【导读】美股集体收跌，科技股普跌，甲骨文显著下跌，中概股微跌； 30 年期美债收益率升 至 9 月以来最高水平 中国基金报记者 张舟综合整理 大家好，今天是周六，一起聚焦海外市场最新收盘表现与本周整体走势。 美东时间 12 月 12 日周五收盘，美国股市集体收跌。热门科技股普跌，中概股微跌。 来看具体市场情况 —— 美国三大股指全线收跌 昨夜今晨，美股三大股指全线收跌。截至收盘，道琼斯工业平均指数跌 0.51% ，报 48458.05 点；标普 500 指数跌 1.07% ，报 6827.41 点；纳斯达克综合指数跌 1.69% ， 报 23195.17 点，纳斯达克 100 指数跌近 2% 。 从周度表现表现看，三大指数震荡调整幅度较大且涨跌不一。其中，纳斯达克综合指累跌 1.62% ，道指累涨 1.05% ，标普 500 指数累跌 0.63% 。 板块方面，昨夜今晨科技股普跌，博通跌超 11% ，美光科技跌逾 6% ，英伟达跌超 3% 。 | 半导体-半导体材料与设备 | | -5.30% | | --- | --- | --- | | 名称 两日图 | 涨跌幅 | 市值 ▼ | | 英伟达(NVIDI ...

Group 1: Market Overview - The U.S. stock market is experiencing a divergence, with the Dow Jones index reaching a record high while the tech-heavy Nasdaq index is declining, down over 1% [4][5] - Concerns regarding the AI trading sector are intensifying, leading to a sell-off in technology stocks [5] Group 2: Company Performance - Broadcom's stock fell approximately 10% despite reporting a record fourth-quarter revenue of $18.02 billion and a profit of $8.518 billion, exceeding analyst expectations [7] - The CEO of Broadcom indicated that the gross margin for rapidly growing AI revenue is lower than that of non-AI revenue, which disappointed investors [7] - Fermi's stock plummeted 40% after a tenant terminated a $150 million agreement related to an AI campus project, raising concerns about potential bubbles in AI-related infrastructure [8] Group 3: Analyst Insights - Analysts suggest that the strong performance of the Dow indicates a potential market trend shift, where gains may spread beyond a few large-cap stocks [13] - There is a belief that 2026 will be a pivotal year for market leadership to diversify, prompting a shift in investment strategies [13][14]

【导读】长安汽车拟参与深蓝汽车增资，后者计划募资约 61.22 亿元 中国基金报记者 邱德坤 12 月 12 日晚间，长安汽车发布公告称，公司控股子公司深蓝汽车科技有限公司（以下简称深蓝汽车）拟以公开挂牌方式增资扩股，预计 募资规模约 61.22 亿元，其中公司拟参与增资不超过 31.22 亿元。 深蓝汽车是长安汽车新能源 " 香格里拉 " 战略的核心承载主体，截至 2025 年 3 月 31 日的估值达 145.51 亿元，但长安汽车此前一度 丧失对深蓝汽车的控股权。 截至 12 月 12 日收盘，长安汽车 A 股股价报 11.64 元 / 股，总市值为 1026 亿元。 长安汽车拟维持对深蓝汽车控股权 公告显示，深蓝汽车此次增资扩股预计募资约 61.22 亿元（最终以实际到账金额为准），包括重庆产交所公开挂牌增资和非公开协议增资 两部分。 长安汽车拟以非公开协议方式，通过无形资产及自有资金参与深蓝汽车此次增资，增资规模不超过 31.22 亿元，其中无形资产评估价值为 10.43 亿元，其余以现金方式进行增资，资金来源为自有资金。 长安汽车公告称，公司根据征集到的合格投资人实际出资金额，以及最终增资价格调整 ...

【导读】 国家金融监督管理总局党委召开会议传达学习中央经济工作会议精神 来源： 国家金融监督管理总局 三是加力提效促进高质量发展。引导银行保险机构持续加大对国家重大战略、重点领域和 薄弱环节的金融供给，努力提升经济金融适配性。高效服务扩大有效需求，继续发挥新型政策 性金融工具作用，支持激发投资、带动提振消费。创新科技金融服务，稳步推进总局科技金 融"四项试点"扩围增效。深化小微企业融资协调工作机制，优化乡村全面振兴金融服务，做 好灵活就业群体、新就业形态人员保险服务，大力发展长期护理险，加强灾害保险保障。 四是纵深推进总局系统全面从严治党。持续强化政治建设，深化党的创新理论武装，切实 提高政治能力。持之以恒正风肃纪反腐，巩固拓展深入贯彻中央八项规定精神学习教育成果， 一体推进"三不腐"。锻造忠诚干净担当的监管队伍，不断提升监管队伍纯洁性、专业性、战 斗力。深入实施"四新"工程，进一步营造风清气正、干事创业的浓厚氛围。 会议要求，要扎实做好岁末年初各项工作。全面梳理盘点今年重点目标任务，前瞻谋划 2026年金融监管重点工作。加强政策宣传解读，为推动经济金融高质量发展营造良好舆论氛 围。高度重视安全生产等工作，全 ...

【导读】恩捷股份拟收购中科华联 100% 股份， 12 月 15 日开市起复牌 中国基金报记者 邱德坤 12 月 12 日晚间，恩捷股份发布的交易预案显示，公司拟通过发行股份的方式购买青岛中科 华联新材料股份有限公司（以下简称中科华联） 100% 的股份，并募集配套资金。 恩捷股份作为 A 股锂电池隔膜龙头企业，筹划此次交易是在锂电池行业上行期。恩捷股份董 事长李晓明近期表示： " 预计未来几年，隔膜和整个锂电池行业仍会保持较高增长态势。 " 恩捷股份针对上述交易自 12 月 1 日开市起停牌，计划自 12 月 15 日开市起复牌。截至 11 月 28 日收盘，恩捷股份股价报 55.35 元 / 股，总市值为 543.7 亿元。 购买资产发行价确定为 34.38 元 / 股 交易预案显示，恩捷股份拟通过发行股份的方式，购买中科华联 100% 的股份，发行股份的 价格为 34.38 元 / 股，不低于定价基准日前 120 个交易日恩捷股份股票交易均价的 80% 。 目前，中科华联的审计和评估工作尚未完成，本次交易的具体交易价格尚未确定。因此，本 次交易前后恩捷股份的股权结构变动情况，尚无法准确计算。 同时，恩捷 ...

【导读】 重磅合作，阿里健康大涨！国际机构唱多，网易大涨 中国基金报记者 格林 12 月 12 日，港股三大指数集体大涨。其中，恒生指数收涨 1.75% ，报 25976.79 点，恒生科技指数涨 1.87% ，恒生中国企业指数涨 1.62% 。全日大市成交额为 2427 亿港元，南向资金净卖出 52.87 亿港元。 | 序号 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | HSI | 恒生指数 | 25976.79c | 446.28 | 1.75% | 2427亿 | 29.50% | | 2 | HSTECH | 恒生科技 | 5638.05c | 103.46 | 1.87% | 765亿 | 26.18% | | 3 | HSBIO | 恒生生物科技 | 15267.73c | 217.74 | 1.45% | 129亿 | 77.09% | | 4 | HSCEI | 恒生中国企业指数 | 9079.35c | 145.07 | 1.62% | 951亿 ...

Core Viewpoint - Humanwell Healthcare will be subjected to ST treatment due to false financial disclosures in its annual report, as indicated by the China Securities Regulatory Commission [2][4] Group 1: Financial Violations - The company failed to timely disclose non-operating fund occupation of 12.785 billion yuan from 2020 to 2022, with 2.502 billion yuan in 2020 accounting for 17.58% of net assets [5] - The 2020 annual report omitted the disclosure of 2.502 billion yuan in fund occupation (19.26% of net assets), and the 2022 annual report did not disclose 1.645 billion yuan in related party transactions [5] - The annual reports for 2020, 2021, and the first half of 2022 inflated net profits by 143 million yuan, 72 million yuan, and 91 million yuan respectively [5] Group 2: Penalties and Consequences - The total fines imposed amount to 36.7 million yuan, including 8.5 million yuan for Humanwell Healthcare, 9 million yuan for the controlling shareholder, and 3.9 million yuan each for the former chairman and the actual controller [5][6] - The actual controller, Ai Luming, is proposed to be banned from the market for seven years due to his central role in the violations [6] Group 3: Ownership Changes - The controlling shareholder changed to China Merchants Biomedical in July 2025, ending the 32-year control by the "Contemporary System" [8] - Following the change in control, there was a significant turnover in the executive team, with multiple resignations attributed to "personal reasons" [8][9] Group 4: Financial Performance - The company's net profit declined from 2.484 billion yuan in 2022 to 1.33 billion yuan in 2024, nearly halving [10] - In the first three quarters of 2025, Humanwell Healthcare reported revenue of 17.883 billion yuan, a year-on-year decrease of 6.58%, while net profit attributable to shareholders increased by 6.22% to 1.689 billion yuan [12] - The company has received approval for 10 new drugs this year, indicating a focus on innovation [12]

【导读】贝斯美公告，绍兴市公安局决定对公司实控人陈峰取保候审 中国基金报记者 卢鸰 贝斯美 12 月 12 日晚公告，公司于 2025 年 12 月 11 日收到实际控制人陈峰通知，绍兴市 公安局对陈峰出具了《取保候审决定书》，根据《中华人民共和国刑事诉讼法》相关规定， 决定对陈峰取保候审，期限从 2025 年 12 月 11 日起算。 贝斯美表示，陈峰目前未在上市公司担任董事、高级管理人员或其他任何职务，公司拥有完 善的治理结构及内控机制，公司日常经营管理由公司高管团队负责，上述事项不会对公司日 常生产经营活动产生影响，目前公司生产经营运作正常，各项工作有序开展。 取保候审是《中华人民共和国刑事诉讼法》规定的一种刑事强制措施。在我国，是指人民法 院、人民检察院或公安机关责令某些犯罪嫌疑人、刑事被告人提出保证人或者交纳保证金， 保证随传随到的强制措施，由公安机关执行；通常对犯罪较轻，不需要拘留、逮捕，但需要 对其行动自由作一定限制的犯罪嫌疑人采用。 此前，贝斯美于 10 月 31 日公告，公司收到实际控制人陈峰的通知，其于 2025 年 10 月 31 日收到中国证监会下发的《立案告知书》（编号：证监立案字 ...

Core Viewpoint - The meeting of the People's Bank of China (PBOC) emphasized the importance of implementing the spirit of the Central Economic Work Conference, focusing on macroeconomic management and financial stability for the upcoming year [2][3]. Group 1: Economic Performance and Policy Direction - The PBOC acknowledged the achievements made over the past year despite external pressures and internal challenges, highlighting the effectiveness of the central leadership in navigating economic complexities [3]. - The meeting underscored the need for a proactive macroeconomic policy to ensure stable economic growth and high-quality development, aligning with the goals set for the 14th Five-Year Plan [3][4]. Group 2: Monetary Policy and Financial Management - The PBOC plans to continue implementing a moderately loose monetary policy, focusing on stabilizing economic growth and ensuring reasonable price recovery [5]. - There will be an emphasis on enhancing the transmission mechanism of monetary policy and optimizing structural monetary policy tools to support key sectors such as domestic demand, technological innovation, and small and medium-sized enterprises [5][6]. Group 3: Financial Stability and Risk Management - The meeting highlighted the importance of preventing and mitigating financial risks, maintaining a balance between economic growth, structural adjustments, and financial stability [5]. - The PBOC aims to strengthen financial risk monitoring and establish mechanisms for providing liquidity to non-bank financial institutions under specific scenarios [5][6]. Group 4: Financial Openness and International Cooperation - The PBOC is committed to advancing high-level financial openness while ensuring national financial security, participating in global financial governance reforms, and promoting the internationalization of the Renminbi [6]. - The development of a comprehensive cross-border payment system for the Renminbi and the gradual rollout of digital currency are also key focuses [6].

Core Viewpoint - The article reports on the disciplinary investigation of Xiao Jinghua, the former deputy general manager of Dongfeng Motor Corporation's Special Equipment Division, highlighting ongoing anti-corruption efforts within the company [1][3]. Group 1: Investigation Details - Xiao Jinghua is under investigation for serious violations of discipline and law, as announced by the Central Commission for Discipline Inspection and the National Supervisory Commission [1]. - He has held various significant positions within Dongfeng Motor, including roles in commercial vehicle manufacturing and technology engineering [3]. Group 2: Company Context - In 2022, Xiao was appointed as the deputy general manager of Dongfeng Special Equipment Division and became a member of the company's party committee in January 2023 [3]. - The company has seen multiple officials investigated this year, indicating a broader crackdown on corruption within Dongfeng Group [5]. Group 3: Anti-Corruption Efforts - The article mentions that Dongfeng Group's disciplinary bodies are committed to addressing corruption and improving oversight, aiming for high-quality disciplinary work to implement the spirit of the recent plenary sessions [5].