Core Viewpoint - The Zhanhai High-speed Railway project is a significant infrastructure initiative aimed at connecting the Guangdong-Hong Kong-Macao Greater Bay Area with the Hainan Free Trade Port, facilitating efficient transportation and economic integration between these two major national economic zones [4][7]. Group 1: Project Overview - The Zhanhai High-speed Railway will start from Zhanjiang City in Guangdong Province, passing through Leizhou and Xuwen, and will include a ferry crossing of approximately 23 kilometers across the Qiongzhou Strait to Haikou City in Hainan Province [4][5]. - The project is part of the national "Eight Vertical and Eight Horizontal" high-speed railway network, serving as a crucial transportation link between Hainan and the mainland [4][7]. Group 2: Time Efficiency - Once completed, the travel time from Zhanjiang to Xuwen is expected to be reduced from around 2 hours to under 30 minutes, while the journey from Zhanjiang to Haikou is anticipated to decrease from 3-4 hours to under 2 hours, creating an efficient transportation loop across the Qiongzhou Strait [5][9]. Group 3: Strategic Importance - The Zhanhai High-speed Railway will enable seamless connectivity between the Hainan Ring Island High-speed Railway and the national high-speed rail network, fostering resource sharing and industrial collaboration between the Greater Bay Area and the Hainan Free Trade Port [7][10]. - The project aims to transform the geographical role of western Guangdong from a peripheral area to a frontline region, promoting industrial upgrades in manufacturing and modern logistics under the influence of free trade policies [13]. Group 4: Project Timeline - The Zhanhai High-speed Railway is striving to be completed and operational during the "14th Five-Year Plan" period [8][9].

Core Viewpoint - The U.S. stock market experienced a significant drop after initially opening strong, while Chinese assets, particularly Chinese concept stocks, maintained a robust performance with a rise of approximately 4% [2][5]. Market Performance - On January 2, the U.S. stock market indices initially followed the Asian market's upward trend but soon began to decline, with the Dow Jones fluctuating and both the Nasdaq and S&P 500 erasing their earlier gains [2]. - The Nasdaq index was reported at 23,168.32, down 0.32% with a trading volume of 2.14 billion shares [4]. - The Nasdaq China Golden Dragon Index rose by 4.22%, reaching 7,847.38, with a trading volume of 0 shares at the time of reporting [6]. Chinese Stocks - Chinese concept stocks showed resilience, with notable gains: Baidu increased by over 12%, and its subsidiary Kunlun Chip has submitted a listing application to the Hong Kong Stock Exchange [5][7]. - Other Chinese stocks also performed well, including Yatsen Global (+11.31%), JinkoSolar (+9.41%), and others, contributing to the overall strength of the Chinese stock market [7]. Sector Movements - The Philadelphia Semiconductor Index surged over 3%, with significant gains from companies like ASML (+9.26%) and Micron Technology (+8.56%) [12][14]. - The decline in the Nasdaq was influenced by major AI software stocks, with Amazon and Microsoft both dropping over 2% [15]. Economic Factors - The stock price of Wayfair and RH rose over 5% due to the postponement of tariffs on soft furniture and kitchen cabinets by the U.S. government [17].

当地时间1月2日，瑞士调查人员表示， 瓦莱州克朗-蒙大拿"星座"酒吧火灾所有遇难者的身 份确认工作正在展开，这一过程或需"几天甚至数周"。 据克朗-蒙大拿地方网站介绍，"星座"酒吧室内至多可容纳300人，外加露台能容纳40人。 目前尚不清楚火灾发生时酒吧内究竟有多少人，瑞士警方也没有公布失踪者数量。 "星座"酒吧1日凌晨发生火灾，造成约40人死亡、115人受伤，其中大部分人伤势严重。目 前， 火灾具体起因仍在调查中。 瑞士联邦主席帕姆兰说，这是"瑞士历史上最严重的悲剧之 一"，瑞士联邦议会大厦的国旗将降半旗五天，以示"举国悲痛"。 当地警方说，有关部门"正与遇难者家属保持密切联系，实时通报情况，同时与相关各国使馆 保持沟通"。目前已知意大利、法国均有公民在此次火灾中失联或受伤。 les & FR 点击下载中国基金报客户端 来源：央视新闻 当地时间1月2日下午，瑞士瓦莱州检方在新闻发布会上表示，目前推测瓦莱州克朗－蒙大 拿"星座"酒吧火灾是由某种插在香槟酒瓶上的烟花棒引起，由于烟花棒距天花板过近，火势 迅速蔓延，最终引发大火。 瓦莱州州长表示，遇难人数仍为40人，但许多伤者仍有生命危险。瓦莱州警察局长表示， 1 ...

Group 1 - Russia has formally requested the United States to cease its pursuit of the "Bella" oil tanker, which is under sanctions and was heading to Venezuela [2][3] - The request was delivered to the U.S. State Department and the White House's Homeland Security Council on New Year's Eve [3] - The "Bella" tanker has been under surveillance by the U.S. Coast Guard since December 21, when an attempt was made to board the vessel in the Caribbean [3][4] Group 2 - The U.S. has threatened to impose a maritime blockade on sanctioned oil tankers entering and exiting Venezuela, aiming to cut off the country's energy supply [5] - Experts suggest that Venezuela possesses the technical capabilities to counteract the U.S. blockade, indicating that the political calculations behind the U.S. actions may not succeed [5]

Core Viewpoint - Tesla's dominance in the electric vehicle market has been overtaken by BYD, with Tesla's fourth-quarter deliveries declining by 16% year-on-year, totaling 418,227 vehicles, which fell short of analyst expectations and the company's own targets [1][2]. Group 1: Sales Performance - Tesla's total electric vehicle deliveries for the year reached 1.64 million, while BYD's deliveries were nearly 2.26 million, marking a significant lead for BYD [2]. - In the fourth quarter, BYD's pure electric vehicle deliveries surpassed Tesla's, indicating a shift in market leadership [5]. - Tesla's sales in Europe saw a 39% decline in new car registrations for the first 11 months of 2025, contrasting with BYD's 240% increase in the same region [5]. Group 2: Market Trends - Analysts express growing skepticism about Tesla's sales outlook for 2026, with previous estimates of over 3 million deliveries now adjusted down to approximately 1.8 million [5]. - The introduction of a cheaper version of the Model Y in October may help Tesla regain some market share in the coming quarters, particularly in emerging markets like Thailand, Vietnam, and Brazil, where electric vehicle penetration is rapidly increasing [6]. Group 3: Competitive Landscape - BYD has maintained a competitive edge by selling over 2 million plug-in hybrid vehicles in the past two years, further widening the gap with Tesla [5]. - The overall acceptance of pure electric vehicles in Europe has increased, with these vehicles accounting for about 16% of all new car sales in the region [5].

Core Viewpoint - *ST Rendo's subsidiary, He Libao, has been fined a total of approximately 74.88 million yuan by the People's Bank of China for violations related to payment settlement management and account management [2][5]. Group 1: Penalty Details - He Libao was found to have committed four violations during the inspection period from September 1, 2022, to July 31, 2024, including breaches of clearing management regulations and merchant management regulations [5]. - The total penalty consists of a fine of 62.80 million yuan and the confiscation of illegal gains amounting to 12.08 million yuan, leading to a total of 74.88 million yuan [5]. - This penalty is expected to significantly impact *ST Rendo's net profit for 2025, as it represents approximately 20% of the company's net profit of about 367 million yuan for the first three quarters of 2025 [5]. Group 2: Business Operations and Risks - He Libao holds a payment business license issued by the People's Bank of China and is the main operator of *ST Rendo's third-party payment business, which includes online and offline payment services [6][7]. - The renewal of He Libao's payment license is currently in a "suspended review" status due to the restructuring of its indirect controlling shareholder, Rendo Holdings, which poses a long-term survival risk for the company [6][7]. - *ST Rendo is actively communicating with regulatory authorities to resolve the issues causing the suspension and aims to submit a report for resuming the review once the situation is rectified [7].

这名驻扎在哈德拉毛省的南方过渡委员会的军方人士说，位于该省的南方过渡委员会37旅基 地当天遭到至少3次来自沙特战机的空袭，有人员伤亡。此外，南方过渡委员会部队与沙特支 持的也门政府部队在该省的数个地方激烈交火。 也门政府对南方过渡委员会发起军事行动，对方称将"严厉回击" 也门哈德拉毛省省长萨利姆·汉巴希2日宣布，也门政府对该省的南方过渡委员会发起军事行动。 南方过渡委员会发言人随后表示，将对此"予以严厉回击"。 来源：新华社 消息人士：沙特发起至少3次空袭，也门两方势力激烈交火 也门南方过渡委员会消息人士2日告诉新华社记者，该委员会在哈德拉毛省的目标遭沙特阿拉 伯空袭。 汉巴希在也门国家电视台说， 该行动是为了收复哈德拉毛省的军事设施，维护该省的安全与稳 定。 他强调，此次行动是"和平行动"，不应被视为"战争"或试图升级局势，而应被视为一项"预 防性安全措施"。他表示，此前曾多次尝试通过对话缓和紧张局势，但均告失败。 当天早些时候，也门总统领导委员会主席阿里米任命汉巴希为哈德拉毛省"国家之盾"部队总指 挥。 也门政府一名官员当天告诉新华社记者，也门"国家之盾"部队数百辆车已从沙特阿拉伯边境附近 出发，参加这一 ...

来源：新华社 美国东部时间2日凌晨3时许（北京时间16时许），特朗普在社交媒体上发出上述威胁。数天前，特朗普 还威胁称，如果伊朗试图再度发展其弹道导弹计划，美方将支持以色列再次对伊朗发起打击。 综合伊朗媒体1日报道，伊朗两个省份发生骚乱，已造成至少3人死亡、13人受伤。 自2018年美国宣布单方面退出伊核协议以来，伊朗遭受来自美西方多轮严厉制裁，货币贬值，通胀严 重，经济发展受到严重打击。伊朗塔斯尼姆通讯社日前报道说，伊朗政府经济团队正在召开紧急会议， 讨论处理近期出现在汇率、贸易和民生方面的问题。 右手上明显淤青， 特朗普回应 特朗普威胁要就伊朗骚乱事件进行干涉 美国总统特朗普2日威胁将就伊朗骚乱事件进行干涉，称美国"已做好准备"。 ...

Core Viewpoint - The National Integrated Circuit Fund has increased its stake in SMIC's H shares from 4.79% to 9.25% as of December 29, 2025, indicating a significant investment in the semiconductor industry [1]. Group 1: Investment Details - The National Integrated Circuit Fund's investment in SMIC Southern amounts to approximately $7.778 billion (around 54.3 billion RMB), with $3.577 billion allocated to registered capital and $4.2007 billion to capital reserves [1]. - New shareholders include the National Integrated Circuit Fund Phase III, Taixin Dingji, and the Pioneer Integrated Circuit Fund, holding 8.361%, 5.545%, and 1.063% respectively [2]. - The dilution of shares for the first and second phases of the National Integrated Circuit Fund results in a decrease from 14.562% to 9.392% and from 23.077% to 14.885% respectively [2]. Group 2: Market Performance - On January 2, 2026, SMIC's H shares opened high and closed up by 5.11%, reaching HKD 75.1 per share [4]. - As of December 31, 2025, SMIC's A shares were reported at RMB 122.83 per share, with a decline of 1.96% on that day [6]. Group 3: Company Overview - SMIC is recognized as a leading integrated circuit foundry globally and a key player in China's semiconductor manufacturing sector, providing 8-inch and 12-inch wafer foundry and technology services [3].

来源：新华社 新华社北京1月2日电 据美国《华尔街日报》1日报道，美国总统特朗普近日在接受该报采访 时透露， 自己手背出现大面积瘀青是因为"频繁握手"以及"长期大剂量服用阿司匹林 "。他同 时否认曾多次在内阁会议期间打瞌睡，称自己当时只是在"放松"。 特朗普解释说，手背出现瘀青是因为每天服用阿司匹林，且服用剂量远高于医生建议的标 准，但他"拒绝减少剂量"，称已经坚持服用25年，自己"有点迷信阿司匹林的效果"。 据报道，特朗普每天服用阿司匹林的剂量为325毫克。按照美国梅奥诊所说法，低剂量服用阿 司匹林通常指每天81毫克。 美国总统医生肖恩·巴尔巴贝拉也向《华尔街日报》证实，特朗普当时的确接受了CT检查，目 的是"明确排除任何心血管问题"，结果显示"一切正常"。 "现在回想起来，我真不该做这项检查，这给了他们可乘之机。"特朗普说："如果没做检查， 我会好过得多。因为做过检查这件事本身就会引人猜想，'哦，天哪，是不是出什么问题 了？'结果，什么事都没有。" 特朗普现年79岁，2025年在第二任期就职时创造了美国史上最高龄就职总统纪录。法新社报 道说，无论是频繁与记者互动还是不断在社交媒体发帖，特朗普的政治形象很大 ...