Core Viewpoint - The company, Guiding Compass, is increasing its wholly-owned subsidiary, Maigao Securities, by 100 million yuan to support its business development needs after a failed 2.9 billion yuan fundraising attempt [2][5][6]. Group 1: Capital Increase - Guiding Compass announced a capital increase of 100 million yuan for Maigao Securities, raising its registered capital from 1.4 billion yuan to 1.5 billion yuan [5]. - The capital increase aims to better meet the funding needs of Maigao Securities and is aligned with the company's long-term planning and core interests [5][6]. Group 2: Previous Fundraising Attempt - The previous fundraising plan, which aimed to raise up to 2.9 billion yuan, was terminated after three years due to various internal and external factors [6]. - The decision to terminate the fundraising was made after careful analysis and consideration of the company's strategic goals [6]. Group 3: Financial Performance of Maigao Securities - Maigao Securities has begun to recover from previous years of losses, reporting a revenue of 324 million yuan and a net profit of 70.36 million yuan in the first half of 2025 [6]. - For the first three quarters of 2025, Maigao Securities achieved a net income from fees and commissions of 366 million yuan, a year-on-year increase of 171.07% [6]. - The net interest income for the same period was 70.84 million yuan, reflecting a growth of 54.46% year-on-year [6].

Core Viewpoint - ST Xianhe is set to remove other risk warnings and change its stock name to "Xianhe Environmental Protection" after completing internal control rectifications [2][4]. Group 1: Company Announcement - On December 4, ST Xianhe announced that its stock would be suspended from trading on December 5 and would resume trading on December 8, with the removal of other risk warnings [2]. - The stock name will change from "ST Xianhe" to "Xianhe Environmental Protection" upon resumption [2]. Group 2: Regulatory Background - ST Xianhe received an administrative penalty notice from the Hebei Regulatory Bureau of the China Securities Regulatory Commission on November 8, 2024, due to false disclosures in its 2022 annual report [4]. - The company has restated its financial reports for the relevant years and has confirmed that there are no other circumstances warranting risk warnings [4]. Group 3: Financial Performance - For the first three quarters of the year, ST Xianhe reported a revenue of 628 million yuan, a year-on-year increase of 4.71%, and a net profit attributable to shareholders of 5.53 million yuan, up 2.68% year-on-year [4]. - Historical performance shows a declining trend in revenue, with total revenue decreasing from 1.248 billion yuan in 2020 to 628 million yuan in 2023 [5]. - The company’s net profit has also shown volatility, with a significant drop in previous years, indicating ongoing financial challenges [5]. Group 4: Business Focus - ST Xianhe specializes in the research, production, and sales of high-end environmental monitoring instruments, including various automatic monitoring systems for air quality, water quality, and wastewater [6].

【导读】药明生物、药明康德领涨蓝筹，澳达控股狂飙超370% 中国基金报记者 郭玟君 12月4日，港股震荡攀升，恒生指数收涨0.68%，报25935.9点；恒生科技指数上涨1.45%，报5615.43点；恒生中国企业指数上涨 0.86%，报9106.48点。市场成交1793.06亿港元，较前一交易日 有所增加。 | 恒生指数 | 恒生国企 | 恒生科技 | | --- | --- | --- | | 25935.90 | 9106.48 | 5615.43 | | +175.17 +0.68% +77.93 +0.86% +80.51 +1.45% | | | 恒生指数成 份 股中65只上涨 、 21只下跌。 其中， 药明生物涨7.09%，药明康德涨5.44%，小米集团涨4.38%。 | 序号 | 名称 | 代码 | 现价 | 涨跌 | 涨跌幅 | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 药明生物 | 2269 | 32.940 c | 2.180 | 7.09% | 19.91亿 | 87.59% | | 2 | 药 ...

Core Viewpoint - The People's Bank of China (PBOC) will conduct a 10 trillion yuan buyout reverse repurchase operation on December 5, 2025, to maintain ample liquidity in the banking system, marking the second consecutive month of equal volume operations [2]. Group 1 - The PBOC's operation on December 5 will match the 10 trillion yuan of 3-month buyout reverse repos maturing in December, indicating a continuation of liquidity support [2]. - The decision not to increase the volume of the 3-month reverse repos may relate to the funding needs of financial institutions, rather than a reduction in liquidity provision [3]. - There is an expectation of an additional 6-month buyout reverse repurchase operation in December, as 4 trillion yuan of 6-month reverse repos will also mature [2][3]. Group 2 - Factors contributing to potential liquidity tightening include the issuance of 5 trillion yuan in local government bonds and a significant increase in the maturity of interbank certificates of deposit, reaching 37 trillion yuan in December [3]. - The PBOC aims to inject medium-term liquidity through buyout reverse repos to stabilize the funding environment and support government bond issuance [3]. - The central bank's strategy reflects a "short-term tightening, long-term easing" approach to ensure stable liquidity in the banking system as the year-end approaches [3][4]. Group 3 - The PBOC is expected to utilize both buyout reverse repos and Medium-term Lending Facility (MLF) tools to inject liquidity into the market in December [4]. - There is an anticipation of over 25 trillion yuan in open market operation funds maturing in December, which the PBOC will likely counteract through continued operations [4]. - The PBOC is projected to conduct a 6-month buyout reverse repo operation around December 15, with expectations for either equal or increased volume [4].

美国政府此举同时引发部分人士反对。加州州长纽森说， 降低燃油车经济性标准，将迫使美 国人支付更多的加油费用，同时还会污染空气 。另有环保人士认为，此举不仅会加剧气候变 化，还会延缓汽车行业电动化转型，对产业造成损害。 特朗普政府此前曾批评拜登政府时期提高燃油经济性标准的决定，认为这种做法助推电动汽 车的销售。 特朗普：跟马斯克有分歧 不希望人人都被迫开电动车 参考消息援引美媒12月3日报道，被问美国企业家马斯克现在重回你的朋友圈了吗？"美国总统特朗 普："这个嘛，我真的不清楚。我很喜欢埃隆。他在选举期间的支持确实帮了大忙。 不过我们有分歧 ——我不希望人人都被迫开电动车，而他正好生产电动车。 但总体而言我们相处得不错。" 突 发，加 息 大 消 息！暴 涨 1 0 0 0 点！ 来源：央视新闻 参考消息 美国总统特朗普12月3日在白宫记者会上宣布 ， 将降低在美车企生产的燃油车经济性标准要 求 。 根据美国交通部下属国家公路交通安全管理局发布的通知，到2031款车型年度，行业轻型车 平均燃油经济性标准应达到每加仑约34.5英里（约合每百公里6.9升），显著低于当前标准要 求的每加仑50.4英里（约合每百公里4 ...

此前报道： 打虎！叶红专被查 中央纪委国家监委网站12月3日消息，湖南省人大常委会原党组成员、副主任叶红专涉嫌严重违纪违 法，目前正接受中央纪委国家监委纪律审查和监察调查。 来源：湖南日报 中央纪委国家监委 政事儿 12月3日消息， 中央纪委国家监委通报， 湖南省人大常委会原党组成员、副主任叶红专 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。 据湖南日报消息，12月4 日，湖南省委书记沈晓明主持召开省委常委会会议，通报中央纪委 国家监委对叶红专进行纪律审查和监察调查的决定。 会议指出，中央纪委国家监委对叶红专涉嫌严重违纪违法进行纪律审查和监察调查，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的坚定决心，再次释放了一刻 不停推进正风肃纪反腐的强烈信号。 湖南省委坚决拥护、完全赞成。全省各级党组织和广大 党员干部要把思想和行动统一到党中央关于全面从严治党的各项决策部署上来，深刻汲取教 训，切实引以为戒， 不断提高政治判断力、政治领悟力、政治执行力，以实际行动深刻领悟 "两个确立"的决定性意义、坚决做到"两个维护"。 会议强调，要始终保持反腐败高压态势，坚持党性党风党纪一起抓 ...

Market Overview - A-shares experienced a volatile rise on December 4, with the ChiNext Index increasing by over 1%. The Shanghai Composite Index fell by 0.06%, while the Shenzhen Component Index rose by 0.4% [1] - A total of 1,455 stocks rose, with 39 hitting the daily limit up, while 3,878 stocks declined [2] Stock Performance - The market saw significant movements in various sectors, particularly in the robotics and commercial aerospace sectors, with multiple stocks reaching their daily limit up [4][6] - Notable stocks included: - Haichang New Materials (涨幅 19.99%, 现价 25.57) - Huarun Co. (涨幅 19.96%, 现价 11.24) - Feiwo Technology (涨幅 19.58%, 现价 74.86) [5] Sector Trends - The robotics sector gained strength, influenced by policy shifts from the Trump administration towards robotics development, which also led to a surge in the US stock market's robotics sector [4] - The commercial aerospace sector remained active, with stocks like China Satellite hitting the daily limit up [6] - The AI mobile phone sector faced adjustments, with Daoming Optical hitting the daily limit down [11] Economic Indicators - Japan is preparing for a potential interest rate hike, with expectations that the Bank of Japan may raise the policy rate from 0.5% to 0.75% in December, marking the first increase since January [14] - Market expectations for a December rate hike have risen significantly, with swap market predictions increasing from approximately 70% to 93% following recent statements from the Bank of Japan [16]

来源：政事儿、 中央纪委国家监委网站 中央纪委国家监委网站12月4日消息，经中共中央批准，中央纪委国家监委对第二十届中央委员，广西 壮族自治区党委原副书记、自治区政府原主席蓝天立严重违纪违法问题进行了立案审查调查。 经查， 蓝天立丧失理想信念，背弃初心使命，违背新发展理念和高质量发展要求，贯彻落实党中央重 大决策部署打折扣、搞变通，丧失党性原则，在党内搞拉帮结派，培植个人势力，搞投机钻营，结交政 治骗子，对抗组织审查；违反中央八项规定精神，违规接受宴请；违反组织原则，违规选拔任用干部； 廉洁底线失守，违规收受礼品、礼金；家风不正，对家人失管失教；目无法纪，贪婪无度，利用职务便 利为他人在工程项目承揽、干部选拔任用等方面谋利，并非法收受巨额财物。 蓝天立严重违反党的政治纪律、组织纪律、廉洁纪律和生活纪律，构成严重职务违法并涉嫌受贿犯罪， 且在党的十八大后不收敛、不收手，性质严重，影响恶劣，应予严肃处理。依据《中国共产党纪律处分 条例》《中华人民共和国监察法》《中华人民共和国公职人员政务处分法》等有关规定， 经中央纪委 公开简历显示，蓝天立，男，壮族，1962年10月生，在职研究生，中共党员，二十届中央委员。 蓝 ...

来源：北京日报 12月4日，外交部发言人林剑主持例行记者会。 有记者提问，有媒体报道称，12月3日，日本首相高市早苗在参议院全体会议上援引《中日联 合声明》，表示"理解和尊重"中国政府关于"台湾是中国领土不可分割的一部分"的立场。中 方对此有何评论？ 林剑指出， 据核实，有关报道不准确。高市首相本人只提及日方在台湾问题上的基本立场如 1972年《中日联合声明》所述，这一立场没有变化，仅此而已。 热搜第一！24人骗 取生育津贴超220万元，国家医保局最新曝光！网友怒了：人怎么可以聪明成这个样子，太过分了 "中方的态度是明确的，我们敦促日方切实反思纠错，撤回高市首相错误言论。"林剑表示， 面对历史档案记得清清楚楚、白纸黑字写得明明白白的原则问题， 面对中方连日来的多次质 问和日本国内国际社会的批评，高市首相仍然只是用立场没有变化来敷衍搪塞，中方对此绝 不接受。 "既然高市首相称日方在台湾问题上的基本立场如1972年《中日联合声明》所述， 那么她能 准确完整重申1972年《中日联合声明》所述的内容吗？为什么日方就是刻意不肯讲清楚既有 的承诺和法律义务，这背后到底是什么逻辑和居心，日方也需要给中方和国际社会一个交 代 ...

Core Viewpoint - The research team from the University of Science and Technology of China successfully conducted the "recoil slit" thought experiment proposed by Einstein and Bohr in 1927, demonstrating the gradual change in interference contrast of atomic momentum and proving the complementarity principle under the Heisenberg limit [2][3][4]. Group 1 - The team utilized a single rubidium atom trapped by optical tweezers as a "movable slit," achieving the most sensitive measurement under quantum limit conditions [3]. - The experiment involved cooling the atom to its three-dimensional ground state, reducing its momentum uncertainty to a level comparable to that of a single photon [3]. - The results indicated that after photon recoil, the overlap of the atomic momentum wave function increased, leading to a decrease in entanglement between the photon and the atom, thus enhancing the interference contrast of the photon [3][4]. Group 2 - This research marks the first realization of Einstein's thought experiment nearly a century after the debate between Einstein and Bohr, utilizing a ground state single atom as a sensitive movable slit [4]. - The findings contribute to advancements in high-precision single-atom manipulation, single-atom-single-photon entanglement, and interference techniques, laying the groundwork for future explorations in large-scale neutral atom arrays and quantum error correction [4].