2026年首个交易日，A股高开高走，上证指数时隔34个交易日重回4000点。行业方面，保险领涨超 5%，医疗保健、电脑硬件、半导体等板块涨幅较大超过3%。沪市规模最大的人工智能AIETF （515070）盘中最高涨幅超2.7%，持仓股中三七互娱上涨10.00%，复旦微电上涨9.53%，澜起科技上涨 8.49%，协创数据、科大讯飞等个股跟涨。 个股方面，尽管自2025年11月17日沪指回到4000点之下，开启震荡盘整以来，A股仍有1826家上涨。其 中涨幅超过100%的有28只，成为市场最大的亮点。 华泰证券认为，节内海外中资股收涨，对投资者情绪影响偏正面，但突发的地缘问题或放大节前分歧， 市场走势短期预测难度变大，但认为资金及海外地缘扰动大概率为短期情绪冲击，不影响春季行情的向 上趋势，基于PMI数据改善、市场微观流动性仍充裕、政策面也有积极信号，春季行情大概率继续演 绎。 人工智能AIETF（515070）跟踪CS人工智能主题指数（930713），成分股选取为人工智能提供技术、 基础资源以及应用端个股，聚集人工智能产业链上中游，俗称"机器人"大脑"缔造者"，万物互联"地 基"。前十大权重股包括中际旭创、新易 ...

Group 1 - The A-share market opened positively, with the Shanghai Composite Index returning to 4000 points, and the CSI Artificial Intelligence Theme Index (930713) rising by 2.32% [1] - Key stocks in the AI sector saw significant gains, including 37 Interactive Entertainment up 10.00%, Xichuang Data up 7.60%, and Lanke Technology up 7.17% [1] - The AI ETF (515070) increased by 2.06%, with the latest price at 1.99 yuan, and has accumulated a rise of 3.79% over the past two weeks as of December 31, 2025 [1] Group 2 - According to Xinda Securities, the spring market is expected to revolve around policy and thematic rapid rotation, suggesting an increase in allocation to value sectors, with previously lagging sectors likely to experience structural rebounds [1] - The AI ETF (515070) tracks the CSI Artificial Intelligence Theme Index (930713), focusing on companies providing technology, basic resources, and applications in the AI industry, often referred to as the "brain" creators of robotics and the foundational layer of the Internet of Things [1] - The top ten weighted stocks in the AI ETF include leading domestic technology firms such as Zhongji Xuchuang, Xinyi Sheng, Cambricon Technologies, and Hikvision [1]

高途智成港致力于打造集科技教育、文化交流、人工智能应用于一体的智慧型未来科教综合体。在 项目现场，安伟与项目负责人深入交流，详细了解项目规划、功能定位和发展目标，对项目聚焦服务大 学生就业创业、赋能青年成长予以充分肯定。他勉励项目要着力打造青年人才的"蓄水池"和"练兵场"， 充分激发青年人的创新动力与发展活力，为郑州国家中心城市现代化建设持续输送高素质生力军和未来 发展的领军人才。属地和相关部门要深入实施百万大学生留郑计划和青年创新创业行动，做好全方位保 障，深化产教融合、科教融汇，为加快建设教育科技人才一体实践中心注入新的动力。 市领导庄建球、陈宏伟、虎强、马志峰、夏扬参加调研。 弘坊是集文、商、旅、购、娱等多位一体的新时代都市综合体。项目施工现场秩序井然，正按照施 工计划加紧推进。安伟重点了解项目建设过程中存在的困难问题及项目预期效果。他强调，要着力培育 新业态、营造新场景、激发新消费，全力打造高品质城市消费型地标。要瞄准一流定位，坚持一流标 准，争创一流工作，树立一流形象，确保项目高水平建设、高质量运营，充分展现现代化、品牌化、特 色化、国际化城市形象，助力郑州加快打造国际消费中心。 元旦假期后第一天， ...

证券研究报告 Manus即将加入Meta， AI Agent应用推广未来将有望加速 计算机行业 强于大市（维持） 平安证券研究所计算机团队 分析师： 闫磊 S1060517070006（证券投资咨询）YANLEI511@pingan.com.cn 2026年1月4日 请务必阅读正文后免责条款 黄韦涵 S1060523070003（证券投资咨询）HUANGWEIHAN235@pingan.com.cn 刘云坤 S1060525120004（证券投资咨询）LIUYUNKUN518@pingan.com.cn Manus即将加入Meta，AI Agent应用推广未来将有望加速 事件描述：北京时间12月30日，Manus发布公告称，Manus即将加入Meta。 点评：Manus称，这是对Manus在通用AI Agent领域里工作的认可。根据Manus公告信息，自发布以来，Manus 专注于构建通用型 AI Agent，帮助用户高效完成研究、自动化和复杂任务。面对全球越来越多用户的使用需求，团队持续迭代产品，努力使 Manus 在实际使用中更实用、更可靠。根据2025年12月初统计的数据，上线至今，Manus 已处理超 ...

Core Viewpoint - Unisoc plans to acquire a controlling or full stake in Ruineng Semiconductor Technology Co., Ltd. through a combination of share issuance and cash payment, marking a significant move in its semiconductor industry strategy [1] Group 1: Acquisition Details - Unisoc's stock and convertible bonds will be suspended from trading starting December 30, with a detailed transaction plan expected within 10 trading days [1] - The acquisition is characterized as a related party transaction and does not constitute a major asset restructuring or change of control [1] - Ruineng Semiconductor, established in August 2015, is a leading player in the domestic power semiconductor sector, with a registered capital of 362 million yuan [2] Group 2: Business Model and Operations - Ruineng Semiconductor focuses on the R&D, production, and sales of power semiconductor discrete devices, including thyristors, power diodes, and silicon carbide diodes, serving high-growth sectors like consumer electronics and renewable energy [2][3] - The company has built an integrated operating system covering chip design, wafer manufacturing, and packaging, with a strong emphasis on chip design and wafer manufacturing [3] - Ruineng's sales strategy combines a primary focus on distribution with supplementary direct sales, establishing a global sales network to mitigate market coverage costs and payment risks [3] Group 3: Strategic Importance - The acquisition is a strategic move to fill Unisoc's business gap in the power semiconductor field, which is crucial for energy conversion and control in emerging industries like electric vehicles and renewable energy [5] - This move allows Unisoc to expand its semiconductor product line and enhance its full industry chain layout from design to production and sales [5] - The global sales channels and R&D capabilities of Ruineng will aid Unisoc in further market expansion and technological innovation [5] Group 4: Financial Performance - For the first three quarters of 2025, Unisoc reported revenues of 4.904 billion yuan, a year-on-year increase of 15.05%, and a net profit of 1.263 billion yuan, up 25.04% [4] - The third quarter alone saw revenues of 1.857 billion yuan, reflecting a 33.60% year-on-year growth, with net profit soaring by 109.55% to 571 million yuan [4] Group 5: Strategic Alignment - The acquisition aligns with Unisoc's recent strategic initiatives, including the establishment of a central research institute focused on AI chips and high-performance sensors [6] - This dual approach of integrating advanced technology research with mature industry consolidation positions Unisoc to capitalize on the semiconductor industry's technological upgrades and domestic substitution opportunities [6] - Analysts suggest that Unisoc's diverse product offerings and market expansion efforts are likely to drive rapid revenue and profit growth in the future [6]

Group 1 - The core viewpoint of the report emphasizes "AI mainline multi-dimensional reinforcement and deepening of domestic trends" for the 2026 communication industry investment strategy [3][89]. - The report identifies three main areas of focus for AI communication: overseas mapping, optical communication prosperity, and changes in optoelectronic technology, all expected to evolve in 2026 [4][90]. Group 2 - The overseas AI computing network is shifting from a "Scale out" to a "Scale up" approach, with various standards and solutions emerging domestically, indicating a significant growth in Ethernet-based and open ecosystems [6][92]. - The optical communication industry is projected to experience a boom in silicon photonics solutions and the introduction of CPO networks in 2026, with the prosperity of the optical module market extending to upstream and downstream components [17][90]. - The trend towards optoelectronic integration is expected to reshape the communication industry’s division of labor and value distribution, with a high certainty of mixed optoelectronic trends [19][90]. Group 3 - The domestic trend in the communication sector is accelerating across four key areas: chips, cloud and infrastructure, networks, and end-side AI [91][92]. - In the chip sector, there is significant growth potential for domestic optical and Ethernet chips due to the current global supply chain dynamics [45][92]. - The cloud and infrastructure segment is witnessing a marked improvement in supply-demand dynamics, with the domestic AIDC industry poised for a "second inflection point" [52][92]. Group 4 - The network segment is expected to see a surge in domestic Scale up and supernode solutions, with the satellite internet industry entering a critical phase of large-scale launches and commercialization [74][92]. - End-side AI applications are anticipated to experience explosive growth in 2026, driven by the optimization of domestic large models and hardware costs [82][92].

Core Viewpoint - The announcement details a significant equity change involving a major shareholder of Unisplendour Corporation Limited, specifically the reduction of shareholding by the "Xinda Securities Fengshi No. 2 Single Asset Management Plan" from 5.50% to 4.999998%, which no longer qualifies it as a major shareholder [4][6]. Group 1: Equity Change Details - The equity change involves a reduction in shares held by Xinda Securities Fengshi No. 2 Single Asset Management Plan, which previously held 157,304,393 shares (5.50% of total shares) and has reduced its holdings to 143,003,924 shares (4.999998% of total shares) [4][5]. - The reduction was executed through centralized bidding from December 11, 2025, to December 30, 2025, with a total of 14,300,469 shares sold, representing 0.50% of the total share capital [5][6]. - This equity change does not trigger a mandatory takeover offer and will not result in a change of control for the company [3][6]. Group 2: Daily Related Transactions - The company plans to engage in daily related transactions with Beijing Zhiguangxin Holdings Co., Ltd. and its subsidiaries, with an estimated total amount not exceeding RMB 1,517 million for the year 2026 [9][16]. - The expected transactions include sales of products and services to related parties amounting to RMB 738.5 million and purchases from related parties amounting to RMB 778.5 million [9][16]. - The independent directors have reviewed and approved the related transaction proposal, affirming that it aligns with normal business operations and does not compromise the company's independence [45]. Group 3: Shareholder Meeting Notification - The company will hold its first extraordinary general meeting of 2026 on January 16, 2026, to discuss the proposed related transactions and other matters [48][49]. - The meeting will allow for both on-site and online voting, ensuring all shareholders can participate [49][50]. - The notice of the meeting has been disclosed in compliance with relevant regulations, ensuring transparency and adherence to corporate governance standards [48][49].

Group 1 - Zijin Mining expects a net profit of approximately 51-52 billion yuan for 2025, representing a year-on-year increase of about 59%-62% due to growth in gold, copper, and silver production and sales prices, along with a significant increase in lithium carbonate production [1] - Tianpu Co. has seen its stock price rise by 718.39% from August 22 to December 30, leading to a suspension for stock trading review due to significant deviation from the company's fundamentals [1] - Salt Lake Co. plans to acquire 51% of Wenkang Salt Lake for 4.605 billion yuan, which will enhance its competitive edge in lithium and potassium resource development [1] Group 2 - Mingde Bio intends to acquire 100% of Wuhan Bikaier Rescue Supplies Co. in a cash transaction, which is expected to constitute a major asset restructuring [2] - Jiamei Packaging has announced that it may apply for a trading suspension if its stock price continues to rise abnormally, despite no significant changes in its fundamentals [2] Group 3 - Jinpan Technology signed a contract worth approximately 696 million yuan for an overseas data center project, which is expected to positively impact the company's long-term performance [3] Group 4 - China Pharmaceutical plans to acquire 70% of Zezheng Pharmaceutical for 525 million yuan [4] - Shengxin Lithium Energy intends to acquire 30% of Qicheng Mining for 2.08 billion yuan to increase its control over Huirong Mining [5] - China Aluminum's subsidiary plans to acquire 51% of Yun Aluminum Logistics for 264 million yuan [5]

Group 1 - The State Council of China has announced the implementation of the Value-Added Tax Law, effective from January 1, 2026, detailing taxpayer scope, tax rates, tax calculation methods, tax incentives, and management measures [1] - The National Development and Reform Commission and the Ministry of Finance have released a policy for a large-scale replacement and recycling program for consumer goods, effective in 2026, covering categories such as automobiles, home appliances, and digital products [2] - Starting January 1, 2026, individuals selling residential properties purchased for more than two years will be exempt from value-added tax, while those selling properties purchased for less than two years will be subject to a 3% tax rate [3] Group 2 - The Ministry of Industry and Information Technology has issued a plan for the digital transformation of the automotive industry, aiming for significant improvements in smart manufacturing capabilities by 2027, including a 10% increase in labor productivity and a 20% reduction in product development cycles [4] - The i-Moutai platform will adjust its product offerings in 2026, including the introduction of various Moutai products, while denying rumors of a daily supply of 100 tons [5][6] - The National Investment Fund has issued a warning regarding the risks of investing in high-premium fund shares, highlighting significant price fluctuations in the market [7] Group 3 - The South Korean President will visit China from January 4 to 7, 2026, marking his first state visit since taking office, with expectations for enhanced strategic cooperation between the two countries [8] - Tianpu Co. has seen its stock price increase by 718.39% from August 22 to December 30, 2025, leading to a suspension of trading for verification due to significant deviations from the company's fundamentals [9] - The Ministry of Education plans to introduce policies in 2026 to promote artificial intelligence in education, with a focus on developing high-quality talent for the future [11]

Group 1 - The company announced the approval of the expected daily related transactions for the year 2026 by its ninth board of directors' nineteenth meeting [2] - The company also approved the agenda and timing for the first extraordinary shareholders' meeting of 2026 [2]