, technology stocks surged, with Micron Technology leading the gains after announcing a $24 billion investment in Singapore to expand manufacturing capabilities, expected to create around 1,600 jobs [11][12][13] Group 3: Precious Metals Market - Both gold and silver prices in the London spot market saw significant increases, with gold rising by 1.55% and silver by 3.93%, although COMEX silver futures experienced a notable decline of 6.31% [15]

Group 1 - The Nipah virus outbreak in India has raised attention, particularly in the stock market, with related concept stocks experiencing significant gains. Companies like Capbio and Da'an Gene have seen consecutive price increases [2] - The Nipah virus primarily spreads through direct contact with infected animals, patients, and contaminated materials, with a low survival rate in the environment. The outbreak is mainly concentrated in West Bengal, India, which does not border China, minimizing the impact on China [2] - Early detection of the Nipah virus is crucial for clinical intervention and public health measures, as the incubation period ranges from 3 to 14 days, and initial symptoms resemble those of influenza [2] Group 2 - Several A-share listed companies have disclosed their technology and product layouts related to Nipah virus testing. For instance, Wanfu Bio has launched various forms of Nipah virus nucleic acid test kits compatible with their molecular POCT platform [4] - Shengxiang Bio has actively engaged with local health authorities in India to address the outbreak, developing corresponding detection solutions based on their fluorescence PCR technology [4] - Capbio has developed a nucleic acid test kit for the Nipah virus, providing essential technical support for global quarantine and disease control monitoring [6] Group 3 - Some A-share companies have clarified their positions regarding the Nipah virus, stating they do not have relevant business layouts. For example, Hualan Biological announced that it primarily manufactures human vaccines and does not have products for Nipah virus prevention [7] - Other companies like Yirui Bio, Renhe Pharmaceutical, and CanSino have also confirmed through investor interactions that they do not have related products [7]

Core Viewpoint - The controlling shareholder of Pian Zai Huang plans to increase its stake in the company for the first time, indicating confidence in the company's future development and long-term investment value [2][6]. Group 1: Shareholder Actions - The controlling shareholder, Zhangzhou Jiulongjiang Group, intends to increase its holdings from February 1, 2026, to July 31, 2026, with a total investment of no less than 300 million yuan and no more than 500 million yuan [7]. - This share buyback will be executed through the Shanghai Stock Exchange's trading system without a set price range, depending on stock price fluctuations and overall market trends [7]. - Currently, Jiulongjiang Group holds 50.97% of Pian Zai Huang's total share capital [7]. Group 2: Market Performance - Pian Zai Huang's market value has fallen below 100 billion yuan for four consecutive trading days, reaching levels not seen since July 2020 [10]. - In 2025, while the Shanghai Composite Index rose by 18.41%, Pian Zai Huang's stock price declined by 20.04% [11]. - For the first three quarters of 2025, Pian Zai Huang reported revenue of 7.472 billion yuan, a year-on-year decrease of 11.93%, and a net profit of 2.129 billion yuan, down 20.74% [11]. - The company's cash flow from operating activities saw a significant decline of 62.53% year-on-year [11].

巅峰对话 投资热点说 ETF风向标 IPO情报站 fe o 1 ■ a a - 444 and 4 4 CHINAFUND CHINAFUND CHINAFUND CHINAFUND 开盘速递 港股日报 全球早班车 数说人物 √ � [ 8 a 4 a g a d 4 4 4 CHINAFUND CHINAFUND CHINAFUND CHINAFUND ●微信搜一搜( 〔 〔 中国基金报 〕即刻获取财经资讯 公开简历显示， 包惠，女，汉族，1963年8月生，云南宣威人，1983年6月加入中国共产 党，1984年7月参加工作，西南交通大学管理科学与工程专业毕业，研究生学历，管理学博 士，高级会计师。 她曾任 达州市委书记、市长， 达州市委书记， 四川省人大常委会副主任等职，2022年任 成 都市人大常委会党组书记、主任，2025年卸任。 ■ 中国基金报内容矩阵 ■ 来源： 中央纪委国家监委网站 中央纪委国家监委网站1月27日消息， 四川省成都市人大常委会原党组书记、主任包惠涉嫌 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。 包惠（资料图） les & FR 点击下载中国基金报客户端 ...

【导读】金盘科技拟筹划发行 H 股并在港交所上市，最近半年累计涨幅超 150% 中国基金报记者 邱德坤 1 月 27 日晚间， 金盘科技 发布公告称，公司启动境外发行股份（ H 股）并在港交所上市的相关筹备工作。 拟港股 IPO 推进国际化战略 1 月 27 日收盘，金盘科技股价报 97.37 元 / 股，总市值为 447.7 亿元。截至 2025 年 9 月 30 日，公司股东人数约为 1.49 万户。 在 2025 年第三季度业绩说明会上，金盘科技披露其 2025 年前三季度的主营业务收入为 51.55 亿元，其中，外销业务收入为 15.90 亿 元，占主营业务收入的 30.85% 。 1 月 27 日，金盘科技董事会审议通过议案，授权公司管理层启动 H 股上市的相关筹备工作，授权期限自本次董事会审议通过议案之日起 12 个月内。 公告显示，金盘科技筹划 H 股上市是为了持续推进国际化战略和全球化布局，加速推进海外业务的拓展进程，同时搭建国际化资本运作平 台，增强境外融资能力，不断深化和提升综合竞争实力。 金盘科技专注于中低压各类变压器系列、成套系列、储能系列等产品的研发、生产及销售，已经与通用电气、西门 ...

一直声称自己身体健康的特朗普在采访中断言，感觉自己的状态和40年前一样。 据报道，特朗普上周将左手上的瘀青归因于在瑞士达沃斯世界经济论坛年会期间撞到了桌 子。 自一年前重返白宫以来，特朗普多次被拍到手上有瘀青，他通常会用化妆品遮盖。白宫方面 则解释说，这些瘀青是由于握手过多造成的。 去年夏天，白宫发布了一份医疗报告，指出特朗普患有慢性静脉功能不全，这是一种老年人 的常见疾病，但报告结论是他"身体健康"。 les & FR 点击下载中国基金报客户端 来源：参考消息 据埃菲社1月26日报道，美国总统特朗普为自己在内阁会议上闭眼的行为辩解说，会议"极 其无聊"，但他同时保证自己听到了全部内容。 特朗普在接受《纽约杂志》网站采访时透露了这一信息。该媒体26日发表了一篇关于他健 康状况的报道。由于特朗普手上出现瘀青，以及在一些公开场合被拍到打瞌睡，他的健康状 况日益受到关注。 报道称，79岁的特朗普在被问及为何在内阁会议上闭眼时表示："会议极其无聊。"但他坚 称自己听到了每个人说的每一个字。 他解释说："我在房间里走来走去，这里有28个人。上次会议开了3个半小时。我不得不站 在一边听，同时挥挥手，让大家知道我在认真听。 ...