Market Overview - The U.S. stock market showed mixed results with the Dow Jones index falling by 0.58% to 49,098.71 points, while the S&P 500 index rose by 0.03% to 6,915.61 points, and the Nasdaq index increased by 0.28% to 23,501.24 points [1] - For the week, the Dow Jones index declined by 0.58%, the S&P 500 index fell by 0.35%, and the Nasdaq index decreased by 0.06% [2] Geopolitical and Economic Factors - The U.S. House of Representatives passed a funding bill for fiscal year 2026, which was signed by President Trump, reducing the risk of a government shutdown at the end of January. However, a vote on a temporary spending bill in the Senate was delayed due to a snowstorm, keeping the risk of a shutdown alive [2] - The Trump administration announced a 25% tariff on all countries trading with Iran, coinciding with military movements towards Iran, escalating geopolitical tensions and potentially increasing market risk aversion [2] Economic Indicators - The one-year inflation expectations in the U.S. for January were lower than expected, and the manufacturing PMI preliminary reading was slightly below expectations, while the services PMI preliminary reading was flat, indicating a divergence in economic recovery momentum that may pressure market sentiment [3] Company-Specific News - Intel, a major chip manufacturer, saw its stock plummet by 17% to $45.085, with a total market capitalization of $22.52 billion, following a weak earnings guidance for the first quarter [4][5] - Intel's CEO, Pat Gelsinger, stated that the company is unable to meet the full market demand for its products and that production yields did not meet expected targets [7] - Citigroup lowered Intel's target stock price from $50 to $48 [8] Precious Metals Market - Precious metals continued to surge, with gold, silver, and platinum reaching historical highs amid rising geopolitical tensions and a weak dollar. Gold prices exceeded $4,990, marking an over 8% increase for the week, while silver and platinum rose over 14% and nearly 19%, respectively [9][10] - As of the latest report, COMEX gold was up 1.42% at $4,983.1 per ounce, COMEX silver rose 7.15% to $103.26 per ounce, and spot platinum increased by 2.7% to $2,704.3 per ounce [10]

图源：中国足协微博 范普维尔德曾在2018年底受聘成为中国足协首位外籍技术总监，并于2022年6月因个人原因 不再与中国足协续约。 他还曾担任比利时足协技术总监、摩洛哥足协技术总监等职务，在国家足球技术发展总体设 计、男女足国家队建设、青少年足球发展、教练员培养等方面具有丰富经验。 中国足协表示，范普维尔德未来将重点聚焦中国足球技术发展路线设计、国家队技战术水平提 升、青训体系顶层设计、教练员培养体系完善、技术发展国际事务联络及天赋青少年球员海外 发展等领域。 来源：新华社 中国足协再度聘任范普维尔德担任技术总监 中国足协23日宣布，根据中国足球中长期技术发展的规划，以及协会工作实际需要， 再次聘 任比利时人克瑞斯·范普维尔德担任中国足协技术总监。 ...

【导读】白银还在涨！ 中国基金报记者 泰勒 兄弟姐妹们啊，今晚又见证历史了。 白银突破 100美元 /盎司整数关口 1月23日晚间，纽约白银期货、伦敦现货白银双双突破100美元历史性关口！ 白银去年上涨约147%，主要受强劲需求、金属精炼产能扩张受限，以及市场持续供给短缺推动。 分析师表示，地缘政治紧张、美元整体偏弱、以及市场对美联储今年将转向宽松的预期，都是宏观层面去美元化趋势的一部分， 并仍在影响黄金需求。"白银的基本面叙事比黄金更有说服力……或许它不像黄金那样是储备资产，但它同样受益于避险资金流入 以及美元走弱" 。 英特尔股价暴跌 23日晚间，美股三大指数涨跌不一。道指下跌，纳指以及标普500指数上涨。 芯片巨头英特尔股价暴跌15%。 | 最高: 48.13 | 今开:46.86 | 成交量: 1.38亿股 | 换手: 2.76% | | --- | --- | --- | --- | | 最低:44.84 | 昨收:54.32 | 成交额:63.99亿 | 振幅: 6.06% | | 52周最高: 54.60 | 量比: 3.89 | 市盈率(TTM)：亏损 | 市净率:2.01 | | 52周最低 ...

Core Viewpoint - Wang Huaiqing has been elected as the new chairman of Huatai Securities, marking a significant leadership change within the company [6][8]. Group 1: Leadership Changes - The first meeting of the seventh board of directors of Huatai Securities confirmed the election of Wang Huaiqing as chairman, with a term of three years starting from the approval date [6][10]. - The new management team includes Jiang Xiaoyang as chairman and Zhu Qian as general manager of Huatai Asset Management [6][14]. - Wang Huaiqing has extensive experience in finance and state-owned enterprise management, having worked in various roles within the Jiangsu provincial government and financial institutions [6][11]. Group 2: Board Structure - The new board of directors includes several specialized committees, with Wang Huaiqing serving as the chair of the Development Strategy Committee [10]. - The executive team retains Zhou Yi as CEO, who has been in the role since 2019 and has driven the company's digital transformation strategy [10][11]. - The new executive committee members have long tenures within the company, indicating a deep understanding of its culture and business model [11]. Group 3: Capital Increase for International Expansion - The board approved a capital increase of up to 9 billion HKD for Huatai International Financial Holdings to support overseas business development [12][13]. - This move is seen as a strategic step to enhance Huatai Securities' international business footprint amid increasing competition in the domestic market [12][13]. Group 4: Huatai Asset Management Updates - Huatai Asset Management has completed personnel adjustments, with Jiang Xiaoyang appointed as chairman and Zhu Qian as general manager [14][15]. - The asset management division has shown strong performance, achieving a revenue of 1.21 billion CNY and a net profit of 713 million CNY in the first half of 2025, with a management scale of 627.03 billion CNY, reflecting a year-on-year growth of 23.92% [16].

Core Viewpoint - Longyun Co., Ltd. plans to acquire 58% equity of Yuheng Film and Television Group through a share issuance, which is expected to constitute a major asset restructuring and related party transaction [2][7]. Group 1: Acquisition Details - On January 23, Longyun Co., Ltd. announced the signing of a cooperation intention agreement with Shanghai Bingchang and Duan Zekun to acquire 58% of Yuheng Film and Television's equity [9]. - After the completion of the transaction, Yuheng Film and Television will become a wholly-owned subsidiary of Longyun Co., Ltd. [9]. - The shareholders of Yuheng Film and Television include Shanghai Bingchang (57.55%), Longyun Co., Ltd. (42%), and Duan Zekun (0.45%) [7]. Group 2: Financial Performance - As of January 23, Longyun Co., Ltd.'s stock price was 17.85 yuan per share, with a market capitalization of 16.66 billion yuan, reflecting a 0.45% increase [4]. - In the first three quarters of 2025, Longyun Co., Ltd. reported a revenue increase of 26.42% to 373.03 million yuan, but the net profit attributable to shareholders decreased by 2569.94% to -65.06 million yuan [12][15]. - The decline in net profit is attributed to intensified competition, decreased gross margins, and increased expenses [15]. Group 3: Business Strategy - Longyun Co., Ltd. aims to leverage Yuheng Film and Television's content production capabilities and resources in various media formats to enhance its content marketing services and accelerate business transformation [12]. - Yuheng Film and Television's business includes investments, production, promotion, distribution, and content marketing across multiple formats such as TV dramas, online series, and live broadcasts [12].

中邮证券指出，镍是有色金属中少有的缺席 2024 年至今有色牛市的品种。截至 2026 年 1 月 5 日， 2024 年开始，镍涨幅仅有 3% ，相较于贵金属、铜铝锌等工业金属，以及钴和碳 酸锂等能源金属的涨幅都相差较大，一旦印尼政策使得品种出现供需缺口，或存在一定的高 弹性补涨的可能性。 继金、银、铜、铝之后，上期所又出手了！ 1 月 23 日，上海期货交易所（以下简称上期所）发布通知称，自 2026 年 1 月 27 日（星 期二）收盘结算时起，调整镍、铅、锌等期货相关合约涨跌停板幅度和交易保证金。 相关调整如下：镍期货已上市合约的涨跌停板幅度调整为 10% ，套保持仓交易保证金比例调 整为 11% ，一般持仓交易保证金比例调整为 12% ；氧化铝、铅、锌期货已上市合约的涨跌 停板幅度调整为 8% ，套保持仓交易保证金比例调整为 9% ，一般持仓交易保证金比例调整 为 10% ；不锈钢期货已上市合约的涨跌停板幅度调整为 6% ，套保持仓交易保证金比例调 整为 7% ，一般持仓交易保证金比例调整为 8% 。 | 品种 | 导科 | 涨跌 | 现行标准(%) | | 涨跌 | 调整后标准(%) | | | ...

【导读】中国证监会发布《公开募集证券投资基金业绩比较基准指引》 中国基金报记者 忆山 公募基金业绩比较基准新规正式落地！ 1 月 23 日，中国证监会发布《公开募集证券投资基金业绩比较基准指引》（以下简称《指 引》）。 直击行业痛点 有利于提升投资者获得感 业绩比较基准是管理人基于产品定位和投资目标而为基金设定的业绩参考标准，一般由指 数、合约价格、利率等要素构成，是基金合同的基本要素。从功能作用看，业绩比较基准是 基金投资的 " 锚 " 和 " 尺 " ，发挥确定产品定位、明晰投资策略、表征投资风格、衡量产 品业绩、约束投资行为等重要作用。 但当前我国公募基金在业绩比较基准方面还存在以下问题： 一是法规制度缺乏专门性、系统性的规定，仅在信息披露、特殊产品设计等监管规则有零散 要求，约束力不强。 二是多数管理人尚未建立覆盖业绩比较基准的全链条内控机制，托管、销售等机构也未有效 监督和使用基准。 三是部分主动管理权益类基金业绩大幅偏离业绩比较基准，个别产品甚至出现 " 风格漂移 " ，对投资者获得感造成较大影响。 业内人士表示，《指引》通过强化基准约束，直击 " 风格漂移 "" 基金盲盒 " 等行业痛点， 有利 ...

【导读】安徽证监局发布关于 *ST 立方相关情况的通报 中国基金报记者 忆山 1 月 23 日，安徽证监局发布关于立方数科股份有限公司（以下简称 *ST 立方）相关情况的 通报，提醒 *ST 立方存在重大违法强制退市风险，请广大投资者以公司正式公告内容为准， 理性投资，避免被不实信息误导，造成损失。 股票复牌后涨超 95% 1 月 18 日、 20 日， *ST 立方实控人古某瑭通过媒体发布《致立方数科全体股东的公开 信》《 *ST 立方回应风险提示：多措并举应对挑战 股票 20 日复牌》，公司股价于 1 月 20 日涨停。 安徽证监局：将依法开展监管处置 安徽证监局在 通报中表 示， *ST 立方因 2021 年、 2022 年、 2023 年连续三年年度报告 财务数据涉嫌虚假记载，触及《创业板股票上市规则》关于重大违法强制退市情形的规定， 公司股票可能被强制退市，安徽证监局已于 2025 年 11 月 28 日下发《行政处罚及市场禁 入事先告知书》。 根据告知书， *ST 立方连续三年虚增收入和成本，严重违反证券法律法规，安徽证监局拟对 *ST 立方处以 1000 万元罚款，对汪逸等 10 名责任人合计罚 ...

同时，鉴于余韩操纵证券市场的违法行为情节严重，影响证券交易秩序，证监会对其采取 3 年证券市场禁入措施及 3 年证券市场禁止交易措施。 来看详情 —— 控制使用 67 个账户操纵 " 博士眼镜 " 【导读】自然人余韩使用 67 个账户操纵 " 博士眼镜 " ，被罚没金额超 10 亿元 中国基金报记者 晨曦 重磅罚单来了！ 1 月 23 日，证监会官网公布的一份行政处罚决定书显示，自然人余韩控制使用 67 个账户操 纵 " 博士眼镜 " 股票，最终被监管没收违法所得 5.1 亿元，并处以同等金额的罚款。 在陈述和申辩意见中余韩提出，其不具备操纵市场的主观故意，客观上也没有实施操纵市场 的行为；实际控制账户组的数量认定有误；其实际控制账户组的行为，未对 " 博士眼镜 " 股 票价格产生实质性影响。 违法所得达 5.1 亿元 决定书显示， 2019 年 6 月 25 日至 2024 年 8 月 16 日（操纵期间），余韩控制使用 " 陈某某 " 等 67 个账户交易 " 博士眼镜 " 。 操纵期间，余韩通过集中资金优势、持股优势连续买卖，在自己实际控制的账户之间进行交 易等手段操纵 " 博士眼镜 " ，影响股票交易 ...

来源： "领事直通车"微信公众号 "领事直通车"微信公众号23日消息， 当前，阿富汗安全形势复杂严峻。1月19日，阿富汗首 都喀布尔发生爆炸事件，造成中国公民伤亡。 鉴于阿富汗当前安全形势，外交部和中国驻阿富汗使馆提醒中国公民暂勿前往阿富汗，在当地 中国公民加强安全防范，尽快撤离。 ...