2026 年银行板块投资策略：从业务与业绩角度看稳健性； 两条选股主线 20251222 摘要 银行业整体盈利预计保持小幅增长，2028 年 ROE 仍有望维持在 8%- 9%区间，年底年初是较佳投资窗口期，险资增量资金配置确定性高，明 年营收边际改善确定性较高，息差降幅收窄将支撑净利息收入。 选股逻辑聚焦高 ROE 优质城商行（如江苏银行、南京银行等）和高股息 品种（如招商银行、中信银行等），前者规模增长确定性强且营收弹性 大，后者适合阶段性防御策略。 2026 年信贷动能依赖新型工业化、科技创新、新基建及传统产业升级， 绿色信贷和科创贷款占比提升空间大，科技型中小企业贷款同比增速保 持较高水平。 地产和消费对银行业绩贡献有限，地产需超预期政策才能企稳，消费主 要依靠政策托底，内生动力仍需加强，零售相关需求偏弱。 预计 2026 年净息差将在个位数区间内波动，降幅小于今年，净利息收 入有望实现小幅正增长，优质区域城农商行可能超预期。 对于地产和消费领域，您怎么看待其对银行业绩的影响？ Q&A 2026 年银行板块的总体投资策略和选股逻辑是什么？ 总体来看，2026 年银行板块的投资策略主要关注绝对收益，预计 ...

Core Insights - The forum focused on "Strengthening the Foundation of Quality Integrity to Empower New Industrial Development" and gathered government leaders, industry experts, and entrepreneurs to discuss new paths for quality integrity construction and the blueprint for new industrialization [1][3] Group 1: Key Themes and Perspectives - Quality is emphasized as the foundation for survival and integrity as the basis for development, with a call for companies to integrate quality integrity into their overall development strategy [3][6] - The importance of brand development in manufacturing is highlighted, suggesting a shift from product thinking to brand thinking to seize historical opportunities [5] - The concept of a "five-in-one" approach to quality integrity construction is proposed, focusing on innovation-driven, industrial upgrading, standard leadership, demand activation, and governance optimization [5] Group 2: Innovations and Practices - Companies shared valuable experiences in quality integrity construction, showcasing practices such as zero-accident bridge construction and innovative technologies that support quality integrity [7] - The role of digital and intelligent upgrades in quality management is underscored, with examples of companies leveraging technology for quality control [7] - The forum included the signing of a cultural wine cooperation agreement and the release of a large album summarizing best practices in quality integrity across various industries [10]

Group 1 - The core viewpoint of the news is that Weihong Co., Ltd. has shown a mixed performance in its stock price, with a year-to-date increase of 25.33% but a recent decline over the last five and twenty trading days [1] - As of December 22, the stock price of Weihong Co., Ltd. was 33.67 yuan per share, with a market capitalization of 3.663 billion yuan [1] - The company has seen a net inflow of main funds amounting to 2.2466 million yuan, with significant buying activity [1] Group 2 - Weihong Co., Ltd. operates in the computer equipment sector, specifically in industrial motion control systems, servo drive systems, and industrial IoT [1][2] - For the period from January to September 2025, Weihong Co., Ltd. achieved operating revenue of 398 million yuan, representing a year-on-year growth of 15.28%, while net profit attributable to shareholders decreased by 10.07% to 74.71 million yuan [2] - The company has distributed a total of 91.949 million yuan in dividends since its A-share listing, with 38.6178 million yuan distributed in the last three years [3]

Group 1 - The event "2025 Future Industry Series Docking Activity (Shaanxi)" aims to promote the development of future industries in Shaanxi Province, aligning with the central economic work conference's spirit and the implementation of policies for innovative industry development [1] - The main event will feature discussions on trends, results, and consensus-building, with top experts presenting in-depth reports on five cutting-edge areas: future information (photonics), embodied intelligence (robots), future materials (titanium and titanium alloys), future space (aviation and drones), and future energy (hydrogen) [2] - A series of significant outcomes, including industrial policies and think tank reports, will be showcased at the event, providing clear guidance for national and local future industry layouts [3] Group 2 - The event will include three specialized docking activities focusing on specific sectors: future information industry, future energy and space, and future materials, aimed at promoting resource matching and practical cooperation [4] - The activities are designed to facilitate communication and collaboration among enterprises, accelerating the transformation of cutting-edge technological achievements and promoting effective cooperation on high-quality projects [4] - The event is positioned to enhance the integration of innovation chains, industrial chains, capital chains, and talent chains, attracting quality projects, technologies, and talents to Shaanxi, thereby supporting the development of new productive forces and modern industrial systems [4]

Core Insights - The biomanufacturing industry in China has grown significantly, with a total scale reaching 1.1 trillion yuan, and bioproducts accounting for over 70% of global production [1] - The industry is expected to be a core driver of the Fourth Industrial Revolution, emphasizing the importance of biomanufacturing in fostering new productive forces and advancing new industrialization [1] - The "14th Five-Year Plan" period is projected to see continued growth in biobased materials and chemicals, with bioproduct output increasing by approximately 20% compared to the end of the "13th Five-Year Plan" [1] Industry Growth and Innovation - Significant breakthroughs in technology and product innovation have been achieved, including high-throughput gene sequencers and AI protein design platforms, leading to the commercialization of various biomanufactured products [2] - The emergence of biomanufacturing clusters, such as in Shenzhen and Hainan, showcases localized development and the establishment of significant production capabilities in amino acids and marine biomanufacturing [2] - The Ministry of Industry and Information Technology has announced key lists related to high-performance bioreactor innovation and pilot capabilities, indicating a structured approach to industry advancement [3] Future Development Plans - The "15th Five-Year Plan" will focus on enhancing the biomanufacturing ecosystem, including the establishment of pilot platforms and the cultivation of composite talents in the sector [3] - Emphasis will be placed on addressing fundamental scientific issues and engineering bottlenecks in biomanufacturing, promoting deep integration of technological and industrial innovation [3] - The industry aims to expand applications in future food and healthcare sectors, leveraging advancements in biomanufacturing technologies [3] Recommendations for High-Quality Development - The establishment of a comprehensive innovation system, modern industrial system, and management service system is recommended to accelerate high-quality development in biomanufacturing [4] - Support for diverse development routes and the creation of significant biomanufactured products is essential, alongside the establishment of regional innovation platforms [4] - Financial services tailored to biomanufacturing enterprises should be developed to support market-oriented operations and the growth of specialized small and medium enterprises [5]

转自：北京日报客户端 科技史研究是深入推进中国特色社会主义政治经济学发展的重要工具。恩格斯曾经说过："即使只是在 一个单独的历史事例上发展唯物主义的观点，也是一项要求多年冷静钻研的科学工作，因为很明显，在 这里只说空话是无济于事的，只有靠大量的、批判地审查过的、充分地掌握了的历史资料，才能解决这 样的任务。"中国今天的经济学，特别是政治经济学研究要丰富和发展，就必须深入到生产力的各个部 门里面去，因此就必须下功夫钻研科学技术和产业史，了解人类怎样从科学发明转变到技术应用，又怎 样由新的科技形成新的产业，以及这个产业是怎样扩张、成熟起来并成为支柱产业，最后又是怎样被新 的科技革命所形成的新的产业所取代的。在这方面，新中国史尤其是改革开放史等提供了大量研究素 材，值得深入研究。 综上所述，随着以《中华人民共和国科学技术史纲》等为代表的新中国科技史研究论著的出版，相关研 究机构和人员的持续跟进，新中国科技史研究显示出勃勃生机。新中国科技史研究与新中国的科学技术 发展同频共振，后者的飞速发展为前者提供了不竭动力，前者则持续记述、总结后者的规律及特点，二 者共同为强国建设、民族复兴伟业提供重要支持。 （作者为当代中国研 ...

Core Insights - The biomanufacturing industry in China has grown significantly, with a total scale reaching 1.1 trillion yuan, and bioproducts accounting for over 70% of global production [1] - The industry is expected to be a core driver of the Fourth Industrial Revolution, emphasizing the importance of biomanufacturing in fostering new productive forces and advancing new industrialization [1] - The "14th Five-Year Plan" period is projected to see continued growth in biobased materials and chemicals, with bioproduct output increasing by approximately 20% compared to the end of the "13th Five-Year Plan" [1] Industry Growth and Innovation - Significant breakthroughs in technology and product innovation have been achieved, including high-throughput gene sequencers and AI protein design platforms, leading to the commercialization of various biomanufactured products [2] - The emergence of biomanufacturing clusters, such as in Shenzhen and Hainan, showcases localized development and the establishment of significant production capabilities in amino acids and marine biomanufacturing [2] - The Ministry of Industry and Information Technology has announced key lists related to high-performance bioreactor innovation and pilot capabilities, indicating a structured approach to industry advancement [3] Policy and Strategic Development - The Ministry of Industry and Information Technology aims to create a comprehensive ecosystem for biomanufacturing, focusing on innovation, transformation support, and product quality [3] - The upcoming "15th Five-Year Plan" will outline strategies for biomanufacturing, including the establishment of pilot platforms and the cultivation of composite talents in the sector [3] - Emphasis will be placed on addressing fundamental scientific issues and engineering bottlenecks, promoting deep integration of technological and industrial innovation [4] Recommendations for High-Quality Development - The establishment of an innovation system, modern industrial system, and management service system is recommended to accelerate high-quality development in biomanufacturing [4] - Support for diverse development routes and the creation of high-energy innovation platforms tailored to regional strategies is encouraged [5] - The focus will be on enhancing the evaluation mechanisms for original products and fostering specialized small and medium enterprises in the biomanufacturing sector [5]

转自：新华财经 【重点关注】 •李强主持召开国务院常务会议 对贯彻落实中央经济工作会议决策部署作出安排 •事关汽车以旧换新、消费贷额度等事项 商务部等三部门：加强商务和金融协同，更大力度提振消费 •中央财办：2025年我国经济总量预计达到140万亿元 明年将根据形势变化出台实施增量政策 •中央财办：支持民营企业参与铁路、核电等领域重大项目，引导民间投资向高技术、服务业等新赛道 拓展 •证监会：全面推动落实中长期资金长周期考核机制，大力发展权益类公募基金，推动指数化投资高质 量发展 •工业和信息化部：坚定不移推进新型工业化 为包括AMD在内的外资企业提供更多合作机遇 •中国证监会党委书记、主席吴清主持召开党委（扩大）会议，传达学习中央经济工作会议精神，结合 全国金融系统工作会议要求，研究部署证监会系统贯彻落实举措。会议指出，坚持固本强基，持续增强 市场内在稳定性。积极培育高质量上市公司群体，开展新一轮公司治理专项行动，引导优质公司持续加 大分红回购力度。全面推动落实中长期资金长周期考核机制，大力发展权益类公募基金，推动指数化投 资高质量发展。 •近日市场监管总局修改《禁止垄断协议规定》，明确不予禁止的纵向垄断协 ...

制造业是国家经济命脉所系，是立国之本、强国之基。党的二十届四中全会提出，坚持把发展经济的着 力点放在实体经济上，坚持智能化、绿色化、融合化方向，加快建设制造强国、质量强国、航天强国、 交通强国、网络强国，保持制造业合理比重，构建以先进制造业为骨干的现代化产业体系。 中國抑闻網 中国互联网发展基金会 中国互联网友展基金会 中国正能量网络传播专项基金资助支持项 China Internet Development Foundation 探寻新时代 发展足 辽 装备制造业是制造业的脊梁, 要加大投入、加强研发、加快发展, 努力占领世界制高点、 掌控技术话语权, s all all bell 便我国成为现代装备制造业大国。 2017年12月12日 中国互联网发展基金会 中国互联网发展基金会 中国正能量网络传播专项基金资助支持项目 China Internet Development Foundation P 网 狗 网 据 探寻新时代 发展足 发展足 3游 P Lust and I ILES t 目前,徐丁集团产品出口到190多个国家和地区。 覆盖 沿线95%以上的国家和地区。 路。 t 中网 狗 网 用 中国互联网 ...

转自：贵州日报 贵州日报天眼新闻记者 杜朋城 摄 12月18日，位于铜仁高新区的贵州戴普森数字能源有限公司生产车间内一片繁忙，自动化生产线高速运转， 为海外订单全力冲刺。作为铜仁重点引进项目，该公司聚焦"小储能""小动力"锂电池终端产品研发生产，目 前10条规划产线已有6条投用，产品远销美、日、德等国，截至11月产值已达8000万元。项目全面达产后， 预计年产值3亿元、带动就业1300人。其"终端产品补链"的定位，正为贵州新能源电池产业集群完善价值闭 环，助力全省新型工业化与绿色能源产业协同发展。 ...