1月4日，2025年杭州西湖区科技创新大会在该区文体中心举行，康迪科技集团研究院院长郭中元受邀出席会议并参加优质科创项目集中签约仪式。据了 解，作为该区"新年第一会"，会议聚焦科技创新与先进制造深度融合，明确将人工智能与先进制造等领域作为年度重点布局方向。会议释放的政策导向与 产业场景，也与康迪科技集团研发总部项目高度契合。路遥 ...

相#这次中国-韩国商务论坛，韩国总统到场出席，200余人的企业代表团集中亮相，四大财团掌门人同 框出现，这类组合通常对应的不是一般性的寒暄与握手，更是把后续合作的优先级、规模和落地节奏一 次性"定标"。对外界而言，这意味着中韩经贸议题正在从"维持关系"转向"做出增量"，并且进入到需要 最高层拍板、头部企业压上资源的阶段。四大财团掌门人集体出现，背后往往指向更偏产业级、链条级 的合作方向，尤其是先进制造、供应链协同、数字经济与AI应用这类需要长期投入、跨部门协同的议 题。对韩国企业来说，这是在全球产业链重构与外部不确定性上升的背景下，重新强化与中国这个关键 市场、关键制造网络的连接；对中国企业来说，意味着可以在更高层级、更大体量的合作框架下推动项 目对接，从"单点交易"走向"体系协作"，把合作从订单扩展到标准、技术、生态与共同出海等更高维 度。"周五下班去上海"，将把经贸合作的底座延伸到高频、可持续的民间往来与消费场景。短途跨境出 行如果形成常态，会带动航班酒店、商圈会展、零售消费、线上娱乐等链条同步回暖，也能在情绪与预 期层面修复信心。宏观层面的产业合作与微观层面的人员流动一旦形成共振，中韩关系更容易出现可 ...

2025年，稳股市首次被写入《政府工作报告》总体要求，资本市场被提升至新的战略高度。资本市场长 期稳定繁荣能增加居民财产性收入，专题首篇聚焦广东资本市场，透过八个关键热词，回望2025年广东 辖区资本市场的奋进之路，感受南粤大地上科技、产业与资本、财富同频共振的强劲脉搏。 翻倍股 2025年A股市场迈入百万亿市值时代，结构性行情纵深演进，翻倍股群体持续扩容，成为市场活力的重 要注脚。Wind数据显示，全年5400余只A股中，股价实现翻倍的公司共计540家，其中广东辖区贡献53 家，占全国总量的近一成。 2025年，中国资本市场迎来历史性跨越，A股总市值首次突破百万亿元大关，开启高质量发展新征程。 作为改革开放的前沿阵地与资本市场核心重镇，广东辖区（不含深圳，下同）凭借深厚的产业基础与持 续的改革活力，2025年在投资者回报、科技创新、财富管理新模式、投资者保护等多个维度亮点纷呈， 共同勾勒出广东辖区资本市场的年度脉络。 岁末年初，南都湾财社推出"2025广东金融年度关键词"专题报道，以关键词为索引，回望资本市场、银 行、保险、理财、消费金融等领域的变革脉络与发展亮点，记录广东金融业的坚实足迹与时代担当。 翻倍 ...

漫画 王建明 2026年，A股市场有望从估值驱动转向盈利驱动，呈现"慢牛"特征。 建议投资者关注以下四大方向：一是科技创新，重点关注算力/应用/机器人/智驾等AI产业链，以及创新药 等；二是先进制造，关注我国具有竞争力且景气有望向上的新能源、国防军工等；三是上游周期,有望受益 于"反内卷"且具有涨价预期的有色、化工、钢铁、煤炭、建材等；四是内需消费，重点关注受益于扩内需+消 费结构转型的新消费，如IP、宠物等。 2026年科技投资难度将大于2025年,投资者未来想获取超额收益，将更依赖于对产业节奏的精准把握和个股的 深度甄别。 深圳商报记者 詹钰叶 2025年A股市场大涨，站在2026年的起点，市场是否延续反弹？哪些板块值得关注？多家机构认为，在"更加 积极有为"的宏观政策支持下，中国经济将实现韧性增长与结构升级的双向奔赴，内需复苏与外需韧性形成合 力支撑。A股市场有望从估值驱动转向盈利驱动，呈现"慢牛"特征，科技创新、消费升级等成为全市场共识 性投资主线。 中泰证券 科技领航，促消费与扩投资协同推进 宏观层面看，中泰国际首席经济学家李迅雷认为，2026年作为"十五五"规划开局之年，GDP增速目标预计定 在5 ...

来源：晋才晋商 山西美锦能源股份有限公司（000723）发布最新公告，公司与宁波联创永浚私募基金管理有限公司等多 家机构共同发起的安徽浚安股权投资基金已完成备案并正式启动运作。这家总部位于山西的能源企业以 有限合伙人身份出资1.5亿元，参与设立了规模达10亿元的股权投资基金。 这是美锦能源在传统煤焦化业务之外，围绕新能源、先进制造等新兴产业开展的又一重要资本布局。截 至2025年12月30日收盘，美锦能源股价微跌0.21%，报收4.76元，总市值209.61亿元。 安徽浚安股权投资基金的合伙协议于2025年初签署，经过数月筹备，目前已完成工商登记注册手续并取 得《私募投资基金备案证明》。 根据公告，该基金整体规模预计为10亿元人民币，所有合伙人均以人民币现金出资。基金存续期限为七 年，其中前四年为投资期，后三年为退出期。 基金应重点投资于先进制造及新能源等马鞍山市雨山区重点发展产业，投资于这些产业的金额将不低于 基金投资额的70%。 管理费方面，基金在成立日至存续期限届满期间，将按日历年度计收管理费。 决策机制上，基金设立投资决策委员会，由执行事务合伙人及符合条件的有限合伙人委派人士组成，共 三人。 美锦能源 ...

Market Overview - The market experienced fluctuations with mixed performance among the three major indices, where the Shanghai Composite Index slightly declined by 0.00%, while the Shenzhen Component Index rose by 0.49% and the ChiNext Index increased by 0.63% [1] Sector Performance - The sectors that performed well included electric motors, energy metals, and the oil industry, while commercial retail, photovoltaic equipment, and wind power equipment saw declines [1] ETF Performance - Robotics, chemicals, and home appliances ETFs showed strong performance, likely driven by relevant news [2] - The opening of a physical store by Yushutech in Beijing, showcasing various robotic products, is expected to support the robotics sector [2] - The macroeconomic recovery is anticipated to bolster the chemical industry, with price increases observed in the polyester supply chain [2] Industry Insights - The basic chemical industry is projected to see significant growth in 2025, driven by strong demand for new materials and emerging applications such as AI and OLED [3] - The home appliance export chain benefits from low inventory levels and recovering demand, with the "old-for-new" policy leading to significant sales in 2025 [4] - The home appliance sector is expected to face pressure on domestic sales due to policy changes and high base effects, while external sales may benefit from easing tariffs and recovering demand in North America [4]

Core Viewpoint - The company aims to adapt to the macroeconomic environment by focusing on sustainable growth and enhancing professional capabilities to counteract cyclical fluctuations [1]. Group 1: Strategies for Expanding Domestic Demand and Optimizing Supply - The company will focus on serving the real economy, particularly in advanced manufacturing, hard technology, and innovative enterprises, by helping them optimize financial systems and governance structures [1][2]. - It will guide capital towards projects with genuine demand and long-term value, avoiding financing for the sake of financing [1][2]. Group 2: Enhancing Incremental Value and Activating Existing Resources - The company plans to optimize internal structures and resource reallocation by improving operational efficiency and capital utilization for existing businesses [2]. - For new opportunities, it will assist enterprises in designing financing paths that align with the current capital environment, attracting investors who understand the industry [2]. Group 3: Development Goals for 2026 - The company emphasizes sustainable and replicable performance structures rather than mere scale expansion, focusing on deepening service in key industries [3]. - It aims to upgrade financing services into systematic and modular consulting products, enhancing delivery quality and reducing trial-and-error costs for enterprises [3]. Group 4: Business Line and Collaborative Direction - The company will clarify its collaborative direction of "industry + capital + region" by strengthening long-term partnerships with industry players and funds [4]. - It intends to participate in more regional and industry-level projects, aiming to establish itself as a reputable advisory institution in hard technology and new productivity [4].

Core Viewpoint - The press conference highlighted the achievements of Dongguan during the "14th Five-Year Plan" period, showcasing its commitment to high-quality development amidst challenges, and its role as a significant player in the manufacturing sector of Guangdong and China [1][3]. Economic Performance - Dongguan's economic total surpassed 1.2 trillion yuan, with industrial added value ranking second in the province and significant growth in import and export, reaching over 1.4 trillion yuan [3]. - The city has established a modern industrial system characterized by "8+8+4" sectors, with industrial investment nearly doubling over five years and over 8,500 small enterprises upgraded to larger scales [3][4]. Technological Innovation - Dongguan has shifted from factor-driven to innovation-driven growth, significantly increasing R&D spending and the number of high-tech enterprises, with R&D expenditure reaching 4.01% of GDP [7][8]. - The city has made substantial investments in high-tech manufacturing, totaling 286.3 billion yuan, ranking second in the province, with a 76% increase this year [8]. Infrastructure and Urban Development - Dongguan has enhanced its infrastructure, integrating into the Guangdong-Hong Kong-Macao Greater Bay Area, with successful projects like the Dongguan-Humen Intercity Railway and the Hong Kong International Airport Dongguan Air Cargo Center [12][13]. - The city has also focused on urban-rural integration, with all 28 towns ranked among the top 300 in the country, and significant improvements in living standards and environmental quality [16][19]. Social Welfare and Governance - Over 200 billion yuan has been invested in social welfare, with a focus on education and healthcare, resulting in improved public services and living conditions [19]. - Dongguan has achieved notable reductions in safety incidents and crime rates, enhancing its reputation for safety and security [19]. Conclusion - The press conference served as a declaration of Dongguan's achievements and future direction, emphasizing its ability to navigate challenges and pursue high-quality development in the manufacturing sector [21].

以下文章来源于清科研究 ，作者创造价值的 清科研究 . 清科研究中心致力于为众多的有限合伙人、VC/PE机构、战略投资者、以及政府机构、律师事务所、会 计事务所、投资银行、研究机构等提供专业的信息、数据、研究和咨询服务。 奖项语或运 2025年中国创业投资机构50强 评选标准 | 评分项目 | | 权重分布 | | --- | --- | --- | | 管理可投资中国的资本量 | | 5% | | 募资金额 | | 10% | | 投资 | 案例数量 | 15% | | 投资金额 | | 15% | | 退出 | IPO项目数量 | 10% | | IPO账面金额 | | 10% | | 现金退出总金额 | | 10% | | 全部退出案例综合回报 | (倍数和IRR) | 25% | 2025年中国行业细分投资机构榜单 NO 4 The 1 See 3 | | IT K = | | | --- | --- | --- | | | 评分项目 | 权重分布 | | 投资 | 投资该行业的案例数量 | 25% | | | 投资该行业的案例金额 | 25% | | | 投资该行业的占比 | 10% | | 退出 ...

（本文作者张思远为星图金融研究院研究员） 一、政策红利密集落地，春季行情有望提前启动 2026年作为"十五五"规划的开局之年，宏观政策的前瞻性布局与协同发力为资本市场提供了坚实支撑。 中央经济工作会议定调后，国家发改委、中央财办等核心部门密集开展政策解读，持续释放积极信号， 不仅明确了全年经济工作的核心方向，也为A股市场注入了强劲信心。从政策传导逻辑来看，积极财政 政策与适度宽松货币政策的组合发力，将有效缓解当前经济运行中的"供强需弱"矛盾，推动经济复苏预 期持续升温，而这一过程将直接赋能资本市场，催化春季行情提前启动。 （一）国内宏观政策协同发力，夯实经济复苏基础 中央财办在政策解读中明确，扩大内需将成为2026年经济工作的首要任务，核心在于构建供需两侧协同 提振消费的长效机制，同时统筹推进消费与投资的良性互动。在房地产市场调控方面，政策呈现供需两 端精准施策的特征。供给端聚焦"控增量、盘活存量"的核心目标，通过去库存化优化市场供给结构；需 求端则重点支持刚性与改善性住房需求，通过差异化信贷政策、购房补贴等举措稳定市场预期，推动房 地产市场实现平稳健康发展。 国家发改委明确2026年将围绕提振消费、稳投资、 ...