Core Viewpoint - JD Group has announced its year-end bonus plan for 2025, with total investment increasing by over 70% year-on-year, attracting significant market attention [2][11]. Bonus Structure - The year-end bonus consists of a fixed year-end bonus and a target year-end bonus, where the target bonus is a multiple of the fixed monthly salary based on annual performance ratings [4][9]. Bonus Amounts - For departments upgraded to 19 salaries, employees with an A+ performance rating will receive a year-end bonus of 10 times their monthly salary, totaling 22 salaries for the year; A-rated employees will receive 9 times their monthly salary, totaling 21 salaries; B+ rated employees will receive 7 times their monthly salary, totaling 19 salaries [10]. - For departments upgraded to 20 salaries, A+ rated employees will receive 12 times their monthly salary, totaling 24 salaries; A-rated employees will receive 10 times their monthly salary, totaling 22 salaries; B+ rated employees will receive 8 times their monthly salary, totaling 20 salaries [10][11]. Employee Coverage - Approximately 92% of JD's employees will receive full or excess year-end bonuses, with the total bonus investment expected to set a record for the industry this year [11]. Salary Upgrade Plans - JD announced a salary upgrade plan in September 2024, aiming to implement a 20-salary structure over two years, with other departments to follow suit [12]. Employee Welfare Initiatives - JD has significantly increased its investment in employee compensation and benefits, having raised employee salary incentives seven times in the past year. The company also provides 100% labor contracts, social insurance, and formal employee benefits for frontline workers [18]. - JD plans to invest 22 billion yuan over the next five years to provide 150,000 housing units for employees, enhancing its housing security system [18].

【导读】王思聪公司名下股权被拍卖，起拍价为10.75万元 中国基金报记者 含章 王思聪名下资产被法拍！ 天眼查显示，近日，大连市中级人民法院发布拍卖公告，将于2026年1月24日10时至2026 年1月25日10时 （ 延时的除外 ） 在大连市中级人民法院京东网司法拍卖网络平台 进行拍卖 活动， 拍卖标的为北京普思投资有限公司名下麦戟文化传播有限公司8%股权。 公告显示，该部分股权价值评估值为-166.62万元，以评估费等必要费用作为该标的起拍 价，起拍价为10.75万元，保证金 为 1万元，增价幅度 为 0.1万元。 公开信息显示， 北京普思投资有限公司 （ 以下简称 普思投资 ） 成立于2009年12月，法定 代表人为王思聪，注册地 位 于北京，注册资本及实缴资本均为2000万元。该公司由王思聪 独资控股，对外投资涉及31家企业，涵盖私募基金、科技公司及房地产开发等领域。 麦戟文化传播有限公司 （ 以下简称 麦戟文化 ） 成立于2017年8月，注册资本 为 1111.11 万元。公司创立初期定位为沉浸式真人互动游戏内容制作商，融合话剧表演与密室逃脱元素 形成独特业务模式。2022年，麦戟文化引入北京普思投 ...

Market Performance - A-shares showed a positive performance on December 25, with the Shanghai Composite Index recording a 0.47% increase, the Shenzhen Component Index up by 0.33%, and the ChiNext Index rising by 0.3% [2] - A total of 3,773 stocks rose, with 93 stocks hitting the daily limit up, while 1,473 stocks declined [3][4] Trading Volume and Activity - The total trading volume reached 19,439.18 billion CNY, with a total of 113,821.2 million shares traded [4] - The increase in the number of rising stocks was 1,040, representing a 38.05% increase in the number of stocks that rose [4] Sector Highlights - The commercial aerospace sector continued its strong performance, with Shenjian Co. achieving six consecutive limit-up days, and over 20 stocks including China Satellite and Shanghai Port Bay hitting the daily limit up [4] - The robotics sector also saw a collective surge, with stocks like Haozhi Electromechanical and Fenglong Co. experiencing limit-up days [5] Silver Fund Performance - The only "pure silver" fund in the A-share market, Guotou Silver LOF, hit the daily limit down on December 25, following a significant price drop after a period of high premium [6][7] - The fund had previously seen a cumulative increase of nearly 220% this year, while the Shanghai Futures Exchange silver futures rose approximately 128% [9] - The premium of the fund relative to its underlying assets reached close to 62%, up from about 7% earlier in the month, indicating a strong contraction in premium due to profit-taking by arbitrageurs [9]

【导读】海通老将左秀海任国泰海通资管副总裁 中国基金报记者 孙越 12 月 25 日，国泰海通资管发布高级管理人员变更公告，宣布聘任左秀海为公司副总裁，任 职日期自 2025 年 12 月 24 日起。公告显示，此次人事调整已通过公司第二届董事会第七 十次会议审议，并将按规定履行备案程序。 | 新任高级管理人员职务 副总裁 | | | --- | --- | | 新任高级管理人员姓名 左秀海 | | | 是否经中国证监会核准取得高管任职 | | | 资格 | | | 中国证监会核准高管任职资格的日期 | | | 任职日期 | 2025-12-24 | | | 十天皇 [] [ ] [ ] ] [ ] ] [ ] [ ] ] [ ] ] [ ] ] [ ] ] [ ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] [ ] ] [ ] ] ] [ | 左秀海拥有 17 年证券从业经验。公开资料显示，左秀海 2008 年 5 月入职华宝证券有限责 任公司担 ...

商务部回应美封锁进出委内瑞拉受制裁油轮：坚决反对"长臂管辖" 针对美国近期下令封锁进出委内瑞拉的所有受制裁油轮，商务部新闻发言人何咏前25日在例行新闻发布 会上表示，中方一贯坚决反对有关国家滥施单边制裁和所谓的"长臂管辖"，随意拦截他国油轮不仅可能 扰动国际能源市场正常运行，还有可能引发其他安全风险。发布会上，有记者问：美国近期下令封锁进 出委内瑞拉的所有受制裁油轮，并已经拦截了三艘油轮。中国是委内瑞拉原油的主要买家之一，请问此 举将对中委原油贸易产生什么影响？中国商务部对美国此举有何回应？何咏前作出上述回应。 何咏前还表示，委内瑞拉同其他国家在国际法框架内开展经贸合作是正常的，也是合理、合法的，这一 权利应当得到尊重和支持。 来源：新华社 商务部新闻发言人何咏前25日在回答关于美宣布对部分中国半导体产品加征301关税的有关 提问时说，中方注意到有关情况，已通过中美经贸磋商机制向美方提出严正交涉。中方不认 同美方301调查的所谓结论，坚决反对美对华半导体产品加征301关税。 在商务部当天举行的例行新闻发布会上，有记者问：美东时间12月23日，美国贸易代表办公 室发布针对中国半导体政策301调查结果，宣布对部分 ...

今年 9 月 1 日，携程与柬埔寨国家旅游局签署营销合作协议。协议内容：甲方（柬埔寨国家 旅游局）委托乙方（携程）在乙方关联机构发布广告服务。合作期限： 2025 年 9 月 1 日至 2026 年 3 月 31 日。协议原计划于柬埔寨对华免签后上线广告内容，基于中国驻柬埔寨大 使馆近期发布的安全提醒，我司第一时间暂停了原定的投放动作，合作未曾启动。携程承 诺：该协议不涉及任何数据合作，绝不存在泄露用户隐私信息的情况，并已将合作协议及实 际情况提交相关部门验证核查。 携程高度重视数据与信息安全建设，相关工作已获得多项权威认可：包括 ISO27001 信息安 全管理体系认证、 ISO27701 隐私信息管理体系认证、通信网络安全防护三级备案以及公安 网络安全等级保护三级备案。此外，公司每年还接受相关部门组织的网络数据安全风险评 估， 2025 年已于 10 月完成通过。 携程始终珍视用户的信任与支持，未来将继续以更严格的标准落实数据安全主体责任，为广 大用户创造安全、放心的出行环境。 【导读】携程发布声明：与柬埔寨营销合作未启动，没有泄露用户隐私 中国基金报记者 忆山 12 月 25 日，携程发布关于用户关切问 ...

Core Viewpoint - The article discusses the measures implemented by the Shanghai Municipal Government to support the construction of the G60 Science and Technology Innovation Corridor, aiming to upgrade it to a "world-class" level and create a high ground for industrial innovation [4][19]. Group 1: Building a Technology Innovation Source - The measures focus on four main areas: building a technology innovation source, creating world-class industrial clusters, nurturing a first-class international innovation ecosystem, and sharing technology innovation resources [5][19]. - A total of 23 measures will be implemented starting from January 1, 2026, until December 31, 2030 [5][82]. - Support for application-oriented basic research will be provided, with funding up to 30% of total investment, capped at 30 million yuan [9][23]. - Establishment of a multi-party investment mechanism to support market-oriented applied research and accelerate breakthroughs in disruptive and frontier technologies [6][23]. Group 2: Creating World-Class Industrial Clusters - The initiative aims to accelerate the development of modern industrial clusters, including advanced manufacturing and strategic emerging industries, with financial support of up to 20 million yuan [11][39]. - Specific support for the new generation of electronic information industry includes funding of up to 15% of total investment, with a maximum of 50 million yuan for key projects [12][42]. - The aerospace industry will receive similar support, with funding for satellite manufacturing and commercial operations, including a one-time reward of 50 million yuan for companies obtaining relevant licenses [12][45]. Group 3: Nurturing a First-Class International Innovation Ecosystem - The measures emphasize the establishment of high-quality incubation platforms for hard technology enterprises, with support for joint efforts in technology validation and testing [14][58]. - Financial mechanisms will be improved to support innovation investments, including risk-sharing and interest subsidy mechanisms [14][60]. - Talent support will be enhanced, focusing on the integration of education and technology talent development, and facilitating the introduction of high-level talent [14][62]. Group 4: Sharing Technology Innovation Resources - The article highlights the need for optimizing the layout of innovation spaces and establishing a comprehensive transportation system to facilitate resource sharing [16][69]. - There will be efforts to promote the open sharing of technology resources, including major research infrastructure and scientific data [17][73]. - Establishment of a special fund for the G60 Science and Technology Innovation Corridor to ensure effective management and performance evaluation [19][81].

此外，2025年1至11月，全国累计完成电力市场交易电量占全社会用电量比重63.7%，同比提高1.3个百分点。从交易范围看，省内交易电 量45830亿千瓦时，同比增长6.3%；跨省跨区交易电量14470亿千瓦时，同比增长12.1%。从交易品种看，中长期交易电量57687亿千瓦 时；现货交易电量2613亿千瓦时。绿电交易电量2967亿千瓦时，同比增长41.3%。 新华社北京12月25日电（记者王悦阳）记者12月25日从国家能源局获悉，2025年1至11月，全国累计完成电力市场交易电量60300亿千 瓦时，同比增长7.6%。 其中，2025年11月，全国完成电力市场交易电量5484亿千瓦时，同比增长7%。从交易范围看，省内交易电量4243亿千瓦时，同比增长 5.7%；跨省跨区交易电量1241亿千瓦时，同比增长11.8%。从交易品种看，中长期交易电量5206亿千瓦时；现货交易电量278亿千瓦 时。绿电交易电量336亿千瓦时，同比增长42.8%。 来源：新华视点 ...

【导读】昨日股票 ETF 市场净流入近 143 亿元，中证 A500 指数近五日爆买近 550 亿元 中国基金报记者 李树超 12 月 24 日， A 股全天走强，三大指数集体上扬。结构上，商业航天概念股集体爆发，算力硬件股延续强势，福建板块走强。 市场走强背景下，资金借道股票 ETF 再度加仓，昨日股票 ETF 市场资金净流入近 143 亿元， 中证 A500 指数净流入居前，华夏、易方 达、华泰柏瑞、南方、广发基金旗下中证 A500ETF 净流入均超 20 亿元，近五日该指数净流入资金近 550 亿元。而芯片 ETF 、军工 ETF 等行业主题 ETF 净流出居前。 昨日股票 ETF 市场净流入近 143 亿元 Wind 数据显示，截至 12 月 24 日，全市场 1284 只股票 ETF （含跨境 ETF ）总规模达 4.74 万亿元。 在昨日股市大涨行情中，股票 ETF 市场总份额增加 84.95 亿份，按照区间成交均价测算，净流入资金达 142.94 亿元。 从大类型来看，昨日宽基 ETF 与债券 ETF 净流入居前，分别达 171.76 亿元与 134.62 亿元。规模变化方面，宽基 ETF 规模 ...

Core Viewpoint - The article discusses the recent performance of the Guotou Silver LOF fund, which experienced a rapid decline after a period of significant price increase, highlighting the volatility and risks associated with high premium rates in the market [2][5]. Market Performance - On December 25, Guotou Silver LOF resumed trading at 10:30 AM and quickly hit the daily limit down, with a market price of 2.804 yuan and a premium rate of 45.45% [2][3]. - The fund's previous closing price on December 24 was 3.116 yuan, reflecting a premium rate of 68.19% [5]. - The fund's trading volume reached 2.2 billion yuan, with a turnover rate of 8.31% [3]. Fund Characteristics - Guotou Silver LOF is the only fund primarily investing in silver futures, which has attracted significant market interest, leading to multiple announcements regarding premium risks and trading suspensions since December 2 [5]. - The fund's A-class share subscription limit is currently set at 500 yuan, with adjustments made to manage investor interest [5]. Investor Behavior - There has been a notable trend of investors sharing arbitrage strategies related to the silver fund, with some reporting profits from trading based on premium fluctuations [5].