Group 1 - The State Council issued a work plan to optimize and expand service supply, aiming to enhance service consumption and support high-quality economic development [2] - The work plan focuses on key areas such as transportation services, housekeeping services, and inbound consumption, emphasizing innovation and talent development [2] - The commercial aerospace industry is being prioritized, with plans to develop new fields like space resource development and space tourism during the 14th Five-Year Plan [3] Group 2 - Shanghai aims to become a national hub for the commercial aerospace industry, targeting an industry scale of approximately 100 billion yuan by 2027 [4] - The Beijing humanoid robot innovation center has launched a testing platform, capable of producing 5,000 humanoid robots annually [4] - The Kunshan AI industry fund has been established with a total scale of 5 billion yuan, focusing on AI core hardware and infrastructure [5] Group 3 - The market is experiencing mixed performance, with major U.S. indices showing slight fluctuations [6] - Microsoft shares dropped 10%, marking the largest single-day decline since March 2020, due to concerns over high AI capital expenditures [8] - Gold prices reached a record high of $5,594.82 per ounce before settling at $5,389.19, with a monthly increase of approximately 24% [9]

一、活动时间：2026年1月1日至2026年4月30日(每日9点至24点) 二、活动对象： 农行信用卡(单位卡、准贷记卡、EMV卡：Visa、万事达品牌仅支持境外支付的卡、汽车/教育分期等专 用卡除外，下同)持卡人 三、活动内容 活动期间，农行信用卡持卡人(以下简称"持卡人")首次在拼多多APP或中国农业银行APP通过多多钱包 (多多支付，下同)绑定农行信用卡，即有机会获得5元立减权益。立减权益自获得之时起有效期7天(7*24 小时)，持卡人在拼多多APP消费且单笔订单农行信用卡应付满5.01元(含)时可使用。活动期间同一持卡 人仅限参与一次，活动名额有限，用完即止。 ...

Core Viewpoint - PDD Holdings Inc. Sponsored ADR is experiencing a decline in stock performance, with upcoming earnings expected to show modest growth in EPS and significant revenue growth compared to the previous year [1][2]. Group 1: Stock Performance - In the latest trading session, PDD Holdings Inc. Sponsored ADR was down 3.84% at $102.81, underperforming the S&P 500's slight loss of 0.01% [1]. - Over the past month, shares of PDD have decreased by 6.08%, contrasting with the Retail-Wholesale sector's gain of 4.91% and the S&P 500's gain of 0.78% [1]. Group 2: Earnings Expectations - The upcoming earnings release is anticipated to report an EPS of $2.88, reflecting a 4.35% increase from the same quarter last year [2]. - Revenue is projected to be $17.93 billion, indicating an 18.35% growth compared to the corresponding quarter of the prior year [2]. Group 3: Fiscal Year Projections - For the entire fiscal year, earnings are estimated at $10.48 per share, representing a decline of 7.42% from the previous year, while revenue is expected to remain flat at $60.77 billion [3]. Group 4: Analyst Forecast Revisions - Recent revisions to analyst forecasts for PDD Holdings Inc. are crucial as they reflect changing business trends and analysts' confidence in the company's performance [4]. - Positive revisions in estimates are linked to stock price performance, indicating potential investment opportunities [5]. Group 5: Valuation Metrics - PDD Holdings Inc. is currently trading at a Forward P/E ratio of 8.82, which is significantly lower than the industry average of 16.84, suggesting it is undervalued [7]. - The company has a PEG ratio of 0.91, compared to the Internet - Commerce industry's average PEG ratio of 1.14, indicating favorable growth expectations relative to its price [8]. Group 6: Industry Ranking - The Internet - Commerce industry, which includes PDD, has a Zacks Industry Rank of 193, placing it in the bottom 22% of all industries, suggesting challenges within the sector [8][9].

Market Overview - US stock market showed mixed results as investors digested the latest Federal Reserve interest rate decision, with the Dow Jones increasing by 12.19 points (0.02%) to 49,015.60, and the Nasdaq rising by 0.17% to 23,857.45, while the S&P 500 slightly declined by 0.01% to 6,978.03, marking an intraday historical high above 7,000 points [3] Technology Sector Performance - Star tech stocks exhibited divergence, with Nvidia rising by 1.59%, Google by 0.38%, and Microsoft by 0.22%. In contrast, Tesla fell by 0.10%, while Meta, Amazon, and Apple dropped over 0.6%, with Apple down by 0.7% and Oracle down by 1.20% [4][5] - The Nasdaq China Golden Dragon Index increased by 0.32%, with Alibaba up by 1.70%, NetEase by 1.46%, and Baidu by 0.02%. However, JD.com fell by 0.92% and Pinduoduo dropped by 3.84% [4] Semiconductor Sector Insights - The Philadelphia Semiconductor Index rose by 2.3%, with Intel increasing by 11.04% and Texas Instruments by 9.9%. However, ASML saw a decline of 2.1% despite reporting record net sales of €9.7 billion for Q4 2025, exceeding market expectations [6] - ASML's order volume reached €13.2 billion, double the analysts' average forecast, and the company raised its sales outlook for 2026 to between €34 billion and €39 billion, compared to the analysts' expectation of €35 billion [6] Federal Reserve and Economic Indicators - The Federal Reserve decided to maintain interest rates, citing robust economic expansion and signs of stabilization in the unemployment rate. Fed Chair Jerome Powell indicated that current monetary policy is not significantly tight [6][7] - The current inflation level is slightly above the Fed's target, while unemployment has risen, creating a contradiction that keeps the Fed's policy stance neutral until data changes necessitate a clear choice [7] Commodity Market Movements - Precious metals saw strong gains, with COMEX gold futures for January delivery rising by 4.36% to $5,301.60 per ounce, and silver futures increasing by 7.19% to $113.11 per ounce [8]

PDD Holdings Inc. (NASDAQ:PDD) is one of the 11 Most Profitable Cheap Stocks to Invest In Now. On January 15, Morgan Stanley reaffirmed its Overweight rating on PDD Holdings Inc. (NASDAQ:PDD) with a $148 price target but removed the stock from its Top Pick list because of rising regulatory risks and broader market uncertainty affecting Chinese internet companies. Morgan Stanley pointed out that “the investigation into food delivery platforms launched by The General Office of Anti-Monopoly and Anti-Unfair ...

《财经》新媒体 撰稿人 舒志娟/文 王婧雅/编辑 在广州的研发室里，一个混合羽衣甘蓝与黑咖啡的奇想，仅用七天便变成货架上的爆款；而一个曾对平 台心存疑虑的高端品牌，在此用两个月实现了月销百万的显著增长。这是轻上与每日乔安的故事，更是 品牌在拼多多实现增长的缩影。如今，一批生于数据、长于平台的新锐品牌，正以惊人的速度重新定义 市场规则。 无论是潮饮轻上跑通的短链模式，还是每日乔安实现的品效协同效应，二者背后共同揭示同一趋势：拼 多多已从单纯的交易场，演进为融合需求探测、市场验证、供应链响应的新商业基础设施。其本质 是"需求定义供给"逻辑的全面落地。平台不再只是流量的分发者，更成为连接消费端与制造端的价值转 换中枢，推动品牌实现从产品创新到用户沉淀的全链路跃升。 这一切的根基，源于拼多多"All in 中国供应链"的战略转型。通过"千亿扶持计划"的"新质供给"专项， 平台正系统性地从流量运营转向产业布局，持续赋能制造端实现数字化、品牌化升级。从数据驱动的短 链响应，到产业带的集群增效，一场以供应链为核心的高质量发展浪潮已然展开。 七天跑出一个热销产品 数据驱动研发快速迭代 在广州番禺的一间研发室里，羽衣甘蓝与黑咖 ...

近日，全球消费健康领导品牌赫力昂集团与拼多多达成重大战略合作，赫力昂中国大陆及香港地区总经 理顾海英亲率中国区管理团队到访拼多多总部，双方高管团队就健康普惠、市场拓展和产品共创等议题 进行了深入探讨，并宣布开启新一轮战略合作，持续扩大赫力昂在中国市场的影响力。 四重护齿矩阵* रु 新 防蚊+抗敏 SENSODYNE ® 防蛙 NaF 抗 越 洁齿 清 新 防蛀抗敏牙膏 四重护齿矩阵 ▲2025年，舒适达在拼多多全网独家首发舒适达防蛀抗敏系列牙膏，带动品牌新客户获得可观增长。 "县域市场对于舒适达而言是一座巨大的金矿，做好城市渗透、品牌渗透是舒适达未来的重要增长引 擎。2026年，我们专注于牙龈健康的品牌'益周适'也将在拼多多上线官旗店，并推出独家新品，希望借 助与平台进一步的深度共创，持续赋能消费者自主健康管理。"赫力昂口腔事业部高级电商KA经理韩佳 阳表示。 顾海英表示，中国市场对于赫力昂具有重要战略地位，当前中国消费者日益提升的品质、健康需求正为 赫力昂带来新的发展机遇。"以口腔健康为例，中国消费者已从普通的清洁型、美白型需求升级到各类 功能需求，对于全身心健康的重视程度加速提升，而这正是赫力昂得以发挥 ...

Military and Geopolitical Developments - The US Central Command announced that the Ninth Air Force will conduct air force readiness exercises in the Middle East, aimed at enhancing rapid deployment capabilities [2] - The USS Abraham Lincoln Carrier Strike Group has entered the Middle East, and the US has informed Israel about military preparations against Iran, expected to be completed within two weeks [2] - Iran's Revolutionary Guard Navy officials stated they have achieved real-time monitoring of the Strait of Hormuz and are prepared for any potential conflict, asserting they do not seek war but are ready for a response [2] Financial Markets Overview - US stock markets showed mixed results, with the Dow Jones down 0.83%, while the Nasdaq rose by 0.91% and the S&P 500 increased by 0.41% [3] - Major tech stocks mostly rose, with Amazon up 2.63%, Microsoft up 2.19%, and Apple up 1.12%, while Tesla fell nearly 1% [3] - The Nasdaq Golden Dragon China Index increased by 0.48%, with mixed performances among popular Chinese stocks [3] Commodity Prices - International oil prices rose, with WTI crude oil futures closing at $62.57 per barrel, up 3.20%, and Brent crude oil futures at $66.70 per barrel, up 2.98% [3] - Spot gold increased by 3.45%, reaching $5,181.04 per ounce, with a peak at $5,190.06, marking a historical high [3] - Spot silver rose by 7.97%, priced at $112.14 per ounce [3] Currency and Exchange Rates - The US Dollar Index fell to 95.775, hitting a low of 95.510, the lowest since early 2022 [4] - The offshore RMB was quoted at 6.9321, while the onshore RMB was at 6.9545 [5] Corporate Announcements - Anta Sports announced plans to acquire a 29.06% stake in Puma for €15.06 billion (approximately 123 billion RMB), aiming to become its largest shareholder [15] - Micron Technology plans to invest $24 billion in Singapore over the next decade to expand NAND flash memory production, creating approximately 1,600 jobs [16] - DeepSeek launched a new AI model, DeepSeek-OCR 2, which can interpret images in a human-like logical sequence, enhancing its visual understanding capabilities [13]

Market Performance - On January 27, the US stock indices closed mixed, with strong performance in technology stocks driving the Nasdaq and S&P 500 up. The Dow Jones fell by 0.83% to 49,003.41 points, while the S&P 500 rose by 0.41% to 6,978.6 points, and the Nasdaq increased by 0.91% to 23,817.1 points [1][2]. Technology Sector - Six out of the seven major US technology companies saw stock price increases, with Nvidia and Apple rising over 1%, and Microsoft and Amazon increasing by more than 2%. However, Tesla's stock fell by 0.99%. Tesla's market share in the EU, UK, and EFTA dropped to 3% in December, while BYD's market share was 2.4%. Tesla's pure electric vehicle market share stands at 11.4% [2][3]. Semiconductor Stocks - Most semiconductor stocks experienced gains, with Intel rising by 3.39%, ASML by 2.92%, Broadcom by 2.43%, TSMC by 1.67%, and AMD by 0.26%. ARM saw a slight increase of 0.18%, while Qualcomm's stock fell by 0.96% [3]. Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 0.48%, with many popular Chinese stocks performing well. Notable increases included Huya up nearly 20%, Kingsoft Cloud up 8.77%, Bilibili up 3.43%, Baidu up 1%, Alibaba up 0.79%, NIO up 0.65%, New Oriental up 0.56%, Tencent Music up 0.18%, and Pinduoduo up 0.05% [3]. Commodity Market - International oil prices surged, with US oil closing nearly 3% higher on January 27 and continuing to rise slightly on January 28. Brent crude oil also saw an increase of over 3% on January 27 [3]. Precious Metals - On January 28, spot gold prices slightly declined, while silver experienced a significant drop of 1%. In less than a month, both London spot silver and COMEX silver futures have seen year-to-date increases exceeding 50%. According to Guoyuan Futures, industrial demand for silver is expected to stabilize and decline by 2026, but physical investment demand is anticipated to expand, suggesting that precious metal prices may continue to strengthen [4]. Cryptocurrency Market - Cryptocurrencies saw a broad increase, with Bitcoin rising above $89,000, marking a 1.26% increase. Ethereum also rose by 3.18% to $3,018. Other cryptocurrencies like Solana, XRP, and Dogecoin experienced gains as well [5]. Geopolitical Developments - Reports indicate that the CIA is secretly pushing for a "long-term presence" in Venezuela, with plans to influence the country's future under the Trump administration. This may involve creating conditions for US diplomatic actions [6]. Additionally, the US has communicated to Israel its military preparedness regarding Iran, with potential actions expected in the coming months [7]. Consumer Confidence - A preliminary survey by the World Large Enterprises Research Association indicated that the US consumer confidence index dropped significantly from a revised 94.2 in December to 84.5 in January, marking the lowest level since May 2014 [7].

Market Overview - The Nasdaq China Golden Dragon Index (HXC) increased by 0.48% on January 28 [1] - The Dow Jones Industrial Average fell by 408.99 points, a decrease of 0.83%, closing at 49,003.41 points [9] - The S&P 500 Index reached a new intraday high of 6,988.82 points [10] - The Nasdaq Composite Index rose by 215.74 points, an increase of 0.91%, closing at 23,817.10 points [9] Gainers in Chinese Concept Stocks - TSMC rose by 1.67%, Alibaba increased by 0.78%, and Baidu gained 1.00% [1] - Notable gainers included: - Lianhua Electronics up 10.24% - Bilibili up 3.43% - NIO up 0.76% [1][9] Losers in Chinese Concept Stocks - Notable decliners included: - NetEase down 0.68% - JD.com down 0.94% - Ctrip down 2.39% [9] - Other significant losses were seen in: - Li Auto down 1.12% - Xpeng down 1.09% [9] Notable Stock Movements - The top gainers included: - Huya up 19.33% - Suxuan Hall up 23.97% - Wisdom Infinite up 31.25% [3][13] - The top decliners included: - Fanhua Financial down 11.42% - China Natural Resources down 9.38% [7][15]