Core Viewpoint - The Shanghai Consumer Protection Commission has taken action against a product labeled as "99% high-purity Antarctic krill oil" from Beijing Tongrentang, revealing significant discrepancies between the product's claims and its actual content [1][4]. Group 1: Product Misrepresentation - A product marketed as having a phospholipid content of 43% was found to contain no actual Antarctic krill oil, indicating a serious misrepresentation [5]. - The product's promotional materials claimed high purity and quality, including statements like "1 capsule ≈ 100 krill," which were proven to be misleading [4][5]. Group 2: Company Accountability - The manufacturer, Anhui Habao Pharmaceutical Co., admitted that the product did not contain the advertised Antarctic krill oil and that the procurement price was significantly lower than normal [5]. - Beijing Tongrentang (Sichuan) Health Pharmaceutical Co. distanced itself from the issue during discussions, claiming ignorance of the alleged fraudulent activities [5][6]. Group 3: Regulatory Response - The Shanghai Consumer Protection Commission has urged Beijing Tongrentang (Sichuan) to conduct a self-examination, apologize to consumers, and recall the problematic products [6]. - The commission has also notified relevant regulatory authorities in Sichuan to monitor the situation closely [6]. Group 4: Legal Actions - Following the incident, Beijing Tongrentang Health Pharmaceutical Co. announced that it would take legal action against the involved parties for unauthorized use of its brand name and to protect consumer rights [11].

Core Viewpoint - The investment strategy for 2026 emphasizes "growth momentum and value reconstruction dividends" in both the Hong Kong and A-share markets, with a focus on structural opportunities and long-term development while downplaying short-term economic fluctuations [2][3]. Group 1: Hong Kong Market Insights - The chief strategist believes that patience and a steady approach are essential for Hong Kong investments in 2026, with excess returns expected from the AI wave and a favorable macroeconomic environment due to anticipated interest rate cuts by the Federal Reserve [3]. - The macroeconomic outlook for 2026 includes an expected improvement in nominal GDP growth and moderate inflation recovery, indicating that the Chinese economy will present structural opportunities for the stock market [3][4]. - Key investment opportunities identified include sectors benefiting from the AI wave, military technology, energy technology, and new consumption driven by the "14th Five-Year Plan" [4]. Group 2: A-share Market Insights - The A-share market is expected to benefit from limited negative external shocks, a global AI industry trend, and a favorable liquidity environment, which will support market performance in 2026 [5]. - Internal factors such as the recovery of nominal GDP growth and price increases are anticipated to improve corporate earnings, which are seen as a major highlight for the market [5]. - The shift in industry performance from a "淘汰赛" (elimination race) to a "竞速赛" (speed race) is expected as more sectors enter a recovery phase, with a focus on high-growth industries [5][6]. Group 3: Investment Themes and Strategies - Key investment themes for 2026 include focusing on industries aligned with trends in AI, new energy, military, and innovative pharmaceuticals, as well as sectors benefiting from price recovery and global competitiveness [6]. - The low interest rate environment is expected to enhance the strategic value of high-yield assets such as insurance, banking, and energy [4]. - The selection of individual stocks may shift from stable dividend payers to those with strong free cash flow as overall corporate earnings become more elastic [6].

12月19日至21日，紫荆文化集团主办的首届香港国际AI艺术节将在香港会议展览中心举行， 主题为"预见未来：现实与无界"，灵心巧手将赴港参展。 【导读】灵心巧手参展首届香港国际AI艺术节，公司联合创始人苏洋称，"机器人将走进千家 万户" 中国基金报记者 卢鸰 "只要全行业一起努力，全面降低成本，机器人就能进入千家万户。"在首届香港国际AI艺术 节即将开幕之际，灵心巧手（北京）科技有限公司联合创始人苏洋在接受中国基金报记者采 访时表示。 灵心巧手成立于2023年7月，是全球具身智能领军企业，系全球唯一实现高自由度灵巧手千 台量产的企业，占据该领域80%以上市场份额，被评为"中国最具投资价值机器人公司TOP 20"。 目前，围绕"灵巧手+云端智脑"，灵心巧手已经形成了"灵巧手－具身数据采集系统－灵巧操 作模型"研发体系，覆盖助老、康养、美妆、医疗康复、教育培训、工业自动化等多个领域。 苏洋认为，三年内灵巧手价格将降至500元以下。 在国外，一只灵巧手要卖到110万元—160万元，但现在灵心巧手已经做到同类型同参数的灵 巧手价格只要5万元。目前，公司产品在中国市场的占有率超过80%，全球市场接近50%。 "如果灵巧 ...

Core Viewpoint - The U.S. labor market shows signs of weakness with November non-farm payrolls increasing by 64,000, which is better than the expected 45,000, but the unemployment rate unexpectedly rose to 4.6% from 4.4% in October, indicating ongoing volatility in the job market [1]. Group 1: Employment Data - November non-farm employment increased by 64,000, surpassing expectations, while October saw a decline of 105,000, marking the largest drop since the end of 2020 [1]. - The unemployment rate rose to 4.6% in November, higher than the anticipated 4.5%, reflecting challenges in the job market as layoffs increase and many unemployed individuals struggle to find new jobs [1]. Group 2: Federal Reserve Response - The Federal Reserve has cut interest rates for the third consecutive time, with Chairman Powell indicating this is to support a "gradually cooling" labor market and acknowledging "significant" downside risks [1]. - Analysts suggest that the recent employment data, despite being better than expected, may not significantly alter market expectations for further rate cuts, as the data is influenced by special circumstances such as the government shutdown [9]. Group 3: Market Reactions - Following the release of the employment report, U.S. stock futures initially surged but later retraced gains, while the dollar remained weak [3]. - Market participants continue to bet on the Federal Reserve making two rate cuts in 2026, indicating a cautious outlook on the economy despite the recent employment figures [9]. Group 4: Analyst Perspectives - Analysts express caution regarding the employment data due to potential distortions from the government shutdown, suggesting that the Federal Reserve may not place significant weight on this report [9]. - There is a consensus among some analysts that the labor market is cooling, which may support further monetary easing, with expectations that the number of rate cuts next year could exceed the one currently indicated by the Fed's dot plot [11].

来源：长安街知事、 中央纪委国家监委网站 12月16日，中央纪委国家监委网站发布消息， 江西省政协原党组成员、副主席胡幼桃严重违 纪违法被开除党籍。 据"江西发布"微信公众号16日消息，近日，江西省委常委会召开会议，通报中央纪委国家监 委给予胡幼桃开除党籍处分和取消享受待遇的决定。与会同志一致表示，坚决拥护党中央和 中央纪委国家监委对胡幼桃的处理决定， 一定引以为戒、汲取教训，切实筑牢拒腐防变的坚 固防线。 江西省委书记尹弘主持会议。 会议指出，党中央决定给予胡幼桃开除党籍处分，按规定取消其享受的待遇，收缴其违纪违 法所得，将其涉嫌犯罪问题移送检察机关依法审查起诉，所涉财物一并移送，充分彰显了以 习近平同志为核心的党中央持之以恒推进全面从严治党、把党的自我革命进行到底的坚定决 心和坚强意志，深刻体现了我们党坚持反腐败无禁区、全覆盖、零容忍的一贯立场， 再次释 放了违纪违法没有安全地带、一朝腐败必将终身追责的强烈信号。省委坚决拥护党中央的处 理决定。 会议强调，全省各级党组织和广大党员干部要深入学习贯彻习近平总书记关于党的自我革命 的重要思想，深刻汲取胡幼桃严重违纪违法案教训，反躬自省、警钟长鸣，纵深推进全面从 ...

【导读】布伦特原油失守 60 美元关口 中国基金报记者 忆山 高波表示，总体看，原油市场仍然供应过剩，长期仍然承压，但短期跌至低位，不排除地缘 和宏观仍存反复的可能。 福能期货表示，尽管委内瑞拉地缘局势紧张，但市场预计美国原油库存将继续增长，且原油 供应过剩风险仍存，叠加乌克兰在加入北约方面态度有所软化，国际油价下跌。预计 INE 原 油将偏弱震荡，后续需关注地缘局势发展和本周美国库存数据指引。 本周以来，油价跌势延续。 12 月 16 日，布伦特原油期货失守 60 美元关口，为 5 月以来首次。截至发稿，报 59.75 美元 / 桶。 | 布伦特原油主连 | | | | | 57 Q | | | --- | --- | --- | --- | --- | --- | --- | | | | BRNOW | | | | | | 59.75 | | 最高 60.13 | 昨结 60.30 | | 量 28205 | | | -0.55 -0.91% 最低 59.75 | | | 持仓 56.82万 | | | | | 分时 | 日K | 1分 | 5分 15分 更多』 | | 目列 (o) | | | 60.8 ...

Core Viewpoint - The passing of Wang Xiaojun, a significant shareholder of Wangzi New Materials, has led to the inheritance of his shares by his children, which may impact the company's ownership structure and control dynamics [2][8]. Shareholder Changes - Wang Xiaojun held 11.2504 million shares, which are now inherited by his son Wang Xiaolong (5.6252 million shares, 1.47% of total shares) and daughters Wang Dan and Wang Xiaojie (each holding 2.8126 million shares, 0.74% of total shares) [5][8]. - Prior to this inheritance, none of the three children held any shares in the company [5]. - Following this change, the controlling shareholders of the company are reduced from four to three, with the combined shareholding of Wang Jinjun, Wang Wujun, and Wang Juan decreasing from 35% to 32.05% [7][8]. Company Financial Performance - Wangzi New Materials reported a revenue of 1.566 billion yuan for the first three quarters of the year, reflecting a year-on-year increase of 19.35% [10]. - The net profit attributable to the parent company was 17.6962 million yuan, showing a year-on-year growth of 37.36% [10]. Market Position - As of December 16, the stock price of Wangzi New Materials was 15.13 yuan per share, with a total market capitalization of 5.78 billion yuan [12]. - The company is involved in various sectors, including plastic packaging, military electronics, and film capacitor businesses, indicating a diversified operational focus [10].

Core Viewpoint - The strong stock price surge of Zhonggong Education (002607.SZ) is closely linked to the launch of its AI learning headset "AI Primary School Bean" and the accompanying content platform "Learning Bean Listening Exam" mini-program, indicating heightened investor expectations for the company's smart transformation [1][5]. Group 1: Product and Market Strategy - The AI learning headset has been validated in a small-scale trial, demonstrating market demand with its lightweight design and fragmented learning approach [3]. - The launch of the mini-program enhances the content ecosystem supporting the hardware, transforming the headset into a "personal mobile learning center" with features like step-by-step listening plans for exams [3]. - The combination of hardware and content could allow Zhonggong to tap into broader lightweight learning needs and potentially explore subscription service models [3]. Group 2: Strategic Transformation - The stock price increase reflects market recognition of Zhonggong Education's strategic shift from being a "course provider" to a "learning + employment solution operator" [5]. - By offering affordable hardware to lower learning barriers and using the mini-program for user retention and data accumulation, the company aims to enhance user engagement and possibly expand into other exam categories [5]. - Industry experts caution that the synergy between hardware and content needs long-term validation, with market focus shifting to user activity, headset repurchase rates, and actual conversion rates post-surge [5]. Group 3: Market Trends - The recent surge in Zhonggong's stock price signifies a revaluation of new business models in vocational education, with the potential to unlock the fragmented learning market [5]. - The strategic exploration of "integrated hardware and software" aligns with the industry's trends towards intelligence and personalization, garnering early attention from the capital market [5].

来源：新华社 在"十四五"即将收官、"十五五"新程待启的关键时点，2025年12月10日至11日召开的中央 经济工作会议备受瞩目。 当前经济形势怎么看？"十五五"新开局重点任务如何推进？聚焦舆论关注的热点问题，中央 财办有关负责同志会后第一时间接受中央主要媒体采访，深入解读中央经济工作会议精神。 问：2025年我国交出怎样的经济"成绩单"？明年经济形势如何? 答： 中央经济工作会议对今年经济工作进行全面总结，指出2025年是很不平凡的一年，我国 经济顶压前行、向新向优发展，展现强大韧性和活力。 一是运行总体平稳、稳中有进。 主要经济指标符合预期，预计全年经济增长5%左右、继续位 居世界主要经济体前列，经济总量有望达到140万亿元左右。就业总体稳定，外贸较快增长、 出口多元化成效明显。 二是现代化产业体系建设持续推进。 新质生产力稳步发展，科技创新成果丰硕，人工智能、 生物医药、机器人等研发应用走在全球前列。 三是改革开放迈出新步伐。 全国统一大市场建设向纵深推进，综合整治"内卷式"竞争成效显 现，资本市场较为活跃，自主开放有序推进。 四是重点领域风险化解取得积极进展。 地方政府隐性债务有序置换，"保交房"任务 ...

2025年6月至9月，华源证券举办首届"提质增效·赋能转型——最美投教人"演讲竞赛，以"人才培养—实践赋能—标杆引领"的投教工作闭 环，为提升客户服务质量、深化投资者保护工作夯实基础。 9月25日，竞赛决赛在武汉总部拉开帷幕。公司党委副书记、总经理邓晖表示 ：" 华源证券始终将投教工作纳入战略全局，以人才培养为 核心抓手，通过劳动竞赛、技能培训等多元方式，打造 ' 懂专业、善传播、有温度 ' 的投教队伍，切实履行 ' 守护财富、传递理性 ' 的使 命担当。 " 决赛现场，来自湖北、大连、重庆、江西等地的8名优秀投教工作者，围绕投资者关注的热点问题，结合监管要求与实践案例展开演讲。大 连分公司丁云从社区答疑到风险提示，用专业、耐心与爱心守护百姓财富；湖北分公司佟聪聚焦"以房养老"等骗局，拆解非法证券活动的 危害，引导投资者核实资质再投资；客户服务中心戴天姿深入社区、校园，普及防非知识；"00后"青年党员罗沛璇创新融入社会热词，让 金融知识实现通俗化"软着陆"。 " 中国基金报：报道基金关注的一切 Chinafundnews 长按识别二维码，关注中国基金报 版权声明： 《中国基金报》对本平台所刊载的原创内容享有著 ...