Core Viewpoint - On December 23, the A-share market experienced slight fluctuations with all three major indices closing in the green, and the total trading volume in the Shanghai and Shenzhen markets reached approximately 1.90 trillion yuan. The overall market saw a net inflow of over 38 billion yuan into stock ETFs, indicating continued investor interest in certain sectors, particularly the A500 index and thematic ETFs related to technology and industry [2][4][8]. Group 1: ETF Market Performance - On December 23, the total scale of stock ETFs in the market reached 4.70 trillion yuan, with a trading volume of 1,935.61 billion yuan, slightly down from the previous trading day [4]. - The A500 ETF from Huatai-PB led the trading volume with 14.71 billion yuan, followed by other A500 ETFs from Huaxia and Southern, each exceeding 12.67 billion yuan [4][10]. - The battery sector led the gains among stock ETFs, with the top ten ETFs in terms of daily increase all related to lithium batteries or battery-related sectors, showing increases of over 2% [4][6]. Group 2: Sector-Specific Inflows and Outflows - The A500 index saw a significant net inflow of 133.6 billion yuan, while the gold sector also attracted 20.7 billion yuan, indicating strong interest in these areas [8][9]. - Conversely, the satellite and general aviation ETFs performed poorly, with several products experiencing declines of over 3% [5]. - A total of 31 stock ETFs saw net inflows exceeding 1 billion yuan, while 27 ETFs experienced net outflows exceeding 1 billion yuan, with the CSI 300 index and other broad-based ETFs being the most affected [10][11]. Group 3: Fund Management Insights - Leading fund companies like E Fund and Huaxia have seen substantial inflows into their ETFs, with E Fund's total ETF scale reaching 840.48 billion yuan, marking an increase of 239.83 billion yuan since 2025 [13]. - E Fund's A500 ETF recorded a net inflow of 31.1 billion yuan, reaching a historical high of approximately 317 billion yuan [13]. - The market is witnessing a divergence, with sectors such as technology growth and resource commodities being highlighted for potential investment opportunities due to improving fundamentals and policy support [15].

Core Viewpoint - The article emphasizes the unique challenges and opportunities faced by Chinese mining companies in South Africa, particularly in the Witwatersrand basin, which holds over 50% of the world's gold resources. The mining environment in South Africa is distinct from other regions, requiring adaptation and integration of local practices and technologies [2][3]. Group 1: Mining Environment and Challenges - The mining industry in South Africa is characterized by deep and hard mineral deposits, with depths commonly ranging from 2000 to 3000 meters, which presents significant technical challenges for Chinese companies accustomed to shallower mines [6][12]. - South Africa has a well-established regulatory framework, including strict certification requirements for mining professionals, making it difficult for Chinese firms to deploy entire teams from China [6][12]. - Recent challenges in South Africa, such as currency fluctuations and security issues, have raised concerns among foreign investors [6][12]. Group 2: Localization Strategy - CAPM has adopted a localized management approach, employing around 2800 local staff while maintaining a small number of Chinese personnel due to visa and policy restrictions [11][12]. - The company has learned to build a capable and trustworthy local management team, which is essential for navigating the unique operational landscape of South Africa [12][18]. - The integration of local and Chinese teams has led to improved operational efficiency, with local teams being responsible for execution while the Chinese team focuses on strategic direction [12][18]. Group 3: Cultural Integration and Innovation - There is a cultural exchange occurring within the CAPM mining operations, with local employees showing interest in Chinese culture and adapting to data-driven work methodologies introduced by their Chinese counterparts [15][17]. - The collaboration has led to innovative practices, with local teams adopting more analytical approaches to decision-making, moving away from traditional reliance on experience [17]. - The experience gained in South Africa is seen as a model for future international projects, with plans to develop local talent for roles in other overseas operations [17][18].

Market Overview - The A-share market experienced a slight upward trend on December 24, with the Shanghai Composite Index rising by 0.24% to 3929.25, the Shenzhen Component Index increasing by 0.31% to 13410.05, and the ChiNext Index up by 0.08% to 3207.59 [2][3]. Commercial Aerospace Sector - The commercial aerospace sector is witnessing a significant surge, with stocks such as Chaojie Co., Ltd. hitting the daily limit of 20% increase, alongside China Satellite, Xingwang Yuda, and Boyun New Materials also reaching their daily limits [6][9]. - Blue Arrow Aerospace has completed its IPO guidance work, marking a significant step in its journey in the capital market. Established in 2015, it focuses on the development and operation of medium to large launch vehicles using liquid oxygen and methane propellants [9][10]. Recent Launches - On December 23, the Long March 12A rocket successfully completed its maiden flight, achieving its secondary orbit target, although the primary rocket recovery did not meet expectations. This mission is crucial for accumulating valuable data and practical experience for future technology iterations [10]. Autonomous Driving Sector - The autonomous driving sector is also showing strong performance, with stocks like Xingwang Yuda and Hezhong Shizhuang reaching their daily limits, while Zhejiang Shibao, Yatai Shares, and Beidou Xingtong are also experiencing gains [11][12]. - On December 23, Beijing issued the first batch of L3-level special license plates for autonomous vehicles, indicating progress in the regulatory framework for autonomous driving [14]. Sector Performance - The commercial aerospace concept stocks are leading the market, while sectors such as environmental protection, military industry, and intelligent driving are also performing actively. In contrast, coal, food, and insurance sectors are experiencing fluctuations [3][4].

来源： 新华社 修订后的治安管理处罚法将于2026年1月1日起施行。近期，一些网络媒体、网友等对治安管 理处罚法第136条规定比较关注，提出了一些疑问。就此，记者联系全国人大常委会法制工作 委员会发言人办公室，希望法工委对网络舆情反映的一些关切和问题给予必要说明。法工委 有关负责人从以下五个方面作出了说明和回应。 治安违法记录封存是一种对治安违法信息进行管控的措施，不是一种处罚措施。实行治安违 法记录封存制度，目的是对治安违法信息进行必要的管控和规范，减少和避免被处罚人"一次 受罚、终身受限"。封存不是消除、删除记录，有关违法信息仍然记录在案，但不得随意查 询、提供或者披露。第136条规定予以封存的记录不得向任何单位和个人提供或者公开，同时 规定了两类例外情形：一是有关国家机关为办案需要查询的除外；二是有关单位根据国家规 定进行查询的除外。第136条还规定，依法进行查询的单位，应当对被封存的违法记录的情况 予以保密。 四、关于治安管理处罚法与刑法两个法律的适用关系 一、关于治安管理处罚法修订草案审议和第136条规定形成的有关情况 2023年8月，十四届全国人大常委会第五次会议对治安管理处罚法修订草案进行初次审 ...

Core Viewpoint - Hangzhou Yundeshuchu Technology Co., Ltd. has initiated its IPO counseling process, joining the ranks of the "Six Little Dragons of Hangzhou," with three companies already pursuing IPOs [2][3]. Group 1: Company Overview - Yundeshuchu Technology was established on November 29, 2017, with a registered capital of 8.234958 million yuan [6][7]. - The company focuses on embodied intelligence technology innovation and industry applications, specializing in quadruped robots, humanoid robots, and core components [7]. - The controlling shareholder and actual controller is Zhu Qiuguo, who holds 16.39% of the shares directly and, along with his associates, controls a total of 32.60% of the company [6][7]. Group 2: IPO Counseling Process - The company signed a counseling agreement with CITIC Jianan Securities Co., Ltd. on December 8, 2025, and the counseling period is set from December 2025 to June 2026 [5]. - The fundraising direction and other investment project plans will be determined between February and March 2026, with a submission for counseling acceptance to the Zhejiang Securities Regulatory Bureau planned for April to June 2026 [5]. Group 3: Recent Developments - In 2025, Yundeshuchu Technology launched the quadruped robot "M20" and the industry-level humanoid robot "DR02," and established an embodied intelligence pilot base [8]. - The company accelerated its financing process, completing a C-round financing of over 500 million yuan on December 9, 2025, aimed at supporting technology research and development, capacity expansion, and market development [10][12]. - The company underwent a share reform on October 31, 2025, changing its market entity type from "other limited liability company" to "other joint-stock company (non-listed)," indicating preparations for its IPO [12][13].

12月24日，A股市场开盘微涨，上证指数报3920.35点，涨0.01%；深证成指、创业板指涨 0.07%。盘初市场冲高回落，截至发稿，上证指数、深证成指微红，创业板指飘绿。 | 3920.75 | ---------- | 13382.97 | 3201.86 | | --- | --- | --- | --- | | 上证指数 +0.02% | | 深证成指 +0.10% | 创业板指 -0.10% | 盘面上，玻璃纤维、锂电、存储芯片等近期热点保持活跃，海南自贸港、光模块等概念股回 调。 【导读】存储芯片板块盘初走强，胜通能源走出9连板，沪银主力合约涨超7% 中国基金报记者 晨曦 大家好！来一起关注最新的市场行情和资讯～ | 玻璃纤维 3.14% | 锂电电解液 2.58% | 两岸融合 2.48% | 血液制品 2.37% | | --- | --- | --- | --- | | | Wind热门概念指数 | | | | 充电桩 2.20% | 锂矿 1.83% | 液冷服务器 1.76% | 智能言箱 1.75% | | --- | --- | --- | --- | | 苹果 1.70% | 射 ...

威海市公安局表示，现依法对简文昇、陈顺进悬赏追捕，请广大群众积极提供线索，凡向公安 机关提供有效线索的举报人，以及配合公安机关抓获相关犯罪嫌疑人的有功人员。该局将视情 给予5万元至25万元人民币的奖励。 来 源：央视新闻 国务院台办24日举行例行新闻发布会，有记者问：公安机关今日（24日）发布悬赏通告，依法 征集台湾居民简文昇、陈顺进操控多哥籍"宏泰58号"等船只，长期向大陆走私冻品违法犯罪线 索。今年2月，民进党当局曾指"宏泰58号"误损台海缆事件是大陆方面"蓄意破坏"，进行"灰色 地带袭扰"。请问对此有何评论？ 国务院台办发言人彭庆恩表示，经公安机关侦查，台湾居民简文昇、陈顺进2人系走私惯犯， 操控"宏泰58号"等船只，长期向大陆走私冻品。目前公安机关已对该2人发出悬赏通告，希望 两岸同胞积极提供违法犯罪线索，有关方面将严格依法保护举报人信息和合法权益。 彭庆恩指出，今年2月发生的"宏泰58号"事件，实为简、陈2人在操控"宏泰58号"船从事走私犯 罪。民进党当局罔顾案件事实，恶意炒作大陆"灰色地带袭扰"，企图挑起两岸对立对抗。正告 民进党当局，庇护纵容走私犯罪并借机进行政治操弄破坏两岸关系，必将遭到两岸同 ...

Market Overview - The Hong Kong stock market experienced a pullback on December 23, with all three major indices closing lower: the Hang Seng Index down 0.11% at 25,774.14 points, the Hang Seng Tech Index down 0.69% at 5,488.89 points, and the Hang Seng China Enterprises Index down 0.29% at 8,913.83 points [4][5] - The total trading volume in the Hong Kong market was HKD 157.1 billion, with a net inflow of HKD 600 million from southbound funds [4][5] Sector Performance Non-ferrous Metals - The non-ferrous metals sector showed a significant pullback, with several stocks declining: China Nonferrous Mining down 3.77%, China Daye Nonferrous Metals down 3.12%, and China Silver Group down 2.74% [7][8] - The overall trend for the non-ferrous metals sector was characterized by a high opening followed by a decline, despite international gold prices reaching new highs above USD 4,500 per ounce [7] Electrical Sector - The electrical sector performed strongly, with notable gains: Dongfang Electric surged over 8%, Harbin Electric up 5.04%, China High-Speed Transmission up 2.03%, and Shanghai Electric up 1.02% [10][11] - Analysts from Citigroup indicated that Dongfang Electric is in discussions with U.S. data center clients regarding potential sales of gas turbine generator sets, driven by strong demand in the U.S. market [10] Banking Sector - The domestic banking sector saw widespread gains, with Huishang Bank, Agricultural Bank of China, Bank of China Hong Kong, and Bohai Bank all rising over 1% [12][13][14] New Listings - On December 23, Qingsong Health Group debuted on the Hong Kong Stock Exchange, closing up 158.82% after a previous day’s dark pool trading increase of 127.95% [15][16] - Qingsong Health Group, established in 2014, focuses on comprehensive health management services and health insurance solutions, having raised over USD 100 million through multiple funding rounds [16][17]

中国基金报记者 储是 隔夜美股市场，标普500指数创新高。英伟达领涨科技股，市值重回4.6万亿美元。继黄金、 白银后，铜价也创下新高 。 标普500指数创新高 美东时间12月23日（周二），美股盘中持续走强，三大指数均收涨，其中标普500指数收于 新高。 截至收盘，标普500指数上涨0.46%，报6909.79点；道琼斯指数上涨0.16%，报48442.41 点；纳斯达克综合指数上涨0.57%，报23561.84点。 | 美股指数 它 | | | | --- | --- | --- | | 道琼斯 | 纳斯达克 | 标普500 | | 48442.41 | 23561.84 | 6909.79 | | +79.73 +0.16% | +133.01 +0.57% | +31.30 +0.46% | | 中国金龙指数 | 纳指100期货 | 标普500期货 | | 7638.99 | 25811.50 | 6958.00 | | -44.27 -0.58% | +119.25 +0.46% | +27.75 +0.40% | 日内，美国总统特朗普表示，不同意他观点的人永远不会成为美联储主席。他希望新任美联 储主 ...

来源：新华社、彭泽公安 2025年12月23日16时许,彭泽县定山镇响水 村乡村道路发生一起车辆落水单方事故。接到报警后, 公安、消防、医疗等部门第一时间赶赴现场开展救援。 经查,罗某某(女,49岁,彭泽县人)驾车行驶至事 发路段时坠入路边池塘,造成包括罗某某等车内 8人 死亡。目前,事故调查、善后处置等工作正在进行中。 彭泽县公安局 2025 年 12月 24 日 医药巨头，突然暴涨 江西 彭泽县通报一车辆坠水致8人死亡事故 江西 省彭泽县公安局24日发布警情通报：2025年12月23日16时许，彭泽县定山镇响水村乡 村道路发生一起车辆落水单方事故。接到报警后，公安、消防、医疗等部门第一时间赶赴现 场开展救援。经查，罗某某（女，49岁，彭泽县人）驾车行驶至事发路段时坠入路边池塘， 造成包括罗某某等车内8人死亡。目前，事故调查、善后处置等工作正在进行中。 警 情 通 报 ...