消费级3D打印机：中国"四小龙"腾飞，行业加速崛起 相比于工业级3D打印，消费级3D打印强调易用性、低成本、个性化，为个人消费者及创客社区而设 计。过去消费打印机普遍存在"速度慢、易故障、难上手"的问题，目前技术升级带来打印效率、精度提 升;同时主流品牌入门级型号降价至1000元内，大大降低了购买门槛，而例如Gemini Nano Banana等多模 态AI大模型的出现可通过2D图片生成3D模型，进而降低消费者使用门槛。2024年全球消费级3D打印机 市场规模41亿美元，预计2029年提升至169亿美元。2024年全球消费类3D打印机出货量约410万台，中 国厂商占据全球94%市场，"四小龙"中拓竹科技、创想三维、纵维立方、智能派分别出货120、72、 55、55万台，行业景气持续加速。 商业航天：工业级3D打印的主线β 航空航天是工业级3D打印机最核心下游，2024年铂力特、华曙高科营收中航空航天占比分别为61%、 50%。目前全球商业航天步入奇点时刻，2024年SpaceX实现138次火箭发射，迎来指数级增长。国内方 面，2025年火箭发射持续迎来突破，朱雀三号运载火箭成功首飞标志着我国可回收商业航天进入 ...

Core Viewpoint - Lens Technology is acquiring a server business company to enhance its core layout in AI computing power, aiming to provide a more complete AI hardware solution and significantly strengthen its competitive edge [1] Group 1: Acquisition Details - The acquisition will allow Lens Technology to quickly obtain mature technology and customer certifications for specific server cabinet businesses, including components such as racks, slides, trays, and Busbars [1] - The integration of advanced liquid cooling systems will complement the company's existing capabilities in precision structural components and vertical integration from materials to modules to complete machines [1] Group 2: Strategic Implications - This move is expected to open new avenues in AI computing infrastructure, accelerating the company's transformation into a global AI hardware innovation platform [1] - As a one-stop precision manufacturing solution provider for the entire smart terminal industry chain, the company is well-positioned to benefit from the development of AI technology, with all business lines anticipated to experience comprehensive growth [1] Group 3: Investment Rating - The company maintains a "buy" rating, reflecting confidence in its future growth prospects following the acquisition [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued guidelines to enhance the protection of small and medium investors in the capital market, focusing on key concerns and proposing 23 specific measures to strengthen investor protection [1] Group 1: Regulatory Framework - The guidelines emphasize the importance of protecting small and medium investors during the issuance and listing process, creating a fair trading environment, and holding operating institutions accountable for investor protection [1] - The measures include severe penalties for violations against investor rights and the establishment of a diversified dispute resolution mechanism in securities and futures [1] Group 2: Company Initiatives - Guosheng Securities, as a provincial state-owned comprehensive listed brokerage, integrates investor education and protection into its core operations, emphasizing the importance of financial services for the public [3][4] - The company aims to enhance its investor education efforts by leveraging local red culture resources and promoting a "Party Building + Investor Education" model [3][4] Group 3: Targeted Investor Education - Guosheng Securities focuses on key demographic groups, such as the elderly and youth, to provide tailored investor education services, addressing their specific needs and concerns [5][6] - The company has developed specialized educational content to help elderly investors recognize common financial scams, using accessible formats like comics and interactive sessions [6] Group 4: Innovative Practices - The company has adopted a dual approach of online and offline investor education, utilizing digital platforms to reach a wider audience while also establishing physical educational bases [7][8] - During significant financial education events, Guosheng Securities launched over 200 educational products, achieving more than 30 million views, and organized numerous outreach activities to engage with the community [7][8] Group 5: Future Outlook - As 2025 marks a pivotal year for Guosheng Securities, the company plans to deepen its integration of Party Building and investor education, innovate educational products, and expand service scenarios to enhance investor satisfaction [9]

Core Viewpoint - The Central Economic Work Conference continues the overall tone from the December 8 Politburo meeting, emphasizing "strengthening confidence, utilizing advantages, and responding to challenges," while introducing the "five musts" and "five key focus points" for economic work in 2026, which should help various parties better understand and implement central policies [2][23]. Group 1 - The conference emphasizes the need to actively respond to internal and external pressures while showcasing the central government's determination to stabilize the economy and expectations [5][6]. - The introduction of the "five musts" directly addresses pain points and bottlenecks, such as the necessity to balance flexibility and regulation, and the "five key focus points" highlight the importance of expanding domestic demand, strengthening industries, promoting reforms, stabilizing livelihoods, and preventing risks [3][24]. - The overall goal is to achieve a good start for the "14th Five-Year Plan," with a focus on managing expectations and boosting confidence, while placing the goal of "promoting stable economic growth and reasonable price recovery" under monetary policy objectives [4][29]. Group 2 - The conference maintains a tone of "seeking progress while ensuring stability and improving quality and efficiency," with a new emphasis on "pragmatic goal orientation" and a focus on solving existing difficulties [4][30]. - The eight key tasks from the December 8 Politburo meeting are reiterated, with domestic demand returning to the top priority, and the order of tasks adjusted to prioritize expanding domestic demand, strengthening industries, and promoting reforms [5][31]. - Specific deployments include new proposals such as the flexible and efficient use of various monetary policy tools, a shift in fiscal spending language from "increasing" to "maintaining necessary strength," and a renewed focus on stabilizing the real estate market with city-specific measures [4][25].

Core Viewpoint - The recent decisions from the 20th Central Committee's Fourth Plenary Session emphasize the optimization of financial institutions, including securities companies, to focus on their core business and enhance governance, thereby guiding the high-quality development of the financial sector [1] Group 1: Investor Protection Initiatives - The China Securities Regulatory Commission (CSRC) has released guidelines aimed at strengthening the protection of small and medium investors, focusing on key issues such as enhancing protections during the issuance and listing processes and creating a fair trading environment [2] - The guidelines include 23 specific measures to address the concerns of small and medium investors, indicating a clear direction for the securities industry to deepen investor protection efforts [2] Group 2: Cultural and Educational Initiatives - Guosheng Securities integrates party-building with investor education, emphasizing the importance of investor protection as a core theme in capital markets [3][4] - The company utilizes local red cultural resources to enhance its investor education efforts, linking party-building activities with investor protection responsibilities [3] Group 3: Targeted Investor Education - Guosheng Securities focuses on key demographic groups, such as the elderly and youth, to provide tailored investor education services, thereby enhancing financial literacy and protecting investor rights [6][7] - The company has developed specific educational content to help elderly investors recognize financial scams, using accessible formats like comics and interactive sessions [7] Group 4: Innovative Practices in Investor Education - Guosheng Securities employs a dual approach of online and offline strategies to enhance the reach and effectiveness of its investor education initiatives [9][10] - The company has created a comprehensive online platform for investor education, achieving significant engagement with over 30 million views of its educational materials during key financial education weeks [9] - Offline, the company has established a network of educational bases and conducted over 300 events, reaching more than 150,000 individuals, to ensure that investor education is accessible to the public [10][11] Group 5: Future Directions - As 2025 marks a pivotal year for Guosheng Securities, the company aims to deepen its integration of party-building and investor education, innovate educational products, and expand service scenarios to enhance investor satisfaction and protection [11]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued guidelines to enhance the protection of small and medium investors in the capital market, focusing on key concerns and proposing 23 specific measures to strengthen investor protection [1] Group 1: Regulatory Framework - The guidelines emphasize the importance of protecting small and medium investors during the issuance and listing process, creating a fair trading environment, and holding institutions accountable for investor protection [1] - The measures include combating illegal activities that harm investor interests and improving the legal framework for investor protection [1] Group 2: Company Initiatives - Guosheng Securities, as a provincial state-owned comprehensive listed brokerage, integrates investor education and protection into its core operations, emphasizing the importance of financial services for the public [2][9] - The company aims to achieve an "A" rating in the 2025 investor education assessment by embedding investor education into its management and cultural practices [2] Group 3: Targeted Investor Education - Guosheng Securities focuses on key demographic groups, such as the elderly and youth, to provide tailored investor education services, addressing their specific needs and concerns [4][5] - The company has developed educational content to help elderly investors recognize and avoid common financial scams, using accessible formats like comics and interactive sessions [5] Group 4: Collaborative Efforts - The company collaborates with educational institutions to introduce investment education into the curriculum, fostering a new generation of informed investors [6] - Guosheng Securities has established a cooperative mechanism with local universities to enhance practical learning experiences for students [6] Group 5: Innovative Practices - The company employs a dual approach of online and offline investor education, utilizing digital platforms to reach a wider audience while also engaging with communities through in-person events [7][8] - During key financial education weeks, Guosheng Securities launched over 200 educational products, achieving significant engagement with millions of views [7] Group 6: Future Outlook - As 2025 marks a pivotal year for Guosheng Securities, the company plans to deepen its integration of party-building and investor education, focusing on innovation and expanding service offerings to enhance investor satisfaction [9]

Core Viewpoint - The chief fixed income analyst at Guosheng Securities, Yang Yewei, indicated that as the economy transitions, the equity market will see more rapidly growing companies that can provide substantial returns [1] Group 1: Economic Transition and Equity Market - The transition of the economy is expected to lead to the emergence of more companies capable of rapid growth [1] - This growth in the equity market is anticipated to offer significant returns for investors [1] Group 2: Current Investment Trends - Currently, household savings are predominantly concentrated in traditional broad fixed income products [1] - There is a need to guide more funds into the equity market through "fixed income +" products [1] Group 3: Benefits of Investment Shift - Redirecting funds into the equity market can allow a broader range of investors to share in the returns of high-growth companies [1] - This shift in investment strategy is also expected to promote the rapid development of the new economy [1]

中证报中证网讯(记者吴玉华)12月11日晚间，国盛证券（002670）首席固收分析师杨业伟在中国证券 报"中证点金汇"直播间表示，"固收+"是低利率时期资产管理的必然选择。低利率时期意味着固定收益 资产能够提供的票息收入有限，需要通过其他资产增厚收益，但同时，固定收益资产又是控制波动的不 二选择。因而，低利率时期，"固收+"产品能够更好地兼顾收益与风险，是未来资产管理的发展方向。 ...

(责任编辑：徐自立) 中国经济网北京12月11日讯 国盛证券(002670.SZ)今日股价下跌，截至收盘报16.96元，跌幅 3.20%。今日，证券板块跌1.48%，国盛证券为该板块跌幅最大的上市公司。 ...

证券之星消息，12月11日证券板块较上一交易日下跌1.2%，国盛证券领跌。当日上证指数报收于 3873.32，下跌0.7%。深证成指报收于13147.39，下跌1.27%。证券板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 从资金流向上来看，当日证券板块主力资金净流出24.56亿元，游资资金净流入8.4亿元，散户资金净流 入16.16亿元。证券板块个股资金流向见下表： ...