"你来看看，现在手机上就能远程操控浇地。"刘士龙笑着招呼。 庄稼不等人，节气催人进。豫东平原，雨水节气后，河南商丘市睢县后台乡南村的麦田里，冬小麦趁着 暖意"起身"拔节，促弱转壮、浇好返青水，成了春耕里最紧要的事。 几公里外的麦田里，智能灌溉机器人循着北斗导航自主巡航，360度旋转喷头洒出细密水珠，不压苗、 不跑水。 往年此时，刘士龙最怕浇地。搁以前，得一二十天才能浇完返青水，累得腰直不起来，还得凭经验估摸 墒情。 现在不同了。土壤传感器成了"千里眼"。传感器实时把墒情数据上传到手机，需要多少水、湿度多少， 一清二楚。"根据苗情精细化管理，光靠眼睛看，哪能准？"刘士龙设定好灌溉量，机器人就能按路线作 业。300多亩地，两三天浇完，用工两三人，节水又省工。 河南睢县把科创成果用到田间地头—— 手机遥控，机器人浇得麦苗壮 趁着走亲戚的间隙，农户刘士龙拿出手机，抓紧点击屏幕操作。"士龙，大过年的，你这是忙啥呢？"身 边的亲戚不解。 远程巡田，庄稼汉过上旅游年 今年过年，四川成都市大邑县种植户王刘根"忙"得有点不一样。"先带家人去周边的游乐园，再去福建 厦门市来次深度游。"他拿着手机订购门票、规划路线，认真劲儿和打理 ...

Core Viewpoint - The Hong Kong Special Administrative Region government has announced the formulation of its first "Five-Year Plan," aligning it with the national "14th Five-Year Plan," indicating a proactive approach to integrate into the national development framework and embrace future opportunities [1][2]. Group 1: Policy and Governance - The "Five-Year Plan" signifies a more robust governance style, requiring comprehensive planning with binding indicators, timelines, and responsible parties [2]. - Current outdated laws in Hong Kong hinder the adaptation to new products and technologies, necessitating the "Five-Year Plan" to streamline processes and create a more efficient business environment [2][3]. Group 2: Economic Development - The plan aims to cultivate new productive forces, leveraging Hong Kong's status as a financial hub and educational center, which includes five globally ranked universities and a pool of high-level international talent [2]. - The development of innovation and technology industries is expected to enhance Hong Kong's industrial balance and resilience against risks [2]. Group 3: Strategic Alignment - The "Five-Year Plan" will align with national strategies, such as enhancing Hong Kong's role in the financial sector, improving transportation collaboration within the Greater Bay Area, and fostering a strong domestic market [3]. - The plan emphasizes urban development without interfering with corporate autonomy, providing investors with clearer opportunities and a stable outlook for long-term growth [3].

头部三强的地位依然稳固。上海以56708.71亿元的经济总量遥遥领先，年度增量高达2949.18亿元，问鼎全国，犹如经济宇宙中的一颗超级恒星，光芒四射。 北京紧随其后，突破5.2万亿大关，2403.2亿元的增量同样实力非凡。京沪双雄构筑的5万亿壁垒，短期内难以被其他城市撼动，它们是中国经济的绝对领跑 者，是屹立于世界城市之林的巅峰代表。 | . | | 1 | | --- | --- | --- | | | | | | | 地区 | 2025 J | 2024 | 撸量 | 名义 | | --- | --- | --- | --- | --- | --- | | | | | | | 增长率 | | | 1 上海市 | 56708.71 53759.53 | | 2949.18 | 5.49% | | 2 | 北京市 | 52073.4 | 49670.2 | 2403.2 | 4.84% | | 3 | 深圳市 | 38731.8 36943.75 1788.05 | | | 4.84% | | 4 | 重庆市 | 33757.93 32046.73 | | 1711.2 | 5.34% | | 5 | 广州 ...

Core Viewpoint - The article emphasizes that 2026 will be a pivotal year for China's economic reform and development, with a focus on domestic demand and a shift towards a "non-typical" recovery process [3][4]. Domestic Macro Situation and Policy Mainline - The "15th Five-Year Plan" is expected to mark a year of comprehensive reform and development, with domestic demand changes anticipated to be more significant than external demand [3]. - Key highlights of the domestic economy include: 1. "Anti-involution" leading to a reduction in price indices and recovery in corporate profits 2. Service sector opening up, contributing to a rebound in consumption 3. Government-led initiatives in "new" infrastructure and increased private investment in consumption-related infrastructure [4]. Policy Perspective - The main line of the "15th Five-Year Plan" reflects a reconstruction of economic growth logic, with a shift in industrial policy towards "extraordinary" technological breakthroughs and a focus on quality [6]. - The emphasis on expanding domestic demand through service consumption and enhancing vitality through service sector openness is highlighted [6]. Overseas Economic and Policy Trends - Traditional "cyclical" sectors like manufacturing continue to recover, while AI capital expenditure remains a new growth point. Overall, the economies of the US, Europe, and Japan are expected to perform better in 2026 compared to 2025, with resilient external demand [9]. - The Federal Reserve's interest rate cut cycle is nearing its end, and the dollar is still in the first half of a long-term depreciation cycle [10]. Major Asset Allocation - With the recovery of nominal GDP, the process of "funds rebalancing" is expected to continue. The demand for market entry from Chinese residents moving their deposits may be underestimated, and international funds rebalancing could strengthen the renminbi [12]. - The recognition of the renminbi's appreciation trend is likely to gradually form a consensus, potentially driving the revaluation of Chinese assets and catalyzing structural trends in A-shares and Hong Kong stocks [13]. Observations from Local "Two Sessions" - The emphasis on expanding domestic demand has significantly increased in local government meetings, with accelerated transitions towards digitalization and green transformation in industries [7].

恭贺新春 2026年既是"十五五"的启幕之年，更是经济转型与制度改革全面发力的关键节点。2026年，经济将步入 非典型"复苏"状态，名义GDP修复过程中带动企业盈利改善；由于供需两端的助力，在行业间、企业间分 化明显，结构性特征依然会非常突出。 "反内卷"与"扩内需"将成为打破循环阻滞的核心抓手。 一方面，政策通过"反内卷"遏制低价竞争，修复 企业受损利润表，推动PPI转正与盈利回升；另一方面，政策突出"投资于人"，依托民生保障改革与服务 业开放，或将持续打开服务消费增长空间。为增强内需动能，财政政策仍将靠前发力，加大化债力度以缓 解对投资资金的"挤出效应"，确保固定资产投资，尤其是设备更新领域及数字基建与能源转型等方向投资 稳步修复，激发经济内生动力。 短期来看，2026年A股有望在"顺周期"新叙事下迎来资金"再平衡"的延续。伴随名义GDP修复与资产回报 率预期改善， 资金有望从低利率、高波动的债市向权益市场流动，推动资产价格重估。 尽管外部贸易形 势仍存在不确定性，但国内政策工具箱储备充足、出口结构持续优化，经济发展仍具韧性。资本市场将不 仅反映经济量的增长，更将定价质的提升与盈利的实质性改善，A股有望在 ...

Core Viewpoint - The public fund industry remains optimistic about the economic fundamentals and market trends, highlighting structural opportunities in A-shares driven by multiple favorable factors, particularly in technology growth, energy transition, and consumer recovery [1]. Economic Fundamentals - Economic fundamentals are expected to continue improving, with a solid foundation and resilience in China's economy. The central economic work conference emphasizes "seeking progress while maintaining stability" and aims for stable growth and reasonable price recovery, leading to a good start for the 14th Five-Year Plan [3][4]. - Corporate profit growth is anticipated to stabilize, with ongoing breakthroughs in technological self-reliance and ample liquidity supporting a rational upward revaluation of Chinese assets. A-share valuations are still within a reasonable range, and an increase in dividends is expected to enhance shareholder returns [3]. Capital Market Dynamics - The influx of long-term capital is a core factor for the steady rise of the capital market. The market is expected to exhibit reduced volatility and structural differentiation, with funds concentrating on high-quality assets [7]. - The investor structure is shifting towards long-term and institutional investors, enhancing overall market stability. The "national team" is increasingly engaging in systematic long-term allocations, acting as a stabilizing force for the market [7][8]. Sector-Specific Opportunities - Investment opportunities are emerging in specific sectors, with a focus on technology growth, energy transition, and consumer recovery. The market style is expected to become more balanced, with notable sector rotation and structural rebalancing [10]. - Key areas of interest include: - Chemical and non-ferrous sectors showing positive changes in fundamentals, indicating a long-term upward trend [11]. - The banking sector is viewed as systematically undervalued, with certain quality enterprises offering stable growth attributes [11]. - Non-bank financial sectors with improving ROE trends are also expected to gain market attention [12]. - The Hong Kong stock market is seen as an opportunity for valuation recovery, liquidity improvement, and profit growth, becoming an essential part of risk diversification and income generation for residents [12]. Investment Themes - The investment focus for 2026 includes emerging technology growth and traditional industries, with an emphasis on high-growth sectors, relatively undervalued assets, and areas benefiting from policy dividends [13]. - Specific directions include: - Continued emphasis on technology growth, particularly in AI applications and semiconductors [13]. - Opportunities in cyclical recovery against the backdrop of "anti-involution" and service consumption driving economic growth [13]. - The importance of companies with real competitiveness and growth potential in technology self-reliance, energy transition, and consumer recovery [13].

Core Insights - In 2026, hotel bookings in Shenzhen during the Spring Festival ranked among the top three in the country, with a year-on-year increase of 48% [1] - The Huaqiangbei commercial area emerged as the highest region for hotel bookings in Shenzhen, with a 35% increase in hotel occupancy and a 100% rise in foreign guest stays during the holiday [1][3] Group 1: Consumption Boom - The "reverse reunion" trend significantly boosted hotel occupancy rates in Huaqiangbei, with a 56% year-on-year increase in hotel stays for guests aged 60 and above, who often brought local specialties to visit their children [4] - The average hotel occupancy rate in the Huaqiangbei area reached 80% during the Spring Festival, a 28 percentage point increase compared to the previous year [4] - Huaqiangbei experienced a surge in sales of technology products, with overall sales increasing by over 30% in the two months leading up to the festival, and AI glasses sales skyrocketing by 70% to 80% [5] Group 2: Entrepreneurial Activity - Many entrepreneurs chose to stay in Shenzhen during the Spring Festival, utilizing hotels as temporary offices to maintain innovation and production schedules [6] - The proportion of AI products in Huaqiangbei increased from 12% in 2023 to 41% in 2026, reflecting the growth of the local OPC innovation ecosystem [6] - The flexible combination of accommodation and office space in hotels has injected continuous vitality into the hotel industry in Huaqiangbei [6] Group 3: Global Engagement - Huaqiangbei attracted a daily average of 750,000 visitors, including over 7,000 foreign merchants from 183 countries, thanks to policies like the 240-hour visa-free transit [7] - During the Spring Festival, Huaqiangbei's logistics capabilities were highlighted, with over 3 million packages shipped daily, 40% of which were sent globally, surpassing a total value of 100 billion yuan [8] - The area hosted cultural exchange activities that combined traditional Chinese New Year celebrations with technology consumption, enhancing the experience for foreign guests [8]

南方财经记者庞成广州报道 春节期间，越来越多的年轻人选择了一种全新的过年方式——在游戏里"赛博过年"。 当玩家沉浸在《叫我大掌柜》解锁全运数字体验，或许并未意识到，游戏已经从单纯的娱乐变成了数字化"年俗载体"。 《叫我大掌柜》是一款全球发行的古风模拟经营游戏，已圈粉海内外亿万玩家。作为扎根广州的数字文化企业，三七互娱以这 款游戏为载体，将北宋国风底蕴与广府烟火气深度交融，打造出"数字新广货"，让广府文化借数字载体走出广州、走向世界。 深入分析这家公司，不难发现，三七互娱正在从"买量战"转向"技术战"，通过前瞻布局AI技术挖出了一条很深的护城河。当一 些游戏公司仍把AI当"美工"时，三七互娱已构建起覆盖AI全产业链的战略布局，提前锁定AI原生游戏的基础设施，将战场拉到 技术的深水区，用技术专利和数据闭环构建以AI为核心竞争力的全新生态体系。 据介绍，三七互娱积极布局AI领域，一方面围绕自主研发的行业大模型"小七大模型"，构建了40余种AI能力，打造了"小七"智 能体平台；另一方面持续布局硬科技赛道，构建了"算力基础设施—大模型算法—AI应用"的完整产业链。 得益于像三七互娱一样的数字文化企业，一批"数字新广货" ...

新浪科技讯 2月20日晚间消息，马年港股开市首日，大模型公司智谱股价大幅度上涨，收报725港元/股，上涨 42.72%，市值突破3232亿港元。 值得注意的是，今年1月29日，在由新浪财经、第一财经联合主办的"为中国经济点赞——企业家之夜"活动上，智谱作 为国内AI大模型企业代表，其公司董事长刘德兵出席并 获选2025十大年度经济人物。 当晚，刘德兵发表荣誉感言时表示，让机器像人一样思考，是智谱团队创立第一天起就选择的方向，是智谱人持之以 恒的愿景目标。 "智谱的Z是字母表中的最后一个字，代表了终极境地。我们希望在AGI的探索历程上能够走到智能的终极境地，感谢 团队的专业耐心和长期主义。"他说。 彼时，智谱1月29日收盘股价为227港元/股，公司市值刚突破1000亿元不久。距离大会结束仅22日（含春节假期），智 谱股价已经上涨超498港元/股，上涨超3.19倍，公司市值也已突破3232亿港元。 这一段时间内，哪些关键节点及标志性事件使得资本市场对于智谱的信心进一步急剧提升？ 消息面上，进入2月，全球模型服务平台OpenRouter上线搜索排名第一的神秘匿名模型"Pony Alpha"，因其强大的编码 能力及针 ...

Core Insights - The article emphasizes the significant adjustments in the global political and economic landscape, highlighting the impact of tariff disputes and geopolitical risks on global economic growth prospects [1] - It notes the breakthroughs in the global technology industry, particularly in quantum computing, artificial intelligence (AI), green energy, and robotics, positioning technological innovation as a core driver of industrial upgrade and economic growth [1] - Chinese enterprises are navigating multiple challenges, focusing on governance, transformation, investment, and international expansion, contributing to stable economic growth and maintaining a high growth rate among major global economies [1] Group 1: Company Performance - In 2025, the company provided audit services to 156 A-share listed companies and 412 Hong Kong-listed companies, ranking first in comprehensive scores among Chinese CPA firms for two consecutive years [4] - The company assisted 46 enterprises in IPO listings in mainland China and Hong Kong, leading the global accounting firms in this area, including notable IPOs like Huadian New Energy and Moore Threads [4] - The company developed a series of digital audit tools, enhancing audit quality and efficiency by significantly reducing communication, time, and information acquisition costs [4] Group 2: AI Strategy - The company accelerated its "All in AI" strategy in 2025, launching the industry's first intelligent Q&A products and a new AI risk control platform, integrating AI technology deeply into various industries [6] - The company has responded to national strategic needs, providing comprehensive services for Chinese enterprises going global, serving over 3,800 clients in the past three years across 90% of Belt and Road countries [6] Group 3: Future Outlook - The company aims to continue its commitment to innovation and technology, enhancing its professional service capabilities to support the high-quality development of China's capital market and modernization efforts [8] - It plans to increase investments in information technology, integrating AI with professional knowledge and industry experience to assist Chinese enterprises in their internationalization and sustainable growth [8]