Group 1 - The publishing sector experienced a decline of 1.1% on the trading day, with the leading stock, DuKe Culture, falling by 4.02% [1][2] - The Shanghai Composite Index closed at 3965.28, up 0.04%, while the Shenzhen Component Index closed at 13537.1, down 0.49% [1] - Major stocks in the publishing sector showed mixed performance, with Rongxin Culture rising by 2.42% and several others remaining flat or declining [1] Group 2 - The publishing sector saw a net outflow of 266 million yuan from institutional investors, while retail investors contributed a net inflow of 169 million yuan [2] - The trading volume for DuKe Culture was 211,000 shares, with a total transaction value of 205 million yuan [2] - The data indicates that retail investors are more active in the publishing sector compared to institutional investors, as evidenced by the net inflows [2][3]

Core Viewpoint - Duku Culture (301025.SZ) announced the termination of its control change planning, leading to its stock resuming trading on December 29, 2025, with a closing price of 9.79 yuan, down 4.02% [1]. Group 1 - Duku Culture received a notification from its controlling shareholder regarding the planning of a control change, which could lead to a change in the company's controlling shareholder and actual controller [1]. - The company suspended trading on December 22, 2025, to ensure fair information disclosure and protect investor interests due to the uncertainty surrounding the control change [1]. - After extensive discussions and negotiations on core terms, the parties involved could not reach a consensus, leading to the decision to terminate the control change planning [1]. Group 2 - The company stated that its current operational status remains normal, and the termination of the control change planning will not have a significant adverse impact on its operational performance and financial condition [1]. - Duku Culture will continue to focus on its development strategy to create value for the company and its shareholders [1].

Market Overview - The market structure characteristics are expected to continue in the short term, with trading volume being a key signal for market trends [1][9] - Major U.S. stock indices hovered near historical highs, with the Dow Jones down 0.04%, Nasdaq down 0.09%, and S&P 500 down 0.03% at the close [3] - The Nasdaq China Golden Dragon Index rose by 0.72%, with notable gains from Alibaba (1.5%), Pinduoduo (1.4%), and Baidu (1.2%) [3] Commodity Markets - Gold futures for December delivery increased by 1.08% to $4,529.10 per ounce, while silver futures surged by 7.68% to $76.48 per ounce, with post-market gains pushing silver above $78 per ounce [4] - International oil prices declined, with WTI crude down 2.76% to $56.74 per barrel and Brent crude down 2.57% to $60.64 per barrel [3] Financial Policies and Regulations - The People's Bank of China and the State Administration of Foreign Exchange announced the promotion of integrated currency pools for multinational companies, aiming to streamline cross-border fund management [6] - The National Bureau of Statistics released implementation opinions to strengthen data technology innovation, targeting the establishment of leading data technology innovation platforms by 2027 [6] Market Sentiment and Investment Trends - Institutional investors are increasingly adding to A500 ETF and other broad-based products, contributing to stable incremental capital in the market [9] - The market is currently characterized by a "buy on dips, structural switching" approach rather than aggressive trend-based accumulation at high levels, indicating a potential for gradual upward movement in the market [9] Company-Specific Developments - Xiaomi Group's co-founder plans to sell up to $2 billion of Class B common stock [10] - ST Houlv's chairman is under investigation for information disclosure violations by the China Securities Regulatory Commission [10] - Chipmaker AI orders from Chip Original Co. exceeded 24.94 billion yuan, with over 84% of fourth-quarter orders related to AI computing power [10]

Group 1 - The core announcement is that Dook Culture (301025) will resume trading on December 29, 2025, after terminating the planned change of control [1] - Prior to the suspension, on December 19, Dook Culture's stock price surged over 8% during intraday trading, closing with a gain of over 6% [4] - The company stated that the discussions regarding the change of control involved multiple parties and core terms, but no consensus was reached, leading to the decision to terminate the matter [4] Group 2 - Dook Culture confirmed that its current operational status remains normal and that the termination of the control change will not have a significant adverse impact on its business performance and financial condition [4] - The company emphasized its commitment to creating value for shareholders and continuing to focus on its development strategy [4]

Group 1 - The National Venture Capital Guiding Fund has officially launched with a government investment of 100 billion yuan, expected to leverage over 1 trillion yuan in social capital for strategic emerging industries such as integrated circuits, artificial intelligence, and quantum technology [3] - The People's Bank of China (PBOC) emphasizes the need to improve the policy environment for long-term investments, aiming to increase the scale and proportion of medium- and long-term funds invested in A-shares [4] - The Shanghai Stock Exchange has released guidelines to support commercial rocket companies, allowing them to list on the Sci-Tech Innovation Board under specific conditions [3] Group 2 - The Ministry of Industry and Information Technology has outlined ten key tasks for 2026, including addressing "involution" competition and supporting artificial intelligence initiatives [4] - The industrial economy is projected to grow by 5.9% in 2025, with digital industry revenue expected to increase by around 9% [4] - The National Bureau of Statistics has confirmed that China's GDP for 2024 is 13.48 trillion yuan, with a year-on-year growth of 5.0% [4] Group 3 - The A-share market experienced a slight increase, with the Shanghai Composite Index rising by 0.10% to 3963.68 points, marking an eight-day winning streak [6] - The PBOC and the State Administration of Foreign Exchange have clarified that funds raised from overseas listings can be repatriated in foreign currency or RMB [7] - The China Securities Regulatory Commission is taking strict measures against *ST Chang Pharmaceutical for serious financial fraud, proposing fines and initiating delisting procedures [7] Group 4 - The first batch of national-level zero-carbon parks has been announced, with 52 parks expected to generate a total output value of 3.54 trillion yuan [5] - The Ministry of Finance and other departments have issued guidelines to enhance the role of government financing guarantee systems in supporting labor-intensive small and micro enterprises [5] - The PBOC has included agricultural facilities and clearly owned livestock in the scope of agricultural rural mortgage financing to promote rural revitalization [5]

Core Viewpoint - Dook Culture (301025) will resume trading on December 29, 2025, after terminating the planned change of control [1][4]. Group 1: Trading Resumption - Dook Culture announced that its stock will resume trading on December 29, 2025, following the termination of the control change plan [1]. - The stock was suspended from trading on December 22, 2025, due to the announcement of the control change plan [4]. Group 2: Stock Performance - Prior to the suspension, Dook Culture's stock price surged over 8% during intraday trading on December 19, 2025, closing with a gain of over 6% [4]. Group 3: Control Change Plan - The controlling shareholders, Huanan and Huashan, engaged in discussions with the counterparty regarding the control change but failed to reach a consensus on key terms after multiple negotiations [4]. - The decision to terminate the control change plan was made to protect the interests of all shareholders and the company, emphasizing a prudent approach [4]. Group 4: Company Operations - Dook Culture stated that its current operational status remains normal and that the termination of the control change plan will not have a significant adverse impact on its business performance and financial condition [4]. - The company will continue to focus on its development strategy to create value for the company and its shareholders [4].

读客文化即将复牌。 12月26日晚间， 读客文化（ 301025 ）发布公告称， 终止筹划控制权变更事项，公司股票将 自2025年12月29日（下周一）上午开市起复牌。 12月22日，读客文化曾发布筹划控制权变更事项相关公告，公司股票自当天起停牌。而在停牌 前一交易日（12月19日），读客文化股价盘中大涨超8%，收盘涨幅仍有6%以上。 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 华为，悬红300万元征集！ 丨 报警，并向证监会举报！300867，子公司委托理财遭遇巨亏 丨 让利近20 亿元！沪深交易所发布 丨 300391，严重财务造假，或将强制退市！证监会严肃查处！ 丨 上交所重 磅！事关商业火箭IPO 丨 利好不断！002361，7连板！600118，3连板 丨 11:13！A股，突变！ 丨 埃 及降息100个基点！白银，暴涨！ 丨 深夜！600779，紧急澄清！ 丨 重大资产重组！300291，明起复 牌 根据最新公告，停牌期间，读客文化控股股东华楠、华杉与交易对方就筹划控制权变更事项进 行了充分探讨，但由于涉及事项较多，经 ...

Core Viewpoint - The company, DuKe Culture, announced the termination of its control change plan after failing to reach a consensus among stakeholders, stating that this decision will not significantly impact its operational performance or financial status [1][2]. Group 1: Company Announcement - On December 26, DuKe Culture announced the termination of its control change plan due to the lack of consensus among stakeholders [1]. - The company confirmed that its operational status remains normal and that the termination will not adversely affect its financial performance [1]. - The stock will resume trading on December 29 after a temporary suspension [1]. Group 2: Background Information - On December 22, DuKe Culture disclosed that it had received a notification from its controlling shareholders regarding a potential control change, but no formal agreements had been signed [1][2]. - The company is focused on enhancing its brand influence and industry competitiveness through a strategy of "creative industrialization" and integration of quality copyrights across various fields [2]. - For the first three quarters of the year, DuKe Culture reported a revenue of 257 million yuan, a year-on-year decrease of 12.19%, and a net profit of 6.52 million yuan, down 56.72% year-on-year [2]. Group 3: Market Information - Prior to the suspension, DuKe Culture's stock closed at 10.2 yuan per share, with a total market capitalization of approximately 4.1 billion yuan [3].

智通财经APP讯，读客文化(301025.SZ)发布公告，停牌期间，公司控股股东华楠先生、华杉先生与交易 对方就筹划控制权变更事项进行了充分探讨，但由于涉及事项较多，经交易各方就核心条款经多次协商 和谈判后，仍未达成共识。经慎重考虑并友好协商，为切实维护公司全体股东及公司利益，本着审慎的 原则，决定终止本次控制权变更事项。公司股票自2025年12月29日(星期一)上午开市起复牌。 ...

北京商报讯（记者 马换换 李佳雪）筹划易主不足一周时间，读客文化（301025）12月26日晚间披露公 告称，公司终止控制权变更事项，公司股票自12月29日起复牌。 公告显示，读客文化收到控股股东的通知，其正在筹划公司控制权变更相关事宜，该事项可能导致公司 控股股东、实际控制人发生变更。 读客文化表示，由于涉及事项较多，经交易各方就核心条款经多次协商和谈判后，仍未达成共识，决定 终止本次控制权变更事项。公司目前各项经营情况正常，终止筹划本次控制权变更事项不会对公司经营 业绩和财务状况产生重大不利影响。 ...