Core Viewpoint - Anker Innovations has submitted an application for listing on the Hong Kong Stock Exchange, with joint sponsors including China International Capital Corporation, Goldman Sachs, and JPMorgan Chase [1] Company Overview - Anker Innovations is a global smart hardware technology company focused on providing a wide range of reliable products and exceptional user experiences [1] - The company's product lines cover three main areas: smart charging and energy storage, smart home and innovation, and smart audio-visual [1] - Specific products include mobile charging, consumer-grade energy storage, smart security, smart cleaning, creative printing, smart audio, and smart projection [1]

（文章来源：第一财经） 中金认为，中美重磅会议落地前，无论是美国宽松预期继续发酵，还是中国增量政策预期抬升，都可能 支持风险资产表现。具体来讲，我们建议会议前维持超配中国股票，风格更均衡，会议后根据政策情况 选择风格板块。目前成长风格已经经历一轮明显回调，可能存在反弹机会；周期价值风格估值相对较 低，存在补涨空间；进入12月下旬，红利资产也可能凸显防御价值。整体而言，沪深300指数动态市盈 率12倍，接近历史均值，估值与此前牛市高点比还有充分扩张空间（图表10），我们认为中国股票牛市 尚未结束。 ...

中金公司首席策略师缪延亮表示，现在时机尤其有利，因为美元可能正步入一段长期疲软期，而中国制 造业的竞争力越来越强。他曾担任中央外汇业务中心首席经济学家。 ...

Core Points - The article discusses the participation of China International Capital Corporation (CICC) in the initial public offering (IPO) of Baiao Saitou (Beijing) Pharmaceutical Technology Co., Ltd. on the Sci-Tech Innovation Board [1] - The IPO price was set at 26.68 yuan per share, determined through a comprehensive evaluation of the company's investment value and market conditions [1] Group 1 - CICC acted as the lead underwriter for the IPO of Baiao Saitou [1] - The pricing of the IPO considered factors such as comparable company valuations and market demand [1] - The offline issuance did not incur transfer fees or stamp duties for the allocation recipients [1]

中国证券报 | 中金公司党委书记、董事长陈亮：文化铸魂赋能发展，为金融强国建设注入中金力量 来源：中金公司CICC 凝聚三十年精神内核 面对行业发展的新形势、新要求，中金公司将文化建设提升至全局高度进行战略谋划。恰逢成立三十周 年的"而立之年"，公司发布了涵盖初心使命、愿景目标、中金价值观、中金共识和中金准则五大组成部 分的企业文化理念体系。这一体系是中国特色金融文化、行业文化有机融入现代投行实践的生动阐释， 兼顾中国特色与国际实践，融合问题导向、时代特征和效果导向，构建起承载历史、立足当下、面向未 来的文化价值坐标，为打造百年金融老店注入持久动力。 "这套体系的每一个表述，都凝结着中金三十年的基因与传承。"陈亮解释道，初心使命——"植根中国 融通世界"，浓缩了公司的创立本源与时代担当；愿景目标——"打造中国的国际一流投资银行 成为享 誉全球的领先金融机构"，响应了金融强国建设的召唤；公司的十六字价值观——"以国为怀、以人为 本、客户至上、勤勉专业"，融合了社会主义核心价值观、中华优秀传统文化及金融行业特性，构建了 多维度的价值导向。此外，"中金共识"提炼了三十年来的经营管理智慧，"中金准则"则通过"十二个坚 ...

（记者 曾健辉） 每经AI快讯，海欣食品发布公告称，2025年12月2日，海欣食品接受中金公司调研，公司副总经理、董 事会秘书郑铭，财务总监项金宏，证券事务代表杨斌参与接待，并回答了投资者提出的问题。 每经头条（nbdtoutiao）——股民发帖求主力拉涨停，次日竟成真！襄阳轴承涨停迷局背后：平台审核 漏洞与市场操纵疑云发酵 ...

转自：新华财经 展望后市，短期风格切换较难持续，在中外流动性宽松周期共振的背景下，A股市场估值相对合理，AI 科技革命与能源革命支撑上游原材料到中游制造需求，成长产业高景气带动上市公司业绩改善，震荡上 行的趋势仍在延续。当前时点至明年初，仍重点关注大盘成长风格，较长时间维度的风格切换可能出现 在明年一季度左右。四季度以来通胀预期普遍下调，年末涉及房地产、促消费等相关领域的政策信号有 待观察。 编辑：林郑宏 新华财经上海12月2日电 中金公司研报分析认为，11月A股市场震荡调整，交易活跃度有所下降，风格 演绎阶段性"高切低"但持续时间短且主线不清，红利略有相对表现。从全球范围看，主要经济体股票市 场普跌，一方面投资者对于美联储降息节奏预期反复，另一方面对当前AI资产是否已经出现泡沫、科 技叙事持续性的担忧阶段性升温。 ...

Core Viewpoint - The 2025 Greater Bay Area Exchange Technology Conference emphasizes the transition to an "AI agent era," highlighting the evolution of artificial intelligence from passive response to proactive execution in various industries, particularly in finance [1] Group 1: Industry Trends - The financial industry is accelerating the adoption of artificial intelligence, driven by technological, industrial, policy, and business demand [1] - Challenges such as data governance, AI hallucination, computational power limitations, and insufficient domain knowledge are being addressed as the industry moves towards digital transformation [1] Group 2: Technological Achievements - Eight technological achievements were announced at the conference, showcasing significant advancements in AI applications within the capital markets [2] - Notable projects include the Shenzhen Stock Exchange's "Intelligent Monitoring of Abnormal Trading Behavior" and CITIC Securities' "Full-Chain Risk Control and Compliance Exploration" based on large model technology [2] - The overall impact of AI in capital markets is evident in cost reduction, efficiency enhancement, value creation, compliance risk control, and market governance [2]

Core Insights - DeepSeek has launched two new models: DeepSeek-V3.2 and DeepSeek-V3.2-Speciale, aiming to enhance reasoning capabilities and output efficiency for various applications [2][3][4] Model Features - DeepSeek-V3.2 is designed to balance reasoning ability and output length, making it suitable for everyday tasks like Q&A and general agent tasks [3][4] - The model achieved performance levels comparable to GPT-5 in benchmark tests, slightly below Gemini-3.0-Pro, while significantly reducing output length compared to Kimi-K2-Thinking [3] - DeepSeek-V3.2-Speciale enhances long reasoning capabilities and combines features from DeepSeek-Math-V2, excelling in instruction following and mathematical proof [4][5] Performance Metrics - DeepSeek-V3.2-Speciale has won gold medals in prestigious competitions such as IMO 2025 and ICPC World Finals 2025, showcasing its advanced capabilities [5] - The Speciale model outperforms the standard version in complex tasks but requires more tokens, indicating higher operational costs [5] Technological Advancements - DeepSeek-V3.2 is the first model to integrate reasoning with tool usage, supporting both reasoning and non-reasoning modes for tool invocation [5] - The company has developed a large-scale agent training data synthesis method, significantly improving the model's generalization ability [5] Industry Outlook - The AI industry is entering a resonant phase, with rapid expansion in AI infrastructure and commercialization of downstream applications, expected to continue thriving [6][7] - Investment opportunities are identified in domestic chips, servers, and AI applications, with a focus on innovation and market expansion [7]

■"夯实文化软实力 积极履责显担当" 系列专题报道 多维路径推动知行合一 谈及如何让文化从理念走向实践，陈亮重点介绍了中金公司通过制度建设、文化宣导和业务融合三大维度，将文 化理念深度融入企业经营管理全过程的探索。 在制度建设层面，中金公司着力将文化内嵌于公司治理。通过发挥企业文化建设领导小组的核心作用，将文化要 求系统性融入人力资源、风险控制、业务评审等关键制度与流程。公司修订并发布了《中金公司文化建设管理办 法》等一系列指导文件，确立了文化建设与经营管理"同谋划、同部署、同检查、同考核"的常态化机制。在年度 荣誉体系中专门设立文化践行、合规守正等奖项，树立了重文化、重实绩的鲜明导向。 "十五五"规划建议提出，要"激发全民族文化创新创造活力，繁荣发展社会主义文化"，同时明确"加快建设金融强 国""坚持把发展经济的着力点放在实体经济上"。 "在服务建设金融强国的关键时期，加强文化建设不仅是贯彻中央决策部署的必然要求，也是证券公司构筑长远优 势的战略根基，更是落实国家战略、打造国际一流投行的必由之路。"中金公司党委书记、董事长陈亮日前在接受 中国证券报记者专访时，系统阐述了中金公司以文化铸魂赋能发展的思考与实践 ...