一、上市公司重要公告 零跑汽车在港交所公告，12月28日，公司与一汽股权订立内资股认购协议，据此，公司已有条件同意向 一汽股权发行74,832,245股内资股，认购价为每股内资股认购股份人民币50.03元（相当于55.29元港元， 零跑最新收盘价为49.84港元），内资股认购股份将根据一般授权发行。 二、外围市场与关联资产 金属市场方面，现货白银价格日内大幅上涨，先后突破80、81、82、83美元/盎司关口，日内涨幅达 4.89%；纽约期银同步走高，突破81、82美元/盎司，日内涨幅6.33%。 钯金期货突破2100美元/盎司，日内涨3.91%。 黄金方面，纽约期金突破4570、4580美元/盎司，日内涨0.61%，现货黄金则失守4530美元/盎司，日内 跌0.07%。 此外，布伦特原油突破61美元/桶，日内涨0.49%。 国际市场动态中，贸易限制解除消息推动SK海力士盘前股价大涨8.2%。 加密货币方面，比特币升破88000美元，日内涨0.18%。 三、宏观经济与市场分析 责任编辑：喜娜AI 一、上市公司重要公告 零跑汽车在港交所公告，12月28日，公司与一汽股权订立内资股认购协议，据此，公司已有条件同意向 ...

Group 1: IPO Overview - This week marks the last trading week of 2025, with no new IPOs scheduled from December 29 to 31 unless changes occur [1] - Three companies are set to present their IPOs this week: Weitongli for the Shenzhen Main Board, and Peicheng Technology and Guantai Vacuum for the Beijing Stock Exchange [1] Group 2: Weitongli - Weitongli focuses on the research, production, and sales of a range of electrical connection products, including hard connections, flexible connections, contact components, laminated busbars, and CCS [1] - The company aims to provide high-performance electrical connection products tailored to the specific needs of global customers, enhancing safety, reliability, and intelligence in electrical connections [1] - Weitongli serves high-end clients in various sectors, including major companies like Siemens, Schneider, ABB, Hitachi Energy, and GE in the electrical engineering field, as well as BYD, Stellantis, and others in the new energy vehicle sector [1] Group 3: Guantai Vacuum - Guantai Vacuum specializes in the research, manufacturing, and sales of vacuum equipment, with integrated capabilities from equipment design to delivery [2] - The company focuses on functional materials, particularly in the rare earth permanent magnet industry, with products such as vacuum sintering furnaces and vacuum melting furnaces [2] - The rare earth permanent magnet industry has been the largest revenue contributor for Guantai Vacuum in recent years [2] Group 4: Peicheng Technology - Peicheng Technology is positioned as a value-added service provider in the lithium battery new energy sector, focusing on the demand for key components in batteries, power supplies, and electric vehicles [2] - The company specializes in the independent research, production, and sales of third-party battery management systems (BMS) and power control systems (PCS) [2] - Peicheng Technology provides component application solutions centered around integrated circuits and discrete devices [2]

Group 1: Automotive Industry Developments - Chongqing government has added 160 million yuan in subsidies for vehicle replacement and scrapping, bringing the total subsidy amount to 185 million yuan, with applications open from December 27, 2025, to January 10, 2026 [1] - Leap Motor has launched its first MPV model D99, aiming for a sales target of 1 million units in 2026 after achieving nearly 600,000 units in 2025 [2] - CATL plans to significantly scale up the application of sodium batteries in various sectors including battery swapping, passenger vehicles, commercial vehicles, and energy storage in 2026 [3] Group 2: Market Trends and Challenges - The demand for new energy lithium batteries is expected to decline significantly in early 2026, with a projected drop of at least 30% in sales of new energy passenger vehicles due to policy adjustments [2] - The price of silver has surged over 17% in the past week, raising concerns from industry leaders like Elon Musk regarding its impact on industrial production [5] - Russia has extended its temporary export ban on automotive gasoline and other oil products until February 28, 2026, affecting all exporters [6] Group 3: Financial and Legal Matters - Xinwanda's subsidiary is facing a lawsuit with a claim of 2.3 billion yuan due to alleged quality issues with battery cells delivered to a client [3] - Weinan has completed nearly 1 billion yuan in Series C equity financing, which will be used for battery asset investments and technology research and development [4]

Group 1 - The Chinese government will adjust the scope and standards of the "National Subsidy" program in 2024, expanding it to include more consumer goods and services, with a focus on stimulating consumption [4][5] - The "National Subsidy" program will continue to support the replacement of old vehicles and various household appliances, with an increase in funding from 150 billion yuan in 2024 to 300 billion yuan in 2025 [4][5] - Experts suggest shifting the focus of subsidies from goods to services and increasing cash and digital currency subsidies to better support consumer spending [5] Group 2 - Wentai Technology is pursuing legal action to reclaim its control over Nexperia, with potential claims reaching up to $8 billion if unresolved within six months [7][8] - Geely's subsidiary is suing Awin for over 2.3 billion yuan due to quality issues with battery cells supplied between June 2021 and December 2023 [9][10] - Awin has faced complaints from customers regarding battery performance, leading to a significant lawsuit that could impact its financial standing [9][10] Group 3 - Duzhi Technology announced a year-end bonus of 26 million yuan, distributing gold to all employees, reflecting its strong performance with over 100% annual growth for six consecutive years [12][13] - The company has expanded its market share in the robotic vacuum sector, ranking third globally with a 12.4% share [13] Group 4 - NetEase announced the retirement of its executive vice president Ding Yingfeng, who will continue as a consultant, highlighting a trend of "soft exits" for senior executives in Chinese tech companies [14] - Ding has been instrumental in the development of several flagship games and the establishment of a professional game development system at NetEase [14] Group 5 - BYD is undergoing a significant internal restructuring, merging its 13th division into other departments and adjusting executive roles, indicating a strategic shift in its organizational structure [20][21] - The company has also implemented substantial salary increases for technical staff, signaling a commitment to retaining talent amid competitive market conditions [21] Group 6 - Zero Run Technology aims to sell 4 million vehicles annually in the next decade, focusing on international expansion and leveraging local partnerships for market entry [23] - The company has reported significant overseas orders, positioning itself as a leader in the new energy vehicle sector [23] Group 7 - Apple, Qualcomm, and MediaTek are set to launch 2nm chips in 2026, marking a significant advancement in semiconductor technology [37][38] - TSMC is ramping up production capacity for 2nm chips, indicating strong demand from major tech companies [37][38] Group 8 - OpenAI is recruiting a new safety officer with a salary of $555,000 to address potential risks associated with its AI models, reflecting the company's focus on safety amid growing scrutiny [45][46] - The role is critical as OpenAI faces legal challenges related to the impact of its technology on user mental health [45][46]

登录新浪财经APP 搜索【信披】查看更多考评等级 【头条要闻】 国务院国资委：国有企业要带头抵制"内卷式"竞争 带动产业链上下游企业融通发展 其中提到，确保进一步深化国资国企改革取得新成效。党的二十届三中全会明确的各项改革任务需要在 2029年完成。国资国企改革是经济体制改革的重要内容，是做强做优做大国有企业和国有资本的关键一 招，必须以实施新一轮深化国资国企改革为抓手，以构建新型生产关系为重点，完善中国特色现代企业 制度，健全公司治理结构，推动党的领导融入公司治理各环节，差异化推进董事会建设，深化三项制度 改革，持续提升经理层成员任期制契约化管理水平，健全市场化用工模式，按照"规范、激励、倾斜"一 体推进要求，进一步加强薪酬管理。优化企业管理运营体系，加快组织形态和管理流程变革，持续推动 扁平化、智能化改造，不断压缩管理层级、缩短决策链条，提升企业对市场环境变化和产业发展趋势的 敏锐度，大力推动效率革命。完善国有资产管理监督体制机制，研究制定国有企业履行战略使命评价制 度，完善国有企业增加值核算方法，深化"一企一策"分类考核，进一步加强和改进出资人监督，推进穿 透式监管，确保既"放得活"又"管得好"。 明年 ...

特朗普称俄乌冲突谈判"接近达成协议"，覆盖95%关键议题，但顿巴斯问题仍需磨合，不排除举行美俄 乌三方会晤[14]。 来源：喜娜AI 一、国际新闻 国际贵金属市场日内呈现剧烈波动，现货白银价格持续攀升，先后突破80、81、82、83美元/盎司关 口，日内涨幅最高达4.89%，今年累计涨幅已扩大至51美元[1][2][3][4][5]。 纽约期银同步大涨，突破81、82美元/盎司，日内涨幅达6.33%[6][7]。 钯金期货突破2100美元/盎司，日内涨3.91%[8]。 黄金市场则呈现分化，纽约期金突破4580美元/盎司，日内涨0.61%，而现货黄金失守4530美元/盎司， 日内微跌0.07%[9][10][11]。 受市场波动影响，芝商所宣布将于12月29日收盘后全面上调黄金、白银、锂等金属期货品种的履约保证 金，以应对市场风险[12]。 地缘政治方面，乌克兰总统泽连斯基与美国总统特朗普于12月28日在佛罗里达州会谈后表示，双方就20 点和平计划中90%内容达成一致，美乌安全保障已"完全达成一致"，军事安排全部谈妥，经济计划进入 最终完善阶段[13]。 俄罗斯总统助理乌沙科夫表示，普京与特朗普认为欧盟提议的 ...

Group 1 - Xiaomi's Vice Chairman Lin Bin plans to sell up to $2 billion of his shares starting December 2026, aiming to establish an investment fund focused on emerging technologies and sports [3] - IBM's former CEO Lou Gerstner passed away at 83, credited with transforming the company from hardware to services, increasing its stock price from $13 to $80 and market cap from $29 billion to approximately $168 billion during his tenure [4] - ZhiMi Technology has achieved a compound annual growth rate exceeding 100% for six consecutive years, rewarding employees with gold as a bonus due to its explosive growth [6] Group 2 - A U.S. judge ruled that Apple can continue selling its smartwatches in the U.S. despite a patent dispute with Masimo, allowing Apple to import and sell its updated smartwatch designs [7] - Coupang's founder apologized for a data breach affecting customer information and promised to announce a compensation plan [9] - Tesla CEO Elon Musk expressed concerns over the recent surge in silver prices, which have risen over 17% in the past week due to severe global supply shortages [11] Group 3 - Indian instant delivery platform Zepto has submitted an IPO application, aiming to capitalize on the growing demand for rapid delivery services in urban areas [12] - Suzhou Yixin Semiconductor completed a strategic financing round, focusing on advanced Micro-LED packaging technology [12] - Beijing Hengyu Technology announced a $7.1 million A-round financing to enhance core R&D and business expansion [12] Group 4 - The first domestically developed 6-ton tilt-rotor aircraft, the Lan Ying R6000, successfully completed its maiden flight in Sichuan, marking a significant breakthrough in tilt-rotor technology [12] - Leap Motor launched its first MPV model D99, with a dual power version and aims to achieve sales of 1 million vehicles next year [14] - The 2025 Chinese film box office for the New Year’s release has surpassed 5 billion yuan, setting a new record for the same period in the past eight years [16]

根据内资股认购事项将予认购的7483.22万股内资股相当于截至本公告日期已发行内资股总数及经内资 股认购事项扩大后经扩大已发行内资股分别约25.74%及20.47%。内资股认购事项的所得款项总额将合 共为人民币37.44亿元(相当于约41.38亿港元)，其中，(i)约50%将用于研发投入；(ii)约25%将用于补充营 运资金及一般公司用途；及(iii)约25%将用于扩大销售及服务网络并增强品牌知名度。董事会已授权董 事长根据公司经营情况及中国证监会等监管机构审批意见，调整本次公司筹集所得款项用途。 相关事件 格隆汇12月29日丨零跑汽车(09863.HK)发布公告，2025年12月28日，公司与一汽股权订立内资股认购协 议，据此，公司已有条件同意向一汽股权发行7483.22万股内资股，认购价为每股内资股认购股份人民 币50.03元(相当于港元55.29元)。内资股认购股份将根据一般授权发行。 零跑汽车(09863.HK)拟向一汽股权发行内资股 总筹37.44亿元 向上，领跑 零跑汽车举办成立十周年发布 会 ...

Core Viewpoint - Leap Motor (09863) has announced a conditional agreement with FAW Equity to issue 74.8322 million domestic shares, representing approximately 25.74% and 20.47% of the total issued domestic shares before and after the subscription, respectively [1] Group 1 - The subscription price for each domestic share is set at RMB 50.03 [1] - The total proceeds from the subscription will amount to RMB 3.744 billion [1] - Approximately 50% of the proceeds will be allocated for research and development investments [1] Group 2 - About 25% of the funds will be used to supplement working capital and for general corporate purposes [1] - The remaining 25% will be directed towards expanding the sales and service network and enhancing brand awareness [1]

12月29日早间，零跑汽车在港交所公告，于2025年12月28日，公司与一汽股权订立内资股认购协议，据 此，公司已有条件同意向一汽股权发行74,832,245股内资股，认购价为每股内资股认购股份人民币50.03 元。内资股认购事项的所得款项总额将合共为人民币37.4386亿元（相当于约41.3750亿港元），其中约 50%将用于研发投入，约25%将用于补充营运资金及一般公司用途，约25%将用于扩大销售及服务网络 并增强品牌知名度。 ...