钛媒体App 1月20日消息，财政部副部长廖岷在国新办新闻发布会上表示，中国财政补贴规模远远低于 一些国际机构估算。中国企业的技术进步和竞争优势，靠的不是财政补贴，而是中国企业持续的研发投 入和千千万万企业家艰苦创业。对于个别地方可能存在的违规行为高度重视，财政部已会同有关部门组 成了跨部门专班，下一步将持续完善专班工作机制，加强信息共享和监管系统，健全财政补贴规范管理 制度体系，深入推进清理规范工作，同时，也会压实属地责任，加强监督管理，对违规问题发现一起， 纠治一起。（中国网） ...

Market Overview - The A-share market saw all three major indices close lower, with the ChiNext index leading the decline, dropping nearly 2% [1] - The Shanghai Composite Index closed at 4113.65 points, down 0.01%, with a trading volume of 12.215 billion yuan; the Shenzhen Component Index closed at 14155.63 points, down 0.97%, with a trading volume of 15.563 billion yuan; the ChiNext Index closed at 3277.98 points, down 1.79%, with a trading volume of 7.093 billion yuan [1] Sector Performance - In terms of sector performance, there were more declines than gains, with the precious metals, chemical raw materials, cement building materials, and chemical fiber industries showing the largest gains, while sectors such as communication equipment, photovoltaic equipment, aerospace, power equipment, batteries, computer equipment, and electronic components experienced the largest declines [1] Hot Stocks - The chemical sector saw a surge, with over ten constituent stocks hitting the daily limit, including Hongbaoli, Shandong Heda, Weiyuan Co., and Hongqiang Co. [2] - The precious metals concept continued its strong performance, with Hunan Silver hitting the daily limit [2] - The real estate sector was active, with Dayue City and Urban Investment Holdings also hitting the daily limit [2] - In the AI application sector, stocks like Jiayun Technology, Yue Media, and Zhejiang Wenhe Internet also reached the daily limit [2] - Overall, more than 2100 stocks in the market rose, with over 60 stocks hitting the daily limit [2] Institutional Insights - According to Jifeng Investment Advisors, the market's short-term fluctuations are primarily due to capital switching, but the core logic for a positive market outlook remains unchanged, supported by resilient economic fundamentals and policy easing from the central bank [3] - CITIC Securities highlighted that the AI application sector has become a main line for 2026, with a year-to-date increase of 19%, leading the A-share market [4] - The semiconductor, consumer electronics, AI, robotics, and commercial aerospace sectors are recommended for mid-to-long-term investment opportunities [3] Policy Updates - Four departments announced a policy to provide a 1.5% interest subsidy on fixed asset loans for equipment updates, with a support period not exceeding two years, expanding the scope to include various sectors such as industrial, energy, transportation, and AI [5] - The Ministry of Finance and three other departments extended the personal consumption loan interest subsidy policy until the end of 2026, adjusting the terms to include credit card installment payments and removing previous limits on subsidy amounts [6]

当一只不会说话的"猫头鹰"在CES展台上转动脑袋、悄悄望向你时，许多人停下了脚步。这款名为 Joobie的AI宠物玩具，没有复杂的语音交互，却凭借细腻的触感反馈和拟生行为，成为了2026年国际消 费电子展上最受关注的"情感焦点"。 它并不是个例。从华为秒罄的"智能憨憨"，到京东持续补货的AI毛绒玩具，再到字节跳动依托豆包大模 型推出的多款陪伴产品——AI玩具，正以"情感伙伴"的姿态，悄然走进大众日常。投融界CEO邹晴观察 到："这一趋势背后，是现代人在碎片化生活中对'低负担陪伴'的真实渴望。技术正以前所未有的温 度，回应这种情感需求。" 一、从功能响应到情感共鸣 如果说传统玩具的核心是"被观看"，那么AI玩具的关键词已变为"被感知"。 "以前的玩具是'一成不变'的，而现在的AI玩具可以'越来越懂你'。"一位行业观察者如此总结。这 种"懂"，不仅体现在语音对话、故事讲述、智能提醒等功能层面，更在于产品开始具备情绪识别、互动 记忆乃至性格养成的能力。 二、赛道升温：情绪消费驱动下的多元生态 AI玩具赛道的参与者已形成多元矩阵：创业公司如珞博智能、跃然创新凭借敏捷创新快速崛起；科技 巨头通过技术与生态优势积极布局； ...

Market Overview - The three major indices collectively declined, with the ChiNext Index dropping by 1.79% and briefly falling over 2% during the trading session [1][2] - The Shanghai Composite Index fell by 0.01%, and the Shenzhen Component Index decreased by 0.97% [1][2] - The total trading volume in the Shanghai and Shenzhen markets reached 2.78 trillion yuan, an increase of 694 billion yuan compared to the previous trading day [1][2] - Over 3,100 stocks in the market experienced declines [1][2] Sector Performance - The chemical sector showed strong performance, with over ten constituent stocks hitting the daily limit, including Hongbaoli, Shandong Heda, Weiyuan Co., and Hongqiang Co. [1][2] - Precious metals continued to perform well, with Zhaojin Gold achieving two consecutive limit-ups and Hunan Silver also hitting the limit [1][2] - The real estate sector was active, with Dayue City and Urban Investment Holdings reaching the daily limit [1][2] - AI application stocks saw localized gains, with Jiayun Technology, Yue Media, and Zhejiang Wenhu Interconnect hitting the limit [1][2] Declining Sectors - The computing hardware and commercial aerospace sectors experienced significant declines [1][2] - Stocks in the commercial aerospace sector collectively fell, with Shenjian Co. facing four consecutive limit-downs and Aerospace Power experiencing two consecutive limit-downs [1][2]

Market Overview - The three major indices collectively declined, with the ChiNext Index dropping over 2% at one point. The Shanghai Composite Index closed down 0.01%, the Shenzhen Component Index down 0.97%, and the ChiNext Index down 1.79% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.78 trillion yuan, an increase of 69.4 billion yuan compared to the previous trading day [5][6] Index Performance - Shanghai Composite Index: 4113.65, down 0.01% [2] - Shenzhen Component Index: 14155.63, down 0.97% [2] - ChiNext Index: 3277.98, down 1.79% [2] - The market saw over 3100 stocks decline, with a significant number of stocks in the chemical sector hitting the daily limit up [2] Sector Performance - The chemical sector showed strong performance, with several stocks such as Hongbaoli and Shandong Heda hitting the daily limit up [2] - Precious metals continued to perform well, with stocks like Zhaojin Gold and Hunan Silver reaching the daily limit up [2] - The real estate sector was active, with stocks like Dayuecheng and City Investment Holdings also hitting the daily limit up [2] Stock Movements - AI application stocks saw partial gains, with companies like Jiayun Technology and Yue Media hitting the daily limit up [3] - Conversely, sectors such as computing hardware and commercial aerospace experienced significant declines, with stocks like Shenjian Co. and Aerospace Power facing consecutive limit downs [3]

Market Overview - The total trading volume in the Shanghai and Shenzhen markets reached 2.78 trillion yuan, an increase of 69.4 billion yuan compared to the previous trading day [1][6] - The three major A-share indices opened high but closed lower, with the Shanghai Composite Index down 0.01%, the Shenzhen Component Index down 0.97%, and the ChiNext Index down 1.79% [1][2] Sector Performance - The satellite internet, CPO, commercial aerospace, and communication sectors led the decline, while cultivated diamonds, real estate, petrochemicals, and infrastructure sectors showed the most significant gains [2] - The chemical sector experienced a notable surge, with stocks such as Hongbaoli, Shandong Heda, Subote, and Hongqiang shares hitting the daily limit [2] Notable Stocks - The top gainers included Meibang Technology (+29.94%), Yida Co. (+11.96%), and Qicai Chemical (+10.71%) [3] - In the precious metals sector, Hunan Silver and Zhaojin Gold both reached the daily limit, with gains of 10.03% and 10.02% respectively [4][5] Capital Flow - Main capital inflows were observed in the real estate, banking, and cement materials sectors, while there were outflows from power equipment, communication, and aerospace sectors [9] - Specific stocks with significant net inflows included Shanghai Electric and China Power Construction, with inflows of 795 million yuan and 708 million yuan respectively [9] Institutional Insights - Guotai Junan expressed that the index is expected to experience strong range-bound fluctuations, recommending a focus on technology and cyclical sectors during pullbacks [9] - Flash Gold Asset Management noted that the fundamental logic for hard technology development remains unchanged [9] - Huaxin Securities projected that the potential incremental capital scale for A-shares could reach approximately 3 trillion yuan by 2026, with public funds, insurance funds, and bank wealth management being the main contributors [9]

Core Viewpoint - The three major indices opened high but closed lower, with the ChiNext index experiencing a drop of over 2% during the day [1][2]. Market Performance - As of the market close, the Shanghai Composite Index fell by 0.01%, the Shenzhen Component Index decreased by 0.97%, and the ChiNext Index dropped by 1.79% [1][2]. - The real estate sector showed strength, with stocks such as Doyou City, Urban Investment Holdings, China Enterprise, and Hefei Urban Construction reaching their daily limit [1][2]. - The chemical sector also performed well, with stocks like Jiangtian Chemical, Cangzhou Dahua, and Hongbaoli hitting their daily limit [1][2]. - The AI marketing concept was active, with stocks like Zhejiang Wenlian and Guangdong Media reaching their daily limit [1][2]. - Precious metals experienced fluctuations, with stocks such as Zhaojin Gold and Hunan Silver also hitting their daily limit [1][2]. Sector Performance - The sectors with the highest gains included real estate, daily chemicals, chemical fibers, water utilities, and banking [1][2]. - Conversely, sectors that saw declines included communication equipment, military information technology, aviation, satellite navigation, and commercial aerospace [1][2].

Market Performance - The three major A-share indices collectively declined, with the Shanghai Composite Index down 0.01% to 4113 points, the Shenzhen Component Index down 0.97%, and the ChiNext Index down 1.79% [1] - The total market turnover reached 2.8 trillion yuan, an increase of 72 billion yuan compared to the previous trading day, with over 3100 stocks declining [1] Sector Performance - The commercial aerospace and satellite internet sectors experienced significant declines, with multiple stocks such as Tongyu Communication and Sanwei Communication hitting the daily limit down [1] - The CPO concept and optical communication module sectors also fell, with Tiantong Co. hitting the daily limit down [1] - The photovoltaic equipment sector declined, with Guosheng Technology hitting the daily limit down [1] - The military industry sector weakened, with stocks like Shenjian Co. hitting the daily limit down [1] - Other sectors that saw notable declines included Hainan, 6G concept, PCB, and battery sectors [1] Rising Sectors - The epoxy propane and chemical raw materials sectors saw gains, with stocks like China Chemical and Hongbaoli hitting the daily limit up [1] - Spot gold prices surpassed 4700 USD for the first time, leading to a continued rise in the precious metals sector, with Hunan Silver and Zhaojin Gold both hitting the daily limit up [1] - The cultivated diamond sector also saw a rise, with Hengsheng Energy hitting the daily limit up [1] - Other sectors with notable gains included glyphosate and longevity drugs [1]

Group 1 - The core viewpoint of the article highlights the challenges faced by the AIDC power supply system, including stability, cost control, and carbon emission management, amidst the rapid growth of global intelligent computing centers and increasing energy consumption demands [1] - It is projected that AIDC energy consumption will reach 77.7 billion kilowatt-hours by 2025, indicating a significant rise in energy needs [1] - The article suggests constructing a diversified energy network and promoting new technologies such as solid-state transformers (SST) to address these challenges [1] Group 2 - By 2030, the domestic AIDC installed capacity is expected to reach 17.7 GW, with the SST market space estimated at approximately 13.27 billion yuan, reflecting a compound annual growth rate of 64.9% [1] - The Chuangye Board New Energy ETF Guotai (159387) tracks the Innovation Energy Index (399266), which focuses on high-growth and innovative companies within the new energy sector, particularly in solar energy, wind energy, electric vehicles, and related services [1] - The Innovation Energy Index has a daily price fluctuation limit of 20%, showcasing its potential for significant market movements [1]

Market Performance - The Shanghai Composite Index fell by 0.3%, the Shenzhen Component Index decreased by 1.22%, the ChiNext Index dropped by 1.83%, and the STAR Market Index declined by 1.43% [1][1][1] - Sectors such as satellite internet, CPO, commercial aerospace, and 6G experienced significant declines, while real estate, advanced packaging, and retail sectors saw gains [1][1][1] Technical Indicators - A MACD golden cross signal has formed, indicating potential upward momentum for certain stocks [1][1]