"围绕专精特新企业和高成长性、初创型企业，我们持续加大普惠金融支持力度，既拓面也聚焦，左手 是'金融工具包'、右手是'企业诉求单'，两者精准匹配才能'1+1大于2'。"龙华区金融协会相关负责人介 绍道，在累计为3.1万余家企业主体提供1600亿元授信支持基础上，本次大会由"金融银团"发布"千亿元 授信+专属金融产品+优惠贷款利率"矩阵服务，面向瞪羚企业、独角兽企业、专精特新、小巨人企业、 制造业单项冠军、隐形冠军等不同发展阶段、不同行业特征各类市场主体，量身定制个性化金融服务。 本次大会深担农银龙华AIC基金完成了首批意向投资项目签约，实现了"官宣即运作"。据了解，首批签 约项目包括昂湃技术、圭华智能、精泰达等聚焦液冷散热、精密激光装备、自动化测试设备赛道的辖区 优质拟上市企业。 【深圳商报讯】(首席记者谢惠茜)12月9日，龙华区在国际合作中心召开产融结合高质量发展大会，集 中发布一批标志性产融结合成果。 尤为引人瞩目的是，龙华区官宣落地百亿级战新产业（300832）基金集群，里面规模最大的两支基金总 规模均为20亿元，分别为深资本建信龙华AIC基金和深担农银龙华AIC基金。记者在现场了解到，该基 金集群将重 ...

点评：利息本金全展期？现金流或许真见底了 碧桂园降债超900亿元： 12月4日，碧桂园约177亿美元境外债务重组方案获香港高等法院批准，此前境内最后一笔137.7亿元债务重组也已通过。至此境内外债务重组基本落地，预 计降债超900亿元，5年内兑付压力缓解。当晚，碧桂园公告管理层分工调整，莫斌调任联席主席，程光煜任总裁，旨在厘清权责、强化协同，为集团高质量 发展持续赋能。 点评：呈现出明显的结构性特征 万科20亿债券展期12个月： 12月1日消息，万科拿出了"22万科MTN004"债券的展期初始方案。该债券原定于2025年12月15日到期，现拟展期12个月，调整至2026年12月15日偿付本期 中票全部本金。对于未付及新增利息，万科表示，展期前已经产生的利息，于原付息日起延期12个月支付，即2026年12月15日支付，延期期间不计复利；展 期期间，票面利率维持3%不变，新增利息本金的兑付一同支付。接下来，万科仍面临较大的偿债压力。据华创证券研报，截至2025年11月27日，万科存续 债券共15只，其中境内债13只，债券余额合计203.16亿元，均为公募债，其中2025—2027年行权到期规模分别为57亿元、12 ...

近日，信锘国际（SYNO Infinity）宣布正式启动"赴美上市筹备计划"，目标登陆美国资本市场。随着上 市进程的开启，信锘国际的全球化战略布局进一步提速，被多家市场研究机构视为具备成长为"下一阶 段独角兽企业"的潜力公司之一。 信锘国际深耕国际金融与资产管理领域多年，核心管理团队拥有超过20年行业经验，长期关注资本市场 周期、国际政策变动和金融科技创新。公司在过去一年保持稳健扩张，业务延伸至东南亚、东亚、中东 及北美等区域，形成多业务、多区域的增长矩阵。 业内分析指出，信锘国际的优势主要体现在三个方面： 1.全球化布局早、战略完整 据信锘国际管理层透露，当前公司已同步推进内部治理结构升级、财务体系国际化审计、风控合规体系 强化等上市前关键工作。分析人士指出，在全球金融市场趋向审慎、合规要求提升的大背景下，信锘国 际选择此时启动赴美上市筹备，显示出其对自身业务模式、长期增长路径与全球竞争力的高度自信。 深耕金融科技多年，信锘国际积累行业底蕴 团队对国际金融周期有深度理解，使信锘国际能够保持稳健前行。 信锘国际自成立初期便明确推进国际市场规划，为后续拓展奠定基础。 2.专业团队具备强抗周期能力 3.业务模型具 ...

Core Insights - The 2025 Global Unicorn Enterprises Top 500 Conference was held in Qingdao, Shandong Province, revealing a total valuation of 39.14 trillion yuan for the top unicorns, marking a year-on-year growth of 30.71% [1][18] - The average valuation of unicorns increased from 59.88 billion yuan to 78.28 billion yuan, also reflecting a 30.71% growth [1][18] Valuation and Growth - The total valuation of the 2025 Global Unicorn Enterprises Top 500 reached 39.14 trillion yuan, surpassing Germany's GDP [1][18] - The average valuation rose from 598.83 million yuan to 782.76 million yuan, indicating a significant increase [1][18] Market Dynamics - Only 12 unicorns went public in 2025, continuing a trend of decline since 2021, while mergers and acquisitions surged from 1 in 2024 to 10 in 2025, predominantly led by North American giants [3][21] - The number of companies exiting the list increased from 35 to 96, a rise of 174.29%, primarily due to valuations not meeting thresholds [3][21] Top Unicorns - The top 10 unicorns accounted for a combined valuation of 13.42 trillion yuan, a staggering increase of 107.4% from 2024, contributing 57% of the total valuation growth [5][21] - The top 10 unicorns' share of the total valuation rose from 21.62% to 34.23% [5][21] Geographic Distribution - The United States and China dominate the unicorn landscape, contributing 74.8% of the total number of companies and 86.8% of the total valuation [6][22] - The U.S. leads with 224 companies valued at 18.97 trillion yuan, while China follows with 150 companies valued at 12.83 trillion yuan [6][22] Sector Analysis - U.S. unicorns excel in high-value sectors such as AI, information technology, fintech, enterprise services, healthcare, and aerospace, with 169 companies in these areas [8][24] - China has established competitive advantages in advanced manufacturing, automotive technology, and cultural tourism, with 48 companies in advanced manufacturing alone [9][25] City Concentration - The top 10 cities host 256 unicorns, accounting for 51.2% of the total number and 59.48% of the total valuation [9][25] - Notable cities include San Francisco, Beijing, and New York, which collectively represent a significant portion of the global unicorn ecosystem [9][25]

Core Insights - The 2025 Global Unicorn Enterprises Top 500 Conference was held in Qingdao, Shandong Province, revealing a total valuation of 39.14 trillion yuan for the top unicorns, marking a year-on-year growth of 30.71% [1][3] - The average valuation of unicorns increased from 59.883 billion yuan to 78.276 billion yuan, also reflecting a 30.71% growth [1][3] - The report indicates a significant shift in the landscape of unicorn companies, with only 12 unicorns going public in 2025, continuing a trend of contraction since 2021 [3] Valuation and Market Trends - The total valuation of the top 10 unicorns reached 13.42 trillion yuan, a staggering increase of 107.4% from 2024, accounting for 34.23% of the total valuation of the top 500 [3] - The number of companies exiting the top 500 list increased from 35 to 96, a rise of 174.29%, primarily due to valuations not meeting the threshold [3] - The number of new entrants to the list was 118, an increase of 13.46% year-on-year, with the U.S., China, and India contributing the most new unicorns [3] Geographic Distribution - The U.S. and China dominate the unicorn landscape, contributing 74.8% of the total number of companies and 86.8% of the total valuation [5] - The U.S. leads with 224 companies valued at 18.97 trillion yuan, while China follows with 150 companies valued at 12.83 trillion yuan [5] - The top 10 cities host 256 unicorns, representing 51.2% of the total number and 59.48% of the total valuation, highlighting a significant concentration of resources [8] Sector Analysis - In the U.S., unicorns are primarily concentrated in high-value sectors such as artificial intelligence, information technology, fintech, enterprise services, healthcare, and aerospace, with 169 companies in these areas [7] - China excels in advanced manufacturing and automotive technology, with 48 unicorns in advanced manufacturing alone, significantly outpacing the U.S. in this sector [8] - The report emphasizes the competitive advantages of both countries in their respective sectors, with the U.S. leading in AI and fintech, while China shows strength in advanced manufacturing and cultural media [8]

Group 1: Employment Market - The U.S. private sector saw a significant decline in job creation, with a loss of 32,000 jobs in November, marking the largest drop since March 2023 [1] - Small businesses were the most affected, losing 120,000 jobs, while medium and large enterprises added 51,000 and 39,000 jobs respectively [1] - The ADP report indicates a broad slowdown in hiring, primarily driven by small business contractions amid cautious consumer behavior and an uncertain macroeconomic environment [1] Group 2: Federal Reserve Interest Rate Outlook - The disappointing employment report is likely to influence the Federal Reserve's decision to lower interest rates in December, with market expectations for a nearly 90% probability of a rate cut [2] - The Fed may adopt a hawkish stance regarding interest rate projections for the following year despite potential rate cuts [2] Group 3: AI Chip Export Legislation - The U.S. Congress is expected to reject the GAIN AI Act, which would have prioritized U.S. customers for AI chip manufacturers like NVIDIA and AMD before exporting to restricted countries [2] - NVIDIA's CEO, Jensen Huang, views the decision not to include the GAIN AI Act in the NDAA as wise, citing potential risks to the U.S. from the legislation [2] Group 4: Global Unicorn Companies - The 2025 Global Unicorn Companies list shows a total valuation of 39.14 trillion yuan, with a year-on-year growth of over 30%, predominantly from the U.S. and China [4] - China has 150 companies on the list, with a notable increase in AI unicorns from 20 to 36, representing an 80% rise [4][5] Group 5: Trade and Tariff Impact - The WTO reports that nearly 20% of global imports are affected by tariffs and trade measures, with the total impacted amount reaching $2.64 trillion, a record high [8] - The rise in trade protectionism, particularly from the U.S., is expected to suppress global trade activities and increase recession risks [8] Group 6: Adoption of Humanoid Robots in China - A Morgan Stanley survey indicates that 62% of Chinese companies are likely to adopt humanoid robots within the next three years, despite current technology limitations [11] - Only 23% of respondents are satisfied with existing humanoid robot products, and 92% believe that prices must be below 200,000 yuan for widespread adoption [11][12] Group 7: AI Application and Regulation - AI agents are becoming increasingly prevalent, but their use raises significant privacy and security concerns, prompting various apps to implement monitoring measures [13] - The need for regulatory frameworks to ensure safe and effective use of AI technology is becoming more critical as its applications expand [14]

Macro Dynamics - The People's Bank of China will conduct a 10,000 billion yuan reverse repurchase operation on December 5, 2025, to maintain ample liquidity in the banking system, with a term of 3 months (91 days) [2] Bilateral Investment - The Chinese Ministry of Commerce and the French Ministry of Economy, Finance, and Industrial and Digital Sovereignty signed a memorandum to strengthen bilateral investment, encouraging enterprises from both countries to increase mutual investments and ensure a fair and predictable business environment [3] Automotive Industry - The "14th Five-Year Plan" emphasizes qualitative improvement, with domestic automobile sales expected to exceed 35 million units during this period, and the penetration rate of new energy vehicles projected to surpass 70% [4][5] Unicorn Enterprises - In the 2025 Global Unicorn Enterprises 500 list, China maintains its leading position with 150 companies, contributing significantly to the overall valuation of 39.14 trillion yuan, which has increased by over 30% compared to 2024 [6] Space Exploration - The Shenzhou 21 astronaut crew is set to conduct their first extravehicular activity soon, having completed various tasks since their arrival at the space station on November 1, 2025 [7] Financial Regulations - The U.S. SEC has postponed the deadline for hedge funds and large investors to comply with short-selling and related stock lending disclosure regulations to January 2, 2028, and September 28, 2028, respectively [8] A-Share Market Outlook - UBS Securities analyst Meng Lei forecasts that A-share earnings growth may rise to 8% in 2026, driven by improved nominal GDP growth, narrowing PPI declines, and supportive policies [9] Market Data - On December 4, the market rebounded, with the ChiNext Index rising over 1%, while the total trading volume in the Shanghai and Shenzhen markets was 1.55 trillion yuan, a decrease of 121 billion yuan from the previous trading day [11] Financing Trends - As of December 3, the financing balance in the two markets decreased by 3.685 billion yuan, with the Shanghai Stock Exchange reporting 1.24699 trillion yuan and the Shenzhen Stock Exchange reporting 1.210675 trillion yuan [12] Hong Kong Market Performance - On December 4, the Hang Seng Index rose by 0.68%, with the Hang Seng Tech Index increasing by 1.45%, led by gains in the innovative drug and robotics sectors [13] Company Developments - CATL aims to achieve ocean-going capabilities for pure electric vessels within three years, currently holding a 40% global market share in providing power solutions for various types of vessels [14] - Country Garden's debt restructuring plan for nine bonds totaling over 13.858 billion yuan has been approved by creditors [15] - Nezha Auto is recruiting impact bond investors, planning to raise up to 100 million yuan through this initiative [16][17]

锚定战略定位，政企协同护航独角兽成长 转自：推广 文|徐雅琳 12月3日，"2025独角兽企业500强大会"在青岛市崂山区隆重举办。本次大会由中国发明协会、中国人工智能学会、中国汽车工程学会、中国经济发展研究会 指导，中国人民大学中国民营企业研究中心、青岛市企业家联合会主办，北京隐形独角兽信息科技院、中国发明协会独角兽企业创新分会承办。 会议汇聚国家部委、山东省及青岛市相关领导，深圳、成都、杭州、武汉等先进地市民营经济主管部门，全球独角兽企业500强代表、知名创投风投机构代 表及专家学者等近600名嘉宾，以"创新为内核，协同促发展"为核心，共商独角兽企业培育与高质量发展路径。 会上，《2025全球独角兽企业500强报告》正式发布。报告显示，全球独角兽企业500强总估值已达39.14万亿元，同比增长30.71%，平均估值升至782.76亿 元。行业格局持续变动，全年新入榜企业118家，其中美国、中国、印度分别新增67家、27家和7家；并购案例增至10起，出局企业达96家，反映出行业洗牌 正在加速。 青岛市委常委、副市长王波在致辞中表示，习近平总书记强调，培育壮大新兴产业和未来产业，要有力有效支持发展瞪羚企业、独 ...

中国发明协会独角兽创新分会会长 解树江：这几年，国家对独角兽企业培育工作的重视程度不断提高，今年又首次将"培育独角 兽企业"写入国家"十五五"规划建议。同时，民营经济促进法以及科技、产业、金融相关政策的出台与深入实施，为独角兽企业技术 突破、规模扩张与全球化发展提供全方位支撑。 央视网消息：2025全球独角兽企业500强榜单12月3日发布。与2024年相比，独角兽企业整体估值大幅增长，中国在数量和估值占 比上继续保持全球领先，并在多个重点赛道领跑全球。 统计数据显示，2025年全球独角兽企业500强总估值达39.14万亿元，同比增长超30%，主要集中在美国与中国，中国共有150家企 业入选。 从行业看，主要分布在金融科技、信息科技及先进制造等赛道。今年尤其突出的一点是人工智能赛道独角兽企业从20家增加到36 家，涨幅达80%。其中，中国人工智能独角兽企业从2家增加到9家，涨幅达350%。 目前，中国独角兽企业数量在先进制造、汽车科技、交通物流、生活服务和文旅传媒五大赛道均居全球首位。 独角兽企业指成立时间10年左右，估值超过10亿美元，拥有独创性、颠覆性技术或难以复制商业模式的企业，是衡量一个国家或 地区创新 ...

人民财讯12月4日电，港投公司今天公布的2024年年报显示，截至2025年6月30日，港投公司每1港元的 投资，已带动超过6港元的市场长期资金跟投。两年间，被投企业中有2家已在香港上市，另有10多家已 于今年较早前提交在港上市申请，在这些企业中，有5家在上市前已成为独角兽企业，形成"梯度蓄水 池"并实现良性循环。 港投公司行政总裁陈家齐表示，2025年已进一步深耕和推进，包括领投新的投资轮等，助力这些企业把 握市场机遇"出海"。 ...