港股互联网ETF（513770）及其联接基金（017125）被动跟踪中证港股通互联网指数，重仓阿里巴巴- W、腾讯控股等互联网龙头，前10大持仓汇聚AI云计算、大模型+各领域AI应用公司，合计占比超 76%，龙头优势显著。目前，港股互联网ETF（513770）最新基金规模超148亿元，逼近150亿元大关， 再创规模新高，同时该ETF支持日内T+0交易，不受QDII额度限制，流动性佳。 港股互联网ETF（513770）基金经理曹旭辰最新表示，2025年四季度，港股是最令人失望的板块，但这 或许是2026年可能表现不错的重要原因。进入1月，港股单日成交额不到3000亿港元，而A股单日成交 额达到30000亿元，这意味着一旦A股10%资金溢出到港股，港股的活跃度会出现一倍的提升，当然前 提假设还是预期A股上半年市场会保持较好的交易环境。所以我们认为港股现在只差一个逻辑，一旦逻 辑修正就会出现整体性且快速的估值拉升。 国泰海通证券表示，2026年有望看到AI应用从可用到好用，与多元化商业模式落地，AI应用有望成为 2026年AI产业行情核心主线。看好具备流量入口优势与用户粘性，持续加码资本开支且产品成熟度高 的互联网 ...

1月15日，爱司凯盘中下跌2.02%，截至10:08，报29.54元/股，成交3126.02万元，换手率0.70%，总市值 44.23亿元。 资金流向方面，主力资金净流入32.91万元，特大单买入178.98万元，占比5.73%，卖出150.15万元，占 比4.80%；大单买入413.42万元，占比13.23%，卖出409.34万元，占比13.09%。 爱司凯所属申万行业为：机械设备-专用设备-印刷包装机械。所属概念板块包括：小盘、云计算、3D打 印、粤港澳等。 截至9月30日，爱司凯股东户数1.03万，较上期减少10.48%；人均流通股14534股，较上期增加15.73%。 2025年1月-9月，爱司凯实现营业收入1.20亿元，同比减少2.24%；归母净利润-1984.52万元，同比减少 106.60%。 分红方面，爱司凯A股上市后累计派现2672.00万元。近三年，累计派现576.00万元。 爱司凯今年以来股价涨3.65%，近5个交易日跌10.73%，近20日涨10.64%，近60日涨5.39%。 资料显示，爱司凯科技股份有限公司位于广东省广州市越秀区东风东路745号东山紫园商务大厦1505 室，成立日期 ...

盘面上看，保险、银行、地产、酿酒、券商等板块走低，传媒、半导体、石油等板块上扬，AI应 用、云计算、算力概念等活跃。 编辑：何颖曦 中国经济周刊-经济网讯 两市午后跳水，沪指转跌，深证成指、创业板指回吐早盘大部分涨幅。截 至今日收盘，上证综指报4126.09点，下跌0.31%，成交额16070.41亿元；深证成指报14248.60点，上涨 0.56%，成交额23343.48亿元；创业板指报3349.14点，上涨0.82%，成交额11515.33亿元。 ...

Core Viewpoint - The company plans to raise 1.055 billion yuan through a private placement of A-shares to fund various projects, including the industrialization of AR optical products and the enhancement of glass aspheric lens production capacity [1][4]. Group 1: Market Opportunities - The AR industry is experiencing rapid growth, leading to increased applications of optical components, particularly in high-refractive glass wafers and crystal-like wafers [3]. - The consumer electronics market, represented by smartphones and handheld imaging devices, is showing steady growth due to global economic recovery and high-end market demand [3]. - The development of intelligent driving is driving demand for components such as lidar and vehicle-mounted lenses, while advancements in AI and cloud computing are significantly increasing the demand for high-speed data transmission, thereby boosting the optical communication market [3]. Group 2: Company Strategy - The company acknowledges that its existing production capacity is insufficient to meet future business development needs, as revenues from glass aspheric lenses, certain wafers, and micro-lens arrays have been rapidly increasing [3]. - The fundraising initiative is a strategic move to align with technological trends in the optical components industry and seize downstream market opportunities [4]. - The company aims to optimize production layout, acquire advanced production and testing equipment, and deepen the integration of semiconductor processes with optical manufacturing to enhance production efficiency and product capabilities [4].

企业名称深圳中软国际智联科技服务有限公司法定代表人彭江注册资本2000万人民币国标行业信息传 输、软件和信息技术服务业>软件和信息技术服务业>软件开发地址深圳市光明区凤凰街道东坑社区创 投路160号光明科技金融大厦一单元2503企业类型有限责任公司(法人独资)营业期限2026-1-14至无固定 期限 来源：市场资讯 序号股东名称持股比例1中软国际科技服务有限公司100% 经营范围含一般经营项目是：软件开发；技术服务、技术开发、技术咨询、技术交流、技术转让、技术 推广；网络与信息安全软件开发；计算机系统服务；信息系统集成服务；信息技术咨询服务；信息咨询 服务（不含许可类信息咨询服务）；计量技术服务；网络技术服务；人工智能应用软件开发；云计算装 备技术服务；计算机软硬件及辅助设备零售；计算机软硬件及外围设备制造；网络设备制造；网络设备 销售；电子产品销售；技术进出口；数据处理和存储支持服务。（除依法须经批准的项目外，凭营业执 照依法自主开展经营活动），许可经营项目是：计算机信息系统安全专用产品销售；互联网信息服务； 在线数据处理与交易处理业务（经营类电子商务）。（依法须经批准的项目，经相关部门批准后方可开 展经营 ...

Core Viewpoint - Blackstone Group's real estate income trust, BREIT, is projected to exceed $53 billion in assets under management by the end of 2025, marking an approximately 8% increase from the beginning of the year and setting a new historical high [1] Group 1: Financial Performance - The primary contributor to the 2025 return is the acquisition of data center operator QTS, completed in 2021, which has seen rental income and valuation rise due to increased demand in cloud computing [1]

Core Insights - The express delivery industry in China has surpassed 200 billion packages, supporting over 14 trillion yuan in online retail sales for physical goods [1][6] - By 2025, the industry is projected to achieve a revenue of 1.8 trillion yuan and a delivery volume of 216.5 billion packages, reflecting year-on-year growth of 6.4% and 11.5% respectively [2] Industry Development - The express delivery network in China has become more comprehensive, with major hubs established in regions such as the Yangtze River Delta, Guangdong-Hong Kong-Macau Greater Bay Area, and Chengdu-Chongqing area [3] - The coverage of rural express services continues to improve, with a total of 13,000 intermodal postal routes opened and 145,000 cooperative stations built nationwide [4] International Expansion - The international logistics system is also being rapidly developed, with 374 overseas warehouses established, an increase of 41 from 2024, covering an additional area of 1.22 million square meters [5] - By 2025, the volume of packages for international and Hong Kong-Macau-Taiwan regions is expected to reach 4.2 billion, with an average annual growth rate exceeding 18% [5] Technological Integration - The express delivery industry is adapting to new consumption models such as live-streaming sales and social e-commerce, while also supporting initiatives for exchanging old consumer goods for new ones [6] - The industry is deeply integrated into the entire manufacturing process, serving advanced sectors like healthcare and new energy vehicles, with the application of technologies such as unmanned warehouses, drones, and autonomous vehicles [7] Growth Metrics - Since the 14th Five-Year Plan, the express delivery industry has built the largest and most widely beneficial delivery network in the world, with annual revenue growth averaging 10% and per capita annual express usage doubling [9] - The annual business revenue has increased from 1.1 trillion yuan to 1.8 trillion yuan, with the volume of express deliveries rising from over 80 billion to nearly 200 billion packages [9] - The intelligent level of the express delivery industry has improved, with major sorting centers achieving automated operations and advanced technologies being applied in various scenarios [9]

热点聚焦 1、2026年1月14日，经中国证监会批准，沪深北交易所发布通知调整融资保证金比例，将投资者融资买入证券时的融资保证金最低比例从80%提高至 100%。 2、财政部13日下午会同有关部门，在北京以线上线下相结合的方式召开财政金融协同促内需一揽子政策全国推进工作视频会议。会议深入贯彻中央经济工 作会议精神，落实国务院常务会议部署，布置推进财政金融协同促内需一揽子政策工作，要求各级财政部门要会同相关部门和经办机构完整准确把握财政金 融协同促内需一揽子政策要求，简化流程环节，强化执行跟踪，切实推动政策落地见效。 大型科技股普跌，英伟达跌1.44%，特斯拉跌1.79%，微软跌2.4%，亚马逊跌2.45%，Meta跌2.47%。 热门中概股也多数下跌，纳斯达克中国金龙指数跌0.23%，携程跌超17%，拼多多跌近4%，哔哩哔哩涨超6%。 3、央行发布公告，为保持银行体系流动性充裕，2026年1月15日，中国人民银行将以固定数量、利率招标、多重价位中标方式开展9000亿元买断式逆回购操 作，期限为6个月（181天）。 4、保险资金长期投资改革试点再迎增量资金。中基协信息显示，鸿鹄基金三期3号于近期成立并完成备案， ...

Group 1 - Microsoft is expected to benefit from a recovery in IT spending this year, despite recent stock price underperformance [1] - KeyBanc Capital Markets' latest channel survey indicates that customer IT budgets are accelerating, with a projected growth of 5.3% in 2026, up from 4.6% in 2025 [1] - Cloud computing and AI-related spending are expected to be the main drivers of growth, with particular focus on Microsoft's Azure cloud services and Copilot AI products [1] Group 2 - KeyBanc analyst Eric Heath noted that 30% of respondents expect an increase in public cloud spending growth, a 17 percentage point rise from the previous quarter, which will benefit Azure beyond GPU levels [1] - Multiple Copilot products are gaining attention, with more customers entering pilot or formal deployment stages [1] - Goldman Sachs recently raised Microsoft's target price to $655, citing diversification of AI investments and reduced reliance on OpenAI [2] Group 3 - Market sentiment remains cautious, with Microsoft's stock dropping 2.4% to $459.53, the lowest level since late May last year [2] - There is ongoing concern regarding the pace of AI tool deployment, as reports indicated a relaxation of sales quotas for enterprise AI products, although Microsoft clarified that overall sales quotas had not been reduced [2] - Heath emphasized that while customer attitudes towards generative AI are steadily progressing, the proportion of those moving to production-level deployment remains in the low to mid-single digits [2]

Core Viewpoint - The company, Zhejiang Jiemai Electronic Technology Co., Ltd., is a leading enterprise in electronic packaging materials and has maintained a high market share and profitability through a vertical and horizontal integration strategy, achieving a revenue of 1.53 billion yuan in the first three quarters of 2025, a year-on-year increase of 13.7% [1]. Group 1: Business Overview - The company was established in April 2001 and specializes in the research, production, and sales of electronic packaging materials and electronic-grade film materials, including paper carrier tape, electronic adhesive tape, plastic carrier tape, release film, cast film, and IC trays [1]. - The company has maintained a gross margin of over 30% and has built a strong customer base due to the high recognition of its products [1]. Group 2: Market Demand - The global digitalization process has accelerated, driven by policies such as "new infrastructure" and "old-for-new" electronic product exchanges, leading to increased demand in markets like 5G networks, cloud computing, data centers, and electric vehicles [2]. - For instance, the demand for MLCC in AI servers is expected to be eight times that of traditional servers, with an annual growth rate exceeding 30% in the AI sector by 2030 [2]. Group 3: Production Capacity and Optimization - The company is expanding its production capacity both domestically and internationally to meet the surging demand for carrier tape driven by downstream electronic components [3]. - New production bases are being established and existing ones are being upgraded, including a new factory in Malaysia and a technology upgrade project in Jiangxi, which is expected to enter trial production by the end of 2025 [3]. Group 4: Strategic Acquisitions - The acquisition of Ruzhen Technology at the end of 2024 is expected to enhance the company's R&D and manufacturing capabilities in new energy materials, creating synergies and expanding market reach [4]. - Ruzhen Technology has already established deep collaborations with leading battery companies and has become a key supplier of composite aluminum foil for lithium batteries, receiving bulk orders from major clients [4]. Group 5: Financial Projections - The company is projected to achieve net profits of 207 million yuan, 359 million yuan, and 521 million yuan for the years 2025 to 2027, with corresponding price-to-earnings ratios of 61.53, 35.56, and 24.47 times [4].