来源：股市直击 1月28日（星期三），今日报刊头条主要内容精华如下： 中国证券报 2200亿GPU龙头收入大幅预增！ 1月27日晚间，沐曦股份发布业绩预告称，得益于产品及服务获得下游客户广泛认可与持续采购，公司 预计2025年度实现营业收入16亿元至17亿元，同比增长115.32%至128.78%。公司预计2025年度归属于 母公司所有者净利润将出现亏损，预计亏损6.5亿元至7.98亿元，与上年同期相比，亏损收窄43.36%至 53.86%。 黄金不香了？FOF头号重仓生变 近日，随着公募基金2025年四季报披露完毕，公募FOF的最新持仓动向浮出水面。值得注意的是，在 2025年的前三个季度，华安黄金ETF一直是FOF重仓持有数量最多的基金，而2025年四季度末，被海富 通中证短融ETF取代。此外，鹏扬中债-30年期国债ETF、平安中债-中高等级公司债利差因子ETF、富国 中债7-10年政策性金融债ETF等债券型ETF获FOF重仓的数量居前。 行情强劲势头下 资源品LOF限购升级！ 资源品行情强劲势头下，近期，相关LOF限购进一步升级。1月27日晚间，华安基金发布公告称，为保 证基金的平稳运作、保护基金持有人 ...

会议要求，2026年要充分认识反洗钱工作面临的新形势新要求，认真做好当前和今后一段时期反洗钱重 点工作。一是持续推进反洗钱条线从严治党，坚持以高水平党建引领业务工作。二是全力做好第五轮反 洗钱国际评估工作，推进我国反洗钱工作高质量发展。三是有序推动新修订的《中华人民共和国反洗钱 法》和相关制度落地实施，进一步发挥反洗钱工作部际联席会议机制作用。四是切实提高金融机构和特 定非金融机构反洗钱监管能力，不断提升受益所有人信息管理工作质量。五是建立打击治理洗钱违法犯 罪常态化工作机制，进一步提升反洗钱监测分析能力。 会议认为，2025年中国人民银行会同反洗钱工作部际联席会议成员单位扎实推进反洗钱各项工作，反洗 钱制度体系不断健全，金融机构反洗钱监管明显加强，受益所有人信息管理和特定非金融机构反洗钱监 管取得突破，打击治理洗钱违法犯罪和反洗钱监测分析工作持续推进，反洗钱国际合作不断深入，第五 轮反洗钱国际评估工作稳步开展，我国反洗钱工作取得显著成效。 北京商报讯（记者 廖蒙）1月27日，据中国人民银行官网，中国人民银行于1月22日召开2026年反洗钱 工作会议，落实2026年中国人民银行工作会议部署，总结2025年反洗 ...

2026年1月22日，中国人民银行召开2026年反洗钱工作会议。会议以习近平新时代中国特色社会主义思 想为指导，深入学习贯彻党的二十届四中全会和中央经济工作会议精神，落实2026年中国人民银行工作 会议部署，总结2025年反洗钱工作，分析当前形势，部署2026年反洗钱重点工作。中国人民银行党委委 员、副行长宣昌能出席会议并讲话。 智通财经APP获悉，1月22日，中国人民银行召开2026年反洗钱工作会议。会议要求，2026年要充分认 识反洗钱工作面临的新形势新要求，认真做好当前和今后一段时期反洗钱重点工作。一是持续推进反洗 钱条线从严治党，坚持以高水平党建引领业务工作。二是全力做好第五轮反洗钱国际评估工作，推进我 国反洗钱工作高质量发展。三是有序推动新修订的《中华人民共和国反洗钱法》和相关制度落地实施， 进一步发挥反洗钱工作部际联席会议机制作用。四是切实提高金融机构和特定非金融机构反洗钱监管能 力，不断提升受益所有人信息管理工作质量。五是建立打击治理洗钱违法犯罪常态化工作机制，进一步 提升反洗钱监测分析能力。 原文如下： 中国人民银行召开2026年反洗钱工作会议 本文编选自"中国人民银行"官网，智通财经编辑：刘 ...

1月27日金融一线消息，2026年1月22日，中国人民银行召开2026年反洗钱工作会议。会议认为，2025年 中国人民银行会同反洗钱工作部际联席会议成员单位扎实推进反洗钱各项工作，反洗钱制度体系不断健 全，金融机构反洗钱监管明显加强，受益所有人信息管理和特定非金融机构反洗钱监管取得突破，打击 治理洗钱违法犯罪和反洗钱监测分析工作持续推进，反洗钱国际合作不断深入，第五轮反洗钱国际评估 工作稳步开展，我国反洗钱工作取得显著成效。 会议要求，2026年要充分认识反洗钱工作面临的新形势新要求，认真做好当前和今后一段时期反洗钱重 点工作。一是持续推进反洗钱条线从严治党，坚持以高水平党建引领业务工作。二是全力做好第五轮反 洗钱国际评估工作，推进我国反洗钱工作高质量发展。三是有序推动新修订的《中华人民共和国反洗钱 法》和相关制度落地实施，进一步发挥反洗钱工作部际联席会议机制作用。四是切实提高金融机构和特 定非金融机构反洗钱监管能力，不断提升受益所有人信息管理工作质量。五是建立打击治理洗钱违法犯 罪常态化工作机制，进一步提升反洗钱监测分析能力。 责任编辑：秦艺 1月27日金融一线消息，2026年1月22日，中国人民银行召开2 ...

Group 1 - The Shanghai Municipal Party Committee has approved the proposal for the 15th Five-Year Plan, emphasizing the enhancement of the international financial center's competitiveness and influence, with specific deployments for building a global RMB asset allocation center and risk management center [1] - The Shanghai financial system work meeting highlighted the importance of party organization coverage in the financial sector and shared progress on the coverage of non-public financial enterprises [2] - The "Action Plan to Enhance the Commodity Level of Nonferrous Metals" was released, aiming to strengthen the linkage between futures and spot markets [3] Group 2 - The Shanghai Financial Regulatory Bureau issued the "Action Plan for High-Quality Development of Pension Finance," proposing 20 measures to build a pension management system with Shanghai characteristics [5] - The first delivery of the futures contract for coated printing paper was successfully completed, with a total delivery volume of 1,840 tons and a delivery amount of nearly 7.6 million yuan [6] - The Shanghai Asset Management Association announced ten major initiatives for building a global asset management center by 2025, reflecting innovative achievements in the sector [8] Group 3 - The Shanghai Futures Exchange announced adjustments to the margin ratios and price limits for copper, aluminum, gold, and silver futures, effective from January 22, 2026 [9] - The Shanghai International Energy Exchange is seeking public opinion on revising its risk control management rules, with feedback due by January 28, 2026 [10] - HSBC China has launched its first local public fund custody business, providing custody services for a fund managed by E Fund Management [11] Group 4 - The launch of the "Intelligent Reporting and Review Project for Ship Insurance Certificates" by PICC Shanghai and the Shanghai Maritime Bureau marks a shift towards online and intelligent processes in insurance certificate review [12] - The Construction Bank has introduced a new RMB structured deposit product in the free trade zone, successfully facilitating two offshore enterprises in managing their funds [13] - The first batch of technology innovation convertible bonds was successfully issued, providing low-cost long-term funding for tech enterprises [14] Group 5 - Shanghai Securities has received approval for its sponsorship business qualification, marking a significant breakthrough in its core business license layout [15] - The successful implementation of the first domestic credit certificate electronic document submission business by the Bank of Communications Shanghai branch represents a new financial service breakthrough [16] - Three branches of Shanghai Rural Commercial Bank have been recognized as the first batch of green branches in Shanghai, promoting sustainable finance [17] Group 6 - The People's Bank of China is focusing on creating a favorable monetary and financial environment to support high-quality economic development [19] - The minimum down payment ratio for commercial property loans has been adjusted to no less than 30% to adapt to changes in the real estate market [20] - The State Administration of Financial Supervision has issued new regulations to standardize the administrative licensing process for financial institutions [24] Group 7 - The China Securities Regulatory Commission has expanded the range of futures market products available for foreign investors, adding 14 new futures options [29] - The CSRC has approved the registration of options for 20 rubber, low-sulfur fuel oil, and international copper, ensuring a smooth launch and operation of these products [30] - Longqi Technology has completed its "A+H" listing, marking a significant milestone in its capital market strategy [31]

Core Insights - In 2025, financial regulatory authorities issued a total of 2,588 fines to banking institutions, amounting to 2.641 billion yuan, marking a significant increase from 2024 [1][2] - The regulatory approach has shifted from punishing institutions to holding individual employees accountable, with over 3,000 banking personnel penalized [1][9] - The trend of "strict regulation, strong accountability, and zero tolerance" has become normalized, focusing on quality and effectiveness rather than broad coverage [1][2] Regulatory Trends - The number of large fines (over 1 million yuan) issued to banking institutions increased significantly, with 455 such fines in 2025, including 31 fines exceeding 10 million yuan [2][3] - The majority of penalties were concentrated in the second half of 2025, with a notable spike in fines towards the end of the year [3][4] - The largest single fine in 2025 reached 97.9 million yuan, attributed to poor management practices across various banking operations [3] Types of Violations - Major areas of violations included credit business, anti-money laundering, and internal control systems, with nearly half of the large fines related to credit business infractions [6][8] - Internet loan business violations emerged as a significant concern, with several banks penalized for inadequate risk management during rapid business expansion [7][8] - Anti-money laundering fines surged to 1,381 in 2025, a 185.92% increase from 2024, reflecting heightened regulatory scrutiny [8] Individual Accountability - The "double penalty" system has led to a substantial increase in fines against individual banking personnel, with 3,933 personal fines issued in 2025 [9][10] - Over 100 banking employees received lifetime bans from the industry, a notable rise compared to previous years [10][11] - The regulatory focus on individual accountability aims to enhance compliance awareness and risk management within financial institutions [11] Future Outlook - The trend of stringent regulation and risk prevention is expected to continue into 2026, with a shift towards behavior-based assessments rather than merely financial metrics [12] - Compliance capabilities are anticipated to become essential for the survival of banks, with a focus on proactive governance and integration into business processes [12] - Regulatory attention will likely center on corporate governance, data security, consumer rights protection, and compliance with green and inclusive finance policies [12]

明确"即时、穿透、回溯、保密" 中国（上海）自贸区研究院金融研究室主任刘斌认为，《管理办法》对金融机构提出的是"即时、穿 透、回溯、保密"的一揽子硬约束，即对指定高风险名单及关联主体需立即停止金融服务、限制资金资 产转移且不得事先通知；实施穿透式管控、覆盖全业务链条，配合资产冻结并定期报备；回溯历史交 易、实时监控关联账户，并在24小时内报告可疑交易；同时严守信息保密要求，保护善意第三人权益， 健全内部全流程机制与问责体系。 融孚反洗钱与支付监管法律研究业务研究委员会主任金鹏则从执行层面分析指出，《管理办法》强化名 单监测管控，建立实时监控机制，精准识别名单对象及关联方，并对所有业务开展名单核查；强调即时 执行特别预防措施，尤其针对办法第二条所列特定对象及其关联方，立即停止金融服务、限制资金/资 产转移且不事先通知；严守保密与协作，执行过程中严格保密，并依法协同外交、公安、反洗钱监管等 部门提供数据支持；此外，还应依法妥善应对被采取特别预防措施对象的诉求，在合规前提下及时处理 并以适当方式告知，但不得违反保密要求。 银行反洗钱难点何在？ 《中国经营报》记者梳理的公开处罚信息显示，2025年银行业罚单数量与罚没 ...

Core Viewpoint - Capitalwatch has released a short-selling report accusing AppLovin Corporation of systemic compliance risks and significant financial crimes related to its core shareholder structure [1][3]. Group 1: Allegations of Illegal Funding and Money Laundering - The report claims that AppLovin's major shareholder, Hao Tang, is linked to illegal funds from the Chinese P2P platform, Tuandai Network, amounting to approximately 9.57 billion USD [3][8]. - It is alleged that Hao Tang has connections to a gambling network, acquiring around 21.5 billion RMB (approximately 3.1 billion USD) in gambling proceeds [8]. - The report outlines a closed loop where illegal funds are converted into advertising fees through a Cambodian app, WOWNOW, and subsequently laundered through AppLovin [3][14]. Group 2: Family Conspiracy and Key Connections - The report identifies Ling Tang, who is believed to be Hao Tang's sister, as a significant shareholder in AppLovin, holding approximately 7.7% of the company [9][10]. - Evidence suggests that illicit funds were transferred to accounts controlled by Ling Tang, indicating a family conspiracy in the money laundering operations [10]. Group 3: Southeast Asian Criminal Network - The Prince Group, led by Chen Zhi, is identified as a key player in providing ongoing cash flow and laundering infrastructure for Hao Tang [11]. - The report highlights that the Prince Group has been designated as a transnational criminal organization by U.S. authorities, with Chen Zhi facing serious charges related to telecom fraud and money laundering [11]. Group 4: Capital Market Intersections - The report reveals a connection between Hao Tang and Chen Zhi through the Hong Kong capital market, particularly involving Geotech Holdings, which served as a platform for capitalizing on gray assets [13]. Group 5: Technological Complicity - AppLovin's technologies, Array and AXON, are accused of facilitating the operations of criminal groups by enabling the distribution of malicious software and online scams [14][15]. - The report claims that AppLovin's SDK includes commands that compromise user choice, effectively turning victims' devices into tools for advertisers [15]. Group 6: Money Laundering Mechanism - The report describes a laundering scheme where the Prince Group uses AppLovin's advertising platform to convert illicit funds into legitimate revenue through inflated advertising expenditures [16][17]. Group 7: Compliance Crisis and Regulatory Risks - AppLovin is said to be facing a compliance crisis, with potential risks of delisting if it is proven that major shareholders' funds are derived from criminal activities [18]. - The report calls for immediate regulatory action, including freezing shares held by Hao Tang and Ling Tang, and conducting a forensic audit of AppLovin's advertising revenue sources [19].

Group 1 - The core focus of the news is the intensified efforts by the prosecutorial authorities in China to combat money laundering and economic crimes, with a significant number of prosecutions reported for various offenses [1][2] - From January to November 2025, the prosecutorial authorities prosecuted 2,684 individuals for money laundering crimes, highlighting a proactive approach to financial crime enforcement [1] - The Supreme People's Procuratorate emphasized the importance of safeguarding economic and financial security, particularly through the strict punishment of serious economic crimes, including smuggling and illegal fundraising [1] Group 2 - In the same period, the prosecutorial authorities received 27,000 cases of occupational crimes, marking an 11.3% increase year-on-year, and prosecuted 26,000 individuals for these offenses [2] - There was a collaborative effort to address corruption in key sectors such as finance, pharmaceuticals, and construction, resulting in 6,749 prosecutions [2] - The authorities also focused on international anti-corruption efforts, applying for the confiscation of illegal gains from seven suspects involved in bribery and corruption who were either absconding or deceased [2]

Group 1 - The Supreme People's Procuratorate emphasizes the importance of using legal power to support high-quality economic development and maintain economic and financial security [1] - Strict measures will be taken against serious economic crimes, including smuggling of strategic minerals and illegal fundraising, to ensure a law-based business environment [1] - Collaboration with financial regulatory authorities will focus on combating illegal intermediaries and financial fraud, ensuring the stability of the financial system and protecting public assets [1] Group 2 - The Supreme People's Procuratorate aims to enhance judicial protection for new productive forces, particularly in the context of technological self-reliance and innovation [2] - There will be a focus on strengthening intellectual property rights protection, especially in emerging fields like artificial intelligence and data rights [2] - Efforts will be made to address malicious litigation in intellectual property cases and improve the overall innovation ecosystem [2]