引言： 从1995–2001年的产业变迁，到2013–2015年的改革深化，再到2019–2021年的结构分化，这几轮令人瞩 目的市场活跃期，都发生在经济面临挑战的阶段。这一发现，打破了现场许多投资者的固有认知，也引 出了对市场驱动力的更深层次探讨。 值得关注的是，当前A股市场在政策组合拳的推动下，已展现出强劲的复苏态势。自2024年9月底以 来，上证指数从低位反弹，大盘更是屡创新高。与此同时，权益类基金表现亮眼，超九成基金获得正收 益，部分科技主题基金涨幅巨大，市场赚钱效应显著。 一、打破认知误区：经济增速放缓，市场就没有机会吗？ 不少投资者屡屡错过市场机会，往往源于"经济增速放缓就没有投资机会"的思维定式。活动现场，讲师 从历史维度出发，引导投资者深入理解影响市场的多重因素。历史数据显示，在A股市场历次显著上涨 阶段中，仅2005-2007年的大级别行情发生在经济增速上行期，而多个重要的市场活跃阶段都出现在经 济增速放缓时期： 这些数据表明，经济周期与股市表现很多时候并不同步，多数市场活跃阶段更多与政策面支持、产业转 型等非经济增速因素密切相关。循此逻辑，2024年9月底以来的本轮市场表现，或是政策支持下 ...

Group 1 - The A-share market achieved multiple historical records in 2025, with a significant recovery in market confidence driven by technology and new consumption [2][14] - The total market capitalization of A-shares surpassed 100 trillion yuan in June 2025, and trading volume reached a historical high in August, indicating deep recovery in market participation and confidence [14] - The rise of new consumption, exemplified by successful products like Labubu and the global box office success of "Nezha 2," injected new growth momentum into the consumption sector [14] Group 2 - After the National Day holiday, the market experienced fluctuations, particularly in the technology sector, due to both external factors like the Federal Reserve's interest rate expectations and internal profit-taking [15] - Despite short-term volatility, the core narrative supporting market optimism remains unchanged, with expectations of a reasonably ample domestic liquidity environment and gradual recovery in corporate earnings [15] Group 3 - The market style in 2026 is expected to become more balanced and refined, moving away from being dominated by a single style [16] - The investment focus is anticipated to shift towards AI applications, with a transition from infrastructure to actual applications and commercialization [16] - Companies with solid performance in AI applications, domestic substitution, and overseas expansion are likely to attract market attention due to their high growth potential [16] Group 4 - From a financial perspective, 2026 may exhibit characteristics of "profit handover," with key areas of focus including the "computing power-storage-power-manufacturing" chain and the commercialization of application endpoints [17] - Monitoring order and profit recovery progress will be crucial, alongside attention to supply-side reforms and capital market optimizations [17] Group 5 - The key investment factor in 2026 is expected to be the ability to deliver on fundamental performance, with a shift in market scrutiny towards the quality of earnings growth and sustainability of business models [18] - Companies with core technologies and clear commercialization paths in sectors like AI, pharmaceuticals, and high-end manufacturing are likely to stand out [18] Group 6 - Positive factors include ongoing anti-involution policies improving the corporate profit environment and a long-term trend of asset allocation towards equity markets, potentially leading to substantial incremental capital [19] - The upward trend in industries like AI, semiconductors, and smart vehicles may provide clear investment lines [19] Group 7 - Opportunities are expected to arise in new consumption areas, particularly those integrating AI technology, such as intelligent companionship and interactive entertainment [21] - The AI computing infrastructure and consumer electronics driven by AI innovations are anticipated to see significant growth, alongside the international expansion of healthcare sectors [21]

进入12月，市场在复杂的内外部环境中持续震荡，投资者情绪趋于谨慎，但结构性机会仍存。当前市场 正处在"经济温和复苏、政策稳步发力、流动性整体宽裕"的宏观背景下，总量经济虽非短期市场核心驱 动，但"反内卷"政策推进与PPI转正趋势有望带来量价层面的积极反馈。与此同时，海外AI产业进展、 美联储降息预期以及国内科技自主进程持续成为市场关注的主线。多为基金经理认为，在指数震荡、行 业轮动的市场格局中，应重点关注产业趋势明确、估值相对合理、或具备基本面拐点的方向，比如AI 算力与应用、反内卷相关的周期与制造、新兴消费与服务，以及受益于全球流动性宽松的资源板块。整 体来看，市场在震荡中孕育结构机会，自下而上精选个股仍是当前阶段挖掘超额收益的关键。 吴昊： 当前市场阶段性重回基准情景，跟踪比较产业趋势类资产的行业变化，寻找因市场波动和板块轮动，而 被低估的个股，同时关注海外AI产业进展，以及可能改变国内风险偏好的资金动向。 王睿： 宏观策略：过去两个月全球较大的宏观干扰来自于美联储降息预期，尽管降息的方向比较确定，但降息 节奏的不确定性还是给权益市场、比特币等风险资产带来了较大波动。国内四中全会定调重回经济建设 中心；P ...

Core Insights - The Indian IPO market is experiencing significant activity, driven by domestic investors, with a total of $19.6 billion raised so far this year [1] Group 1 - The fundraising environment in India is described as a "gold rush," indicating a highly competitive and lucrative market for initial public offerings [1] - Domestic investors are playing a crucial role in fueling this surge in IPO activity, highlighting a strong local interest in equity investments [1]

Core Insights - Prudential Advisors continues its growth momentum in 2025 by welcoming Premier Planning Partners, an all-female firm with over $550 million in client assets, enhancing its service capabilities and client support [1][3]. Group 1: Company Growth and Strategy - The addition of Premier Planning Partners aligns with Prudential Advisors' ambitious growth strategy, which has seen the firm welcome new financial advisors representing over $3 billion in client assets and increase advisor headcount by nearly 9% in 2025 [3][4]. - Prudential Advisors aims to expand its presence in the Midwest and is focused on providing resources to ensure exceptional client experiences and practice growth for its advisors [2][3]. Group 2: Client Focus and Services - Premier Planning Partners specializes in serving professional women, small business owners, and financial windfall recipients, utilizing research and data to create customized financial planning strategies [2]. - The firm emphasizes building deep relationships with clients by understanding their motivations and behaviors, which is integral to their service model [2]. Group 3: Infrastructure and Support - Prudential Advisors offers modern infrastructure, technology suite, marketing services, and business development support, which are crucial for Premier Planning Partners to scale their practice and enhance investment solutions for clients [3]. - The client-first, values-driven culture of Prudential Advisors aligns well with the operational ethos of Premier Planning Partners, facilitating a supportive environment for growth [3]. Group 4: Industry Position - Prudential Financial, Inc. manages approximately $1.6 trillion in assets as of September 30, 2025, positioning itself as a global leader in financial services and investment management [6]. - The firm has a strong commitment to expanding access to investing, insurance, and retirement security, which is reflected in its growth strategy and the caliber of advisor teams it attracts [4][6].

智通财经APP讯，保诚(02378)发布公告，于2025年12月5日斥资291.6万英镑回购26.8万股。 ...

保诚(02378)发布公告，于2025年12月5日斥资291.6万英镑回购26.8万股。 ...

格隆汇12月8日丨保诚(02378.HK)发布公告，2025年12月5日耗资291.6万英镑回购26.8万股，每股回购价 10.79-11英镑。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： Prudential plc 保誠有限公司* (* 僅供識別) 呈交日期： 2025年12月8日 第 2 頁 共 7 頁 v 1.3.0 FF305 FF305 確認 不適用 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02378 | 說明 | 普通股每股0.05英鎊 | | | | | | | A. 已發行股份或庫存股份變動 | | | | ...

British insurer Prudential will sell more shares than initially planned in a initial public offering by ICICI Prudential Asset Management Company in India, with the offering set to open for bids next week. ...