Core Viewpoint - Gallium Nitride (GaN) technology is becoming a key enabler for the performance revolution in the next generation of robotics, addressing the core demands of lightweight, high responsiveness, and high energy efficiency in robotic joints [1] Group 1: GaN Technology Benefits - GaN-based servo drivers can achieve a volume reduction of approximately 50% [1] - Power loss can be reduced by 50% to 70%, leading to more compact joint designs, longer endurance, and more agile motion control for robots [1] Group 2: Investment Recommendations - Attention is recommended towards leading domestic suppliers that can assist overseas manufacturers like Tesla in gradually reducing costs [1]

Core Viewpoint - The article discusses the recent developments in the CITIC Securities asset management default case, highlighting a court ruling that requires CITIC Securities to compensate Fuanna for losses incurred from a failed investment product [1][5]. Group 1: Legal Proceedings - On December 25, Fuanna announced it had filed a lawsuit against CITIC Securities and China Merchants Bank Guangzhou Branch regarding a financial trust contract dispute, receiving a first-instance judgment that mandates CITIC Securities to compensate Fuanna for a principal loss of 29.3 million yuan [2][5]. - The court ruling states that CITIC Securities must pay Fuanna within 10 days of the judgment's effectiveness, and any subsequent recovery from the asset management plan will be split equally between Fuanna and CITIC Securities [5]. Group 2: Investment Details - In 2021, Fuanna invested 120 million yuan in a customized asset management plan from CITIC Securities, which defaulted on repayment after its maturity in March 2022 [3]. - The main holdings of the investment included products from Dongfanghong Money B and Beida Resources Hangzhou Haigang City, the latter being associated with a well-known "unfinished building" project that has defaulted [3]. Group 3: Financial Impact - As of the end of 2024, Fuanna had withdrawn 14.3023 million yuan from the management account of the investment product, with a remaining principal of 105.6977 million yuan and expected fixed income yet to be recovered [4]. - CITIC Securities reported that the net asset value of the investment product was 77.7261 million yuan at the end of 2024, and Fuanna has recognized a total impairment of 27.9716 million yuan related to the overdue amounts [4]. Group 4: Clarifications and Market Reactions - Following the default incident, there were market rumors suggesting that CITIC Securities might only act as a channel for the investment, which Fuanna clarified was untrue, asserting that CITIC was the actual investment manager and that there were no connections to the underlying assets [6].

本次保荐代表人变更后，公司向不特定对象发行可转换公司债券项目持续督导的保荐代表人为石祎弓先 生和章洪量先生，持续督导期至中国证券监督管理委员会和上海证券交易所规定的持续督导义务结束为 止。 公司董事会对保荐代表人汤鲁阳先生在持续督导期间所做的贡献表示衷心的感谢！ 特此公告。 证券代码：688678 证券简称：福立旺 公告编号：2025-073 转债代码：118043 转债简称：福立转债 福立旺精密机电（中国）股份有限公司 关于变更持续督导保荐代表人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 福立旺精密机电（中国）股份有限公司（以下简称"公司"）于近日收到中信证券股份有限公司(以下简 称"中信证券")出具的《关于更换持续督导保荐代表人的函》。 中信证券作为公司向不特定对象发行可转换公司债券项目的保荐人，原委派汤鲁阳先生、石祎弓先生作 为持续督导保荐代表人。 保荐代表人汤鲁阳先生因工作变动原因，不再担任公司持续督导的保荐代表人。为保证持续督导工作的 有序进行，中信证券现委派章洪量先生接替汤鲁阳先生继续履行持续督导责 ...

来源：江苏经济报 责任编辑：刘万里 SF014 来源：江苏经济报 责任编辑：刘万里 SF014 ...

Core Viewpoint - The 2025 Shenzhen Financial Innovation Competition aims to enhance the financial services of local institutions and promote Shenzhen as a globally influential financial center, showcasing the innovation level of the financial industry in Shenzhen [1][4]. Summary by Category Competition Overview - The competition was announced in September 2025, receiving submissions from 113 units with a total of 173 projects [4]. - After various evaluation stages, 30 projects were selected for awards, including 3 first prizes, 6 second prizes, 12 third prizes, 3 most potential awards, 3 best growth awards, and 3 innovation breakthrough awards [4]. Awarded Projects - **First Prize Projects**: - Financial model full-stack self-research technology system and scenario construction project by China Merchants Bank and WeBank [6]. - Hong Kong-Shenzhen cross-border data verification platform [6]. - Agricultural insurance prevention and rescue system based on data elements by Ping An Property & Casualty Insurance [6]. - **Second Prize Projects**: - Cross-border wealth management navigation plan by China Merchants Bank Wealth Management [6]. - New generation derivative rapid trading platform for global markets by CITIC Securities [6]. - Technology financial empowerment plan for new quality productivity development by Bank of China Shenzhen Branch [6]. - **Third Prize Projects**: - AI and multi-data integration service for early-stage technology enterprises by Shenzhen Credit Service [6]. - New employment form ride-hailing driver insurance project by Taiping Property Insurance [6]. - **Most Potential Award Projects**: - "Housing Dream" project for large-scale urban village renovation by the National Development Bank Shenzhen Branch [7]. - New energy "technology + insurance" model construction by Ping An Property & Casualty Insurance Shenzhen Branch [7]. - **Best Growth Award Projects**: - New model for marine pastoral + insurance + N by Taiping Property Insurance [7]. - **Innovation Breakthrough Award Projects**: - "WeChat Quick Compensation" proactive claim model by Weimin Insurance Agency [7]. - Online self-service tax refund mini-program "Xing Shui Tong" by Guangdong Huaxing Bank Shenzhen Branch [7].

截至发稿，博纳影业市值为111亿元。 每经头条（nbdtoutiao）——对话马斯克脑机接口"一号受试者"：大脑植入芯片23个月，我正重新夺回 人生的独立 每经AI快讯，博纳影业（SZ 001330，收盘价：8.05元）12月26日晚间发布公告称，持股5%以上股东中 信证券投资有限公司及其一致行动人金石智娱股权投资(杭州)合伙企业(有限合伙)、信石元影(深圳)投资 中心(有限合伙)、青岛金石暴风投资咨询有限公司计划在本公告披露之日起15个交易日后的三个月内以 集中竞价及大宗交易方式减持公司股份不超过约2747万股，占公司总股本的1.9982%（占剔除公司回购 股份后总股本的2%） 股东浙江东阳大麦娱乐有限公司计划在本公告披露之日起15个交易日后的三个月内通过集中竞价方式合 计减持公司股份不超过约1373万股，占公司总股本的0.9991%（占剔除公司回购股份后总股本的1%）。 如在此期间内，公司发生送红股、资本公积转增股本等导致总股本变动事项的，则拟减持的比例不变， 减持数量相应调整。 2025年1至6月份，博纳影业的营业收入构成为：传媒占比100.0%。 （记者 张明双） ...

博纳影业公告，中信证券投资及一致行动人持股1.21亿股，占8.8366%，拟披露15交易日后3月通过竞 价、大宗交易减持不超2746.61万股，占1.9982%，各不超1373.31万股；浙江东阳大麦娱乐持股6872.59 万股，占5.0000%，拟竞价减持不超1373.31万股，占0.9991%。截至披露日，总股本13.75亿股，已回购 121.2万股。 ...

Core Viewpoint - The case involving the financial product failure of Fuanna has progressed, with the court ruling that CITIC Securities must compensate Fuanna for a principal loss of 29.2863 million yuan [1][5][6]. Group 1: Financial Product Details - Fuanna purchased a financial product named "CITIC Securities Fu An FOF Customized No. 1 Single Asset Management Plan" for 120 million yuan on March 19, 2021, with a maturity date of March 19, 2022 [4]. - Upon maturity, Fuanna received a total of 13.5 million yuan, leaving 106 million yuan in principal and expected fixed returns unrecovered [4][5]. - The net asset value of the product was reported to be 77.8205 million yuan as of September 30, 2025, with a total impairment provision of 27.8772 million yuan for overdue amounts [4]. Group 2: Legal Proceedings - Fuanna filed a lawsuit on August 31, 2023, against CITIC Securities and China Merchants Bank Guangzhou Branch for financial contract disputes [4][5]. - The court ruled that CITIC Securities must compensate Fuanna within ten days of the judgment, with future recoveries from the asset management plan to be split 50/50 between Fuanna and CITIC Securities [5][6]. Group 3: Investment Risks and Issues - The financial product involved multiple layers of investment, with the fifth phase of 120 million yuan being allocated to the North University Resources Hangzhou Port City project, which has already defaulted [7][8]. - Fuanna had previously requested CITIC Securities to redeem 20 million yuan from the money market fund to mitigate risks, but only 13.5 million yuan was returned, with no reasonable explanation for the remaining amount [8].

每经AI快讯，久立特材（SZ 002318，收盘价：27.9元）发布公告称，2025年12月26日，久立特材接受 中信证券、南方基金调研，公司董事长李郑周、董事会秘书寿昊添、证券事务代表姚慧莹参与接待，并 回答了投资者提出的问题。 每经头条（nbdtoutiao）——对话马斯克脑机接口"一号受试者"：大脑植入芯片23个月，我正重新夺回 人生的独立 2025年1至6月份，久立特材的营业收入构成为：石油和化工和天然气占比61.36%，电力设备制造占比 15.18%，其他机械制造占比13.5%，其他不可分行业占比9.96%。 （记者 王晓波） 截至发稿，久立特材市值为273亿元。 ...

每经AI快讯，中农立华（SH 603970，收盘价：13.06元）发布公告称，2025年12月24日、12月25日、12 月26日，中农立华接受中信证券股份有限公司等投资者调研，公司总经理兼董事会秘书黄柏集、公司投 资者关系经理张剑飞参与接待，并回答了投资者提出的问题。 2024年1至12月份，中农立华的营业收入构成为：农药流通占比99.77%，植保机械占比0.23%。 每经头条（nbdtoutiao）——对话马斯克脑机接口"一号受试者"：大脑植入芯片23个月，我正重新夺回 人生的独立 （记者 王瀚黎） 截至发稿，中农立华市值为35亿元。 ...