Core Viewpoint - The Hong Kong stock market has not managed to reverse its downward trend as it approaches the end of 2025, with major indices opening lower and the Hong Kong Internet ETF (513770) experiencing a decline of 0.95% [1][10]. Group 1: Market Performance - The Hong Kong Internet ETF (513770) has seen a cumulative decline of 18.55% since October, with the latest price-to-earnings ratio (PE TTM) at 24.56, significantly lower than the 25.87% percentile over the past five years [3][10]. - The valuation of the Hong Kong Internet sector is notably lower than that of the A-share and US tech indices, highlighting a price-performance advantage [3][10]. - Recent data indicates that the Hong Kong Internet ETF has attracted a net inflow of 83.5 million yuan over the past two days, suggesting a shift towards left-side positioning by investors [11]. Group 2: Future Outlook - Looking ahead to 2026, there is an expectation for the Hong Kong stock market to experience a gradual upward trend, supported by a loose monetary policy environment and continued net inflows from foreign and southbound capital [5][12]. - The focus on technological innovation and supply-side reforms is anticipated to enhance the profitability of listed companies in Hong Kong, leading to a scenario of rising earnings and valuations [5][13]. - AI remains a key catalyst for valuation increases in the Hong Kong Internet sector, with emphasis on model iteration, application implementation, and performance realization [6][13]. Group 3: Investment Strategies - The Hong Kong Internet ETF (513770) and its associated funds are designed to passively track the CSI Hong Kong Internet Index, with significant holdings in major players like Alibaba, Tencent, and Xiaomi, which collectively account for over 73% of the top ten holdings [6][13]. - For investors seeking to mitigate volatility while still capitalizing on technology, the Hong Kong Large Cap 30 ETF (520560) is recommended, combining high-growth tech stocks with stable dividend-paying companies [6][13].

转自：扬子晚报 12月30日晚，罗永浩2025年度科技创新分享大会在上海举行。根据预告，大会将于19时进行，不过，罗 永浩本人并未准时现身，而是迟到了44分钟后才出现在讲台。此前的发布会，罗永浩也曾多次迟到。有 网友调侃道："重新定义了19时。" 直播截图 还未走上讲台的罗永浩在幕后表示："这么多年了，其实我本来宁可切断一只手，也不愿发生这样的 事，但它还是发生了，向大家道歉。后续会发文解释一下，希望大家理解。" 记者注意到，截至30日晚7时50分，罗永浩本人账号的直播间在抖音平台已有超50万人观看，微博平台 突破200万人观看。 罗永浩个人微博截图 网友表示，没有时间观念差评。 据此前报道，12月1日，罗永浩在个人微博发布科技春晚预告："本次科技创新分享大会上要介绍的科技 产品，全部由我和我们的产品团队主动选品，我会精心编排所有的演讲内容，并亲自在发布会上进行讲 解。" 据了解，罗永浩此前的新品发布会被网友称为"科技春晚"，但2018年锤子手机业务失败后，罗永浩 的"科技春晚"一直未举办。 罗永浩表示："这是我阔别科技发布会舞台七年后的第一次，所以除了介绍大概十几个中国科技创新产 品，差不多软件和硬件各一半 ...

Group 1 - The city is focused on promoting stable and healthy economic development while implementing major national strategic tasks and modernizing urban governance [1][3] - The city aims to enhance technological innovation capabilities and optimize the industrial structure, with a focus on digital and green transformation of traditional industries [1][2] - The city plans to deepen high-level reform and opening up, leveraging key areas as experimental zones for reform to enhance overall effectiveness [2] Group 2 - The city is committed to achieving the main goals of the 14th Five-Year Plan and responding to public expectations for a better life through practical actions [3] - The city will continue to focus on the development goals for the 15th Five-Year Plan, enhancing the role of the Political Consultative Conference in providing advice and building consensus [3][4] - The meeting reviewed the work of the Political Consultative Conference and approved various reports and regulations to improve its functioning [4]

凤凰网财经讯 12月31日，三大股指集体高开，沪指涨0.09%，深成指涨0.17%，创业板指涨0.15%。先进 封装、存储器、消费电子、光伏题材走强，稳定币、商业航天、能源金属概念股走弱。北交所新股N蘅 东光上市涨逾1000%。 | | | | | 沪深京重要指数 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 * * ● | 咸新 | 张幅% | | 涨跌 涨跌家数 | | 用 | 现手 金额 | | 上证指数 | 3968.73 | 0.09 | 3.62 | 1047/784 | 0.03 | 350万 | 350万 62.61 7. | | 深证成指 | 13627.26 | 0.17 | 23.19 | 1542/867 | -0.01 | 808万 | 808万 119.18亿 | | 北证50 | 1449.56 | -0.07 | -1.08 | 149/87 | -0.15 | 17.5万 | 7.70 Z 17.5万 | | 创业板指 | 3247.74 | 0.15 | 4.84 | 760/445 | 0.0 ...

Group 1 - The core viewpoint of the articles highlights the significant advancements and initiatives in the agricultural sector of Henan Province, particularly in the areas of edible fungi and agricultural exports [1][2][3][4] Group 2 - Century Xiang Edible Fungus Development Co., Ltd. in Xuchang, Henan, emphasizes research and innovation, investing over 5% of its annual output value in R&D and collaborating with over 50 universities and research institutions [1] - The company has developed leading global technology in liquid mushroom cultivation and has established "smart mushroom houses" that have doubled production capacity, exporting approximately 1 ton of fresh mushrooms daily [1] - The "Yunong Youpin" brand integrates high-quality agricultural products from Henan, with 377 enterprises and 717 products included, aiming to promote local specialties globally [2] - Henan's agricultural product trade reached 21.9 billion yuan from January to August 2025, with exports of 11.2 billion yuan, marking a 26.4% increase [3] - The province has established several specialized agricultural export bases, including edible fungi, garlic, and meat products, contributing significantly to export growth [3] - A total of 21 major projects were signed between Henan and ASEAN, focusing on food production, agricultural technology, and trade, enhancing agricultural efficiency through digital and technological integration [4] - Recommendations include optimizing market strategies to strengthen exports to ASEAN while expanding into Belt and Road Initiative countries and RCEP member states [4]

在新消费现代化浪潮中，东阿阿胶（000423.SH）正以科技创新为突破口，重塑阿胶产业的竞争力边 界。2025年，这家百年药企通过系统性强化研发体系，在理论创新、平台建设、机制改革等领域取得突 破性进展，不仅主导修订《中国药典》阿胶饮片标准，更在国际权威期刊发表道地阿胶补血活性肽等原 创成果，为产品升级与市场拓展注入强劲动能。 从气血理论的科学阐释到复方阿胶浆循证医学研究的国际认可，从双院士工作站的突破到15款健康消费 品的上市，东阿阿胶正以"科技+品牌"双轮驱动，推动传统滋补产业向智慧化、国际化迈进，为投资者 与行业呈现一份高质量发展的"东阿样本"。 东阿阿胶的这场战略变革始于三年多前，当时，公司积极响应"健康中国"战略，在华润集团"1246"模式 指引下，提出并落地"1238"战略，实施了一系列大刀阔斧的重塑革新，确定了药品与健康消费品"双轮 驱动"的业务增长模式。 在平台建设上，东阿阿胶以"一中心 三高地+N联合"模式打造产业创新引擎。该体系得到了进一步深 化："一中心"即国家胶类中药工程技术研究中心作为核心平台，年内取得多项标志性成果：率先发现道 地阿胶补血活性肽并建立专属检测方法，相关论文登上《Co ...

Core Viewpoint - The event "The Crossroads of Luo Yonghao," known as the "Tech Spring Festival," faced delays and issues, leading to Luo Yonghao apologizing multiple times and offering full refunds for ticket purchases, ultimately making the event free for attendees [1][4][12]. Group 1: Event Details - The event took place on December 30 in Shanghai, marking Luo Yonghao's return to the tech stage after seven years, with tickets selling out within two hours of release [4][12]. - Approximately 5,000 attendees filled the venue, but the event started over 40 minutes late due to unforeseen circumstances [1][4]. - Luo Yonghao announced a refund of over 1.66 million yuan from ticket sales and pledged to donate the same amount to a charity fund in Hong Kong [4][12]. Group 2: Personal Challenges - Luo Yonghao revealed he has been suffering from ADHD for many years, which has affected his ability to manage events effectively [6][7]. - He mentioned that his current medication is not as effective, and he has faced challenges with physical stamina during the event [7][9]. Group 3: Product Showcase - The event focused on showcasing innovative products, with over ten domestic tech products presented, emphasizing the need for platforms to highlight truly innovative offerings [12][14]. - Featured products included DJI's Neo2, ergonomic chairs, exoskeleton robots, and AI assistants, showcasing advancements in various tech fields [12][14]. Group 4: Future Aspirations - Luo Yonghao expressed his commitment to continue supporting innovative products and aims to enhance the visibility of Chinese technology on a global scale [12][14]. - He introduced an AI book analysis app called "Qie Ting," designed to provide deep insights into literature using advanced technology [15].

Core Viewpoint - The articles collectively emphasize the importance of high-quality development in Shaanxi province, focusing on technological innovation, industrial transformation, and financial services as key drivers for economic growth and modernization. Group 1: Economic Development Strategy - The provincial economic work conference outlines a blueprint for economic and social development in Shaanxi by 2026, emphasizing the integration of technological and industrial innovation with financial services [1] - The "14th Five-Year Plan" is highlighted as a critical period for achieving substantial progress in various sectors, including solar energy, new displays, commercial aerospace, and biomedicine [1][2] Group 2: Innovation and Talent Development - The integration of education, technology, and talent development is crucial for strengthening high-quality technological supply, with initiatives aimed at creating innovation hubs and enhancing research capabilities [3] - The focus is on collaborative innovation between universities, research institutions, and enterprises to produce original research outcomes and foster a robust talent development ecosystem [3] Group 3: Reform and Financial Support - The synergy between "three reforms" and technological financial reforms is essential for overcoming systemic barriers and energizing innovation, thereby supporting industrial upgrades and high-quality development [4] - Establishing a comprehensive service network for the transformation of technological achievements is prioritized, along with enhancing the effectiveness of technology transfer from universities and state-owned enterprises [4] Group 4: Industrial Optimization and Future Industries - The strategy includes optimizing and upgrading the industrial system to solidify the foundation of the real economy, with a focus on developing trillion-level industrial clusters in modern energy, advanced manufacturing, and strategic emerging industries [5] - Emphasis is placed on seizing opportunities in artificial intelligence and other future industries to drive digital transformation and high-end development in traditional sectors [5]

Core Viewpoints - The A-share market showed mixed performance with the Shanghai Composite Index closing flat, while the Shenzhen Component Index rose by 0.49% and the ChiNext Index increased by 0.63%. The total trading volume in the Shanghai and Shenzhen markets reached 21,424.47 billion yuan. The leading sectors included oil and petrochemicals, automobiles, and non-ferrous metals, while retail, real estate, and public utilities lagged behind [2][8] - The Hong Kong market saw the Hang Seng Index rise by 0.86% and the Hang Seng Tech Index increase by 1.74%. In contrast, major U.S. indices experienced declines, with the Dow Jones down by 0.2%, S&P 500 down by 0.14%, and Nasdaq down by 0.24% [2][8] Important News - The "Two New" policy for 2026 was released by the National Development and Reform Commission and the Ministry of Finance, outlining support for large-scale equipment updates and consumer goods replacement. A total of 625 billion yuan in special bonds will be allocated for this initiative, with a subsidy rate of 15% for certain household appliances and a maximum subsidy of 1,500 yuan per item [3][9] - Changes to the value-added tax policy for personal housing sales were announced, effective January 1, 2026. Homes sold within two years will incur a 3% VAT, while those sold after two years will be exempt from VAT [3][9] Market Analysis - The A-share market saw active trading in the sci-tech sector, with significant interest in commercial aerospace, terahertz technology, and controllable nuclear fusion. The market liquidity decreased in December, influenced by year-end fund recovery and reduced risk appetite among investors. However, a recovery in investor confidence was noted in the latter half of December due to positive signals from national economic meetings [10][11] - The overall economic environment remains stable, with improvements in fixed asset investment growth and a rebound in import and export growth rates. The CPI has shown an expanding year-on-year increase, while the decline in PPI has narrowed. The macroeconomic policies are expected to continue supporting economic stabilization and growth [12]

Group 1 - The meeting held in Suzhou on December 30 focused on the cooperation between Suzhou and Suqian, highlighting the importance of regional collaboration for high-quality development and modernization in Jiangsu province [2][3]. - Suzhou expressed gratitude for Suqian's support and emphasized the need to deepen cooperation in areas such as park construction, technological innovation, and education sharing [2][3]. - Suqian's leadership acknowledged the positive impact of the cooperation, noting that it has led to a complementary and mutually beneficial relationship, enhancing economic and social development [3]. Group 2 - A comprehensive framework agreement for strengthening cooperation between Suzhou and Suqian was signed, covering the period from 2026 to 2030 [5]. - Suzhou University signed cooperation agreements with both Suqian city and the Suzhou-Suqian Industrial Park, indicating a commitment to collaborative projects [5]. - During the visit, the Suqian delegation explored various facilities in Suzhou, including the Suzhou Industrial Park Exhibition Center and the Artificial Intelligence Experience Hall, showcasing the region's advancements [6].