Core Viewpoint - The surge in gold prices has significantly increased the demand for bank safe deposit box rentals, leading to a situation where many banks are experiencing shortages, with some only offering services to high-net-worth clients [1][10][12]. Group 1: Market Demand and Trends - The rising gold prices have prompted individuals to invest in gold bars and coins, resulting in a heightened demand for safe deposit boxes to store these assets [3][10]. - Data indicates that gold prices have increased by approximately 68% in 2025, while silver prices have surged by about 148%, driving consumer interest in purchasing gold [10][11]. - The global demand for gold reached a record high of 1,313 tons in Q3 2025, with a total value of $384 billion, reflecting a 41% year-on-year increase [11]. Group 2: Bank Policies and Client Requirements - Many banks have implemented financial asset thresholds for clients wishing to rent safe deposit boxes, with some requiring a minimum of 1 million yuan in assets [5][6]. - The rental fees for safe deposit boxes vary, with small boxes costing around 280 to 500 yuan annually, while larger boxes can range from 1,000 to 3,000 yuan [8][11]. - The availability of safe deposit boxes is influenced by location, with some areas experiencing more shortages than others, particularly in high-demand commercial districts [6][11]. Group 3: Future Outlook - The increasing number of high-net-worth individuals in China, now totaling 470,000, is expected to sustain the demand for safe deposit boxes as these individuals seek secure storage for their assets [12]. - Analysts predict that if gold and silver prices remain high, the demand for bank safe deposit boxes will continue to grow, although supply constraints may persist due to limited physical space and regulatory considerations [12].

Core Viewpoint - Yuanji Food Group has submitted its listing application to the Hong Kong Stock Exchange, with over 4,000 stores and a strong market presence in both China and Southeast Asia [2][5]. Group 1: Company Overview - Yuanji Food operates two main brands: "Yuanji Cloud Dumplings" for dining and "Yuanji Weixiang" for retail, with a focus on fresh handmade dumplings and wontons [5]. - As of September 30, 2025, Yuanji Food has 4,266 stores across 32 provinces in China and Southeast Asian countries like Singapore and Thailand, making it the largest Chinese fast-food company by store count [5][9]. Group 2: Business Model and Competitive Advantage - The company emphasizes "handmade fresh packaging" as its core selling point, creating a competitive barrier through an open kitchen concept that enhances consumer trust in freshness [7][9]. - Nearly 50% of surveyed consumers cite "handmade fresh packaging" as their primary reason for choosing Yuanji Food, alongside affordability and taste [9]. Group 3: Financial Performance - Yuanji Food's revenue reached 2.026 billion yuan in 2023 and is projected to grow to 2.561 billion yuan in 2024, with 1.982 billion yuan reported for the first nine months of 2025, reflecting an 11% year-on-year growth [10]. - The adjusted net profit for the first nine months of 2025 was 192 million yuan, a 31% increase compared to the same period in 2024 [10]. Group 4: Store Expansion and Franchise Model - Over 99% of Yuanji Food's stores are franchises, with a significant number of franchisees opening new locations, indicating a healthy and sustainable business model [11][15]. - As of September 30, 2025, the company has 4,247 franchise stores, with an average of 2.06 stores per franchisee, which is above the industry average [11][15]. Group 5: Management and Strategic Direction - The management team is young and experienced, with the founder and co-founder both in their 30s, and the addition of a former KFC China executive to the board enhances operational expertise [17]. - The company has completed three rounds of financing, with notable investors including Black Ant Capital and Xiamen Jianfa, indicating strong investor confidence [17]. Group 6: Market Challenges - Despite its large store count, Yuanji Food faces structural challenges, particularly in lower-tier cities where only 26.6% of its stores are located, compared to 51% in first-tier cities [19]. - The reliance on a franchise model increases management complexity and potential risks related to food safety and brand trust [19].

【导读】中国电建子公司签署两份重大合同，总金额约为 155.89 亿元 中国基金报记者 闻言 1 月 13 日晚间，中国电建发布《关于签署重大合同的公告》称，公司两家子公司分别签订了 一份 EPC （设计—采购—施工）总承包合同，两份合同金额合计约为 155.89 亿元。 这 是 中 国 电 建 在 2 0 2 6 年 首 次 公 告 签 署 重 大 合 同 。 1 月 1 3 日 收 盘 ， 中 国 电 建 股 价 报 5.5 1 元 / 股 ， 总 市 值 为 9 4 9.2 亿 元 。 两家子公司分别签大单 公告显示，近日，中国电建子公司中国水电建设集团国际工程有限公司和努尔巴拉沙克 · 扎 塞尔有限公司签订哈萨克斯坦 " 努尔巴拉沙克 · 扎塞尔 " 多功能康复中心建设项目一期工程 （东区） EPC 总承包合同，合同金额约为 68.73 亿元。 中国电建公告称，上述项目拟分期开发，本次签订的合同系一期工程，工作范围主要为公共 建筑、住宅、景观及基础设施等，工作内容包括勘察、设计、采购、施工等工作，合同工期 约为 60 个月。 上述项目位于哈萨克斯坦阿拉木图州江布尔区，旨在打造哈萨克斯坦首个融合国际标准 ...

Core Viewpoint - The article highlights the significant performance of the pharmaceutical sector, particularly the integration of AI in healthcare, with notable stock price increases for companies like Ark Health and WuXi AppTec, indicating a positive market trend in this industry [2][10][16]. Group 1: Market Performance - On January 13, the Hong Kong stock market saw a rise, with the Hang Seng Index up by 0.9% to 26,848.47 points, and the market turnover increased to 315.92 billion HKD from 306.22 billion HKD the previous day [2]. - Among the constituents of the Hang Seng Index, 53 stocks rose while 33 fell, with WuXi AppTec increasing by 8.30% and WuXi Biologics by 5.85%, leading the blue-chip stocks [4][5]. Group 2: Individual Stock Highlights - WuXi AppTec's stock price rose to 120 HKD per share, marking an increase of 8.30%, driven by a profit forecast indicating a projected net profit growth of approximately 102.65% for 2025 [16][18]. - WuXi Biologics also saw a significant increase, closing at 39.78 HKD per share with a rise of 5.85%, supported by its announcement of attending the 44th Annual J.P. Morgan Healthcare Conference [21][24]. Group 3: AI Integration in Healthcare - Ark Health's stock surged by 76.37% during the day, closing at 3.93 HKD per share, following its collaboration with Tencent Health to enhance "AI + Chronic Disease Management" technology [10][13]. - The partnership aims to provide comprehensive support for the digital transformation of chronic disease management, leveraging both companies' strengths in technology and healthcare [13][14]. Group 4: Future Outlook - WuXi Biologics announced a record high of 209 new projects for 2025, with a total project count reaching 945, indicating strong growth potential and a robust pipeline [24][26]. - The company is optimistic about accelerating commercialization revenue growth in 2026, focusing on advanced technologies and global capacity expansion [26].

【导读】广西金融投资集团有限公司原党委书记、董事长蒙坤伟被开除党籍 中国基金报记者 晨曦 金融反腐最新消息来了！ 1 月 13 日，中央纪委国家监委官网通报： 广西金融投资集团有限公司原党委书记、董事长 蒙坤伟被开除党籍 。 经广西壮族自治区党委批准，广西壮族自治区纪委监委对广西金融投资集团有限公司原党委 书记、董事长蒙坤伟严重违纪违法问题进行了立案审查调查。 经查，蒙坤伟存在以下问题： ● 丧失理想信念，背弃初心使命，投机钻营，在党内搞政治攀附；无视中央八项规定精神， 违规接受宴请和住宿安排，违规长期占用办公用房； ● 违背组织原则，在干部选拔任用工作中为他人谋利并收受钱款；廉洁底线失守，收受可能 影响公正执行公务的礼品礼金和消费卡，将应由个人支付的费用交由他人支付； ● 不正确履行防范化解金融风险工作职责，造成严重不良影响；毫无纪法意识， " 靠金融吃 金融 " ，违规设立 " 小金库 " ，非法占有公共财物； ● 将公权力异化为谋取私利的工具，大搞权钱交易，利用职务便利在项目合作、贷款办理、 职务晋升等方面为他人谋利，并非法收受巨额财物。 通报指出，蒙坤伟严重违反党的政治纪律、组织纪律、廉洁纪律和工作纪 ...

Core Viewpoint - The article discusses the significant inflow of over 12 billion RMB into the Debang Stable Growth Fund in a single day, prompting the company to respond with increased purchase limits to protect existing investors' interests [2][3]. Group 1: Fund Inflow and Company Response - Debang Fund announced a substantial inflow of 12 billion RMB into its Stable Growth Fund on January 13, leading to a decision to adjust purchase limits for the fund [4][5]. - The company expressed gratitude for investor interest but clarified that it does not disclose real-time fund size data, which is only available after daily settlement [4][5]. - Starting January 14, the purchase limits for Class A and Class C shares will be reduced from 10 million RMB and 1 million RMB to 100,000 RMB and 10,000 RMB, respectively, to prioritize the interests of existing fund holders [4][5]. Group 2: Fund Performance - The Debang Stable Growth Fund, managed by Lei Tao and Lu Yang, was established in March 2017 and had a reported size of 724 million RMB as of the third quarter of the previous year [6]. - The fund focuses on the artificial intelligence application sector, with its top ten holdings experiencing significant price increases, including a 20% surge for several stocks on January 12 [6]. - As of January 12, the fund's unit net value had increased by 29.42% since the beginning of the year, with a one-year growth rate of 52.12%, placing it in the top 30% of its category [6].

对此，毛宁回应："这是日本的内政，我不作评论。" 七国集团财长昨天 达成一致，决定加快减少从中国的稀土进口，降低对中国的依赖，外交部回应 高市早苗打算提前进行大选，外交部：这是日本内政 1月13日，外交部发言人毛宁主持例行记者会。 彭博社记者提问，日本首相高市早苗表示打算提前举行大选，时间可能在二月份。中方对此有 何评论？ 来源： 北京日报客户端 ...

Market Overview - The market experienced a significant pullback after a long rally, with the Shanghai Composite Index ending a 17-day winning streak, closing down 0.64% [2] - Total market turnover reached a record high of approximately 3.7 trillion CNY, with 1,622 stocks rising and 3,729 stocks falling [3][4] Sector Performance - The commercial aerospace sector saw a collective decline, with several stocks, including China Satellite Communications and Aerospace Science and Technology, hitting the daily limit down. Companies issued warnings about "detaching from fundamentals" and advised "cautious investment" [5] - AI healthcare and AI pharmaceutical stocks continued to perform strongly, with multiple stocks, such as Sichuang Medical and others, hitting the daily limit up [6] - Oil and gas stocks experienced a surge, with Zhun Oil and Tongyuan Petroleum reaching the daily limit up and increasing over 10% [8] Notable Stocks - TBEA Co., Ltd. saw a rapid increase, hitting the daily limit within 10 minutes, driven by overseas news regarding energy costs for data centers [10][13] - Other notable gainers included Tianlong Group, Worth Buying, and Yidian Tianxia, with increases of 19.97%, 11.61%, and 10.72% respectively [7] International Market Influence - The Nikkei 225 index rose over 3%, and the Korean Composite Index closed up 1.47%, influenced by political developments in Japan regarding potential early elections [14]

来源：上海市第一中级人民法院 经审理查明：2003年至2021年，被告人郑建华利用职务上的便利，为他人提供帮助，索取或 非法收受他人给予的财物共计折合人民币1.56亿余元；2007年至2008年，郑建华利用职务 上的便利，伙同他人侵吞单位公款215万元；2018年上半年，郑建华利用职务上的便利，挪 用公款借贷给他人使用，至案发，尚有7亿余元未归还；2015年至2021年，郑建华为营造个 人政绩与谋取个人私利，违反规定，滥用职权，致使国家利益遭受特别重大损失。 据上海市第一中级人民法院官微消息，2026年1月13日，上海市第一中级人民法院一审公开 宣判原上海电气（集团）总公司党委书记、董事长郑建华受贿、贪污、挪用公款、国有公司 人员滥用职权案，对被告人郑建华以受贿罪判处死刑，缓期二年执行，剥夺政治权利终身， 并处没收个人全部财产；以贪污罪，判处有期徒刑五年，并处罚金人民币二十万元；以挪用 公款罪，判处有期徒刑十五年；以国有公司人员滥用职权罪，判处有期徒刑七年；决定执行 死刑，缓期二年执行，剥夺政治权利终身，并处罚金人民币二十万元，没收个人全部财产。 违法所得及收益予以追缴。 上海市第一中级人民法院认为，被告人郑 ...

Core Viewpoint - The article discusses the recent trend of mutual funds in China implementing subscription limits on popular products due to a booming market, aiming to control fund size and maintain investment strategy effectiveness [2][3][4]. Group 1: Subscription Limits - Yongying Fund announced a subscription limit for its two popular products, Yongying High-end Equipment Selection and Yongying Information Industry Selection, effective January 14, 2026, with a limit of 1 million RMB for individual investors [6][9]. - Other fund companies, including China Europe, Ping An, and Morgan, have also announced subscription limits for their high-performing funds, reflecting a cautious approach in light of the strong market performance [3][11]. Group 2: Fund Performance - As of January 12, the Yongying High-end Equipment Selection fund, managed by Zhang Lu, achieved a one-year net value growth of 158.86%, ranking 9th out of 4444 in its category, and a three-year growth of 107.39%, placing it in the top 2% [8]. - The fund's strategy focuses on the latest generation of robots and the supportive policies for the robotics industry in China, which are expected to create a significant market opportunity [8]. Group 3: Market Context - The article highlights that as of January 12, 1450 active equity funds and 867 passive index funds reached new net value highs, indicating a strong start to the year for the A-share market [11]. - Nearly 30 equity funds have announced subscription limits as of January 13, reflecting fund managers' cautious attitudes towards the recent performance and a focus on stable growth and sustained profitability for investors [11].