Group 1: Emerging Industries and Market Trends - In 2026, several companies in emerging industries such as intelligent robotics and low-altitude economy announced production targets, indicating a shift from technical validation to mass production delivery, marking a "year of scale" for these sectors [1] - The low-altitude economy is expected to maintain rapid growth in 2026, transitioning from early-stage applications to deeper market penetration, leading to intensified competition [1] - The industrial internet sector is projected to exceed 1.6 trillion yuan by 2025, with significant growth in connected industrial devices and platform adoption [10] Group 2: Stock Market Performance - Southbound capital has seen a record net inflow of 140.48 billion HKD in 2025, continuing into 2026 with an additional net inflow of 41.296 billion HKD, contributing to a strong performance in the Hong Kong stock market [2] - The Hang Seng Index rose over 4% and the Hang Seng Tech Index over 6% in 2026, with more than 60% of stocks with a market cap over 1 trillion HKD experiencing gains [2] - A-share market saw a record daily trading volume exceeding 30 billion yuan for three consecutive days, with significant activity in AI applications and pharmaceutical stocks [7] Group 3: Company Performance and Forecasts - Several gold mining companies have reported significant earnings growth for 2025, driven by rising gold prices, with Goldman Sachs predicting gold prices to reach approximately 4,900 USD per ounce by the end of 2026 [3] - Over 140 companies in the A-share market have disclosed annual performance forecasts, with 63 companies expecting profit increases and 19 companies projecting a doubling of net profits [9] - Guizhou Moutai is accelerating its market-oriented transformation, implementing a new operational plan to adapt to market and consumer trends [13] Group 4: Regulatory and Market Developments - The Beijing Stock Exchange is experiencing an "accelerated" listing review process, particularly benefiting specialized and innovative small and medium enterprises [4] - Securities firms are increasingly engaging in capital increases and acquisitions to enhance their control over public fund companies, aiming for deeper integration of various financial services [12][13]

Macro Economy - The Ministry of Industry and Information Technology (MIIT) issued an action plan for the high-quality development of industrial internet platforms from 2026 to 2028, aiming to have over 450 influential platforms and more than 120 million industrial devices connected by 2028, with a platform penetration rate exceeding 55% [2] - MIIT held the 18th manufacturing enterprise symposium, emphasizing active participation in industry rule-making and self-regulation to promote a win-win environment and protect industry development [2] Investment News - On January 13, A-shares experienced a collective pullback, with the Shanghai Composite Index ending a 17-day winning streak, closing down 0.64%. The total trading volume in Shanghai, Shenzhen, and Beijing reached 3.7 trillion, setting a new historical record [5] - The Hang Seng Index rose by 0.9%, with the Hang Seng Technology Index increasing by 0.11%. Pharmaceutical stocks performed well, with WuXi AppTec rising over 8% and WuXi Biologics nearly 6%. The H-share listing of Zhaoyi Innovation saw a peak increase of over 53% on its first day, closing with a 37.53% rise, valuing the company at 155.2 billion HKD [5] - As of January 12, the management scale of ETF products under Huaxia Fund officially surpassed 1 trillion RMB, reaching 1,016.424 billion RMB, making it the first domestic ETF manager to enter the "trillion club" [5] - Approximately 130 A-share listed companies have disclosed their 2025 performance forecasts, with around 70 companies expecting positive results, including profit increases and recoveries [5] - A total of 186 listed companies have been subject to concentrated research by public funds and brokerages, with the number of research instances reaching 220, indicating strong interest in popular stocks like Aipeng Medical and Entropy Technology [5] Company Movements - Guizhou Moutai is establishing a dynamic adjustment mechanism for retail prices based on market orientation, aiming for a "market-following, relatively stable" self-operated system [6] - The "Dead or Alive APP" will officially adopt the global brand name Demumu in its upcoming new version [7] - Alibaba Cloud has completed further strategic investment in ZStack, achieving a controlling stake, and plans to create a standardized and inclusive cloud-edge integrated solution [7] - DeepSeek published a new paper on conditional memory for large language models, co-authored with Peking University [7] - Huaxia Happiness expects a net loss of 16 billion to 24 billion RMB in 2025, with potential delisting risk warnings for its stock [8] - Zhongwen Online anticipates a net loss of 580 million to 700 million RMB in 2025, as its overseas short drama business is still in the investment phase [8] - Luxshare Precision has terminated its acquisition of the business asset package held by India's Wingtech [8]

Group 1 - A-shares experienced a decline on January 13, with the Shanghai Composite Index down 0.64% to 4138.76 points, ending a 17-day winning streak. The total trading volume reached a record high of 3.7 trillion yuan [1] - The U.S. President Trump announced the cancellation of all talks with Iranian officials, and the U.S. State Department urged citizens to leave Iran immediately. Iran's military claimed to have enhanced its capabilities in response to security threats [1] - The Federal Reserve Chairman Powell is under criminal investigation, with former financial officials criticizing the Trump administration's actions. Global central bank leaders are drafting a statement in support of Powell [1] Group 2 - Trump threatened to impose a 25% tariff on countries doing business with Iran, prompting a response from China's Foreign Ministry, which emphasized the need to maintain the stability of global supply chains for critical minerals [4] - The Ministry of Industry and Information Technology held a meeting with representatives from key industries, emphasizing participation in industry rule-making and self-regulation to resist "involution" [4] - The Ministry of Civil Affairs and other departments introduced 14 measures to promote high-quality development in elderly care services, with the elderly population expected to reach 310 million by 2024 and over 400 million by 2035 [4] Group 3 - The Hong Kong Hang Seng Index rose 0.9% to 26848.47 points, with medical stocks performing well. Southbound funds recorded a net purchase of 1.296 billion Hong Kong dollars [6] - The ETF management scale of Huaxia Fund surpassed 1 trillion yuan, marking a milestone in the domestic ETF market [6] - Two "commercial aerospace" concept stocks received regulatory warnings for inaccurate and incomplete information disclosures [6] Group 4 - A survey indicated that over 70% of insurance investment officers are optimistic about the investment outlook for 2026, with a preference for increasing equity asset allocations [7] - As of January 13, 186 listed companies had been investigated by institutions, with a focus on sectors like brain-computer interfaces and commercial aerospace [7] - More than 140 companies in the A-share market released performance forecasts for 2025, with 63 companies expecting profit increases [7] Group 5 - Companies in the mining sector are expected to see significant profit growth in 2025 due to rising gold prices, with companies like Chifeng Jilong Gold and Zijin Mining forecasting substantial profit increases [8] - The passing of David Webb, a prominent activist investor in Hong Kong, has raised concerns about the impact on the market [8] - China Europe Fund announced the suspension of certain fund activities, indicating a tightening of investment conditions [8] Group 6 - The Ministry of Industry and Information Technology outlined a plan for the development of industrial internet platforms, aiming for over 450 influential platforms by 2028 [11] - The Ministry of Commerce announced the continuation of anti-dumping duties on imported solar-grade polysilicon from the U.S. and South Korea [11] - A new round of high-value medical consumables procurement is set to open bidding, involving 12 types of medical consumables [11] Group 7 - Jiangsu Province released an "Artificial Intelligence+" action plan, targeting a trillion-yuan industry scale by 2027 [12] - The used car market in China is projected to exceed 20 million transactions in 2025, with a notable increase in the share of electric vehicles [12] - Significant advancements have been made in the development of high-performance sodium-ion battery materials [12] Group 8 - The global hedge fund industry achieved a 12.6% return in 2025, marking the strongest annual performance since the 2009 financial crisis [20] - JPMorgan reported a fourth-quarter revenue of $45.798 billion, exceeding market expectations, despite a decline in investment banking performance [20]

Group 1 - Nvidia has received a regulatory easing from the US for exporting H200 chips to China, and the company clarified it will not require customers to pay for undelivered products despite previous rumors of strict payment terms [2] - Rongbai Technology signed a procurement agreement with CATL worth over 120 billion yuan for lithium iron phosphate cathode materials, expected to supply 3.05 million tons from Q1 2026 to 2031, positively impacting future performance [2] - Microsoft is integrating ChatGPT into Office 365 to enhance productivity and collaborating with Walmart to strengthen AI recommendation systems on its e-commerce platform, reinforcing its position in enterprise software and cloud computing [2] Group 2 - Debon Logistics plans to voluntarily delist, with a cash option registration date set for February 6, 2026, and the stock will resume trading on January 14, 2026, aiming to optimize its capital structure [5] - Fulin Precision plans to raise 3.175 billion yuan through a private placement to CATL at 13.62 yuan per share for a project to produce 500,000 tons of high-end energy storage lithium iron phosphate, deepening cooperation in the new energy sector [5] - Baiwei Storage expects a net profit of 850 million to 1 billion yuan in 2025, a year-on-year increase of 427.19% to 520.22%, driven by recovering demand in the storage chip market [5][6] Group 3 - TCL Technology anticipates a net profit growth of 169% to 191% in 2025, primarily due to improved profitability in its semiconductor display business and rapid development in the new energy photovoltaic sector [3] - TCL Zhonghuan expects a net loss of 8.2 billion to 9.6 billion yuan in 2025, a reduction from a loss of 9.818 billion yuan the previous year, with positive operating cash flow [6] - Pudong Development Bank projects a net profit of 50.017 billion yuan in 2025, a year-on-year increase of 10.52%, driven by improved asset quality and steady growth in intermediary business income [7]

闻泰科技安世失控风波未了，又与立讯精密围绕印度资产交割陷入纠纷。 据立讯精密最新披露，印度闻泰相关资产存在包括资产查封、冻结等在内的交割受限情形，导致无法办 理权属变更手续，相关资产交易尚未完成权属交割，因此立讯方面提出终止该交易，要求印度闻泰退还 交易款项等费用，并将该事项提交至新加坡国际仲裁中心。 另外，记者发现，闻泰科技此前提示过，印度闻泰面临印度税务处罚风险。对于该印度税务事项与本次 纷争关系，截至发稿双方公司尚未正式回复。 1月13日，闻泰科技股价下跌3.45%，立讯精密下跌1.53%。 闻泰印度资产交割遇挫 对于本次印度资产交易遇挫，闻泰科技方面向记者强调，印度资产已经完成交割，其余标的资产已完成 交易。 闻泰科技公告也显示，上述仲裁仅涉及印度业务资产包的交割，公司已启动法律应对程序，积极准备相 关法律文件、确认仲裁程序、评估各项可行法律途径。本次争议背景复杂，涉及跨境交易中常见的多法 域法律适用与行政程序的交叉影响。最终裁决结果及责任归属尚存在不确定性，目前暂无法准确预估该 事项对公司财务的具体影响。 回顾来看，2025年，立讯精密接手闻泰科技下属的昆明闻讯实业有限公司、黄石智通电子有限公司、昆 ...

【#3900亿巨头终止收购并要求退还1.5亿元#】1月13日，立讯精密(002475.SZ)公告称，由于印度闻泰相 关资产存在包括资产查封、冻结等在内的交割受限情形，导致无法办理权属变更手续，相关资产交易尚 未完成权属交割。 立讯精密此前收购闻泰科技部分资产，核心目标在于拓展大客户苹果之外的合作伙伴。作为果链头部企 业之一，立讯精密十多年前便开始向苹果供应连接线，如今，其已为苹果多款产品提供开发和制造服 务。 截至1月13日收盘，立讯精密跌1.53%报54.58元/股，总市值3977亿元。闻泰科技跌3.45%报38.58元/股， 总市值480亿元。（每经综合，德塔） 基于前述因交易对方原因导致的实质性交割障碍，本次印度资产转让协议的合同目的已无法实现。公司 之全资子公司Luxshare Lanto India Private Limited已向新加坡国际仲裁中心提起仲裁申请并提交了仲裁 通知，请求裁决终止印度资产转让协议，并诉请印度闻泰退还已支付的交易对价及其他费用合计印度卢 比19.77亿元（约人民币1.53亿元），并支付至实际清偿之日止的利息。该终止事项不会对公司正常生产 经营活动和财务状况产生不利影响。 ...

1月13日，闻泰科技方面在回应双方上述争议时表示，双方此前已完成协议约定的资产交割，但立讯方 面以协议履行等事宜为由，单方主张终止《印度资产协议》。公司聘请的第三方律师认为其主张缺乏事 实与法律依据，相关终止行为不具备合法性。目前公司正依据仲裁规则和相关法律积极推进应对工作， 并将提出反请求，要求立讯联滔继续履行合同、支付剩余交易对价并赔偿相应损失。 据悉，本次交易背景源于去年闻泰科技对集成业务的剥离。原本，闻泰科技的主营业务包括产品集成业 务和半导体业务两大业务板块，但受美国影响，公司拟战略性退出产品集成业务。 2025年，闻泰科技曾披露，拟以现金交易的方式向立讯精密及立讯通讯（上海）有限公司转让公司下属 多家公司的100%股权，同时转让印度闻泰等相关业务资产包，经协商后作价43.89亿元。其中，印度闻 泰出售的业务资产包资产账面金额合计为3.11亿元，占拟出售资产合计净资产账面金额的比例为 7.09%，占比相对较小。 印度资产之外，闻泰科技产品集成业务的其他资产出售较为顺利。闻泰科技在公告中表示，除了上述仲 裁涉及的印度业务资产包外，与立讯精密的交易中，其他标的资产已完成所涉权属变更登记手续，且不 涉及仲 ...

Group 1 - Hangxiao Steel Structure announced that it does not have a "commercial aerospace" business, with its main operations focused on steel structure contracting and related services, and a recent project contributing less than 1% to its 2024 audited revenue [1] - Tianlong Group stated that it has not generated additional revenue from AI tools, which are currently used internally for advertising content creation, and that the overall business operations remain unaffected [1] - Wanxing Technology confirmed that there are no undisclosed significant matters affecting its operations, and its business environment remains stable [2] Group 2 - Yaxing Chemical announced the termination of a share issuance and cash purchase of assets due to market changes and disagreements on asset valuation [2] - Zhejiang Shuculture clarified that its subsidiaries do not engage in GEO business, which has been misreported by media [2] - Luxshare Precision terminated the acquisition of assets from Wintime Technology due to delivery restrictions, with a request for the return of 1.53 billion RMB [3] Group 3 - Jinyu Group reported that its subsidiaries' revenues from specific projects are minimal compared to its overall revenue, with a small contribution from recent contracts [4] - Tongyu Communication highlighted that its stock price has significantly outpaced its fundamentals, indicating potential risks of a price correction [4] - Dongfang Mingzhu noted that the listing process for its investment in Chaoguhuan has uncertainties but currently does not impact its performance [5] Group 4 - Luyin Investment warned of risks associated with its stock price surge, which has increased by 86.92% over the last ten trading days [5] - Puyuan Information stated that its AI software platform is in the early commercialization stage, with limited revenue impact expected [6] - Zhejiang Wenhu Intermediary reported that its GEO business has not yet generated revenue, reflecting uncertainties in market acceptance [6] Group 5 - Xinhua News confirmed that its GEO business lacks a mature profit model and has not generated income [7] - People's Daily stated that it does not engage in GEO business and has not been affected by market rumors [7] - China First Heavy Industries reported minimal involvement in controllable nuclear fusion projects, with no significant revenue generated [8] Group 6 - Xibu Mining announced an increase in copper resources at the Yulong Copper Mine, adding 131.42 million tons of copper metal resources [8] - Jiurui New Materials commenced trial production of a new photoinitiator project, expected to cater to mainstream markets [9] - Tongda Sea indicated that AI-related revenue is low and does not significantly impact overall business performance [10] Group 7 - Zhenai Meijia's stock price has deviated significantly from market indices, prompting caution for investors [11] - Guizhou Moutai approved a new marketing strategy to enhance its sales channels and adapt to consumer demands [12] - Shunhao Co. plans to increase its stake in a subsidiary, reflecting confidence in future business prospects [14] Group 8 - A number of companies, including TCL Technology and Dazhu CNC, forecast significant profit increases for 2025, driven by operational improvements and market demand [19][22] - Long Cable Technology expects a profit increase due to changes in its employee stock plan and market conditions [22] - Jiangsu Electric Power reported a profit increase attributed to higher sales and reduced financial costs [29]

北京商报讯（记者 马换换 王蔓蕾）1月13日晚间，立讯精密（002475）披露公告称，终止收购印度闻泰 业务资产包。 立讯精密表示，为维护公司及全体股东利益，公司之全资子公司Luxshare Lanto向印度闻泰发出终止协 议通知，并要求印度闻泰退还公司已支付的交易对价及其他费用共计印度卢比19.77亿元（约人民币1.53 亿元）。由于印度闻泰未按要求退还前述款项，目前Luxshare Lanto已向新加坡国际仲裁中心提起仲裁 申请并提交了仲裁通知，请求裁决终止印度资产转让协议，并诉请印度闻泰退还Luxshare Lanto已支付 的交易对价及其他费用合计印度卢比19.77亿元（约人民币1.53亿元），并支付至实际清偿之日止的利 息。有关印度闻泰业务资产包交易的终止，不会对公司正常生产经营活动和财务状况产生不利影响。 公告显示，截至公告披露日，根据立讯精密全资子公司立讯通讯（上海）有限公司与闻泰科技签署的 《股权及资产转让协议》、《股权及资产转让协议之补充协议》约定，公司将购买印度闻泰所持有的业 务资产包。由于印度闻泰相关资产存在包括资产查封、冻结等在内的交割受限情形，导致无法办理权属 变更手续，相关资产交易 ...

1月13日，立讯精密公告称，由于印度闻泰相关资产存在包括资产查封、冻结等在内的交割受限情形， 导致无法办理权属变更手续，相关资产交易尚未完成权属交割。基于前述因交易对方原因导致的实质性 交割障碍，本次印度资产转让协议的合同目的已无法实现。 根据公告，闻泰科技要求立讯联滔根据《印度资产协议》的相关约定，支付印度业务资产包剩余的交易 对价约1.6亿元；而立讯联滔主张终止《印度资产协议》并返还其此前已支付的交易对价，合计约19.77 亿印度卢比，并支付自立讯联滔发出终止通知书之日起至前述款项实际支付日期间产生的相应利息及仲 裁费用。 截至今日收盘，立讯精密跌1.53%，报54.58元；闻泰科技跌3.45%，报38.58元。 编辑｜心一 据公告，公司全资子公司Luxshare Lanto India Private Limited已向新加坡国际仲裁中心提起仲裁申请并 提交了仲裁通知，请求裁决终止印度资产转让协议，并诉请印度闻泰退还已支付的交易对价及其他费用 合计印度卢比19.77亿元（约人民币1.53亿元），并支付至实际清偿之日止的利息。 立讯精密表示，有关印度闻泰业务资产包交易的终止，不会对公司正常生产经营活动和财 ...