12月11日午后，市场盘整，A股主要指数悉数飘绿，百分百布局新质生产力的硬科技宽基——双创龙头ETF （588330）随市回调，场内价格现跌0.84%，当前位于所有均线上方，技术面上行动能较强。 值得关注的是，双创龙头ETF（588330）日线5连涨后首跌，或为资金逢跌布局机会，事实上，该ETF昨天单日 吸金1682万元，或有看好科技后市表现的资金进场布局。 细分方向来看，消费电子龙头蓝思科技领涨超7%，锂电池龙头宁德时代涨逾2%，半导体龙头龙芯中科、江波 龙、拓荆科技、盛美上海跟涨，光模块龙头新易盛涨超1%，PCB（印制电路板）龙头胜宏科技逆市飘红。 图：双创龙头ETF标的指数涨幅前10大成份股 | | 序号 名称 | 两日图 | 涨跌幅 * 申万一级行业 | | 甲力二级行业 | 甲万三级行业 | 总市值 | 成交额 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 蓝思科技 | 15- - | 7.54% | 电子 | 消费电子 | # 消费电子零部件及组装 | 1621亿 | 69.421Z | | 2 | 宁德时代 | v ...

Group 1 - The core viewpoint emphasizes the transition of China's capital market towards high-quality development, requiring securities firms to enhance their financial service ecosystem while fulfilling their role as market gatekeepers [1] - The financing and securities lending business has reached a historical high of 2.5 trillion yuan, indicating significant growth and the urgent need for transformation in service quality [3] - The challenges faced by the financing and securities lending business include homogenized competition and price wars, necessitating a shift from price competition to value creation and differentiated services [3][4] Group 2 - The need for real-time monitoring and transparency in credit business metrics, such as client concentration and maintenance guarantee ratios, is highlighted, along with the importance of integrating various data dimensions for comprehensive client service [3][4] - The article discusses the increasing difficulty in assessing collateral securities due to market changes and the need for improved evaluation models to enhance risk measurement and capital allocation efficiency [4][11] - The complexity of market structures necessitates enhanced penetration checks to identify hidden risks, with a focus on utilizing intelligent methods to ensure market fairness and protect investors [4][12] Group 3 - The proposed solutions include leveraging financial technology to build intelligent credit risk management systems, enhancing service capabilities, and creating a more efficient financial service ecosystem [6][10] - A customer-centric service ecosystem is recommended, transitioning from mere transaction channels to comprehensive wealth management platforms, utilizing data-driven approaches for personalized client experiences [8][9] - The establishment of a dynamic risk management mechanism is essential, focusing on proactive risk alerts and rapid response systems to improve investor protection and service quality [10][11] Group 4 - The future outlook suggests that state-owned securities firms should deepen their exploration of information technology to enhance the integration of computing power and finance, thereby supporting the development of a more precise risk pricing system and resource allocation mechanism [14]

转自：新华财经 12月6日，由东方财富信息股份有限公司主办的"科创引领新经济 数智驱动新发展"——中国资产管理论坛暨2025东方财富风云际会在贵阳举行。来自200多 家金融机构的700多位嘉宾齐聚一堂，共商金融科技如何助力新兴产业，共寻行业发展新引擎，共建高质量资管生态。贵州省贵阳市市委副书记、市长王 宏，东方财富董事长其实致辞，贵州省投资促进局局长谢强作产业推介。 东方财富董事长其实表示，当前，资管行业正面临科技与金融深度融合的历史性机遇。随着国家人工智能+战略的深入推进，数智化已成为推动行业转型升 级的核心动力。东方财富将持续深化AI+金融战略布局，与行业同仁携手，共同构建更具韧性的行业发展新生态，为推动资管行业高质量发展贡献力量。 论坛上，东方财富证券研究所副所长、首席策略官陈果发表主题演讲《智能浪涌，逐牛攀高——2026年中国股市策略展望》。他指出，2026年A股有望延续 牛市，建议布局泛AI、周期反转与国际化三条主线，覆盖AI应用、半导体、新能源、有色、化工、工程机械等行业，警惕AI商业化进程带来的波动风险。 上海天天基金销售有限公司总经理潘世友发表演讲《用户为本、科技为径：财富管理的数智化探索》。 ...

特高压概念11日盘中强势拉升，截至发稿，通光线缆20%涨停，汉缆股份、中超控股、华菱线缆均涨 停，红相股份涨超9%。 该机构认为，2026年作为"十五五"规划的开局之年，电力设备行业将迎来内需预期定调与外需景气释放 的双重机遇，行业整体有望呈现"内需稳增筑底、外需突破放量"的格局，内需的预期交易与外需的成长 交易可双向并行，行业具备显著的配置价值。 中信证券指出，"十五五"时期电网投资预计将维持稳定增长态势，结合用电量增长预期与"十四五"时期 电源建设强度判断，预计2026年—2030年国家能源局口径下的电网基本建设投资完成额将达到约3.8万 亿元，对应年均投资额约7500亿元。核心驱动因素来自用电量的持续增长，预计"十五五"时期用电量年 均增速为5%—6%，增速相较GDP增速弹性维持在1.2—1.25区间。市场对内需的交易呈现明显的预期前 置特征，特高压、数智化等在2025年面临较大压力后已出现触底反转预期，主网架与互联互济等环节保 持向好态势，上述板块将在新的五年规划的窗口期下具备布局价值。 ...

Core Insights - The report indicates that the Chinese economy is expected to grow by 5.0% in 2025 and 4.5% in 2026 according to the IMF, reflecting a moderate recovery phase [5][8] - The A-share market is experiencing a phase of consolidation with potential upward movement supported by favorable policies and improved liquidity [9][12] - The semiconductor industry is in an upward cycle, driven by strong demand for AI computing hardware and significant capital investments from major tech companies [19][30] Domestic Market Performance - The Shanghai Composite Index closed at 3,900.50 with a slight decline of 0.23%, while the Shenzhen Component Index rose by 0.29% to 13,316.42 [4] - The average P/E ratios for the Shanghai Composite and ChiNext are 16.04 and 49.54 respectively, indicating a suitable environment for medium to long-term investments [12] Industry Analysis - The food and beverage sector saw a rebound in November 2025, particularly in pre-packaged foods and alcoholic beverages, although overall performance remains weak with a cumulative decline of 0.16% from January to November [14][15] - The semiconductor industry experienced a 5.10% decline in November, but year-to-date performance remains strong with a 38.02% increase [19] - The electric power and utilities sector showed resilience, with a 10.4% year-on-year increase in electricity consumption in October 2025, driven by the charging and swapping service industry [23][24] Investment Strategies - The report suggests focusing on sectors such as commercial retail, precious metals, and automotive for short-term investment opportunities [12][18] - In the semiconductor space, companies involved in AI chip production and infrastructure are recommended due to the ongoing demand and technological advancements [19][30] - The food and beverage sector is advised to consider investments in soft drinks, health products, and baked goods, with specific companies highlighted for potential growth [35][36]

Core Insights - The core theme of the conference is "Emergence·Infinity - Co-creating a New Form of Intelligent Business" [1][7] - The speaker, Hou Xiaohai, emphasizes the challenges and opportunities in the current business landscape, particularly in the beer industry [3][5] Group 1: Challenges - The first challenge identified is differentiation, which is seen as the biggest challenge in the new era, affecting demand, products, and consumer experiences [3][9] - The second challenge is the restructuring of the commercial foundation, where traditional distribution channels are being disrupted by instant retail, changing the entire industry chain [3][9] - The third challenge is internal competition (involution), which arises from supply-demand imbalances and has led to significant capacity reductions in the beer industry, with companies like China Resources Beer closing 40 factories and reducing over 5 million tons of capacity [4][10] Group 2: Opportunities - Opportunities arise from product iteration, driven by technology and quality improvements, which can lead to significant market advantages [5][10] - The development of digital intelligence (digitalization) is expected to play a crucial role in the recovery and growth of Chinese consumer goods companies over the next five years [5][10] - A focus on personalized strategies is necessary to meet the evolving consumer demands in the differentiation era [5][10] Group 3: New Management Concepts - The concept of co-integration and co-existence within the industry chain and value chain is emphasized, advocating for collaboration rather than competition among companies [6][11] - The "three precision management" approach—lean, streamlined, and detailed management—is recommended for companies to navigate tighter economic conditions [6][11] Group 4: Green Development - Green development should be viewed as a driving force and competitive advantage rather than a mere obligation, influencing industry structure and brand value [6][12]

MMU校长拿督Mazliham、马来西亚公共事务部代表Yusri Bin Razalli出席结业典礼并发言，对中兴通讯长期以来在智慧政府和组织人才建设中的贡献表示感 谢，对中兴通讯AiCube平台助力MMU大学数智化教学升级、强化人才培养的重要意义表示肯定，并期待未来与中兴通讯开展更深层次的合作。 中兴通讯努力践行《中华人民共和国和马来西亚关于构建高水平战略性中马命运共同体的联合声明》最新文件精神，积极探讨与马来在科技创新、人才培养 等领域的交流合作。 近日，马来西亚政府"Shaping the future-fit public services with Cybersecurity in AI Landscape"暨"马来西亚政府官员来华培训项目二期"结业典礼在马来西亚多 媒体大学（MMU）隆重举行。中兴通讯高级副总裁顾军营专程出席典礼并致辞。 顾军营称，2025年是中马关系新"黄金50年"的启程之年，中兴通讯将继续支持马来西亚数智人才培养与智慧政府建设，并强调将以AI战略合作协议为新起 点，携手政产学研伙伴构建创新生态，为马来西亚及相关地区发展注入持久动能。期间，中兴通讯与MMU签署《AI合作伙伴协议》 ...

在这场年终大考中，"数智化"作为重要抓手，能全面提升运营效率。客如云作为深耕餐饮SaaS领域十三 年的服务商，能为不同业态商家提供数智化整体解决方案。 12月，餐饮行业正式进入"黄金冲刺期"。随着圣诞节，元旦节双节临近，年末聚会与庆典活动显著增 多，消费热情集中释放，市场迎来了客流高峰。但是机遇与挑战并存：头部品牌正强势扩张，而中小企 业面临成本上升与竞争加剧的双重压力。 硬核支撑：POS 高性能终端，稳如磐石 面对节假日高峰期人潮涌动、网络环境复杂等挑战，客如云POS 5D系列智能收银一体机拥有高性能多 核处理器，4+32G超大存储空间，搭配Wi-Fi 6双频，显著提升点单效率，确保系统稳定运行。即使在断 网、高并发等极端场景下，也能快速响应、无缝接单，防止因技术故障错失每一笔生意。 软件赋能：四大核心能力，驱动高效增长 1.AI五大智能体，以技术精准运营效率 从洞察经营趋势的"老板助手"，到默默守护系统稳定的"超级IT"，从精准触达用户的"营销助手"，到高 效协同前厅后厨的"超级店员"，再到集多功能于一身的全能管家——"智能小On"，客如云AI五大智能 体，多维度保障运营稳定，解放双手，用AI赋能经营高速 ...

12月6日下午，由 东方财富 信息股份有限公司主办的"科创引领新经济 数智驱动新发展"——中国资产管理 论坛暨2025东方财富风云际会在贵阳举行。200多家金融机构的700多位嘉宾齐聚一堂，深入探讨习近平 总书记关于金融工作的重要论述，共商金融科技如何助力新兴产业，共寻行业发展新引擎，共建高质量资 管生态。贵阳市市委副书记、市长王宏，东方财富董事长其实致辞，省投资促进局局长谢强作产业推介。 （图为演讲嘉宾：上海天天基金销售有限公司总经理潘世友） 东方财富董事长其实表示，当前，资管行业正面临科技与金融深度融合的历史性机遇。随着国家 人工智 能 +战略的深入推进，数智化已成为推动行业转型升级的核心动力。东方财富将持续深化AI+金融战略布 局，与行业同仁携手，共同构建更具韧性的行业发展新生态，为推动资管行业高质量发展贡献力量。 嘉宾热议数智化财富管理 论坛上，东方财富 证券 研究所副所长、首席策略官陈果发表了以《智能浪涌，逐牛攀高——2026年中国 股市策略展望》为主题的演讲，陈果指出2026年A股有望延续牛市，重点关注三大预期差：企业盈利超预 期、中国AI进展超预期及中美务实合作深化。建议布局泛AI、周期反转与国 ...

中新社北京12月9日电 (记者 赵建华)"1+10"对话会9日在北京举行。中国财政部副部长廖岷就"1+10"对 话会有关情况答记者问时表示，与会国际经济组织负责人高度重视中国"十五五"规划，普遍认为"十五 五"规划不仅将夯实中国长期发展的根基，也将为世界经济的稳定与增长注入更强的确定性。 ——深化高水平对外开放，融入全球格局。与会代表欢迎中国扩大自主开放，对接国际高标准经贸规 则，期待中方继续缩减外资准入负面清单，完善跨境服务贸易负面清单管理制度，打造市场化、法治 化、国际化营商环境。 廖岷表示，中国成功实施了14个五年规划，始终坚持一张蓝图绘到底，一茬接着一茬干，集中精力办好 自己的事，并为世界经济持续注入强劲动力。面对当前复杂严峻的国际形势，中共二十届四中全会系统 谋划布局"十五五"时期中国经济社会发展，向世界展现了中国未来五年的发展蓝图，释放出中国愿继续 与世界各国共享机遇、共同发展的强烈信号，为变乱交织的世界注入更多确定性和正能量，为推动构建 人类命运共同体作出重要贡献。(完) ——塑造发展新动能，拓展共赢空间。与会代表表示，在数智化驱动全球变革当下，中国重点布局科技 创新和产业升级，加速新旧动能转换 ...