Core Viewpoint - The article discusses the undisclosed agreements and potential changes in control at ST Yinjing, highlighting regulatory actions taken against its major shareholder and the implications for corporate governance [2][4][11]. Group 1: Regulatory Actions - On December 16, the Zhejiang Securities Regulatory Bureau and the Shenzhen Stock Exchange issued warning letters to ST Yinjing's major shareholder, Yinjing Group, and its actual controller, Wang Hui, for failing to disclose several agreements related to voting rights and control [2][4]. - The undisclosed agreements include a cooperation framework agreement and a voting rights delegation agreement, which raise questions about potential changes in actual control [2][4]. Group 2: Financial Agreements - Yinjing Group entered into a loan agreement with Shanghai Yuanzhuo, which included a provision for delegating voting rights of 10.3% of ST Yinjing's shares to Shanghai Yuanzhuo in exchange for financial support to resolve fund occupation issues [4][5]. - A subsequent memorandum stipulated that the voting rights would be delegated based on the actual loan amount, with governance structure changes proposed for the board of directors [5][6]. Group 3: Governance and Disclosure Issues - Board member Peng Xiaoyong raised concerns about the board's failure to disclose the agreements, asserting that the actual control of the company is uncertain and should have been communicated to investors [8][9]. - Despite Peng's submission of the undisclosed agreements to the board, ST Yinjing has not yet made this information public, which raises questions about the board's independence and compliance with disclosure obligations [9][11]. Group 4: Board Restructuring - On December 16, ST Yinjing announced a board restructuring process, nominating candidates for the seventh board of directors, despite ongoing disputes regarding control and governance [13][14]. - Board members Peng Xiaoyong and Cai Yang opposed the restructuring, citing the lack of disclosure regarding the voting rights agreements and the potential infringement on the interests of related parties [14][15].

【导读】五大私募展望 2026 年债市投资机会 中国基金报记者 刘明 站在 2025 年年末，如何看待 2025 年债市变化？ 2026 年债券市场有哪些投资机会？为回 答上述问题，中国基金报采访了多家知名私募投研掌门人。受访私募机构人士包括银叶投资 首席投资官许巳阳，万柏基金创始合伙人、总经理范强华，安佑基金执行董事兼总经理何玉 涛，恒立基金创始人、总经理潘焕焕，以及宁水资本研究总监陈昭斌。 受访私募主要观点如下： 银叶投资首席投资官许巳阳： 2026 年，预计难以看到利率单边下行趋势，长端利率继续宽 幅震荡，长债有阶段性上行风险。利率债市场更看好中短端利率品种表现， 12 月中央经济工 作会议定调货币政策将继续保持适度宽松，有助于短端资产的平稳表现。 万柏基金创始合伙人、总经理范强华： 2026 年，重点看好以下三类品种：一是中短端高等 级信用债，是组合的 " 压舱石 " 。二是转债市场的结构性机遇，部分具备强基本面支撑的偏 债型转债展现出极佳的 " 债底 + 期权 " 属性。三是中资点心债。 安佑基金执行董事兼总经理何玉涛： 2026 年将延续 " 股牛 + 债不熊 " 格局：债市依然 " 上有顶、下有 ...

Core Viewpoint - The new fund issuance in the last week of 2025 saw a decrease, with only 8 new funds launched, all of which are "equity" products, indicating a continued focus on equity funds despite a turbulent market environment [2][5]. Fund Issuance Overview - In the week of December 29 to December 31, only 8 new funds were launched, marking a decline in the number of new fund issuances [2][3]. - The issuance was concentrated on December 29, with 4 funds starting their subscription, while December 30 and 31 saw 2 funds each [4]. - The longest subscription period was for the Qianhai Kaiyuan Xinghe fund, lasting around 3 months, while some funds had a subscription period as short as 1 day [4]. Fund Types and Focus - All 8 new funds are categorized as "equity" products, with 2 being mixed secondary bond funds and the rest being equity funds [6]. - Among the new funds, 4 are index equity funds tracking specific industry indices, focusing on sectors like semiconductor and artificial intelligence [7]. - The active equity funds include the Dachen Hong Kong Stock Hengxin, a QDII mixed fund targeting the Hong Kong market, and the Shanzheng Asset Management Digital Economy fund, focusing on the digital economy sector [7]. Bond Market Trends - The bond market's profitability has weakened, leading to a continued decline in bond fund issuances; however, "fixed income +" funds are still being introduced [8]. - This week saw the launch of 2 mixed secondary bond funds, indicating some activity in the bond fund space despite the overall downturn [8].

大家好，基金君和你继续关注今天的市场行情！ 12 月 29 日上午， A 股三大股指涨跌不一。截至午间收盘，沪指涨 0.31% ，深证成指涨 0.03% ，创业板指跌 0.32% 。 沪深两市半日成交额为 1.4 万亿元，较上个交易日缩量 546 亿元。 个股跌多涨少，全市场 共 1850 只个股上涨， 67 只个股涨停， 3441 只个股下跌。 从板块表现看，化纤行业、石油行业、半导体板块涨幅居前，人形机器人、商业航天概念板 块走高，锂电电解液、零售板块下挫。 【导读】上午三大指数涨跌不一，化纤、石油、半导体板块领涨，人形机器人、商业航天概 念股走高；锂电电解液、零售板块下挫 中国基金报记者 张舟 | | | Wind热门概念指数 | | | | | Wind中国行业指数 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 化学纤维 | PEEK材料 | 储傢钥墨 | 服务器 | 光模块(CPO) | 化纤行业 | 石油天然气 | 发电设备 | 林木 | 燃气 | | 4.20% | 2.91% | 2.03% | 2. ...

【导读】商业航天板块持续活跃，神剑股份 8 连板；锂电股集体下挫； *ST 长药 20cm 跌 停 中国基金报记者 晨曦 大家好！又到周一，来一起关注最新的市场行情和资讯 ~ 12 月 29 日， A 股三大指数开盘涨跌不一，上证指数高开 0.02% ，深证成指平开，创业板 指跌 0.19% 。开盘后，市场持续分化。截至发稿，上证指数涨 0.19% ，创业板指跌 0.83% 。 热门板块中，上午商业航天板块持续火热，神剑股份走出 8 连板；化学纤维、稀土、 GPU 等方向活跃；锂电、动力电池、玻璃纤维、 SPD 等概念股回调。 | 商业航天 | 2249.140 | 0.35% | 7.855 | | --- | --- | --- | --- | | 886078.TI | | | | | 光威复材 | 39.80 - | 14.14% | 4.93 | | 创 300699.SZ | | | | | 斯瑞新材 | 42.78 | 12.94% | 4.90 | | 科创 688102.SH | | | | | 中超控股 | 6.89 | 10.06% | 0.63 | | 002471.SZ | | | ...

Core Viewpoint - The article emphasizes the strategic importance of the "15th Five-Year Plan" period for Shenzhen, highlighting the need for proactive measures to achieve high-quality development and modernization, while addressing both opportunities and challenges in the evolving economic landscape [2][5][6]. Group 1: Achievements During the 14th Five-Year Plan - Shenzhen has made significant progress in high-quality development, solidifying its status as a major economic center, with GDP ranking third among Chinese cities and leading in foreign trade [3][4]. - The city has seen a continuous increase in industrial output, with the total industrial output value and added value ranking first among cities in China for three consecutive years since 2022 [3][4]. - The proportion of advanced manufacturing and high-tech manufacturing in the industrial added value reached 68.2% and 58.2% respectively, while the modern service industry accounted for 76.5% of the service sector's added value [3][4]. Group 2: Development Environment and Challenges - The "15th Five-Year Plan" period presents a complex development environment with both strategic opportunities and risks, necessitating a focus on overcoming bottlenecks and enhancing strengths [6][7]. - Shenzhen's advantages include a robust economic foundation, a complete industrial system, and a large, young population, which are critical for its role as a core engine of the Guangdong-Hong Kong-Macao Greater Bay Area [6][7]. Group 3: Basic Thoughts and Goals for the 15th Five-Year Plan - The guiding ideology for the "15th Five-Year Plan" emphasizes the integration of Marxism with Xi Jinping's thoughts, focusing on high-quality development and the establishment of a modern economic system [8][9]. - Key goals include significant breakthroughs in industrial technology innovation, enhancing the quality of life for residents, and achieving a higher level of social civilization [11][12]. Group 4: Modern Industrial System and Economic Forms - The plan aims to build a modern industrial system centered on advanced manufacturing, promoting the development of emerging industries and optimizing traditional industries [13][14]. - There is a strong emphasis on fostering a robust service industry, including the establishment of a global financial center, consumption center, and logistics center [15][16][17]. Group 5: Innovation and Talent Development - The article highlights the importance of fostering innovation and enhancing the role of enterprises in driving technological advancements, with a focus on building a strong ecosystem for innovation [22][23]. - Talent development is crucial, with initiatives aimed at attracting and nurturing high-level talent to support Shenzhen's growth as a global innovation hub [27][28]. Group 6: Expanding Domestic Demand - The strategy emphasizes the need to boost domestic consumption and investment, aligning with the broader goal of enhancing the domestic market's role in economic development [33][34]. - Efforts will be made to improve consumer spending through various initiatives, including enhancing public services and promoting diverse, high-quality consumption options [34].

一、对拆除事件进行彻查，严肃惩戒违法违规、破坏巴拿马历史文化和社会团结稳定的行为。 来源： 中国驻巴拿马大使馆 据中国驻巴拿马大使馆官微消息， 12月27日深夜，阿赖汉市政府在未作任何事前通知、也未 事先与华人社团进行任何沟通的情况下，不顾现场华侨华人代表的一致反对，悍然强行拆除了 位于美洲大桥观景台的、铭记华人对巴百年贡献和象征中巴人民友谊的中巴公园及华人抵巴 150周年纪念碑。 此举不仅粗暴践踏了巴拿马30万华侨华人同胞的集体感情，也严重伤害了 中国人民对巴拿马人民的友好情谊。 中国驻巴拿马大使馆对此表示极度震惊、强烈愤慨和坚 决反对。 171年前，大量华人远渡重洋来到巴拿马，参与两洋铁路的建设，他们中不少人的尸骨埋在运 河沿岸。此后，华人在巴拿马安家兴业，同其他各个族裔一道，成为这个国家发展进步的重要 力量，成为巴拿马人。为肯定华人对巴拿马的贡献，巴政府于2004年宣布每年3月30日为"华 人日"，充分体现了巴拿马的开放、多元。同年，经过华人社团筹集资金，并在中国政府的资 助下，中巴公园和华人抵巴150周年纪念碑得以落成，这是对历史的尊重。公园和纪念碑不是 任何一个团体、地方政府的财产，而是巴拿马国家的 ...

Group 1 - The article reports that President Trump announced a secret military strike by the U.S. military on a factory in Venezuela on December 24, claiming it resulted in a 97% decrease in drug trafficking [2] - Venezuela has not yet responded to the U.S. military actions, but Trump has threatened to expand operations against alleged drug trafficking groups from sea to land, indicating that ground operations will commence soon [3] - The U.S. military has increased its presence in the Caribbean under the pretext of drug enforcement, gathering significant military assets near Venezuela, including aircraft carriers, fighter jets, transport planes, and drones [4] Group 2 - Venezuelan Foreign Minister Ivan Gil condemned U.S. actions in the Caribbean as a threat to regional and global peace during a meeting of the Community of Latin American and Caribbean States (CELAC) [5] - Gil warned that such aggressive actions not only target Venezuela but also undermine the foundations of the United Nations Charter, posing risks to global stability [6] - The meeting proposed to submit a declaration and implementation documents to member parliaments between January 5 and 11, with plans to formally present it to relevant UN bodies from January 12 to 24 [6]

来源：中国海事微信公众号 1.26-32N 121-40E、26-32N 122-36E、25-43N 122-36E、25-43N 121-40E四点连 线； 2.24-59N 120-04E、25-39N 121-13E、26-17N 121-13E、25-37N 120-04E四点连 线； 3.23-27N 118-14E、23-27N 119-13E、22-13N 119-44E、22-13N 118-45E四点连 线； 4.21-49N 119-16E、21-49N 121-00E、21-05N 121-00E、21-05N 119-16E四点连 线； 5.21-58N 121-40E、21-58N 122-28E、23-23N 122-28E、23-23N 121-40E四点连 线； 6.26-17N 121-13E、25-39N 121-13E、25-43N 121-40E、26-32N 121-40E四点连 线； 7.23-27N 118-14E、24-31N 118-36E、24-31N 119-35E、23-27N 119-13E四点连 线。 军事演习-中国海事航警 中国海事航警，12月3 ...

东部战区海空兵力实施环台岛战备警巡 Naval and Air Forces of PLA Eastern Theater Command Conduct Combat Readiness Patrols Surrounding Taiwan Island 东部战区新闻发言人施毅陆军大校表示，12月29日开始，中国人民解放军东部战区组织海空兵 力实施环台岛战备警巡，舰机多向抵近台岛邻近海空域，旨在检验战区部队快速机动、立体布势、 体系封控能力。 来源：东部战区 ■ 中国基金报内容矩阵 ■ 巅峰对话 投资热点说 ETF风向标 IPO情报站 fe o 1 ■ a a - 444 and 4 4 CHINAFUND CHINAFUND CHINAFUND CHINAFUND 开盘速递 港股日报 全球早班车 数说人物 √ � [ 8 a 4 a g a d 4 4 4 CHINAFUND CHINAFUND CHINAFUND CHINAFUND ●微信搜一搜( 〔 〔 中国基金报 〕即刻获取财经资讯 Senior Colonel Shi Yi, spokesperson of the PLA Eastern The ...